How Media Works: Advertising and the Purchase Funnel For the Financial Services Category

1. How Media Works:Advertising and the Purchase FunnelFor the Financial Services Category A Yankelovich Study for the Television Bureau of Advertising

2. Study Objectives Determine the role that TV plays as part of a multi-platform environment for advertising. More specifically, the goals of the research were to understand: • The role of television advertising in driving consumer actions throughout the purchase decision process • How television interacts with other media platforms, including new media such as the Internet • How purchase decisions are made as a result of this interaction, including the role of different media platforms in the purchase cycle Source: TVB/Yankelovich “How Media Works,” April 2009

3. Methodology • Survey results were obtained via online interviews among 3,002 consumers who had seen a television ad in the past 2 months that made an impression on them. • Interviews took place January 29 to February 10, 2009; Super Bowl Sunday was excluded. • Respondents were first asked in which categories they have seen a television ad in the past two months that made an impression on them. • Each respondent then completed an ad survey for up to three of these categories. • The survey measured the overall impression of each ad, actions taken after seeing the ad, and whether ads for the same product or service were encountered in other media, etc. • The respondents were asked questions on which media most increased awareness and interest, or prompted action across the range of categories studied. Source: TVB/Yankelovich “How Media Works,” April 2009

4. Over One Third of Respondents are In the Market “Are you currently considering a purchase in the Financial Services Category?” (Asked of those who recalled seeing a TV ad for Financial Services* in the last 2 months) *Note: this category includes ads for tax preparation services (55%), banks/credit unions (16%), credit cards (16%), and investment companies (14%). Source: TVB/Yankelovich “How Media Works,” April 2009

5. Customer Profile: Financial Services Advertising Source: TVB/Yankelovich “How Media Works,” April 2009

6. One Third of All Consumers Have Seen a Financial Services Ad That Got Their Attention Saw an ad that got your attention: Source: TVB/Yankelovich “How Media Works,” April 2009

7. While Half of Consumers Who Saw TV Ads for Financial Services Made a Transaction in the Past Year, a Small Percent are Active at Any Given Time Last time made a financial services transaction: 49% of those who recently saw a financial services ad made a category transaction in the past year Source: TVB/Yankelovich “How Media Works,” April 2009

8. Most Say Financial Services TV Ads Made Positive Impressions Type of impression made by TV ad for financial services: 63% of those who saw these advertisements rated them positively Source: TVB/Yankelovich “How Media Works,” April 2009

9. Total Financial Services Half of Respondents Find Financial Services Ads Both Informative and Attention-Getting Ratings of Financial Services Television Ads: How much did it get your attention? How relevant was it? How informative was it? 42% total 38% financialservices 53% total 49% financialservices 54% total 50% financialservices Source: TVB/Yankelovich “How Media Works,” April 2009

10. Those Who View Ads are Likely to Consider and/or Research a Purchase, or Talk to Others About the Ad Source: TVB/Yankelovich “How Media Works,” April 2009

11. Younger Adults are Even More Likely to Take Action Source: TVB/Yankelovich “How Media Works,” April 2009

12. Nearly Two-Thirds Say Financial Services Television Ads are Seen 4+ Times Number of times saw financial services TV commercial in past 2 months: 64% of those who saw a financial services ad on TV have seen it 4+ times (compared to 53% for total) Source: TVB/Yankelovich “How Media Works,” April 2009

13. Multiple Exposure to TV Ads Leads to a Much Higher Likelihood of Action Actions taken after seeing a Financial Services TV ad Source: TVB/Yankelovich “How Media Works,” April 2009

14. Recall of Financial Services Ads in Other Media is High, Compared to 15-Category Norms Source: TVB/Yankelovich “How Media Works,” April 2009

15. Financial ServicesAdvertising Impact at Various Stages ofthe Consumer Purchase Funnel Awareness Interest Consider Want to Visit Make Purchase Purchase Store/Website Purchase Source: TVB/Yankelovich “How Media Works,” April 2009

16. Financial Services Media Impact at Various Stages of the Consumer Purchase Funnel Media cited by less than 3% of respondents were incorporated into the total for “other.” Source: TVB/Yankelovich “How Media Works,” April 2009

17. Conclusions • Over one-third of consumers recall Financial Services television ads, and 37% of those consumers are in the market. • TV Ads for this category are considered informative and attention-getting. • TV Ads lead to purchase consideration and conversation, as well as research on advertised products. • Younger adults, who may be new consumers of financial products, are much more responsive to advertising and are more likely to take action after viewing ads. Source: TVB/Yankelovich “How Media Works,” April 2009

18. Conclusions • Repetition works: consumers who are exposed to a Financial Services ad 4+ times are much more likely to act upon the message. • Advertising has its greatest impact at the top of the purchase funnel, raising awareness of Financial products and services. • Television advertising is the dominant ad medium at the crucial Awareness stage, and at every subsequent stage in the purchase funnel. Source: TVB/Yankelovich “How Media Works,” April 2009