Millennials and the Purchase Process

Recently, I came across a report titled “Reaching Consumers during the Purchase Process.” The study, conducted by Starcom MediaVest, basically looked to identify and attribute the impact of various media types in the purchase process, to help advertisers hone in on the most opportune times when consumers are receptive to particular messages, and what sequence of media channels should be used. Very heady stuff!

One might expect that for Millennials, a digital channel would lead the charge in reaching the pivotal purchase decision, considering their proclivity to digital. However, Audio and Out of Home actually came out on top, achieving the highest correlation from consideration to purchase. They beat out TV, Digital Video, Search, Social and Print media types.

Further, for the CPG and Auto categories highlighted, amongst the audio types, AM/FM was a leader in both the ‘Consider’ and ‘Decide’ phases, and neck and neck when it comes to the ‘Purchase’ phase.

Now we know a successful media plan requires multi-media integration across media types and channels, and we always endeavor to bring a 360 ° message immersion through our many broadcast, online and experiential assets. But, if you’re looking for a good rule of thumb – The Advertising Research Foundation (ARF) concluded that a good mix for Millennial focused campaigns is 71% traditional media and 29% digital.