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Best Ecommerce Digital Marketing Practices for SMBs and Start-Ups - Singapore

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I presented this deck at the Singapore SPRING DBS Ecommerce Summit for small businesses and start-ups. Topics include digital marketing best practices and case studies for three key areas:
1. Get people to your online store
2. Get them to buy
3. Get them to come back

Published in: Internet
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Best Ecommerce Digital Marketing Practices for SMBs and Start-Ups - Singapore

  1. 1. DIGITAL MARKETING MUST-HAVES BEST PRACTICES FOR ECOMMERCE AUGUST 2016
  2. 2. Hello!
  3. 3. Today we're going to focus on digital marketing best practices for three key areas: 1Get people to your e-store 2Get them to buy 3Get them to come back
  4. 4. First and foremost… You must know your business goals and who your customersare
  5. 5. WHY? Because whatever you learn from me today won’t work unless you are clear on what your business needs, your customer needs and how you measure that success
  6. 6. SET CLEAR BUSINESS GOALS
  7. 7. Business goals should ultimately help you either SAVE MONEY MAKE MONEY BUILD BRAND LOYALTY
  8. 8. 80%of small business owners don’t keep track of their business goals. 77%have yet to achieve their vision.
  9. 9. Business goalsare like destinations, they help give you something to work towards and be accountable for in thenext 3-5 years
  10. 10. Business goals usually fall into four categories: Service Goals Social Goals Profit Goals Growth Goals CUSTOMER RETENTION, IMPROVING CUSTOMER SERVICE SATISFACTION INCREASING PROFITS BY A SPECIFIC AMOUNT OR PERCENTAGE EXPANDING TO NEW MARKETS OR REGIONS, HIRING MORE EMPLOYEES GIVING BACK TO THE COMMUNITY THROUGH VOLUNTEER ORGS, ETC
  11. 11. § Specific § Measurable § Action-Oriented § Realistic § Time-Specific Achieve your business goals by breaking them into bite-size chunks. Create short-term SMART goals
  12. 12. Iwillincreasemysales2%eachmonth bylaunchingasocialmediamarketing campaignandrunningaonceamonth freeworkshoptilltheendoftheyear byincreasingawarenessand footfalltomystore. Increasesalesannuallyby24% ✓ SMART Goal/ObjectiveBusiness Goal ✓
  13. 13. KNOW YOUR CUSTOMERS
  14. 14. In today’s age you have to know who your customers are and their ‘buckets’ aka customer segments. This will help you know how to service, sell and build a relationship with them. All things digital marketing can help you with.
  15. 15. HOW? You look at your customers demographic data and psychographic data, group them by shared characteristics and put them in ‘buckets’. Once you have your buckets you label them. You have now created customer segments.
  16. 16. Demographics HELPS YOU UNDERSTAND WHO BUYS Psychographics HELPS YOU UNDERSTAND WHY THEY BUY §  Age  §  Location §  Gender §  Income level §  Education level §  Marital or family status §  Occupation §  Ethnic background §  Household type §  Personality §  Attitudes §  Values §  Interests / hobbies §  Lifestyles §  Behaviour §  Culture
  17. 17. UNDERSTAND THE CONSUMER PURCHASE JOURNEY
  18. 18. GETPEOPLETO YOURONLINESTORE GETTHEM TOBUY GETTHEM TOCOMEBACK AWARENESS CONSIDERATION INTENT PURCHASE LOYALTY ADVOCACY The consumer purchase journey helps you determine how and when to engage with your customers
  19. 19. GET THEM TO YOUR ONLINE STORE (AWARENESS)
  20. 20. WEB ADDRESSES (also known as URLs)
  21. 21. Don’t underestimate the importance of having a web address that people will remember and recognise as your brand. It will make it easier for them to find you.
  22. 22. If your brand name is not available remember your business goals and determine strategy from there.
  23. 23. Do target a specific location if your business is local. Also may help if the .com isn’t available.
  24. 24. Future-proof. If both the .com and .com.sg are available get both. Also think of the length of your URL and shorten appropriately
  25. 25. WORK WITH INFLUENCERS (also known as influencer marketing)
  26. 26. 92%of people trust recommendations from individuals (even if they don’t know them) over brands. 51%of marketers believe they get better customers from influencer marketing. That’s because the relationship began with trust in the influencer.
  27. 27. WHAT IS INFLUENCER MAREKTING? “Successful influencer marketing converts influencers into fans of your business' products/services and encourages them to help you get your message out to their audience through their blogs, social media accounts and email newsletters.” General Assembly SG Influencer Marketing course description
  28. 28. Make sure the influencers you select resonate with your customers and fits your brand. And the content that is created reflects authenticity and what’s really happening right now.
