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Conversion is King Technologies and trends that will transform your conversion rate in 2014 Thursday, 13 February 2014 Google Campus, London

Conversion is King' Exclusive eCommerce Event Decks

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As Conversion Rate Optimization becomes one of the hottest focus areas in ecommerce in 2014, Nosto brought together a group of top industry experts to Google Campus London on Feb 13th 2014, to guide retailers through the ever-changing landscape of ecommerce and provide them with some actionable DO'S and DON'TS to increase conversion rates and boost revenues. Presentations featured: 'Is understanding how your customers find you the key to conversion?' by Andrew Buckman – Chief Strategy Officer, Tradedoubler 'The Power of Consumer Reviews: Using genuine feedback to increase conversion' by Paul Squires, Retail Sales Manager at Feefo 'Everywhere Commerce: Converting impulses from visual content into sales' Jaakko Iso-Jarvenpaa, Senior Partner Manager at Kiosked '14 Must-Haves for 2014. Move your messaging forward.' by Kestrel Lemen, Marketing Strategist at Bronto Software Hosted by Isaac Moshe, Managing Director, UK at Nosto Solutions

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  • 1.Conversion is King Technologies and trends that will transform your conversion rate in 2014Thursday, 13 February 2014 Google Campus, London

2. Ecommerce Personalization Solution Nosto helps over 500 retailers across Europe deliver their customers a personalized shopping experience 3. The Impact of Personalization 4. Analysis: Q4 2013 Onsite Recommendations65% Greater conversionPersonalized Emails2.2x Greater than industry average 5. Why are we all here today? Retailers spend 90% of their marketing budget driving traffic to their stores. ! But when customers get there... Greater conversionHuge opportunity cost! 6. Todays Agenda 16.10 - 16.35: Is understanding how your customers nd you the key to conversion? (Andrew Buckman, Chief Strategy Officer at Tradedoubler)!16.35 - 17.00: The Power of Consumer Reviews: Using genuine feedback to increase conversion (Paul Squires, Retail Sales Manager at Feefo)Greater conversion 17.00 - 17.25: Everywhere Commerce: Converting impulses from visual content into sales! !(Jaakko Iso-Jarvenpaa, Senior Partner Manager at Kiosked)17.25 - 17.50: 14 Must-Haves for 2014. Move your messaging forward. (Kestrel Lemen, Marketing Strategist at Bronto Software)!17.50 - 18.00: Q&A and Closing Remarks (Isaac Moshe, Managing Director UK, Nosto Solutions)!18.00 - 19.00: Networking reception with drinks and canaps 7. Greater Is understanding how your customers nd you conversionthe key to conversion? !Andrew Buckman, Chief Strategy Officer at Tradedoubler 8. Is understanding how your customers find you the key to conversion? Tradedoubler Insight Unit Andrew Buckman Chief Strategy Officer Tradedoubler 13 February 20141 9. The e-commerce and m-commerce opportunity E-commerce growth shows little sign of slowing down. Consumer spend online in the UK will grow by an average of 10% a year from 96bn in 2012 to 141bn in 2016. And this growth will continue to be fuelled by smartphone ownership.Smartphone ownership in the UK will increase by 22% a year to 42 million in 2016.242millionSource: eMarketer Western Europe B2C Ecommerce. February 2013. Worldwide Mobile User forecast. August 2012. 10. Set against this backdrop of continued growth, our research looked at how and where performance marketing presents opportunities in the online customer journey.2,500 online shoppers with smartphones. 411 in the UK 38 countries representing 89% of Europe retail ecommerceOnline and mobile research and purchase behaviour 11. The online purchase journey 4 12. Online research is hugely popular across many different product categories RESEARCH PURCHASE60% 50% 40% 30% 20% 10% 0%5Research & purchase on PC or laptop. 13. The e-commerce evolution across sectorsSECTORS MOST LIKELY TO CONVERT Music 103%Events 102% Apparel 99%Online shopping is no longer just the domain of books, music and flights. Conversion to purchase now happens across many different categories, many of which have traditionally been try out or try on items.Flights 95% Groceries 92%Gambling 92% Train tickets 92% Hotels 91% Beauty products 87%Movies 83% 6% who research & also purchase (very often/sometimes). 14. Monthly online purchase behaviour: PC is still the winner, but mobile and tablet are catching upVALUE FREQUENCY736 2Tablet figures based on tablet owners.87 420 1 15. Performance marketing is embedded throughout the purchase journey, so for advertisers, a presence on these channels is vital to secure a place in the consideration set8 16. Performance marketing channels drive purchase decisions... 93%66%60% 49%48%47%41%35% 24%9Types of site used to make purchases (very often / sometimes). 