Instagram announced that all users in the US can now insert product tags as part of their organic posts. Here’s what this means for Brands.
Brands and marketers are all looking to profit off TikTok and the current trending hashtag: #TikTokMadeMeBuyIt.
While TikTok doesn’t boast the large consumer base that Facebook and Instagram possess, it is a very strong driver of purchase intent. The platform’s strength lies within its algorithm that serves users a very personalized “For You” feed and therefore, people who shop on TikTok browse and buy goods more frequently than shoppers on other social platforms, due to that customized experience.
Many TikTok-inspired purchases actually take place off-platform, including eCommerce sites or even other social platforms. This is because TikTok allows businesses to direct people to other pages/sites using the links within their profiles.
TikTok’s younger demographic contributes to the high levels of off-platform buying as they are more likely to keep up with current trends but may have less purchasing power than the older generations.
According to eMarketer, people who shop on TikTok browse and buy goods more frequently than shoppers on other social platforms. More than one-fifth of TikTok shoppers worldwide said they bought goods on TikTok “all of the time,” ahead of all other platforms measured.
TikTok’s share of the total US social commerce market is expected to remain relatively small. US consumers will spend $45.74 billion on social commerce purchases this year, including purchases made via in-app checkout and those made by clicking through to a retailer’s site. Facebook and Instagram continue to account for the majority of those purchases, and the majority of social buyers.
However, eMarketer’s forecast does not account for the in-store or other off-platform buying that is common with #TikTokMadeMeBuyIt purchases.
The platform is constantly releasing new features to drive in-app purchases including mini storefronts, product links, and the ability to integrate product catalogs to assist in more social commerce spending. We’ve talked about how to make social commerce work for you previously and if you need assistance including TikTok into your social commerce strategy, contact us today. We’re here to help.
Holiday season and social climate:
The last few years have been atypical to say the least and eCommerce/shopping was greatly affected by the social climate. During the pandemic-driven hibernation in 2020, eCommerce was thriving because there was less opportunity for travel and subsequently more funds for purchases; particularly in demand for at-home use (candles, athleisure, office supplies) and digital education/fitness apps.
Starting in 2020, COVID was the catalyst for the change in consumer behavior. We began to see some relaxed restrictions with a slow return to offices, and more customer demand for Airbnb/staycation/travel experiences as well as general in-person activities with family/friends. Still, the landscape was not quite identical to pre-pandemic behaviors, and in tandem with this shift, modeled META data, the looming threat of cookie deprecation, shipping/demand issues and rising CPMS, there are additional layers of changes bringing a new transformative time in the industry.
With all these social changes, platform nuances and industry transformations, how do we use the data we have to better inform our holiday strategy and prepare for 2022?
To look ahead to this year, we need to evaluate 2021. The prior holiday season had the “strongest retail growth in more than 20 years” due to increasing customer spending. The expectation is for this metric to grow to 1.262 trillion in 2022, with 15.5% coming from e-commerce, while brick-and-mortar is expecting 1.026 trillion.
The 2021 Review
- Fewer users shopped Cyber Monday/Black Friday overall and most shopped earlier to avoid inventory/supply chain issues and subsequent shipping delays.
- Spending increased, particularly at brick-and-mortar retail stores, as there was a large appetite for in-person shopping/consumers were in a better place financially than the prior year. This included in-store shopping for apparel for in-person events/office usage.
Key stats (eMarketer 2022 Preview Report)
- Retail spends grew 16% YoY to 1.221 trillion.
- Mobile e-commerce accounted for 45.9% of sales, and 61% of digital visits and is projected to be almost 50% in 2022.
- Brick & mortal sales increased 17.3% to 1.017 trillion.
- Cyber Monday had the highest spending day online.
- Black Friday inched up to .3% while Thanksgiving grew 2.3%.
What should you do with this data?
- Ensure your holiday planning/creative is approved assets to be ready for an earlier time in market and to be seen among the clutter as many brands will be present earlier.
- Invest in video assets because these have higher costs, but they see great LTV/revenue and work well with static.
- 2022 will have a longer holiday cycle, with less spend during the typical post-Thanksgiving period. So, you’ll want to ensure you have a strong evergreen presence. You should release seasonal/holiday messaging earlier to align with consumer demand. No longer do you need to save funds for the holiday spending all in late Q4.
- Consider starting early and implementing flat spending if it aligns with your business. Last year there were Black Friday promotions as early as October, and in general, holiday discounting was only 9% in 2021, vs. 14% in 2020, so monitor competitors/trends to see if this continues into 2022.
