Study shows third-party messages key for complex products and services

It's pretty simple. For complex goods and services, people want third parties (not corporate voices) to help guide and reinforce their purchase decision. Cultivating advocates in the professional and social media is critical.

A new study from Text 100 and Content Analytics shows that PR is probably more important than advertising when it comes to complex products and services:

Findings from the study reveal that that industries that sell high involvement products - where a buyer invests time and effort in deciding what to buy - have much higher correlations between media prominence and brand value than industries selling low involvement products, which are more likely to be bought on impulse.

At the other end of the spectrum, advertising expenditures are a leading indicator only for “low involvement” products, and accounted for very little brand value among “high involvement” products. Advertising accounts for nearly one quarter of brand value for low involvement products, while it accounts for less than one percent of brand value for high involvement products.

To me, you can exchange "PR" for "third party credibility" in this study. People making complex purchase decisions want to reduce the risk of that decision. Credible third-party opinions make people more comfortable with tough or confusing choices.

Advertising, which lacks credibility, does not reduce the perceived risk of a purchase. It introduces or reminds. That role is often important, but it is different from the communication that can help finalize a purchase decision.

Your customer might find that third party credibility on CNBC, Facebook or talking to their neighbor at the grocery store. All those channels need to be cultivated.