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How to Market Where Online Consumers are Shopping
1. How to Market Where Online Consumers are SearchingResults of a new research study Tuesday, August 3, 2010 - 1 PM EDT Speakers: Kim Rome, comScore Rob Murray, iProspect John Federman, Searchandise Commerce
2. SearchandiseCommerce: Simple, next-generation search solution that empowers- Retailersto transform on-site search into a profit center Manufacturers to assert greater control over product placement across their online retail channel $1.00 CPC Bid
3. Kim Rome, Senior Director of Research, comScore Kim Rome is Senior Director of Research at comScore, heading the custom survey team for the Retail and Travel division. 15 years of experience in consulting and market research design Specializes in brand and competitive strategic assessment, customer satisfaction, advertising effectiveness and multi-channel & website optimization.
4. Rob Murray, CEO, iProspect Robert J. Murray is Chief Executive Officer of iProspect. He is responsible for formulating the firm's corporate strategy as well as managing the company's operations. 20 years of strategic consulting and financial analysis expertise, He has served as the President of iProspect from 2000 to 2006 and CEO since 2007 In the past two years, iProspect has opened offices worldwide
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6. A Study On The Role of Retail Site Search BACKGROUND: comScore collaborated with Searchandise and iProspect to conduct research on the current usage of retail website search and the perceptions of products within the search results pages Identify the step-by-step purchase path and information sought Determine key drivers for shopping online versus offline Provide retail websites with tools to optimize their placement and communications strategies for the purpose of increasing satisfaction and conversion METHODOLOGY: Two-part research approach conducted in May, 2010: Online FocusSite Groups: 2 Groups with 25 participants each Email Survey: 1,167 comScore panelists CRITERIA: Have researched, shopped or purchased the following in the past 6 months: Computer and/or related products Consumer electronics
7. Online Research Is A Critical Step In The Purchase Process Consumer Electronics Overall Computers comScore Survey, May 2010. Base=have researched, browsed and/or purchased computers or consumer electronics in the past 6 months (N=1,167). Q: Please select the steps you have taken to research or browse the category.
8. Retail Website Research Leads To Both Offline And Online Sales Search Engine 21% Retail Websites 19% Manufacturer Websites 27% Physical Stores 21%
9. Consumer Electronics Shoppers Who Begin With Search, End at Retail Websites Retail Website 37% Search Engine 18% Manufacturer Website 27%
10. Computer Shoppers Are More Likely To Be Influenced On A Manufacturer Site Search Engine 19% Retail Website 39% Manufacturer Website 13% Physical Store 25%
11. Offline Shoppers Turn To Their Friends & Family For Advice Friends & Family 25% Physical Store 10% Retail Website 22%
25. Shopping Continuum Length Findings: Majority of sales cycles are >1 week and average 4.1 shopping resources Implications/Recommendations: Marketers must engage shoppers everywhere they research SEO PPC Display Ads Re-Targeting/Re-Messaging Listening and responding via social media
26. Shopping Online – Buying Offline Findings: Two-thirds of shoppers start online, but nearly half buy in-store Implications/Recommendations: Marketers are under-valuing the contribution of online channels to offline purchases Develop an attribution modeling process to measure impact of various channels on each other Put processing in place to track influence of online research to offline purchases Electronic Coupons/Discount Codes Point-of-Sale Surveys Post-Sale Surveys Click to Call Tracking
27. Barriers to Online Purchasing Findings: “Pricing Factors” are most frequent barrier to online purchase. “Convenience” most common advantage for online purchase Implications/Recommendations: Marketers must lower pricing as barrier enough that “convenience” outweighs “price” as a factor More Competitive Online Pricing Free Shipping Buy Online With In-Store Pick-Up Enhanced Online Research Tools to Answer “Tough Questions” Enhanced Product Images/Videos More Detailed Product Descriptions Product Comparison Tools Buyer/Expert Product Reviews
28. Use of Site Search vs. Browsing Findings: Twice as many shoppers use site search than browse the website from the landing page Implications/Recommendations: Marketers must craft landing pages that better match the specificity of the shopper’s search Specific Brands Specified Models Specific Features And provide most relevant/specific products at top of site search results as well Specific Brands Specified Models Specific Features
29. Search Engines & Site Search: 1-2 Punch Findings: Search engines and retailer websites are the 1st or 2nd stop in the shopping process for more shoppers than any other resources. Search engines are #1 driver of traffic to retailer sites Search engines #1 tool for product reviews and recommendations Implications/Recommendations: Marketers must ensure products, brands, models, product reviews, comparisons, images & videos appear Top of search engine results (Universal Search) Top of site search results
30. Polling Question 2 If you are a product marketer, who allocates the budget earmarked for increasing visibility with your retail channel partners ? We don’t run any programs with our retailers. Product marketing. Corporate marketing. Digital/interactive marketing. Our ad/search/branding agency. Our internal co-op or MDF group. Question doesn’t apply to me
31. Retailers are Trusted Advisors Select the steps you have taken to research or browse; and in the order in which you have completed them. The Value of Retail Search and Position, comScore, July 2010
32. Retailers are Trusted Advisors Select the steps you have taken to research or browse; and in the order in which you have completed them. The Value of Retail Search and Position, comScore, July 2010
33. Shopper Preferences Findings: Shoppers using retail websites for brand details, price options, promotions/sales, customer reviews Implications/Recommendations for retailers: Present most relevant search results within the top 3 – 5 products listed Offer product comparison tool or feature Include pictures of every item Include relevant warranty details Present pricing information clearly
34. Shopper Preferences Findings: Majority of shoppers go online for ease of comparison (61%), breadth of information (47%) and convenience (51%). Implications/Recommendations for retailers: As such, shoppers are clear on what they find less than desirable or disruptive on retail websites: Sites should be free of pop-ups and advertising Searches should return 10 – 15 listings Search landing pages/product detail pages must be relevant to the search
35. Premium Position Findings: Shoppers value the products they see within the first page of site search listings. Implications/Recommendations: Whether paid search or on site, shoppers attribute more value with products in premium position. Perceive top products as being most relevant to search. Associate top products with higher quality and value. Attribute top products as being better fit with needs. Confirms earlier findings that 70% of clicks happen in premium positions.
36. Implications for Product Marketers Findings: Over two-thirds of shoppers start out online where the challenge is getting your product seen by the most engaged shoppers. Implications/Recommendations: Marketers should evaluate new solutions that make premium position on retail sites available. Combine the strategy of in-store marketing with the tactics of search marketing Build brand and boost visibility leveraging premium position
37. Attaining Premium Position Campaign Digital Cameras + Camcorders Landing Page Pre-Campaign Digital Cameras + Camcorders Landing Page
