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Nearly half of every pound spent online in 2015 was spent with a retailer that had no shops, new analysis from the Office for National Statistics (ONS) suggests. The ONS study, Shopping in shops that have no ‘shops’ says that in 2008, 5p in every £1 spent with retailers was spent online. By 2015 this had risen to 13p. And when people shopped online in 2015, 49% of spending – or 49p in every pound – went to retailers that had no permanent physical store. This, says the analysis, is “not a blip – it’s actually a growing trend – up from 41p of every £1 spent in shops online in 2010. ”The report suggests while the supermarket was arguably the big retail development of the 20th century, making shopping less personal for many, the 21st century has been about shopping online – a development that some say has made shopping even less personal. It suggests that while 88% of all UK shopping took place in physical stores in 2015, “the British public are not ready quite yet to move to an exclusively online shopping experience.”
In this article, I’m going to show you how you can use the power of psychology, to become an outlier when it comes to cart abandonment statistics.
Once you know how to fix your website’s checkout issues, you will be able to massively improve the amount of online revenue your business generates.
Let’s take a look at what can be done....
Women may always be a mystery to men, but that need not be the case for retailers. Here is a closer look at how female consumers are navigating the retail sector right now that can help you land more sales with women shoppers.
Who, what, when, where, why and how? These are the questions that every researcher seeks to answer. If your business needs to find success in its efforts at marketing to women, these are questions that can help provide insights about female consumers that you can use to shape your marketing strategies. Here are some research findings about women shoppers that made our list of things you should know....
Maintaining a steady stream of content that's unique and interesting to your target audience is a challenge. But with a big dose of creativity (and a little help from content idea generators), you can create content that's not only valuable to your market, but also stands out from the sea of information.
44 Fantastic Types of Content
There are tons of options out there for content you can create. Forty four content types are outlined below, so look through the list and see which ones would make a perfect fit in your marketing plan....
“IBM’s research found a few areas where retailers may have some interesting opportunities,” said Kali Klena, global retail industry leader for IBM’s Institute for Business Value, San Mateo, CA. “First, there is a growing gap between shoppers’ enjoyment of digital shopping — online and mobile — and their last purchase behavior.“
Said another way, some retailers are delivering more enjoyable digital shopping experiences than others,” she said. “This indicates an opportunity for retailers to look at their digital shopping offerings and be sure they are truly tailored by channel....
Cashback industry leader eBates had a phenomenal year, returning $98,339,477 to consumers. Consumers are now embracing cashback programs and merchants are seeing the benefits of this powerful marketing strategy in driving sales. The future strength of the cashback industry is further reflected in the purchase of eBates for more than $1 billion by Japanese conglomerate Rakuten.
Suspicious Web traffic in the U.S. rose 36% sequentially in the third quarter of 2014, and bot traffic grew by 35%. Data released Friday identifies 55% of the traffic on retail sites as suspicious with 34% of traffic confirmed as bot. The data defines "suspicious" as non-human behavior.
U.S. retailers could waste about $4.6 billion of eMarketer's projected $11 billion spent on digital advertising this year on bot traffic fraud, estimates Solve Media. The company's latest Quarterly Bot Traffic Market Advisory focuses on U.S. retailers.
Solve Media CEO Ari Jacoby believes 2015 will become the year of verified human audiences. Media companies are "demanding to purchase only human ad traffic and viewable ads."
Brands waste millions of dollars annually. If Bloomingdale's spends $200 million annual in digital, "we estimate $68 million of that could be wasted on bot traffic," estimates Jacoby.....
There are hidden motivations behind a lot of the actions we take online, especially so with social media. The influence of friends and family has a big impact on what we click, view, share, and like.
Researchers have discovered some specifics behind why friends impact us the way they do. These insights cover the way we interact and reciprocate, the time we spend online, and the buying decisions we make. It’s fascinating to learn, and helpful for marketers to know, too.
Can you adapt some of these takeaways for your social media marketing? Keep reading to see what these studies say and how you might implement them into your strategy....
With 2015 lurking around the corner, it’s time to ensure your ecommerce site is ready to tackle the challenges the New Year will bring to e-retailers.
This is going to be a significant year for online retailers as the concept of ecommerce recently turned 20 (if you consider the age of internet payment processing systems). Bigcommerce predicts global B2C ecommerce market will hit record growth in 2015, with revenue of around $2 trillion. According to a study conducted by Emarketer.com, Asia-Pacific is likely to become the top region for ecommerce sales in 2015, followed by North America and Western Europe.
For the seventh consecutive year, I’m proud to announce our annual eBook of content marketing predictions (you can also view our forecasts for 2009, 2010, 2011, 2012, 2013 and 2014).
Special thanks to our friends at Marketo for making this year’s eBook possible.
My favorite part about these predictions is that I’m usually wrong (as you know). Despite this, I don’t mind going out on a limb again this year.
For the record, here are my (soon-to-be-failed) predictions for 2015....
These days, the customer journey has grown more complex. We analyzed millions of consumer interactions through Google Analytics and distilled how different marketing channels affect online purchase decisions.
Use the benchmarks in this tool to help understand the roles these channels play, so you can better plan which channels you will use when, increasing marketing performance....
We’ve learned by now that B2B marketing often involves targeting a market-savvy and knowledgeable audience. However, usually the selling business is full of knowledgeable experts as well, and quite often they rely on their experience and instinct to make marketing decisions “on a whim.” While there is no denying that industry experience is a powerful resource, B2B companies that rely on instinct rather than data run the risk of generating ineffective or even damaging, marketing strategies and campaigns.
Remember the difference between B2B and B2C consumer buying habits. Do B2B consumers generally make purchases on a whim? Most likely no. Therefore, should your marketing be done on a whim?
