Whether you own a strictly online company or a brick-and-mortar, understanding consumer behavior is critical to growing your business. But gaining this information has been a historically challenging undertaking. Enter the Consumer Barometer, the collective brainchild of IAB Europe, TNS Infratest and Google. This new tool helps all business owners and advertisers better understand the role of the Internet in the consumer journey from research to purchase.
The Consumer Barometer provides insight into customers’ past purchase behaviors as well as a perspective on how consumers interact with the Internet as a source of information for making informed purchase decisions. How do they get this information? Data is reconciled between the Consumer Barometer study and the Enumeration study. As a result, businesses and advertisers can customize graph data to discover how consumers use the Internet for research and purchase decisions in different industries, for various products, from different devices, etc.
How exactly does it work? Let’s say Mary owns a physical store that sells beauty products. Mary wants to know how many people research beauty products online before purchasing in an offline store. Based on the graph Mary customized to discover this information, she learns that a significant number of people research products before buying in a physical store. With this information, Mary decides launching a website that would help grow her business by providing detailed information about all of her beauty products in order to capitalize on this audience and encourage them to buy from her store.
This innovative new (and free) tool provides invaluable information that both online and offline organizations can take advantage of to grow their business and improve advertising efforts. For PPC managers, this information can help improve targeting, optimize web pages and more. Need help with your AdWords PPC campaigns? Contact PPC Professionals today for a free audit at (954) 606-5359.