While it may seem just a few short weeks ago that we were sharing our digital marketing predictions for the year ahead, we’re already closing in on the end of the first quarter. So far, 2020 has proven to be action packed with an abundance of research shedding new light on consumer trends and important tactics such as online reviews and at least one major algorithm update.
To ensure that you haven’t missed anything that could help you elevate your marketing activity, we’re recapping the major events right here. Read on to get right up to date…
Trust is taking the place of customer service for some consumers
Research has revealed that consumers are increasingly putting a high price on trust with a study carried out last month suggesting that US consumers now value trust above customer service.
The CMO Survey found that 27% of US marketers now believe their consumers placer higher store in trusting relationships with suppliers than they do service excellence This is a very new trend with the shift towards trust only taking place in the last six months or so – the August 2019 edition of this research found that service levels were the bigger priority for consumers.
Interestingly, the findings also showed that shoppers are now less concerned about being offered the cheapest price, with just 10.4% of respondents saying this was a deciding factor, versus 17.6% in August.
Digital payment technology to become more widespread
You may have read a few news headlines this year about the move to a cashless society and the need for our ATM machines to be protected – this might have seemed a little OTT but, data from FIS Global suggests that digital wallet transactions both in store and online are soaring.
The latest figures show that in 2018, 16% of in-store transactions were paid for using a digital wallet such as Apple Pay. Fast forward to 2019 and that number had soared to 22% – and it is expected to go higher still during the course of 2020. Online is a similar story too, with digital wallet payments forecast to account for 52% of all ecommerce payments by 2023.
The clear takeaway from these figures, whether you’re exclusively an eCommerce retailer or have a bricks and mortar presence is that digital wallet must now be offered as a payment option for customers.
Microsoft Ads launches in-market audiences
In January, Microsoft Ads announced that PPC advertisers in the UK, USA, Australia and Canada would be able to use in-market audiences to better target shoppers. An in-market audience is a list of customers who have shown ‘pre-intent’ purchase signals including previous clicks on similar ads or via search. The list of potentially relevant customers is curated by Microsoft for the advertiser, with the ad manager then able to edit settings such as ad bids to target those curated audience lists. The lists help advertisers to generate a better ROI by giving direct access to those shoppers more likely to be ready to convert based on their previous behaviour.
Mobile-first indexing rolled out to the whole web
Earlier this month, Google said that it would now apply its mobile-first indexing methodology to all websites from September of this year. It says 70% of sites represented in search results have already adopted a mobile-first mentality, so within the next six months, all sites will be moved to mobile-first indexing.
Google says web masters may notice an increase in crawling activity when a site is switched to mobile-first indexing but, this can be double checked within Search Console.
Is Thursday a sales hot spot for eCommerce?
A review of 2019 sales data seems to indicate that Thursday is the busiest day for eCommerce sites, with around 15% of the week’s sales taking place then. Surprisingly, this is around three times higher than the volume of sales registered on a Saturday – which actually had the lowest number of transactions through the week.
The peak time for online orders was also found to be 9pm, with the 21st of the month the day least likely to generate sales and the 29th of the month the best day overall thanks to payday-inspired purchases.