This MSI working paper offers insights into advertising’s role as a strategic tool in financial services. Researchers examined nine years’ worth of auto insurance industry data to uncover the effects of advertising, in terms of awareness and purchase consideration at each purchase stage along the customer journey.
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The latest enabling technologies, such as voice-based smart assistants like Alexa and Siri, along with intelligent shopping carts, make some consumers’ purchasing decisions easier. But they can also potentially lead to harmful outcomes. In this latest MSI working paper, researchers Iman Paul, Rumela Sengupta, Samuel Bond and Satadruta Mookherjee, examined the potential pitfalls of smart device usage in a series of online experiments with paid subjects.
Member Only AccessDo you ask Alexa from your smart speaker to purchase items for you? Research shows that voice-activated, AI-enabled devices are becoming increasingly important for online retailers. They can increase search and even purchase, especially among younger consumers and for categories of high purchase frequency or low substitutability. Rather than cannibalizing other channels, use of such devices creates positive spillover, since shopping is integrated into other, consumer routines. Read the article.
Do you ask Alexa from your smart speaker to purchase items for you? Research shows that voice-activated, AI-enabled devices are becoming increasingly important for online retailers. They can increase search and even purchase, especially among younger consumers and for categories of high purchase frequency or low substitutability. Rather than cannibalizing other channels, use of such devices creates positive spillover, since shopping is integrated into other, consumer routines.
As part of MSI’s Expert Curation series, Priya Raghubir, Professor of Marketing, New York University, and an MSI academic fellow, discusses a series of studies that focus on how modes of payment affect consumer purchase behavior. Concerns over Covid-19 and the need to social distance have accelerated the use of cashless and touchless forms of payment. This paper outlines the latest research on associations between these and other payment options and consumer spending habits, such as spending likelihood, spending amount, spending patterns, brand loyalty and customer satisfaction.
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Animals have been used in ads effectively for decades, yet little is known about their effects on consumer reactions along the purchase-decision process. New research shows evidence of animals’ influences on different stages of the decision-making journey, with women reacting more positively than men. But the outcomes changed when human models were included in the ads.
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From stars with massive followings to micro and nano influencers, companies are allocating large parts of their budgets towards influencer marketing. According to Mediakix, the estimated total ad spend on influencer marketing is expected to increase to $5-$10 billion dollars in 2020. Industry experts and content creators discussed how to determine the right Influencers with whom to align their brand and the pitfalls of influencer fraud (and how to avoid them). Note: The full summary is available to members only.
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Shopper marketing change is rampant! The good news: disruption is creating opportunities – not just challenges – and the industry is responding with new approaches to increase market share and revenue. Learn how leading brands and other experts are engaging consumers and building growth in this 2019 ARF SHOPPERxSCIENCE event summary.
As the consumer journey becomes increasingly complex, many marketers are turning to artificial intelligence to decipher it. But how does it actually help them be more effective at understanding and reaching consumers at different stages? A trio of academics explained how AI is transforming advertising.
Member Only AccessConference Paper – “The Purchase Journey: How do Radio and OOH Stack Up?” - iHeartRadio/SMG
In today’s time-pressed world, where consumers decide what and when to buy in decreasing time units, marketers are challenged to reach their target audiences at the most influential moment.
SMG and iHeart Media collaborated on research to better understand which media types and vehicles can impact consumer decision-making by examining the data signals that consumers share during their path to purchase.
Through an analysis of the SMG proprietary global consumer panel, PACE, we examined the relationship between media exposure and category consideration and purchase, giving insight into the role of different media channels during that journey, and how it varies by category and by target audience.
From MediaPost– “The Key to Audience-Based Metrics: Testing, Testing and More Testing”
"Science needs validation," said George Ivie, CEO of the Media Rating Council. The event was the Coalition for Innovative Media Measurement (CIMM) Cross-Platform Media Measurement and Data Summit last week.
That perspective seems to align with the Interactive Advertising Bureau (IAB). In a primer the association released on improving ad viewability, they outlined strategies for working with third-party vendors or using an internal measurement system as a "source of truth" that can be used as a baseline and in testing.