Window Shoppers and Trustmarks: The New Insights on Ecommerce
December 18, 2009 by Nate Winter
At the recommendation of a colleague, I read the new whitepaper published by security software developer McAfee entitled Digital Window Shopping: The Long Journey to “Buy” (which can be downloaded for free here).
In this document McAfee makes a number of points and backs them up with in-house and third party research. I’ll focus on just two of those points and offer some insights of my own.
Digital Window Shopping
This white paper points out the limitations in typical measurements of shopping cart abandonment. If an ecommerce shopping cart hasn’t resulted in a sale after about 24 hours, it is considered by most etailers to be “abandoned,” meaning the customer no longer intends to buy the products saved in the cart. McAfee’s research shows that the average shopper’s purchase process takes one to two days and may even take upwards of four days—meaning that to consider a cart “abandoned” after just 24 hours is a misinterpretation of customer behavior.
To address the discrepancy between traditional measurements of cart abandonment and the lengthening timeframe in customer purchase cycles, McAfee introduces the idea of digital window shopping. Like window shopping in the real world, digital window shopping acknowledges the consumer tendency to look at products without having an immediate intention to buy. If an online shopper puts an item in the cart, it doesn’t necessarily mean he’s ready to buy it at that moment-- he may just be browsing.
McAfee points out that during this phase in the purchase process, many shoppers visit a number of etailers looking to compare prices on the same product or similar ones. I think this time is also used to get peer feedback on the item prior to purchasing. Considering the state of our economy, this kind of research and double checking makes sense, especially on pricier items.
So digital window shoppers are not just trolling around aimlessly and they very well may buy. The challenge is that the window shopping phase comes early in the sales cycle, and, according to McAfee, etailers should wait up to 5 days before deciding the fate of a cart.
(Ironically, it took a McAfee sales guy only about 2 hours to call and email me after I downloaded the white paper. I hadn’t even read it yet. For more on this tendency, click here for my article Understand What You Brand about practicing what you preach.)
I think this is a valuable insight, but it may have already been identified and dealt with by some etailers. I’ve noticed a rise in “wish list” tools on a number of ecommerce sites, Guess.com being one example. On the site, shoppers have the option to add an item to their cart for purchase or to their wish list for “saving.” The wish list acts as a bookmark for quickly finding a product later, and also allows the shopper to send the list to others as gift ideas. As it applies to McAfee’s findings, I believe wish list functions can help etailers distinguish digital window shoppers from shoppers looking to buy immediately. This will reduce confusion about immediate purchase intent and provide greater information about the timeframe in which purchases are made.
And the wish list tool is very powerful for tracking gifts or other shopping suggestions, too. Think of it this way: if you email your sister a link for a sweater you want for your birthday, the etailer most likely won’t know that your visit to that product’s page resulted in your sister’s purchase. In fact, they may think that your visit to the site was unsuccessful and they may not understand why you abandoned your cart. But if you send her your wish list through the etailer website (instead of via email), the site can link the initial shopper (you) with the individual who actually purchased the item (your sister). This will help etailers more accurately identify where a sale begins and ends.
Now that’s a white paper I’d like to read.
Trustmarks
Closely related to the window shopping/sales cycle insight is the value of trust in ecommerce. McAfee’s research reinforces the presumption that the more trustworthy a consumer finds the etailer, the more likely she is to make the purchase. So what makes a site trustworthy? McAfee points out a number of these “trustmarks.”
According to McAfee, the trustmark that instills the most trust and results in higher sales conversions is its own “McAfee SECURE” icon. This finding was based on research McAfee conducted itself, so take it with a grain of salt. Other trustmarks that contribute to increased sales include the Verisign icon for SSL encryption, the Trust-e icon for privacy and the Better Business Bureau seal for reputable business practices.
You don’t need a bunch of fancy icons plastered on your site to instill shopper confidence. Honestly, I doubt that a lot of customers even know what these various icons mean. And yet they instill trust because people see them on a lot of sites.
In my experience, the most fundamental trustmarks are a phone number and an email address. It’s really basic, but a lot of sites forget about this. Put your email and phone number somewhere conspicuous on the homepage like in the header or footer, or on an easy-to-find contact page. Maybe even on every page. For some companies, it’s appropriate to give names and photos of key employees-- these things help too.
Ecommerce provides incredible convenience, but it comes with an anonymity that makes shoppers wary. Consumers want to know that there are real, honest people behind your website who they can reach out to. They may not need to call or email you, but there’s reassurance in knowing that they can.
What trustmarks matter to you on a website? What about “distrust marks?” What elements of a site make you want to take your business elsewhere?
Note: Pomegranate is highly experienced in developing ecommerce websites, and can offer all of the best-practice elements mentioned above. To learn more about how Pomegranate can create value for your business, please visit our website.
