The Blog of Hayden Sutherland, an eCommerce, Online Marketing and Digital Strategy consultant based in Glasgow, Scotland. These are my thoughts on how companies can take advantage of the modern interaction technologies and methods to improve communications, influence behaviour and retail online better.
Showing posts with label eCRM. Show all posts
Showing posts with label eCRM. Show all posts
Saturday, November 5, 2016
Monday, September 9, 2013
Retailisation - what it means to be a modern digital retailer
"We want to be more like a retailer"
"We need to think more like a retailer"
"Our business needs to evolve into more of a retail model"
Sound familiar? Well I'm hearing these sorts of quotes more and more often these day, and not just from the obvious brands you would think. But from established product manufacturers and service providers, who realize that they need to up their game and drive people to consideration and purchase/subscription/take-up.
It seems that despite a recent Global economic melt-down driven by over-spending and an economic reliance on spending... retailisation seems to be the way forward. Everyone apparently now wants to be the next Amazon, Zappos or Play.com
So what does it actually mean to think and be more like a digital retailer these days? (Especially the major online or multi-channel retailers, who seem to epitomize this ethos).
Well here's my thoughts:
"We need to think more like a retailer"
"Our business needs to evolve into more of a retail model"
Sound familiar? Well I'm hearing these sorts of quotes more and more often these day, and not just from the obvious brands you would think. But from established product manufacturers and service providers, who realize that they need to up their game and drive people to consideration and purchase/subscription/take-up.
It seems that despite a recent Global economic melt-down driven by over-spending and an economic reliance on spending... retailisation seems to be the way forward. Everyone apparently now wants to be the next Amazon, Zappos or Play.com
So what does it actually mean to think and be more like a digital retailer these days? (Especially the major online or multi-channel retailers, who seem to epitomize this ethos).
Well here's my thoughts:
- A good online retailer never stops looking for ways to improve what they have. This constant & iterative approach to goal optimisation means sites need to constantly change to increase their conversion ratio, average order value and other KPI's. eCommerce giants like Amazon, Argos, Tesco, etc. no longer launch major re-developments once in a while, but have a tried & tested process of smaller changes planned based on analytics & insight. These changes are then implemented in an optimisation road-map as quickly as they can, with the idea of building up a picture of what works and what doesn't.
This is also not just something that done on the homepage of your site, where every product/service wants to get visibility, but on every page / template, including: landing pages, product pages, etc. - Use every opportunity to maximise each individual transaction. From useful up-sell and cross-sell opportunities through to optimised abandoned basket messages or a clever eCRM communication that pulls in dynamic product suggestions based on browsing history... you have the data, use it to persuade and encourage.
- Carry out regular user experience site reviews, but ensure they are done from the perspective of a prospect/customer.
Examples could include: - A new customer looking for product information
- An soon-to-be customer looking for product validation
- An existing customer looking for support or returns information
- A lapsed customer who has forgotten their password.
- A PPC & display budget should focus on those campaigns that deliver conversions and not just visits or other vanity metrics. In other words, deliver a bought media strategy that targets goals using input from you site analytics.
(And if I hear one more senior exec say "we have X number of hits on our site" - I think I'll scream)
Retailisation isn't for everyone. But as more & more sites move beyond just the basics, I'm sure it is an approach that will continue to increase in use.
Labels:
abandoned,
amazon,
analytics,
argos,
data,
display,
eCRM,
KPI's,
marketing,
optimisation,
ppc,
retail,
retailisation,
reviews,
suggestions,
tesco,
User experience
Friday, March 15, 2013
You're not focusing on digital retention? Why?
So, even in these austere times... Companies still seem to be focusing more on customer acquisition than retention.
Perhaps it's because retaining customers is seen as less interesting and 'glamourous' than the various customer acquisition processes and tools out there. Or maybe it's because the tools and techniques for retaining customers have now reached a decent level of maturity (e.g. Email is usually the main eCRM tool and best practice around: creative, delivery and measurement are all understood pretty well).
Either way, I think there needs to be a shift in the marketing priorities of a lot of companies and away from acquisition. The race to be top of Google via PPC and SEO techniques can put a big dent in marketing budgets. These £'s spent might be palatable now... but maybe not when compared with the pence to retain customers.
Please note that I'm not completely advocating a radical diversion of all your marketing budget across to retention activites. What I am suggesting however is that if it costs many times as much to get a new visitor compared to getting back an existing one... That companies should balance their marketing spend accordingly.
Perhaps it's because retaining customers is seen as less interesting and 'glamourous' than the various customer acquisition processes and tools out there. Or maybe it's because the tools and techniques for retaining customers have now reached a decent level of maturity (e.g. Email is usually the main eCRM tool and best practice around: creative, delivery and measurement are all understood pretty well).
Either way, I think there needs to be a shift in the marketing priorities of a lot of companies and away from acquisition. The race to be top of Google via PPC and SEO techniques can put a big dent in marketing budgets. These £'s spent might be palatable now... but maybe not when compared with the pence to retain customers.
Please note that I'm not completely advocating a radical diversion of all your marketing budget across to retention activites. What I am suggesting however is that if it costs many times as much to get a new visitor compared to getting back an existing one... That companies should balance their marketing spend accordingly.
Wednesday, February 27, 2013
Customer retention with email - things to consider
It's still the case with most business sectors I work in that retaining an existing customer costs less than getting a new one. Customer relationship marketing, eCRM, marketing automation and a bunch of other industry approaches and technologies are all there for one thing... To retain the (profitable) customer and stop them switching to other competitive services or products.
Recent statistics [see above] support my own findings that organisations are increasingly using email as a customer retention tool, rather than one for finding new customers. Although Social Media is constantly grabbing the headlines, the less glamorous subject of email and eCRM is becoming more and more useful in keeping the customers a company already has.
But doing retention marketing sensibly isn't as easy as you might initially think. In the modern world of SaaS email marketing systems and freemium eCRM tools, its relatively simple to dive straight in to a package and start spamming your existing customers left, right and centre.
However, it might be that by weighing-up the following you make your retention campaigns easier for you and more cost-effective for your company..
Recent statistics [see above] support my own findings that organisations are increasingly using email as a customer retention tool, rather than one for finding new customers. Although Social Media is constantly grabbing the headlines, the less glamorous subject of email and eCRM is becoming more and more useful in keeping the customers a company already has.
But doing retention marketing sensibly isn't as easy as you might initially think. In the modern world of SaaS email marketing systems and freemium eCRM tools, its relatively simple to dive straight in to a package and start spamming your existing customers left, right and centre.
However, it might be that by weighing-up the following you make your retention campaigns easier for you and more cost-effective for your company..
- Ensure you've correctly set-up your digital analytics (e.g. your Google Analytics tags)
- Make sure your email service provider can track everything you need (bounce rates, site visits, conversions)
- Check that you have the above two points integrated (e.g. that you can also see what emails are delivering converting visitors in you digital analytics package)
- Build a schedule for your communications, hopefully covering a calendar and also driven by events (e.g. by all means send out a 'Valentines Day' email a week before the 14th February, but also remember to send a 'Please renew your product warranty' or similar message the week before the anniversary of the product purchase).
- Test your messages on all devices, including mobiles and tablets
- Clearly place an unsubscribe link at the bottom of all your emails
- Understand the deliverability of your emails and what proportion of your messages end up in the 'junk' email folder (where possible, work with a premium ESP to measure and improve this)
Labels:
automation,
eCRM,
email,
marketing,
retention,
social media
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