June 10, 2014
It stands for I want, what I want, where and when I want it. I came across the acronym in #GIRLBOSS, Nasty Gal CEO Sophia Amoruso’s recently published book. Amoruso was using it in reference to human nature, and personally in regards to her hunt for the perfect job, but it struck me for a different reason:
IWWIWWWIWI is the perfect acronym to describe customer behavior.
There’s no doubt it describes how your customers ultimately make purchases, read content, or sign up for a service; because I want, what I want, where and when I want it is same as saying, “Give me a relevant, timely, and personal experience.”
Let’s face it, customer expectations are high; they’re becoming more focused (and, dare I say, demanding?); and that’s a good thing for you. Your customers are telling you exactly how to succeed.
Monetate’s newest Ecommerce Quarterly report (EQ1 2014), released today, points to a number of trends in the US, UK, and Germany that are specifically addressing the what, where and when parts of the puzzle.
If you’re wondering what they are, you can get our latest EQ here. Until you do, here are some highlights and ways to put the trends to work for you:
Traffic is down, but revenue is up
Simply put, less visits are yielding bigger rewards. That points to some pretty significant behavioral changes for your customer.
We’re used to thinking that customer research and evaluation before reaching your site is reserved for big ticket purchases. But as social and shopping channels increase, the big ticket threshold is dropping. By the time your customers visit your site, they’ve been exposed to something that piqued their interest, and are on a more direct path to purchase.
Put this trend to work: If more browsing is happening away from your website, make sure that when the customer is ready to buy, you’re making the process as frictionless as possible.
If they’ve arrived as a result of a specific campaign, for instance, make sure the message flows through the site. If they were referred directly to a product page by a social site, make check-out an obvious option.
By accommodating the focused buyer, you’ll only yield positive results. Amoruso quickly realized that the girls buying her vintage pieces were often coming to her site for styling advice, and left buying complete ensembles. By paying attention to one detail, she facilitated purchases, and a value-add service in the end.
The visual web inspires buyers
I know, I know, all of the web is “visual,” so let’s clarify this: the visual web comprises sites like Pinterest, Instagram, Polyvore, and Facebook. It’s no surprise that a lot of sites like this are developing retail-specific channels, passing vetted product information and pricing right to their site.
A merchandiser’s goal is to make products easy to find, evaluate, and, ultimately, buy. And those who do that job know that, short of putting a physical item in a customer’s hands, images are the best way to get customers to connect with a product. Your customers can start evaluating it before they even get their hands on it. As a result, they’re more likely to buy.
Put this trend to work: Adding social sharing or image heavy product listings can connect customers to a more visual process, speeding up the merchandising cycle and landing customers squarely at evaluation.
Nasty Gal started as a reference to a Betty Davis song, but quickly became what Amoruso called a feeling and community that lives in different places, but are unified by the spirit of a Nasty Gal. That feeling drives the brand, and flows through every garment, photoshoot, and mailing labels (yes, really). So think of your customer, who they are, what they want, how you can reach them over social, and connect it back to your brand.
Tablets move up the ranks
Marketers are taking two approaches to the mobile vs. tablet traffic war. One approach is to implement responsive design on their main site, the other is to make mobile-specific sites. The second approach is more relaxed, and in danger of falling behind. Why? Because right now, companies don’t consider mobile or tablets as holding a large enough share of overall traffic to create a separate experience.
Forrester predicts that tablet commerce will outpace mobile in the next 4 years; which means we need to reevaluate.
Put this trend to work: Responsive design and device-targeted website experiences will become more vital to your company in the long run, so why not start now?
A simple heat-map can show what areas are performing best for tablets, and can be developed into a personalized interface. Customizing menus, product displays, and checkout options can all ease the path to purchase. This is what Amoruso calls incremental potential—it’s any opportunity for your business where you can “tweak and grow” to adjust with the market.
Ecommerce is so detail-oriented that starting small and iterating will get you to a solid end result. In this case, that’s experience no matter the device.
So take IWWIWWWIWI to heart, and give your customers what they want, where and when they want it—after all, it’ll only help you in the end.