If the thinkers at Buyologyinc.com are even close to right that
“at least 85% of human decisions are governed by the non-conscious (instinct, intuition, emotions & desires and memories & values). Over $80 billion is spent each year measuring the 15% that is conscious.”
and “Where you run an ad is as important – if not more so – than what the ad is.”
— Leading Brand Director, Spirits Company
then what does that mean for advertising? What location could be more personal and more valuable than a PURL or personal domain?
Its a big market!
NOW, to the subject of PURL’s and Intent. Lifecycle events are one way to monitor purchase intent with time driven needs.
Wedding key lifecycle. Lifecycle INTENT
Each year, approximately 2.1 million marriage licenses are issued in the United States as reported by the National Center for Health Statistics (“NCHS”) National Vital Statistics Reports. Consumers consider their wedding a once-in-a-lifetime milestone occasion and allocate significant budgets to the wedding and related purchases. Engaged couples must make numerous decisions and buy expensive products and services, including: wedding invitations, bridal registries, wedding gowns, wedding rings, caterers, photographers, music, flowers, honeymoons and more. In addition to the number of decisions engaged couples face, the fixed date and the emotional significance of the event intensify the stress. Accordingly, to-be-weds seek a comprehensive resource to connect them to the information, retailers, and vendors they need to plan their weddings. Because of its global reach and capacity to transmit up-to-the-second information, the Internet represents an ideal medium over which to-be-weds can easily access information and communicate with the widely dispersed providers of local wedding resources. The Knot provides a comprehensive solution for the needs of engaged couples by offering planning and purchasing information, interactive tools and a thriving online community at a single destination. The wedding market also represents significant opportunities for the retail industry. Engaged couples receive gifts from an average of approximately 150 guests, who spend between $65 and $115, on average depending on their relationship to the couple according to The Knot Market Intelligence 2010 Registry Study. Because items are selected by the engaged couple but purchased by their guests, couples can have a lower price sensitivity, and retailers are less inclined to discount registry products. Management estimates that the total registry and gifting market is over $10 billion each year, which includes completion of registry purchases by the couple that occurs after the wedding as well as cash gifts.
From local wedding service providers to major national brands, a wide variety of advertisers seek to reach to-be-weds, newlyweds, and new parents. Replenished on an annual basis, wielding substantial budgets, and facing a firm deadline, engaged and recently married couples are ideal recipients of advertisers’ messages, products and services. During the year prior to and the years following a wedding, we believe that the average couple will make more buying decisions and purchase more products and services than at any other time in their lives, forming important brand affiliations and loyalties. New couples, who form households both before and after their weddings, account for billions of dollars in new home, auto, insurance, home improvement, décor, and other spending every year. The Knot is uniquely positioned to identify this previously untargeted consumer group because our wedding planning sites The Knot.com and WeddingChannel.com attract nearly 80% of U.S. couples as early as twelve to eighteen months before their wedding day.
Besides moving in together and getting married, the other major milestone couples face is the birth of their first child. Of the more than 4.1 million U.S. births every year, 1.7 million are first-borns according to the NCHS National Vital Health Statistics Reports. Like planning a wedding or shopping for insurance, first-time pregnancy creates a tremendous need for information and products that is deadline driven. New mothers in the U.S. spend nearly $17 billion on their newborns according to the United States Department of Agriculture Expenditures on Children by Families, 2009 report. These expenditures include big-ticket items they are unlikely to buy again and can result in the formation of brand loyalties that may continue with the arrival of additional children. For this reason, new mothers are particularly attractive to marketers of baby-related products.
But its important to understand the funnel. ROAS (and LTV if tracked) should be the gold standard while CPA is one element of that.