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Michael Vorel, CEO of Vastplanet.com presentation on: Ecommerce Trends & Conversion Strategies - Learn from the Leaders. Discover current trends in ecommerce and find out who the market leaders are and why they are successful. The session is perfect for the prospective online store owner, existing store owner or internet marketer to better understand what's needed to succeed in today's online business.
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E-Commerce Trends & Conversion Strategies
Michael VorelCEO, Vastplanet Corporation 2.28.10
Who is Michael Vorel?
CEO / Founder Vastplanet Corporation, 1998o Ecommerce Developmento Internet Marketing Managemento Affiliate Marketing, SEO, PPC, Social
Media, Email, Videoo Consulting
10 Years experience in computer industryo International product marketing, sales,
marketing, purchasing & management
Agenda for Today’s Presentation
E-Commerce Todayo Market Conditionso Consumer Trendso E-Commerce Leaderso Conversion Techniqueso Action List
5 Winners! 1 Hour of Consulting
2 Ways to Win! Tweet about the session with @michaelvorel or
@vastplanet & #nle in your post. Submit a Question during the presentation. 5 Random Winners
What Can you Win? 1 hour Private Consultation session. We can discuss your e-commerce store, internet
marketing, business idea, social media, email marketing, affiliate or new business strategy.
No Strings attached!
BUSINESS
Ecommerce
MerchantAffiliate Affiliate
Search Engines
SEO, PPC, Other
Social MediaTwitter/
Facebook Mobile Other
DIRECT DIRECT
DIRECT DIRECT
CONSUMER
Ecommerce Today
Source: Internet Retailer 2009 Edition
Market ConditionsRevenueTop 500 Merchants Revenue $115.8B (+11.7%) Top 100 Merchants Revenue $98.6B (55% of
total) Amazon Revenue $19.17B (+29.5%)
Trends Economic Forces Luxury Returning & Necessity is In Winners Investing in Technology Social Media Impact Mobile changing landscape
Source: Internet Retailer 2009 Edition
What’s Selling? Categories Rising
Apparel / Accessories Food / Drug Health / Beauty Mass Merchant
Categories In Decline Teen Clothing & Accessories Hardware / Home Improvement Housewares / Home Furnishings Flowers / Gifts Toys / Hobbies (rising) TIP – Add Rising Categories
What Categories Lead?
Holiday Shopping 2009Heavy Pre-Holiday Offers, Free ShippingTraffic to Coupon Sites (+76% Nov)
(Coupons.com, EverSave.com, RetailMeNot.com4 out of 5 online in U.S. visited a retail site (Nov)$913 million on Tues - Dec 15 (Record)9 days this year, consumers spent $800+ Million
in day48 Days of Online Shopping = $24.8 Billion (+4%)Largest sales days – midweek
Data Source – ComScore
Holiday Shopping 2009 Toys, Consumer Electronics, Department Stores,
each growing more than 30% vs. October 09 Toys Category (+33%)
ToysRUs, LEGO, Disney, American Girl Consumer Electronics (+32%)
BestBuy, Walmart, RadioShack, eBay, Buy.com Online Department Stores (+33%)
Walmart, Target, Sears, JCPenny, Macy’s
Data Source – ComScore
Holiday Shopping 2009
What Can You Add?
Who Should You Watch?
E-Commerce Trends
Personalization Mobile E-Commerce Segmentation Behavioral Profiles Social Media (Facebook, Twitter) Building Loyalty Enhanced Search & Navigation Product Reviews Video Shopping Guides
Personalization (You, Your)
Welcome, Michael Vorel Recommendations for You (behavioral learning) Your Browsing History (cookies & account registration) Rate These Items (social media, reason to return) Remember You Saved these? (wishlist) Your Communities (social media) Want to See Today’s Deals? (Conversion) Individual Treatment Creates (Loyalty)
Mobile E-Commerce
Personalization Sync with Account Payment Integrated Product Reviews Select Products Conversion
Segmentation & Behavioral Profiles
Market Individually Create Email Alerts Convert Later Compile Profile Record Everything Convert Now Tip – Segment Emails
Follow-Up Emails
Should be Personalized Reminds them of purchase Related Products Up-Sell Conversion Alternatives Tip - Include
Coupon Twitter FaceBook Fan Club
Sharing is In
Email Sharing Facebook, Twitter,
Other Creates
CommunityOpportunityConversion TIP – Sharethis.com & Addthis.com
Social Media (Facebook 5.5% share)
Navigation Reduce Clutter Organize by
Popularity TIP - What Sells?
Video is Rising!
Online Video Viewers spend 13% more!
Video Product Demos Buying Guides Video Tour Top Sellers Live Video Tip – Buy Flip Cam
Buying Guides Work
Video Library Featured Articles Involve Customers Help & Advise SEO Advantage TIP – Use Feedback
Amazon.com – Conversion Experts
2008 Sales of $19.1B (+29.5%) 275M visitors/mo (56.5m unique) Converts 3.45% Avg. Sale $170
Traffic Comes from: Search Engines (32%) New Shoppers (30%) Return Shoppers (70%)
Amazon.com – Formula
Low prices + Great Selection Free Shipping Offers Amazon Prime (loyalty) Personalization to highest degree Combination of account history
and behavioral learning to convert Combines multiple merchants
Amazon.com – Related Conversions
More Items to Consider Related to Items You Viewed Inspired by Browsing History Additional Items to Explore Inspired by Your Shopping Trends Customers with Similar Searches Your Recent History Your Recent Searches Tip – Add Recently Viewed
Walmart.com
Visual vs. Text Approach Shorter Navigation Seasonal Approach Connect With Others Like
You Save Money, Rollbacks Value of the Day Ship to Store (Tie Local)
Apple.com
Visual Image Sell Cross Sell, Up-Sell Stay & Learn Free Shipping
Charlotte Russe
Social Shopping Visual Shopping Community Contests
Crutchfield
Heavy Content Live Agents Image vs. Text Learn!
Zappos – Bring it All Together
Reviews Images Related Sharing Shipping Wishlist
Ecommerce Strategies to Implement
Basic
Condense Navigation
Integrate Social Media
Segment Customers
Add Shopping Guides
Create Best Sellers
More Visual Approach
Create Video
Add Live Help
Advanced
Personalization
Account Registration
Enhanced Search / Navigation
Mobile Applications
Cross Sell & Related Items
Email Alerts
Loyalty
International
