What is "purchase intention" and how to measure it on the internet

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Purchase intent

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What is "purchase intention" and how to measure it on the internet

Purchase intention It is the probability that a consumer buys our product or hires our service, in a given period of time. And it is a basic metric for our conversion funnel.

Let's look at an example of purchase intent:

  1. A user enters our website for the sale of electronic products.
  2. Discover the category of single-use cameras
  3. Enter the product sheet

How likely is he to buy that camera? –> this is the purchase intent.

We need to know what percentage of the users who see this product sheet end up buying the camera… in the same way, we need to know what percentage of visitors to our website are potential camera buyers.

Why is it important to measure “purchase intention”?

The path that a consumer follows from discovering our brand on the internet, until they buy our product or hire our service is tortuous and complicated. In each step of the conversion funnel of our company, it is necessary to discover what the set of users who are part of the target audience of each step of the funnel will be like. The “purchase intention” is usually found before the final phase of our funnel and we must be able to measure it.

At the beginning of the funnel, to measure the interest in a product, we have metrics such as the "reach of a publication" (how many people have seen it on our website or on our social networks) or a little further down the funnel, the "interaction with one of the our publications” (also on our website or on our social networks) for example, people who have “liked” or people who have “shared”. But with these two metrics (reach and engagement), we still can't be clear about how many people have "purchase intent"...

How to measure “purchase intention”?

The "purchase intention" must be measured at the moment in which the user is faced with a real possibility of purchase. That is, in front of a product sheet. This will normally happen on our website, although if we have sales on Facebook or on another platform, we can also measure the "purchase intention" there.

Metrics to measure it

  1. Clicks to product sheets -> our website
  2. Clicks to the list of physical stores where our product is sold -> our website and social networks.
  3. Use and redemption of discount coupons -> redemption on our website, distribution of the coupons by the Influencers with whom we work.

Creating the Sales Funnel

With what we have commented, we could already create a simplified version of our funnel:

  1. Interest in our brand (measure: scope of publications)
  2. Interest in our products / services (measure: interactions)
  3. Purchase intention (measure: clicks on product page + store list + coupons)
  4. Purchase Initiated (measure: clicks in the shopping cart)
  5. Purchase completed (measure: effective sales)

I hope these tips have been useful to you. What is your funnel like? How many steps does it have? What do you measure in each step? Do you want me to take a look at it? We follow the conversation in the comments.

If you want to know more about metrics in social networks, here is this article in which I explain the 10 things you should measure.

Here you will also find another article that may interest you: I explain cHow to improve the conversion rate of your website.

If you still want more information, here is another article, this one written by Neil Patel about how to create a customer journey map, which will help you understand and apply the concept of a sales funnel.

I hope you find this information useful.

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