A recent survey by Ipsos, in partnership with Google, found that confident consumers are more likely to take actions that boost business performance. The study, which surveyed over 18,000 people across 18 markets, identified that confidence in consumers is driven by:
- High category knowledge
- Relevant information
- Strong connection to the brand
With the help of AI, brands can provide relevant information to consumers, thereby increasing their confidence and likelihood to make purchases. The study also found that 75% of consumers cross-check multiple sources to verify the information they find, indicating the importance of credibility.
The study further revealed that consumers prefer relevant content aligned to their interests and needs over personalized information. About 75% of consumers want brands to demonstrate that they understand their needs, and 61% want this understanding reflected in branded communications.
AI plays a crucial role in interpreting consumer intent and providing relevant information. Consumers who used Google as a touchpoint in their journey were 1.7X more likely to find "very relevant" information. AI tools like Google's Circle to Search, AI Overviews, and Google Lens can help consumers find more relevant options.
Brands can gain share by presenting new options to consumers who are open to new products. AI-powered ads tools like Demand Gen can help unfamiliar brands in this regard. Highly confident consumers are 10X more likely to be very satisfied after buying and 6X more likely to say they would "definitely buy again".
Brands can deliver relevance by easing the consumer journey, building their knowledge, and understanding their needs. AI can assist brands in achieving these goals, thereby building credibility and boosting consumer confidence.
