YP Uncovers Key Factors Motivating Consumers to Purchase with “The Why Before The Buy” Research Study
In late 2015, we released an eye-opening research study that underscored an interesting trend in consumer behavior, one that continually saw consumers “zigzag” between devices, platforms, and the online and offline worlds as they make purchase decisions. However, one question that lingered for us was: what actually gets a consumer to stop along that zigzagging path to purchase and actually make a purchase?
That’s just one reason why we’re excited to unveil “The Why Before The Buy”℠ research study today, conducted on behalf of YP℠ by our friends at Thrive Analytics and the Local Search Association. Not only did this study examine what factors influence a consumer’s willingness to buy, but also, and perhaps even more importantly for many small business owners around the country, what factors actually discouraged them buying altogether.
A few of the key findings of the study include:
- Consumers are heavily motivated to purchase via basic information like price, product availability, and location, as well as contextual information, including offers, ratings, reviews, and more.
- Approximately a third of consumers will continue their search elsewhere if a business does not have a strong online presence, including inaccurate information on its website, inconsistent information across business listings, and negative ratings and reviews.
- More than half of consumers are turning to mobile at some point during their path to purchase for the smartphone’s unique ability to map to a nearby location and to click to call a business.
What became abundantly clear, as the data started trickling in, was that businesses, small and large, were consistently missing out growth opportunities by not having a strong online presence. However, as more consumers begin turning to their mobile devices to complete even the simplest activities of daily life, it’s become incumbent upon businesses to ensure that every piece of information about them online must make it quick and easy for consumers to transact in real-time.
Categorized in: Research and Insights