Retailers able to capture customer attention early in the buying cycle are often those that win long-term. Early exposure of any kind is useful for building trust and ensuring shoppers feel a sense of loyalty from the start, even if they don’t buy immediately.
In Canada, numerous retail companies recognize this reality and are doing what they can to adopt strategies to help them break into the buying cycle while consumers are in the awareness stage. These firms believe it is a powerful way to stay one step ahead of the competition.
“One method many of these outfits are using is educational content,” the marketing app, Score, explains. “Brands are building blogs and investing in videos that address customers’ pain points and build trust immediately.”
For example, hardware stores with sophisticated marketing departments will often run series on how to perform specific DIY repairs. Consumers often find these when they are looking for a solution for a specific problem. These efforts make the store a trusted source immediately, even if the retailer didn’t write the article in the first place.
Leveraging data-driven insights is another tactic currently being used by some of the most popular brands. Companies are finding ways to eke more information from the data they have using machine learning, and are then feeding those findings into their marketing strategy for lead generation.
What is lead generation? It’s a common question, but it essentially refers to capturing the attention of anyone interested in buying from a specific firm. Many companies are using their information to predict and respond to shopper requirements before they express the urge.
This tactic is something that has made Salesforce such a successful customer relationship management (CRM) tool. The company understands how to use big data and AI to give retail brands a leg up in understanding how their shoppers operate and what they really want.
Once companies understand their data, they are better able to foster loyalty. Customers sense they are paying more attention to them and understand their needs in more detail. Paradoxically, using more numbers often makes customers feel less like them.
“It’s clear that companies that understand their customers are at a significant advantage in today’s marketplace. These firms are better able to get wins,” Score says. “This advantage is particularly clear in industries that are yet to digitize en masse or use customer data to inform operations. First-movers are often able to capture the entire market, allowing them to set prices and other metrics the way they want.”
Social proof early in the buying cycle also feeds into this process. Customers who see their peers talking about the quality of a specific product are more inclined to try it themselves.
How brands integrate social proof into the early phases of the buying cycle depends on their strategy. However, many find it wise to keep this kind of content and information nearby at all times.
For example, some brands are posting their positive review scores next to their products and then linking to trusted third-party platforms to corroborate their claims. These tactics give skeptical shoppers some reassurance and convince them that if someone like them can benefit from spending money with a specific brand, then they can, too.
Another method is to post user-generated content (UGC) of people using the brand’s products. This approach can create a stir, but it is also highly effective in some circumstances, especially for retailers with a strong social media presence. Prospective shoppers can see other people using products, giving them a clearer sense of the quality and solutions to expect.
For example, fashion retailers will often post reviews on their product pages below the description, providing a fuller and more complete picture of what shoppers can expect. This tactic is useful for brands that want to sell products quickly and don’t want to wait for a long lead process.
It can also help other types of firms, but the process there involves more UGC. Companies are keen to show that they have a loyal fan base who appreciates what they create and that is willing to pay a premium for their goods or services. Luxury gym wear and skin care both fall into this category.
Seasonal campaigns may also assist some retailers in tapping into the buying cycle earlier in Canada. Retailers often find it useful to align their front-of-house offering with what consumers need for the time of year. At a basic level, this could mean Christmas decorations over the festive period or sunglasses in the summer. When brands provide these lead-in offers, it often attracts more follow-on spending and builds trust.
Ski equipment retailers regularly try this strategy before the first snowfall in September and October in Canada. Shoppers are often looking for great deals on products before they hit the slopes, and want equipment before the busiest winter period.
Timing sales and outreach efforts to this time of the year is clever because it helps to break the buying cycle. Shoppers often want to just buy items at a discount and move on with ski season instead of waiting longer, which could be risky if stocks run low. Stores also advertise over a period when consumers feel the most keen to solve their skiing-related problems and buy, again, breaking the buying cycle early on.
“To attract shoppers, it is a good idea for Canadian retailers to offer quizzes and tools for shoppers that they find helpful. Calculators can enable them to determine whether they need a specific product and, if so, how much. It can also make it easier for them to make informed decisions that reflect their best interest.”
To further strengthen their early-stage engagement strategies, many retailers are turning to advanced digital solutions such as involve.me, a versatile funnel builder designed specifically for capturing and converting leads. With its intuitive drag-and-drop editor, involve.me empowers retailers to easily craft engaging multi-step funnels using quizzes, calculators, surveys, and personalized forms.
Of course, creating these tools isn’t easy, but if it means breaking the buying cycle, it’s usually worth it. Companies that can do this are often the ones that corner the market. For example, many furniture stores provide online portals that allow homeowners to get a realistic picture of what their products would look like in their living and dining rooms.
