Audio Insights: Study Confirms Strong Audio/Purchase Connection
According to Nielsen’s Audio Today Report, AM/FM radio reaches 265 million persons each week. As the largest reach medium, AM/FM radio has been the dominant source for reaching potential consumers on-the-go, close to the point of purchase. With the rise of smartphone and tablet ownership and more mobile forms of media, including social – has the influence on how consumers make purchasing decisions shifted? A recent SMG PACE Panel shows that when it comes to reaching consumers, from the moment of consideration to point of purchase, audio remains a powerful tool. The study found that there was a 90% correlation (across all categories) between purchase consideration and exposure to any audio – compared to 55% correlation with any TV and 33% correlation with any digital video.
Breaking it down by type of audio, correlation with AM/FM, streaming, and satellite all exceed 80% during purchase consideration and decision-making. Satellite radio has the strongest relationship at actual time of purchase (0.77 correlation).
What about Millennials? Audio continues to demonstrate one of the strongest relationships between usage and the purchase process among the desirable 18-34 group. When considering a product, the correlation among Millennials when exposed to any audio is 89% (versus 91% for A18+). Not surprisingly, social is also stronger compared to all adults when it comes to consideration and decision-making.
Radio, and audio in general, is doing an amazing job of keeping up with consumers today. #AskAdLarge how you can use the power of audio to captivate and drive purchases for your brand.
Souces: Nielsen, State of the Media: Audio Today, Persons 6+, Feb 2016; Starcom MediaVest Group, “Reaching Consumers During the Purchase Process”, June 2016