At a recent Global Reviews Online Retail Webinar specifically looking at the process of purchasing a laptop online, attendees were presented with some insights around the awareness to consideration phases of the customer’s journey.
The Global Reviews Shortlist Report found the following key insights:
- Out of approximately 20 brands highlighted in the study 3 major brands accounted for 51% of the initial preference
- The store with the highest unprompted awarness was in the end only selected 11% of the time
- 66% who mentioned they would select a brand top of mind, some would change their mind during their research.
- 28% of users did not have an initial preference when going online therefore were open to be persuaded.
The top 6 reasons for short listing a brand mentioned by 45% of participants were:
- The website helped me find products quickly
- They offer good prices I’m familiar with the online retail store brand(s)
- They have good deals / offers They have a good reputation
- They gave me plenty of options to choose from.
In summary, the general findings were:
The case studies of a couple of the companies told us that a large percentage of prospective customers are brand loyal, but that brands both win and lose customers through the research journey they take according to what sites they visit.
We have seen that lesser known brands can drive a significant customer base to prefer their brand by having a strong and convincing online presence.
The ability to understand your prospective customer’s journey from awareness to final preference provides a strong competitive advantage and the necessary insights to understand how to allocate budget to maximise online conversion and ROI.
The full Shortlist Report findings are available from Global Reviews. If you are interested in purchasing the report please contact us.