Where we need to look when building an online conversion strategy.
In 2022, the number of digital buyers reached 2.56 billion people, and estimates indicate this figure will hit 2.77 billion by 2025, according to a study by Emarketer.
O consumer behavior is essentially a study that seeks to understand people's habits and reactions throughout the purchasing process. In other words: understanding consumers' feelings and perceptions toward a brand, products, and services, as well as their habits when researching and making a purchase.
Being on the internet is different from taking effective actions that drive sales. And it is precisely when putting together an online conversion strategy that behavioral data starts to matter.
That is why we are going to answer the burning question: what does online consumer behavior look like today?
Recent years
One of the factors that most impacted online consumption behavior since 2020 was the pandemic. While people were previously influenced only by the consequences of digital transformations, the limitations and uncertainties of a changing scenario definitely altered how people relate to online shopping.
Certain habits and values that consumers were already adopting were reinforced, especially brand and company loyalty, driven by the certainty and expectation of what they will receive.
Brand loyalty is built across several stages, but there is a consensus reinforced by the 2020 Zendesk report, stating that for 57% of surveyed customers, customer service is the second most important attribute that makes them loyal to a company, second only to price.
The key takeaway: consumers increasingly expect efficiency throughout the processes.
The famous humanization
Customer service, as a fundamental part of the customer experience, was one of the sectors that had to undergo the most changes during and after the pandemic. As a continuing result of this sensitive time, the need for empathetic and transparent communication from a brand in any segment, but especially in customer service, became paramount.
According to CX Trends 2023, 66% of consumers who interact with support state that a poor interaction with a company can ruin their day, directly impacting their purchasing decision.
You never get a second chance to make a first good impression. At ABM, we follow the maxim of being effective, clear, and fast in our service. Understanding the audience and using that insight to deliver personalized service can build loyalty in up to 62% of customers who say they prefer this type of interaction over generic ones, according to a Zendesk report.
Social media
Having easy access to information means easily recognizing your own power as well. Consumers today are more aware of the power of their opinions and have started sharing their experiences online.
According to research conducted by Criteo, 56% of consumers share their negative experiences on social media, while 41% share positive ones. The same study also found that 80% of respondents would recommend a product or service with a positive experience to their friends and family.
And paying attention to this behavior has never been more important, given that 98% of consumers worldwide check reviews when considering local business services, and 49% trust these reviews just as much as recommendations from friends and family.
The key takeaway: The Social Commerce 2.0 survey by All In in partnership with Opinion Box revealed that 75% of respondents use social media to research products, with Instagram being the most widely used platform for this purpose.
The dreaded online searches
Until 2017, the average customer searched on Google or Amazon when choosing a product. Bringing back the Criteo Shopper Store study, nearly 50% of consumers now search for products directly on an online store's website. In other words, the loyalty-building process becomes even more essential, and another way to build this power within a brand is through its positioning.
According to research by Edelman, 65% of buyers have stopped purchasing from a brand after it remained silent during an issue it had a duty to address. This sentiment can be understood by studying the generation and audience that consumes the brand.
In 2018, Nike "sparked controversy" by signing an advertising partnership with former San Francisco 49ers quarterback Colin Kaepernick, who took a stance against racism during the national anthem at a game in 2016. Despite facing some backlash, the brand's stock rose 36% for the year by the end of September [the launch month], with the company adding nearly $6 billion to its market value since it announced the partnership.
Millennials and Gen Z are more likely to consider social, environmental, and political factors in brand positioning.
The ads
Also according to the Criteo Shopper Store study, 3 out of 4 people click on ads when browsing the internet with the goal of discovering new brands and different products—a behavior strongly marked by Gen X and Millennials.
And what do we do with all this information?
It is no coincidence that all this data has been brought together here. ABM is not only your partner at every stage, but also maintains its culture of ensuring excellence throughout your experience with us.
Putting together an online conversion strategy means building a plan that makes sense, not just with what works, but aligned with the business objective.
Talk to one of our specialists and keep following the blog for more content like this.
