NEW YORK — When it comes to consumers making purchasing decisions, television continues to have the greatest influence as a marketing platform when compared to all other media, according to a recent study from global market research firm GfK.
The GfK study, titled 2017 Purchase Funnel, was conducted in collaboration with TVB, the not-for-profit trade association for the local broadcast television industry in the U.S. Among its findings, the study reveals that from consumer awareness through the purchasing stage, television remains the most important influencer in all stages of the purchase funnel and for all age demographics, including millennials.
The study examined six categories (automotive, banking services, home furnishings, legal, medical and casual dining) and 20 media platforms across the five phases of the purchase funnel (awareness, interest, visit, consideration and purchase). GfK collected responses from an opt-in panel of 3,000 consumers (adults 18+) who indicated they were in the market for each product or service and who had seen, heard or read an advertisement in any of the media platforms.
According to the study’s findings, 62% of consumers cited TV as the strongest driver of their awareness about a product or service. Local broadcast TV news was cited by 81% of respondents as the most trusted news source, while social media appeared to be the least trusted source of information with only 40% of consumers saying they trusted what they saw or heard on social media.
In addition, 65% of consumers reported TV advertising influenced their online searches, and 71% of opinion leaders said they took some kind of action after seeing or hearing ads on TV.
“With more options for advertisers to deliver their messages than ever before, the GfK study results confirm television’s continued dominant position as a proven marketing platform that offers measurable advantages for businesses and brands seeking to reach their target audiences and influence consumer behaviour across all stages of the consumer purchase decision funnel,” said Steve Lanzano, president and CEO of TVB, in a press release.
“Television’s unmatched reach and credibility still offers advertisers the best ROI-driven marketing solutions, with 46% of American consumers citing traditional TV as having the strongest influence on their decision to purchase a product or service versus 3% for social media. Importantly, the more television advertising exposures consumers experienced, the more likely they were to take some kind of action,” Lanzano added.
For more information about the 2017 Purchase Funnel study, visit https://www.tvb.org/PurchaseFunnel2017.aspx.
