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Live from IRCE: Key insights from the MarketingSherpa E-commerce Benchmark Study

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What drives e-commerce marketing success today? …

What drives e-commerce marketing success today?

MarketingSherpa, thanks to a research grant by Magento, an eBay company, embarked on a nine-month research project to help answer this question. The result is the MarketingSherpa E-commerce Benchmark Study, which addresses 25 core e-commerce questions based on responses from 4,346 marketers.

Join us for this special MarketingSherpa webinar, broadcast live from the world’s largest e-commerce event – IRCE 2014 – where marketing thought leaders will discuss key charts from the Benchmark Study, and how e-commerce marketers can use this data to overcome challenges and improve results in their own companies. You’ll learn from three expert marketers as they discuss:

• Overall e-commerce conversion rates
• Channels that drive significant traffic
• Barriers to growth that e-commerce marketers face

This webinar is sponsored by Magento.

Download your complimentary copy of the MarketingSherpa E-commerce Benchmark Study: MarketingSherpa.com/Ecommerce

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  • 1. Educational funding provided by: Ask questions and tell us what you learned on Twitter! #SherpaWebinar
  • 2. Educational funding provided by: Live from IRCE Key insights from the MarketingSherpa E-commerce Benchmark Study
  • 3. Educational funding provided by: Ask questions and tell us what you learned on Twitter! #SherpaWebinar
  • 4. Educational funding provided by: Speakers Black & White Headshot Ben Pressley Head of Worldwide Sales Magento @BRPressley Daniel Burstein Director of Editorial Content MECLABS @DanielBurstein Pete Prestipino Website Magazine Editor-in-Chief, Digital Marketing Strategist Website Magazine @peteprestipino
  • 5. Educational funding provided by: Related resources • MarketingSherpa E-commerce Benchmark Study — Made possible by a research grant from Magento • Marketing Research Chart: Tactics that are seeing a budget increase (and decrease) • SMB Marketing in 2013: 68% of small businesses to increase marketing budget • 8 Challenges Undermining Your Marketing Team • MarketingSherpa.com/IRCE
  • 6. Educational funding provided by:
  • 7. Educational funding provided by: • Visit MarketingSherpa.com/IRCE to watch interviews Join us in the media center! MarketingSherpa.com/IRCE
  • 8. Educational funding provided by: Challenge: Conversion rate optimization How can e-commerce companies increase conversion rates?
  • 9. Educational funding provided by: Most conversion rates fall below 5%.
  • 10. Educational funding provided by: Case Study: Test snapshot Background: Home delivery subscription has multiple delivery options Goal: To determine if reordering the delivery options would have an effect on the subscription mix and revenue Research Question: Which order of subscription options will yield the most revenue? Test Design: A/B/C split test
  • 11. Educational funding provided by: High to Low Low to High Popularity
  • 12. Educational funding provided by: 20% increase in revenue per visit Treatment 1 increased revenue per visit by 20%. Results Design Revenue per Visit Price - high to low 0.4 Price - low to high 0.5 Popularity 0.4 Relative Difference 20%
  • 13. Educational funding provided by: Challenge: Testing Does testing marketing campaigns impact conversion?
  • 14. Educational funding provided by: The e-commerce companies that implemented a testing strategy had higher conversion rates.
  • 15. Educational funding provided by: Case Study: Whirlpool Thomas Mender Senior Manager, Database Marketing Whirlpool Why One Test Triggered A 180° Turn in How All Whirlpool Brands Direct Market To Consumers
  • 16. Educational funding provided by: Previous process Agency builds creative Marketing team approves Creatives are published
  • 17. Educational funding provided by: Building customer profile Data collection Test is launched Current process Marketing team approves creatives Creating test ideas - collaborate Agency builds creatives
  • 18. Educational funding provided by: Challenge: Traffic sources Which channels drive the most traffic?
  • 19. Educational funding provided by: Biggest driver of traffic for higher-revenue companies is email.
  • 20. Educational funding provided by: Case Study: Whirlpool Thomas Mender Senior Manager, Database Marketing Whirlpool Background: Applying what was learned about minimizing CTAs in email sends at Email Summit 2013 Objective: To achieve a higher clickthrough rate Primary Research Question: Will having a single CTA be more effective than multiple CTAs? Test Design: Single variable A/B split test
  • 21. Educational funding provided by: Testing: Calls-to-action Treatment CTAs CTA Control
  • 22. Educational funding provided by: Results: Testing calls-to-action Calls-to-Action Tested Hand- raisers Purchasers (≤ 5 years) Purchasers (> 5 years) Current Ice Owners Avg. Control 1.23% 0.35% 0.40% 2.77% 1.19% Treatment 1.55% 0.54% 0.57% 4.34% 1.75% Relative Difference +26% +53% +43% +57% +42% 42% Increase in clickthrough rate The treatment increased CTR for each of the segments below.
  • 23. Educational funding provided by: Biggest driver of traffic for lower-revenue companies is organic search.
  • 24. Educational funding provided by: Case Study: One Call Now Jacob Baldwin Digital Marketing Manager One Call Now Background: Text-based communication subscription company Objective: To rank higher in search results.
  • 25. Educational funding provided by: Keyword Maps: Optimized Elements Meta descriptions
  • 26. Educational funding provided by: Keyword Maps: Optimized Elements “Meeting” “Appointment” “Conference” Use of strong tags to highlight keywords in the body copy
