Study: Consumers prefer interactive information channels for products and services

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Classic one-way communication in advertising and direct marketing is increasingly reaching its limits - consumers in Germany prefer interactive information channels. This is confirmed by a current study by the Leipzig Graduate School of Management (HHL) and the management consultancy McKinsey & Company. The representative survey of 1.500 consumers in the areas of mobile communications, branch banks and consumer electronics shows: Although every third consumer uses classic TV advertising, newspapers, magazines and catalogs for information about products and services - these channels are considered to be less important sources of information before making a purchase decision than five percent of buyers. For example, customers who are about to make a specific purchase decision in the field of entertainment electronics prefer to obtain information directly in the retail store (39 percent) and above all online: the websites of internet retailers and manufacturers as well as forums and web communities name more than 50 percent as the one for them most important information channel. Remarkable: The survey results are similar in all three sectors examined.

Classic marketing communication has reached its limits

"Whether in the traditional retail trade, the bank branch or on the Internet - the customers get more information and use more opportunities to exchange experiences with each other," says Christoph Erbenich, Partner at McKinsey. "Classic marketing communication alone is no longer enough to significantly influence the purchasing decision."

Social media for information search on the rise

The study also shows that independent online forums, product comparison sites and communities will continue to increase in importance. Consumers are increasingly using the social media platforms on the Internet to search for information. Whether it's the next purchase of consumer electronics, the conclusion of a mobile phone contract or an investment - around twenty percent of the customers surveyed primarily want to find out more through social media.

Trend impacts service providers, retailers and manufacturers

"The contours of sales, communication and information channels are becoming increasingly blurred; the customer is becoming more confident and decides for himself whose opinion he trusts," explains Prof. Dr. Manfred Kirchgeorg from HHL. According to Kirchgeorg, this trend poses a particular challenge for service providers, dealers and manufacturers, "because the opinions expressed in social media about certain products and brands and the resulting image and sales effects are outside the direct sphere of influence of the providers." In addition, attempts to exert indirect influence could result in significant negative image effects if, for example, product reviews were exposed as having been launched by the company.

Integrated marketing as a solution

"Companies have to take account of the customer's need for more and better online and offline interaction," says Christoph Erbenich. It is crucial to control the marketing and sales budgets in an integrated manner in relation to all customer contact points. "This is the only way to meet customers' increased demands for quality, consistency and authenticity - be it in a consultation with a call center agent, at a product demonstration in a department store or in the chat room of an online retailer," says Erbenich.

For more information: www.mckinsey.de

Source: Leibzig [ HHL ]