Slideshare

martedì 30 giugno 2015

4 ways the Smartwatch will impact email marketers in 2016

Email marketing is still highly effective, but the smartwatch brings with it a new challenge for marketing strategists

I've recently upgraded my watch to a Sony Smartwatch 3, but the Smartwatch 2, depicted below, is often cited by technology bloggers as being one of the devices that kicked off the wearables trend in a big way back in 2013. Life with a smartwatch isn't as difficult to get used to as I thought it might be, instead adding a lot of value to my day in ways I could never have imagined. As a copywriter I've penned many an email for many a marketing campaign, so the way the smartwatch began to change my behaviour as a consumer was of particular interest to me.Smart Watch

The smart watch will impact email marketers

I seldom read full emails or messages on my smartwatch (possible though it is with plain text versions - more on this in a moment), but it does act as a very nifty buffer between me and my phone, allowing me to glance at my wrist whenever an email pops through to see who it's from, what it's about and whether or not it's worth my time. With a swift swipe I can mark it as read or delete it, which means that if the smartwatch does take off (and the new Apple Watch has all but sealed the deal here), email marketers will have a potentially unwelcome challenge on their hands.
Email on smartwatch
The Apple Watch will in all likelihood herald a new age of wearable technology. One look at the how the iPhone kick-started the smartphone revolution and it's hard to disagree, particularly when you've experienced the form, function and sheer convenience of a smartwatch first hand. If you buy anything other than an Apple Watch, the likelihood is that you'll be using Android's rival operating system, Android Wear, which, after its latest update, has won over its critics and become the best of the bunch, for now.
Regardless of which smartwatch dominates the market, here are just 4 ways they're likely to change the way digital marketers think about their email campaigns in the coming year.

Short content will rule

While the smartwatch can already pack some serious punch when it comes to features and usability, tapping on links and browsing web content is a long way off and will probably never be considered practical. So it's important that the content you deliver provides immediate value and a clear indication of what's next. Long form content will most likely get discarded, marked as read and left to gather dust in a user's inbox if they're skimming through their emails while waiting to hop on a train. Make it short, pithy and engaging. Not always easy but always worth the effort.

Plain text will make a surprising comeback

Just because your subject, pre-header and opening message need to be short and concise for viewing on a smartwatch, doesn't mean that you have to dumb your emails down and put creativity back in its box. Plain text versions of emails are still best practice, and they're about to come back in a huge way thanks to wearable tech. Currently all smartwatches, to my knowledge, display plain text alternatives of your emails where possible. This means that pretty images and media content aren't going to make it through to your audience - at least not at the smartwatch 'buffer' stage. So make sure your plain text alternatives are just that - plain text and to the point - and you might just earn some screen time on a user's phone if they deem it relevant enough to reach into their pocket and take a closer look.
Make your emails too 'content rich' without a plain text alternative, and you risk zero engagement and a one way swipe to the junk folder.

smart watch email

Open rates will likely decline, but don't panic!

If the Apple Watch takes off and smartwatches become the new smartphone, open rates are going to take a hit. The problem is, as email marketers we might not know why. The previous two points give some obvious rationale behind the decline of open rates - we're going to have to get through what is essentially an additional 'checkpoint' before we get some serious screen time from the user - but it goes deeper than that. Most email clients tend to track opens with images, and because the smartwatch will only show HTML emails in their plain text alternative, tracking becomes a bit of a problem. Someone could read and digest your content without every 'opening' the email on their phone or computer. Combine that with the fact that you can't tap links or engage with content in any meaningful way on your wrist, and marketers have a real brainteaser on their hands.

So what's the answer? "Visit website | view on your phone" is a start...

view online
We've all seen that at the top of our emails. If an email doesn't render properly in Outlook or Thunderbird or any email client the user happens to be reading on, there's almost always the option to ‘view online’ at the top somewhere. If smartwatches become as ubiquitous as smartphones, then 'view on your phone’ could be the next big thing. If it's something that engages the user they would simply click the link to make it load in their mobile's browser - sort of a rudimentary bookmark to remind themselves to read it later. Either that or some more refined bookmarking system will take hold, perhaps making way for a new wave of apps that filter emails from your watch and queue them up for viewing on your phone at more convenient times.
If smartphones changed the rules for email, then smartwatches will change the game entirely. Watch this space.



from Smart Insights http://ift.tt/1HslDzG
via IFTTT

KPIs for apps – optimise your Mcommerce Apps and Mobile UX

Which KPIs will help retailers optimise their mobile apps

Well, you've finally launched your app and like other app makers in the retail space, you are looking to increase engagement with your users and generate income. You are monitoring your downloads and sources, but is that really enough to understand your users and discover what makes them stick? Will you be able to fully optimise your app based on this information alone?Applications and KPIS

The answer is a pretty firm NO. You might be monitoring certain elements or metrics of your app, but is it really giving you the info you need? Going one step further, you need to be monitoring the right KPIs under those metrics. Because when it comes right down to it, KPIs are where the clues are at - these will guide you in optimising your app and increasing conversions.

In this post, I will focus on how you can optimise your Mcommerce apps by diving into some KPIs that matter most.

If you were a retailer, you'd want to be monitoring the metrics under Acquisition, Engagement and Outcome.

Breaking it down even further, there are scores of KPIs you can identify under each one of those umbrella metrics. Apps for retailers are a one of a kind opportunity to engage their audience and the ones that succeed have the sticky factor and deliver experiences to users that are full of value. When it comes down to it, app makers, and this applies to all verticals, need to realize that their apps are in the palms of their users every waking hour, and this opportunity must not be wasted.

This further underscores the need to be monitoring the key metrics and is a great start, to go beyond and identify those KPIs that will be provide you with the opportunity to learn how your audience engages with your app, and to refine as needed.

One powerful way of doing this is via the use of Visual App Analytics, as Appsee provides, which empowers you to take a deep dive into the user experience and behavior to not only understand the what, but also the why behind the KPIs.

Useful KPIs to optimise your App and mobile user experience

Let's take a look at the KPIs that I feel would help retailers optimize their apps and maximize the overall mobile user experience:

Acquisition

The acquisition of new users and how many is a metric of vital importance. By monitoring a few important KPIs in this area, you will have the information you need to optimize the process of User Acquisition. There's no doubt that a mcommerce app maker wants to acquire as many users as possible, but more importantly an app needs to gain users who are actively engaged and use your app. That being said, let's take a look at some KPIs to monitor under this important metric.

  • % of users that converted into active users

The major challenge of app makers everywhere is identifying the number of users that are considered high quality and will provide you with a solid Lifetime Value (LTV-LINK). When all is said and done, it is these users that will bring your app a constant stream of revenue, the key factor in a retailer's survival.

