iMedia Connection: When Impulse Disrupts the Purchase Funnel

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?”

http://blogs.imediaconnection.com/blog/2014/06/09/when-impulse-disrupts-the-purchase-funnel/?imcid=nl

Online Consumer Pulse: Pinterest is not only for window shopping, over 1 in 4 buy

This is the first in a series of Consumer Pulses on Social Image Sharing and Online Shopping by Bizrate Insights.

The rise of Pinterest has brought much attention to the growing community of social image sharers, folks who collect and share images from around the web through social image sharing sites.  Retailers are searching for how to leverage the new tool for customer acquisition and engagement.   Bizrate Insights recently launched a new series of studies investigating how online consumers are shopping through this emerging channel.

Social image sharing sites such as Pinterest are inspiring product consideration and purchases

Over 37% of online consumers have heard of at least one of the most popular social image sharing sites*.  Pinterest leads in both awareness and visitation, with 36% aware and 19% visiting.  Of those who have visited at least one of the most popular social image sharing sites, over 1 in 4 have made a purchase based off of images found on the site.  An additional 37% have found items they have wanted to purchase but did not at that time.

Visual Shopping*Social image sharing sites include: Pinterest, Juxtapost, Discoveredd, Fancy, Polyvore.

Next up in our series: Who visits and/or buys more, women or men?

Please email us to make sure you get on our report distribution list for our second installment.

For more information, please download the free PDF report here.

About the Survey

The Bizrate Insights Social Image Sharing and Online Shopping Series is a set of surveys conducted via the Bizrate Insights survey platform and offered to online buyers immediately after purchasing from the Bizrate Insights Network of over 5,000 ecommerce retailers in the US and Canada.  Data from this study was collected from 3,741 online buyers from March 22– March 26, 2012.

For over 12 years, Bizrate Insights has helped retailers listen to their customers in a way that is fast and measurable, resulting in insights, action, conversation, and customer loyalty.  The Bizrate Insights customer feedback and ratings platform allows retailers to collect seller ratings directly from verified customers.  Standard ratings are published across the leading comparison shopping site, Bizrate.com, and syndicated across the web’s largest search engines to help drive conversion and traffic.  Collecting over 16 million surveys annually, Bizrate Insights is one of the largest sources of consumer-generated review content in the world, delivering actionable insights and valuable shopper data to key decision makers in e-commerce.

Bizrate Insights Social Media Series Part 3: Leveraging Digital Word of Mouth

This is the third installment of the 3-part Bizrate Insights survey series on Social Media and Shopping.

ABSTRACT
Discovering your social “brand champions” (those who evangelize your product via social media outlets) and cultivating social programs targeted towards them will enhance word-of-mouth ROI for your brand.  Making it easy for them to share experiences, products, or purchases is just as or more important than broad-based “like” driven promotions.  Over half of online buyers who participate in social media comment or post about products, brands and retailers and over one in six have purchased something based on a friend’s post.

 

Online buyers are receptive to shopping information shared by friends and family via social media

Three in five of online buyers use social media sites and nearly half of those users have participated in shopping-related activities via social media.  Facebook is used most for these type of activities, followed by Google+.  The top shopping related activities online buyers participate in are:

  1. Reading comments/post/reviews about products, brands or retailers (67%)
  2. “Liking” or “following” products/brands/retailers (52%)
  3. Commenting on/posting about/reviewing products, brands, or retailers (52%)
  4. Looking for or sharing sales or coupons from brands or retailers (47%)
  5. Clicking on posted items to read more information or to purchase (36%)

Most online buyers are open to shopping information that is shared by friends and family on social media sites.  48% agree it is a “great way to discover new products, trends, or retailers” and 40% find it helpful in “discovering sales and promotions.”  17% have “bought something based on a friend’s post.”

Topics Shared on Social Media

Product info tops shopping related content that is WOM-worthy

Online buyers who use social media not only consume shopping content from friends but they also generate content based on their good experiences.  When sharing, 3 in 4 share or suggest products they like to friends and nearly 3 in 5 share or suggest products they’ve already purchased.

