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Get your online store ready for the holiday shopping season

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Get your online store ready for the holiday shopping season

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Winter holidays and the pre-holiday season are known to be the busiest and most profitable time for most e-commerce sites owners. But are you sure that your business marketing strategy is helping you get the most out of this year's festive season? Get your brand ready for the best time of the year with our webinar.

Winter holidays and the pre-holiday season are known to be the busiest and most profitable time for most e-commerce sites owners. But are you sure that your business marketing strategy is helping you get the most out of this year's festive season? Get your brand ready for the best time of the year with our webinar.

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Get your online store ready for the holiday shopping season

  1. 1. October 23d, 2014 – online marketing session for online retailers Get Your Online Store Ready for the Holiday Shopping Season
  2. 2. About Promodo
  3. 3. About Wiser Price for RPetaril poricef iinttell.igence, automation and analytics to help drive profitable pricing strategies.
  4. 4. Speaker Luke Lin Wiser As Wiser's Head of Pricing and Analytics, Luke pioneers new innovations in the realm of e-commerce pricing intelligence and automation. He is a former pricing leader at GE Intelligent Platforms with several years of experience in Software automation and intelligence, and a graduate of GE's prestigious Financial Management Program with deep experience in developing automated solutions for complex organizations. He graduated from the University of North Carolina at Chapel Hill and is an avid college basketball fan.
  5. 5. Speaker Anna Korolekh Promodo Marketing manager and, in past, an SEO consultant at Promodo. As an SEO consultant Anna has worked with large sites of the gambling, dating, travel and ecommerce niche. Anna is a certified Google Analytics individual and a regular contributor to Promodo and external blogs, also a regular speaker at the webinars. Currently Anna manages and oversees all marketing activities of Promodo in the English-speaking markets: SEM, SEO, social media, content marketing, email marketing, events.
  6. 6. Predictions for 2014 Sales Forecasts: ●Shop.org estimates that online sales will grow 8-11% in 2014. ●Holiday Sales are expected to make up 19.2% of the retail industry’s annual $3.2 Trillion in sales. Top Category Projections: Types of products placed on 2014 consumer wish lists (PwC):
  7. 7. Insights from 2013 and Predictions for 2014 Top Trends: ●Mobile ●SEO ●OmniChannel Retail ●Shipping ●Dynamic Pricing
  8. 8. Mobile Capitalize on Mobile Traffic The Facts: •One of the fastest growing channels of commerce the industry has ever seen. •In 2014, mobile usage drove 25% of all online retail traffic. •Convenience reigns supreme in 2014, and mobile shopping is about as convenient as shopping can be.
  9. 9. Search Engine Optimization Optimize your online store for search engines THE FACTS: 96% 1/3 In 2013, ⅓ of online consumers started their search for products through a search engine such as Google. 96% of all web searches begin with a search engine.
  10. 10. OmniChannel Retail Ensure an effective presence on all your channels of distribution (in-store, online, and mobile) THE FACTS: •⅔ of shoppers use their phone while being in store, a sure sign of the growing popularity of omnichannel retail. •While shopping on mobile, a whopping 41% of shoppers avoid mobile sites and apps, and instead decide to use the full website on their phone.
  11. 11. Shipping Consider Free Shipping THE FACTS: •According to ComScore, 93% of shoppers take some form of action to qualify for free shipping, with 58% adding items to their cart to qualify. •When time is not of the essence, 50% choose the slowest standard time so shipping is free.
  12. 12. Dynamic Pricing Keep up with the Competition THE FACTS: •Sears changes prices daily during the 2012 holiday season on 25% of products •Amazon changes prices as often as every 15 minutes •Amazon sold 426 items per second during the 2013 holiday season. The ability to reprice in real-time allows them to capitalize immediately on changes in the market
  13. 13. Taking a Data-Driven Approach to Pricing Step 1: Collect competitive pricing and assortment data Step 2: Identify and prioritize where you aren’t competitive Step 3: Set your pricing strategy and evaluate results REMEMBER: It’s not a race to the bottom Strong monitoring and evaluation of data is key Retailers using this approach have seen a: 7% 22% Incre1ase8 in %Sales Revenue Increase in Check-Out Conversion Rate Increase in Bottom-Line Profit
  14. 14. Taking a Data-Driven Approach to Pricing Recommended Strategy: Dynamic Pricing ●Know thy competitor ●Look for time-of week and time of day patterns to exploit ●Manage supply and demand ●Model consumer price elasticity & cross-price elasticity ●Use historical data to forecast and optimize ●Automate repricing in real-time REMEMBER: Price Cutting is a Losing Battle Use data to optimize for profit instead of limiting yourself to competition-based pricing