By monitoring the channels (such as referral, social, ad campaign, etc.) where most active users came from, you will also learn what channels you need to focus on and optimize so you can gain more active users and allocate your budget accordingly. You might want to re-target your users with other supporting ads on Facebook with discounts and other offers. The channels you identify as weak, you should consider cutting, and focus elsewhere.

The Onboarding experience is just one way which you can increase the % of active users, since it allows the app to show value and helps users understand how to use the app efficiently.

For example, you do not want to overload your first time users with too much information. Just show them what they need to get to the next step. You can see more best practices for onboarding in this article.

  • Cost per customer acquisition (CAC) of each channel

By monitoring this KPI, retailers can gauge how much they are spending to acquire each customer and allocate their marketing budget to the profitable channels. Decreasing the cost of acquiring customers while maintaining a high level of user activity is also paramount to having a successful app.

In a nutshell, it appears that LTV (Life Time Value) should be about 3 times CAC for a recurring revenue model.  All costs involved in acquiring a customer and converting them should be taken into account. For the CAC calculation, please read this post. 

Engagement

Engagement covers metrics that will tell you what percentage of users stick with your app after downloading, user flow, how much time they spend on each screen, and what actions they take, among others. Below are a few KPIs you should focus on:

  • User Retention -  By Monitoring retention rates, you can determine which groups of users are being retained band can optimize your app accordingly. One way to do this is by personalizing their user experience (UX) to increase engagement.For example, you might see that active users in a group are being retained after delivering more international sporting event related news. You can use those findings to personalize their experience even further by delivering content that is more global and sports related, hence increasing your app's retention rate. When it comes down to it, retaining users will drive more purchases. 
  • Session length - Monitoring session lengths is of vital importance, as you can determine the engagement levels and the interest of your users. If you see active users are converting when being taken to a specific checkout process, after spending a great deal of time on certain screens of your app, then you will want to optimize your app to include the same types of screens on the way to checkout.

Outcomes

These are the areas where users convert in your app. This is where you are actually earning money and includes elements that make an economic impact on your business such as ad revenue, in-app purchases, sign ups or subscriptions. Two KPIs under the outcome metric worth mentioning are:

  • 1. In-app purchases – Say, for example you see a certain group of users from an area of the United States abandoning their carts. You realize that you are delivering a checkout process that requires too much interaction, or if you realize there is a technical problem when adding certain groups of items. You go ahead with optimizing your app, so that it only takes a few steps, while offering a number of different payment methods. You also need to address any technical issues that may be negatively affecting your conversion rates.
  • 2. Average sale for user - Different users have different purchasing patterns, some may buy a lot of low ticket items, some just a few and others might purchase expensive items, a few times a year.By monitoring the average sale per user, you will be able to personalize different offerings to different users. For example, for high ticket purchasers, you might want to offer complementary items for free over a certain purchase prices, or a discounted bulk rate for smaller ticket items. Consequently, by doing so, you will increase the average sale of the user.

Putting it all together

By drilling down into KPIs beyond the key metrics, you will learn more about your audience's...well just about everything. From what they like to buy on Sundays during winter to what type of content they consume around holiday time.

By choosing the right KPI mix for your business and optimizing as needed, you'll find your app always only a stone's throw away from peak success. I say always because app optimization is a constant recurring process that with the right tools should ultimately become a well-oiled optimization machine.

Image/Copyright: Shutterstock


from Smart Insights http://ift.tt/1IpFikG
via IFTTT

How important is email marketing to retailers?

How does email compare to other channels in driving customer acquisition and sales?

We can see the importance of email marketing by using the excellent Custora Ecommerce Pulse - which is updated monthly to show the impact of different channels on sales across $40 billion of US retail transactions from retailers who are clients of Custora. Here are three data points showing the importance of email marketing:

1.  How many orders does email drive compared to other media?

In 2015 Email remains one of the top three channels driving sales, not far behind organic and PPC. This position is mainly because of sales to existing customers. The latest data from May 2015 shows that email marketing now accounts for 15% of all sales.

Importance-email-marketing-retailers

All of the top 3 have fallen a little compared to 2014 as Affiliate prompted sales have grown.

For all of our interest and attention on social media this accounts for just 2% of retail sales.

2. What percentage of customer acquisition is driven by email marketing?

Although email marketing is mainly seen as a customer communications medium, it has grown in importance as an acquisition technique in retail. It's striking that:

Customer Acquisition via Email has quadrupled over the last 4 years.

This is thanks to prospects signing up to enewsletters or responding to pop-ups offering discounts for the first order if a subscriber signs up to email.

Here the Custora data (from earlier research) shows us that email has increased dramatically as a customer acquisition channel, so that it now rivals search.

CustomeracbychannelEcommerceguide

3. What is the customer lifetime value of email?

To truly understand the value of different acquisition channels you have to assess long-term sales measured as customer lifetime value (CLV or LTV typically measured over a 3 or 5 years). Here email is positive relative to affiliates and social media marketing, but less compared to social media marketing which perhaps can be seen as sparking more 'impulse purchases'.

Custora CLV

Given the continued importance of email marketing for retailers and other businesses, we have recently launched a more detailed guide to using Email marketing to support acquisition and customer onboarding which uses examples from a range of sectors.



from Smart Insights http://ift.tt/1FMOrxb
via IFTTT

lunedì 29 giugno 2015

Email marketing statistics 2015

The best email statistics sources to benchmark open and clickthrough rates for your email campaigns in the UK, US, Europe, Asia-Pacific including Australia

Email marketers often ask "how do our campaigns compare?". They're looking for statistics to compare subscriber engagement for open, clickthrough and delivery rates, ideally within their sector.

Fortunately, there are a number of good options to benchmark email response across different sectors. The best stats sources are compilations by email marketing service providers who produce statistics across their clients' campaigns. As well as our compilation of the latest data, I also recommend Mark Brownlow's compilation of Email marketing statistics sources.

Email Statistics - June 2015 update

We will continue to update this resource through the year as new reports are produced by the main email platforms. Do contact us if you're an email provider with new stats to share. Talking of which... Mailchimp have updated their Email benchmark stats for June which give a great way of comparing email response by industry. We do have other industry sector breakdowns of response later in this post, but since Mailchimp send billions of emails a month for more than 8 million users this is probably the largest global sample of email response that has been created.

