Marketing Forecast from Ad-ology

Nearly one in 5 U.S consumers aged 18 to 24 cited online video as an influence on their choice of banks. More Consumer Spending logothan one-third was influenced by social media such as positive and negative product reviews, blogs, and social networks according to a recent Ad-ology Research study.

Nearly one in eight higher income consumers said social media influenced their choice of real estate services, the highest of all media types, according to the Summer 2009 Ad-ology Media Influence on Consumer Choice survey. Of online, social, and traditional media, online media had the most influence across all demographics. Real estate agency Web sites were the most influential online media. The lucrative 25-to-34 age group was noticeably more influenced by video than other age groups.

More than 40% of recently surveyed 18 to 24 year olds said a college or university Web site was the most influential media when choosing a college. Social networks were also influential, cited by a quarter of that demographic in the Summer 2009 Ad-ology Media Influence on Consumer Choice survey.

Traditional media influenced more than 30% of recently surveyed pizza consumers, while online media like restaurant Web sites were the most influential for restaurant-goers. The Ad-ology Research study also found 61 percent of U.S. consumers surveyed said they had visited “a restaurant they had not visited before” in the last year. Online media influenced 40% of recent restaurant visitors, with restaurant Web sites having the most influence. Traditional media proved more effective than social media for these consumers. Twenty-seven percent were influenced by newspaper, and 25.4% said the same for direct mail.

Nearly one in eight higher income consumers said social media influenced their choice of real estate services, the highest of all media types, according to the Summer 2009 Ad-ology Media Influence on Consumer Choice survey.

Thirty eight percent of U.S. auto buyers are willing to drive more than an hour for their best deal, highlighting the importance of aggressive advertising by dealers. The Fall 2009 Ad-ology Media Influence on Consumer Choice survey also found online media is now more influential than social or traditional media on auto purchasing/leasing decisions. “The growing influence of online media has created the opportunity for price-sensitive consumers to shop beyond their own backyard,” said C. Lee Smith, president and CEO of Ad-ology Research. “Dealerships must promote themselves consistently because they have more competition than might be readily apparent,” Smith said.