From browsing and searching to comparing prices and viewing media, buying journeys now happen across multiple devices. 35% of conversions, in fact, happen on a different device than the one the consumer began the journey on. In a report published earlier this year, Criteo says that nearly one-third (31%) of transactions now involve more than one device1. That means if your company measures conversion rate, acquisition cost or other key metrics through a single-device lens, you may be susceptible to inaccurate measurement and distorted analytics.
Here’s one example: with a cross-device view, consumers convert at 1.4x the rate compared to a single-device view2. That means many of the users you may have assumed abandoned their journey prior to purchase, actually converted on a different device. If you had sent any of those customers an abandoned shopping cart email or a retargeting ad, they may now be frustrated since they already completed the purchase.
What about the time it takes for a user to convert? It turns out that conversion takes 41 percent longer to happen when measured through a user-centric view3. That means your consumers are spending a longer period of time in the consideration phase than you may have thought, and consequently you have more time to engage them during their journey.
These stats illustrate the shortfalls of the device-centric view, and why brands must embrace a user-centric view to understand paths to conversion. It seems obvious that consumers don’t want to see ads for products they’ve already purchased, or duplicate ads for products they are not interested in, but how do you provide that connected experience -- with relevant information on the right device at the right time -- that consumers now expect?
One approach is to adopt an identity solution, such as The Tapad Device Graph™. This technology uses a mix of probabilistic and deterministic methods to identify relationships between devices in your platforms and find new devices that belong to your consumers. Knowing all the connected devices for a given user enables you to distribute brand content more widely and with greater precision. It will also help you know which devices belong to which consumers and households, so you can maintain a user-centric view across media and measurement activities.
An identity solution should be flexible and scalable, so you can focus on working with the data rather than learning a new platform. Look for one that uses batch files or a real-time API to ensure you always have current data without having to do a lot of maintenance work. With this cross-device data integrated directly into your technology stack, you can begin to see the complete picture of your consumers across your marketing programs.
To learn more about how Tapad powers client success, visit us at www.tapad.com.
1 The State of Cross-Device Commerce, H2 2016. Rep. N.p.: Criteo, 2017. Online: http://www.criteo.com/resources/cross-device-commerce-report-h2-2016/
2 Stein, Eric. "5 Stats from Criteo’s Latest State of Cross-device Commerce Report." Mobile Marketer. N.p., 16 Mar. 2017. Web. 05 June 2017.
3 "Around 41% Online Transactions May Be Inaccurately Measured: Report." Digital Media Marketing News. DMA News Desk, 07 Apr. 2017. Web. 02 June 2017.