Compete recently performed a study that revealed 50 percent of respondents use consumer-generated media to help make a decision for travel or buying a car.
The 50 percent relates to either making a choice of narrowing down their choice. Almost a quarter of people responding said that they used CGM to confirm a decision they were making, and another 15% said that CGM was the deciding factor in making their first choice.
Compete said that they estimate that about $2 billion dollars in spending on travel is connected to people interacting with CGM.
“CGM is money in the bank for marketers who know how to tap into the new currency around CGM,” said Cynthia Stephens, director of marketing at Compete, Inc. “Marketers will need to go beyond buzz-tracking tools to analyze and connect 
with in-market consumers in a new landscape. Companies that follow this course have nothing to fear about losing control of the marketing message.”
Of those auto and travel consumers that use CGM as a key ingredient in buying, 71 percent say that it's credible, in contrast to brands, where they consider only 35 percent credible.
» Know More Media: Reflections, Resolutions, and Predictions for the New Year from Know More Media
In the spirit of the impending new year a few authors weighed in with some incite for the future. BusinessBlogWire and BlogChalkTalk author, Easton Ellsworth wrote a funny post about events he predicts will take place and require the attention... [Read More]
Tracked on: December 22, 2006 4:43 PM | Permalink to Trackback