- Because brick-and-mortar sales increased, you should consider setting up store locator ads and ways to track your in-store or online ads. “Click to collect” drove 1 in 4 online transactions, so, if possible, you will want to set this up, and run CTV ad campaign tests.
- Cyber Monday should still be priority and if you have an offer; be sure to showcase/be present as this is still an instrumental day.
- As there are significant mobile visits and share of revenue, you will need to ensure your ads and user experience is mobile friendly. Invest in app/shops, in preparation for this influx.
- To drive purchases and rise above the clutter, ensure each receives a specific user journey and relevant messaging for where they are in funnel (new user vs. returning) and start soft vs. heavy copy to drive user to convert.
- Invest in your CRM data and learn from it as well as promote to repeat customers from these list with special offers to drive loyalty and continued purchases. Consider establishing a program/reward for these users.
- Test influencer marketing, that way your product is top of mind and when they are ready to purchase, you aren’t as affected by audience modeling.
- Ensure you utilize the shop features and continuing to monitor new features (i.e.: FB/IG shop, and enabling checkout within platforms, dynamic ads for hyper targeting ads to users that have seen specific products etc.) of the platforms and ensure you have an integration with a tool like Shopify, so you’re accurately tracking performance.
- Consider using a listening tool, to continue to meet consumer expectations and change messaging/strategy based on feedback, with a tool like Sprout Social.
With eCommerce growth back to mid-teens, rising 15.5% to 235.86 billion, the channel is back to pre-pandemic levels. However, we still anticipate earlier holiday shopping to stick as demand will occur earlier in the holiday season, and these habits were established for several years now. Profitero’s Black hypothesized:
“October will be the permanent new kick-off for the holidays, because it feels normal now after two years and it gives retailers three months to make their number versus two. ”
That’s not to say you shouldn’t be in market during the big three (Cyber Monday, Black Friday, and Thanksgiving) but the strategy should start earlier while we monitor trends/industry changes.
Of course, it’s early and there are several factors to look out for, as we move toward the early holiday season, that will impact projections/spend.
- Inflation/Labor Market Changes and General Economy health (i.e.: if gas prices go up, users will have less discretionary income).
- If stores close, during Black Friday for social climate changes, this will impact spending.
- If Prime Day (Apple) or large brands (Amazon, Walmart etc.) change their holiday calendar, it is likely to have a trickledown effect.
- COVID/Social Landscape.
There is no one-stop solution. So, it’s important to speak with experts like us so you consider historical performance, creative and the audience targeting that out-performed. With previous insights/data and the above, you are set up for another successful holiday season.
POV by: Gellena Lukats, Director, Paid Social
This year, change has been a constant in the social media world. In addition to media measurement changes, increasing privacy concerns, pandemic shopping fluctuations, platforms are leaning into their product capabilities. These changes, spurred by iOS 14.5 – such as decreased audience sizes, reduced targeting capabilities, and increased platform costs – have ushered in 2022 as a major transition period for social.
While there have been stock fluctuations, new modeled data, and much adversity for social platforms (especially Meta), there have also been improvements in the eCommerce world. And, social’s role is now recognized as not just a view-through channel, but as an important part of the user journey that is instrumental to product success.
Covid-19 expedited the online shopping experience and created digital touchpoints that bridge the gap between online and in-store shopping. Thirty-three percent of sales are made through e-commerce this year, whereas this metric was twenty-three percent pre-pandemic.
Social media is a channel that showcases customer experience, feedback & engagement. The unsolicited communication of messages on social platforms and at-mentions (i.e.: Twitter) are great ways to get learnings/insights from customers and because it is self-reported, it increases the authenticity of the data. By keeping open communication/transparency, social provides an avenue to obtain direct product feedback for improvements to eCommerce features. Consumers will create their own path to purchase, and social provides guidelines regardless of where they are in the process (discovery, or ready to buy immediately.) Therefore, it’s important to create experiences that lead to brand recall; experiences like sharing recipes/coupons for a restaurant brand to drive users to dine (WARC guide)
Social Listening tools like Sprout Social or Hootsuite can help you search for keywords, monitor trends, and develop content capable of impacting messaging and ultimately guiding product success; an example of this has been the impact of users’ feedback on corporate sustainability and ultimately consumer responsibility. 4.62 billion of the world’s population is on social and the incremental reach/impact with this platform is unparalleled. One out of every two consumers look for deals specifically on social, making this a great channel to tout promotions and special products and offers.
