eCommerce Fundamentals
Word Count:
473
Summary:
eCommerce can be VERY complex. To offer a world class customer experience, retailers must incorporate technologies and functionality that exceeds rising customer expectations.
On the flip side however, site fundamentals still play a very large role in converting visitors into customers. Many retailers surprisingly lose sight of these site basics and leave significant sales on the table. This brief examines 4 quick “fundamentals” every eCommerce manager cannot afford to lose sight of.
Keywords:
ecommerce e-commerce emarketing e-marketing internet marketing web
Article Body:
eCommerce can be VERY complex. To offer a world class customer experience, retailers must incorporate technologies and functionality that exceeds rising customer expectations.
On the flip side however, site fundamentals still play a very large role in converting visitors into customers. Many retailers surprisingly lose sight of these site basics and leave significant sales on the table. This brief examines 4 quick “fundamentals” every eCommerce manager cannot afford to lose sight of.
Think Fast
Speed has become less of a problem due to the penetration of broadband, but don’t forget that a significant number of people still shop by a dialup connection. When creating a site framework, designers and e-commerce teams should ensure that the site is developed with pages loading in less than 9 seconds (over a dial-up connection).
Our recommended page size is within 60-70k in bytes. At that amount, sites will likely load within the maximum wait time of 9 seconds. Online retailers should avoid flash at all costs within their transactional site. Flash’s artistic aspects may help you establish a brand presence – but it will likely lose potential customers before they have even searched within your store.
Image is important
Images are a very important aspect of selling online and are often neglected. All product images should be of the highest resolution possible, be much larger than the product page original, and have
multiple views. Dynamic imaging capabilities can improve the user experience to an even higher level by increasing interactivity (zoom & rotate). At a minimum – retailers should have at least two additional views outside of the product page image to help build emotion.
Be my guest
Shoppers do not like being forced to do anything, especially when they are ready to open their wallets. Forcing a shopper to register on your site before purchasing is a sure way to drive a portion of your traffic to your competitors. Too often, shoppers do not have the time or the inclination to fill out a lengthy form explaining what types of information they desire.
Always offer the ability to checkout as a guest. You will see less customer leakage within the checkout process and can still offer the option to register when the sale is completed.
Make sure it’s “above the fold”
Your homepage is the most important page within your eCommerce store. It sets the initial tone for the shopping experience and offers your best promotions and products to your visitors. Users typically visually scan a web page from top to bottom and then from left to right. All critical content and navigation options should be obvious to the shopper without having to scroll down. If you have your best promotions “below the fold” – you can bet that a large percentage of browsers are not scrolling down to see it.
Craig Smith
Trinity Insight LLC
http://www.trinityinsight.com/
Showing posts with label marketing web. Show all posts
Showing posts with label marketing web. Show all posts
Tuesday, March 1, 2011
Saturday, February 26, 2011
eCommerce and Canada
eCommerce and Canada
Word Count:
567
Summary:
Canadian eCommerce growth was recently flat but still has an attractive upside…
Recent studies found that Canadian retail e-commerce growth was flat year over year (2003-2004). After further examination however, approximately 60% of the 100 largest non-travel sites succeeded in growing their sales over 20%.
Keywords:
ecommerce e-commerce emarketing e-marketing internet marketing web
Article Body:
Canadian eCommerce growth was recently flat but still has an attractive upside…
Recent studies found that Canadian retail e-commerce growth was flat year over year (2003-2004). After further examination however, approximately 60% of the 100 largest non-travel sites succeeded in growing their sales over 20%.
Also interesting is the trending of Canadians from buying at non-Canadian sites to domestic sites (63% domestic, 37% foreign). This “domestic shift” clearly benefits the launching of a new eCommerce business in Canada.
The sales opportunity lies with the “early adopters”, individuals primarily the 18-34 year old age range. This segment is more technologically savvy and more likely to purchase online. In a 2003 to 2004 sampling comparison, this segment’s overall e-commerce spending increased 44%. The 35 to 54 age group increased only 5% and 55+ increased 18% (includes online travel).
