Insights to optimize the consumer path-to-purchase
It’s that time of year… annual campaign planning. Marketers are developing the messaging and creative strategies that they hope will break through the crowded media landscape on TV, programmatic digital, social media, podcasts, and the ever-evolving new mediums.
While advertising strategies continue to address the dual interests of growing brand and driving sales, stimulating purchase intent is important for both objectives. It’s imperative to go beyond traditional observable metrics like clicks and impressions to understand whether advertising campaigns are moving the needle for your brand in objective and measurable ways.
With greater media fragmentation and competition for more cost-conscious consumers, how can advertisers increase purchase intent for their products and services? Drawing on our Consumer Trends 2024 report, we’ll explore the following strategies:
- Test and measure campaign messages and creative for resonance.
- Prioritize the CX factors that matter most to consumers.
- Meet consumers where they are with cross-media strategies.
- Innovate the brand experience with new ad formats.
- Develop loyalty programs centered around consumer priorities.
But first… what is purchase intent?
Purchase intent is the extent to which consumers plan to buy or are willing to buy a product or service. Purchase intent is a key performance indicator (KPI) for marketing effectiveness in driving sales and revenue for a brand. Understanding the drivers of purchase intent can help marketers to refine messaging and optimize media spend.
Measuring purchase intent with a quality, first-party audience like DISQO’s empowers marketers with metrics to quantify the impact a cross-platform campaign has on consumers during the awareness and consideration stages.
1. Test and measure campaign content for resonance.
Campaign success hinges on developing creative and messaging that resonates with the target audience. Understanding how consumers feel about the state of the world and how that impacts buying decisions is essential to driving purchase intent.
Our Consumer Trends report found that people are very worried about 2024. A whopping 63% have a negative outlook - a number which increases among older generations and middle-income consumers. News headlines and social media chatter about global conflicts, global warming, and economic shifts have a tremendous impact on how stable and secure consumers feel.
While brands don’t need to address global issues in ads, recognizing where people are in the moment can carve a path to more resonant content. Marketers should consider messaging around value-for-the-money, empathy, and reassurance. Continuous measurement of campaign content can also help brands understand what’s actually driving purchase intent during uncertain times.
2. Prioritize CX factors that matter most to consumers.
Today’s consumers expect a good customer experience (CX). They want to feel cared for by brands, from the first ad that they see to post-purchase interactions. Investing in a seamless, positive experience will increase the likelihood of people choosing your brand when making a purchase while also fostering long-term loyalty.
What CX factors matter most to consumers in 2024? The survey says… value for the money (67%), quality (63%), trustworthiness (53%), and customer service (44%) are the most influential experience indicators. While social responsibility factors into the equation, it’s lowest on the priority list (21%). To capture consumer dollars, brands should heed the table stakes of product quality, customer service, and value.
3. Meet consumers where they are with a cross-media strategy.
Consumers engage with a range of advertising channels every day. They watch their favorite shows on TV or via streaming platforms, listen to podcasts, play a game, and scroll social media on their phone… sometimes all within the same hour. That’s why most campaigns today involve a cross-media strategy that endeavors to bring a cohesive and integrated approach to various channels.
When asked about which media channels were most influential in driving them to purchase, consumers favored television (43%), social media (41%), and websites (30%). Understanding consumer behavior across these platforms allows advertisers to create a consistent brand presence, reinforce messaging, and increase the likelihood of purchase intent at different steps in the customer journey.
Brands should capitalize on cross-media synergies based on where their target audience is most engaged to fuel purchase intent and behaviors.
4. Innovate the brand experience with new ad formats.
As streamers ramp up ad-supported tiers and new mediums like gaming and podcasting gain traction, consumers are sure to see more ads in 2024. Sixty-one percent (61%) of people said that their brand experiences are top influencers, so identifying new and better ways to engage consumers is essential.
Innovative ad formats, whether through interactive content, exclusive offers, or other tactics, will be a key brand differentiator. For example, CTV has introduced “Choose your own ad” experiences that allow viewers to decide which ad content they see, rather than serving up the same content to everyone. Of course, advertisers must delicately balance new tactics with considerations like frequency to leave a positive impression.
5. Develop loyalty programs centered around consumer priorities.
Loyalty programs are a long-term strategy directly impacting purchase intent. And, those centered around consumer priorities can significantly enhance the perceived value of a brand. But… what drives loyalty? Quality (66%) and customer service (53%) top the list with frequent discounts(37%) and perks (36%) not far behind.
Prioritizing these factors not only encourages repeat purchases but also fosters brand affinity. Additionally, the customer data access that loyalty programs enable is of increasing utility to data-constrained marketers as the third-party cookie further fades. With a strong program, brands can continue to learn about their customers and optimize their brand experiences.
Measure and increase purchase intent with DISQO!
Download our Consumer Trends 2024 report to learn how to drive purchase intent with the 2024 consumer and fuel the outcomes that matter most to your brand. Measure purchase intent with DISQO Brand Lift and add DISQO Outcomes Lift to your measurement program so you can also see the digital behaviors that are prompted by your ads. Used together, you’ll gain a holistic understanding of your campaigns’ effectiveness from brand building to performance.