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, its key trends and how Discovery Commerce can boost 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 V2.
Instead of waiting for the buyer to search for a product, the retailer predicts his 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 is in fact a blend of 2 to do’s: collect user data in order to present the most relevant products to the visitor and at the same time making sure (s)he can convert as seamless as possible on the moment of inspiration.
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.
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.
Whilst all platforms are investing heavily to ensure that a purchase on social can be done as seamless as possible, you should avoid to be dependent on social media for actual sales. The combination of a limited exposure of native content (less than 10% of your audience will see your post) and the rising prices on paid advertising on social does even allow you to be sure that you’ll even
Th biggest impact social media made, is that it changed user behavior: we have become very demanding towards what we experience as inspirational content and the easiness of purchasing an item. Every click, every new page is a Mount Everest where you lose sales.
By using our add-to-cart template, users can send products to the cart with just 1 click whilst never stopping the content experience.
2. Shoppable Videos
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.
But only producing interactivity for a more optimal conversional funnel is only half the trick.
Today lead generation on a website happens very functionally, loose from the inspiration.
You can use the same interactivity to transform every content on your website into a lead gen item by allowing users to convert and share their details during the content experience itself.
This particularly works well with automotive (booking testdrives with 1 click), fashion (pre-reserve clothing that is not yet available), discounting and/or Easter Egging within your webcontent.