  29. 29. If you are not authentic the backlash will be quick and you can lose customers trust. Don’t try to pass off advertising as a customer review
  30. 30. There are different types of Influencer Marketing Campaign tactics you can use. Pick one, set your objectives clearly and test how well it works. §  Honest Review §  Unboxing §  Try-on Clothing §  How to / Tutorial §  First Impression §  Giveaway / Contest
  31. 31. The best strategy for picking the right influencer? §  Context §  Past Partnerships §  Audience Responsiveness §  Reach (who and where) §  Building a long-term relationship
  32. 32. GET THEM TO BUY (CONSIDERATION, INTENT & PURCHASE)
  33. 33. AD RETARGETING CAMPAIGNS (also known as Ad Remarketing on Facebook)
  34. 34. Online studies show that only 2% of users purchase something on their first visit 71%will leave a digital checkout before they finish ordering.
  35. 35. That means you are going to have quite a few customers coming and going before they buy from you. Which is why you need to make sure they keep coming back.
  36. 36. So what is Ad Retargeting? Uservisitsyourwebsite,looks atafewpages,maybeleaves somethingincart,leaves Theyseeyourretargeting adsofproductwhilethey browseafter Usercanselectadto returntoyoursite, browseand/orpurchase LEAVES RETURNSVISITS
  37. 37. Ad Retargeting can bring back26%of customers who left something in their cart. Without it you are looking at about8%. 72% of millennial shoppers are favorable to retargeting.
  38. 38. Ad Retargeting in action:
  39. 39. Some things to consider to get the most out of your retargeting campaigns §  Give customers an offer to sweeten the deal coming back. Yankee Candle increased conversion rates 600% with this simple offer. §  Update the ad you are retargeting by using different copy and images to avoid users ignoring your ad because they are used to it. A study showed a 50% decrease in effectiveness over a 5 month time frame of the same ad. §  Don’t stalk your customers and annoy them! Know if they have purchased the item and set a limit to how many times you will re-target them.
  40. 40. GUEST CHECKOUT
  41. 41. 23% of users will abandon their shopping cart if they have to create a new user account.
  42. 42. Don’t make users have to create an account to buy something from you. Always give them a guest option.
  43. 43. If you have a membership-model and believe firmly in it, then make sure an account can be created by signing in with Facebook or Google.
  44. 44. GET THEM TO COME BACK (LOYALTY & ADVOCACY)
  45. 45. USE YOUR DATA!
  46. 46. When you move into loyalty and advocacy within your consumer journeyyou need to use the same demographic and psychographic data we talked about earlier with the additional transactional and user history to better service, personalise and build relationships with your customers.
  47. 47. Define Measure Process Generate Evaluate Optimize Determine & Gather Success Metrics Determine the KPIs to track Eg. Online Cart Checkout Rate, New Customers vs Returning Customers Make sure your data is complete and good! Ensure data quality & integrity Eg. Make sure there isn’t duplicates, blank cells, incorrect info or data entry, etc. Create Effective Reports Automate & deliver meaningful stats Eg. Present all metrics with respect to the conversions, perform customer segmentation Deliver Actionable Insights Deep-dive analysis with machine learning Eg. Identify cross-sell opportunities, new features Use your Business Goals Align key corporate objectives, targets & benchmarks Eg. Increase Customer Acquisition by 10% Test Recommendations Validate hypothesis & implement Eg. Test different variations to ascertain which approach to use DATA-TO-INTELLIGENCE FRAMEWORK
  48. 48. WHY? It costs 500%more to acquire new customers than it does to keep current ones.
  49. 49. WHY? More than 50%of shoppers say they would pay a higher price for the customer experiences they value most. 77%would be more loyal to stores that provide their personal top three customer experiences.
  50. 50. WHY? 56%of customers are more likely to buy with a personalized experience. 41%of consumers say they purchase more from retailers that send them personalized emails based on past behavior.
  51. 51. WHY? 74%of consumers get frustrated with websites when content (e.g. offers, ads, promotions) appears that has nothing to do with their interests. A customer is 4xmore likely to buy from a competitor if the problem is service related vs. price or product related.
  52. 52. THANK YOU! GERARD LIM MANAGING DIRECTOR / SINGAPORE GERARD.LIM@POSSIBLE.COM MELISSA WILFLEY EXPEIENCE DESIGN DIRECTOR / APAC MELISSA.WILFLEY@POSSIBLE.COM  

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