The TVB, the not-for-profit trade association of America’s commercial broadcast television industry announced the release of the highly anticipated Purchase Funnel 3.0 report, conducted by The Futures Company (formerly Yankelovich).
This proprietary study, commissioned by the TVB, examines 10 business categories and 13 media platforms in the six phases of the Consumer Purchase Funnel that lead up to a consumer purchase of goods or services. The study shows that advertising has a significant impact in each of the Purchase Funnel phases, Awareness, Interest, Consideration, “Want to Purchase”, Visit Store or Website, and ultimately Make a Purchase. In fact, advertising is the:
However, advertising on each medium produces different results and very distinct levels of impact for each category along the phases of the Purchase Funnel. The Futures Company drills into these multidimensional results in its Purchase Funnel 3.0 analysis of the responses from a panel of 2,529 consumers.
“Across most categories, television is by far the primary media driver through the entire purchase funnel and as such should be considered a fundamental need for any consumer marketing program,” notes Steve Lanzano, President and CEO of the TVB. “Because of its mass reach, TV not only dominates the Awareness phase but the influence of television advertising holds throughout every phase of the consumer purchase decision process, right through to the actual purchase.
“As just one example, in the QSR (Quick Serve Restaurant) category, 48% of the panel attributed a TV ad to what drove them to make a purchase. In the QSR case, the next closest medium was the Internet, at 9%. Further, in the Automotive category, television commands the most relative strength throughout the process with 70% of awareness for the automotive category attributable to television advertising. Moreover, 43% of actual car purchases are driven primarily by a TV ad – almost four times as often as an ad seen online. So it is clear that television isn’t just effective at creating awareness, consumers confirm that it’s the critical medium for converting awareness into sales.”
In this third Yankelovich/Futures Company Purchase Funnel study, Internet and digital data is broken out into separate components to gauge any significant differences in specific online behaviors. These new media components include site usage such as social and online deal sites and hardware such as smartphones and tablets.
The report includes other vital information that can have a major impact on the development of media plans that best achieve advertisers’ marketing goals. The data also allows for further exploration of secondary media drivers, actions taken by the consumer after seeing an ad, and what the impact high frequency ad exposures have on consumer behavior.
For more information regarding the study, including TVB’s white paper, and to arrange for access to a presentation of the specific data pertaining to any of the 10 advertising categories included in the study, please click here.
TVB is the not-for-profit trade association of America’s commercial broadcast television industry. Its members include television broadcast groups, advertising sales reps, syndicators, international broadcasters, associate members and over 500 individual television stations. TVB actively promotes local media marketing solutions to the advertising community, and in so doing works to develop advertising dollars for the medium’s multiple platforms, including on-air, website and mobile. TVB provides a diverse variety of tools and resources, including this website, to support its members and to help advertisers make the best use of local ad dollars.