Consumer behavior is changing, and this week, Meta released a new report, in partnership with GroupM, highlighting some of the key trends in online shopping engagement and what it means for your brand.
26-page report, which you can download HereExamines the role of brand loyalty in the modern consumer process and how businesses can better build trust and community through online tools.
According to Report:
“When creating a strategy, it is important to understand that loyalty is more than just a repetition of a purchase. Loyalty is based on reciprocity: it is established in buyers’ feelings that they are valued by a brand as much as they value their own brand. Research shows that having a personal connection to a brand is equally important, if not more so, than the financial incentives to influence where people shop. “
According to reports, Something 64% of buyers surveyed tried different brands, websites and apps during the COVID-19 crisis because they wanted to meet their purchasing needs. It introduces new opportunities for brand exposure and shows that online shoppers are more open to different brand approaches – which means businesses need to work harder than ever to connect and build brand trust.
There are many reasons for this. Online shopping offers many more opportunities to compare, while the fast-paced nature of social media feeds leads to more brand exposure.
In addition, Meta notes that consumer preferences are changing.
What a brand implies is now a much more important factor, as more people want to contribute positively to their environment and community.
Expectations are also rising around the shopping experience, with 63% of respondents reporting that they have abandoned a product or site due to mobile usability issues.
“Convenience is the cornerstone of e-commerce, and a driving reason why online shopping has accelerated at such an astonishing rate. Today, free and fast shipping table stocks, and people expect businesses to take the next step. According to 66% of surveyed U.S. consumers, the brands that achieve their digital loyalty make life easier and move up and down. It can look like actively communicating a purchase delay, sending a delivery service to personally pick a return, or offering a prepaid shipping label. ”
Systematic improvements like these add barriers to all other sites, as online shopping becomes more convenient, and customers are less willing to endure roadblocks and delays to get what they want.
“Once people make up their minds, they want instant gratification, so the shopping experience should be quick and convenient, especially when it comes to delivery and return. To continue shopping from an online website or app, 75% of surveyed U.S. consumers said speed of delivery is critical and 73% said items are easy to return. “
There are also expanded communities, and after-sales flows, and shows how brands engage with customers to facilitate ongoing partnerships.
There are many things to consider, but there are also significant benefits for brands that can get it right
Loyal customers are 1.5 times more likely to talk about their shopping destination than regular online shoppers, and social media platforms give everyone a voice, which can significantly expand your brand marketing efforts.
In addition to meeting customer demand and aligning with the growing trend, this alone makes it a key consideration.
Which, of course, made the video an overnight sensation. Brands need to recognize this, and all of these factors work within the next-level experience that can be delivered through your online channels.
The full report of the meter contains some great notes, which you can download HereIt can change how you interact with your marketing efforts and maximize process effectiveness.
If you sell products online, it is worth downloading the full report and examining expert insights.