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What Consumers Would Buy on Friends Recommendations Alone by Augustine Fou
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What Consumers Would Buy on Friends Recommendations Alone by Augustine Fou

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What might consumers buy on freinds' recommendations alone? Turns out they would buy low cost items or try services like hair stylist, barber, etc.

What might consumers buy on freinds' recommendations alone? Turns out they would buy low cost items or try services like hair stylist, barber, etc.

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What Consumers Would Buy on Friends Recommendations Alone by Augustine Fou Presentation Transcript

  • 1. Augustine Fou- 1 - Marketing Science April 2014 Source: Marketing Science Consulting Group April 2014
  • 2. Augustine Fou- 2 - Augustine Fou- 2 - Marketing Science March 2014 Recommendations from friends is #1 Consumer reviews posted online is #2
  • 3. Augustine Fou- 3 - Author’s Commentary “Most modern consumers are savvy; so while 45% won’t buy anything on just recommendations alone, about half of them would try restaurants or services (hair stylist) and low cost items on friends’ recommendations alone. But notice that for medium and big ticket items, they usually do further research online.” -- Dr. Augustine Fou
  • 4. Augustine Fou- 4 - Additional Details
  • 5. Augustine Fou- 5 - In the past WEEK, do you recall seeing ANY of the following types of ads? 44% Don’t Recall ANY Ads Source: Marketing Science Custom Research, March 2014
  • 6. Augustine Fou- 6 - 70% Don’t Think Ads Help decisionmaking, but are good for awareness Source: Marketing Science Custom Research, March 2014 low-cost item big-ticket item “Which of the following help you decide to buy a specific low-cost/big-ticket item” N = 1,000
  • 7. Augustine Fou- 7 - big-ticket item low-cost item Consumers are savvy...
  • 8. Augustine Fou- 8 - Dr. Augustine Fou – Chief Digital Strategist “I study consumer behavior and advise clients on what actions and advertising are likely to be acceptable to modern users, who clearly are very savvy .” FORMER CHIEF DIGITAL OFFICER, HCG (OMNICOM) MCKINSEY CONSULTANT CLIENT SIDE / AGENCY SIDE EXPERIENCE PROFESSOR AND COLUMNIST ENTREPRENEUR / SMALL BUSINESS OWNER PHD MATERIALS SCIENCE (MIT '95) AT AGE 23 @acfou ClickZ Articles: http://bit.ly/augustine-fou-clickz Slideshares: http://bit.ly/augustine-fou-slideshares LinkedIn: http://linkd.in/augustinefou
  • 9. Augustine Fou- 9 - Related Articles http://www.slideshare.net/augustinefou/digital-advertising-benchmarks-2014-by- augustine-fou http://www.slideshare.net/augustinefou/usefulness-of-advertising-by-augustine-fou- marketing-consigliere http://www.slideshare.net/augustinefou/mythbusting-tv-advertising-by-augustine-fou http://www.slideshare.net/augustinefou/effectiveness-of-digital-ads-by-augustine-fou http://www.slideshare.net/augustinefou/industry-actions-against-digital-ad-fraud- reported-by-augustine-fou http://www.slideshare.net/augustinefou/mistargeted-ads-investigated-by-augustine-fou- technical-forensics https://www.linkedin.com/today/author/84444-augustinefou Augustine Fou- 9 -