What Influences Consumers Purchase Decisions Most Corroborated by Augustine Fou

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Recommendations from friends and reviews/opinions from other consumers are the top most influential factors that help consumers decide what to buy.

Recommendations from friends and reviews/opinions from other consumers are the top most influential factors that help consumers decide what to buy.

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  • 1. Augustine Fou- 1 - What Influences Consumers’ Purchases Most? Dr. Augustine Fou http://linkd.in/augustinefou acfou @mktsci .com March 2014
  • 2. Augustine Fou- 2 - Author’s Commentary “Our research corroborates what Nielsen and Forrester have found every year since 2010 – that recommendations from friends and reviews from other consumers carried the most weight. We dug further -- 44% of users don’t recall seeing them at all, and for those who did about 70% don’t think the ads are useful to their purchase decision. So we triangulated the answer from different angles and the data agreed.” -- Dr. Augustine Fou
  • 3. Augustine Fou- 3 - Deloitte April 2014 Source: Deloitte via MarketingCharts April 1, 2014
  • 4. Augustine Fou- 4 - Augustine Fou- 4 - Marketing Science March 2014
  • 5. Augustine Fou- 5 - Augustine Fou- 5 - Nielsen Q3 2013 http://hk.nielsen.com/new s/2013-09-19.shtml
  • 6. Augustine Fou- 6 - Forrester 2013 Digital “pull” content Digital “push” content (ads)
  • 7. Augustine Fou- 7 - Augustine Fou- 7 - Source: Nielsen, April 2012 Nielsen Global Trust in Advertising Survey Nielsen Q3 2011
  • 8. Augustine Fou- 8 - Forrester Research (2010)
  • 9. Augustine Fou- 9 - Additional Details
  • 10. Augustine Fou- 10 - 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
  • 11. Augustine Fou- 11 - Who’s Ignoring Which Ads? Source: Harris Interactive via MarketingCharts Feb 2014
  • 12. Augustine Fou- 12 - 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
  • 13. Augustine Fou- 13 - Closer Look - Comparison Most useful for “big ticket” items Most useful for “low cost” items Corroborates the hypothesis that low cost items like soup and soda need awareness type ads, while big ticket items like cars and computers need digital ads.
  • 14. Augustine Fou- 14 - What Consumers DO Use ... Source Parago via Marketing Charts March 24, 2014
  • 15. Augustine Fou- 15 - big-ticket item low-cost item Consumers are savvy...
  • 16. Augustine Fou- 16 - Dr. Augustine Fou – Chief Digital Strategist “Our custom survey data corroborates Nielsen’s findings from 2011 where ‘recommendations from friends’and ‘online consumer opnions/reviews’most influenced other users’purchases.” 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 Augustine Fou@acfou ClickZ Articles: http://bit.ly/augustine-fou-clickz Slideshares: http://bit.ly/augustine-fou-slideshares LinkedIn: http://linkd.in/augustinefou
  • 17. Augustine Fou- 17 - 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 Augustine Fou- 17 -
  • 18. Augustine Fou- 18 - Most Effective Advertising For College Students