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Facebook Publishes New Report on the Key Factors Influencing Online Purchases

Published

3 years ago

June 9, 2021

facebook publishes new report on the key factors influencing online purchases

Facebook has published a new research report, in conjunction with Kantar, which looks at how the evolution of digital media has disrupted the modern shopping process, and what retail brands and marketers need to plan for within their process.

That, of course, has been further exacerbated by the pandemic, with an increasing number of shoppers turning to online discovery and buying channels in place of physical stores. And while that’s been a necessity over the past 12 months, it’s also awakened many consumers to the convenience of such, which will lead to a lasting, accelerated shift towards online spending, which all retailers need to note.

Facebook’s research report is primarily focused on users in Hong Kong and Taiwan, but the results have implications for all regions and consumers, with a range of key notes and pointers on the rise of eCommerce, changing expectations in product discovery, and the shifting role of brand relationships within this process.

You can check out the full report here, but in this post, we’ll look at some of the key notes.

First off, Facebook notes that the rising adoption of online content formats has also lead to new opportunities for product discovery and exposure.

“New digital formats, especially video and live content enable new ways to engage online audiences and keep them coming back. As video formats proliferate, from over-the-top video viewing to livestreams, the overall digital environment will become more immersive than ever.”

We’ve already seen platforms like TikTok and Facebook incorporate new forms of live-stream shopping, where products discussed within the broadcast can be purchased, then and there, within a few clicks. The report suggests that formats like this will become more popular over time, providing a more immersive, engaging aspect to the online shopping experience.

The report also looks at the key drivers of purchases, noting that ‘convenience’ remains the key driver – an area that online brands still need to address.

As per the report:

“Given that the main driver of shopping online is convenience, this is an indication of how much further online shopping channels have to go before being a reliable replacement for offline shopping. Consumers have high expectations and are not willing to lower them when online shopping.”

In line with this, the report also notes that even the slightest inconveniences in the purchase process can lose you sales.

“In Hong Kong, fuss-free checkout is a basic requirement. 1 in 3 will abandon their carts if checkout involves too many steps, while another 1 in 3 expect the payment authentication process to be fast and require no action from them. In Taiwan, as mobile catches up with desktops as the dominant mode of shopping, the availability and ease of mobile payment modes will be critical.”

Being able to physically look at an item, and take it home with you then and there, remains a key consideration, and a key value point for physical shopping. New developments like AR are seeking to bridge this gap, along with processes like live-stream shopping, but the responses here underline the need to ensure your purchase process is as seamless and integrated as possible, to reduce that gap wherever you can.

A key benefit of online shopping, however, is the capacity to compare prices, and get the best deals in fewer steps.

“As shoppers become more affluent and sophisticated, so do their consideration factors. Beyond price, globally consumers are prioritizing factors such as convenience, shoppability, and assortment when selecting a retailer. Mature consumers have developed more complex consideration factors, not only looking for the cheapest products but, more subjectively, the “best” products.”

Which points to benefits for shoppers, but for brands, that may not be the best news, because as the report also found, brand loyalty is also waning.

“According to Nielsen Global Consumer Loyalty study, it is found that 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.”

In line with this, the report also notes key factors for improving brand loyalty, which should be factored into all brand-building and customer service strategies.

“It’s crucial for brands to meet each driver to arouse brand love amongst shoppers and to reignite opportunities for re-purchases, right after the first purchase is being made. By getting key drivers right, it will also improve brand-shopper relationship where brand love will blossom from thereon.”

In summary, consumers have more choice than ever, and in order to make them come back to your brand, convenience and service remain key, even in an online shopping environment.

The full report runs over four separate blog posts, and includes a range of additional insights into changing consumer behaviors. It’s worth a read if you’re looking to build your online brand and selling process.

You can check out Facebook’s full “Shopper Journey Disruption” report here.

Socialmediatoday.com

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12 Proven Methods to Make Money Blogging in 2024

Published

4 months ago

May 14, 2024

Entireweb News Bot

This is a contributed article.

The world of blogging continues to thrive in 2024, offering a compelling avenue for creative minds to share their knowledge, build an audience, and even turn their passion into profit. Whether you’re a seasoned blogger or just starting, there are numerous effective strategies to monetize your blog and achieve financial success. Here, we delve into 12 proven methods to make money blogging in 2024:

1. Embrace Niche Expertise:

Standing out in the vast blogosphere requires focus. Carving a niche allows you to cater to a specific audience with targeted content. This not only builds a loyal following but also positions you as an authority in your chosen field. Whether it’s gardening techniques, travel hacking tips, or the intricacies of cryptocurrency, delve deep into a subject you’re passionate and knowledgeable about. Targeted audiences are more receptive to monetization efforts, making them ideal for success.

