Advertisement Influences on Consumer Buying Behavior

Content consumption is soaring this year due to stay-at-home orders and self-isolation. Shifts in viewing habits are impacting how consumers are interacting with content and ads across devices and influencing how consumers are making the decision to buy from different brands.  

Last week, a press release by DoubleVerify analyzed the fundamental shifts in media and advertising during 2020. The study looks at how different types of devices and new technologies shape consumer engagement with ads. According to the study, daily time spent consuming content has doubled globally since the start of the pandemic – a jump from an average of just over three hours per day to just under seven hours per day. Over 10,000 people were surveyed across five different countries, including the US. It also shows that consumers are more open to ads and that 44 percent of consumers are trying new brands after seeing a relevant ad, whether on social media or on TV. 

“This study highlights how transformative 2020 has been for advertisers. From the doubling in content consumption to the perils of navigating ever more dominant fake news cycles, these shifts highlight the critical challenges brands face this year and beyond. Never has reaching audiences, in the right place and context, been more essential to drive campaign performance.” commented Mark Zagorski, CEO at DoubleVerify. 

More than 4.5 billion people now use the internet, while social media users have passed the 3.8 billion mark. Nearly 60 percent of the world’s population is already online and the latest trends suggest that more than half of the world’s total population has engaged with social media this year. 

Earlier this year, Hootsuite released a report on YouTube statistics that shows 81 percent of fifteen to twenty-five year olds in the US currently use YouTube. People upload 500 hours of video content every minute, and 70 percent of what people watch on YouTube is determined by its recommendation algorithm – which is not ideal for marketers and consumers. Understanding these numbers is a great first step to mastering this channel.  

Cisco’s annual report forecasts that by 2022, online videos will make up more than 82 percent of all consumer internet traffic — 15 times higher than it was in 2017. Video continues to be one of the most effective elements in a digital marketing strategy according to recent statistics. People find videos more engaging, more memorable, and more popular than any other type of content. Video as a means of storytelling and advertising is no longer a nice option but a necessity. Videos are a great way to increase conversion and exposure as YouTube continues to gain a significant share of all internet searches. 

Advertising in a variety of channels is a great way to encourage consumers to decide about a product or service before purchasing. Most marketers consider it to be a vital component to business growth. This year might be a tough year for advertisement and content marketing because so many businesses and marketers are entering the space. Businesses can still be successful and drive great results from content marketing campaigns by delivering more varied, high-quality content that creates more meaningful relationships between the brand and the consumer. 

Content consumption today is a lot different than just a few years ago. Consumers are interacting with companies and brands through a wider variety of channels, responding to content differently, and engaging on different platforms. People want to interact on a personal level with the brands they are looking to purchase from and grow loyal to. Consumer-centric marketing is more than just a buzzword; internet behaviors are changing, with influences from around the world shaping the expectations and preferences of people globally. Global marketers who want to stay ahead of the curve need to broaden their horizons and look everywhere for insight and inspiration.