Yahoo! Canada Survey: How Much Do Canadians 'Like' Social Media?
Yahoo! Study Reveals How to Best Capture Consumers’ Attention and Influence Purchasing Decisions
Consumers expect brands to know the right time, right message, and right place to connect with them
TORONTO, June 14, 2011 – Yahoo! Canada today released an in-depth study detailing how consumers are influenced and make purchasing decisions in a world filled with social media and multiple online and offline communication channels. For brands, advertisers, and marketers, the results provide compelling insights and recommendations on how to effectively engage with consumers in a digital world.
Based on the findings, advertising’s greatest value stems from the authority of the channel on which it appears and the creative voice through which it speaks. For consumers, advertisements that strategically and creatively align with the respected and trusted channels are viewed as the most informative and authoritative. Consumers base their purchasing decisions on advertising and content found on trusted and well-respected sources, including official company websites. Consumers rank advice and recommendations from friends as the most trustworthy source, while social media pages and blogs are less influential forums.
“Today’s consumers have instant access to information and are more knowledgeable and empowered than ever before, making it impossible to tell a compelling story with a 2.5cm x 2.5cm thumbnail advertisement,” said Paula Presley, executive director of sales, Yahoo! Canada. “As the premier digital media company, only Yahoo! is able to deliver creative and innovative solutions that are grounded in science, art, and scale. Developing engaging and contextual campaigns across mobile, video, social, and local enables a brand to increase engagement and effectively reach its consumer.”
The Yahoo! Canada study reinforces that brands should forego the one-size-fits-all approach, rather looking to work hand in hand with partners on innovative and creative solutions that engage audiences to tell a story at scale and across multiple platforms – driving real results. The study highlights that the information and authority delivered through a brand’s website cannot be replaced with only social channels – 43% of respondents said advertising is most effective in making them aware of an unknown brand or product compared to 26% of people discovering a brand through its Facebook page or blog.
Key insights into Canadians’ information needs and habits include:
· In the last three months, two-thirds of Canadians sought out additional information after seeing an advertisement.
· The Internet is the primary source for information: 4 out of 5 consumers go online for more information about a product or brand. For more than half, the Internet is the first place they look.
· Advertising is the number one source for product discovery. For 43% of Canadians, advertising is how they first learn about a product or brand.
· 59% of Canadians visit and trust a brand’s website for information, compared to 14% who visit its Facebook page, and 5% who use its Twitter page for the same purpose.
· Among Canadian shoppers, 39% view TV and print advertising as informative, 32% view online display ads as supplying valuable information, and 24% of consumers view social network ads as informative.
For more information and the full study findings, visit: http://advertisingcentral.yahoo.com/canada/insights
About the Survey
Yahoo!’s Consumers Know Best Study used detailed qualitative and quantitative research to understand the behaviours and needs of Canadian consumers on the path to purchase. Online discussion boards and in-depth interviews generated some of the key themes, and these were validated and quantified with an online survey of 2,000 demographically nationally representative (by age, sex, income, first language and region) respondents between December 2010 and February 2011. This method simulates a probability sample that would yield a maximum margin of error of +/-2% 19 times out of 20.
About Yahoo! Canada
Yahoo! (NASDAQ:YHOO) is the premier digital media company, creating deeply personal digital experiences that keep more than half a billion people connected to what matters most to them, across devices and around the globe. And Yahoo!'s unique combination of Science + Art + Scale connects advertisers to the consumers who build their businesses. Yahoo! is headquartered in Sunnyvale, California. For more information, visit the pressroom (pressroom.yahoo.com) or the company's blog, Yodel Anecdotal (yodel.yahoo.com).
Yahoo! Canada provides services to Canadians in both English and in French through its sites, www.yahoo.ca and www.qc.yahoo.ca. In Canada, Yahoo! sites were visited by more than 16.4 million unique Canadians in April 2011 (comScore Media Metrix). Yahoo! Canada is headquartered in Toronto, Ontario.
Yahoo! is the trademark and/or registered trademark of Yahoo! Inc.
All other names are trademarks and/or registered trademarks of their respective owner.
For interviews and more information, please contact:
Yahoo! Inc.
Cory Pforzheimer
Environics Communications, Inc.
Briana D’Archi
Environics Communications, Inc.
Gema Rayo