The assumption that broader reach equates to better marketing remains dominant in many boardrooms. But new research and practitioner insights presented at this year’s Cannes Lions Festival suggest this assumption may be both simplistic and economically flawed.
In a session led by WPP Media and featuring panellists from L’Oréal and the University of Oxford, the conversation focused instead on how humans actually make decisions and what that means for marketers tasked with influencing them.
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84% of Decisions Are Brand-Led
Felipe Thomaz, Associate Professor of Marketing at Oxford’s Saïd Business School, presented findings from a peer-reviewed study based on over 1.1 million consumer journeys. The headline figure: 84% of purchase decisions are determined by brand favourability before a consumer enters an active consideration phase. Only 16% are influenced by stimuli such as pricing, availability, or advertising impressions once the consumer is in-market.
The impl…