  • 27. Educational funding provided by: Keyword Maps: Optimized Elements Page Title “Protect, Inform, Engage Students, Parents and Staff”
  • 28. Educational funding provided by: Keyword Maps: Optimized elements Alt: “One Call Now’s Safe School Helpline is an anti-bullying tip line students can use to anonymously report bullying. Click to learn more” Image Alt Tags
  • 29. Educational funding provided by: Keyword Maps: Optimized elements Alt=“One Call Now’s Safe School Helpline is an anti-bullying tip line students can use to anonymously report bullying. Click to learn more” Use of H1 Tags
  • 30. Educational funding provided by: Keyword Maps: Optimized elements Alt=“One Call Now’s Safe School Helpline is an anti-bullying tip line students can use to anonymously report bullying. Click to learn more” URL Structure
  • 31. Educational funding provided by: Keyword Maps: Optimized Elements Alt=“One Call Now’s Safe School Helpline is an anti-bullying tip line students can use to anonymously report bullying. Click to learn more” Keyword Density
  • 32. Educational funding provided by: Keyword Maps: Optimized Elements Alt=“One Call Now’s Safe School Helpline is an anti-bullying tip line students can use to anonymously report bullying. Click to learn more” 48% increase in paid search traffic 32.3% increase in organic search
  • 33. Educational funding provided by: Challenge: Barriers to growth What barriers to growth are e-commerce companies facing?
  • 34. Educational funding provided by:
  • 35. Educational funding provided by: Case Study: IHS Byron O’Dell Senior Director, Demand Management IHS Key challenges in transforming from “batch and blast” to persona-driven email marketing Marketing Automation
  • 36. Educational funding provided by: Before: Batch and Blast • Lots of website traffic, no conversion • Lots of contacts, no insight • Unqualified leads
  • 37. Educational funding provided by: Tip: Ask for the persona 37 What is your current role?
  • 38. Educational funding provided by: Persona-specific messaging Inbound source customization Inbound source customization Persona-based customization
  • 39. Educational funding provided by: Progressive profiling Asking for more persona information
  • 40. Educational funding provided by: Results Asking for more persona information Program integration resulted in nearly 1,000 updated profiles that included additional segmentation fields such as buyer persona and areas of interest
  • 41. Educational funding provided by: Challenge: Budget Are successful companies increasing marketing budgets?
  • 42. Educational funding provided by: More successful companies are increasing their marketing budget.
  • 43. Educational funding provided by: Challenge: Traffic source How do customers get to e-commerce sites?
  • 44. Educational funding provided by: Organic search was the most frequently reported source of significant traffic at all success levels.
  • 45. Educational funding provided by: Case Study: Electric Fireplaces Canada Background: Canadian website selling electric fireplaces loses its once-desirable slot in SEO with penalties following a change in Google’s algorithm.
  • 46. Educational funding provided by: Case Study: Electric Fireplaces Canada Penalty Chart: Position in search
  • 47. Educational funding provided by: Campaign 1. Request removal of unnatural links to outside parties 2. Implement a guest posting effort 3. Consistent communication across the department and agency 4. Submit a formal request to Google to reconsider penalty
  • 48. Educational funding provided by: Results EFC Dimplex fireplaces Dimplex Canada Dimplex fireplace Dimplex electric fireplace Electric fireplace inserts 8-Oct 5 2 5 2 9 15- Oct 5 2 5 2 5 Penalty Reversed Avg. 5 Avg. 4
  • 49. Educational funding provided by: Challenge: Customer responsiveness What’s the correlation between customer response and success?
  • 50. Educational funding provided by: The more responsive companies are to customers, the more successful they’re likely to be.
  • 51. Educational funding provided by: Case Study: Jamaica Inn Background: After the 2008 recession, this tourism website struggled to generate interest with its direct-to- customer campaigns. Campaign: Develop a marketing program that was engaging for guests to build stronger relationships and loyalty.
  • 52. Educational funding provided by: Customer Responsiveness: Reputation Blog Posts Social Media
  • 53. Educational funding provided by: Customer Responsiveness: Reputation 52% increase in revenue
  • 54. Educational funding provided by: Challenge: Mobile How are departmental roles changing as mobile evolves?
  • 55. Educational funding provided by: IT shrinks as the channel becomes more prevalent.
  • 56. Educational funding provided by: Case Study: Ritz-Carlton Destination Club Alex Corzo Manager of Digital Communications & CRM Marriot Vacations Worldwide How the Ritz-Carlton Destination Club enhanced the effectiveness of mobile email marketing campaigns Optimizing the Evolving Landscape of Mobile Email Marketing
  • 57. Educational funding provided by: Pilot: Standard landing page 2
  • 58. Educational funding provided by: Pilot: IPhone landing page • Company logo • One sentence of copy • Online form fields, arranged vertically • Button to send
  • 59. Educational funding provided by: Enhanced mobile campaign
  • 60. Educational funding provided by: Mobile traffic driven by email marketing Q1 Q2 Q3 Q4 2.8% 5.5% 9.6%
  • 61. Educational funding provided by: Mobile traffic driven by email marketing Q1 Q2 Q3 Q4 2.8% 9.6% 5.5% 243% Increase
  • 62. Educational funding provided by: Challenge: The cost of customer acquisition What’s the trend in the cost of acquiring customers?
  • 63. Educational funding provided by:
  • 64. Educational funding provided by: Live from IRCE Key insights from the MarketingSherpa E-commerce Benchmark Study