The boldest and brightest minds joined us November 14 - 17 for Attribution & Analytics Accelerator 2022—the only event focused exclusively on attribution, marketing mix models, in-market testing and the science of marketing performance measurement. Experts led discussions to answer some of the industry’s most pressing questions and shared new innovations that can bring growth to your organization.
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Even in instances where consumers face lots of options, they routinely pay a premium for national brands over private labels, research shows. This is true even when they believe that the quality of a private label is comparable. However, one thing that can shift consumer preferences toward private label brands is blind taste tests—at least in the short-term.
What kind of interface does your ecommerce website or app use? How does that affect the customer experience? These are important questions because how your purchase interface is framed affects the customer experience along the entire decision journey, according to this MSI working paper. “Quantity-integrated” formats, where the customer indicates simultaneously whether and how much to buy of something, are more profitable than sequential formats, where the customer is first asked for their purchase decision, followed by a specific quantity.
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In this Insights Studio, “Professionals are People Too: Uncovering the Role of Emotion, Subjectivity, and Non-Rational Thinking in Professional and B2B Decision Making”, Abigail Ahearn of HawkPartners conducted an enlightening presentation exploring the B2B decision-making process and the implications emotional and cognitive bias can play for B2B marketers and their clients. Abigail then led an insightful panel discussion featuring Beni Gradwohl (Cognovi Labs), Lateef Mauricio Abro (Digitas) and Ryan Boh (Oracle Advertising), where they examined the myth that B2B decisions are typically steeped in rationality. In both the presentation and panel discussion the unique factor in navigating multiple stakeholders in the B2B decision-making process was highlighted. This led to the exploration of the complex factors in negotiating B2B client biases, emotional blockers and the actual "hyper-emotional" component of B2B decision-making. A variety of ideas and solutions on how these biases and emotional blockers can be mitigated were discussed.
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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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Consumers increasingly make purchase decisions based on online product reviews and rankings. Meanwhile, advertising is often designed to inform about a product or service’s benefits. Within both of these scenarios, consumers learn how to dovetail new understandings into what they already know about a brand, product or service. In this study, researchers looked to quantify the impact prior information (e.g. information obtained from past purchases or use) on consumer search and purchase decisions.