Ecommerce martech company, Rokt has released new research today revealing the best opportunity for engaging and appealing to consumers online is when they are already in the buying mindset. In a survey of over 4,000 consumers worldwide, 81% of US respondents said they are happiest online when shopping.
For years, brands have leveraged the concept of retail therapy, and now it has been proven that this concept converts to an even more powerful opportunity online – an opportunity to target consumers during a buying mindset coined The Transaction Moment™ – where both the mind and wallet are open.
The Happiest Place in Digital report, commissioned by Rokt, explores consumers' emotions when taking part in various digital activities, including shopping, social media, and search activity. Research results showed that US consumers are four times as likely to be at their happiest when completing a purchase than watching funny videos or connecting with friends on social platforms. In addition to being the happiest, consumers are by far their most engaged online when making a purchase. Consumers are 28% less likely to be multi-screening or multitasking when completing a purchase compared to when they are using social media.
Geoff Smith, CMO at Rokt, comments: "Actual consumer behavior on the Rokt platform supports that users are most engaged and receptive during the transaction - across more than a billion transactions, more than a third opted into an offer from another brand. The engagement, focus and sentiment, providing an ideal opportunity to setup the next transaction or introduce them to a complementary third-party brand."
Significant findings from the report include:
- Happy (64%), excited (45%), and productive (44%) are the most common emotions linked with making a purchase online, and three times as many US consumers feel productive when making a purchase (44%) than on social media (15%). Conversely, more than four times as many people feel frustrated when using social media (13%) than shopping (3%), and 50% more people cite anxiety as a common feeling when on social platforms (18%) than completing a purchase (12%)
- Attention spans are affected when thinking about multitasking and multi-screening, 71% undertake other activities like watching TV or socializing with friends while on social media, decreasing to 62% when researching online purchases, and down to 51% when completing a purchase
- Almost twice as many people were happy to see their transaction was confirmed (43%) than when they research products (24%), suggesting more satisfaction is generated the further a consumer is through the purchase journey
- After completing a transaction, 27% of users are open to offers from the same brand, 22% want to receive offers from new and undiscovered brands, and 20% express interest in signing up to loyalty programs showcasing the untapped opportunity to further engage with shoppers
Smith continued: "The opportunity that presents itself for brands to engage with consumers is significantly greater when they are in a buying state of mind, than search or social-based campaigns. This has been proven by our analytics, and confirmed by this research. We feel the Transaction Moment™ is the best opportunity in digital for brands to be introduced to and convert happy and engaged consumers."
The full global report can be found here
Rokt sits at the intersection of digital marketing and e-commerce, and connects brands with the right consumers when they are in a buying state of mind. Using data-driven insights to reach potential customers at the crucial Transaction Moment™, Rokt's pioneering technology and groundbreaking algorithms empower action-led marketing. This allows brands to start lifelong relationships with engaged, receptive consumers and delivers smarter monetization opportunities for e-commerce sites.
Rokt's premium marketplace of e-commerce partners includes major global brands such as eBay and Ticketmaster, offering brands access to 140 million transactions per month.
About the Happiest Moment in Digital report:
The overall aim of the Happiest Moment in Digital report was to investigate the emotions and engagement consumers experience when buying online, along with other digital activities. Specifically, the study set out to establish whether the Transaction Moment™ surpasses other key interactions as the happiest place in digital, and if so, what this means for marketers.
The Happiest Place in Digital Marketing study was conducted in May 2018 using an online survey. To ensure accurate national representation, the survey was completed by a sample of 4,198 UK, US, German, and Australian adult consumers aged over 18, weighted by age, gender, and region. After collating and analyzing resulting data, global averages were taken to identify wider trends and enable comparison with regional findings.
Source: PR Newswire