Here’s a study that paints a rosy picture for broadcast and cable television stations with respect to their power to convert media consumers to buyers of goods and services.
Of all media, TV’s impact on consumer purchasing behavior is tops. In fact, the impact is greater than all other media combined.
That said, the findings come from a study conducted on behalf of the Television Bureau of Advertising (TVB).
The findings come from a study conducted for TVB by GfK, which measured the influence of media on consumers during their purchase decision making process.
The “2019 Purchase Funnel” study, in particular, reviewed the consumer’s receptiveness to advertising across several platforms.
Among the respondents, traditional television advertising had the strongest influence on their purchasing behavior.
But, all media has some degree of effectiveness, it seems. According to GfK, 96% of in-market consumers became aware of a product or service from advertising on any media, with 85%stating that media influenced their purchase decision.
That said, TV has a big advantage, if you believe GfK. Of the study’s respondents, 56% cited TV as the most important driver of their awareness about a product or service — greater than all other media combined, at 40%.
Furthermore, 85% of adults and 91% of millennials reported TV advertising influenced their online searches, and 78% of “opinion leaders” who saw TV ads took some kind of action.
The study examines seven advertising categories and approximately 20 media platforms across the five phases of the purchase funnel — Awareness, Interest, Visit, Consideration and Purchase.
Responses from an opt-in panel of 3,000 consumers aged 18+ were “in the market” for each product or service. They had seen, heard or read an advertisement in any one of the media platforms analyzed.
Respondents did not have to be exposed to a TV ad to be included in the study.
Commenting on the TVB-commissioned GfK study was TVB Chief Research Officer Hadassa Gerber. She said, “The most important insight for marketers from the GfK study is that exposure to an advertising platform does not guarantee its importance to consumers— with the exception of television. With more options for advertisers to deliver their messages than ever before, television continues to have the greatest impact on driving awareness and motivating consumers to take action.”
TVB President/CEO Steve Lanzano added, “The GfK study results confirm television’s continued dominant position as a proven marketing platform that offers measurable advantages for advertisers seeking to reach their target audiences and influence consumer behavior across all stages of the purchase decision making process.”