Boston, MA (April 14, 2016) - Ninety-four percent of would-be buyers will abandon an ecommerce site or just give up altogether if product content is deficient and they are unable to find the information they need. This was a key finding of a consumer study, commissioned by Salsify, the leading product content management platform for today’s distributed commerce networks. The research also found that lucky number three can be key to solving this problem: 66 percent of respondents report that they require at least three product images and 82 percent want to see a minimum of three product reviews when they are considering a purchase.
Ninety-percent of consumers do their shopping online, but a whopping 88 percent demand accurate, rich, and complete product content in order to hit “buy” on a particular ecommerce site. Salsify set out to examine what online shopping experiences convert consumers from browse to buy. The findings revealed clear direction for retailers and brands trying to provide digital consumers with the right content, at the right time, to win in the endless aisle.
Findings highlighted the significant opportunity for retailers to up their online game – surprisingly, price ranked third with regards to impact on a consumer’s decision to make a purchase, after detailed product descriptions (#1) and ratings and reviews (#2).
“Consumers are naturally very price-conscious,” said Jason Purcell, co-founder and CEO at Salsify. “But when making purchasing decisions, the research supported what we already believed to be true - strong product content is a critical factor to “buy”. This validates our goal to help brands deliver accurate, complete content in order to build out a unique experience for consumers on every channel, and ultimately, increase their chance at standing out among the noise that is the commerce landscape.”
What Makes Millennials and Moms Click “Buy”?
More than everyone else, Millennials reported that product content is “extremely important” to their decision to buy (40 percent more likely than any other group). But Millennials are very influenced by what their friends think. In fact, Millennials are 60 percent more likely than other adult age groups to click over to a product based on a friend’s social post. They are 72 percent more likely to purchase based on photos of others who have used it. Also, opinions matter: Millennials are 50 percent more likely to rank ratings and reviews as the number one most important factor when deciding which site to buy from.
Retailer/Brand action item: if Millennials are your target market, including social and user-generated content in your product content is critical.
Busy moms click “buy” on the go – they are 43 percent more likely than anyone else to buy from their mobile phone. To make that decision, they need the right content (detailed product information and ratings and reviews), and they need it fast. That’s because busy moms don’t have time to shop around: compared to other adults, they are 47 percent more like to only 1 to 2 sites before hitting “buy” (47 percent). And since moms are 30 percent more likely than everyone else to shop on their phone, retailers and brands must ensure they have a strong search engine optimization (SEO) strategy so their products are found when anyone searches online, including moms. Moms represent a $2.4 trillion market and as a result, marketers should continue to listen to their feedback to grow their user base.
Retailer/Brand action item: if moms are a target market, the experience on a mobile phone is critical, both in search and on the retailer’s mobile site or app.
The findings of this study conclude that for commerce, content is king. According to an upcoming Salsify whitepaper, the key to creating quality content must include the following:
- Creating product content is not simply done by a copywriting team buried in marketing; instead it should involve a centralized content team managing content collaboration across the go-to-market organization - from research and development to marketing and sales - participating throughout the lifecycle of a product
- Developing product content is not a “set and forget” operation done once pre-launch; it is a continual process that requires frequent optimization and refreshes to respond to changing market dynamics
- Standing out on the digital shelf in a distributed commerce world – across desktops, mobile, search, in-store - requires driving all efforts towards ensuring a consistent, engaging, accurate digital experience of products everywhere a consumer might discover them.
The study was conducted by SurveyMonkey, which, between February 22nd and 24th, 2016, surveyed more than a thousand online shoppers about what impacts their decisions when they shop and buy. To read the whole research report, please visit http://info.salsify.com/consumer-research-report.
Based in Boston, Salsify’s SaaS-based Product Content Management platform powers the creation, management, and syndication of product content across the distributed commerce ecosystem. Salsify transforms product content management from an administrative burden into a driver of new revenue, increased productivity, and market share growth. For more information, please visit: http://www.salsify.com.
InkHouse (for Salsify)