Ramping up retail digital marketing
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An overview of the e-commerce landscape in Australia and New Zealand - and what to do to ramp up your online marketing efforts
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Ramping up retail digital marketing
- 1. Ramping-up Retail Digital Marketing How to think about retail digital strategy in 2014
- 2. Working Three Pty. Ltd.T/A W3, 2014.All rights reserved. W3, 41 Cubitt Street, CremorneVIC 3121,Australia workingthree.com The retail landscape in Australia & New Zealand Over the last 6 years the retail landscape in Australia and New Zealand has undergone a major transformation.! E-commerce sales continue to climb.! Some categories, like fashion and cosmetics, are growing much faster than others.! Changes in consumer behaviours and competitive landscape took many local retailers by surprise.! Australian retailers, big and small, have stepped up their level of investment in online sales. 2
- 3. Working Three Pty. Ltd.T/A W3, 2014.All rights reserved. W3, 41 Cubitt Street, CremorneVIC 3121,Australia workingthree.com Getting your strategy right Ensure your digital strategy is aligned to your:! Business objectives! Brand positioning! Customer expectations 3
- 4. Working Three Pty. Ltd.T/A W3, 2014.All rights reserved. W3, 41 Cubitt Street, CremorneVIC 3121,Australia workingthree.com 4 Types of Digital Marketing Companies 1. Leaders! Mastered the two main capabilities involved in maintaining an online presence:! Insights and analysis ! Platforms and activation ! 2. Scholars! Skilled at consumer insights and analytics! Not yet converted the insights and analyses into profitable action 4
- 5. Working Three Pty. Ltd.T/A W3, 2014.All rights reserved. W3, 41 Cubitt Street, CremorneVIC 3121,Australia workingthree.com 4 types of Digital Marketing Companies 3. Pioneers! Established a robust presence in digital media! Are not grounded in insights about their customer base! 4. Novices! Still coming up to speed in the practices of digital marketing! ! Where does your business sit on the Digital Marketing spectrum? 5
- 6. Working Three Pty. Ltd.T/A W3, 2014.All rights reserved. W3, 41 Cubitt Street, CremorneVIC 3121,Australia workingthree.com How to choose the right marketing model Three categories of digital strategy:! 1. Digital Branders! Often consumer product companies ! Focused on recruiting new consumers, increasing advocacy and driving loyalty! 2. Demand Generators! Focused on driving traffic and converting leads in the fewest steps possible! Driving volume and efficiency! 3. Product Innovators ! Use digital marketing to identify, develop, and roll out new digital products and services 6
- 7. Working Three Pty. Ltd.T/A W3, 2014.All rights reserved. W3, 41 Cubitt Street, CremorneVIC 3121,Australia workingthree.com How to choose the right marketing model Digital Strategy is about understanding and designing the entire digital customer experience journey! Make sure you have the basics covered! Build a digital programme that pays for itself quickly 7
- 8. Working Three Pty. Ltd.T/A W3, 2014.All rights reserved. W3, 41 Cubitt Street, CremorneVIC 3121,Australia workingthree.com Database Growth Vital strategic assets for an online retailer;! Active leads! Qualified leads! Active customers 8
- 9. Working Three Pty. Ltd.T/A W3, 2014.All rights reserved. W3, 41 Cubitt Street, CremorneVIC 3121,Australia workingthree.com Conversion rate optimisation Conversion rate optimisation is a key component of any digital programme.! Conversion rate optimisation focuses on the performance of metrics like:! Digital touch points with potential consumers! Email open rates! Search marketing performance! E-commerce website performance 9
- 10. Working Three Pty. Ltd.T/A W3, 2014.All rights reserved. W3, 41 Cubitt Street, CremorneVIC 3121,Australia workingthree.com Marketing Automation Marketing automation ensures all of your digital marketing activity operates at maximum efficiency. ! ! “Companies using marketing automation see 53% higher conversion rates than non users”! - Aberdeen Group July 2012! ! Marketing automation is a combination of tools, processes and resources needed to ensure that you can capitalise on opportunities. 10
- 11. Working Three Pty. Ltd.T/A W3, 2014.All rights reserved. W3, 41 Cubitt Street, CremorneVIC 3121,Australia workingthree.com Conclusion ! “2014 will be seen as the year that Australian retailers stopped fighting digital disruption and started using technology to make their mark on the world” - Mark Cameron (CEO, Working Three) 11