Ecommerce Trends & Conversion Strategy | Michael Vorel

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Michael Vorel, CEO of Vastplanet.com presentation on: Ecommerce Trends & Conversion Strategies - Learn from the Leaders. Discover current trends in ecommerce and find out who the market leaders are and why they are successful. The session is perfect for the prospective online store owner, existing store owner or internet marketer to better understand what's needed to succeed in today's online business.

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Ecommerce Trends & Conversion Strategy | Michael Vorel

  1. 1. E-Commerce Trends & Conversion Strategies<br />Michael Vorel<br />CEO, Vastplanet Corporation 2.28.10<br />
  2. 2. Who is Michael Vorel?<br /><ul><li>CEO / Founder Vastplanet Corporation, 1998
  3. 3. Ecommerce Development
  4. 4. Internet Marketing Management
  5. 5. Affiliate Marketing, SEO, PPC, Social Media, Email, Video
  6. 6. Consulting
  7. 7. 10 Years experience in computer industry
  8. 8. International product marketing, sales, marketing, purchasing & management</li></li></ul><li>Agenda for Today’s Presentation<br /><ul><li>E-Commerce Today
  9. 9. Market Conditions
  10. 10. Consumer Trends
  11. 11. E-Commerce Leaders
  12. 12. Conversion Techniques
  13. 13. Action List </li></li></ul><li>5 Winners! 1 Hour of Consulting <br /><ul><li> 2 Ways to Win!
  14. 14. Tweet about the session with @michaelvorel or @vastplanet & #nle in your post.
  15. 15. Submit a Question during the presentation.
  16. 16. 5 Random Winners
  17. 17. What Can you Win?
  18. 18. 1 hour Private Consultation session.
  19. 19. We can discuss your e-commerce store, internet marketing, business idea, social media, email marketing, affiliate or new business strategy.
  20. 20. No Strings attached!</li></li></ul><li>Ecommerce Today<br />BUSINESS<br />CONSUMER<br />DIRECT<br />DIRECT<br />EcommerceMerchant<br />Affiliate<br />Affiliate<br />DIRECT<br />DIRECT<br />Social Media<br />Twitter/Facebook<br />Search Engines<br />SEO, PPC, Other<br />Mobile Other<br />
  21. 21. Source: Internet Retailer 2009 Edition<br />Market Conditions<br />Revenue<br />Top 500 Merchants Revenue $115.8B (+11.7%)<br /><ul><li>Top 100 Merchants Revenue $98.6B (55% of total)
  22. 22. Amazon Revenue $19.17B (+29.5%)</li></ul>Trends<br /><ul><li>Economic Forces
  23. 23. Luxury Returning & Necessity is In
  24. 24. Winners Investing in Technology
  25. 25. Social Media Impact
  26. 26. Mobile changing landscape</li></li></ul><li>Source: Internet Retailer 2009 Edition<br />
  27. 27. What’s Selling?<br /><ul><li>Categories Rising
  28. 28. Apparel / Accessories
  29. 29. Food / Drug
  30. 30. Health / Beauty
  31. 31. Mass Merchant
  32. 32. Categories In Decline
  33. 33. Teen Clothing & Accessories
  34. 34. Hardware / Home Improvement
  35. 35. Housewares / Home Furnishings
  36. 36. Flowers / Gifts
  37. 37. Toys / Hobbies (rising)
  38. 38. TIP – Add Rising Categories</li></li></ul><li>What Categories Lead?<br />
  39. 39. Holiday Shopping 2009<br />Heavy Pre-Holiday Offers, Free Shipping<br />Traffic to Coupon Sites (+76% Nov) (Coupons.com, EverSave.com, RetailMeNot.com<br />4 out of 5 online in U.S. visited a retail site (Nov)<br />$913 million on Tues - Dec 15 (Record)<br />9 days this year, consumers spent $800+ Million in day<br />48 Days of Online Shopping = $24.8 Billion (+4%)<br />Largest sales days – midweek<br />Data Source – ComScore<br />
  40. 40. Holiday Shopping 2009<br /><ul><li> Toys, Consumer Electronics, Department Stores, each growing more than 30% vs. October 09
  41. 41. Toys Category (+33%)
  42. 42. ToysRUs, LEGO, Disney, American Girl
  43. 43. Consumer Electronics (+32%)
  44. 44. BestBuy, Walmart, RadioShack, eBay, Buy.com
  45. 45. Online Department Stores (+33%)
  46. 46. Walmart, Target, Sears, JCPenny, Macy’s</li></ul>Data Source – ComScore<br />
  47. 47. Holiday Shopping 2009<br />
  48. 48. What Can You Add?<br />
  49. 49. Who Should You Watch?<br />
  50. 50. E-Commerce Trends <br /><ul><li>Personalization
  51. 51. Mobile E-Commerce
  52. 52. Segmentation
  53. 53. Behavioral Profiles
  54. 54. Social Media (Facebook, Twitter) 
  55. 55. Building Loyalty
  56. 56. Enhanced Search & Navigation
  57. 57. Product Reviews
  58. 58. Video
  59. 59. Shopping Guides</li></li></ul><li>Personalization (You, Your)<br /><ul><li>Welcome, Michael Vorel
  60. 60. Recommendations for You (behavioral learning)
