MEC has unveiled Momentum, its new proprietary approach to understanding and quantifying how consumers make purchase decisions.
It will drive a seismic shift in the agency’s strategic planning for brands, shared an official release.
According to the agency, Momentum is one of the largest global studies ever undertaken into the shopper journey and psychology of choice. It has examined the purchase decisions of over 100,000 consumers so far, across multiple categories and countries, through qualitative and quantitative research.
Momentum quantifies consumer bias by category and brand, the beliefs customers have and how they influence decisions, and the relative influence of communication messaging and touch-points, all in one study.
Melanie Varley, Global Chief Strategy Officer, MEC said, “Momentum measures the whole purchase journey in a new way. It gets under the skin of how people make decisions, unpicking the beliefs, whether preconceived or not, that they have about brands and how these influence behaviour, and the effect of brand communication throughout this journey. Our Momentum studies provide highly actionable outputs and are exceptionally cost effective.”
At its core, Momentum describes the purchase decision journey as a continuous cycle with four stages:
2. Active stage
4. Passive stage
One of the key findings unearthed by Momentum is the importance of the Passive stage of the consumer journey. This new understanding allows marketers to apply this principle to buying behaviour. Momentum reveals that people with a strong Passive stage bias consider fewer brands, spend less time in the Active stage, are less concerned with price when making their choice and are happier with their decision after purchase.
Momentum will score a brand’s momentum against the competition and identify ways to convert it from the Passive to the Active stage, uncovering new opportunities for brand growth.
“Our insight into the purchase journey means that we now must adopt a new approach to brand communication during the purchase journey. As the custodians of strategic comms planning, we see it as our responsibility to bring this new thinking to bear for our clients,” added Varley.