Consumer behaviors are changing, and this week, Meta has published a new report, in partnership with GroupM, which highlights some of the key trends in online shopping engagement, and what they mean for your brand.
The 26-page report, which you can download here, examines the role of brand loyalty in the modern consumer process, and how businesses can better establish trust and community via online tools.
As per the report:
“When developing a strategy, it’s key to understand that loyalty is about more than just repeat shopping. Loyalty is based on reciprocity: It is founded in shoppers’ feelings that they are valued by a brand as much as they value the brand themselves. Research shows that having a personal connection with a brand is equally important, if not more, than financial incentive in influencing where people shop.”
According to the report, some 64% of surveyed shoppers tried different brands, websites and apps during the COVID-19 crisis, as they sought to fulfill their purchase needs. That presents new opportunities for brand exposure, and shows that online shoppers are more open to different brand approaches – which also means that businesses need to work harder than ever to establish connection, and build brand trust.
There are many reasons for this. The convenience of online shopping provides many more opportunities for comparison, while the fast-paced nature of social media feeds also leads to more brand exposure opportunities.
In addition, Meta notes that consumer priorities are changing.
What a brand stands for is now a much more important factor, with more people looking to positively contribute to their environment and community.
Expectations around the shopping experience itself are also rising, with 63% of respondents noting that they’ve abandoned a product or site due to mobile usability issues.
“Convenience is the cornerstone of eCommerce, and a driving reason that online shopping has accelerated at such an astounding rate. Today, free and fast shipping is table stakes, and people expect businesses to take the next step. According to 66% of surveyed US consumers, the brands that earn their digital loyalty are the ones that go above and beyond by making life easier. This could look like proactively communicating purchase delays, sending a delivery service to personally pick up returns or offering prepaid shipping labels.”
Systematic improvements like this also raise the bar for all other sites, because as online shopping becomes more convenient, consumers are increasingly less willing to tolerate 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 returns. To continue shopping from an online website or app, 75% of surveyed US consumers say delivery speed is extremely important and 73% say the ease of returning items is.”
There’s also the expanded community, and the post-purchase flow, and how brands look to engage with customers to facilitate ongoing partnership.
There’s a lot to consider, but for the brands that can get it right, there are also significant benefits.
Loyal customers are 1.5x more likely than regular online shoppers to talk about their go-to shopping destinations, and with social media platforms giving everyone a voice, that can significantly expand your brand marketing efforts.
That alone makes this a key consideration, aside from meeting customer needs and aligning with evolving trends.
Which is really the key point – the way people shop is changing, and their expectations are also rising in-step. Brands need to recognize this, and these factors all play into that next-level experience, which can be delivered via your online channels.
There are some great notes in Meta’s full report, which you can download here, that could change how you approach your marketing efforts, and maximize process performance.
If you’re selling products online, it’s worth downloading the full report and checking out the expert insights.
Social media businesses look out, here comes Chat GPT
XiaoIce has pioneered a cutting-edge artificial intelligence system designed to create emotional bonds with its 660 million users worldwide. — © AFP
From the explosion of TikTok to the fall of Twitter, the social media industry has experienced some seismic changes over the past 12 months. Next year promises to be no different. How are those who rely on social media for businesses purposes to navigate through the turmoil ahead?
Luke Lintz, CEO of Highkey Enterprises, a multinational social media marketing firm, has told Digital Journal about the top three social media trends he expects to see in 2023.
Short-Form Video Content Will Dominate
Lintz observes the rise in video shorts and sees this trend as one that is likely to continue. Here he says: “The number one trend in the digital marketing landscape next year will be the emphasis and prioritization of short-form video content.”
This is because: “Social Media platforms’ competition for attention with short-form content has been the epicentre of 2022 and will continue to be the focus in 2023. People’s attention spans are ever-decreasing, and social media users quite often don’t have time to sit down and watch a 10-minute video and would rather watch a short video tailored to what they like to watch rather than a picture.”
Using example, Lintz finds: “This is why we have seen Instagram change its newsfeed and algorithms to favour Instagram Reels content in competition with Tik Tok. We have also seen a massive prioritization of YouTube Shorts in their fight against the lost attention to Tik Tok. In 2023 we will see very large incentive problems for top YouTube shorts, Tik Tok and Instagram Reel creators to incentivize the best creators to stay on the platform. For creators and business owners, they must strategize ways to incorporate short-form video content into their content plans to stay relevant.”
Social Media Users Will Turn Their Back On The Algorithm
This could be the age of new media. Lintz says: “Burnt out by the pressure of chasing “likes” and constantly trying to add new followers, a growing share of social media users will turn to smaller platforms in 2023. Sites like Discord, Mastodon, Geneva, Substack and Patreon emphasize community building in private spaces.”
In terms of the cultural change driving this, Lintz says: “A search for safe spaces and nostalgia for the Internet of the early 2000s — when the word “algorithm” wasn’t part of everyone’s vocabulary — has fuelled interest in these more intimate digital environments. Expect to see people look for smaller social media platforms that they have more control over.”
ChatGPT Will Revolutionize Social Media Management Companies
There is one new item of technology that is set to bring with it significant change. Lintz predicts: “Chat GPT (‘generating pre-training’) is not only the best artificial intelligence chatbot ever released to the general public, it also promises to usher in a new era for social media management companies, including HighKey Enterprises. The AI chatbot will take over basic writing tasks, thereby eliminating the need for human creativity to create new social media content.”
Social media businesses look out, here comes Chat GPT
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