Winning Consumers Hearts (and Wallets)
As retailers throughout North America meticulously manicure showrooms and display windows, more and more consumers are cozying up by the fire to complete their gift-giving shopping online sans parking wars, long lines and well, let’s be honest…witnessing naughty list worthy temper tantrums.
According to a study by Ipsos Canadian Inter@ctive Reid online spending continues to rise with Canadians spending an average of $899 up from $639 a year ago. Men reign as top spenders, reporting averages of $1,080 and female spending ringing in at $725.
With poll results uncovering that 83% of consumers say they would pay more for a product or service from a company that puts them first, brands looking to win the virtual wallets of consumers would be well-served by ensuring their content and advertising puts the individual first.
Recognizing that consumer satisfaction goes beyond the glitz and glam of sparkly ads is the first step in refining the visitor experience. By drilling down and scrutinizing ecommerce tools brands can differentiate themselves as the online path-to-purchase continues to evolve.
Effective analytics and review can capture consumer behaviour and support course changes that eliminate barriers to purchase, increase user satisfaction and encourage purchase loyalty. We asked our Marketing Science Analysts to share a few consumer insights that can directly support optimizing a brand’s consumer experience and increase conversion rates. Amongst the many insights available they shared the following:
–transaction id assignment enables brands to segment and target specific consumers based on such qualifiers as: spending, category, top selling products etc.
– tracks what visitors are clicking liking and sharing to enabling brands to generate predictive purchase recommendations based personalized behaviour
– by monitoring online behaviour such as: response to colour or call to action word choice copy and image refinements can be made to foster optimal engagement
Brands offering personalized experiences and utilizing interest based advertising techniques are well ahead of the curve in building personalized brand relationships with the potential to increase consumer spend ten-fold while fostering positive brand awareness.
Free shipping doesn’t seem to hurt either.