With data depreciation, first-party data, lookalike modeling & customer personalization are the keys for customer success in a cluttered landscape. You need to define your key audience, use contextual marketing insights, and use the top performing segments for retention, re-engagement and brand loyalty. Be sure to store this data in a compliant way and check you are targeting the correct user on the right platform.
Online channels are now the primary driver for social eCommerce, with over 60% of customers saying they find browsing online easier than being in store. The ease of use of social media lends itself as a great discovery channel. “Online window shopping is also higher,” with sixty-one percent browsing online and only thirty-four percent in store. Correlate store locator data with Snapchat/Meta, but make sure the online experience continues to be king.
While there is no one-shop answer and users will still probably want to buy a significant number of mattresses/televisions in-store, brands can create digital touchpoints that lend to effective shopper journeys, as well as incorporate assets that are engaging, snackable, and drive performance.
Social is growing
In 2020, the average person spent three hours a day on social, vs. 90 minutes in 2012.
Messaging has grown forty percent since 2020, and mobile is key at over 4 hours of activity on average per day.
There is unparalleled time spent on these apps, and you want to make sure your products are being shown and you are fully monetizing on this growth of online activity and subsequent shopping behaviors. Social is not just a place for discovery/awareness: fifty-one percent of users said content they find on social media sites does lead to them to buy a product, adding social to the mid-funnel success, consideration phase.
More than 80 million people made purchases via social in 2020, and the projection is set to be 101.1 million by 2023.
Even industries like travel, which have faced major struggles from the pandemic, have increased their usage of eCommerce investments and tools. This is partly due to demand, but also consumer willingness to employ new tactics like virtual shopping and live streaming, the latter of which has attracted the likes of retail brands like Burberry and Louis Vuitton.
There is less and less separation between in-store and online experiences; the two need to continue to merge and syndicate. In fact, specifically for higher priced, luxury brands like Burberry, customers are coming back eight times to research products, so you want to make sure there is a personalized, robust customer experience, that takes individuals through the funnel while listening to customer needs/expectations.
Platform Capabilities are Growing
Facebook and Instagram (Meta) developed Shops in 2020, bringing stores where users can make purchases to the platform. IG Shop Tags and posts were also developed, so users can have seamless clickable access to products based on the ads they see. There is already a beta with live shopping/influencers on the platform; with the rise of these features in Meta, we anticipate more AI/shopping capabilities as well as integrations with feeds/user behaviors through platforms like Shopify that are not as affected by cookie-based marketing. FB/IG Shops make purchasing an item seamless and the tie-in with influencer marketing is specifically large with Instagram. Even though Facebook has seen some dips in revenue/users, its shop capabilities are growing, and we do anticipate some virtual reality shopping features in the future.
A large part of influencer marketing success is through Meta, and this is set to grow to $15 billion this year. As platforms realize these results, they are expanding these features at an exponential rate. With social’s access to first and third-party data, as well as these new features at play, social helps guide the user purchase.
Pinterest integrates the same shopping feed as “Meta,” allowing you to retarget/remarket those that have added a product in the cart, viewed products or actively searched for relevant keywords. You can customize your collections within product groups, ensuring personalization in tandem with dynamic retargeting, and use a Shopify integration to import seamlessly, while implanting conversion API.
Twitter, like Meta, has dabbled in Live Shopping, and has tested e-commerce for organic tweets that drive tweets to a shop button with product, shop name price, and product details. This is also a great area for customers to @ your brand and share e-commerce feedback/information.
TikTok is impacted largely by the influencer market, as well as YouTube. Now, just like with Pinterest, there is a Shopify Integration, so users don’t have to exit the app to explore products. In addition to live stream integrations, TikTok shopping has been piloted, allowing for shopping tabs on the profile, like with Meta.
LinkedIn is a great platform for niche audiences, especially in verticals like education. The first-party data and self-identification for member groups helps reach a professional audience, which can be used for e-commerce. For instance, if you are selling software to teachers, you can schedule appointments with “lead generation” or “start conversations” forms. This is a great place to nurture those relationships.
As you can see, most of the platforms use similar features. For a good e-commerce strategy, it is important to have strong creative assets, with a particular preference for video/short form; measure audience impact on each channel; and focus on multi-media measurement through another partner. If you can see where social lands in the user journey, and for what purpose, the impact from social on e-commerce is unparalleled.
Influencer Marketing is Key
With privacy as a key focus, it is more important than ever to show engaging, authentic, and personalized content, especially for the awareness and consideration phases of the funnel.
