Thoughts, Ideas, and Revelations from Forrester Marketing 2016 and Mcommerce Summit
Imagine sliding a report across the desk to your boss outlining how customer acquisition counts are through the roof and the cost to acquire a new customer is at an all-time low
Average Order Value (AOV) is a Key Metric, But If It's The Only One You're Using, You May Be Missing Out on Opportunities to Grow!
Consumer Packaged Goods companies are navigating a time where ecommerce is growing more popular than in-store experiences. But when your business model and KPIs are tied to store shelf sales, how can you get your foot in the door with the ecommerce community consumers (increasingly) depend on?
The customer journey is no longer linear. While some consumers opt-in to an email list the first time they visit a site when they’re still in the awareness or consideration phase, many others subscribe during the checkout process – either online or at your physical location.
Cross-device identification lets you collect customer browse and purchase data across multiple devices, and then use that data to personalize cross-channel campaigns.
On-site conversation rates can be broken down into two parts: product-to-cart and cart-to-checkout. Industry averages tell us that product-to-cart conversion rates average 8.7% while cart-to-checkout averages 25-30%. Overall site conversion rates average 2.5%.
Programmatic marketing delivers on the promise of engaging site visitors on an individual level after they browse your site. This greatly expands your marketing reach as the messages don’t depend on email addresses or mobile numbers.
Understanding a few key cross-functional relationships can greatly impact your retail Acquisition, Conversion and Retention efforts. Valuable strategies and tactics come to light when information is shared among your key commerce-driven teams that should include, but not be limited to, Marketing, Merchandising, Buying, Planning, Operations and Design.
There is no doubt that the retail landscape is going through drastic changes fueled by customer interaction and expectations as well as readily available technology and actionable data points.
I recently had the privilege of attending two very informative conference – Forrester Marketing 2016 and Mcommerce Summit - both with an impressive, knowledgeable roster of presenters.
Email split-testing is an essential part of the campaign development process as you learn what to say to get your shoppers to open, click and even convert.
In a recent post, I summarized my experience researching retailers' post purchase practices by comparing marketing to courtship. As it turns out, that metaphor continues to be validated.
Producing our annual shopping cart abandonment study, where we look at the shopping cart abandonment practices of retailers in the Internet Retailer Top 500 and Second 500 guides gives us the opportunity to study other aspects of leading retailers’ digital marketing efforts, as well. With personalization being one of the most prevalently discussed topics by retailers, one of those additional areas we took a look at for our most recent study was use of recommendations both on-site and in email.
We hosted the first of our two Customer Connections events in New York this week. It was filled with new ideas, best practices and strategies that will help retailers create a seamless shopping experience for their customers across multiple channels.
It’s 2016 and we’re just coming down off the holiday rush, but I bet you’re already thinking about where and how to find new customers and subscribers.
It wasn’t that long ago that the industry was saying, “Retail stores are dead!” and “The malls of America are empty and closing for good!” But with a new focus on interaction and engagement with consumers in retailers such as Rebecca Minkoff and Ralph Lauren, there could be a whole new world of retail.
Retailers need to do everything they can to engage and re-engage subscribers with every email deployment. It’s no longer enough to send the same message to everyone.
Recently the Marketing Team at Listrak took a road trip to King of Prussia Mall, the nation’s second largest mall, which features a diverse mix of more than 400 stores, including an array of upscale department stores and luxury brands.
There has been a major shift in the way customers respond to targeted email messages. Just a few years ago, the general belief regarding browse and abandon emails centered on privacy issues.
Marketers have been using personalization to increase engagement and conversions for many years, starting with the interjection of first name in email subject lines and direct mail pieces.
Although slightly less than one third of consumers are making purchases on their mobile phones, we know that they use their phones at many different points along the path to purchase: to discover new brands and products, conduct research, browse social media sites and compare prices.
One key is to train store associates to get customers’ email addresses. A great way to start is by offering shoppers e-receipts.
In our latest whitepaper on email benchmarks and trends, we shared some examples of retailers using email messages to drive in-store traffic. I have received a few more recently that I thought were worth sharing:
We’d love to hear about the current state of your business and where you’re headed.
Get Started
.png)
