One of the best ways to make your visitors convert is by serving them the coolest stuff!
Don’t push them into an overly complicated buying process if you’ve figured out that people who see your style guide are converting at 10x the rate of those who don’t!
Once you’ve controlled for other influences, push your visitors towards your content and watch your revenue fly.
So, how are you going to get them there then?
Real-time marketing is one of the most important digital and ecommerce trends in 2014, with many businesses seeking to make their marketing teams more agile in the way that they deal with consumers.
But what are perceived to be the main business benefits of real-time marketing?
A new report from Econsultancy and Monetate asked both client-side and agency respondents to answer this very question, with a better customer experience proving to be the most popular answer (84% company vs. 82% agency).
Around three-quarters of respondents cited improved conversion rates as a key benefit (72% vs. 74%) making it the second most-popular answer.
70% of display advertising is still bought in the old fashioned manner. Yep, that’s right, faxing order forms, negotiating prices etc.
But the advertising market is changing with programmatic advertising on the rise, whether it’s real time bidding (RTB) or programmatic direct.
There are new companies springing up all over the place providing technology platforms for buying real-time targeted advertising (so called ‘demand side platforms’) or technology to help publishers automate and optimise the selling of impressions.
New research from Turn, a digital advertising platform, shows the programmatic market is getting more competitive in some sectors, with CPMs increasing across channels, apart from mobile (where supply is quickly increasing).
What are the opportunities for marketers in different sectors when using RTB platforms?
In this post I’ll quickly explain a bit about programmatic advertising, as it can be a bit of a mind-bender for those on the outside, and I’ll take a little look at Turn’s latest research into trends.
At the beginning of February, I read a great piece in Econsultancy called “Why do online retailers need live chat?” Live chat, combining the ease of e-mails with the immediacy of the phone, is an excellent way of communicating with customers, explained the article.
This is undoubtable. According to BoldChat, 31% of customers in the UK and US say they would be more likely to purchase after a live chat.
Also, a customer service benchmark conducted at eDigital, rated live chat as the best customer service channel at 73% (e-mail was rated at 61% while phone was at the bottom with 44%).
However, I think that just having a constant link to a live chat tool is actually not enough. You need to take it one step further. Optimization, in this, is key.
Real-time marketing is currently one of the most prominent trends in digital, however many businesses are still only just starting to experiment with this tactic.
Our understanding of what constitutes real-time marketing is also unclear, as many people simply associate it with quick response times on Twitter.
Marketing is never a completely spontaneous activity. By its very nature, communication with target audiences requires a level of knowledge (stemming from data and insight) about what the audience wants and how the product or service offered meets their needs.
This processing of knowledge to decide on how to engage with audiences cannot happen without planning.
A key question therefore is how fast is ‘real time’?
Various cart abandonment surveys conclude that around 25% of online customers abandon their cart due to out-of-stock issues.
But the frequency of the stockout events is much higher than 25% as many customers encounter an out-of-stock page even before they’ve added one item to their cart, causing them to abandon the site altogether.
Furthermore, the impact of out-of-stock (OOS) extends well beyond the lost sales of the item alone. OOS have been shown to reduce the satisfaction a consumer has with a given purchase decision, leading to subsequent behaviors such as store- or brand-switching, complaints, and negative word-of-mouth.
So how can we tackle the out of stock problem online retailers are encountering today?
It’s February and already, according to a number of statistical sources, around a quarter of us have failed to uphold our New Year’s resolutions.
Interestingly, 39% of people in their twenties achieve their resolution each year compared to only 14% of people over 50. That’s interesting given the prevailing attitudes towards younger generations.
In the same vein, marketers are mapping out the conversations they want to have this year to stay ahead of the curve. Given the influx of ‘2014 Trends’ in January, I thought it would be a useful point to review the best and highlight a few that might follow New Year’s resolutions.
Here are some of the best stats that we've seen this week.
This week it includes Facebook's latest billion dollar purchase, ecommerce integration, Android's dominance of the smartphone market and online marketing spend in China.
And for more digital marketing stats, check out our Internet Statistics Compendium.
UK based publisher DK has seen huge growth across all of its social channels thanks to its partnership with LEGO.
LEGO is of course one of the most beloved brands on the planet. This month has seen it completely dominate the marketing world with The LEGO Movie, a triumph of content marketing, and its current success is certainly due to its many licences and partnerships.
What success can your brand or company expect to achieve by aligning with the Danish toy company responsible for producing the largest population (albeit plastic) on Earth?
DK has revealed its before & after social media numbers from its campaign with LEGO from September 2013.
If advertisers want to be truly multichannel then they need to have access to, and control of, their product data.
By extracting product data from several different sources, you can fulfil any required channel marketing application.
Data can be extracted directly from your ecommerce site, existing data feeds or an API, and can then be distributed into hundreds of different online channels, increasing the visibility of your products in front of online consumers.
However, it all hinges on having high-quality product data that is comprehensive, accurate and consumable.