Converting Browsers to Buyers Masterclass: US…

Converting Browsers to Buyers Masterclass: US Market [On-Demand Video]

How to measure and capture key customer segments in 2019

The majority of businesses focus on their current customers online. These are the people who typically visit and purchase/book/convert on your site.

While retention and loyalty are absolutely critical (particularly in today’s hyper-competitive online landscape), Julia Millot, Hitwise’s Content Strategy and Insights Manager, showcases some “lesser known” segments that are becoming increasingly important.

In this video, you will learn about:

  • “Indirect” customers- who buys from your brand but also from other marketplaces
  • “Lost” customers- who visits or searches for your brand, but ends up purchasing elsewhere
  • “Potential” customers- who is aware and interested in your brand, but hasn’t taken the steps to search for you

Your ‘indirect’ customers: identify when direct and indirect buyers purchase

Tracking sales trends for direct versus indirect buyers allows us to see when peaks occur for each groups buying cycle. Based on the results in the chart, Adidas can time their promotions with Nordstrom closer to Christmas. Foot Locker can also time their promotions before Black Friday, based on the chart information.

Adidas Buyers- Weekly Share
Direct (on Adidas) and Indirect (on Foot Locker & Nordstrom)

Source: Hitwise, US. Audience View.

Your ‘lost’ customers: benchmark your conversion rates

Lightstream is a consumer loan division of Suntrust bank. Like other financial service brands, Lightstream focuses on conversions through its online applications. When benchmarking against its competitor set, Lightstream shows a higher application start rate but the application completion rate falls short. Its completion rate is 35% in comparison to the 44% statistic of its competitor set.

Lightstream – Loans Applications
Conversion Funnel

Source: Hitwise, US. Conversion Funnel = Visited/Started application/Completed application on Lightstream’s site, vs. key competitors. Period = 5 weeks ending November 3rd, 2018.

Your ‘potential’ customers: define your campaign audience online

This chart analyses the sponsors from the 2019 Super Bowl and how fans searched for them during the week. By defining the campaign audience, we can see how each brand performed within the target group. Among auto sponsors, Mercedes saw the smallest uplift of +46% in comparison to Audi and Hyundai’s +284% uplift. Bud Light, however, saw a staggering uplift of +1,587% in the drinks sponsors category. 

The Super Bowl Fans
Number of Fans Searching for Sponsors, over Super Bowl week (‘000)

Source: Hitwise, US. Super Bowl Audience = Visited or searched for “super bowl” (and variations of the term). Chart shows # of people within the Super Bowl audience also searching for brand sponsors. Period = 1 week ending February 9, 2019. * Percentage shows relative difference compared to the previous week.

Watch the video to learn about indirect, lost and potential customers

Want to view the slides? Click Here

[addthis tool="addthis_inline_share_toolbox_mzrh"]