“Like” driven retailer-sponsored promotions can attract already existing brand champions but less likely to convert new ones

The survey also finds that 77% of online buyers who use social media are aware of retailer promotions such as offering special deals, coupons, or sweepstakes in exchange for “liking” them on Facebook or “following” them on twitter.  Of those, 42% are fine with the practice as they would have liked/followed the retailer anyway.  However, these type of promotions also attract fair-weather fans as 11% would “like” or “follow” to get the offer but then “unlike” or “unfollow” afterward.  These type of promotions can also detract as 29% do not like the practice at all.  This compares to just 8% who do not like shopping-related posts from friends.

For more information, please download the free PDF data report here.

About the Survey

The Bizrate Insights Social Shopping Surveys are designed to continually pulse consumer sentiment as it relates to social media and shopping.  Surveys are conducted via the Bizrate Insights survey platform and offered to online buyers immediately after purchasing from the Bizrate Insights Network of over 5,000 ecommerce retailers in the US and Canada.  Data from this study was collected from 10,357 online buyers from August 24– September 5, 2011.

Bizrate Insights provides free, independent surveys for online retailers. For over 10 years, Bizrate Insights has helped retailers listen to their customers and achieve their end goal of growing sales and consumer loyalty. The Bizrate Insights customer feedback and ratings platform provides retailers a fast and measurable way t1o track customer experiences, resulting in insights, action, conversion, and customer loyalty. Visit http://www.connexity.com to learn more about our free and paid buyer and abandonment survey and reporting products.

Bizrate Insights Social Media Series Part 2: Balancing the “like”

This is the second installment of the three-part Bizrate Insights survey series on Social Media and Shopping.

 

ABSTRACT
Finding the right balance between timely relevant posts vs. too many posts is a key challenge for marketers seeking a social relationship with buyers.  Social media usage is on the rise, as is the number of online buyers who “like” or “follow” retailers.  However, over 3 in 5 online buyers will “unfollow” or “hide” profiles they don’t deem necessary.

Social media is still mainly a place for friends and family

As we saw in the first series on Social Media and Shopping, social media usage among online buyers has grown significantly since 2009. 63% of online buyers are now actively using social media sites, mostly driven by Facebook, compared to 54% in 2009.  Within the same time period, “liking” or “following” retailers via social media, blogs, or forums has more than tripled since 2009, 19% in 2011 vs. 6% in 2009.1

The majority of online buyers use social networks in order to connect with family and friends.   Shopping-related activities, such as “learning about products, sales or shopping events” come in at third with just over 1 in 4 online buyers citing it as a reason to use social networks. Only 8% use social media to actually buy.

Reasons for Social Media Use

Become a relevant part of the conversation not a Chatty Cathy

62% of online buyers who use social media have “unfollowed”, “unliked”, or “turned off” people, groups, companies, or brands from being featured on their social network.  Too many posts and being irrelevant top the reasons for why brands could be on the cutting room floor when it comes to social media.

 Reasons for Unfollowing

For more information, please download the free PDF data report here.

About the Survey

The Bizrate Insights Social Shopping Surveys are designed to continually pulse consumer sentiment as it relates to social media and shopping.  Surveys are conducted via the Bizrate Insights survey platform and offered to online buyers immediately after purchasing from the Bizrate Insights Network of over 5,000 ecommerce retailers in the US and Canada.  Data from this study was collected from 9,680 online buyers from August 16 – September 22, 2011.

Bizrate Insights provides free, independent surveys for online retailers. For over 10 years, Bizrate Insights has helped retailers listen to their customers and achieve their end goal of growing sales and consumer loyalty. The Bizrate Insights customer feedback and ratings platform provides retailers a fast and measurable way to track customer experiences, resulting in insights, action, conversion, and customer loyalty. Visit http://www.connexity.com to learn more about our free and paid buyer and abandonment survey and reporting products.


1 Source: Bizrate Insights Social Shopping Survey 1st Installment