2. Content is King (and Queen):

High-quality content remains the cornerstone of any successful blog. In 2024, readers crave informative, engaging, and well-written content that solves their problems, answers their questions, or entertains them. Invest time in crafting valuable blog posts, articles, or videos that resonate with your target audience.

Focus on evergreen content: Create content that remains relevant for a long time, attracting consistent traffic and boosting your earning potential.
Incorporate multimedia: Spice up your content with captivating images, infographics, or even videos to enhance reader engagement and improve SEO.
Maintain consistency: Develop a regular publishing schedule to build anticipation and keep your audience coming back for more.

3. The Power of SEO:

Search Engine Optimization (SEO) ensures your blog ranks high in search engine results for relevant keywords. This increases organic traffic, the lifeblood of any monetization strategy.

Keyword research: Use keyword research tools to identify terms your target audience searches for. Strategically incorporate these keywords into your content naturally.
Technical SEO: Optimize your blog’s loading speed, mobile responsiveness, and overall technical aspects to improve search engine ranking.
Backlink building: Encourage other websites to link back to your content, boosting your blog’s authority in the eyes of search engines.

4. Monetization Magic: Affiliate Marketing

Affiliate marketing allows you to earn commissions by promoting other companies’ products or services. When a reader clicks on your affiliate link and makes a purchase, you get a commission.

Choose relevant affiliates: Promote products or services that align with your niche and resonate with your audience.
Transparency is key: Disclose your affiliate relationships clearly to your readers and build trust.
Integrate strategically: Don’t just bombard readers with links. Weave affiliate promotions naturally into your content, highlighting the value proposition.

5. Display Advertising: A Classic Approach

Display advertising involves placing banner ads, text ads, or other visual elements on your blog. When a reader clicks on an ad, you earn revenue.

Choose reputable ad networks: Partner with established ad networks that offer competitive rates and relevant ads for your audience.
Strategic ad placement: Place ads thoughtfully, avoiding an overwhelming experience for readers.
Track your performance: Monitor ad clicks and conversions to measure the effectiveness of your ad placements and optimize for better results.

6. Offer Premium Content:

Providing exclusive, in-depth content behind a paywall can generate additional income. This could be premium blog posts, ebooks, online courses, or webinars.

Deliver exceptional value: Ensure your premium content offers significant value that justifies the price tag.
Multiple pricing options: Consider offering tiered subscription plans to cater to different audience needs and budgets.
Promote effectively: Highlight the benefits of your premium content and encourage readers to subscribe.

7. Coaching and Consulting:

Leverage your expertise by offering coaching or consulting services related to your niche. Readers who find your content valuable may be interested in personalized guidance.

Position yourself as an expert: Showcase your qualifications, experience, and client testimonials to build trust and establish your credibility.
Offer free consultations: Provide a limited free consultation to potential clients, allowing them to experience your expertise firsthand.
Develop clear packages: Outline different coaching or consulting packages with varying time commitments and pricing structures.

8. The Power of Community: Online Events and Webinars

Host online events or webinars related to your niche. These events offer valuable content while also providing an opportunity to promote other monetization avenues.

Interactive and engaging: Structure your online events to be interactive with polls, Q&A sessions, or live chats. Click here to learn more about image marketing with Q&A sessions and live chats.

9. Embrace the Power of Email Marketing:

Building an email list allows you to foster stronger relationships with your audience and promote your content and offerings directly.

Offer valuable incentives: Encourage readers to subscribe by offering exclusive content, discounts, or early access to new products.
Segmentation is key: Segment your email list based on reader interests to send targeted campaigns that resonate more effectively.
Regular communication: Maintain consistent communication with your subscribers through engaging newsletters or updates.

10. Sell Your Own Products:

Take your expertise to the next level by creating and selling your own products. This could be physical merchandise, digital downloads, or even printables related to your niche.

Identify audience needs: Develop products that address the specific needs and desires of your target audience.
High-quality offerings: Invest in creating high-quality products that offer exceptional value and user experience.
Utilize multiple platforms: Sell your products through your blog, online marketplaces, or even social media platforms.

11. Sponsorships and Brand Collaborations:

Partner with brands or businesses relevant to your niche for sponsored content or collaborations. This can be a lucrative way to leverage your audience and generate income.

