27% UK consumers start researching their mobile phone months before purchase
Although the global smartphone market is bigger than ever, many developed markets are in retreat. Based on our last data analysis, in the UK, consumers seem to be in no rush to buy new handsets and they can take months to complete a purchase. When people replace their phone, then they will compare features and choose what is important.
In these early research moments, the Brits are looking for detailed phone features, price comparisons, and promotions to reassure their decisions – or possibly convince them to switch. This is the time when new options surface on their radar. The ways consumers interact with brands are heavily influenced by where they are and the immediacy of their needs. Marketers must understand these different kinds of behavior if they are to boost their chances of converting a sale.
Nearly 65% of consumers consider between 1 and 2 brands before the product purchase and the biggest factor in their purchase decision for 39% of consumers is their contract renewal/upgrade with their telco operator, which usually means these consumers consider buying services in a bundle. For handset brands, this should be an alert and concern to consider in their digital roadmaps as the average sales cycle of a mobile phone purchase in the UK.
This is why it’s important to figure out the average sales cycle of a product based on market and audience research to affect consumer behavior in a more profitable way for a brand. Based on this analysis, the handset brands can identify properly what the resources and distribution channels they need to consider in their marketing cost structure to generate ongoing customer relationships to shape the shopping experience to maximize the chance of a sale.