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General Assembly Online Retail
- 1. Understanding Online Retail Justus Wilde
- 2. URL
- 3. What were (#1) Amazon.com 2011 Sales? a. $38Billion a. $48Billion c. $58Billion
- 4. What were (#1) Amazon.com 2011 Sales? a. $38Billion a. $48Billion c. $58Billion
- 5. What were (#2) Staples.com 2011 Sales? a. $10Billion a. $19Billion c. $28Billion
- 6. What were (#2) Staples.com 2011 Sales? a. $10Billion a. $19Billion c. $28Billion
- 8. Amazon’s 2011 growth? $13,880,000,000
- 11. About me - Justus Started building websites in 1997 Founded Wire Multimedia in 1999 Studied marketing & IT management Founded Amblique in 2006 Sold 40% of Amblique to STW in 2012 Strategy Director – 100% focused on eCommerce
- 13. About you Who are you? Have you worked on any eCommerce projects? What are you hoping to get out of today?
- 14. eCommerce Today stats & models
- 22. Types of Retailers Multi-Channel Pure Plays
- 23. What does Online mean for Multi-Channel Retailers? Does your brand proposition change online? 1.Who are you? 2.What do you do? 3.Where do you do it? 4.What makes you different? 5.How can I engage with your brand? Source: eConsultancy
- 25. SKU Range is an Opportunity! Source: Google
- 26. Many Pure Play Models
- 27. Who are the big players? eBay 25% Multi Channel 5% Source: Hitwise
- 28. Top 20 in Apparel Only 4 Multi- Channel Source: Hitwise
- 29. Apparel Sites Changes Top 100 Apparel Sites April 2012 Multi- In t 40% er channel n at io na l 38% 46% Category Growth Contribution
- 30. Approach for online retail Niece OR Huge
- 31. The Market - SUMMARY 1. eCommerce is big & growing fast 2. eCommerce is for almost everyone & everything 3. Pure Play models are dominating 4. Overseas retailers are growing faster 5. Either be niche or huge – there is nothing in between!
- 32. The Equation of the business
- 33. eCommerce is Retail not technology ..and Retail is Detail
- 34. Basic components of value prop Range Price Service
- 35. Not all products are suitable… • Do you own or have access to sufficient product data and supporting meta data? • Are there any geographical restrictions on where you can sell your products? • How well does your product travel in the post? • Is the cost of shipping your product prohibitive? • Do your products demand a high level of sales assistance in-store? How will you replicate that experience online? Source: Source: Econsultancy Blog – 27 Things I need to see on an e-commerce homepage
- 36. Sourcing / Stock Models Traditional JIT Drop Ship M2O Hybrid Quick turnaround No stock risk No stock risk No stock risk Great for testing and refining Profit Potential Offer bigger range Offer bigger range Offer bigger range to drive range and profit Cost exposure At mercy of At mercy of Customer may supplier supply not be prepared Logistics to wait Slower delivery Beware of capabilities Requires tight QA / process
- 37. Basic Sales Equation Conversion Average Order Visits rate (AOV) 100 visits @ 2% conversion = 2 order x $150 average order $300 sales
- 38. Use this to estimate traffic requirements Revenue Average Order Conversion Target (AOV) rate $300 / $150 average order / 2% conversion rate 100 visits required
- 39. Channel A Channel B Channel C 50,000 30,000 15,000 Social 375,000 @ 2% x $125 Offline $937,500 p/month 10,000 250,000 100,000 x 4 @ 25% @ 20% Email
- 40. Important modeling considerations • AOV is likely to be different online than in-store • Conversion will differ by channel (return visitor 67% more likely to convert) • Conversion / AOV will be affected by seasonality • Email list will grow (typically 0.5% visits /month subscribe)
- 41. Online Profit Tree Source: eCommera
- 42. Jeff Bezos 1. Found & CEO – Amazon.com The equation of the business 2. Customer centricity 3. Bridging the physical & digital
- 44. Key Marketing Channels Organic Paid Affiliate Search Search Networks Social Offline Email
- 45. Organic Search Understanding Search Results
- 46. Organic Search Search Volume: Brands vs Generic
- 47. Organic Search Keyword Types Head terms 1 word phrases Medium tail terms 2-3 word phrases Long tail terms 4+ word phrases
- 48. Organic Search Keyword vs. Sales Funnel • Browsing • Researching • Purchasing • Highest search • Less search • Lowest search volume volume volume • Lowest • Higher • Highest conversion rate conversion rate conversion rate
- 49. Organic Search Keywords vs. Content ›LCD TVs ›Sony LCD TVs ›KDL60NX800
- 50. Paid Search Campaign Considerations • Are you building a brand or aiming for sales ROI? • Always advertise your own brand • Stocked brands and specific items work best • Consider stock on hand for large catalogues • Continually optimize campaigns by key metrics & geography
- 51. Paid Search Trademark Blocking Vs.
