The power of ADVERTISING All too often advertising agencies and their clients alike make assumptions about the impact of advertising on consumer behaviour – often without justification. Research undertaken at the University of Minnesota looked at the impact of advertising on awareness and persuasion in the engagement of banking services. This big data research found […]

The power of ADVERTISING All too often advertising agencies and their clients alike make assumptions about the impact of advertising on consumer behaviour – often without justification. Research undertaken at the University of Minnesota looked at the impact of advertising on awareness and persuasion in the engagement of banking services. This big data research found that: The average American is aware of 7 banks and with at any time only consider using 2- 3 banks Advertising has a significant effect on AWARENESS Advertising has a negligible effect of PERSUASION In other words the awareness of banks (the 7) was influenced by advertising while the choice of bank or banks considered (the 2-3) was not affected by advertising The research also found that with banking: Awareness is a passive process requiring no effort Consideration is an active process requiring a lot of effort Purchase is an active process involving little effort…