Industry Open Click Soft Bounce Hard Bounce Abuse Unsub
Agriculture and Food Services 25.8% 3.5% 0.7% 0.5% 0.0% 0.3%
Architecture and Construction 25.2% 3.2% 1.7% 1.2% 0.0% 0.4%
Arts and Artists 27.9% 3.0% 0.8% 0.6% 0.0% 0.3%
Beauty and Personal Care 19.5% 2.3% 0.5% 0.5% 0.1% 0.3%
Business and Finance 21.6% 2.9% 0.8% 0.7% 0.0% 0.2%
Computers and Electronics 21.7% 2.6% 1.1% 0.8% 0.0% 0.3%
Construction 22.3% 2.1% 1.7% 1.3% 0.1% 0.4%
Consulting 20.0% 2.6% 1.1% 0.8% 0.0% 0.3%
Creative Services/Agency 23.3% 3.0% 1.2% 1.0% 0.0% 0.4%
Daily Deals/E-Coupons 13.9% 2.0% 0.1% 0.1% 0.0% 0.1%
eCommerce 16.9% 2.6% 0.4% 0.3% 0.0% 0.2%
Education and Training 22.7% 3.0% 0.6% 0.6% 0.0% 0.2%
Entertainment and Events 21.5% 2.5% 0.6% 0.5% 0.0% 0.3%
Gambling 17.7% 2.7% 0.5% 0.6% 0.0% 0.2%
Games 22.1% 3.5% 0.6% 0.6% 0.0% 0.2%
Government 26.9% 3.7% 0.6% 0.5% 0.0% 0.1%
Health and Fitness 23.4% 3.1% 0.5% 0.5% 0.0% 0.4%
Hobbies 29.4% 5.7% 0.4% 0.3% 0.0% 0.2%
Home and Garden 25.8% 4.2% 0.7% 0.5% 0.1% 0.4%
Insurance 19.8% 2.2% 0.8% 0.8% 0.0% 0.2%
Legal 22.5% 3.0% 0.8% 0.7% 0.0% 0.2%
Manufacturing 23.4% 2.7% 1.6% 1.1% 0.0% 0.4%
Marketing and Advertising 18.6% 2.2% 0.9% 0.7% 0.0% 0.3%
Media and Publishing 22.8% 4.8% 0.3% 0.2% 0.0% 0.1%
Medical, Dental, and Healthcare 23.1% 2.7% 0.8% 0.8% 0.1% 0.3%
Mobile 22.1% 2.7% 0.8% 0.7% 0.0% 0.4%
Music and Musicians 23.0% 2.9% 0.7% 0.5% 0.0% 0.3%
Non-Profit 25.7% 3.0% 0.6% 0.5% 0.0% 0.2%
Other 23.4% 3.1% 0.9% 0.7% 0.0% 0.3%
Pharmaceuticals 19.3% 2.7% 0.8% 0.7% 0.0% 0.2%
Photo and Video 27.1% 4.2% 0.8% 0.7% 0.0% 0.4%
Politics 22.8% 2.3% 0.5% 0.5% 0.0% 0.2%
Professional Services 21.3% 2.8% 1.0% 0.8% 0.0% 0.3%
Public Relations 20.5% 1.9% 0.9% 0.7% 0.0% 0.2%
Real Estate 22.1% 2.2% 0.8% 0.7% 0.1% 0.3%
Recruitment and Staffing 20.9% 2.5% 0.7% 0.7% 0.0% 0.3%
Religion 26.6% 3.3% 0.2% 0.2% 0.0% 0.1%
Restaurant 24.0% 1.6% 0.4% 0.3% 0.0% 0.3%
Restaurant and Venue 22.7% 1.5% 0.7% 0.6% 0.0% 0.4%
Retail 22.1% 2.9% 0.5% 0.4% 0.0% 0.3%
Social Networks and Online Communities 22.2% 3.8% 0.4% 0.4% 0.0% 0.2%
Software and Web App 22.5% 2.7% 1.1% 0.9% 0.0% 0.4%
Sports 26.2% 3.6% 0.6% 0.5% 0.0% 0.3%
Telecommunications 20.5% 2.3% 1.2% 1.0% 0.0% 0.3%
Travel and Transportation 20.7% 2.5% 0.8% 0.5% 0.0% 0.2%
Vitamin Supplements 17.1% 2.1% 0.4% 0.3% 0.1% 0.3%

Breakdown of market share for email clients: Mobile and desktop

Litmus, one of the best sources for stats on Email marketing have produced a Jan 2015 update reviewing the current situation to previous years.

This chart summarising their research shows the rise of mobile email marketing to the point that nearly half of emails are opened on smartphones and tablets—a 500% increase in four years! 

Email statistics 2011 to 2015

The latest Litmus compilation of email client market share from February 2015 shows why it's so important to consider how well your emails render on mobile. It's based on the percentage of opens on different platforms. The uptick in webmail opens is again largely due to Gmail defaulting to open images.

Email clients - January 2015

View post on % reading emails on mobile devices.

Litmus also has additional data aggregating Mobile clients - see their Email marketing client market share site for the latest updates. This shows the need to optimise for the iOS and Android platforms, bit with Android surprisingly low compared to the iPhone.

Mobile email open rates percent

Comparison of Email open and clickthrough rates

Across all industries, the average open and clickthrough rate results according to the most recent Sign-up.To Email statistics for UK SME email marketing campaigns were:

open-clickthrough-rates-email-2014

Across all industries the average results for UK SME email marketing campaigns were:

  • Open rate: 22.87% (2013: 21.47%)
  • Click-through rate: 3.26% (3.16%)
  • Unsubscription rate: 0.53% (0.47%)
  • Click-to-open rate: 14.25% (14.72%)
  • Unsubscribe-to-open rate: 2.29% (2.29%)

This data shows that open and clickthrough rates are fairly stable, with opens up a little, in large part to Gmail defaulting to displaying images at the end of 2013.

The 2014 report has a relatively small sample of 1.5 billion emails sent by SMBs during 2013. A larger sample for UK Emails from Epsilon is presented in the European section of this compilation.

But it's a useful report since it has the breakdown of opens, clicks and unsubscribes by industry for B2B and B2C markets. This shows the much lower response in some sectors such as Events, Education and Legal services.

There are also statistics on engagement measured as clicked to open - this info isn't always available in these types of benchmarks. It's useful to compare how effective your creative and offers is at to generating clickthroughs.

Email open to clickthrough rates 2014

Finally, the full report also has a sector breakdown on unsubscribe rates. Again a large difference here by sector.

US Email Statistics

Epsilon Email Benchmark reports

Epsilon is one of the largest email providers broadcasting worldwide and has regular reports making it one of the best sources for industry breakdowns. The Epsilon Email Marketing Research Center has data for North American and some older European Trends.

US email campaign data published February 2015 shows that despite some social media marketing specialists occasionally saying that "email marketing is dead", open and clicks remain stable. This research is is 8.7 billion BAU emails and 340 million triggered emails sent in Q3  2014 across more than 140 large clients. You can see the power of triggered emails which have much higher response levels as expected since these will often include the Welcome sequence when someone first subscribes.