Maintain editorial control: While working with sponsors, ensure you retain editorial control to maintain your blog’s authenticity and audience trust.
Disclosures are essential: Clearly disclose sponsored content to readers, upholding transparency and ethical practices.
Align with your niche: Partner with brands that complement your content and resonate with your audience.

12. Freelancing and Paid Writing Opportunities:

Your blog can serve as a springboard for freelance writing opportunities. Showcase your writing skills and expertise through your blog content, attracting potential clients.

Target relevant publications: Identify online publications, websites, or magazines related to your niche and pitch your writing services.
High-quality samples: Include high-quality blog posts from your site as writing samples when pitching to potential clients.
Develop strong writing skills: Continuously hone your writing skills and stay updated on current trends in your niche to deliver exceptional work.

Conclusion:

Building a successful blog that generates income requires dedication, strategic planning, and high-quality content. In today’s digital age, there are numerous opportunities to make money online through blogging. By utilizing a combination of methods such as affiliate marketing, sponsored content, and selling digital products or services, you can leverage your blog’s potential and achieve financial success.

Remember, consistency in posting, engaging with your audience, and staying adaptable to trends are key to thriving in the ever-evolving blogosphere. Embrace new strategies, refine your approaches, and always keep your readers at the forefront of your content creation journey. With dedication and the right approach, your blog has the potential to become a valuable source of income and a platform for sharing your knowledge and passion with the world, making money online while doing what you love.

Image Credit: DepositPhotos

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Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

Published

6 months ago

March 18, 2024

Max

Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

In a recent announcement, Snapchat revealed a groundbreaking update that challenges its traditional design ethos. The platform is experimenting with an option that allows users to defy the 24-hour auto-delete rule, a feature synonymous with Snapchat’s ephemeral messaging model.

The proposed change aims to introduce a “Never delete” option in messaging retention settings, aligning Snapchat more closely with conventional messaging apps. While this move may blur Snapchat’s distinctive selling point, Snap appears convinced of its necessity.

According to Snap, the decision stems from user feedback and a commitment to innovation based on user needs. The company aims to provide greater flexibility and control over conversations, catering to the preferences of its community.

Currently undergoing trials in select markets, the new feature empowers users to adjust retention settings on a conversation-by-conversation basis. Flexibility remains paramount, with participants able to modify settings within chats and receive in-chat notifications to ensure transparency.

Snapchat underscores that the default auto-delete feature will persist, reinforcing its design philosophy centered on ephemerality. However, with the app gaining traction as a primary messaging platform, the option offers users a means to preserve longer chat histories.

The update marks a pivotal moment for Snapchat, renowned for its disappearing message premise, especially popular among younger demographics. Retaining this focus has been pivotal to Snapchat’s identity, but the shift suggests a broader strategy aimed at diversifying its user base.

This strategy may appeal particularly to older demographics, potentially extending Snapchat’s relevance as users age. By emulating features of conventional messaging platforms, Snapchat seeks to enhance its appeal and broaden its reach.

Yet, the introduction of message retention poses questions about Snapchat’s uniqueness. While addressing user demands, the risk of diluting Snapchat’s distinctiveness looms large.

As Snapchat ventures into uncharted territory, the outcome of this experiment remains uncertain. Will message retention propel Snapchat to new heights, or will it compromise the platform’s uniqueness?

Only time will tell.

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Catering to specific audience boosts your business, says accountant turned coach

Published

7 months ago

February 26, 2024

Entireweb News Bot

Catering to specific audience boosts your business, says accountant turned coach

While it is tempting to try to appeal to a broad audience, the founder of alcohol-free coaching service Just the Tonic, Sandra Parker, believes the best thing you can do for your business is focus on your niche. Here’s how she did just that.

When running a business, reaching out to as many clients as possible can be tempting. But it also risks making your marketing “too generic,” warns Sandra Parker, the founder of Just The Tonic Coaching.

“From the very start of my business, I knew exactly who I could help and who I couldn’t,” Parker told My Biggest Lessons.

Parker struggled with alcohol dependence as a young professional. Today, her business targets high-achieving individuals who face challenges similar to those she had early in her career.

“I understand their frustrations, I understand their fears, and I understand their coping mechanisms and the stories they’re telling themselves,” Parker said. “Because of that, I’m able to market very effectively, to speak in a language that they understand, and am able to reach them.”Â

“I believe that it’s really important that you know exactly who your customer or your client is, and you target them, and you resist the temptation to make your marketing too generic to try and reach everyone,” she explained.

“If you speak specifically to your target clients, you will reach them, and I believe that’s the way that you’re going to be more successful.

Watch the video for more of Sandra Parker’s biggest lessons.

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