Monetizing online content has long been a pain point for many publishers. Given the noise and excess of stimuli that exist in the online world today, anybody that publishes content is trying their best to offer maximum value and find ways to keep people coming back to their website or app. When the website offers product information in any form, this need becomes even more urgent. This is where the power of Product Awareness comes in. Product Awareness is the capability to access rich, deep, and comprehensive product information in real time from the Web, sensors, and smart wearable devices. With this capability, every time a product is mentioned anywhere on the web, it can be connected to a relevant product offer enabling the consumer to buy it immediately.
Several businesses out there are recognizing this fact and starting to act on it. Allure magazine is trying to turn readers into shoppers by offering the capability to buy products from their website, especially the ones that they review. They realized that even though before they were allowing shoppers to “save” products that were featured on their website and mobile app, it ultimately drove them away as they scoured the web trying to find the products. Now by partnering with companies like Saks and Wal-Mart, they are saving their readers the trouble and reinforcing the strong relationship they already have with them.
I tried it and it’s quite convenient. Such an approach is likely to drive more sales as the reader knows that the review is impartial. As you can see here, you get a lot of information about the product itself – what it does, what are the key ingredients, what it feels like (this is especially important for consumers buying online), what are the benefits, how do you handle the drawbacks, etc.
Once I click on the ShopThis! button, a panel opens up at the bottom of the page telling me the price and also that it is shipped and sold by Walmart. The site also uses MasterPass, a service that lets people save their credit card information and make the checkout process faster and more efficient.
There are different ways to enable Product Awareness. There are companies like Kiosked and Prosperent that help publishers serve up relevant ads based on the content on their webpages. We’ve all heard about the buzz around Pinterest introducing a “Buy” button this year. Other social social networks are already enabling this feature too. The goal for everyone is to not have people leave their website trying to find a particular product, and increase the rate of engagement. Essentially, every touch point where a consumer interacts with a product needs to be shoppable.
Not only does it need to be shoppable, it needs to provide comprehensive information about the product so that the consumer can click the “Buy” button with confidence. As we access products through infinite channels, the easier that businesses make it for us to buy them, the better it will be for their bottom line.