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2010 online influence trend tracker

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2010 online influence trend tracker 2010 online influence trend tracker Document Transcript

  • CONSUMERS LOOK ONLINE TO VERIFY PURCHASE RECOMMENDATIONS, EVEN FROM THEIR MOST TRUSTED SOURCES American consumers are no longer taking the recommendations of family or friends at face value, according to the latest Cone research. Before deciding whether to purchase recommended products or services, more than four-out-of-five consumers (81%) will go online to verify those recommendations, specifically through researching product/service information (61%), reading user reviews (55%) or searching ratings websites (43%). These are among the findings of the newly released 2010 Cone Online Influence Trend Tracker. Whom Do Consumers Trust? As consumers have become increasingly impervious to traditional media, marketers have realized that consumers are turning to their personal network of friends, family and acquaintances to confirm their opinions prior to making purchase decisions. Heeding this behavior shift, marketers began targeting consumers’ inner circles with word-of-mouth then social media campaigns as the new marketing tipping point for purchase decisions. Today, these campaigns are no longer enough. Data from the 2010 Cone Online Influence Trend Tracker reveal consumers have added yet another step prior to reaching for the credit card – online verification. Online Verification: The New Consumerism Norm Increasing skepticism of traditional media, technology advancements and growing online connectivity have all combined to give consumers ultimate control of their research volume before deciding what, when and how to buy. Thus, personal recommendations alone are no longer enough to guarantee a purchase, as three-quarters of consumers (77%) agree they are more likely to purchase products or services when they can find additional recommendations about them online. Among 25- to 34-year-olds, online verification is even more vital; 91 percent will go online to verify recommendations before making a purchase and nearly the same number (90%) are more likely to purchase products or services after finding additional online recommendations. Cost Not a Factor, Consumers Verify Product Claims This information-seeking behavior is not exclusive to high-cost purchases. Consumers will verify recommendations online for products or services at a range of price points, including: • Low cost: 72% of Americans would go online to do additional research about recommended movies or restaurants; • Moderate cost: 85% would go online to do additional research about recommended computer equipment; and, • High cost: 82% would go online to do additional research about a recommended car. Cost may not be a factor, but the tone of online information plays a powerful role in the purchase decision, often outweighing the initial recommendation. More than two-thirds of consumers (68%) agree negative product or service information found online can be a mitigating factor in deciding whether to purchase. Conversely, positive information reinforces purchase recommendations for a full 80 percent of Americans. Online verification does take on a more crucial role for certain purchase criteria. For example, two-thirds of consumers will go online to verify recommendations about products or services they’ll own for many years (66%) or those that have an unfamiliar feature (65%). Product claims are also fair game, as Americans will verify recommended products or services with health and safety claims (66%). BUILDING BRAND TRUST SM phone: 617.227.2111 fax: 617.523.3955 855 Boylston Street I Boston MA 02166 I www.coneinc.com
  • 2010 Online Influence Trend Tracker Fact Sheet Americans trust family and friends for product or service recommendations: Co-workers 2% Strangers 2% Other Acquaintances 2% Friends 31% Family 63% BUT, American consumers still go ONLINE to verify recommendations about products or services before deciding whether to purchase them: After getting a recommendation about a product or service I may want to purchase, I go online to Total 81% do additional research about that product or service before deciding whether to purchase it. Ages 25-34 91% I am more likely to purchase products or services when I can find additional Total 77% recommendations about them online. Ages 25-34 90% After getting a recommendation about a product or service, I go online to do additional Total 66% research about its HEALTH AND SAFETY CLAIMS before deciding whether to purchase it. Ages 25-34 74% After getting a recommendation about a product or service, I go online to do additional research Total 55% about its ENVIRONMENTAL CLAIMS before deciding whether to purchase it. Ages 25-34 69% 0 20 40 60 80 100 BUILDING BRAND TRUST SM phone: 617.227.2111 fax: 617.523.3955 855 Boylston Street I Boston MA 02166 I www.coneinc.com
