purchase journey

Uncovering the Role of Emotion, Subjectivity, and Non-Rational Thinking in Professional and B2B Decision Making

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.

Rebuilding MMM to Handle Fragmented Data: The Challenge of Retailer Media

Liz Riley (OLLY) and Mark Garratt (In4mation Insights) explored rebuilding and reimagining marketing mixed modeling (MMM) to better handle fragmented data, in the era of retail media networks. Mark lauded MMM as an effective technique that has contributed to financial success for many businesses. In light of data becoming increasingly fragmented, he suggested that “some reinvention of the fundamental model framework is going to be required in order to move this old venerable method into the future.” Mark and Liz examined the Bayesian approach to MMM in handling fragmented data. Mark noted that there will not be a situation “where all the data is the same granularity in one place at one time.” The Bayesian approach can “fill in the blanks” of missing or fragmented data using reasonable estimates, creating a more accurate picture, which traditional MMM falls short of in the retail media environment.

Panel Discussion

In this session, Elea McDonnell Feit (Drexel University) led a panel discussion with the day’s speakers on innovations in experiments in marketing and referred to these experiments as a “mature part of the measurement system.” In this discussion panel members brought up ideas and examples of how to effectively employ randomized controlled trials (RCT) and the benefits of using experiments for attribution. They examined the lack of patterns stemming from advertising incrementality and credited this to the changing nature of the consumer journey and unique factors in strategy, the business life cycle and the product being sold. The panel also explored processes to ensure the deployment of a successful and effective experiment. In addition, geo-based tests were also considered. Other topics discussed were the cost-effectiveness of running experiments and the value of failed experiments.

Live InContext Retail Media Testing

Jeff (Ephraim) Bander from Eye Square explained that measuring shopper behavior and decisions in context (in the online ecommerce environment in which the shopping actually takes place) is more meaningful than only surveying consumers about their online shopping behavior. Collecting in context data about the online actions of the shopper provides detailed path-to-purchase metrics, such as attention, interest and purchase behavior. Participants are not aware of what is being tested in the live environment. Additional explicit data is collected via survey.

The Augmented Reality Playbook

The capabilities of AR ads, their impact on branding metrics, as well as the role of AR ads in the consumer purchase journey, were presented by Aarti Bhaskaran of Snap and Prayushi Amin of Magna Global.

The Augmented Reality Playbook

 

Aarti Bhaskaran Ad Research and Insights, Global Lead, Snap Inc.

Brian HughesEVP, Managing Director, Audience Intelligence & Strategy, Magna Global

The capabilities of AR ads, their impact on branding metrics, as well as the role of AR ads in the consumer purchase journey, were presented by Aarti Bhaskaran of Snap and Brian Hughes of Magna Global. AR should be an integral part of the marketing mix. The benefits of AR ads include increasing brand metrics, such as unaided brand awareness, aided ad recall and purchase intent. Additionally, AR’s personalized experiences help build deeper brand connections with consumers while providing utility and excitement. These conclusions were reached as a result of AR ad testing. The test methodology included a representative mobile panel, randomization and exposure to one of three Snapchat AR ads or to a 15-second pre-roll control ad. The post-exposure survey measured the impact of AR ads on branding metrics. Testing was done in U.S., Canada, France, Australia and Saudi Arabia with five brands across six industries.

Key Takeaways

  • Marketers should view AR ads as brand amplifiers rather than add-ons and use these ads strategically.
  • AR ads perform as well as pre-rolls to achieve brand objectives. Additionally, consumers considered AR ads more enjoyable, as well as providing more utility and information than pre-rolls.
  • AR ads play different roles in each stage of the purchase journey and marketers should match the appropriate AR lens with the brand goal and audience target at each stage.
  • Sequencing the exposures of AR ads can help amplify their impact. Starting the sequence with a video ad followed by the AR ad resulted in an amplified impact on brand metrics. Alternatively, placing the AR ad in between two video ads showcased the brand as cheerful and boosted search intent.

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Attribution & Analytics Accelerator 2022

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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Taste-testing the Brand Premium

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.

How Framing Purchase Interactions Affects Outcomes

  • MSI

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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Uncovering the Role of Emotion, Subjectivity, and Non-Rational Thinking in Professional and B2B Decision Making

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.

Member Only Access