Remember the old Apple ads – “There’s an App for that” — well, when it comes to building your ecommerce tech stack, that couldn’t be more true. There is a tool for every conceivable technological need an ecomm vendor or distributor might have. Last month we published part one in this series covering ecommerce platforms, CRM systems, Analytics, Accounting tools, Product Information Management, ERP setups and social monitoring.Retargeting
Need a way to get more sales out of the same number of site visitors? Installing a good retargeting program will allow you to turn one-time visitors into repeat shoppers by placing an invisible pixel on the customer’s browser through a cookie. This cookie, for lack of a better word, follows them around the internet where your retargeting tool can serve them your ads. This makes your advertising more efficient, by only targeting people who have already been to your site.
Industry standards say only about 2% of web traffic converts on the first visit. Retargeting give you a chance to reach the 98% of shoppers who don’t convert on that initial visit. Keeping your brand in mind is a great way to make sales.
There is no shortage of great retargeting tools, but you’ll need to do your homework to determine which is right for you. Start with AdRoll, Tellapart, Yieldify, and Perfect Audience. Google has a remarketing tool as well, but for bells and whistles look elsewhere.
Launching smart, information-rich campaigns to your regular customers and subscribers can make a massive difference to your bottom line each month. Unlike traditional outbound marketing, where you fight for eyeballs with radio ads, billboards, and Google AdWords, inbound marketing is focused on attracting customers through relevant and helpful content. The toolkit starts with your social media – particularly Instagram, Snapchat and Facebook – and your blog.
By creating content that your audience deems valuable and interesting, inbound marketing can win more, higher-quality, and more accurately qualified shoppers for your business. And the big benefit is that by offering great content, you can make your channels stickier than your competitors.
You can do the front-end of inbound without a specific tool, just get a good blogging program and manage your social well. But to maximize the returns from inbound you’ll need a solid tool like Hubspot, BloomReach or Autopilot. At the low end of the spectrum, you can even use something as simple as MailChimp.
Do they like you, or do they really like you? If you aren’t A/B Testing your content and shopping pages the truth is you’ll never know. There’s no excuse for being left in the dark when there are affordable tools that can give you insightful and actionable feedback.
A/B testing lets you serve your customers’ subtle variations in your content, on the fly. The results will tell you which version converts better so you can know for sure what wording or imagery to go with. You can test different product titles, descriptions, images, and more. Basically, if it exists, you can test it.
One of the hangups of A/B testing is the need for statistical reliability. If you only have a few hundred visitors to certain pages this form of testing isn’t all that accurate. For example, if you have 200 shoppers viewing a certain product where you are testing what product name converts better — you would only have 100 customers on either side of the test. Even if you had a 40% converting on option A, and 30% converting on option B, you haven’t really learned much you can rely on.
Nothing is more frustrating than a full cart that never makes it to check out. Losing money on nearly completed orders stings, but it happens to every ecomm store, right?
It happens a lot actually. In a study by the Baymard Institute, 67% of shopping carts are abandoned before they’re completed, while other studies put that as high as 81%. Scary! But just because it happens to everyone, doesn’t mean you can’t do something about it.
Every sale you can recapture, every extra cart that makes it to checkout, is money in your pocket. So it’s worth your time to find the right tech tool to turn hesitating shoppers into checkouts. Whether this is through offering incentives or discounts on cart closes or sending a well-timed recovery email reminder — whatever you can do to complete that sale is valuable.
Part three will be out next month where we’ll dive into ad tech, SEO optimization, and ecommerce loyalty programs.
AH: Ok, I get it, but isn't "content syndication" something that standards-based data pools solved decades ago?
JA: Good question but sort of like suggesting the covered wagon solved for the challenges of distributing physical goods. Times change and needs change. But, let me give credit where credit is due. In 1974 a number of innovative organizations came together to prove that with a machine-readable barcode and access to an organized data structure, the process of grocery check-out could be made more efficient. And, in June 1974, at Marsh’s Grocery in Troy, Ohio a pack of Wrigley gum was accurately scanned at check-out. Amazing stuff. Innovative. Transformational.
But we're in a different world today. That pack of Wrigley gum sits in the Smithsonian and Marsh's went bankrupt in 2017. Yet the organization - and the data structures supporting that transaction some 50 years ago - still persist today in the form of a standards-based database that needs to "synchronize" globally on a nightly basis. Brands, manufacturers, and retailers reliant on that sort of outmoded technology (and there are tens of thousands) are now challenged - and candidly, failing - to provide the type of rich, engaging, actionable data today's consumer demands.
Venzee was built in an era of cloud databases that persist globally with no need to "synchronize." We are API - which is code for “easy to connect with” - on inbound and outbound transactions. And, we leverage deep learning and other advanced tech to recognize, communicate, and resolve anomalies across the whole of the content distribution system.
AH: Impressive. But what does that mean for growth at Venzee?
JA: There are significant implications. Our goal for 2019 is to continue to grow our partner relationships and improve their clients content distribution. We are in the process of integration with our announced partners and expect those to go live.
And, while I don't have a crystal ball, I can tell you that our partner discussions and current engagements all tell us the content distribution pain Venzee eliminates is a critical challenge their clients need resolved to remain competitive.
If that is true - and I believe it is - then Venzee, as a modern, pure-play content distribution solution, is well positioned to facilitate the digital connection between brands, manufacturers, retailers, and consumers on a global scale. I don't exactly know how to assign a value to that statement, but if the choice for a brand or retailer today is between tech in the Smithsonian or Venzee, Venzee wins every time.
AH: Many thanks for your time John,
Please don't hesitate to reach out to me with any further questions or comments.
Arlen Hansen, President, Kin Communications Inc.