Latent intent refers to a hidden or dormant desire to purchase something that a person may not be consciously aware of. It means that while someone doesn’t initially plan to buy a product or service, their interest or intent can be triggered by exposure, marketing, or external influences.
For example:
A person walks past a coffee shop without intending to buy coffee but smells the aroma, sees an ad for a special offer, and decides to buy.
Someone scrolling through social media sees an ad for a new gadget they weren’t thinking about but finds it appealing and purchases it.
In essence, latent intent is the potential to buy, activated by the right stimulus.
Approximately 60% of products are sold to people who initially had no intent to buy but were influenced by marketing, promotions, or simply exposure to the product. This underscores the significant role of advertising and strategic product placement in turning latent intent into actual purchases.
Active Intent Purchases: Studies suggest that, on average, 10-20% of consumers actively seek a product or service when exposed to it through targeted marketing.
Latent Intent Purchases: Exposure to marketing can activate a latent desire to purchase in an additional 30-50% of consumers, depending on the appeal of the product, the effectiveness of the advertisement, and the context of the exposure.
Overall Purchases: It is estimated that up to 60-70% of purchases in certain markets come from consumers who initially had no clear purchase intent but were influenced by advertising, discounts, or other promotions.