That said, marketers are having to work a lot harder through delivering more personalised relevant creative to achieve this and clickthrough rates are lower overall in 2012 compared to 2011.

Benchmark of open and clickthrough rates for triggered and BAU emails

Triggered email response statistics

The Epsilon data set is interesting since it has insight on triggered emails which aren't usually separated in these types of industry benchmarks. These are often more personalised and occur at an earlier stage in the subscriber relationship before email fatigue has set in - so these are useful for comparing to your welcome emails or abandoned basket emails.

A breakdown is also available by sector.

email response rates by industry

European Email Statistics

Epsilon was also a good source for breakdown of email response for European countries - see their EMEA Email Resource Centre. Breakdown by country below is kept for reference although Epsilon haven't updated this recently.

France Email response trends

Germany Email response trends

UK Email response trends

Asia-Pacific Email Statistics

Epsilon is again a source that can be used here. These sources have been recommended to me via Linked In:

http://ift.tt/1gDioJm

http://ift.tt/P2BDQM

Australia Email marketing statistics

The latest compilation of Email marketing statistics for Australian audiences from Vision 6 showing open rate across a range of sectors - B2B sectors have the highest clickthrough rates.

Australia Email marketing statistics

Please let us know of other sources we can share in updates here. Thanks!



from Smart Insights http://ift.tt/MWrS2y
via IFTTT

Digital marketing in Russia 2015

Russia's current digital landscape: Search and Social

We all know Russia is geographically big, but it is also a big market when it comes to social, search and e-commerce. Russia is above the global average for time spent per person on social media sites, and it is estimated that Russian's will make $36 billion worth of purchase online this year. What is more that amount is set to increase considerably to $43 billion next year.

Digital Marketing in Russia

Russia represents a big opportunity as a vast market with high rates of annual growth in the digital sphere. However it also presents a series of challenges because it is very different to western markets. The big players we are all familiar with such as Facebook and Google, do not dominate in the same way as they do in anglophone markets. So if you want to break into the Russian market via digital it is a good idea to get a good overview of the popular search engines and social networks in Russia.

The major search engines in Russia

Since 1997, Yandex has been the number one search engine in Russia, followed by Google, which entered the market in 2006. Third place is occupied by Mail.ru, which for a lengthy period was using third-party search engines. Mail.ru enabled its own search engine in 2013. However, in Russia, Yandex and Google take the lion’s share of the market.

This is the distribution of market share between the search engines as of November 2014, according to the Russian company Liveinternet.

Social networking russia

Social Networking

To understand the Russian Internet audience, we will have a look at social networking in the country.

The most popular social network in Russia is VKontakte, which has over 220 million registered users. With over 60% of its patrons aged 25 or older, VKontakte achieves 47 million visitors per day.

russia social network trends A social network for former classmates, Odnoklassniki has 124 million users. Having just under 60% of its audience in the 20 to 40 year old age bracket, 40 million visits are received daily.age on russian social media

Moi Mir@Mail.ru (My World) is operated by Mail.ru, the largest Internet company in Russia. 18.6 million followers are recorded per month (TNS, June 2011).

Facebook users in Russia were initially more highly educated and with good English skills. Many are businessmen and top managers. Facebook currently has 8.4 million users in Russia.

activity Russian social media

Similar to Facebook, Twitter is not a hit in Russia. As of July 2013 it had only 5.3 million users.

One of the main characteristics of the Russian social networks is that even if their functionality is the same, the audience is not homogeneous. For example, VK and Facebook have a different audience, and even the same people there will behave differently. Thus, you should take into account that the Russian Facebook audience is older than that for VK, usually has a high level of education, and prefers substantive communication.

The following list shows the 20 most popular sites on the Russian Internet, together with time spent viewing these sites. This data is provided by the TNS Gallup Media research agency.

top 20 russian sites

 

Russian Digital Marketing Success

Local specifics

As well as understanding market analysis and market design, knowing the audience’s lan­guage is very important. Having the advertising campaigns localized by a native speaker is a must.

Russian internet users are extremely diverse. People from all educational, wealth, age and ideological backgrounds are represented. As a result, not only do individuals use different Internet platforms to communicate and stay up to date with the news, but also different search engines. Even though all of the social networks provide essentially the same service, they each have their own specific relationship with customers and host dramatically contrasting content.

The Russian national character must be considered. There are many instances of campaigns which succeeded in North America and Europe, but which failed to attract, or in some cases even repelled Russian consumers. This happened despite having high-quality localisation. Certain techniques will not work in Russia, such as applying aggressive pressure. Trying to convince consumers that there is no option but to buy your product will only result in resentment.

Is there a ready market in Russia?

The amount and frequency of searches for your product or service should be analysed prior to launching a campaign in Russia. As well as using Google Trends, there is the useful Yandex service “Selection of words”: wordstat.yandex.ru.

It can be seen in the below chart that there were 361077 requests per month for the keyword ‘Iphone 6‘. It should be understood that this is not stable data and demand is constantly changing.

i phone 6 yandex

Today, digital marketing tools allow you to get in touch with Russian consumers worldwide. My experience in promotion of international brands on the Russian market indicates that businessmen today are not just interested in the Russian market; they are interestedin the whole Russian-speaking audience, living in CIS countries, Europe and America. As of 2014 the Russian-speaking market as a whole covered more than 270 million people according to the Ministry of Foreign Affairs of Russia. To ignore this huge market would be mistake.

The above listed analyses are part of White Paper called «Digital marketing in Russia 2015. Finding your customers on the internet in Russia — how to go about this» written by Vadim Tylik, President of RMAA Group – Russian Marketing and Advertising Agency. To find out more about Digital marketing in Russia download the White Paper for free here.

 



from Smart Insights http://ift.tt/1eeht2I
via IFTTT

B2B Lead scoring criteria [Infographic]

How does your lead scoring rate against this benchmark?

Integrated 'SMarketing' is more than generating enquiries to pass them onto your sales team; leaving the ball in their court to qualify the leads, identifying if they are serious buyers or just researching. Qualifying these leads with the help of Lead Scoring Tools is proven to support companies not only to be more efficient, but to connect 'with sales-ready leads', so boosting conversion.

By setting scoring criteria for your leads, your Sales team can reach out at the right time in the buying cycle, with relevant information and more likely to convert as they will communicating with serious leads, ready for more information'.

Lead Lizard's lead scoring summary identifies which companies are adopting this process, their objectives for lead scoring and which is the most valuable asset when scoring.

