Unlocking the Moment that Matters Most: Insights from Rokt’s Doug Rozen
The Transaction Moment, from when a consumer completes their browsing, adds items to their cart, and is ready to check out is a magical moment in ecommerce. They’re zoned in, wallet in hand, minimally distracted, and in the buying mindset. Doug Rozen, Chief Marketing Officer at Rokt, sheds light on how this pivotal moment can be leveraged to drive greater relevance for consumers, retailers, and advertisers alike in his recent interview with Lisa Granatstein, editorial director of BeetTV. Rozen is a seasoned executive with nearly three decades of senior leadership experience at top global marketing companies, including dentsu, Omnicom, Meredith and WPP. Throughout Rozen’s career, he has been a trusted, go-to adviser in driving modern marketing transformation for some of the world’s greatest companies, and his expertise can help brands accelerate their marketing.
Leverage the magic of the Transaction Moment
While online retailers tend to avoid advertising during the transaction point in the customer’s shopping journey for fear of impacting conversion, this moment provides an excellent opportunity to connect with customers and drive more relevance and value for both parties. Rozen describes this, saying, “The moment that matters most in e-commerce is when somebody has done their browsing, done their shopping, and put something in the cart, and they’re ready to check out.”
This Transaction Moment is a unique opportunity to engage consumers when they are most interested in purchasing. This is mainly due to the fact that online shoppers are more receptive to relevant offers and upsells, having committed to a purchase, and therefore more likely to engage with additional relevant content. By engaging with customers during this moment in a relevant and targeted way, businesses are more likely to boost customer satisfaction, repeat purchases, and loyalty. Understanding and leveraging the buying mindset allows brands to present offers that are timely and meaningful, thereby increasing the likelihood of conversion and driving greater value for all parties involved.
Go beyond personalization to achieve true relevance
While personalization is an industry buzzword for marketers, it is simply no longer enough to impress customers. Just because a message is personalized with, say, the recipient’s name, and delivered at the right time doesn’t mean it’s the best message to put in front of them or that it will lead to the most valuable outcome. Relevance goes beyond personalization; it involves presenting offers that are meaningful and timely for each individual consumer. Rozen notes, “Relevance is all about striving beyond personalization. Sometimes the best ad is an ad not shown at all.” Understanding when to present an offer and when to hold back ensures that the consumer experience is seamless and unobtrusive.
To engage and convert consumers today, especially with more commerce-driven transactions, marketers must reconsider what is required given the full context of each person’s current buying behavior, interests, and tastes.
Move beyond impressions by focusing on value
Traditional advertising metrics like impressions often fail to capture the true value of a campaign. Rozen advocates for a shift towards metrics that measure value and action, such as cost-per-acquisition (CPA) and cost-per-click (CPC). “The best thing to determine that something is relevant is that there’s value, and that value comes through action,” he explains.
At Rokt, the focus is on understanding the value per transaction (VPT). This metric allows brands to see not just the volume of transactions but the meaningful value, such as customer loyalty and long-term profitability, generated by each one. By prioritizing metrics that reflect actual consumer engagement and satisfaction, brands can better understand and optimize their marketing strategies.
Enhance the ecommerce experience with Rokt
By leveraging real-time first-party data, Rokt can make split-second decisions about which offers to present. “We actually have real-time data from 30 milliseconds, not 30 days,” Rozen says. This immediate access to data allows Rokt to tailor offers that are highly relevant, increasing the likelihood of engagement and conversion. Furthermore, by focusing on metrics that reflect true value, Rokt helps brands optimize their marketing strategies and achieve better results.
Rokt is at the forefront of this transformation, helping brands unlock the full potential of the Transaction Moment. To learn more about how Rokt can enhance your e-commerce strategy, visit our Rokt Ecommerce page.