  15. 15. Consumer's pre-holiday habits Habits • About 40% of consumers begin their holiday shopping before Halloween • Consumers who shop in November spend 14% more than the average shopper in December • 2-3 weeks before Christmas people start searching for Christmas party goods and ideas and they start shopping for Christmas snacks 1 week before Christmas • 75% of shoppers use Facebook to search for seasonal discounts • 60% of women use Pinterest to search for gift-buying and home decoration ideas Your Actions • Plan your offers beforehand, create detailed holiday season calendars • Allocate most of your marketing efforts to more expensive products in November and shift to cheaper ones for last-minute shoppers • Create content that will cater to these needs and highlight products on your website that can help consumers with party preparation • Do not forget to trim your Facebook page • Use Pinterest as a showroom for your store, engage with your followers
  16. 16. Other holiday marketing tricks • This season is SUPER emotional, forget formality, go for warm, sentimental and friendly • Creating rush and urgency is as effective as ever • Small discounts measured in $ instead of % are very effective on mid-priced goods motivating people to buy things they do not actually need • More Free shipping and gift-wrapping! • You will get loads of new, first-time visitors – will they find their way through your site to the Order Successful page?
  17. 17. Holiday season marketing calendar:  September – Technical month: make sure your site will endure the load; revise holiday return and shipping policies and capabilities  average cost of a downtime for top 10 US retailers is $165,000 per hour  October – Revise your marketing plan for holiday activities; create holiday content, take care of SEO part of things  November – Launch your marketing activities full-scale – focus on CPC methods and social  December – Focus on customer experience and support  January! – Analyze the data received, collect feedback from your customers
  18. 18. Make your holiday story consistent • Define the focus group of target audience you would like to engage • Think of a voice to your story that would be most appealing to your focus group • Trim all your online (and offline) properties with this new hero of yours • Play around with it – create contests, give aways, run some charity events • Make sure you are telling this story via every channel available – your site, Facebook page, Pinterest page, ads and banners, blog, email blasts
  19. 19. CPC strategies Analysis First!
  20. 20. CPC strategies Analysis First! Google Trends
  21. 21. CPC strategies Analysis First! Google Analytics
  22. 22. CPC strategies • Products Ads (Google Shopping campaigns) outperform traditional non-branded AdWords search campaigns by 3 times in terms of clicks and by 5 times in terms of revenue! • Use custom labels for your seasonal Shopping campaigns • Prioritize and bid manage those groups of ads more aggressively
  23. 23. CPC strategies • Enhance your Product Listing Ads with special offers through Google Merchant promotions
  24. 24. CPC strategies • Shift your strategies towards new buyers, add more generic keywords like “woolen sweaters” instead of allocating your budget to branded queries • Do not forget to consistently remarket your drop off customers • Use last year’s data and stats to set bids for product categories this year • Add holiday-themed ad extensions to your ads • Watch for most active time of your shoppers and prioritize the ads and budgets according to this schedule
  25. 25. Facebook Ads are a MUST! • Put your offers and promotions on Facebook! • Upload your existing customers emails to create a Custom Audience on Facebook and make sure you reach them with your ads • Do not just focus on direct sales, engage • Start from the loyal fans that you already have and motivate them to share your message with their friends
  26. 26. Let’s summarize: • Take care of boring, technical side of things first • Plan and write down everything you do • Do not shout out promo messages, create a story and communicate it through all the channels you got • Engage your audience with helpful info on holiday shopping and preparation on your blog • Exploit social channels to share your holiday offers • Give Shopping ads priority over traditional ads
  27. 27. Free online marketing audit We would like to invite all you to take a free 10-15 minutes personalised webinar for a quick audit of your website and marketing campaigns by Google certified experts. - Quick usability audit of the existing site; - Quick SEO audit and review of existing analytics; - Audit of PPC campaigns; - Technical audit; - Best practices of conversion rate optimization; - General online marketing strategy insights. Free online marketing audit
  28. 28. Learn More About Wiser 1.855.GOWISER ● WWW.WISER.COM ● INFO@WISER.COM Try Wiser for FREE 14-day trial, no credit card required. ● Get to know Wiser using a Demo Store ● Sync to your own store right away ● Reprice your products and increase your sales today! Wiser provides a complete suite of solutions to give retailers, brands, and manufacturers the edge to stay both competitive and most importantly, profitable.
  29. 29. Thank you for your attention! Anna Korolekh Marketing manager at Promodo e-mail: a.moseva@promodo.com Skype: ann.moseva Luke Lin Head of Pricing and Analytics at Wiser e-mail: luke.lin@wiser.com
  30. 30. Please follow Promodo.com/blog twitter.com/promodo_en facebook.com/promodo blog.wiser.com/ twitter.com/wisepricer facebook.com/wisepricer

