Think about the last time you bought something online. You knew you had a need; so you researched, compared prices (or just headed over to your favorite retailer) to pick out the right item. You threw that item in your shopping cart, filled out your payment information, and…bam! Purchase confirmed, and it’s on the way.
When we buy things, oftentimes there’s a “rush” of excitement – the term “retail therapy,” or shopping to improve your mood, didn’t come from nowhere. And research from transactional marketing platform Rokt may even put some data behind it.
Eight out of 10 consumers Rokt surveyed agreed that point-of-sale was one of the “happiest moments online.” It’s also a time when consumers are the most engaged with your brand, because they must enter in information to confirm their purchase and complete the buyer journey.
Or, that particular buyer journey. For marketers, point-of-sale can be the gateway for building better relationships with customers through related offers and loyalty opportunities. A combination of data, content, and delivery, based on intent, can help marketers get started.
Opportunities for new offers
Once a purchase is completed, shoppers are typically taken to a “confirmation page.” This is where consumers can review their purchase details, and any other information related to their transaction. A transactional email that acts as a digital receipt typically follows suit, or, if a consumer opts in, a mobile text message, or SMS.
The confirmation page, and other follow up communication, is prime real estate for offering related products or services that could complement the immediate purchase.
“The mindset on the confirmation page presents a unique opportunity unlike any other stage of the transaction journey,” Geoff Smith, chief marketing officer, Rokt, said. “The potential data you have on this customer is extensive, as is the opportunity to capture them in this ‘buying state of mind.’”
eCommerce brands are in a unique place for first-party data collection. The nature of shopping online demands input of personal data that consumers are willing to give in exchange for shipping and delivery services. Types of first-party data typically collected are:
- Who a customer is
- What they just purchased
- Past purchase history
- Payment preferences
- Loyalty card member status
- Lifetime customer value
“This data, if used well, can be immensely powerful and should be used to determine what the next best action is for that individual customer,” Smith said.
Marketers can translate relevant insights to chart the proper course of action and deliver new offers that are exclusively relevant to different audience segments.
Adding context to confirmation page offers
Providing the right types of offers is key here. It’s not about inundating a customer with deals – it’s about showcasing the right ones.
“On the confirmation page, it is much easier to employ contextually relevant offers as you have intimate knowledge of who the customer is and what they just purchased, “Smith said. “If they just bought an airline ticket, what’s the next best action that you want them to do?”
Situations will vary depending on the nature of the prior transaction, and the level of engagement a customer has with the brand. For example, brands may want to offer new customers different discounts or incentives than to loyal, high-spending customers, who are more likely to spend with the brand without a coupon.
“This can tie into marketers’ business goals, from driving immediate value (things like a related or complementary products) and/or long-term value, like downloading a supporting app, or signing up to a loyalty program,” Smith said.
Applying a data-driven strategy
Ultimately, data should drive this type of decision-making, Smith said.
“The good news is, by the time the customer reaches the confirmation page, there’s plenty of it to use to determine what additional messages or offers should be used,” Smith said. “Data is key to driving personalization and relevance, which in turn powers performance.”