Lead-Lizard_infographic_lead-scoring_0314_v3-r

Read our Marketing Automation Guide to find out how to score your leads and build this into your MA system.



from Smart Insights http://ift.tt/1HpI20x
via IFTTT

venerdì 26 giugno 2015

Local consumer search behaviour [Infographic]

How do consumers search for local products and services?

Google and IPOS research shows American shoppers are searching on their mobiles for local store information, including opening hours, address and directions. This has implications for Advertisers to ensure the right information is available!

4 in 5 consumers are using search engines to find local information, and 18% of local smartphone searches result in a purchase within a day.

The infographic highlights 4 important tactics for retailers to embrace:

  • 1. Ensure Ads include your address and directions, across all devices.
  • 2. Tailor copy to take account of local searching.
  • 3. Build an attribution model for local searches.
  • 4. Use radius bidding and local bid adjustments.

understandingconsumer's_local_search_behaviourDownload the full Infographic to find out more information from this American research on Local consumer search behaviour.



from Smart Insights http://ift.tt/1QTwTeO
via IFTTT

Social Media video wars

Facebook does battle with YouTube to be the king of online video

YouTube has controlled online video pretty much since its inception. There have been some challengers, but they have pretty much given up the ghost and concentrated on their niche. The platform has made stars of online talent who got in there early and understood their audience. And some of those have become very wealthy off the back of YouTube's ubiquity. But just recently there's been a sea-change that is a genuine threat to YouTube's dominance and this is happening quickly and as you read this.

Buzzfeed video

YouTube has always had its problems. You have no control over the data, the ad returns are poor (if you require them) and targeting is very difficult. However it is/was the place where people go to find out stuff, be entertained, look for advice and more. Pretty much every music video, TV episode is up there. For a user, YouTube is great but for the marketer and the media company it just doesn't do what is required.

Facebook has its sights set on YouTube and it's no doubt causing sleepless nights with the Facebook video experience. Originally you shared a YouTube link on Facebook and you kind-of got the best of both worlds. Maybe not so now. Uploading to Facebook's native player has seen some stunning results. Take Apple's 'The Song' ad… that has been viewed 20.9 million times against 3.5 million on YouTube (as of 12th June). In terms of engagement Facebook also come out on top 208k likes, 8.8k comments against YouTube 30k likes and they'd turned off comments. Facebook can point to other successful campaigns such as the John Lewis campaign. Facebook accounted for 77% of video shares compared to 23% YouTube.

Facebook video autoplays on user feeds and brands have been drawn to this. We are sceptical about this. Media companies have often been criticised for autoplay and rightly so as autoplay does not mean an engaged viewer. It seems that quantity of views is valued higher than quality.

The main caveat on this is that Apple and all other brands that use Facebook video, pay them to get viewers to see the videos. YouTube's are organic (you can tell easily if someone has bought views on YouTube) and that since the film's initial release Youtube have add 600k views to just a handful from Facebook.

Buzzfeed embrace Facebook

BuzzFeed Video, having championed YouTube in 2014, have thrown their weight into Facebook. With over 4 million followers and with views approaching million + and quite incredible engagement, this focus has paid off. BuzzFeed are a fantastic example to brands, to date the best examples of Facebook video success is in B2C but expect to see B2B brands embrace Facebook soon.

buzzfeed video
Twitter rolls out 30 second video uploads to posts

Twitter is rolling out its video programme in 2015. Currently you can post 6 second Vines and they have recently introduced 30 second videos that can be filmed, edited and uploaded from the Twitter IOS and Android apps. Twitter Amplify allows you to share longer video (from YouTube links for example). Twitter offers a more relevant environment against Facebook when it comes to B2B marketing and offers a more relevant range of business packages.

YouTube remains free. As a place to present your video from, within your own channel it is essential. However the additional targeting features offered by Facebook, Twitter and LinkedIn can now enable your video to be seen by the right people and in good numbers. All of these developments allow you to become a broadcaster. Publish, find your audience and promote across all social channels.

The opportunities to amplify your video have grown immeasurably over the last year and we will re-look at this regularly and update you with new developments and features (programmatic really can't be ignored any longer for example, that will be detailed in the next post). All in all it leads to very exciting possibilities for those of you looking to commission video.



from Smart Insights http://ift.tt/1QT6GNb
via IFTTT

The best ways to make your email viral? [#DigitalInsights]

New research from Litmus shows the type of content that encourages email forwarding

When was the last time you forwarded an email? It's natural for us to forward to family, friends and business colleagues, but how do you encourage it in email marketing? In the Digital Marketing world, developments happen fast, so it’s a fairly regular occurrence to see an email regarding a new feature or trend that you think it worth sending over to your colleagues so you all know about the new development.

We tend to associate ‘going viral’ with Social Media, but email also can have considerable ‘virality’, even though this is not always as obvious. According to this new research from Litmus ‘more new visitors were reached through email referrals that Facebook and Twitter combined’.

The study examined the forwards generated by more than 400,000 commercial email sends which achieved at least 500 opens between Jan 2013 and March 2015. You can download the full report, free here (registration required).

viral email study

What makes email viral?

It is far from easy to make emails go viral, with the median forwarding rate being a mere 0.3%. However, there are plenty of things you can do to massively increase the forwarding rates of your emails.

Segmentation and triggering

Of 200 emails from the top 1% of most shared emails, 13% were segmented and 16% were triggered. This compared to only 3% segmented and 5.4% triggered in the median group. So the most viral emails were 4 times more likely to be segmented and 3 times more likely to be trigger than your average email. Segmentation and targeting should therefore be a priority when trying to generate viral responses to emails.

Personalisation

Personalised content receives considerably higher forward rates than generic content. Of the top 1% of emails studied, 8.9% had personalised content, whilst only 2% of the average performing emails did.

Calls to action

Emails that contained a call to action that ask them to ‘share with your network’ were generally considerably more likely to be shared. The top 1% of emails were 13 times more likely to include this call to action than the averagely performing ones.

Useful content

The type of content contained within the emails themselves was highly important in determining forwarding rates. Emails about events were the most common among the top 1% best performing emails.

News and advice was the 2nd most common topic of highly viral emails, which makes a lot of sense. However this content has to be of extremely good quality to generate virality. The study also found the averagely performing emails also contained a lot of news/advice content, but this was getting shared far less.

Content Type: Viral Emails

Promotions and deals

Generally speaking, promotions did not get higher than usual forward rates, and were actually less likely to be the topic of the most viral 1% of emails than they were of averagely performing emails.

However the research reveals that promotions regarding new products/services or store openings do often perform very well. Emails regarding this kind of promotion were 6 times more likely to be in the top 1% of emails. Emails regarding free trails also performed exceptionally well.