17. ... but performance marketing also drives the start of the process at the research stage96%90% 80% 67%1066%59%56%56%51%44%38%Types of sites used in purchase research (very often / sometimes). 18. Conversion behaviour across types of channels As well as being popular for purchase research, performance marketing sites are also highly likely to convert research into purchase.CHANNELS MOST LIKELY TO CONVERT Retailer 97% Daily deal/group buying 93% Cashback 93% Loyalty or rewards 90% Coupons/voucher code 82% Price comparison 82% Sector-specific content - 73% Blogs 63%General content - 62% 11% who research & also purchase (very often/sometimes). 19. The growing importance of mobile throughout the shopping process12 20. Mobile has become the anytime, anywhere digital shopping assistant Mobile is the default option for internet browsing almost everywhere, making the desk at home or work the last refuge for PC browsing. Mobile is becoming central to purchase behaviour too. Mobile use on the high street provides significant opportunities for performance marketing.13 21. Mobile beats PC for browsing everywhere except the desk 66%HomeShoppingEating out94% 65% 3%Work14PC/laptop 61%4% 50%HotelTravellingMobile17% 47% 3% 43% 45%Locations where users browse the internet on a mobile.CONVENIENCE OUTWEIGHS SCREEN SIZE 22. Widespread second screening underlines the need for a multi-platform marketing strategy52% % 48 second screen using mobiles15used mobiles to buy something after seeing an ad on TV32%use mobiles to find out more information after seeing an ad on TV 23. Footfall doesnt guarantee a sale How people use their mobile when they are out shoppingMobile use in store disrupts the purchase journey, so defensive and offensive mobile strategies are required.Purchase on mobile45%Buy in another store Buy online after researching more58% 60%Check for better price Look up information 1671% 71%How often do you do the following when out shopping? Very often / sometimes Based on all who use their mobile while out shopping 24. Mobile performance marketing strategies ensure retailers secure the sale48% download voucher62% search for voucher or discount on something seen in a store52% use vouchers received on mobile 17How people use their mobile when they are out shopping (very often / sometimes). Based on all who use their mobile while out shopping 25. Next steps18 26. Footfall doesnt Disrupting the purchase process guarantee a sale Retailers are increasingly aggressive when it comes to disrupting the purchasing process and 58%in store disrupts the Mobile use of consumers are use How peopleabandoning intended purchases through mobile use purchase journey, so defensive when out their mobile shopping. and offensive mobile strategieswhen they are out shopping High-street retailers:are required. Offline redeemable promotions In-store voucher codes Purchase Receipt-redeemable cashback 45%Online-only retailers:Buy in another store Hijack the high-streetBuy online after researching more Geo-targeted mobile campaigns58% 60% 71%Look up information 19Check for better price71% 27. Performance marketing drives research at the start of the customer journey User journey attribution 96%90%SINGLE VS MULTI PURCHASE CHANNEL 80%1 click67% 51%66%59%56%20% 29%3+ clicks202 clicks Certain publishers better suited to last-click wins model56%51% Consider44% value of the 38% publishers further up the purchase funnel Tradedoubler tracks multiple clicks prior to the saleTypes of sites used in purchase research (very often / sometimes). 28. CHANNELS MOST Conversion behaviour for last-click wins LIKELY TO Best practice CONVERT across types of channels used to identify individual 97% Product-level tracking can be Retailer products in basket & justify additional funding from your Daily deal/group buying 93% As well as being popular for suppliers Cashback 93% purchase research, performance Analyse time differences between click and purchase to marketing sites are also highly Loyalty establish which sites are driving more considered or rewards 90% likely to convert research into Coupons/voucher code 82% purchasespurchase.Price Protects margins and allows increased exposure comparison 82% Sector-specific content - 73% Cashback sites are more likely than even retailer sites to Blogs 63%generate a sale. 21% who research & also purchase (very often/sometimes).General content - 62% 29. Monthly online purchase behaviour: PC is still the winner, but mobile and the significant Addressing tablet are catching upin device spending variance Consider specific promotions for different devices, for example: Lower thresholds for mobile - 5 off 30 spend, free next day delivery, etc. For product-led promotions, display lower-value items Use A/B testing to identify which offers work best on which devices FREQUENCY 2 4 VALUE 36 8722Tablet figures based on tablet owners.1 20 30. How mobile drove incremental sales for theTrainline.com Mobile a key element