Analytics, Mobile, Social Media and Digital Marketing Strategy
Averages lie to you. One of our publishing clients looked at the average sell-through rate of their online advertising inventory and noted it was 70 percent.
“We can launch a metered paywall, and as long as we do not lose more than 30 percent of our inventory, the lost advertising revenue should be minimal,” they thought.
If your online shop analytics stops with the order, it is stopping short. Some product groups like Fashion tend to have high return rates, so looking at refunds can give you a different view of your shop and marketing performance. At siroop.ch, a new Swiss online marketplace, we tried to look at what happens after the order in both Google and Adobe Analytics. While Google’s imports may require a bit less setup time, they have major limitations. Adobe Analytics’ Transaction ID Data Sources gave us the full picture from Campaign to Cancellation.
For a Category Manager of an online shop with hundreds or thousands of products, it can get difficult to find those products that are performing poorly AND are worth optimizing.
You cannot simply work on all products that did not sell well last week, there are just too many. Focusing on only those products with high margins is not going to help much either.
Here are some helpful performance metrics you can create in Adobe Analytics (formerly SiteCatalyst) – and partially also in Google Analytics.
Any marketer worth their salt knows that a campaign’s real value is always going to be determined by its ROI, no matter how pretty the pictures or clever the copy. Ultimately, it’s about generating sales, and key to making those is nurturing a positive relationship with the people with the buying power to make that happen – even if that does involve making them cry over an old man living alone on the moon.
In days gone by, when bricks and mortar – or, at most, mail order catalogues – were the predominant point of sale, marketers had the luxury of time in which to generate these relationships: planting the seed of potential purchase with a compelling strapline or seductive bit of imagery.
OK, so we now know what we’re going to sell and to whom. We also know what price points we are going to go with and how much money we’re going to make per item. We know how we’re going to take payment, we know how we’re going to get the goods or services to the customer and we know how we will handle any issues. So in this installment we will look at how you go about choosing your tech and your tech partner.
You’ve done all your research and you know what you need from your online presence, but how do you go about converting that in to a web platform which will entice your customers? After all there are plenty of great products that haven’t performed online as they really should have, due to a poor technical deployment and little or no inbound strategy, so your choice of platform and tech partner should not be left to the vagaries of a “friend of a friend” or worse still a rudimentary Google search – the digital equivalent of sticking a pin in a yellow (or white) pages!