Marketing with Wharton's Hip Hop Prof
The Twisted Path to Purchase is filled with Device Switchers-How Marketers Can Connect With These Customers
In 2009, only 1% of all traffic to websites resulted from mobile devices. Today mobile devices account for more than 50% of traffic, BUT the startling fact is that today only 1% use their mobile device to purchase, the same as in 2009.
P.K. Kannan, Dean’s Chair in Marketing Science at the Robert H. Smith School of Business at the University of Maryland, sits with Americus to discuss these facts along with additional attribution analysis he has completed regarding consumer’s path to purchase. Some of the findings from P.K.’s analysis include the underestimation of the power of email marketing. He has found that with email, the conversion power lies later down the road. In addition, his research has identified the device switchers, those researching on their mobile devices then purchasing on their desktop, have a 70% higher conversion rate than those who just use mobile or just their desktop for research and for purchase.
P.K. and Americus also discuss how companies can leverage this data, using identity management (tracking their customers across different devices) then retargeting these consumers at the right time seamlessly. Privacy and product category also impact the conversion rate. P.K. notes that the higher the perceived risk a consumer has with retailer and with a product category (usually a higher cost category), the higher the likelihood that they follow this device switching pattern, concluding that today consumers find security within the comforts of their own desktops.