Christmas is not just the time of mulled wine, cookie baking and decorated city centers, but also the time when retailers are fighting more than ever and more visibly than ever for each and every customer. A tried and tested remedy, above all others today as well as ten years ago seems to be: discounts. But where is the line drawn between meaningful acquisition (a.k.a. persuasion) strategy and dangerous margin mutilation? We look at what methods are available to you, as a seller, to tip the scales in favor of the first.
The customer is king – this is general knowledge in the commerce world. But simply knowing about that is not enough to actually meet the needs and requirements of the customers. To cope with the demands of today’s customers, the task of establishing a personalized communication is of top priority – this is the only way customers truly feel treated like kings. To achieve that, it’s key to establish a conclusive and effective customer segmentation.
Let's go back to the relationship between Google Analytics and minubo. In the first part of our blog series on this issue, we clarified that both solutions cannot be thrown together – Google Analytics is a pure web analytics tool while minubo, the Commerce Intelligence Suite, integrates all company data into a comprehensive omni-channel database and makes this data available to all company employees. These two solutions belong to very different categories, have different use cases and differ in their user groups (Google Analytics is primarily for the marketing department, minubo is used beyond this departmental boundary).
The basic delineation of these two solutions is therefore clear. In this article, we look at the technical boundaries of Google Analytics Free. This free web analytics solution presents the user with clear limits in the area of data processing.
Google itself offers as an alternative to this limited free solution with their paid premium tool Google Analytics Premium. But whether the purchase of this tool is worth about €150,000 a year and whether a combination of minubo and Google Analytics Free offers a higher added value will be clarified in this post.
Customers are becoming more and more demanding every day – not only with their expectations for a consistent brand experience, but also with the buying process itself. Also, for accompanying communication, today's customers have high expectations of the way that they want to be addressed by brands and sellers. As individual as the dress sizes or tastes of the customers are, so too are their expectations of being addressed. In order to be successful in the modern retail age, a new law applies: the right message for the right customer – whoever wants to be a first-class seller needs to have first-class customer segmentation.
The calculation is actually quite simple: if customers do not get the right message, the right offer, or the appropriate incentive at the right time, they will most likely not buy. However, even if this problem seems to be so simply and clearly defined – and actually known for a long time – there has never been a system that allows a simple, as well as flexible, customer segmentation based on all relevant data points. With the minubo customer segmentation, this changes.
Read in German (coming soon)
With the rise in mobile commerce over the past few years, the way in which consumers have interacted with brands has evolved considerably. It is no longer a case of asking whether mobile marketing is important, we know it is! It's now a question of using data to understand how consumers behave when using different types of devices and what their preferences are.
The need to do research on the role of different devices in your customer transactions in order to adapt your business strategy accordingly is evident. But how do you actually do it? What kind of questions should you ask yourself? What facts do you really need to know for your business in order to make the right adjustments?
The various pros and cons of advanced campaigns with Google Adwords are often discussed in the eCommerce industry. However, people generally agree that one feature is particularly useful: the so-called bid modifiers.
Ginger cookies in the grocery stores and retailers having preparation stress: These are the unmistakable signs of the beginning of the Christmas season. Among all decisions that have to be made at that time by eCommerce organizations of every type and size, there typically is the one which customers should be focused on with the available resources – especially where resources are scarce. The reason for that: Customer reactivation and acquisition are expensive undertakings that do not always bear fruit as desired. Therefore, the number one rule is: Stay efficient! During reactivation, focus on the potential of strong existing customer segments and, during acquisition of new customers, pay attention to ensuring a healthy relation between costs and results.
Instead of using the common metric CPM (Cost-Per-Mille resp. Cost per Thousand Views) whereby the advertiser has to pay per 1.000 gained contacts, many online shops nowadays prefer to rely on Performance Marketing. In this form of advertising, the advertiser only has to pay a commission if there is a measurable reaction by the user, for example if the banner has actually been noticed or clicked.
Affiliate marketing is a fixed component in the online marketing mix for many companies. However, it is also at the same time a popular target for fraud. Advertisers (advertising companies, for example online shops) and publishers (affiliate) come together through affiliate marketing: the publisher distributes the advertiser’s advertising materials (for examples, a banner) on his website, which might be a blog or a voucher portal. The advertiser then collects a commission for the provided website ́s visitors or the orders. An affiliate network works between the two parties, such as Zanox, that manages the substantive, technical and legal aspects between advertiser and publisher.
Imagine you ran an online shop for fashion products and have recently generated an additional marketing budget of 20.000 Euro. Now you would like to use this budget to exploit new online channels. How do you proceed?