Post on 25-Jul-2015
transcript
GPEC 2015
10 Vital Things Every E-Commerce Marketer
Should Monitor
● Father of twin boys, husband of one beautiful Romanian ;)● Born and raised in Canada● Been involved in Sales/Marketing Entire Career ● Investor and Entrepreneur Payza Bangladesh● Director Of International Business Development ● yousuf.khatib@marketizator.com● +40 729 145 623
Award winning integrated CRO platformA/B testing, personalization and surveys under the same roof40 types of segments in our own segmentation engine Amazon Web Services technology Dedicated presence in 9 countries (Germany, Poland, Austria, Serbia, Bulgary, Turkey, France,
Mexico, Romania)>2000+ websites have been tested with Marketizator and approaching a billion visitors!
Ease of setting up store doesn’t automaticly mean sales!
Marketers tend to focus on TRAFFICFB likes, Visitors.
Yes= 2Somewhat = 1No = 0
Score:_________
Data without Action is a Daydream
Action without Data is a Nightmare-Ivan Mazour (OMETRIA)
1. ROI2. YOY GROWTH3. CUSTOMER LIFETIME VALUE4. AVERAGE ORDER VALUE5. CONVERSION RATE6. CUSTOMER ACQUISITION COST7. CART ABANDONMENT RATE8. DAYS BETWEEN TRANSACTIONS9. VISITOR SATISIFACTION INDEX
10. NET PROMOTER SCORE (NPS)
1 Return on investment
2 YoY Growth
3 Customer Lifetime Value (CLV)
Studies reveal it cost 6 to 7 times more to acquire a customer than to keep an existing one!
● When focusing on Conversion Rate we must also know which customers are the most profitable.
● Access the Analytics Account and select two segments of traffic: New and Returning Visitors.
● Per channel see what the revenue is and subtract the costs = PROFIT per channel.
● For Ecommerce websites with activity that is greater than one year the calculation is a bit more complex. (we can help you with this!)
4 Average Order Value (AOV)
● Average order value(AOV) = Revenue/Number of Orders● Can be used to as criterion to determine the efficiency of
a marketing campaign. ● When used in conjunction with Conversion Rate, these
two KPI’s provide a more accurate analysis of the website.
● Increased by upselling post-selling emails, reccomendation engines.
5 Conversion rate
The Holy Trinity of Performance Marketing
Conversions
Branding Traffic
● Conversion Rate = Transactions/Visits
6 Customer Acquistion Cost
CAC - investment into acquiring a new customer.a. Determine costs with acquiring visitors with Search
and Display Campaigns■ Total Investment Per Campaign/Number of
Visitors on the website = $$ invested into new visitor
b. Costs associated with social media, email marketing and newsletter turning visitors into leads via micro-conversions. ■ $$$ invested in visitors/Number of Micro-
conversions = $$$ Invested in leads
c. Dollars Invested in Leads/Conversions = CAC
7 Cart Abandonment Rate
Enhanced Ecommerce to Track it:
● If the products and price are appealing may be a cart page issue:
● No security certificates;● Delivery time not displayed;● Unclear returns policy or not showing the returns policy;● Too few payment options;● Transport, shipping taxes are not visible;● The call to action button is not placed above the fold;● Copywriting doesn’t persuade;● No customer support sign (phone number, forms etc.);● Other distractions
8 Days between transactions
● Measure this by having a database and diving into the data● Allows you to have a proper follow-up, retargeting campaign
and emails.
● Measure this by having a database and diving into the data● Allows you to have a proper follow-up, retargeting campaign
and emails.
9 Visitor Satisfaction Index
● Scalable Measurement of visitor’s satisfaction with different aspects of the website:○ loading speed;○ ease of navigation;○ variety of products;○ delivery conditions;○ returns policy
● Unlike frequent buyers or raving fans of a brand/e-shop, visitors usually don’t accept so easily to answer to a survey. That’s why, small gifts like invitations to an event, vouchers for next purchases, samples can motivate them to answer to some questions. All of these ‘triggers’ can be displayed through interactions like pop-ups, interstitials on a website.
10 NET Promoter Score (NPS)
● This score reveals how many customers are willing to recommend a website to others. The most suitable instrument to measure this score is the survey. By raising the question ‘How likely is it that you recommend [the company/website] to a friend?’, 3 types of groups can be determined: Promoters, Passives, Detractors.
● Measurement: 0 to 10 points rating scaleScores:
9-10: Promoters-loyal customers7-8: Passives-satisfied customers, but not enthusiastic
0-6: Detractors- unhappy customers
Final Thoughts
● Download the ROI Template● Connect with me on LinkedIN for a thank you gift for being
so awesome. Will send you a code to double your Tested Views
● Contact us for help with metrics or CRO● Go Take on the World...no better time than now.
Sources
https://rjmetrics.com/resources/whitepapers/2014-ecommerce-benchmark-report
marketoonist.com martybucella.com linebridge.com