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October 15, 2008

Online product research & the impact on offline sales

Came across this extraordinarily insightful statement today....

The impact of online product research is greater on store sales than Web sales. 

In 2008, Web-influenced store sales will reach $625.2 billion, eMarketer forecasts. From 2007 to 2012, online-influenced store sales should grow at a 19% average annual rate. The research firm says that by 2012, each $1 of online sales will equal about $4.68 in store sales influenced by the Internet.

I've worked in online ad sales for years and spent a lot of time and energy tracking impressions, clicks, leads, conversions, and online sales and trying to understand, link and quantify their true impact.  Measuring the true, direct impact of online campaigns has always posed its challenges, but knowing that the market for online-influenced sales is greater than $600 billion...wow, this takes those conversations to a whole new level.   

Viewpoints.com is full of nothing but online product research in the form of consumer reviews.   Looks like I have even more work ahead of me now.

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