A recent Digiday article launched the notion that the purchase funnel is no longer a funnel, but rather an endless loop – one that online marketers must track in new ways.
Here’s how the article describes the buying loop and how “omnichannel’ marketing will change how advertisers engage consumers.
Pre-Shopping – It’s where ideas, cravings and preferences are born across display, search, social or anywhere consumers are open to something new. (Think Pinterest.) The key is creating a bridge from social/content to move consumers to the serious consideration phase.
Consideration – With so much competition, it’s harder than ever to get into a shopper’s consideration set and stay there. In store apps, QR codes and content marketing all help marketers get in the game, while retargeted ads help them stay there as shoppers research.
Purchase – With shopping cart abandonment rates averaging up to 75 percent (according to the Baymard Institute), the point of purchase is a make-or-break moment. Any point of friction gives consumers a chance to back out. From in-store pickup to in-store apps, are retailers doing whatever it takes to finalize the sale?
Post-Purchase – The omnichannel loop has no end, which means retailers must re-engage as soon as the transaction is complete. This is where customer data can be your greatest asset. Read more about using data in this new paradigm to track consumer sentiment, journey and action as it happens.