Hinweis der Redaktion

  • Founded in 2012, Wiser is a San Francisco based startup that provides a complete suite of solutions to give retailers, brands, and manufacturers the edge to stay both competitive and most importantly, profitable.
    Wiser’s flagship product is WisePricer, a full-featured dynamic pricing and merchandising engine that monitors, analyzes and re-prices retail products in real-time.
    Wiser also offers a MAP monitoring solution, WiseMapper, for brands and manufacturers to monitor and protect their pricing across the thousands of retailers selling their products.
  • Winter holidays are the busiest and most profitable time for most retailers. So how can you make the most of this opportunity?
    Let’s start by taking a look at the past year’s trends to identify what worked and didn’t, key areas to improve upon, and what has grown in relevance over the past
  • Make sure your site is responsive and optimized for mobile to capitalize on this trend
  • Optimize your website to make sure you get noticed by these consumers. By making sure your website is in ship-shape, you can differentiate your business by naturally standing out in search results in a sea of competition.
  • Remember how ⅔ of shoppers use their phone while being in store?
    That’s a sure sign of the growing popularity of omnichannel retail. Omnichannel retail is basically having an effective presence on your channels of distribution. For most retailers, this includes in-store, online, and mobile. While shopping on mobile, a whopping 41% of shoppers avoid mobile sites and apps, and instead decide to use the full website on their phone. Looks like there’s a huge opportunity to improve your mobile site as a means of differentiation from the competition.
  • You’ve probably heard it a hundred times, but it doesn’t strip away its importance. Shoppers are going to be looking for the lowest shipping costs available online. How much do people like paying little for shipping? According to ComScore, 93% of shoppers take some form of action to qualify for free shipping, with 58% adding items to their cart to qualify. When time is not of the essence, 50% choose the slowest standard time so shipping is free. When a customer is shopping your website, they want to pay for the product, not the shipping.
  • With Amazon’s robo-pricing leading the way, an increasing number of retailers are implementing rapid price adjustments.
    Not everyone has the resources that Amazon does, and while it makes sense given Amazon’s loss-leader strategy, no one wants to get caught in a price war.
    While staying price competitive is important, of course you need to protect your margins and stay profitable.
    So how can online retailers stay both competitive and profitable this holiday season? -->
  • You’re probably already optimizing your site through testing elements like site layout, CTAs, the checkout process, and more. Perhaps you’re even monitoring your competitors’ assortment to identify overlap and gaps in your inventory.
    But do you take the same approach with your pricing?
    Notes:
    Pricing
    What retailers usually do and what consumers expect
    Consumers want deals
    Amazon is under increasing pressure to improve margins – this is a real opportunity for retailers to increase prices along with Amazon
    It's NOT a race to the bottom, Amazon does aggressive repricing only on some brands
    Do not raise your Black Friday prices through the weekend and beyond. (could be artificial through psychological pricing)
    Sell local by taking advantage of zone pricing strategies.
    Cross-Channel promotions ... you want to be consistent, but can drive volume with promotions on certain channels
  • Traffic will be high during the holidays – optimize for conversions and reap the benefit in multiples.
    Pricing is complex. Fixed pricing is a thing of the past, but how can you implement a flexible pricing strategy?
    The Wiser approach: Dynamic Pricing
  • Google Trends
    BuzzSumo
    Google Analytics – popular, emotional, Christmasy and and most profitable for you goods.
  • Google Trends
    BuzzSumo
    Google Analytics – popular, emotional, Christmasy and and most profitable for you goods.
  • Google Trends
    BuzzSumo
    Google Analytics – popular, emotional, Christmasy and and most profitable for you goods, the ones that sold well last Q4.
  • Google Trends
    BuzzSumo
    Google Analytics – popular, emotional, Christmasy and and most profitable for you goods, the ones that sold well last Q4.
  • Acquire
    Boost your click-through-rate by highlighting your listings (upto 7% higher CTR).
    Convert
    Increase conversions by giving shoppers a reason to buy now.
    Save
    No extra charge for including promotions with your Product Listing Ads.
  • Category terms convert 3 times better during the holiday shopping season. Christmas sale, offer - sitelinks
  • If you’re interested in learning more about Wiser or trying out their dynamic pricing platform, we invite you to sign up for the free 14-day trial on their website, or reach out to one of their Pricing Strategists who will be happy to provide you with more information.

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