While users are likely to ad block/opt-out of traditional ads, this is not the case for influencer content, making this impactful during cookie deprecation.
Additionally, there is more clout when it comes to influencers. Forty-nine percent of Consumers depend on Influencer recommendations, and forty percent have purchased after seeing influencer content. In fact, ninety-two percent of consumers trust influencers more than traditional ads/celebrity endorsements, showcasing the effectiveness of the strategy. With a wide range of micro vs. macro influencers, there is certainly an engaged market by content type available for the taking.
This form of paid media continues to grow, and we anticipate this becoming an important phase of the e-commerce journey for social, especially considering growth trajectory. Influencer marketing has expanded exponentially over the past two years. Worth just $1.7 billion in 2016, the industry is set to reach $13.8 billion this year.
With the willingness of platforms to invest in influencer capabilities, and some even investing in influencers themselves (TikTok Creator’s Fund), it’s more important than ever to properly vet influencers through brands like Influential that are equipped with special consumer insight tools.
Specifically, Influential uses IBM Technology that helps you learn the brand presence, interests and potential reach of consumers who are engaging with niche communities and interests (i.e.: beauty brands would work with beauty influencers vs. targeting a beauty interest in platform). This audience is key to success. It’s important for brands to find effective content and markets based on properly vetting content creators and using their community to drive brand interest and endorsements your users can trust.
Align your Team
Each brand and stakeholder must work with internal and external parties to ensure it is clear on KPIs and how to gauge success; and to ensure it keeps the consumer in mind while being privacy compliant. Make sure you are clear with your goals, and drive purchase intent on each platform.
Customers are looking to brands for experiences, but each brand needs to do its own deep dive of success. Ensure you use best performing assets at different touchpoints (prospecting vs. remarketing) and across channels.
“A strategy for different verticals will require a bird’s eye view and remember to build the brand for long time retention,” Head of eCommerce at WaveMaker, Mudit Jaju, said. “Building strong bias before a consumer begins an online shopping journey improves a brand’s odds of being considered before purchase by fourteen percent,” he also stated.
Ensure you are personalizing your messaging, but continue to test, monitor, and optimize as this is a fast-paced, changing landscape. You want to make sure you stay relevant and noticed among the clutter.
If you’d like a consultation on how to make the social commerce landscape work for you, please contact us. We are here to help.
POV By Gellena Lukats, Acronym’s Director, Paid Social
eMarketer released a new report on Gen Z’s preferred social media platforms. The monthly usage breakdown is:
- Snapchat (42.0 million)
- TikTok (37.3 million)
- Instagram (33.3 million)
eMarketer predicts these will remain the most popular among Gen Z over the next four years. However, they say TikTok will pass Instagram to claim the number one spot by the end of this year.
They also state that Facebook, Pinterest, Twitter and Reddit have relatively large followings among Gen Z and predict that the reach on those platforms will grow as the generation ages out of more teen-focused sites and apps.
Meanwhile, according to Pew Research, Gen Z’s use of devices continues to increase. According to their report,
Recent data revealed that 98% of them own a smartphone and that in the third quarter of last year, they averaged more than 4 hours a day on apps — and that figure doesn’t include gaming time.
So, how are these Gen Z’ers using these platforms?
Social commerce, especially, continues to dominate Gen Z behaviors as algorithms learn their preferences and suggest relevant products, while delivering a personalized shopping experience. In fact, the majority (97%) of Gen Z consumers say they now use social media as their top source of shopping inspiration; 65% say they use social media to find entertaining content; and 61% of them are specifically interested in watching more video content.
Proof of the popularity of social commerce can be found in the fact that the hashtag #tiktokmademebuyit has of 2.3 billion views on TikTok, and #amazonfinds has more than 6.7 billion views.
Pew also reported increases in the popularity of G-Commerce, something Acronym’s experts discussed earlier this year, as a way to keep Gen Z interacting with your brand through gamification and rewards that drive purchase.
To capitalize on these growing trends, we recommend brands deliver a seamless experience from discovery to checkout to move buyers through the funnel quickly, easily and securely.
If you need assistance leveraging social commerce or G-Commerce to better connect with Gen Z audiences, please contact us. We’d be happy to help.
As social commerce continues to grow, Pinterest is entering the game by launching a shoppable live series, Pinterest TV, which debuts November 8th. Each episode will star a content creator from the platform and it will air Monday through Friday at 6PM ET on iOS and Android. Shows will cover fashion, beauty, home, food, and more.