- 52. Paid Search Cross channel impact Traffic Sales $135
- 53. Paid Search Cross channel impact Product Views Sales $1995
- 54. Paid Search Options beyond Google CPC Channel $0.30 /click
- 55. Affiliates How Affiliates Work commission 3-5% standard +7% aggressive neg. other fees
- 56. Affiliates Transactional Aggregators Commission based 10-15%
- 57. Social Audience by Network Source: eConsultancy
- 58. Social The Role of Social YOUR 13% WEBSIT 10% 8% E 7% Consumer Buying Journey
- 60. Mobile Growth Source: Google Analytics for 9 fashion clients
- 62. Interesting Mobile Stats * Mobile Email Opens Report, Knotice April 2012 based on US data ** The Benefits of SMS Marketing, Power Retail April 2012 + Google Analytics for various clients, March 2012
- 63. Email Marketing Still No 1 – Why?
- 65. Email Marketing Key Metrics Source: Econsultancy Email Marketing Best Practice Guide
- 66. Email Marketing Transactional vs. Marketing Emails TRANSACTIONAL MARKETING Average open rate – 47% Average open rate – 31% Average click-through rate – 20% Recipients receive 87 of these each year Average click-through rate – 6% Your customers will find this type of Recipients receive 3,694 of these email twice as interesting each year Source: Silverpop Transactional Email Best Practice Webinar
- 67. Email Marketing Abandonment is part of the purchase process Source: SeeWhy
- 69. Email Marketing Abandonment Email Examples
- 70. Offline 67% of online search are driven by offline Ensure you cover: •Windows •Catalogues •Shopping bags •Receipts •eReceipts •Change rooms •etc etc etc… Source: Google
- 71. Offline Offline 2 Online Channels Australian GDP 96.6% Online 3.4%
- 77. Ecommerce Homepage Essentials 49.7% of customers land on home page of e-commerce sites (DoubleClick) • Latest offers - It makes sense to promote offers or sales on the homepage. • Search box- Help customers to find what they want quickly • Promotional area - it makes sense to promote your products, give • Logo customers some ideas and link to them. • Tagline- Can help to quickly define your brand for visitors. • Images – For aesthetic appeal, but also help to convey what the site does • Store finder- Customers often come to the site to locate branches. to the new visitor. • Telephone number - A great way to reassure customers, as well as a useful • Email sign up - Email marketing works, so give customers the option of shortcut. signing up. • Contact details - Customers should be able to easily find contact details on the • Delivery information – can be prominent if you have a delivery offer to homepage - at least in the footer. promote (footer) • Address - The company's registered address is a good way to reassure new • About us - Useful for customers and journalists (footer) visitors (footer). • Link to press office/corporate site - Makes it easy for journalists to find • Account /sign in - Returning customers, or check/track an order. out more about the company or financial reports. • Top navigation bar - Obvious, but expected. • T+Cs - May not be read by many, but needs to be there for those that need • Shopping basket /checkout - Expected at the top right of the page, so it it. makes sense to place it there. • Status updates - Various events may affect prices or delivery, such as Australia Post strikes, or bad weather etc. Source: Source: Econsultancy Blog – 27 Things I need to see on an e-commerce homepage
- 79. Mega Menus (good example)
- 80. Mega Menus (bad example)
- 81. Search & Navigation Provide relevant refinements Highlight special features for items on product listing Autocomplete with search suggestions Simple paging, sort options ideally at top and bottom of page
- 82. Product Page Requirements Essentials Enhanced Experience •Product title •Product reviews •Images •Tools for rating reviews •Add to cart button •Sorting options for reviews •Price •Bookmarks / sharing / tweet this / send to a friend •Availability •Add to wish list (item / seller) •Payment methods •Product recommendations •Shipping (delivered to / carrier options / fees / offers) •Video •360 degree views of products •Returns policy •Tools to zoom in on products •Product description •Product detail •Colour chart (materials used / dimensions / weight / cleaning / washing) •Trust-marks (security signs, testimonials) •Sizing / size guide •Live chat (or a prominent contact number) •Colour options •Number of items produced (if limited run) •Product tags / categories •Product code/ISBN/Barcode •Stats (views / fans / item follows / sales) Source: Source: Econsultancy
- 83. Product Content Reinforce value prop Create sense of urgency Clear pricing + buy CTA Postage Images in estimator. all colours Pre-empt and angles questions. + product video. Returns & delivery info All extended product data required to make purchase decision.
