Connexity’s Vice President of Insights, Hayley Silver, challenges traditional thinking about ‘the funnel’ and identifies ways retailers can convert more impulse buyers. Click here to visit the article page and read the whole post, or read highlights below.
“Of course a lot of consumers go online with a clear mission to buy, but 39% of online buyers report that they sometimes shop online for entertainment, such as killing time waiting in line for coffee. For 41%, impulses take the form of a change-of-mind to buy or not buy after perusing social media. For others, it is a part of everyday multi-tasking or just making every minute count.”
“A key driver behind this is that consumers are augmenting their traditional desktop/laptop time online with their untethered, mobile devices at all times of the day (and night) and at nearly any location. The trick for retail marketers is to be where their customers are, at all times.”
“…It is time to go beyond managing your brand within social media to more active marketing. Consider paid advertising within the social media flow of Facebook or Twitter. Additionally, doubling-down on customer support and engaging in conversations with your customers within social media is a must.”
Retargeting to close the loop. “What drives click-throughs by these customers is the convenience of a direct link back to the item, as well as their affinity for the product shown in the ad.”
“Once you have reliable signals of intent, you can often incent consumers to purchase immediately, even if haven’t moved through the classic phases of the purchase funnel. Key questions for retail marketers to ask are: is the data from a quality source; is it 1st party or derived from 3rd party; and does it relate to actual shopping behavior?”