When considering new social media platform that appears to have a vast following, be aware that the vast following may not be depending on that platform for purchase decision information.
Knowledge Networks released new report on the influence of social media on purchasing decisions.
It found on average, 83% of the Internet population* is involved in social media. Even though 47% of the populace visits social media sites weekly, the report found that less than 5% use the sites for aide in purchase decisions in nine specific product/service categories. These categories were distinguished as Travel, Banks, Clothes, Eating out, Cell phones, Personal care products, Cars, Groceries, and Prescriptions or OTC drugs. The highest ranked category was Travel with 4% of the respondents admitting to regularly turning to social media for assistance.
Among those who participated, only 16% of users say they are more willing to make a purchase from a company that has advertised on social sites.
* A population is defined as people between the ages of 13 to 54.
In a media-gorged society, it is difficult to fully engage people’s attention. In a dark theatre where a giant screen is the dominant focal point, your advertisement can truly compete for the target audience’s full attention.
According to MediaPost, cinema advertising company ScreenVision commissioned a study by NewMediaMetrics. This study was to rank the assorted media by the amount of “emotional attachment” each created with the audience in regards to an advertisement. Results showed that cinema advertising had the highest level of “emotional attachment” for products advertised.
“Emotional attachment” was found to be 25% higher in cinema advertising than TV advertising in people who often shop at JCPenney’s. In addition, people who have shopped for electronics in the last six months were 45% more emotionally attached to cinema ads than the other 16 out-of-home advertising subcategories.
If debating about including theatre advertising in an overall media plan, movie attendance is higher during the summer months and the fourth quarter holiday season. Theatre advertising can also be geographically targeted to reach the best customer prospects.
When considering a new media platform that appears to have a huge chunk of the market, make sure that all sides of the point have been reviewed. Percentages and budget growths can be misleading without looking at the overall picture.
A research study was conducted by Ball State University and Sequent Partners and funded by Nielsen. It proves that the number of Americans using online video sites has climbed 339% since 2003. In the last year, the number of streams grew 41%, unique viewers of online video grew 10%, and the total minutes engaged with online video grew by 71%. With 87% more online social media users now than in 2003, an estimated 883% more time has been devoted to online video. The US market has an approximated 32% growth of advertising budgets for online video.
Online video can appear exponentially dominating compared to the lack of growth in other media; however, that data can be misleading without the supporting facts. Other reports have proven that traditional television still accounts for 99% of all video consumption. With the average person watching about 8.5 hours on some kind of screen, online video only is credited for 2.4 minutes of that time.
