TVB: TV Rules as Top Influencer in Home Improvement Purchases
The COVID-19 pandemic has left consumers with plenty of time to spend at home. They’ve been busy making home improvement purchases and TV advertising is playing a big role in influencing what consumers are buying. A new study by the TVB reviewed how TV advertising influence compares to other media formats when it comes to purchasing home improvement supplies and materials.
The TVB hired GfK to survey over 1,500 U.S. adults regarding media influences on their home improvement related purchases through all phases of the funnel. Specifically, the survey included TV, radio, mail, out-of-home, print and several forms of digital media. The survey also asked consumers about the trust of specific media.
The Power of TV
Overall, 86% of consumers noted that media influenced their home improvement-related purchases in terms of awareness. If your clients aren’t promoting their goods and services, this statistic is a good example of why they should start. When consumers aren’t aware of what’s available, they’ll likely overlook what your clients are offering.
Similarly, 77% of consumers were prompted to take action — meaning they connected with or visit a home improvement service in person or online — as a result of an ad they saw. And 71% say advertising led them to make a purchase.
In this survey, TV shined as the top influencer in all steps of the purchase funnel:
- Awareness 42%
- Interest 41%
- Connect 41%
- Consider 40%
- Purchase 41%
No other media format scored higher in any category. The next highest scores were for social media, around 6%, and for broadcast TV websites and apps at about 5%.
During this time of social and economic upheaval, consumers are monitoring developments closely. They’re also paying attention to the media formats they trust most. According to the TVB study, consumers trust the news from these sources in the following percentages:
- Local broadcast news 82%
- Local newspapers 78%
- Cable TV news 72%
- Social media 53%
Home Improvement Purchases
Ad buying in the home improvement category will likely remain strong through the end of the year. BIA Advisory Services predicts that marketers will shell out $7.8 billion in this category during 2020. Consumers who discover and begin to work with a service provider or retailer in this category during the pandemic will likely continue the relationship going forward. Your clients can’t afford to miss this opportunity. Whether they are selling window cleaning services, painting supplies, or tools, consumers want to know what’s available. Consumers are also eager to fill their spare time with do-it-yourself projects so retailers who promote their online how-to videos and stores staffed by knowledgeable and helpful employees can earn more business.
It’s not too early to talk with your accounts about promoting home improvement products as holiday gifts. With the long winter ahead and the prospect of a vaccine for COVID-19 still on the distant horizon, marketers should be advertising supplies to keep homeowners busy in the coming months.
To learn more about the percentages of consumers who plan to make specific home improvement-related purchases in the coming year, check out the profiles available on AudienceSCAN, available from AdMall by SalesFuel. This data can help you open a conversation with a client who’s been reluctant to increase their ad budget.