- 84. Simple and clean carts work best Shipping offer reinforced Light box pop-up access to policies without having to leave the page Ability to Ability to change apply shipping options promo code Contrasted button for main Confirm CTA payment methods
- 85. Technology / Platforms Platform / tools decision should be driven by clearly defined business requirements – nothing else! Custom Build / Proprietary Bespoke solution can be very $$ to build & maintain but provides ultimate flexibility. Basic SaaS Open Source Enterprise Enterprise SaaS packages Requirements, scalability and cost
- 86. Go!
- 87. Considerations 1. Do your research!! 2. Test if possible – eBay is your friend 3. Focus on MVP - Launch first & polish later 4. Fail quickly, fail often 5. Use bulk of funds for stock & marketing
- 88. Project Briefing 1. Clearly define goals 2. Describe audience, USP 3. Document all key use cases 4. Prepare site map & content in advance 5. Document all key processes
- 89. Getting started quickly – cross hurdles Platform / Design / Customer Customers Payments Logistics Technology Development Service Use SaaS Crowd Google PayPal 3PL Extensive Source AdWords FAQs Use Affiliates Live Chat Templates Facebook Offshore
- 90. Resources
- 91. Blog resources http://econsultancy.com/au http://www.internetretailer.com/ http://blog.kissmetrics.com/ http://www.marketingexperiments.com/blog/ http://www.mequoda.com http://blog.comscore.com/ http://blog.demandware.com/ http://socialcommercetoday.com/ http://www.theverge.com http://www.powerretail.com.au/
- 92. Good Books to read
- 93. Thanks! Questions? jw@amblique.com 02 8272 3800 0413 517 477 @justuswilde
Notas do Editor
- Take your pen in your non-dominant hand. Try and write your name, and then your signature. How did it feel? (Difficult) What did you instinctively want to do? (Change back to your dominant hand). That ’ s exactly right, and that ’ s sort of how today is going to feel. For many of us in the room, we ’ re going to be covering new territory , experiencing approaches that we may not have been exposed to before and probably have some of our own, pre-existing values and ways of doing things challenged . It ’ s important to know that because of this, there probably will be times today where we will feel uncomfortable and you will want to revert back to your tried and true ways of thinking, but I strongly encourage you to - as you did just now - persists, push through the discomfort and see how we can take that feeling and use it to grow our experience with digital.
- Purpose. Explore the origins and unique characteristics of digital marketing and media. Myself, Tim, Dave - we are not presenting ourselves necessarily as experts who hold all the answers, but more facilitators of today ’ s journey. There ’ ll be some practical content delivered later in the day, but much more to come in the modules. Today is not about us telling you a lot of ‘ truths ’ , it ’ s about doing some discovery . While obviously we all might feel differently the impact digital is having on our industry, and indeed there are many areas (perhaps the area that you are currently working in) where we ’ re yet to feel the full effects of any kind of digital revolution. At a senior level, we talk about the fact that in many companies, it would be crazy to hire non-digital . Therefore, regardless of how we might feel or what preconceptions we may have around digital, today is an important opportunity to grow our awareness . Today is about challenging conventional thinking, debate, discussion, participating in some interactive experiences, and hopefully walking away with a further progressed sense of the new digital world that we live in, and how to master it. All in this together. All responsible for our own learning. You will learn as much from each other as from us. A full day out to talk about digital. No silver bullet. No wrong answers. We need full attention. Ask questions as any time.
- Purpose. Explore the origins and unique characteristics of digital marketing and media. Myself, Tim, Dave - we are not presenting ourselves necessarily as experts who hold all the answers, but more facilitators of today ’ s journey. There ’ ll be some practical content delivered later in the day, but much more to come in the modules. Today is not about us telling you a lot of ‘ truths ’ , it ’ s about doing some discovery . While obviously we all might feel differently the impact digital is having on our industry, and indeed there are many areas (perhaps the area that you are currently working in) where we ’ re yet to feel the full effects of any kind of digital revolution. At a senior level, we talk about the fact that in many companies, it would be crazy to hire non-digital . Therefore, regardless of how we might feel or what preconceptions we may have around digital, today is an important opportunity to grow our awareness . Today is about challenging conventional thinking, debate, discussion, participating in some interactive experiences, and hopefully walking away with a further progressed sense of the new digital world that we live in, and how to master it. All in this together. All responsible for our own learning. You will learn as much from each other as from us. A full day out to talk about digital. No silver bullet. No wrong answers. We need full attention. Ask questions as any time.