Here are some examples of how to conduct data driven marketing and apply it to your marketing strategy.....
According to a study by Content Marketing Institute and MarketingProfs only 38% of B2B companies think their content marketing is effective. The same study also states that only 35% of the companies have a documented content marketing strategy.
My guess is that some of these companies do not even know whether they are effective or not. They cannot say what “effective” really is in regard to content marketing without goals, metrics etc. It would certainly help with effectiveness of content marketing to have a strategy at hand.
Here are 9 essential elements any content marketing strategy should include....
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Growing an ecommerce business often requires a broad set of skills. An online merchant may need to be equal parts bookkeeper, marketer, and developer. Fortunately many of the necessary skills can be developed online for little or no cost.
Here is a list of educational resources for online merchants. There are resources for specific subject areas, such as inbound marketing, coding, and mastering Google Analytics. There are also broad education sites, with many useful courses in business and technology, and many other topics.
The 2015 Loyalty Report saw an increasing number of people opt-in to a variety of loyalty programs in the past year, and revealed the extent to which programs are effective in influencing customer behavior show no signs of diminishing.
Here's a Top 5 list of what's trending in loyalty....
In India, e-commerce has seen tremendous growth in recent years. Here are eight major things we learnt about online selling in 2014.…
Online shopping has become a multibillion-dollar revenue stream--not to mention it has completely turned the path to purchase on its head.
What retailer doesn't want a piece of that growing pie? This is where multichannel marketing comes into play. Any successful online marketing strategy, however, begins with understanding--and then catering to--consumers' various shopping patterns and preferences.
To start you on your way, here is a glimpse into the online purchase habits of the modern-day shopper.....
What if you had a big blue phone on your desk, and whenever you needed to, you could pick it up and instantly be connected with a smart and caring tech support expert (from your internet provider, your web host, the airline you use the most...)?
What are the chances you'd ever consider switching to a competitor that didn't offer similar service just to save a few bucks?
The current model of big company support is to throw undervalued, undertrained, underpowered human beings at perplexed customers, frustrating and disrespecting them enough that they shrug and give up.
Macy’s has announced they will shut down 14 stores as part of a restructuring effort, citing a shift in how consumers shop. The retail giant notes that this is part of a broader plan to meet consumers where they are: online.
The closed stores will mean a reduction of 1,343 jobs and should be completed within the next few months. The news has the average layperson assuming the worst of the brand, but Macy’s is no JCPenney, no, this is a simple effort that is common for large brands. These closures represent only a fraction of the brand’s 790 stores across America....
Tis’ the season for pinning! Whether you are looking for a DIY ornament project or need the recipe to your favorite treat, Pinterest is one social media platform that allows you to easily find both. Beyond crafting and cooking, Pinterest is also one of the top resources for shopping this holiday season.
Recently, Curalate ran a study to detect the most popular item on Pinterest and found that a pair of J.Crew camping socks were the hottest item on the site. The study also showed that 3 out of the top 5 items in their study were sold out in the color that was pinned. Given the visual nature of Pinterest, it makes for an effective marketing tool for e-commerce and retail companies.Out of all the major social media networks, Pinterest users spend between $140 – $180 in the online check out as opposed to Facebook and Twitter users who spend around $60 – $80. To fuel the shopping machine, nearly 79% of department stores have Pinterest accounts and are running campaigns on the platform during 2014....
To understand how the best sell on social and earn a positive ROI on their social investment, we researched 100 of the top social selling e-commerce brands on Facebook, Twitter, and Pinterest. For two weeks, we recorded each of their posts across six dimensions: 1. type (video, image, or text), 2. purpose (promote product or brand building), 3. copy, 4. whether it was linked, 5. whether it was original or user-generated content (including retweets and repins), and 6. posting time.
We then compiled this data and analyzed it for patterns. Here’s what we found to be the best practices for social posting that drives sales
Among the key findings of the survey: - Blogs and newsletters are most valued by B2B buyers early in the sales cycle, when they are starting to learn about a topic and evaluate products/vendors.
- Whitepapers are most valued in the beginning and middle parts of the sales cycle, when buyers are attempting to understand a problem.
- Videos, webinars, and detailed tech guides are most useful toward the end of the cycle, when buyers are considering specific vendors and finalizing selection.
- 80% of buyers want to continue to receive content after a sale is completed...
Although psychology has been an integral part of marketing for many years, in recent years we have seen it become an even bigger component as more and more consumers turn to the Internet for information. In its most basic definition, psychology is the science of behavior and the mind. As online marketing develops and grows out of consumer demand, so does psychology and an understanding of how consumers think and behave as they use the Internet for purchasing decisions.
How does psychology work in the process of lead conversion? First, let’s gain a better understanding of lead conversion in online marketing, specifically inbound marketing. As you may know, call-to-actions (CTAs) and landing pages are an integral part of lead conversion and inbound marketing.
Shoppers have always had different personalities. They are motivated to buy for all kinds of reasons, and their shopping strategies can be radically different.
In order to stay competitive in an increasingly challenging online ecosystem, marketers need to understand exactly what drives the behavior of the shoppers who frequent their online stores. Here are eight types of shoppers based on personality types and how marketers can provide the best online experiences to reach them...
For society, smartphones are becoming appendages. They may even be as important as breathing air! Ok, not really, but with Cyber Monday now a date on the holiday calendar, it is evident that our smartphones will influence how society shops.
A higher percentage of women than men shop online. Additionally, 30% of women use mobile devices to shop.
Throw in social media into this mobile online shopping melting pot and what do we get?
Let’s find out!
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Looking at how we shop online in this UK research.