Contributed by: Joe Morsello.
Gian Fulgoni, co-founder of comScore, started his session by talking about how the purchasing funnel has dramatically changed. The traditional funnel was linear starting with awareness, then interest, then desire and ending with action. Today the purchasing funnel is more like a flight map in that there are so many different places for consumers to learn about products or brands that the path becomes more disjointed.
Gian said that even though the path to purchase has been disrupted by digital technology, there is still a prominent role for traditional media. A comScore study of advertisers showed that of 10 media choices, advertisers ranked newspapers as the second best tool for saving money, the fourth best for saving time and the fifth best for getting new ideas. On the other hand, search engines were the number one choice for saving time and getting new ideas, but number three for saving money.
According to Gian, TV is still king despite the fear that digital technologies would minimize TV’s audience. comScore’s research shows that hours spent on the internet is just one-third of the amount of time spent watching TV.
There was a ton of interesting insights that Gian shared about social and mobile media usage in the US. Here are just a few key points:
- $1 in every $10 of discretionary spending is spent on internet
- Mobile commerce up 24% in second quarter 2013
- 140 million smartphones which is 60% of all mobile phones
- Currently, tablets are the fastest growing mobile device
- 1.6 billion people on planet with smartphone
- Time spent on internet in Feb. 2013 grew 370% on smartphones and 15% on desktop compared to Feb. 2010
- Retail website usage in Feb. 2013 grew 104% compared to Feb. 2010
- Coupon website usage in Feb. 2013 grew 530% compared to Feb. 2010
- Time spent on map websites in Feb. 2013 grew 152% compared to Feb. 2012
- Hours spent on the internet is one-third of the amount of time spent watching TV
- Somewhere around 60% of internet access on mobile phone happens at home
- 71% of Pinterest users are women
- About 182 million people visit Facebook each month
- Two-thirds of time spent on Facebook is coming from a mobile device
- Exposure for brands is staggeringly better on Facebook’s newsfeed compared to fan pages