- Take your pen in your non-dominant hand. Try and write your name, and then your signature. How did it feel? (Difficult) What did you instinctively want to do? (Change back to your dominant hand). That ’ s exactly right, and that ’ s sort of how today is going to feel. For many of us in the room, we ’ re going to be covering new territory , experiencing approaches that we may not have been exposed to before and probably have some of our own, pre-existing values and ways of doing things challenged . It ’ s important to know that because of this, there probably will be times today where we will feel uncomfortable and you will want to revert back to your tried and true ways of thinking, but I strongly encourage you to - as you did just now - persists, push through the discomfort and see how we can take that feeling and use it to grow our experience with digital.
- Take your pen in your non-dominant hand. Try and write your name, and then your signature. How did it feel? (Difficult) What did you instinctively want to do? (Change back to your dominant hand). That ’ s exactly right, and that ’ s sort of how today is going to feel. For many of us in the room, we ’ re going to be covering new territory , experiencing approaches that we may not have been exposed to before and probably have some of our own, pre-existing values and ways of doing things challenged . It ’ s important to know that because of this, there probably will be times today where we will feel uncomfortable and you will want to revert back to your tried and true ways of thinking, but I strongly encourage you to - as you did just now - persists, push through the discomfort and see how we can take that feeling and use it to grow our experience with digital.
- Take your pen in your non-dominant hand. Try and write your name, and then your signature. How did it feel? (Difficult) What did you instinctively want to do? (Change back to your dominant hand). That ’ s exactly right, and that ’ s sort of how today is going to feel. For many of us in the room, we ’ re going to be covering new territory , experiencing approaches that we may not have been exposed to before and probably have some of our own, pre-existing values and ways of doing things challenged . It ’ s important to know that because of this, there probably will be times today where we will feel uncomfortable and you will want to revert back to your tried and true ways of thinking, but I strongly encourage you to - as you did just now - persists, push through the discomfort and see how we can take that feeling and use it to grow our experience with digital.
- • Relatively low cost of fulfilment • Direct response medium encourages immediate action • Relationship development, brand engagement and audience participation • Fast campaign deployment • Marketing automation through triggered individual emails • Tracking and follow-up at an individual level • Behavioural targeting of emails broadcast after subscriber website activity. • Ease of personalisation • Measurability and accountability • Options for testing
- • Relatively low cost of fulfilment • Direct response medium encourages immediate action • Relationship development, brand engagement and audience participation • Fast campaign deployment • Marketing automation through triggered individual emails • Tracking and follow-up at an individual level • Behavioural targeting of emails broadcast after subscriber website activity. • Ease of personalisation • Measurability and accountability • Options for testing
- Segment browser/buyer inc. multi-channel Integration with Live Chat Understand key price points Analyse key products / steps - weekly/monthly 120 day cart persistence
- Take your pen in your non-dominant hand. Try and write your name, and then your signature. How did it feel? (Difficult) What did you instinctively want to do? (Change back to your dominant hand). That ’ s exactly right, and that ’ s sort of how today is going to feel. For many of us in the room, we ’ re going to be covering new territory , experiencing approaches that we may not have been exposed to before and probably have some of our own, pre-existing values and ways of doing things challenged . It ’ s important to know that because of this, there probably will be times today where we will feel uncomfortable and you will want to revert back to your tried and true ways of thinking, but I strongly encourage you to - as you did just now - persists, push through the discomfort and see how we can take that feeling and use it to grow our experience with digital.
- Take your pen in your non-dominant hand. Try and write your name, and then your signature. How did it feel? (Difficult) What did you instinctively want to do? (Change back to your dominant hand). That ’ s exactly right, and that ’ s sort of how today is going to feel. For many of us in the room, we ’ re going to be covering new territory , experiencing approaches that we may not have been exposed to before and probably have some of our own, pre-existing values and ways of doing things challenged . It ’ s important to know that because of this, there probably will be times today where we will feel uncomfortable and you will want to revert back to your tried and true ways of thinking, but I strongly encourage you to - as you did just now - persists, push through the discomfort and see how we can take that feeling and use it to grow our experience with digital.
- Take your pen in your non-dominant hand. Try and write your name, and then your signature. How did it feel? (Difficult) What did you instinctively want to do? (Change back to your dominant hand). That ’ s exactly right, and that ’ s sort of how today is going to feel. For many of us in the room, we ’ re going to be covering new territory , experiencing approaches that we may not have been exposed to before and probably have some of our own, pre-existing values and ways of doing things challenged . It ’ s important to know that because of this, there probably will be times today where we will feel uncomfortable and you will want to revert back to your tried and true ways of thinking, but I strongly encourage you to - as you did just now - persists, push through the discomfort and see how we can take that feeling and use it to grow our experience with digital.