This article is part II of the previous blog post.
In part one, we highlighted the first 5 reasons to invest in a shoppable magazine – a content marketing solution with an editorial approach. We talked about how it makes your brand stand out from competitors and how it brings an emotional added value to your product, resulting in a 22% (or even 110%) increase in click-through-rate.
In this part, we will share with you some further benefits of using shoppable magazines. So if you believe in the power of content marketing and storytelling, read on!
Reaching out to “experience shoppers”.
Due to the fact that the shoppable magazine sells, first and foremost, an experience, it also reaches out to a different kind of audience, known as “experience shoppers”. These are people who don’t just want to “buy” — they want to be guided, educated and inspired, which is how they ultimately build a relationship with a brand.
Once they perceive the shared information (tips, advice, recommendations) as truthful, they come back to the shoppable magazine for as long as it provides them with experiential and emotional value. Which means retention gold. Once they come back, they become loyal readers. And once they become loyal readers, they become potential customers who genuinely believe in your product. And that’s something that 73% of brands cannot say about themselves, according to research by Havas Media Group (Source: The Guardian).
Higher retention rate.
Since we mentioned retention in the previous point, it should be noted that shoppable magazines have a 3x higher RPR (Repeat Visitor Ratio), also boasting an average of 4.5 minutes spent on the website — an impressive number, considering the fact that most users leave web pages within a mere 10-20 seconds (Source: Nielsen Norman Group).
Redefining the relationship between brand and consumer.
In the modern day and age, it’s not that easy to win over customers’ hearts anymore — people have serious trust issues with brands and advertising. According to Forbes, only 3% of people think that ads are an accurate description of products while the rest of the audience believes that they are exaggerated and untrustworthy. In regards to e-commerce, the overall trust issue is also a big headache: according to Baymard Institute and Business Insider, 68.53% of online shoppers don’t go through the purchasing process to the end, leaving approximately $4 trillion (!) worth of merchandise abandoned in their online shopping carts. Of course, this happens for a number of reasons, such as unsatisfactory shipping conditions, transaction security concerns, price comparison, etc., but in general, they all center around the lack of trust.
So in order to regain it, retail businesses must stop acting like a “salesperson” and start exploring different roles on the e-commerce stage. By doing so, they will diversify the brand itself and amplify the consumer experience, essentially killing two birds with one stone.
Take a look at the following graph to get an understanding of how diverse the brand and customer relationship can actually be:
By building relationships on different levels, brands get to have two important things in the end: an emotional bond with a consumer and better customer knowledge – and that alone, if used correctly, can completely transform the success story of your brand.
Storytelling — the basis of a durable relationship.
When it comes to redefining the brand and consumer relationship, content marketing finally finds its perfect niche. According to Content Marketing Institute, 77% of B2C marketers use content marketing, which has changed the way that e-commerce lives and breathes. Lately, in fact, e-commerce has been evolving into something different — content commerce. This is a $44 billion market that the shoppable magazine is effectively approaching through a very specific type of content known as storytelling.
When it comes to storytelling, it’s important to acknowledge the advantages that it brings into e-commerce: distinguishing your brand in the crowded marketplace, sharing values with customers, earning a captivated audience, among others. Eventually, storytelling is what turns online shopping from a superficial, mechanical process into something deeply interesting for people, since their emotional needs as consumers are no longer neglected.
People do not buy goods and services. They buy relations, stories and magic. – Seth Godin
So that’s about it! Higher click retention rate, emotionally engaged customers, deeper brand/customer relationships and expanding the customer reach – this is just a part of what a shoppable magazine can offer.