Overall Internet Adoption rates still trail the U.S. and come in at approximately 52%. However, with the development of new Internet infrastructures and the maturation of Canadian ISP’s, this number will likely rise in the next 3-5 years. The following quote from the Canadian government re-enforces this theme.
“To reach our new national goal (relating to e-commerce) Canadians will need to develop strategies that build an intelligent infrastructure to serve as the backbone of the e-economy- by encouraging investment, strengthening research, enhancing commercialization and ensuring that all Canadians have access to this infrastructure and know how to use it.” (September, 2004)
Shifting demographics & lack of online competition equal a substantial opportunity…
Forrester Research reports that 48% of Canadian web shoppers are now female compared to 39% in 2003. 74% of web buyers are married and likely are home shoppers, compared to 68% in 2003.
With the gender gap closing, online home retailers have a great opportunity to target their core customer segment: the 30-40yr old female who owns or maintains a residence.
Within this sector, it is rare for U.S. based retailers to have online Canadian stores. Many brands will ship to Canada, for very high costs (customs duty & shipping) but this likely leads to an unpleasant experience for the Canadian consumer. These high costs, compiled with a lack of domestic Canadian retailers providing an e-commerce offering, are driving the stagnant growth of the online sales channel.
By being a “first-mover” in establishing a presence in the online marketplace within Canada, online retailers will facilitate sales from consumers that want to get products shipped from their native homeland after being paid for in Canadian currency.
Similar to the U.S., consumers are exhibiting multi-channel tendencies and embracing the emergence of broadband connectivity…
Canada is the only country in the world in which broadband overtook dial-up access in 2003. Currently 48% of all Canadian consumers have broadband access and they are 67% more likely to have high speed web-access than American consumers.
This impressive penetration may prove to be a strong driver for online circulars and new online merchandising tactics, as product differentiation are established outside of price.
Canadian shoppers are also parallel to U.S. consumers in their multi-channel behavior. 58% of Canadian shoppers have researched a product online and purchased offline, spending an average of $440. An online Canadian strategy must focus on integrating the online and physical store with store locator functionality and other tools to promote cross-channel behavior.
In conclusion, multi-national retailers should closely examine the Canadian eCommerce opportunity. Attractive consumer demographics, an established broadband infrastructure, and a shift in overall shopping tendencies make the Canada a high-growth and un-saturated area for multi-channel retail.
Craig Smith
Trinity Insight LLC
http://www.trinityinsight.com/
Word Count:
567
Summary:
Canadian eCommerce growth was recently flat but still has an attractive upside…
Recent studies found that Canadian retail e-commerce growth was flat year over year (2003-2004). After further examination however, approximately 60% of the 100 largest non-travel sites succeeded in growing their sales over 20%.
Keywords:
ecommerce e-commerce emarketing e-marketing internet marketing web
Article Body:
Canadian eCommerce growth was recently flat but still has an attractive upside…
Recent studies found that Canadian retail e-commerce growth was flat year over year (2003-2004). After further examination however, approximately 60% of the 100 largest non-travel sites succeeded in growing their sales over 20%.
Also interesting is the trending of Canadians from buying at non-Canadian sites to domestic sites (63% domestic, 37% foreign). This “domestic shift” clearly benefits the launching of a new eCommerce business in Canada.
The sales opportunity lies with the “early adopters”, individuals primarily the 18-34 year old age range. This segment is more technologically savvy and more likely to purchase online. In a 2003 to 2004 sampling comparison, this segment’s overall e-commerce spending increased 44%. The 35 to 54 age group increased only 5% and 55+ increased 18% (includes online travel).
Overall Internet Adoption rates still trail the U.S. and come in at approximately 52%. However, with the development of new Internet infrastructures and the maturation of Canadian ISP’s, this number will likely rise in the next 3-5 years. The following quote from the Canadian government re-enforces this theme.
“To reach our new national goal (relating to e-commerce) Canadians will need to develop strategies that build an intelligent infrastructure to serve as the backbone of the e-economy- by encouraging investment, strengthening research, enhancing commercialization and ensuring that all Canadians have access to this infrastructure and know how to use it.” (September, 2004)
Shifting demographics & lack of online competition equal a substantial opportunity…
Forrester Research reports that 48% of Canadian web shoppers are now female compared to 39% in 2003. 74% of web buyers are married and likely are home shoppers, compared to 68% in 2003.
