Majority of Large Purchase Decisions Are Influenced by the Web

It used to be that if you were going to make a large purchase like a piece of heavy duty machinery or a car, the information that influenced your decision the most was obtained from face-to-face interactions with sellers or info you learned at trade shows. But all that has changed as the Web has become the central hub of information.

According to MarketingSherpa the information sources that have experienced the largest increase are virtual trade shows and events, search engines, and business info/news Web sites. These info sources play the most influential role on purchasing decisions of $25,000 or more.

In addition to the shift in information sources, there has also been a critical shift in the value of information that people put on third party testimonials and peer discussions within social media.

The MarketingSherpa report found:

“Social media sites such as blogs and social networks are emerging resources due in large part to the objectivity of their content. While third-party social sites are favored for their impartiality, vendor branded blogs and discussion groups on vendor branded social sites provide a mix of subjective company information with moderated commentary and peer discussions.”

A great way to gain insight about the information sources that are most influential to your target audience is to send out a brief survey asking them about who’s opinion or viewpoint they value most when making a decision as well as what online resources the use most often when researching a purchase.