Coupons and cashback convert within a day; Search and social builds the brand over six weeks
The majorityof sales driven by coupon and cashback offers complete within just twenty-four hours, research has today revealed. According to CJ Affiliate’s Cross-Device Intelligence Report, which examined cross-device purchases, 64 per cent of coupon publishers and 54 per cent of cashback publishers saw conversion in this period, compared to content, search and social publishers, where almost half (42per cent) saw conversions between eight and 49 days after the last click on a promotion.
“On average, cross-device purchases have a 23 per cent higher order value than single-device purchases, but clearly, not all publisher strategies have equal ‘sales velocities’,” commented Owen Hancock, head of strategy, CJ Affiliate. “Coupons and cashback get quick returns but must be worked with differently to build brand value. Comparatively, search, social and content campaigns have a longer payoff period, but often create a longer-lasting, more memorable impact on consumer buying behaviour.”
The study also examined consumers’ preferred devices and days of the week for making purchases. Unsurprisingly, weekends saw more cross-device sales, with smartphone shopping highest on Fridays and sales on tablets peaking on Sundays. Finally, the greatest number of cross-device sales completed on a desktop occur on Tuesdays, while Saturdays and Sundays see the least number of these kinds of purchases.
“With smartphone shopping reaching its peak on Fridays, it seems that many consumers are revelling in some celebratory end of week purchases, with relaxed browsing happening on tablet devices on Sundays. Similarly, having made it through Monday, a spot of retail therapy on work PCs on a Tuesday may be how a lot of us make it through the start of a new week! Whatever the reasons for buying, these insights highlight the best times and the right devices for marketers to engage with their customers, ensuring they maximise on those high-converting days,” Hancock concluded.