Apps & Social Platforms Ranks 10th Out of 10 Industries in MBLM's Brand Intimacy COVID Study
Nearly 50 Percent of Consumers Increased Positive Emotional Connections with Industry Brands; Spotify Leads List, Followed by TikTok and Apple Music
NEW YORK, Nov. 12, 2020 /PRNewswire/ -- The apps & social platforms industry ranks 10th out of the 10 industries featured in MBLM's Brand Intimacy COVID Study, a study of brands based on emotional connections during the pandemic. MBLM (pronounced Emblem) uses emotional science to build and manage more intimate brands. Spotify remains as the #1 category, followed by TikTok and Apple Music, respectively. Brand Intimacy is the emotional science behind the bonds we form with the brands we use and love.
MBLM's study reveals that the remaining brands in the top 10 for the industry are Instagram, Pinterest, Facebook, Twitter, Snapchat, Uber and LinkedIn. During the pandemic, more than 45 percent of consumers have an increased positive emotional connection with apps & social platform brands, compared to MBLM's previous study.
Top intimate brands continue to significantly outperform the leading brands in the Fortune 500 and S&P 500 indices across revenue growth, profit growth and stock price during the second quarter of 2020, compared to the second quarter of 2019, according to the Brand Intimacy COVID Study. The percentage differences are significant and indicate the degree to which intimate brands generate millions more dollars in revenue.
"During the pandemic (and an election year), apps & social platform brands have become much more significant to the fabric of our society. With our changed lifestyles, these brands have provided a way to stay informed and engaged, personally and professionally," said Mario Natarelli, managing partner, MBLM. "Looking ahead, apps & social platform brands need to establish trust, distinguish themselves as essential and find stronger ways to build deeper bonds with the consumers that are using them more frequently."
Additional significant apps & social industry findings include:
- The industry has an average Brand Intimacy Quotient of 25.7, which is below the cross-industry average of 38.1
- Consumer preference for Instagram and Twitter increased, while preference for Pinterest and Facebook declined
- Across age, there is only one shared brand: Apple Music
- Daily usage for this industry increased by 9 percent
- Compared to MBLM's previous study, consumers' willingness to pay 20 percent more for apps & social platforms rose 21 percent
MBLM also analyzed the industry in an article entitled, "The Increasing Need to Connect." The piece looks at how apps & social platforms are communicating and messaging to their audiences during the pandemic.
To view the technology & telecommunications industry findings, please click here. Additionally, MBLM offers Custom Dashboards providing extensive data for brands included in its Brand Intimacy COVID Study. To download the main Brand Intimacy COVID Study report or explore the Rankings, click here.
About MBLM: MBLM has invented a new marketing paradigm, Brand Intimacy, delivering expertise and offerings across three areas of focus: Agency, Lab and Platform. With offices in four countries, our multidisciplinary teams help clients build stronger bonds and deliver optimized marketing outcomes and returns for the long term. To learn more about how we can help you create and sustain ultimate brand relationships, visit mblm.com.
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