The first few episodes feature c Olympic athlete Tom Daley and popular makeup artist Manny MUA and viewers can purchase exclusive products from different brands, such as Patagonia, Crown Affair, Allbirds, Outdoor Voices, Mented, and Melody Ehsani, using special discounts.
Additional Pinterest-exclusive shows are in-production, including Christian On, where fashion designer Christian Siriano will replicate the most popular fashion-related searches on Pinterest. And, food creator, Monica Suriyage is set to host Unfail My, a show designed to help viewers correct cooking mishaps.
Every episode will be available via the Pinterest app and viewers can ask questions in the chat and interact with hosts.
To assist content creators, producers from Pinterest will be on hand to provide technical support and collaborations with creators to make engaging content. Creators can show off and tag products during their shows, as well as offer exclusive discounts — viewers can then select, view, and purchase the product from the retailer’s site.
Acronym’s Director, Paid Social Media, Gellena Lukats weighed in on this news:
“With Pinterest expanding their e-commerce features and adding a shoppable live series, we look forward to helping brands use this to showcase products this holiday season and beyond. More and more brands are focusing on video content through engaged ad formats and we’re excited that there are now live streams available to advertisers on Pinterest. We have been conducting live streams on Facebook and LinkedIn, and do see more engaged consumers, so we anticipate similar results on Pinterest.”
Pinterest first entered into creator monetization in July of this year by introducing shoppable pins that let creators tag and sell products to earn a cut of the profit. As social media platforms seek more ways to attract influencers and help them make money, live shopping has become a major trend.
If you’d like assistance leveraging Pinterest TV to drive more customer connections and boost your sales, please contact us. We’d be happy to help!
Happy Social Media Day! Paid and organic social media are more often than not put into silos, so, we wanted to celebrate the true synergy of paid and organic by sharing our views on how they work together.
eMarketer found that 29.6% of US consumers completed a purchase via social media, showcasing that this audience is engaged and these platforms influence consumer purchase/lower funnel decisions.
Advantages of Organic Social Media Engagement
An organic user proactively looks for content, engages with your feed, and provides valuable feedback. They are a qualified, loyal audience that every company should pay attention to. Your organic audience will amplify your message by sharing your content with their friends and networks without requiring any advertising dollars, so it is vital to make your content engaging and sharable. A vigilant brand will use platforms like Sprout Social to help monitor brand engagement and sentiment on Facebook, Instagram, Twitter, etc., through social listening. By listening to your audiences and responding to feedback and messages, you become a key player in their decision-making process. You can get ahead of some of your consumer needs and expectations.
Additionally, organic social media platforms provide an excellent opportunity to share brand messaging, positioning and communicate with your existing social base. Audiences on engaged channels will dictate any changes they would like to see, giving brands the chance to be transparent with mission statements, share changes to products, and offer a first look to those actively participating with your social posts. This is a great audience to use for awareness and for scaling broad messages.
Advantages of Paid Social Media Campaigns
Paid Social flexes the ability to expand reach by using targeting that is relevant and scalable for your brand. You can target based on location, employment, household income for U.S. audiences (although there are exceptions with the special ad category), gender, age, and interests, creating more nuanced audiences based on campaign goals and channels. LinkedIn is for C-Suite targeting and is much more B2B-focused, whereas purchases for a beauty products are more likely to happen on Facebook, Instagram, Snapchat, or TikTok.
How Organic and Paid Social Media Work Together
Working from channel insights, you can use organic contextual targeting and social listening and leverage these insights to develop personas and targeting segments. You can also expand on formats and tests you’ve performed in organic social media without running similar A/B tests that require a budget. We recommend create similar audiences to users who engage and interact with organic videos and target your followers to better focus on lower conversion events (such as lead ads or purchases). This can help expand your reach to a new audience. However, that is not where the cohesive conversation ends. Both organic and paid social media have a place in your marketing strategy.
Suppose a post performs well and gains high engagement (likes, comments, shares, etc.) organically. In that case, this success is something you will want to scale with paid dollars to capitalize upon the post’s organic success. Learnings from organic should inform paid, and vice versa, whether it is insights from comments received on posts or best-performing creative types. Leverage that success to a conversion or store locator ad and include lookalikes from your first-party data and site traffic to expand the impact of your organic posts. This will also help you remarket to loyal existing customers and drive impact to top consumers with special promotions and new product launches. Ensure you are using brand-approved hashtags on Twitter and Instagram to continue trending conversations.
