Social media is still growing rapidly. I’m pointing out the obvious here but social networks are a dynamic medium for entertainment and interaction, including content discovery and product recommendation.
As such, the auto industry seems almost uniquely suited to social.
While most consumers buy cars infrequently, their interest in them (based on price tag, necessity and if you indulge me, the embodiment of the American dream) often transcends the purchase event.
As such, social analytics has cause to mature in the automotive industry, where it surely stands to play a part in the sales funnel other than simply branding.
I’ve been reading a nice little CMO Council report on social analytics in the auto industry. Here are some thoughts on integrating social into automotive sales.
Ecommerce is simple. That’s the premise of this post, which follows on from ‘finding your best products’. The heart of ecommerce is finding your best products and your best customers, in the pursuit of most profit.
The old mail-order mantra of ‘recency, frequency and monetary value’ (RFM) is still useful here. Categorising your customers based on an RFM matrix is the start of identifying your hero customers, and those that need a little more attention.
These posts have been taken from a talk given by Mike Baxter, Econsultancy long-time friend and consultant (author of the Checkout Optimisation guide, amongst other things), at a recent breakfast briefing with Ometria.
Let’s see what Mike had to say…
Ecommerce is simple. Don’t let anyone trouble you with thoughts on mobile, social or personalisation. The beating heart of ecommerce is the triangulation of data and uniting your best products with your best customers to make the most profit.
I had the pleasure of listening to Mike Baxter, an Econsultancy long-time friend and consultant (author of the Checkout Optimisation guide, amongst other things), talking about data triangulation at a recent breakfast briefing with Ometria.
Mike detailed his deceptively simple philosophy of selling online and I thought it worthwhile to put his thoughts down in full, over a couple of posts. Everything you read in these posts comes out of Mike’s presentation.
I think it’s worthwhile dwelling on this idea of knowing your products and customers ahead of anything else. Ultimately it’s the nub of your site design but also your marketing efforts including media spend.
As marketers start to join up data sources, they need to be wary of jumping the gun, trying to stitch up remarketing, social CRM, personalization, before they’ve truly looked at optimising product mix and display.
Here’s what Mike had to say…
Gyms are one of those services that start debate. Maybe it’s because a lot of us don’t cherish the thought of visiting them, but their membership terms can seem unreasonable.
And of course you have to trawl through their individual websites, as Matt Owen has done previously.
PayasUgym.com is a start-up that aims to make gym day passes easier to obtain, giving flexibility to the gym goer.
Graeme Horne was the first employee at hungryhouse.co.uk, and has just left after seven years to join PayasUgym.com, based in London. I spoke to Graeme and CEO Jamie Ward.
I’ve been writing about presentations I watched at Digital Media Strategies 2014, including talks by Verdens Gang, Axel Springer and the New York Times. So apologies if publishing isn’t your thing.
But that’s sort of the joy of discussing media companies, how do they become more than mere old fashioned publishers. How do they find new streams of revenue and restructure so that subscriptions work and digital actually makes some money?
One of the spots at the aforementioned conference was CEO of the Financial Times, John Ridding having a fireside chat with Ken Doctor, President of Newsonomics.
Many interesting facts, figures and opinions were teased out, so I thought I’d round them up here.
How does a newspaper create new digital products to attract new customers? Understanding your market and adapting your offering accordingly is key, according to Denise Warren from the New York Times.
At Digital Media Strategies 2014, Denise discussed new products, including NYT NOW and their development in the context of selling digital subscriptions.
As the pioneers of the paywall, what do the New York Times team have to say about making revenue from digital and innovation in product development?
The Axel Springer group is pretty big, it’s active in 44 countries and generated revenue of €3.3bn in 2012.
13,650 people are employed across the group, which includes more than 230 publications such as Bild, but also companies such as Zanox (which includes Affiliate Window).
But despite its size, Axel Springer is using startups and a new culture to drive digital change and growth across the group.
This has been a big step and is a trend we’re seeing in many industries – see John Lewis’ recent announcement of JLabs, a call for entrepreneurs with a £100,000 investment to the best new startup.
At Digital Media Strategies 2014, Springer Electronic Media CTO Ulrich Schmitz talked to us about developing a digital portfolio.
How does one develop new business models in the light of digital? What is the best way to foster innovation and entrepreneurship? And when does one integrate digital investments or indeed keep them separate.
Is achieving integration of print and digital publishing the pursuit of the Holy Grail? Well, it certainly sounds nice listening to a publisher talk about burgeoning digital revenues in multiple channels, alongside beautiful print products.
Verdens Gang is a Norwegian newspaper with a daily circulation of more than 200,000, in a population of 5m. Across print and digital, 1.8m people use VG daily.
At Digital Media Strategies 2014, editor-in-chief and CEO of VG Torry Pedersen gave the lowdown on how they integrated print and digital effectively, along with how they monetised smartphone and tablet content.
Culture is the key, as is so often the case in disrupted industries where big brands have to adapt and are competing with pure-plays that have started on the right foot.
Torry used the analogy of Haile Gebreselassie vs. Usain Bolt to describe print and digital. They both run but they run in very different ways and they shouldn’t have the same training regimen. The same can be said of magazine-style high quality print products compared with the fast-moving multimedia world of online news. The two teams can’t necessarily work together.
That’s why from 2000 until 2011, everything at VG was separate for print and online, from ads to editorial. In 2011 the two were joined back together once again.
The same thing happened with mobile and desktop, the two had separate ad sales and technical teams from 2010 until 2014 (though the same content team). Now ad sales and techies across desktop and mobile are integrated.
So what are the challenges that VG has overcome and how is it moving forward?
Emails, from one to the next you either love them or hate them. Bad ones are deleted and I even enter the bin and 'delete forever' if I think a particular example is karmically altering my inbox.
In the past I've written about some things I like to see in emails. I've been on the look-out again and here you'll find six companies (B2B and B2C) that sent me emails deserving of mention for their creative strategies.
Design and copywriting are hard to teach, I'm certainly not somebody that sees natural order in things. See what you think of these examples and feel free to tell me if you would have deleted them in an instant.
Many retailers and pure-plays have expanded into Russia despite some difficulties stemming from changes to import laws. I’ve previously shared some detail on Russian ecommerce, and the Econsultancy Russia Digital Market Landscape report is well worth a look.
In this post I thought I’d offer some thoughts on search in Russia, shared with me by Hannes Ben, EVP International at Forward3D and founder of Locaria.
Fashion is growing quickly in Russia, with a 42% year on year increase in revenue across clothing, shoes and accessories. In turn, the SEM strategies of these retailers have to be adapted.
So what are the challenges and opportunities of search in Russia?