Consumers Thinking Long and Hard Before Purchasing Online, Study Finds
Consumers are taking longer to make purchases online because they're doing more and more research on products, according to a new study released today from customer acquisition firm NetElixir.
The study is based on continuing research from 2008 on paid search programs for 32 large retailers. Since 2008, the time between the first click on a paid search ad and purchase has increased 12 percent. The average number of clicks on a paid search ad before an actual purchase has gone from 2.7 to 3.1. What's more, 52 percent of searchers, compared to 30 percent two years ago, have visited another site before making the purchase.
“Post-recession consumers are establishing a new normal in which impulse click-buying may be becoming a thing of the past,” said Udayan Bose, CEO of NetElixir, in a company press release.
Because consumers are taking more time, being more cautious and researching products before they buy, marketers may need to modify their campaigns and measurement methods, as this data can alter the success of their advertising efforts. The study recommends marketers do the following to improve their search engine marketing effectiveness:
- extend conversion windows to capture long-tail conversions and maintain conversion rates;
- ensure bidding strategies incorporate latency effects; and
- reassess keyword portfolios to assure that retailers are showing up on the right keywords at the right times.