Australia is a nation of information hunters and gatherers when it comes to planning a purchase, with potential customers looking at up to seven advertising channels, according to the latest research commissioned by Australia Post.
More than 8,500 Australians participated in the study run by the Australian Consumer, Retail, and Services (ACRS) Research Unit within Monash Business School’s Department of Marketing. The study looked at which combinations of advertising channels influence their banking, finance, superannuation or utilities purchases.
The report explores what advertising channels customers use across TV, radio, print, personalised direct mail, emails, websites, social media, billboards, online banners plus catalogues and flyers.
Taking an in-depth look at how customers receive messages through the different channels, Australia Post’s General Manager Customer Data & Insights, Paul Fanthorpe said that while digital channels play an increasingly important part, marketers can’t discount the power of multi-channel campaigns.
“Although there are more online tools and channels at a marketer’s disposal than ever before, customers still turn to multi-channels to make complex purchasing decisions; they rarely ever rely on a single channel.”
Key findings from the research indicate:
- Overall, websites influence 35 per cent of a customers’ purchase
- Personalised direct mail plays a key role in influencing customers in the initialconsideration stage of their purchase journey
- TV ads are well received by all demographics except Retirees
- Social media ads do not influence service purchases in any audience segment
- As consumers age, the number of channels that influence their purchase decisiongrows. For example, the Youth segment focuses on just four channels, whereasRetirees consider up to seven channels.
Releasing the report, Mr Fanthorpe said it was the first time that quantifiable data against the influence of channels in complex purchasing decisions has been captured.
“The report shows that there is an opportunity for marketers to refine the messages they send through their channels to meet different expectations. In the long run, this means that advertising and marketing dollars can be better optimised to create awareness, familiarity, trust and finally, lead to a purchase.” he said.
