Ecommerce Marketplaces Versus Social Media: On Owning the Customer Journey
The rise of ecommerce marketplaces have significantly altered the customer journey by combining awareness, consideration and purchase in one fell swoop. But despite this increase in efficiency, brand marketers still need to develop different strategies depending on which platform or marketplace they are using, according to a column in AdExchanger from Seraj Bharwani, Chief Strategy Officer at AcuityAds.
In the case of marketplaces like Amazon, Walmart and Target, the advantage is increased sales and a streamlined customer journey beginning with search and ending in purchase and delivery. However, the ability to capture customer data is limited and the brand-building experience is owned by those platforms rather than the brand itself.
Social media platforms, including Facebook and Pinterest, now offer shoppable features. Since this enables brands to initiate direct-to-consumer relationships, there is a greater opportunity to cull customer data for future purchases beyond impulse buys. However, brand safety and accessibility across certain industries, such as healthcare, are challenges.
The customer journey across the open web can be significantly shortened for big-ticket purchases. But to make headway, brands need a strong direct-to-consumer relationship, consumer data tracking, CRM systems and more to successfully guide the consumer through the process. For more considerations on maintaining a frictionless customer journey, read on in AdExchanger.