How to make your emails viral

So, we’ve seen from the results that certain tactics and content can make your email much more likely to be shared. The key things you need to do to achieve better forwarding rates with emails are as follows:

  • Target a niche audience and personalised - Targeted messages are generally at least 90% more viral than un-targeted messages.
  • Create highly shareable content that contains great advice, fascinating news or truly exceptional offers.
  • Use calls to action where appropriate to spur forwarding.

If you are interested in optimising your email marketing then our Expert Member guides and templates on email marketing take you through everything you need to know to run effective marketing campaigns.



from Smart Insights http://ift.tt/1FEnn3c
via IFTTT

giovedì 25 giugno 2015

The State of Marketing Automation 2015

Marketers agree Email Marketing Automation is the future, yet 4 in 10 automation programmes Fail

Email marketing is one of the top two channels for realising ROI yet email marketing budgets are declining. Alongside this, the use of Email Marketing Automation is becoming less effective - how do we know this? Econsultancy's Email Marketing Industry Census 2015, produced in partnership with Adestra has conducted research. After nine years of surveys, they bring together a wealth of information to show how email marketing has changed and the views of over 1000 in-house marketers, and experts.

How are companies using Marketing Automation?

48% of respondents with a email marketing automation rated its capabilities as 'basic' and 9% as 'non existent':

MA Capabilities from company research

What are the barriers to effective email marketing automation?

Companies realise that MA is important yet there still appears to be many barriers or challenges to overcome. The report unfolds that email marketers need to be efficient with their resources and more effective. More than 1/2 of respondents agreed that the lack of a  'quality email database' was a barrier to this as show in the graph below, along with a lack of strategy and integration.

barriers to effective email marketing

Reasons appear to be due to the capabilities of the system as outlined.  With limited access to a unified database and lead scoring appear to be lacking for many companies. Could this be due to financial constraints with basic systems or a lack of training and understanding of how to use these?

MA capabilities

You can download the report from Adestra to read the comprehensive findings (registration is required).



from Smart Insights http://ift.tt/1SNnfrp
via IFTTT

Stay goal and customer driven, when planning your content strategy

How to build your content marketing strategy?

When the Content Marketing Institute (CMI) recently surveyed businesses about the state of their content marketing strategies, the findings were revealing – nearly two-thirds reported that their organisations did not have a documented strategy. However, for those working in the industry, this statistic wasn’t a great shock.

'I continue to look at that number and shake my head!' says Joe Pulizzi, Founder of the Content Marketing Institute. 'It doesn’t surprise me, though. I do speeches every week and I’ll ask them that question: how many of you have a documented content marketing strategy? And I’ve never gotten more than 40% of the audience responding ‘yes’, even in what I would call advanced audiences.'

Yet with the CMI study also revealing that those with a documented strategy were more effective in nearly all aspects of content marketing compared with those who did not, this is clearly an area that should be prioritised for improvement.

'A properly structured, well researched, and defined content marketing strategy is not only highly desirable, it is an essential ingredient to a business’s success,' emphasises Adam Vowles, head of content and outreach at SUSO Digital. 'The strategy needs to be interwoven into every step of a content marketing campaign and form the backbone of the decision-making process.

'The strategy allows management and decision-makers to clearly understand the bigger picture. This gives marketer’s increased breathing room during the critical early stages of the campaign e.g. moving targets from unaware to aware.'

Jamie Toward, Head of Content for MEC, adds: 'Most brands are looking to establish an ongoing relationship with target audiences to convert them into long-term customers. Without a robust strategic framework marketers are unable to increase the richness of that relationship over time, to create more of what their audiences respond to and to deliver it more effectively. Taking a tactical approach never allows this richness to be achieved and a series of unrelated tactical activities means brands never learn how to make things better next time. Without a strategic framework that allows brands to learn, tactical activations simply represent wasted investment.'

content-marketing-martix

What to consider when planning your content strategy?

Audit

A good place to start is to establish what content marketing capacity the organisation already possesses. This could involve a content audit, allowing an organisation to understand the sources, nature, subject, relevance, timeliness and format of the content they already possess. But this is only half the process, because understanding what you’ve got is not the same as understanding what you need.

'To achieve that, there’s a need to interrogate the analytics of how the current content is performing, to conduct quantitative and qualitative research into what content the desired audience consumes, how they consume it and how it changes their behaviour,' explains Toward.

'By understanding this, it’s possible to complete the gap analysis and create an editorial lay down over time that will deliver what the audience wants, while threading the brand message through the content.'

This work alone isn’t enough by itself to prepare you to develop a content marketing strategy, however. It needs to be coupled with a stakeholder audit which allows brands to understand why stakeholders in their organisation are producing content, how they’re producing, for whom and crucially how they intend to distribute it.

'By conducting this audit a business will understand its internal landscape; capabilities, skillsets, technical platforms and existing processes,'  continues Toward. 'Completing this work will allow a business to create a single, cogent, process for the extraction and creation of data driven insight, in turn driving both creation and distribution and ultimately leading to success measurement and ongoing optimisation. Without this process design, marketers will find themselves continually mired in tactics, and failing to reach the value growth over time that can be achieved through a powerful content marketing strategy.'

Targets

With this groundwork done, the organisation can now start building the strategy by establishing a set of clear targets that it wants to achieve with the content marketing programme. Marketers need to be very clear about the business and communications objectives of the activity at the outset.

'A set of clearly defined goals and targets gives the campaign validity as it gives a set of criteria to measure the level of success. This is turn allows opportunities to be built upon in future campaigns,' says Vowles. 'Even the biggest companies have to be highly targeted with their content marketing. A ‘one size fits all’ strategy simply does not work. Make your best customers your targets at the beginning and then widen your net once you have additional resources.'

Research

The next step in the strategy is for the brand to ensure that it understands its target audience, as this is essential to ensuring that it can create content that will interest and inspire them.

'To undertake a content marketing strategy you must understand your target market,' notes Vowles. 'Who they are, what their interests are, what problems they have, what content they like, what content they do not like, what are their passions, what are their dislikes, what your competitors doing, what are successful companies doing in different verticals, and what influences customers in their buying decisions. Once you understand this, the challenge of content marketing becomes a great deal easier.'

This process could involve creating personas for the audience.

Sylvia Jensen, Director of EMEA marketing, Oracle Marketing Cloud, says: 'Define who the people are that you are trying to reach, what is important to them and what action you want to inspire in them by creating target ‘personas’. Put these persona characteristics in writing and keep it front-of-mind as you define your approach.'

Be as detailed as possible. Tools such as BuzzSumo enable businesses to find out what content has worked well in any sector, by highlighting the most shared content on social media. Brands can also monitor forums and industry blogs to understand their audience’s desires, needs and interests. This helps to identify common issues within the industry which can be turned into top of the funnel content.

