Beth Thompson

5 key takeaways from Klarna’s “Disrupting Customer Acquisition for 2020”

We recently launched our Future of eCommerce series.

Since March 23rd, when the government announced official lockdown, everything has changed so significantly that speculation has continued to build around when and how the UK will return back to normal. The biggest question on retailers' lips is how can they prepare for when the world goes back to ‘normal’ or, indeed, IF it will go back to the ‘normal’ we knew before.

For this reason, we launched our webinar series where we explore with each of our key partners what the Future of eCommerce is starting to look like, and what we expect it to evolve into in the coming months. We were delighted to welcome Klarna to present the first session in the Future of eCommerce series.

Didn't have chance to attend? Here are the 5 key takeaways from Klarna's session:

52% of consumers are starting their shopping journey on a search engine, with the majority of the remainder going directly to the website of their favourite brands (Klarna, 2020), meaning now is the time that brands should be upping their investment in PPC, SEO and Affiliates. They are all incredibly important to make sure you are visible and in the front of the consumers' mind when they start their search.

But, how do you hit the ‘sweet spot’ with your consumers going directly to your site? It’s all about emotion. The brands that are getting direct hits to their website are creating memorable real-life experiences. The biggest subconscious urges are formed from emotional responses - if you create a memorable experience for your customer, while you may not get a sale right there and then, you’re almost guaranteed a sale at some point down the line. The most effective way to do this? Being funny. In Klarna’s study, 33% of all participants said that a brand campaign creating emotion through humour would encourage them to visit a website, and this increased to 40% in younger consumers.

Once you have driven the customers to your website, it's important to ensure the settings are exactly right to encourage conversion. A lot of website factors that used to be ‘nice to haves’ are now must haves when it comes to creating those perfect conversion conditions. If a website is slow or hard to navigate, the majority of users will go elsewhere. A recent study by Podium revealed that 93% of consumers’ buying decisions are impacted by reviews. This is particularly true where friends and family are concerned - word of mouth still prevails. Discounts and value for money also rate highly where conversion is concerned.

Retention and loyalty
We all know it’s easier and cheaper to get your current customers to convert, rather than to acquire new customers. The biggest factor in retaining your customers and creating a sense of loyalty is to lock in that love - remind them why they chose you in the first place. Creating experiences onsite or in-store for your current customers will keep them coming back time and time again.

In a similar theme, creating an army of brand ambassadors is key to gaining new customers and reminding current customers why they loved you in the first place. People really value the opinions of their friends and family, so if you can listen to the feedback from these people, and act on it accordingly, you will have an army of customers who will shout your brand message for you.

What does the post-Coronavirus customer look like?
A positive that has come out of such an uncertain situation is the dramatic shift to online that has been seen. The post-Coronavirus consumer is expected to seek lower price points, especially if we enter into a global recession - focusing only on essential spending. At this point, it's important to consider how we are ‘creatures of habit’ and are likely to adopt the new shopping habits that we’ve been forced into during this time period, to a certain extent at least. It’s expected that we will see more conscientious shoppers evolving in a post-Coronavirus world, looking for sustainability more than ever and showing support to local stores over some larger brands wherever possible.

If you missed the session (we know it’s crazy busy at the moment!) and want to access the webinar, you’re in luck! We’ve recorded it, and have made it available for anyone who missed out.

Request access to the webinar via the form below.

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