If you work in digital advertising in the UK, chances are you’ve heard of Cyber Monday. Originally a Christmas marketing campaign to persuade people to shop online after the Thanksgiving weekend in 2005, Cyber Monday now become one of the biggest online shopping days in the USA and this year, the average shopper is predicted to spend US$646 (£402) in online purchases this year, up 11% from 2012. Continue reading It’s beginning to look a lot like Clickmas
August is an exciting month for retailers, as “back-to-school” shopping is the second-largest season with about $84 billion in consumer sales. It is also an indicator for the performance of the holiday shopping season to follow, and helps retailers forecast their fourth quarter earnings, plan their fall advertising strategies and media buys.
As with every other vertical, the Internet has truly impacted the way people research, browse and ultimately purchase. This year, retailers have experienced yet more change in the shopping habits and patterns of their consumers. The NRF reported that the average family with children in grades K-12 has already completed 52% of their back-to-school shopping, up from 40% at the same time last year. This strongly supports that families are more-value focused than before, and are looking to take advantage of shopping opportunities that save them money. This year’s back-to-school shopping season started as early as four weeks sooner than usual, with 30% of online shoppers making back-to-school purchases two months before Fall 2013 classes start.
With this information, retailers, and more specifically ecommerce marketers, should consider beginning their holiday advertising about four weeks earlier than usual in order to accommodate the budget-conscious consumer. Analyst Liz Dunn of Macquarie Capital said that “business is suffering from an absence of clear fashion trends and is instead relying on the effect of promotions,” encouraging retailers to really take advantage of their digital strategies in order to usher in sales.
Mobile isn’t a device, it’s a channel, and marketers should be treating it as such. 79% of moms with children in school own a smartphone, and rely on them to get through their hectic days. Marketers should be enhancing their mobile campaigns in order to capitalize on these on-the-go moms who make most of the back-to-school purchases for their families.
Personalizing messaging on-site is a great way to grab the attention of your consumer and encourage them to convert then and there. Over the last couple of years, marketing automation tactics have become more widely used by marketers as a way to enhance lead generation and boost sales. Retailers that utilize content personalization and dynamic interaction across paid media and email are rewarded with stronger conversion rates.
It goes without saying that if you, as a retailer, embark on a promotional campaign, then make sure the terms of that campaign are recognizable across channels. The same goes for integrated marketing, where all of an organization’s resources, goals, technology, data and measurement are aligned in order to achieve higher levels of efficiency and performance. Truly integrated marketing is equally as important as consistent messaging across campaigns.
So what if you can’t heed this advice for the almost-past back-to-school shopping season? Easy. Apply them to your holiday strategic planning. With about $580 billion in consumer spending to come in the latter half of Q4, these insights will help you get more bang for your digital advertorial buck. But start the brainstorming sessions with your teams now, because this holiday season’s shopping cycle will begin as early as late-October.
The last few years have seen many businesses expand the global reach of their products and services, by giving international customers the ability to purchase via localised online stores.
The deployment of country specific online stores into emerging markets introduces a whole host of additional local currencies, in which a) customers expect to be able to purchase goods and services, and b) advertisers expect their technology partners’ support.
Typically, US headquartered, enterprise-level international companies, with an increasing online advertising presence in both EMEA and APAC face challenges..
These advertisers’ incumbent digital marketing technology partners are often only able to support the tracking of transactions in either a single currency (usually USD) or in an arbitrary value of no specified currency.
This can lead to circumstances where cross-channel media buying decisions are based upon ROI optimisations carried out on inaccurate revenue data. Future campaign planning is then carried out, poorly influenced by this inaccurate historical performance data.
Let’s say a customer is purchasing a solid-state drive (SSD) worth 999 USD. On the EU site store, the customer pays 764 EUR for the SSD; the currency unaware tracking platform assumes 764 USD and as a result, significantly under-reports the revenue.
Over on the JP site store, another customer pays 91,343 JPY for the same SSD; the currency-unaware tracking platform assumes 91,343 USD and as a result massively over-reports the revenue.
When also taking into account the many channels of tracked online advertising that the customer could have been exposed to on their path to conversion, the effect can be exacerbated and result in a compounded wastage of budget, especially when inaccurate performance data is fed into an automated forecasting system unchecked.
At the very least it can cause account teams to burn efficiencies by requiring revenue values within reporting data to be painstakingly converted prior to carrying out a manual optimisation process.
International brands need a transaction tracking technology that is currency aware.
IgnitionOne provides this solution and allows advertisers to dynamically insert the currency codes of the transaction’s currency, into a predetermined variable within the IgnitionOne transaction tracking pixel, along with the true value of that revenue amount, the merchant transaction ID plus up to 20 additional string values per transaction.
Instead of using only USD as a base rate, IgnitionOne stores the exchange rate of every currency, for every currency, and updates it every day, allowing a transaction in any currency to be reported back on in any other currency with 100% historical accuracy of the transaction’s true value at the time of either the transaction date or the reporting date.
This technology also allows IgnitionOne’s predictive bid optimisation technology, SPOT, to forecast ROI goals against 100% accurate multi-currency transaction revenue data, and for IgnitionOne’s cross-channel attribution technology to credit proportions of transaction revenue correctly to exposures on publishers from whom the media has been purchased in different currencies.
With this offering, clients of IgnitionOne are able to concisely and accurately report on revenue, helping them to better translate their successes. Currency-aware transaction tracking allows marketers to be more efficient; and a more efficient marketer is able to appropriately allocate budget and maximize their ROI.
IgnitionOne will be sponsoring and exhibiting at this year’s Shop.org in Denver, Colorado!
Visit us at booth 906 to learn more about our services or to chat with a representative. We will be giving away locally brewed beer on Tuesday, beginning at 2:30pm and Wednesday, beginning at 1pm. Pick up your branded pilsner glass at booth 906 during regular Expo hours and bring it back for an afternoon refreshment. One lucky person will also win a Jawbone Jambox in our raffle.
Lisa Arsenault, Director, Client Solutions, will be speaking at the Big !dea Session on Wednesday, September 13, at 10:30am, exploring what retailers need to know in order to use mobile regarding ecommerce and research, and will evaluate appropriate methods for devising mobile search strategies and the tactics needed to support them.
If you will be at the event and would like to schedule a time to meet with one of the members of our team, please contact us at firstname.lastname@example.org.
The Shop.org Annual Summit is digital retail’s most influential annual event. Those who attend are some of the brightest and most innovative players in the digital retail world, and they come to the Summit to build relationships, exchange ideas, share knowledge and discover the next big thing. Each fall, Shop.org produces the Summit as an educational and networking event for the entire digital retail community: senior management, marketers, merchandisers and solution providers. More than 4,000 attendees and 200 exhibitors will gather this year in Denver for the 2012 Shop.org Annual Summit.