Remember, solving problems is a great place to start with content marketing as it drives traffic and build trust.

Goals

With this work done, marketers can now drill down into more specific goals, which should then be documented in the strategy.

They should think about what they want the content to achieve. Simply creating content for content’s sake is a poor strategy. They should think about what stage of the buying process is being targeting.

'The ultimate goal is always to convert targets into customers,' says Vowles. 'However, you need to implement smaller realistic goals such as site visits, capturing an email address or signing up for a free trial.'

Kathryn Dawson, Creative Director at Strategy Digital, adds: 'A content marketing strategy should set out a number of SMART (specific, measurable, actionable, relevant and time-specific), objectives relating to what needs to be achieved, who will complete each activity, within what timeframe and measurements of success.

;Failure to set out these guidelines at the outset and simply rely on a more tactical approach would mean far less opportunity to understand how the methods used are meeting the objectives set out, to optimise those most successful and avoid repeating anything which doesn’t achieve a great deal of traction. Furthermore, a lack of groundwork researching and understanding target audiences and platforms and simply moving from one tactic to another could prove incredibly wasteful through time and effort put into content which gains no traction.'

Interaction

With the customer personas mapped out and the measures of success defined, the strategy can now outline an informed plan of interaction with the audience, planning the content strategy to target them accurately.

A typical journey will take the following steps:

  • Unaware
  • Aware
  • Interest
  • Research
  • Purchase

Brands should target their campaign to follow these steps and help move the target down the list.

The groundwork that has already been done will also ensure that marketers know the kinds of interaction that are most appropriate throughout the journey.

Vowles explains: 'The research and buying personas should give you an indication of how receptive your target audience will be to different forms of contact. This is completely dependent on your audience and your service. Some customers may find you organically through a search engine, others may click on your ads, and others may be better suited to a phone call.'

As part of this, brands could draw up an editorial calendar.

'Build a six-month calendar based on a mix of keyword-driven topics, and some purely creative ones that your gut tells you customers will appreciate,' recommends Jensen. 'You will also need to consider the stages of the buying cycle and what channels you want to deploy the content through. Then, as you review your analytics, refine the calendar to deliver more of what appeals to your customers and less of the stuff that isn’t getting traction.'

A robust platform to build your content marketing

Other factors to take into consideration in your strategy should be ownership of content marketing ('Appoint a content leader and build a team,' says Jensen. 'A good leader will play a crucial role in helping you bring together and manage a strong group of content experts as well as all your other sources of content.') and ensuring you have a technology platform in place to support your programme ('The content production process currently employed by most organisations has been chaotic and manual, at best, often involving a slew of disjointed tools that lead to work overlaps and missed opportunities,' warns Jensen.)

With all of this baked into the strategy, the organisation will have a robust platform on which to build content marketing success.

'Developing a robust content marketing strategy is essential as content is now the crucial factor that underpins digital marketing such as SEO, social media, advertising and PR,' emphasises Dawson.

'A coherent strategy will develop content starting with comprehensive research on the audiences and platforms for sharing the content, then develop it based on the requirements of those audiences and platforms, making it as appealing as possible.'

She summarises: 'A content marketing strategy should first define these audiences, key messages to be conveyed and methods or formats for appealing to them. It will also set out a number of SMART (specific, measurable, actionable, relevant and time-specific), objectives relating to what needs to be achieved, who will complete each activity, within what timeframe and measurements of success.

'Failure to set out these guidelines at the outset and simply rely on a more tactical approach would mean far less opportunity to understand how the methods used are meeting the objectives set out, to optimise those most successful and avoid repeating anything which doesn’t achieve a great deal of traction. Furthermore, a lack of groundwork researching and understanding target audiences and platforms and simply moving from one tactic to another could prove incredibly wasteful through time and effort put into content which gains no traction.'



from Smart Insights http://ift.tt/1LwFUXo
via IFTTT

Announcing the new Smart Insights Marketplace

Improve the visibility of your digital marketing services

If you supply digital marketing services, as a consultant, agency, vendor, or if you have created a useful service for marketers, then our Digital Marketing Marketplace is the perfect place to showcase your product or service and generate relevant leads.

Smart Insights readers are hungry to learn about tools and services available to improve the effectiveness of their digital marketing. Learning how to improve their digital marketing is why they are on our site!

Smart Insights Marketplace

Unlike other supplier directories

A listing on the Smart Insights marketplace will get your business seen by our readers, because unlike other supplier directories, the Smart Insights marketplace is integrated throughout our site giving contextual listings of services. So, if a member is reading about Email marketing or Marketing Automation, they will be recommended tools and services in this area as shown here:

Email Marketing

Within the marketplace there are options to search by location and vertical sector too, so you will feature more highly as searchers drill-down to look for services.

How will this help my business?

Suppliers with enhanced profile listings benefit from being ranked at the top of the listing, more detailed profiles in multiple categories and a link through to services pages on their site. They can also contribute blog articles to the site to help position themselves as an opinion former.

Smart Insights has over 125,000 registered members and with over 2 million visits each year, we have been rated as the second-largest UK-based blog, but have a worldwide audience. So no matter where you are based, you can be sure your marketplace listing will be being seen by relevant people in your region. What is more, over 60% of our users are business decision makers, with the word director or manager in their profiles.

Get started today with a standard listing

You can be featured in the the marketplace for free by creating a standard listing including web address, but this option does not allow you to add a business logo or link to your site to get relevant clickthroughs from us.

Enhanced listings

By purchasing an enhanced listing you will be able to add a link and logo plus customer testimonials to your site. You can also feature in 5 service types and 5 service sectors, and you will benefit from a higher ranking in listings. This will mean your listing will get more traffic than a standard listing.

By purchasing an enhanced listing, you also have the option of receiving a Smart Insights review of your service, enhancing your reputation with a recommendation from an un-biased third-party who is respected in their industry. In addition the enhanced listing gives you the option of submitting 1 blog posts to us per quarter, which if they are relevant to our members will help you tap into our readership of over quarter of a million monthly unique visitors.

Find out more and start setting up your Smart Insights marketplace listing » Click Here.

 



from Smart Insights http://ift.tt/1GzLSiV
via IFTTT

mercoledì 24 giugno 2015

What are the Big Challenges of ‘Big Data’? [#DigitalInsights]

Skilled staff and budgets are still obstacles for many companies

With the ongoing interest in applying Big Data to marketing we thought this was a useful report to share - IDG Enterprise’s '2015 Big Data and Analytics Report' surveyed over 1,100 brands in the UK and Australia to find out which stage they are at in terms of planning or deploying 'Big Data' projects and to reveal their plans and challenges this year.