With the gender gap closing, online home retailers have a great opportunity to target their core customer segment: the 30-40yr old female who owns or maintains a residence.
Within this sector, it is rare for U.S. based retailers to have online Canadian stores. Many brands will ship to Canada, for very high costs (customs duty & shipping) but this likely leads to an unpleasant experience for the Canadian consumer. These high costs, compiled with a lack of domestic Canadian retailers providing an e-commerce offering, are driving the stagnant growth of the online sales channel.
By being a “first-mover” in establishing a presence in the online marketplace within Canada, online retailers will facilitate sales from consumers that want to get products shipped from their native homeland after being paid for in Canadian currency.
Similar to the U.S., consumers are exhibiting multi-channel tendencies and embracing the emergence of broadband connectivity…
Canada is the only country in the world in which broadband overtook dial-up access in 2003. Currently 48% of all Canadian consumers have broadband access and they are 67% more likely to have high speed web-access than American consumers.
This impressive penetration may prove to be a strong driver for online circulars and new online merchandising tactics, as product differentiation are established outside of price.
Canadian shoppers are also parallel to U.S. consumers in their multi-channel behavior. 58% of Canadian shoppers have researched a product online and purchased offline, spending an average of $440. An online Canadian strategy must focus on integrating the online and physical store with store locator functionality and other tools to promote cross-channel behavior.
In conclusion, multi-national retailers should closely examine the Canadian eCommerce opportunity. Attractive consumer demographics, an established broadband infrastructure, and a shift in overall shopping tendencies make the Canada a high-growth and un-saturated area for multi-channel retail.
Craig Smith
Trinity Insight LLC
http://www.trinityinsight.com/
Wednesday, February 16, 2011
Blogs, Podcasting, and RSS
Blogs, Podcasting, and RSS
Word Count:
599
Summary:
You probably have heard all these terms an awful lot lately. You wonder about what these technologies do? What value to they provide? If you aren't up to speed on these new applications and how they are impacting retail online interaction then read this brief further.
Will these technologies impact you? To be honest, it's too early to tell - but awareness drives innovation and maybe your team will develop an idea/application that truly changes a portion of your eCommerce business.
Keywords:
ecommerce e-commerce emarketing e-marketing internet marketing web
Article Body:
You probably have heard all these terms an awful lot lately. You wonder about what these technologies do? What value to they provide? If you aren't up to speed on these new applications and how they are impacting retail online interaction then read this brief further.
Will these technologies impact you? To be honest, it's too early to tell - but awareness drives innovation and maybe your team will develop an idea/application that truly changes a portion of your eCommerce business.
Here's the rundown:
Blogs
What it is:
Probably the most well known of the three, blogs allow everyday people to quickly develop a website and distribute any type of content that they desire. Many web entrepreneurs use this functionality to develop online stores within niche markets, while using search popularity to beat out larger retailers on the specific terms within the market.
Where Blogs make make sense is within targeted online communities. Certain blog authors develop a large base of specific visitors, hence the site becomes a target market for viral marketing. By integrating your brand image within the site experience at that SPECIFIC blog, you as an online marketer are able to truly segment your marketing PRIOR to converting someone as a customer.
Should you care:
If you have a very unique value proposition, or sell to a very specific or high-value customer segment, blogs can be a great way to increase overall brand awareness. You can better connect with your customers and provide detail into the current sales/promotions that you are providing.
Podcasting
What it is:
Pocasting should be just called mobile video broadcasting - Apple's marketing/development team did a great job with branding their device to a type of emerging media! Similar to traditional radio and television, mobile video broadcasting delivers branded content in either a paid/free environment, on someone's mobile MP3 player (Apple only does video currently, but that will change shortly). Retailers can use this communication channel to further connect to their customers with promotional events, while transmitting specialty programming to meet an interest need.
Should you care:
Not really. Until video podcasting penetration increases, it's still a limited channel for advertising. The best application available right now would be an online content segment that is digitally delivered to an opt-in list. As technology advances, you can potentially do this from your current opt-in page from your website and not from Apple's iTunes platform.