  61. 61. Your Browsing History (cookies & account registration)
  62. 62. Rate These Items (social media, reason to return)
  63. 63. Remember You Saved these? (wishlist)
  64. 64. Your Communities (social media)
  65. 65. Want to See Today’s Deals? (Conversion)
  66. 66. Individual Treatment Creates (Loyalty)</li></li></ul><li>Mobile E-Commerce <br /><ul><li> Personalization
  67. 67. Sync with Account
  68. 68. Payment Integrated
  69. 69. Product Reviews
  70. 70. Select Products
  71. 71. Conversion  </li></li></ul><li>Segmentation & Behavioral Profiles<br /><ul><li> Market Individually
  72. 72. Create Email Alerts
  73. 73. Convert Later
  74. 74. Compile Profile
  75. 75. Record Everything
  76. 76. Convert Now
  77. 77. Tip – Segment Emails</li></li></ul><li>Follow-Up Emails<br /><ul><li> Should be Personalized
  78. 78. Reminds them of purchase
  79. 79. Related Products
  80. 80. Up-Sell
  81. 81. Conversion Alternatives
  82. 82. Tip - Include
  83. 83. Coupon
  84. 84. Twitter
  85. 85. FaceBook Fan Club</li></li></ul><li>Sharing is In<br /><ul><li> Email Sharing
  86. 86. Facebook, Twitter, Other
  87. 87. Creates </li></ul>Community<br />Opportunity<br />Conversion<br /><ul><li>TIP– Sharethis.com & Addthis.com</li></li></ul><li>Social Media (Facebook 5.5% share)<br />
  88. 88. Navigation<br /><ul><li> Reduce Clutter
  89. 89. Organize by Popularity
  90. 90. TIP - What Sells?</li></li></ul><li>Video is Rising!<br />
  91. 91. Online Video Viewers spend 13% more!<br />
  92. 92. Video<br /><ul><li> Product Demos
  93. 93. Buying Guides
  94. 94. Video Tour
  95. 95. Top Sellers
  96. 96. Live Video
  97. 97. Tip – Buy Flip Cam</li></li></ul><li>Buying Guides Work<br /><ul><li> Video Library
  98. 98. Featured Articles
  99. 99. Involve Customers
  100. 100. Help & Advise
  101. 101. SEO Advantage
  102. 102. TIP – Use Feedback</li></li></ul><li>Amazon.com – Conversion Experts<br /><ul><li>2008 Sales of $19.1B (+29.5%)
  103. 103. 275M visitors/mo (56.5m unique)
  104. 104. Converts 3.45%
  105. 105. Avg. Sale $170
  106. 106. Traffic Comes from:
  107. 107. Search Engines (32%)
  108. 108. New Shoppers (30%)
  109. 109. Return Shoppers (70%)</li></li></ul><li>Amazon.com – Formula<br /><ul><li> Low prices + Great Selection
  110. 110. Free Shipping Offers
  111. 111. Amazon Prime (loyalty)
  112. 112. Personalization to highest degree
  113. 113. Combination of account history and behavioral learning to convert
  114. 114. Combines multiple merchants</li></li></ul><li>Amazon.com – Related Conversions <br /><ul><li> More Items to Consider
  115. 115. Related to Items You Viewed
  116. 116. Inspired by Browsing History
  117. 117. Additional Items to Explore
  118. 118. Inspired by Your Shopping Trends
  119. 119. Customers with Similar Searches
  120. 120. Your Recent History
  121. 121. Your Recent Searches
  122. 122. Tip – Add Recently Viewed</li></li></ul><li>Walmart.com<br /><ul><li> Visual vs. Text Approach
  123. 123. Shorter Navigation
  124. 124. Seasonal Approach
  125. 125. Connect With Others Like You
  126. 126. Save Money, Rollbacks
  127. 127. Value of the Day
  128. 128. Ship to Store (Tie Local)</li></li></ul><li>Apple.com<br /><ul><li> Visual Image Sell
  129. 129. Cross Sell, Up-Sell
  130. 130. Stay & Learn
  131. 131. Free Shipping</li></li></ul><li>Charlotte Russe<br /><ul><li> Social Shopping
  132. 132. Visual Shopping
  133. 133. Community
  134. 134. Contests</li></li></ul><li>Crutchfield<br /><ul><li> Heavy Content
  135. 135. Live Agents
  136. 136. Image vs. Text
  137. 137. Learn!</li></li></ul><li>Zappos – Bring it All Together<br /><ul><li> Reviews
  138. 138. Images
  139. 139. Related
  140. 140. Sharing
  141. 141. Shipping
  142. 142. Wishlist</li></li></ul><li>Ecommerce Strategies to Implement<br />Basic <br />Advanced<br /><ul><li>Condense Navigation
  143. 143. Integrate Social Media
  144. 144. Segment Customers
  145. 145. Add Shopping Guides
  146. 146. Create Best Sellers
  147. 147. More Visual Approach
  148. 148. Create Video
  149. 149. Add Live Help</li></ul>Personalization<br />Account Registration <br />Enhanced Search / Navigation<br />Mobile Applications<br />Cross Sell & Related Items<br />Email Alerts<br />Loyalty<br />International<br />
  150. 150. Thank You<br />Michael Vorel<br />Vastplanet Corporation<br />michael@vastplanet.com<br />phone: 813-679-2660<br />
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