The report identified that the top 3 priorities for the majority of businesses is to invest in analytics, visual dashboards and data mining. Challenges were still prevalent for many companies who felt they were lacking in-house technical skills, so as a result are looking to hire 'Business Analysts' and 'Data Architects' to facilitate this if they can obtain the budget - yet another obstacle to overcome.

2015 big data and analytics

2015 big data and analytics

2015 big data and analytics

2015 big data and analytics

SourceIDG Big Data report

You can read more about their research in their here, or request the report direct from IDG Enterprise.



from Smart Insights http://ift.tt/1Ie1kXw
via IFTTT

Are digital marketers offering too many choices?

Web users are becoming paralysed by the psychology of indecision as a result of being faced with too many options to choose from

I believe digital marketers are offering too many choices to their website visitors. Visit almost any web page these days and you will be faced with a myriad of choices. You can choose to read something, or sign up for follow-ups, or perhaps watch a video. Alternatively, you could choose something else to click on, look at an advert or go to the menu and choose something else. What are you expected to do? There are just too many things to think about.

Making choices

The situation is worse in e-commerce stores. You are faced with row upon row of products to choose from, probably from a selection of a dozen or more different categories.

Website owners and digital marketers appear to think that providing so much choice is fantastic. Never before have we been offered so much variety. Never before have we had so many things to choose from. Never before have we been so confused.

People find it hard to choose

When human beings are faced with a choice, they actually find it difficult to make a selection. The ease of choosing decreases as the number of choices rises. Research from Erasmus University, Rotterdam, found that our satisfaction rose as we were offered more choices but fell dramatically when those choices became “too many” for us to cope with. Interestingly, the study showed that there were some personality differences in our response to choice. Some people love a lot of choice, whereas others are satisfied with only a limited selection. Even so, these two extremes of preference had significant overlap, with the number of choices being “too many” being pretty similar for both extremes.

What this really means is that stores like Amazon could probably sell even more than they do if only they reduced the choice available. It is counter-intuitive, but the research is pretty consistent – the more you offer people, the more difficult they find it to make a decision. Indeed, that is the entire thesis of the book, The Paradox of Choice.

Digital marketers, however, know the value of “The Long Tail” which would appear to conflict with the notion of there being too much choice. The Long Tail theory shows that the Internet has helped niche products sell thanks to the greater availability of choice. Plus websites with vast arrays of choice, like Amazon, Google or even Facebook, appear to be doing rather well. Surely if humans had real difficulty with selecting from a vast amount of choice, such websites would not succeed?

In fact, the Long Tail Theory and the Paradox of Choice are saying pretty much the same thing. We love variety, but we find it hard to distinguish between assortments when there is so much of it. The Long Tail allows us to find small selections out of thousands, even millions of options. At the same time, the Paradox of Choice suggests that we find it easier to choose between the possibilities when there are so few of them.

Multiple small choices are better than one big choice

In practical terms, what this means for digital marketers is ensuring that whatever customers are faced with it is “drilled down” to only a small amount of choice.

Imagine you sell pencils. There are thousands of different options of pencils. You can have pencils with rubbers, without them. There are hard pencils and soft pencils. You can have round pencils or triangular ones. You can have wooden pencils, propelling pencils or even pencils inside plastic. You can have one pencil, five pencils or a hundred pencils in a pack. I could go on and on. One popular stationery supplier online showed me 326 different pencils. Another had 356 of them. How are you meant to choose?

Breaking down pencils into categories helps. Our brains love to categorise things; it is a fundamental part of the way in which we can cope efficiently with the world around us. So, as soon as a website offers us categories, we find it easier to choose.

Hence, if I typed in “pencils” into a stationery website instead of it offering me 356 different options, it would be better to ask a question. Do you want wooden pencils, propelling pencils or pencils made of plastic? In other words, it gives me three choices – not 356. No longer is a visitor like me suffering from “analysis paralysis” but they have simple choices to make.

Let’s imagine that I want wooden pencils. So I click on that choice to be faced with another array of choices such as whether I want round pencils, triangular ones or the hexagonal type. I might choose “round”. Then I am faced with more choices, such as “hard”, “soft” or “medium”. I select “hard”. Then all I’ll be able to choose from is the 12 different options available to me. Instead of having to sort through 356 and getting confused, a visitor like me is now left with a clear choice.

The Long Tail has enabled such a wide variety of pencils to be available online, but without this “drilling down” approach to selling, the choice would be overwhelming.

Far too many websites make it difficult to choose. That leads to high bounce rates as well as loss of business. Limiting the choices you provide will increase sales, not decrease them.

Reduce your choices to sell more

Six jam jars

In this classic, oft-quoted study of the sales of jam, psychologists from the University of Columbia offered people the chance to get a discount coupon if they sampled the various jams on display. On day one there were 24 varieties of jam available. On day two of the study, there were only six varieties of jam available. There was a dramatic and significant difference in the amount of jam sold. When there were 24 varieties on offer only 3% of people used their coupons to buy some jam. However, when there were only six jams on sale, 30% of people bought some.

The notion of reducing choice also extends to web pages and their design. A Finnish-based hardware store, Taloon.com, decided to test the effect of removing social sharing buttons from its web pages. What they discovered was that sales conversions went up when social sharing buttons were removed. Sales went up by almost 12% when the social sharing buttons were absent from pages. The reason for this is choice confusion. The website visitor doesn’t really know whether they are meant to share the page or click the buy button. Too many options on a web page just leads to choice paralysis.

We might think we all want as much choice as possible, yet study after study confirms that when we are faced with choices we find it difficult to make a decision. From a marketing perspective, this is a problem because the more choices we have available, the less likely we are to be able to sell them. Yet consumers continue to demand more choice.

There are two other factors that cause a problem for marketers. One is known as “preference uncertainty” which essentially means that when people are faced with a wide assortment of choices, they begin to doubt what they wanted in the first place. In other words, when you provide potential customers with a large number of choices, they are less likely to make a decision to buy because they have started to doubt that what they wanted in the first place was the right thing.

The second issue is what is known as “anticipated regret”. This occurs when we fear missing out on something, so the more choices we have, the more we get concerned about the negative consequences of not buying one of those choices. The result of that is we find it easier not to buy anything because if we do make a selection we worry about what we missed out on by not choosing one of the many alternatives.

Digital marketers and website owners want to offer as much as possible to their visitors because of the need to be seen to offer a wide variety of choice and to have that “long tail” of goods and services. Serving up all that choice at once is working against companies. Far from increasing sales, the ever rising availability of choice on websites is harming businesses. It is time to start reducing the choices available to your website visitors.



from Smart Insights http://ift.tt/1SJssAC
via IFTTT