GfK Study: Television’s Influence on Consumer Purchasing Decisions is Greater Than All Other Media Combined
NEW YORK, New York (August 1, 2017) – A proprietary “2017 Purchase Funnel” study conducted by GfK, a trusted leader in market research, in collaboration with TVB, the not-for-profit trade association for local broadcast television, revealed today 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 (adults 18-34).
The study examined six categories (automotive, banking services, furniture, bedding/carpet, legal, medical and QSR/casual dining) and twenty 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 were “in the market” for each product or service and who had seen, heard or read an advertisement in any of the media platforms.
“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 behavior across all stages of the consumer purchase decision funnel,” said Steve Lanzano, President and CEO of TVB. “ 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.”
Other GfK Study Findings:
- 62% of consumers cited TV as the strongest driver of their awareness about a product/service
- Local broadcast TV news is the most trusted (81%); social media the least trusted (40%)
- 65% of consumers reported TV advertising influenced their online searches
- 71% of opinion leaders who saw TV ads took some kind of action
Click here for more information about the 2017 Purchase Funnel.
TVB is the not-for-profit trade association representing America’s $21 billion local broadcast television industry. Its members include over 800 individual television stations, television broadcast groups, advertising sales reps, syndicators, international broadcasters and associate members. TVB actively promotes local media marketing solutions to the advertising community and works to develop advertising dollars for the medium’s multiple platforms, including on-air, online and mobile. TVB provides a diverse variety of tools and resources, including its website, to support its members and to help advertisers make the best use of local ad dollars.
EVP and Chief Communications Officer, TVB
Joseph Jaffoni, Jennifer Neuman