Consumers access a website up to 4 times before making an online purchase, says RTB House
Posted: Tue Jan 21, 2025 3:21 am
The biggest retail event of the year is coming: Black Friday. Responsible for boosting e-commerce in November, the date presents companies with the challenge of well-structured Marketing, with prior planning actions that allow brands to ensure good results and stand out from the competition.
According to the “Black Friday 2023 Guide”, developed by global martech RTB House, 95% of website visitors do not convert on their first visit. On average, consumers need to visit the same website three to four times before they feel comfortable making a purchase. Retargeting campaigns alone – focused on sales conversion – reach 20% of consumers with the potential to buy from a brand.
What this number indicates is the importance of keeping a close eye on the top and middle of the sales funnel, so that it is possible to give visibility to the brand and engage potential consumers and, in ivory coast whatsapp data a medium-term strategy, generate more traffic to the website – which should gradually increase the efficiency of campaigns focused on sales conversion. In the middle of the funnel stage, it is also possible to look at the re-engagement of 'dormant users' – that is, those who have already made purchases via a given e-commerce, but sporadically.
What are the best strategies for betting on Black Friday 2023?
Internal data from RTB House shows that keywords on the last Black Friday were a quality criterion, which should be repeated in 2023. While data related to impressions and conversions registered a drop in relation to 2021 – reinforcing consumers' lower enthusiasm for the date last year – other KPIs, such as conversion value and average ticket, had a similar or better performance than that recorded in the previous year.
In general terms, what the data shows is that, despite the drop in impression values (-7.8%) and conversions (-50.3%), consumers who were actually aware and made purchases during Black Friday were willing to make higher investments: the average purchase price was 132% higher than the previous year – that is, those who bought on Black Friday in 2022 opted for more expensive items. For retailers, this meant a loss in the volume of engaged users in 2022, but, on the other hand, significant gains in conversion values and average price.
For 2023, in a more stable scenario and without another major event competing for consumer attention – as happened with the Men's World Cup last year, when Brazil debuted one day before the promotional date – the trend is for this year's Black Friday to be able to combine the best of both worlds: more people engaged and willing to make purchases during the date, together with the maintenance of high rates related to conversion value and average ticket.
Check out some tips on good practices and trends that the Guide developed by RTB House brings below:
The time to plan is now!
Market data shows that around a third (31%) of consumers start researching products for Black Friday at least three months in advance. For this audience, working on campaigns that promote a conversation with the brand or that facilitate the acquisition of products under more advantageous conditions can be a good strategy to position the business and build loyalty among a significant portion of potential consumers.
The brand needs to be in the consumer's mind
63% of consumers prioritize purchases from or advocate for brands that share their values and beliefs. Therefore, it is important to keep your user base warm in order to position your brand in the consumer's mind, especially in moments leading up to promotional periods.
Technology must be the great ally of brands in digital advertising campaigns
Internal data from RTB House showed that campaigns focused on sales conversion based 100% on deep learning algorithms are up to 50% more efficient in decision-making than those carried out with conventional machine learning. Advertisers report gains of up to 29% in the overall performance of campaigns and up to 41% in the efficiency of product recommendations to potential consumers.
Dynamic banners grab customer attention
On average, the attention span of a common human being is 8 seconds. Therefore, in the advertising context, dynamic banners that really stand out at a glance are a huge differentiator. Because they allow for different interaction formats, they are especially interesting on occasions when it is necessary to customize the content according to a specific situation, increasing the chances of conversion.
Ad personalization
Personalized experiences can generate up to 40% more revenue than those offered in a broad and generic way. With deep learning algorithms delivering the highest level of accuracy, it is possible to develop highly personalized ads, taking into account specific aspects of the product that interests the consumer (color, size, model, etc.), as well as sales arguments that are more in line with the user profile.
According to the “Black Friday 2023 Guide”, developed by global martech RTB House, 95% of website visitors do not convert on their first visit. On average, consumers need to visit the same website three to four times before they feel comfortable making a purchase. Retargeting campaigns alone – focused on sales conversion – reach 20% of consumers with the potential to buy from a brand.
What this number indicates is the importance of keeping a close eye on the top and middle of the sales funnel, so that it is possible to give visibility to the brand and engage potential consumers and, in ivory coast whatsapp data a medium-term strategy, generate more traffic to the website – which should gradually increase the efficiency of campaigns focused on sales conversion. In the middle of the funnel stage, it is also possible to look at the re-engagement of 'dormant users' – that is, those who have already made purchases via a given e-commerce, but sporadically.
What are the best strategies for betting on Black Friday 2023?
Internal data from RTB House shows that keywords on the last Black Friday were a quality criterion, which should be repeated in 2023. While data related to impressions and conversions registered a drop in relation to 2021 – reinforcing consumers' lower enthusiasm for the date last year – other KPIs, such as conversion value and average ticket, had a similar or better performance than that recorded in the previous year.
In general terms, what the data shows is that, despite the drop in impression values (-7.8%) and conversions (-50.3%), consumers who were actually aware and made purchases during Black Friday were willing to make higher investments: the average purchase price was 132% higher than the previous year – that is, those who bought on Black Friday in 2022 opted for more expensive items. For retailers, this meant a loss in the volume of engaged users in 2022, but, on the other hand, significant gains in conversion values and average price.
For 2023, in a more stable scenario and without another major event competing for consumer attention – as happened with the Men's World Cup last year, when Brazil debuted one day before the promotional date – the trend is for this year's Black Friday to be able to combine the best of both worlds: more people engaged and willing to make purchases during the date, together with the maintenance of high rates related to conversion value and average ticket.
Check out some tips on good practices and trends that the Guide developed by RTB House brings below:
The time to plan is now!
Market data shows that around a third (31%) of consumers start researching products for Black Friday at least three months in advance. For this audience, working on campaigns that promote a conversation with the brand or that facilitate the acquisition of products under more advantageous conditions can be a good strategy to position the business and build loyalty among a significant portion of potential consumers.
The brand needs to be in the consumer's mind
63% of consumers prioritize purchases from or advocate for brands that share their values and beliefs. Therefore, it is important to keep your user base warm in order to position your brand in the consumer's mind, especially in moments leading up to promotional periods.
Technology must be the great ally of brands in digital advertising campaigns
Internal data from RTB House showed that campaigns focused on sales conversion based 100% on deep learning algorithms are up to 50% more efficient in decision-making than those carried out with conventional machine learning. Advertisers report gains of up to 29% in the overall performance of campaigns and up to 41% in the efficiency of product recommendations to potential consumers.
Dynamic banners grab customer attention
On average, the attention span of a common human being is 8 seconds. Therefore, in the advertising context, dynamic banners that really stand out at a glance are a huge differentiator. Because they allow for different interaction formats, they are especially interesting on occasions when it is necessary to customize the content according to a specific situation, increasing the chances of conversion.
Ad personalization
Personalized experiences can generate up to 40% more revenue than those offered in a broad and generic way. With deep learning algorithms delivering the highest level of accuracy, it is possible to develop highly personalized ads, taking into account specific aspects of the product that interests the consumer (color, size, model, etc.), as well as sales arguments that are more in line with the user profile.