of the programme Geo-targeted push notifications Incentivised check-ins Stretch cashback to incentivise higher customer spend26%Increase in order value34%23Increase in sales over the campaign period 31. SUMMARY Use devicespecific offersDisrupt the purchase journey with geo-targeted offers 24Protect yourself from disruption through mobile promotionsContent sites DO add value look beyond the last click 32. Action points Analyse your customers behaviour How much research do they do before making a purchase? What device do they use for Research/Purchase? What channels do they use? How much value does each link in the chain bring?25Dive deep into your numbers What are your traffic sources? How many sales do they bring? How much do they cost to bring those sales?Test, test, test Do mobile specific offers drive more volume? Can you target your competitors customers directly? Track everything Test some more 33. Andrew Buckman [email protected] @andrew_in_paris26 34. Greater The Power of Consumer Reviews: conversionUsing genuine feedback to increase conversion ! Paul Squires, Retail Sales Manager at Feefo 35. An Introduction to feedback and reviews 36. What Im going to cover today- - - - - - - - -Sales the changing landscape Current conversion buzzwords From Trampolines to eBay and Amazon Feefo Benefits of feedback the Power of Three Service and Product reviews the sweet spot Ask less find out more Avoid Fake reviews Be transparent /Case studies Dont Crash and Burn Top Tips 37. What Im going to cover today- Branding, what its about, what - A real world definition of a brand - Some advice for healthy living swamp ThisCustomer Word of mouth is the most powerful tool 38. Then along came the internet And it all changed 39. Buzzword s that aid conve rsion 40. Behavioral Analysis - (Targeted Offers) Email Personalization customer specific contact Chat - proactive chat, reactive chat, exit chat, and clickto-call Automated Guides better understand product features, and assist with the selection process Re-Targeting Identification of visitors interested based on previous search 41. Feedback Listening to your customers voice 42. Most people are honest. Give praise where it is due; make complaints where appropriate. ...we have an open forum. Use it. Make your complaints in the open. Let everyone know what a joy it was to deal with someone. Pierre Omidyarfounder 1996 43. The Power of Three 44. Google AdWords stars are a powerful way to increase clicks+17% 45. Feedback and reviews 46. Show your reviews prominently on your pageFeedback builds Trust 47. Get Social! 48. Show service and Product reviews 49. How many product questions?Fewer than you think 50. www.expedia.co.uk 51. Ask less Find out more 52. Dont Fake It! 53. ..companies should be aware that posting fake reviews is likely to be illegal (under consumer protection regulations) and could be subject to investigation by Trading Standards or the Office of Fair Trading.The Advertising Standards Authority 54. Why Showing reviews matters Problem A moving and storage company in the Pacific Northwest had strong conversion but external reviews on the company on Yelp and Google+ were few and far between. The client had collected customer feedback to help improve their business internally, and was not showing these comments. 55. Solution Walker Sands web team created a reviews page to capture the sentiment of the companys satisfied customers.The reviews were posted at a consistent frequency of 2-3 reviews per day. 56. The Results were overwhelming!Now over 1,000 customer reviews with an average rating of 4.5 stars Reviews page ninth most viewed onsite with visitors average of eight minutes interacting with site A dramatic increase in the conversion rate of visitors that engaged reviews pages. 57. Visitors that did not view the reviews page converted at 8.46 percent, while those who did converted at 15.4 percent! The the site began converting so well the company received more business in the summer of 2013 than they had since 2006. 58. Adding reviews to your site is one way we suggest increasing your sites engagement and conversion rate. Just make sure the reviews are authentic, and dont be afraid to include negative reviews. Katie Donabedian www.walkersands.com 59. Other reasons genuine reviews help increase conversion Fresh, unique content for search engines helps page ranking63% of customers are more likely to make a purchase from a site which has user reviews iPerceptions, 2011 Consumer reviews are significantly more trusted (nearly 12 times more) than descriptions that come from manufacturers eMarketer, February 2010 60. Feedback and reviews 61. Genuine testimonial after just one month we have already seen an increase in conversion rates from an average of 2.5% of visits to a current 4.98% (nearly 100% up) for January Nothing else has changed on the site and so we have to put it down to Feefo service and the additional listening to your customer to increase conversion John Hewitt www.bamfordtrading.com 62. Feedback and reviews 63. Genuine testimonial we understand the importance of being able to guarantee 100% genuine feedback as Feefo does. Our 92% Quality Score is a true testament to our continued commitment to improving the customer experience. together with Feefo we will be able to build on this further and faster in the future Stuart Newman www.expedia.co.uk 64. Dont crash and burn 65. Top Tips 66. 