Like me, many folks missed out on Online Retailer this year (yet again!) but thanks to Twitter and the #orec hashtag, it’s almost as if we were there!
To make it a bit easier to catch up, I’ve collected some of the better tweets about #orec for your convenience.
It has been a bit of a rush but I’m sure you’ll get what it’s about. Please do enjoy!
great online retailer = service
cheaper and easier to update mobile site than app
95% research on web before buying
65% of instore sales started on the web
65% of users of daily deals return to the merchant, 42% say they wouldn’t use a deal service again
19% of tweets mention a brand says google
google’s focus: browsing experiences, geo and local places, mobile commerce
85% of Oz retailers don’t have smartphone-friendly website
79% those w/smartphones use for online shopping! And check 40x a day! Huge opp
Small Australian retailers are leading the pack in online retail
in Australia avg conv rate in AU 4.9% in US 2.9%
29% growth prediction by Aussie online retailers over the next 12 months
Then longer you have been online as a customer, the more you will spend.. A customer who has been online 5 years spends more than one who has been online 2 years
49% of Australian online retailers provide in-store pick up
australian multichannel retailers don’t feel that they are providing a seamless cross channel experience to customers.
Search still the best source of customers for Aussie retailers
The most popular places to use a smartphone are at home and work.
Mobile customers are looking for great cross channel experiences
Australians focusing too much on social media
Only 20% of online retailers say that social media has been an effective customer acquisiton tactic But 70% of online retailers will use #social as a marketing focus in the coming year
social provides ‘soft ROI’ – first #marketingjargon of the day at #orec
What haven’t aussies gotten into affiliate marketing? What barriers to entry?
9% of Australian online retailers say affiliate marketing programs is an effective customer acq. channel vs 49% in the US
Only 9% of Australians use affiliate marketing v USA 49%
Affiliate marketing looks set to boom in Australia over the coming years
Why don’t you have a mobile optimised site? How to get one or build one. Slides from #orec 2011 :http://slidesha.re/oeqjbK
Don’t let perfect get in the way of better – Gabby Leibovich, Co-founder Catch of the Day
45,000 people join Catch of the Day and Scoopon each day – just due to word of mouth, no marketing… very impressive
Catch Of The Day ship 6/7 semi trailers of orders per day with Australia Post!
Catch of the Day guy is fiercely entertaining and insightful.
Huge growth with no marketing budget
Stats on Catch of the Day: 100% growth yearly since launch, 150,000 daily visitors
Catch of the day sell 10k shoes in a 24 hour sale – Old school footwear retailers cannot compete with this
catch of the day set to grow by 250 percent
run Scoopon with no marketing budget. All word of mouth. Unbelievable Interesting.
Scoopon started with catch of the day database to start offering its services
Clicktale for conversion optimization for checkout! you’ve got 2 seconds before you lose your mobile customer!
get started , click here, fix my glass.. focus people on the goals and outcomes when you’re using call to action buttons!
We used a strategy called Growth By Experimentation – or in normal terms trial and error’ Grays Online
Just because a certain activity is not driving sales online, doesn’t mean it won’t drive sales instore.
What is driving your conversion rate? Is it the day, channel or promotion?
Nike stormed market in ’72 – v exciting but created bad habits. Now a radical re-think re running shoes… just like e-tailing
Online retail started as small movement but now 5% of market shopping online and there’s not turning back
Three biggest challenges etailers face: building without a plan, price wars and technology challenges
Only 35% of retailers have a documented strategic plan ~ BRW & AMP Capitol report ‘Business of retail 2011?
Should be about showing your customers greater value not discounting
Get to know your customers so you can drive relevance Give your high value clients VIP experiences.
Know your top 50 customers intimately
Give your lower value customers repeat purchase stimulation
We don’t see our sites with our customers eyes – they just want the site to work for them – we see ‘tree stumps’
Enhance the value of your brand from day one until customers are your advocates – unlocking the power of permission
Flirt with your prospects; drive them to your site with engaging methods
Be specific in error messages on your site to provide better customer experience
Parklife know their customers – Facebook competition 2 for world’s most ridiculously expensive ticket.
All about value Zappos all about value and not price.
Tell customers they’re not the cheapest but focus on customer service
Integrated email one of most impactful and under-utilised method of successful marketing
Personalised welcome email within 30 days of registration followed by program of comms
Cart abandonment programs are important; anywhere from 30-70% shoppers abandon their shopping cart
Three types of cart abandonners: One-time abandoner, Serial abandoner & recent goal abandoner – can recover sales
Only 17% of top 500 online retailers run cart abandonment programs! ~ Silverpop
Merch solutions produce more relevant offers 2 increase conversion rates, average order value & improve overall user experience
Online shoe browsing is longer and more important than other apparel
Twitter can work if you have a proper strategy
Multiple comms w targeted content can have direct impact on purchase intent
Purchased an iPad2 from @JBHiFi in-store today – only $9 more than @Kogan but I didn’t have to wait. We consumers are a fickle bunch.
Onsite Search customers convert better so make sure that you optimize your search experience
Easier to deliver service to customers when working to a plan
Utilise email – low cost and you can deal one-to-one.
Do it right. Have a plan.
Best examples used for cross selling websites from IBM: westfields, Surfstitch & oo.com.au Good to see 2 out of 3 use ChannelAdvisor
Wai Hong Fong from OZhut – 80% of his customers start from search
‘Sale’ keyword is higher than ‘cheap’ keyword. Bargain hunters and tight arses have updated their vocabulary
http://www.ozhut.com.au/toolstogatherdata – tools to gather data c/o OzHut
Your first brand customer touchpoint can be your google adwords; do they represent your brand?
Customer service is the number one value customers look for online. Low price is 5th
Download Permission White Paper “Top 10 tips to online retailing success” at wp.permission.com.au
Gaming lifts the level of shopper engagement. Eg – sneakpeeq
Exclusivity also lifts the level of customer engagement eg. BrandsExclusive
56% of people start shopping process with a search engine – google
44% of online purchases in Australia are for overseas retailers
Q4 2010 more smartphones sold than PCs for first time ever
Social is about the conversation. Email is about the conversion
Love it – marketing acronym gone nuts ‘mocial’ = mobile + social + local + email
Takes 15 mins to set up email optin forms on Facebook Social sign in for web forms increase form conversion by 10-50%
71% of US top 500 retailers only use Facebook like buttons in emails moving from share to social and find us on FB
Email content needs to be shareworthy for share to social to work.
Brandsexclusive.com.au photograph and catalogue 12,000 products a month, and each is online for only 2 days!
Positive surprise is the single most important driver of word of mouth
Google guy: “1 in 4 people use iPhones in the toilets.” I say that’s crap- it’s 4 out of 4. (Gabby of COTD)
my fav quote from the day “be impatient for profit and patient for growth” #BrandsExclusive