Paid and Organic Social Media Play a Role In the Customer Journey
Successes from paid social media can be shared on organic social media, and organic social media successes should be shared on paid social media. These conversations/successes should be part of your holistic marketing plan instead of organic and paid social media working in silos, as each has its place in the consumer journey and ad conversion funnel. This goes beyond social media and should be a strategy utilized across all your digital marketing campaigns.
Your most influential advocates for your brand’s experiences and products are your social media followers. Feedback on paid and organic social media can work in tandem for updates, tweaks, and optimizations you might need to make as a brand. Potential influencers and UGC content are ripe for the taking, and brands can amplify these assets at an efficient ROAS without the content burden on your team. This applies to all paid and organic channels and can be used across channels like Snapchat, Facebook, TikTok, and Instagram.
According to Ad Roll, “On Facebook, organic posts only reach about 2% of followers, and that number is steadily declining.” Using the qualified nature of organic with the sophisticated tools of paid, you can cater to and expand your social presence as a whole while being both relevant and scalable. If you do not use insights from both, you will be missing an essential piece of the social media marketing puzzle, and your content marketing campaigns will lack impact.
POV by Gellena Lukats, Director of Paid Social Media and Mary Sutter, Director of Organic Social Media for Acronym
Facebook published a new report, using research derived from Hong Kong and Taiwan, that shows how digital media has reshaped the modern shopping process.
Among other trends, the report found that convenience continues to be the #1 purchase driver, underscoring the need for hyper-seamless checkout.
While the downside of online shopping is the lack of tangibility (which formats like live shopping and AR aim to address), the upside is the ability to compare prices and options, something that may be associated with declining brand loyalty.
The report explains that brand loyalty as we used to know it is under threat. According to Nielsen’s Global Consumer Loyalty study, only 8% of consumers consider themselves committed loyalist to their favorite brands. With the variety of choices presented in consumers’ lives today, coupled with rising spending powers relative to product costs, brand switching becomes effortless and less risky.
Why is this important?
While the report is based on data from the APAC region, the findings have worldwide implications. Boosted by the pandemic, more consumers than ever are shopping online, and “have high expectations [that they] are not willing to lower when online shopping.”
Acronym’s EVP, International GM, Farah Sadiq explains:
“According to an Epsilon study, 80% of consumers are more likely to make a purchase when brands offer personalized service. Personalization in a messenger environment isn’t new to Facebook (the Facebook messenger bot has been around since 2018).
The key to success is for brands to build out a conversational eCommerce strategy that places prospects in a low pressure environment where they are comfortable sharing their budget and preferences and receptive to product recommendations in a highly visual (image or video based), engaging and personalized manner. In other words, access to your very own personal shopper at your finger tips.”
What is the impact on brands?
Acronym’s VP of Asia Operations, Pearlyn Kua takes it a step further when it comes to the opportunities this report presents for brands.
“The disruption caused by the pandemic has evolved consumers’ buying behaviour due to shops being closed as the city goes into lockdown. Consumers’ usual go to products / brands may often become unavailable. This presents opportunity for businesses to capitalise as consumers establish new brand loyalties and patterns of purchasing behaviour.
In Asia, we have seen businesses revised their business models to remain agile through removing cumbersome processes & increased communication across teams. This allows them to continue business while remaining competitive and operational under stringent measures.”
Shopping of all types, not just physical products, is subject to rising consumer expectations.
While companies that sell consumer goods need to use creative new tools to help online shoppers get a sense for how products look and feel, companies selling services also need to up their game in providing engaging shopping experiences.
A fuss-free checkout process is equally important for every brand selling online.
In fact, the average shopping cart abandonment rate is 70%. But, it doesn’t have to be that high if brands pay attention to the customer’s experience and initial intent. Acronym’s Director of Paid Social Media, Gellena Lukats explains:
“We have found our dynamic product ads on Facebook drive some of the most efficient ROAS and revenue. Tapping into the audience that shows intent helps scale our campaigns and drive performance.”
In fact, the study goes on to show that continued engagement with consumers keeps them loyal. Per the study, an overwhelming majority of Hong Kong and Taiwan shoppers want brands to stay in touch with them and have indicated an interest to receive brand communications from brands.
We recommend optimizing your brand’s online shopping experience, including experimenting with new creative formats, like live-stream shopping, brand stores, or shoppable posts.
If you’d like more information, including a deep-dive competitive and customer analysis of these purchase opportunities for your brand, contact us today.