1. Power of Three 2. Ask Service and Product 3. Show Your feedback all of it! 4. Use a Google Partner! 5. Be Transparent respond! 67. Thanks for listening Any questions? 68. Greater Everywhere conversionCommerce:Converting impulses from visual content into sales ! Jaakko Iso-Jarvenpaa, Senior Partner Manager at Kiosked 69. EVERYWHERE COMMERCE Converting Impulses from Visual Content to Sales JAAKKO ISO-JARVENPAA SENIOR PARTNER MANAGER, Kiosked Ltd +44 7587 959796 ! 1 Sekforde Street ! EC1R 0BE London, UK [email protected] ! @ jaakko_ij www.kiosked.com 70. WELCOME!AGENDA FOR TODAYINTRODUCTION CONTENT DRIVING COMMERCE EVERYTHING IS A PORTAL FROM IMPULSE TO ACTION QUESTIONS? Kiosked copyrighted material 71. 1. CONTENT DRIVES COMMERCE The Rise of Video 72. ECOMMERCE GROWTH NO BIG NEWS1.3T$The global eCommerce market size is estimated to have reached in 201320%Of the global retail market is expected to come from eCommerce by 2020 and +50% by 2030 73. 1. CONTENT DRIVES COMMERCEContent builds relationships. Relationships are built on trust. Trust drives revenue. Andrew Davis, Author Kiosked copyrighted material! 74. 1. CONTENT DRIVES COMMERCEContent builds relationships. Relationships are built on trust. Trust drives revenue. Andrew Davis, Author Kiosked copyrighted material! 75. 1. CONTENT DRIVES COMMERCE72%Of marketers are using video today71%Of people say there is no better way to bring a product to life than video Kiosked copyrighted material!40%The increase in conversions (for video) compared to other content types90%Of the online population will regularly watch video by 2017 76. 1. CONTENT DRIVES COMMERCE Kiosked copyrighted materialTHE RISE OF VIDEO 77. 2. EVERYTHING IS A PORTAL From Multi-Screening to Omni-Channel 78. THE YEAR OF MOBILE AGAIN?28%Increase in mobile shopping on Cyber Monday in 201390% The percentage of screen based media interactions25%Of eCommerce market size is on mobiles by 201777%Time spent in front of TV and multiscreening 79. 2. EVERYTHING IS A PORTAL Kiosked copyrighted materialLARGEST GROWTH SEGMENTS ON SCREENS 80. 2. EVERYTHING IS A PORTAL Kiosked copyrighted materialFROM MULTI-SCREEN TO OMNICHANNEL 81. 3. FROM IMPULSE TO ACTION Interactive Content Becomes Reality 82. 3. IMPULSE TO ACTIONGive people what they want, when they want it, in the form they want it in. Kevin Spacey, Award winning actor & producer Kiosked copyrighted material! 83. 3. IMPULSE TO ACTIONWHAT IS EVERYWHERE COMMERCE? With Everywhere Commerce advertisers and publishers can connect with consumers at any point of time, on any device. Everywhere Commerce does not limit the consumer experience to any time or place, it is always on and available. Kiosked copyrighted material! 84. 3. IMPULSE TO ACTIONTURNING CONTENT INTERACTIVE 3. IMPULSE TO ACTION Kiosked copyrighted material 85. 3. IMPULSE TO ACTION Kiosked copyrighted material! Kiosked copyrighted materialINTERACTIVE CONTENT ACROSS ALL CHANNELS 86. 3. IMPULSE TO ACTIONINTERACTIVE APPS30-40% 8-12%Engagement Rates with the ad and the individual products are remarkable.! Kiosked copyrighted material!Action Rates are considerably higher than traditional ad formats.! 87. 3. IMPULSE TO ACTIONTURNING CONTENT INTERACTIVE 3. IMPULSE TO ACTION Kiosked copyrighted material 88. 3. IMPULSE TO ACTIONCONSUMERS ARE ASKING FOR IT!+12% The increase in time spent on site that has interactive content.50 X CTRs of interactive content compared to banner advertising. Kiosked copyrighted material!30-40% Almost half of all visitors engage with interactive content!40 % 40% of online consumers purchases are impulsive. 89. SUMMARYWRAP UPCONTENT DRIVES COMMERCE ! Is your content strategy up to date? ! Invest in video in 2014!FROM SCREEN BASED TO OMNICHANNEL REALITY ! The purchase funnel is no more, mobile is the core ! Reach your consumers in the right touchpointsINTERACTIVE CONTENT ALLOWS DISCOVERY ! Everywhere Commerce turn impulses into actions and put content to work! ! Join webinar on Interactive Video next Tuesday: http://goo.gl/bPlqAI Kiosked copyrighted material 90. QUESTIONS? 91. JAAKKO ISO-JRVENP SENIOR PARTNER MANAGER, Kiosked Ltd +44 7587 959796 " 1 Sekforde Street " EC1R 0BE London, UK [email protected] " @ jaakko_ij www.kiosked.com 92. Greater 14 Must-Haves conversionfor 2014.Move your messaging forward. ! Kestrel Lemen, Marketing Strategist at Bronto Software 93. Greater conversion 94. Thank you!www.nosto.com|[email protected]|@nostosolutions