  • 2010 Online Influence Trend Tracker - Fact Sheet Americans will also go online to verify recommendations about products associated with causes or nonprofit organizations they are considering supporting: After getting a recommendation about a NONPROFIT I may want to support, I go online to do additional research about that nonprofit before deciding whether to support it. Total 71% Ages 25-34 80% After getting a recommendation about a product or service I want to purchase that benefits a SOCIAL OR ENVIRONMENTAL CAUSE, I go Total 62% online to do additional research before deciding whether to purchase it. Ages 25-34 75% 0 10 20 30 40 50 60 70 80 Consumers go online to search for product or service information and user reviews before deciding whether to purchase recommended products or services: Research product/service information Total 61% Ages 25-34 66% Search for consumer or user reviews Total 55% Ages 25-34 61% Search for the product/service on ratings websites (e.g., Consumer Reports, Angie’s Total 43% List, Yelp!, etc.) Ages 25-34 43% Search for opinions from product/service experts Total 38% Ages 25-34 42% Read articles or blog posts about the product/service Total 28% Ages 25-34 37% Solicit opinions from social network(s) Total 10% Ages 25-34 23% 0 10 20 30 40 50 60 70 BUILDING BRAND TRUST SM phone: 617.227.2111 fax: 617.523.3955 855 Boylston Street I Boston MA 02166 I www.coneinc.com
  • 2010 Online Influence Trend Tracker - Fact Sheet The tone of information found online will determine whether consumers decide to purchase recommended products or services: 100 87% 80 Yes 74% 80% Yes 60 68% 40 20 Ages 25-34 Ages 25-34 Total Total 0 Has NEGATIVE information Has POSITIVE information you’ve you’ve read online ever made read online ever reinforced your you change your mind about decision to purchase a product or purchasing a product or service service recommended to you? recommended to you? Cost is not a factor when Americans decide whether to verify product or service recommendations online: 100 93% 93% 88% 85% 80 82% 72% 60 40 20 Ages 25-34 Ages 25-34 Ages 25-34 Total Total Total 0 Low Cost Moderate Cost High Cost I would go online to I would go online to I would go online to do additional research do additional research do additional research about movies or about computer about a car that was restaurants that were equipment that was recommended to me recommended to me recommended to me (e.g., I look at Car & (e.g., I read reviews, (e.g., I look at the Driver’s website, read watch trailers, look at product’s website, read reviews, etc.). an online menu, etc.). online articles from a tech magazine, etc.). BUILDING BRAND TRUST SM phone: 617.227.2111 fax: 617.523.3955 855 Boylston Street I Boston MA 02166 I www.coneinc.com
  • 2010 Online Influence Trend Tracker - Fact Sheet Consumers will go online to verify recommendations about a product or service: When it is a product or service I’ll own or use for many years. Total 66% Ages 25-34 63% When it is a product or service that is new or has a new feature I’m not yet familiar with. Total 65% Ages 25-34 64% When the product or service is one I’ve spent a long time looking for. Total 50% Ages 25-34 52% When the product or service will require a time commitment (e.g., a movie will take up three hours of my day, a dinner Total 33% at a new restaurant will take up an entire evening), and I want to ensure Ages 25-34 45% my time will be well spent. 0 10 20 30 40 50 60 70 About the Survey: The 2010 Cone Online Influence Trend Tracker presents the findings of an online survey conduct- ed June 7-8, 2010 by ORC among a representative U.S. sample of 1,055 adults comprising 513 men and 542 women 18 years of age and older. The margin of error associated with a sample of this size is + 3%. About Cone: Cone (www.coneinc.com) is a strategy and communications agency engaged in building brand trust. Cone creates stakeholder loyalty and long-term relationships through the development and execution of Cause BrandingSM, Brand Marketing, Corporate Responsibility, Nonprofit Marketing and Crisis Prevention and Management initiatives. Cone is a part of the Omnicom Group (NYSE: OMC) (www.omnicomgroup.com). BUILDING BRAND TRUST SM phone: 617.227.2111 fax: 617.523.3955 855 Boylston Street I Boston MA 02166 I www.coneinc.com