If you’re not leveraging the power of the transaction moment your ecommerce business is likely missing out on some additional profit. This ‘moment’ is critical to understand and utilize in ecommerce… but what exactly is it? Essentially, it’s back to basics. If brands want messages to inspire action, they must connect with consumers when they are most engaged, receptive, and happy. Enter: The transaction moment .
The most important factor to note about the transaction moment is that it isn’t just a moment in time; it’s a mindset. More specifically, it’s a frame of mind where consumer interest, buying intention, and engagement peak — typically as individuals finalise their purchase decisions, continuing to order confirmation. Or, put simply, it’s the pinnacle of digital happiness. This is the exact ‘moment’ brands need to be optimizing, either to drive additional profit, promote internal offers, or acquire new customers. While traditional channels like search and social offer benefits, the transaction moment is unique in that it allows brands to connect with customers while they are in the buying mindset, one with minimal distractions, and while they are most receptive to messaging.
The transaction moment for acquisition marketers
Rokt’s research supports these claims, finding that 74% of global consumers surveyed agreed that purchasing is the happiest place online. Almost three-fifths (58%) are also likely to be multi-tasking while on social media, decreasing to 51% of those researching possible purchases, and down to only 39% for consumers when completing a purchase.
The transaction moment for ecommerce teams
Personalization in ecommerce drives better business outcomes. Rokt’s research shows that 56% of global customers are more likely to spend more with brands that tailor experiences for them, with 68% saying they are more likely to join a loyalty program with a brand that delivers relevant and personalized experiences.
Simply said, it’s a vital opportunity for ecommerce brands to connect with customers, existing or new, who are actively buying online. Leveraging data and machine learning to surface the most relevant and personalized experiences, products and offers to each individual has been seen to increase profits by over 50%. Despite this opportunity, many brands have not yet taken these necessary steps.