Winning Share of Wallet

Strategies to winning the consumer’s attention and ultimately the sale.

Strategies to Win Share of Wallet During Key Shopping Moments

The consumer journey is a fundamental pattern that marketing and advertising strategists use to drive results. Shoppers today are inundated with influence and information coming from mixed media. What was once a direct shopping journey has been made an exploration, with the ease of access to information.

As a result, advertisers must find ways to influence a sphere of customer journeys that lead to their brand and products. How?

1. Aim to reach people, not personas

Target people who are exhibiting signs of being in-market for a purchase. Typical strategies attempt to identify trends using a data set customized to their unique business. Understanding the indicators of a motivated shopper is not easy, but when done right enables marketers to close the sale.

2. Deliver a quality experience

It is key to ensure that the experience of your brand is high quality to make the shopping experience as seamless as possible. An easy experience is critical to building a base of brand loyalists.

3. Always stay credible

The multiple touchpoints between a brand and a shopper are each opportunities to build trust. To help, strive to anticipate consumer apprehensions and then address them during the shopping journey; ensuring that the message behind your brand is cohesive will help consumers make an informed decision that they can feel good about.

4. Identify your moments

While it is easy to identify that a prospect is actively searching for your product online, it is not always easy to understand where the shopping journey started. The desire to make a purchase can stem from a moment not directly related to the product – understanding these moments enables marketers to double-down on what is working.

People make deliberate decisions about shopping, weighing many individualized factors to make their choices. With abundant information available online, it is now the objective of the advertisers and marketers to generate a holistic strategy that caters to the fragmented journey outside of their own digital properties.

Gaining a view into the activity and actions of a consumer requires insight about their daily lives outside of interactions with a specific brand environment. In addition to making great content, it must be delivered to consumers at a time that matters to them outside of the traditional shopping journey. A prospective consumer that discovers content should be able to relate to the content as well as find it useful and trustworthy – keeping the brand top of mind for a purchasing decision.

How can Drop for Business help?

Many marketers are partnering with companies that specialize in connecting consumers with products and services that are specific to their needs. Drop for Business has over 5 million members that receive their own tailored content which is most relevant to their lives. Members choose to share their shopping behavior with Drop in exchange for Drop points, ensuring a clear exchange of value and maintaining trust between the member, Drop, and our brand partners.

With this data, Drop for Business is positioned to segment, target and tailor content to meet consumers at these unique key shopping moments and ensure an efficient conversion of lapsed shoppers while maintaining a healthy relationship with loyal shoppers. By maximizing this strategy, marketers are able to promote customer loyalty as well as attain more customers, thereby increasing share of wallet.