Communication breakdown: British businesses stuck in advertising time warp
Posted by Rachel Fielding in Marketing on Mon, 14/11/2011 - 01:23
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A customer experience consultancy has accused British business of being locked in an advertising time warp as it urges them to find more effective ways to communicate with consumers.
Research conducted by Onva has found that despite an annual spend of £14 billion on advertising, only 10% of consumers buy a product on the back of an advertising campaign.
It warns that marketers are missing out on the ‘Recommendation Generation’ and are wasting billions on out of date techniques. A whopping 70% of consumers are more likely to buy a product or service on the back of a personal recommendation or online review. Only one in ten people are likely buy a product on the back of an advertising campaign.
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