This holiday season, the nation’s favourite pastime, going shopping, will be more difficult for customers to practice. And changes to customer behavior mean modifications to your’product discovery’ strategies to safeguard your sales growth is not in danger. Discovery shopping is an important driver of growth for retailers and brands. In actuality, as one of our June 2020 surveys uncovered, 24% of active US customers have bought from new brands and retailers because the COVID-19 outbreak they had not shopped with before.
How can you stick out in an extremely competitive space?
Throughout the 2019 gifting season, 86 percent of in-store purchases were researched online. Furthermore, according to a customer survey we conducted in August of 2020, 42 percent of shoppers responded they researched products online more today before purchasing in-store than they did because the international health crisis started.
With 52 percent of US shoppers planning to shop online more often than before the pandemic, and 49% planning to do more of their holiday shopping and gift buying online in 2020, more brands are focusing on gaining the interest of consumers online.
This means more competition for you and less visibility to your products.
The electronic landscape was extremely challenging to browse in’normal’ conditions. However, with more businesses fighting for the interest of the consumers, it is no wonder that raising ad spend is among the top strategies for increasing vacation peak sales this year. These stats were found during a survey conducted by ChannelAdvisor in the United Kingdom in November, in collaboration with Retail Gazette:
If you would like to drive better discovery to your merchandise, you’ve got to be ready to spend more attention — and money — to those plans in the months and years ahead.
1. Rethink the way you leverage specific stations
With the pressure to deliver results, many actions and internet strategies end up almost entirely focused on the utilitarian aspect of advertising, leaving little room for investment in forcing discovery. With the ideal targeting, optimization and effort segmentation, some stations which have traditionally fit a specific mold (detection or functionality ), can function as full-funnel channels.
If there’s a channel that requires rethinking, it is social media advertising. Consumers are spending more time on social media (36 percent of customers are spending more based on our latest consumer study in August 2020) and finding new products.
But they’re also proactive. In April 2020, we conducted a consumer survey that signaled 30 percent of respondents researched products on Facebook and 28 percent on Instagram. And as of August 2020, those numbers had increased to 34% and 30%, respectively.
You can leverage paid advertisements on social media to induce discovery for your products once your target audiences are researching your goods or not. Segmenting your audiences, campaigns and targeting to cover the complete funnel will let you adjust investment accordingly in addition to give merchandise discovery a push whenever is required.
1 other channel which has historically been perceived as fully-focused on one part of the funnel is paid search advertisements. This is still another example of a station which may be leveraged for the complete funnel when you’ve got the ideal setup, targeting and optimization strategy.
2. Create experiences
Creating in-store experiences has been in the forefront as an choice to revive the physical sector. But online experiences are just as important — if not more — given the present situation.
Focusing on enhancing online experiences to finetune conversion rates is vitally important, albeit somewhat basic. If you market online, you are likely to have a responsive and quick website in addition to a streamlined checkout procedure.
But what can you do to guarantee the customer stays engaged with your shop and comes back?
- Give the possibility of trying on your own products virtually.
- Supply as many high quality photographs and videos of your merchandise as possible from all angles. Think of what your customer would be interested in seeing and arrange your photoshoots accordingly.
- Provide useful content such as guides, lifestyle photographs or neighborhood styling suggestions.
- Be accessible in case your client needs support with virtual assistants.
- Provide multiple delivery options (standard, expedited, click and gather, etc.) as well as free delivery choices.
- And finally, make sure there are no discrepancies between the internet and in-store experience since the vast majority of customers today plan to research online more before visiting the store.
Failing to invest in your shoppers’ buying experience will cost you, both in the short term and the long term.
3. Improve Your content
According to Forrester Research, 74 percent of buyers get frustrated with sites which present content that’s not pertinent to their interests. If you’re then using this content to populate your product listings for shopping and social advertisements, you might actually wind up paying more for advertisements rather than showing your ads in front of important audiences.
Writing great content to your goods, having improved product feeds and investing in generating content for inbound marketing won’t only enable the consumer to make a choice however, it will also help you rank better, both organically and compensated.
Each viewer might value a different type of content. Based upon your target market and product choice, invest time in prioritizing the data points that matter most to your prospective and present customers. By way of instance, younger shoppers often prioritize visual and video content, whereas older shoppers appreciate detailed product descriptions.