In an insight that will appeal to marketers, Meta has released a report that indicates the key factors driving consumer decisions on its platforms.
Ultimately, the report comes down to its most influential factors being video, social commerce and recommendations.
In the 14-page white paper, which you can access here, Meta said: “Video has the highest engagement rate of all content types. Whilst TV is considered the most influential video touchpoint, Facebook is one of the most efficient video channels due to accelerated digitization and increased mobile video consumption.”
While TV is the most influential ad tool, even in today’s digital world, Meta notes that efficiency is key when it comes to media buying, saying: “While studies have shown that TV is one of the most influential touchpoints in driving purchase decision, marketers should also be mindful of the cost associated with it. Separately, Kantar research has shown that despite TV continuing to be the most invested video channel, when we look at reach per investment versus other digital platforms such as Facebook and YouTube, its cost is 2x higher.”
So, marketers are getting more bang for their buck with video online content that is more affordable and able to target in on audiences. But the impact of recommendations cannot be overstated.
“Nielsen reports that 92% of consumers believe recommendations from friends and family more than advertising, and 74% of consumers identify word of mouth as a key influencer in their purchasing decisions. Tactics such as influencer marketing on digital touchpoints is one of the most popular ways in generating word of mouth where marketers would leverage influencers to create ‘buzz’ – they are the ones spreading the word about a specific product/service.”
