Discovery Commerce enables a brand to go beyond their conventional marketing steps by helping their products look for people instead of people looking for products.
Read what discovery commerce is all about, the key trends of discovery commerce and how it can help you to uplift your sales.
What is Discovery Commerce?
Discovery Commerce is a newcomer to the world of E-commerce. Finding the proper comprehensive definition of this new type of commerce isn’t easy. Nevertheless we will give it a try: discovery commerce is based on a different approach: impulse buying.
Instead of waiting for the buyer to search for a product, the retailer predicts the buyers’ needs by recommending a product that catches his attention based on previous purchases or searches.
The idea is to present products based on their purchase history, web searches and different interests while using data collected via advertising and leveraged through AI and machine learning. Instead of in traditional commerce: it is the customer who finds the right product, yet discovery commerce reverses the process: it is the product that finds the right target. It combines dynamic/programmatic offering to each visitor with an improved conversion funnel allowing that visitor to instantly convert to sale within the content itself: actual conversion on the moment of inspiration based on only 1 click.
In either way displaying content and products that are somehow related to a customer’s specific lifestyle, your brand can generate interest in products the shopper didn’t know about. So it becomes easier for shoppers to move through the various funnels.
Surely showing the right products for each specific customer is not a simple task. Although, tools and machine-learning software that use AI can help you accomplish this. These tools can collect a lot of information and data about what a browser would like to view.
How can Discovery Commerce boost your sales?
The question you have to ask yourself is: “how have shoppers found the right products they want to buy in recent years? And furthermore: “how do products find their ideal customers?”.
There are numerous channels and different touchpoints for consumers to get product ideas and inspiration for online purchases. There are three main trends that we can expect to grow even more in 2022:
1. Social Commerce
Social media platforms have come a long way since the introduction of the Facebook Marketplace in 2007. The fusion of Instagram and Facebook, the blossoming of influencer marketing, and the launch of Facebook and Instagram shopping allow users to buy directly from content, and from the same browsing experience.
Brands and retailers can post their stores on Facebook or Instagram, and Pinterest lets them tag content through shoppable pins, while TikTok creators can add a shopping tag to their profile: buyers can buy content shared on social media channels with one click.
Besides adding a tag, you can never underestimate the power of influencer marketing. The power comes from the high trust an influencer can build with her followers and the fact that it can recommend products based on mutual interests and beliefs.
Find out more how you can combine Spott interactivity with social platforms like Facebook, Instagram, (+20% CTR with in interactive content link behind it) YouTube (CTR >2% CTR per published video on YT) and Pinterest (87% of people having a Pinterest account purchase a product because they saw it on Pinterest).
Check out the
2. Shoppable Video
Shoppable content, or “shop the look” content is also particularly effective with online fashion brands or home deco brands. Videos that are shoppable consists of embedded links that enable viewers to purchase products through a single click by simply clicking on an area of the video.
They replicate the typical ecommerce website experience, but make it more convenient for customers.
Not only this, shoppable videos support the entire customer journey and enable brands to engage with their audience more effectively. Shoppable videos are a great way to simplifying the buying funnel for customers as it reduces the number of steps a consumer needs to take to buy a product.
With that said, it also offers uncapped ROIs, greater conversions, and valuable performance insights you can’t obtain otherwise.
Check out how Colruyt was able to uplift its average order value with +19% using interactivity.
But using interactive video only to uplift your conversion, it missing out the half of the upside.
Instead of having only 2 places where you can ask for contact details, you can now add it to every video, image and PDF on your website directly ankered within the content experience itself allowing users to convert on inspiration.
This works well for testdrives (automotive), pre-reservations as a teaser for upcoming collections (fashion, home deco) or exclusive perks through Easter Egging (all segments).
Check out how DPG Media was able to uplift their uplift their CTR with more than 40%.
3. Online PDF
Nowadays, most initial discoveries of products take place online first. In addition, companies need to be more environmentally friendly and sustainable.
Therefore, many brands have chosen to throw away printed catalogs and switch to online catalogs.
Those who browse through these online catalogs discover more about a brand’s story and products in a familiar way and can shop directly from the content itself.
Check out how ZEB was able to achieve an 88% (!!) interaction rate on their content and improving their add to cart rate with +7,82%.
Start with discovery marketing today and let Spott help you!
We see discovery marketing as an evolution of content: an alternative way to store online, aimed at people who are just looking around. Actually one could say that discovery marketing is the evolution of content marketing.
Shoppers who are not yet thinking about purchasing an item, or who need inspiration, are guided by discovery commerce, for example with rich media, shoppable content, recognizable influencer posts, or curated product collections.
Customers discover new products on the top of the funnel, something a webshop alone often struggles to do.
That’s why discovery marketing is an essential part of executing a successful marketing strategy. In fact, if executed well enough, brands can achieve more views, followers, shares and ultimately higher conversion rates.
Spott can help you with uplifting all types of content by making it interactive and shoppable. After you made your content shoppable you can publish it on your website and all your socials. This will allow your visitors to instantly convert during the moment of inspiration.