RSS
RSS stands for Real Simple Syndication and is a method for electronic content distribution. RSS is transmitted via the internet, but what makes it unique is that no downloading efforts are needed by the end receiver of the content. It streams instateneously. Consumers can have news readers on their computers, either integrated into an emal client, or an aggregated web application such as News Gator, and are able to get information relating to their interests.
Already gaining steam in the travel industry and within comparison shopping engines, RSS seems to be a valuable way to push news, offers, and infomrmation to customers. Travel companies are able to provide a streaming supply of last minute airfare offers to their customer segments, without that customer having to open an email or visit a webpage.
Should you care:
Depends on the nature of your business. Do you consistently offer new prices? Do you get new pieces to your assortment consistently? Do you have a customer base that is extremely loyal that you want to reach out to with messaging? If so, RSS may another channel to help build your brand.
Craig Smith
Trinity Insight LLC
http://www.trinityinsight.com/
Word Count:
599
Summary:
You probably have heard all these terms an awful lot lately. You wonder about what these technologies do? What value to they provide? If you aren't up to speed on these new applications and how they are impacting retail online interaction then read this brief further.
Will these technologies impact you? To be honest, it's too early to tell - but awareness drives innovation and maybe your team will develop an idea/application that truly changes a portion of your eCommerce business.
Keywords:
ecommerce e-commerce emarketing e-marketing internet marketing web
Article Body:
You probably have heard all these terms an awful lot lately. You wonder about what these technologies do? What value to they provide? If you aren't up to speed on these new applications and how they are impacting retail online interaction then read this brief further.
Will these technologies impact you? To be honest, it's too early to tell - but awareness drives innovation and maybe your team will develop an idea/application that truly changes a portion of your eCommerce business.
Here's the rundown:
Blogs
What it is:
Probably the most well known of the three, blogs allow everyday people to quickly develop a website and distribute any type of content that they desire. Many web entrepreneurs use this functionality to develop online stores within niche markets, while using search popularity to beat out larger retailers on the specific terms within the market.
Where Blogs make make sense is within targeted online communities. Certain blog authors develop a large base of specific visitors, hence the site becomes a target market for viral marketing. By integrating your brand image within the site experience at that SPECIFIC blog, you as an online marketer are able to truly segment your marketing PRIOR to converting someone as a customer.
Should you care:
If you have a very unique value proposition, or sell to a very specific or high-value customer segment, blogs can be a great way to increase overall brand awareness. You can better connect with your customers and provide detail into the current sales/promotions that you are providing.
Podcasting
What it is:
Pocasting should be just called mobile video broadcasting - Apple's marketing/development team did a great job with branding their device to a type of emerging media! Similar to traditional radio and television, mobile video broadcasting delivers branded content in either a paid/free environment, on someone's mobile MP3 player (Apple only does video currently, but that will change shortly). Retailers can use this communication channel to further connect to their customers with promotional events, while transmitting specialty programming to meet an interest need.
Should you care:
Not really. Until video podcasting penetration increases, it's still a limited channel for advertising. The best application available right now would be an online content segment that is digitally delivered to an opt-in list. As technology advances, you can potentially do this from your current opt-in page from your website and not from Apple's iTunes platform.
RSS
RSS stands for Real Simple Syndication and is a method for electronic content distribution. RSS is transmitted via the internet, but what makes it unique is that no downloading efforts are needed by the end receiver of the content. It streams instateneously. Consumers can have news readers on their computers, either integrated into an emal client, or an aggregated web application such as News Gator, and are able to get information relating to their interests.
Already gaining steam in the travel industry and within comparison shopping engines, RSS seems to be a valuable way to push news, offers, and infomrmation to customers. Travel companies are able to provide a streaming supply of last minute airfare offers to their customer segments, without that customer having to open an email or visit a webpage.
Should you care:
Depends on the nature of your business. Do you consistently offer new prices? Do you get new pieces to your assortment consistently? Do you have a customer base that is extremely loyal that you want to reach out to with messaging? If so, RSS may another channel to help build your brand.
Craig Smith
Trinity Insight LLC
http://www.trinityinsight.com/
Subscribe to:
Posts (Atom)