More Information = Longer Buying Cycle
Internet Marketing Tips & Tactics From Thousand Oaks’ Leading Internet Marketing Company
The Decline of One-Stop Shopping
According to a study conducted by Google, 47% of revenue generated in the US comes from purchases made in more than one day. The same research concluded that 65% of total revenue comes from purchases made in more than one step. Expedia recently revealed that consumers will conduct as many as 38 visits to travel sites before booking their trips. Notice the trend?
So what does this data mean? For starters, it indicates that consumers are making fewer impulse purchase decisions, especially online. With the amount of information available in the digital world, research is a huge part of most consumers’ purchase process. If your digital marketing strategy is built on the foundation of a sales funnel that doesn’t involve multiple digital interactions, you’re doing it wrong (we mean this in the nicest way possible).
Think about the last time you purchased a new product or service. Let’s even make it as simple as buying a new next-gen gaming system. Even if you’re a lifelong PlayStation or Xbox fan, you will still research the systems before making the ultimate decision: Xbox One or PS4? The gaming industry doesn’t think consumers are taking the decision lightly either: check out all the content on Xbox One vs. PS4. These are well-known brands and products, and consumers are still seeking third-party information and reviews before making a purchase. Imagine what shoppers are thinking when they need to buy a totally foreign product or service.
Get a second chance to win back your customers
Whatever industry you’re in, you should be thinking about ways to have multiple engagements with your customers (instead of aiming for a single conversion). Remarketing is the perfect way to bolster your chance at winning back your customers once they leave your site.
Let’s say a consumer arrives on your homepage and cruises around your site for five minutes. They read some of your content, check out your products, and then head back to Google. If you’ve invested in any kind of remarketing, you can now follow this customer and present them with banners that keep them aware of your brand. It might seem like a subtle touch, but when push comes to shove, it can absolutely make the difference between this consumer buying from you over your competitor.
If three companies have similar sites that accurately highlight their products with quality content, how will the consumer choose which one to buy from? It could be customer service, word-of-mouth, or customer reviews. But it could also be a remarketing banner that eventually leads the consumer back to your site for a second or third time.