The survey, conducted by Fabrizio, MacLaughlin & Associates, was designed to reveal the impact on consumer decision-making of traditional media, “word of mouth” and the Internet. The study also measured similarities and differences in consumer decision-making by three key age groups: “Echo Boomers” (ages 18-31), “Gen Xers” (ages 32-41) and “Baby Boomers” (ages 42-62).
Among all respondents, key findings from the Lumin-sponsored study include:
* Food and beverage items are the least likely to prompt Internet searches – and more likely to use traditional media and word of mouth;
* Consumer technology products are most likely to prompt Internet searches, with the possible exception of telecommunications products and services;
* Price and complexity of the product seems to dictate the decision-making process - the higher the price and the more complex the product, the more likely that Internet resources will be used to make decisions;
* When searching online for product/service information, corporate sites, search engines, product reviews and user feedback matter most;
* Although use of social networks or blogs is on the rise, they are a far less important resource for consumers looking to make a purchase; and
* Buyers spend the most time researching consumer technology products – and the least time looking at food and beverage products.
“This survey offers us insight into how consumers – across a broad spectrum of ages – are using traditional media, the Internet and social networks to make decisions,” explained Mark Raper, a founder and chairman of The Lumin Collaborative. “As professional communicators and marketers, this type of information strengthens the strategic and tactical counsel we bring to clients – and it offers us a glimpse of what’s guiding consumer decision-making.”
The survey focused on four primary product/service categories: financial products and services, healthcare products and services, consumer technology products, and health and beauty products.
According to Raper, Lumin’s survey also determined:
* There is some correlation between the level of technical information needed and reliance on the Internet as the source of the information – i.e., more technical products like prescription medications and LCD TVs are likely to prompt online searches;
* Absent “word of mouth” recommendations, the Internet generally is the main information source for products or companies;
* For food and beverage and healthcare information, “word of mouth” is very potent –even among those who say the Internet is their main source of information;
* Overall, survey respondents spend slightly more time on the Internet daily than watching TV; and
* Those who use the Internet as their main source of information spend more time researching as compared to other media sources.
Among the age groups studied (Echo Boomers, Gen Xers and Baby Boomers), it was found that Echo Boomers are more reliant on the Internet as their primary information source. Alternatively, Baby Boomers place greater value on “word of mouth” and traditional media. “Word of mouth” doesn’t suffer among Echo Boomers relative to the Internet; it is traditional media sources, particularly print media, that suffer.
“It’s not surprising that for younger generations the Internet is the preferred source to gather information and research products/services. What is valuable is the fact that despite the rise of electronic media, “word of mouth” remains a powerful influence across all age groups. Moreover, our study shows that blogs have little impact in the actual consumer decision-making process – which counters popular sentiment,” said Raper.
