Webinar recap: New analytics for a new world of commerce

March 26, 2012 by Leave a Comment

We hope you caught Thursday’s presentation on optimizing analytics for connected commerce; it was an eye-opening look at how to capture and quantify the ever-more-complex interactions between consumers and brands. If you missed it, you can still visit MarketLive’s site for a replay download and whitepaper. A couple of the webinar’s key takeaways:

Web analytics reporting is just the beginning. With shoppers now roaming among eCommerce Web sites, mobile applications and social networks in their quest for products and brands to follow, merchants must compose a holistic view of consumer behavior — and that means moving beyond the Web analytics package to collect as much data as possible from wherever shoppers roam. In addition to email campaign metrics and paid search and banner tracking, merchants should take into account data from sources as diverse as:

  • Customer support logs
  • Loyalty card activity
  • Point-of-sale data
  • Social networks

Using common markers such as an email address can help connect the pieces of data to create a complete customer record that takes into account all their activities across touchpoints. MarketLive’s Kristi Burton noted that merchants should allay consumers’ privacy concerns about sharing data by stressing the benefits. For example, a point-of-sale cashier in a bricks-and-mortar store who requests an email address can explain that it will be used to help deliver better offers and product selection in the future, even if the shopper doesn’t elect to receive email alerts.

To use all that data, ask the right questions. Guest speaker Matt Hertig of Alight Analytics put it this way: Web reporting packages easily tell merchants “What happened?” — how many visitors clicked links and made purchases, which products garnered the most revenues, what pages had the highest “bounce” rates. But to gain sophisticated insight into consumer behavior, it’s key to move beyond these metrics to ask “Why did these actions occur?” and “What should I do next?”

Hertig demonstrated how dashboards tying together data from multiple sources, and segmented to focus on particular audiences, can answer those questions more precisely than eCommerce Web site analytics alone. For example, when MarketLive merchant Beauty Brands filtered traffic and revenue data to focus on mobile traffic and then segmented  further by specific device, the metrics revealed that although iPad users accounted for less than 16% of mobile visits, they drove more than 60% of mobile revenue — suggesting that the answer to the question “What should I do next?” for Beauty Brands should include campaigns and messaging targeted toward tablet users.

Analytics example from Alight Analytics

Find new ways to define “conversion”, especially for social. With consumers’ path to purchase becoming ever more circuitous, it’s key for merchants to track completion of intermediary goals along the route. Actions such as signing up for email updates or setting up wish lists represent a stepped-up level of engagement with a brand that merchants should track.

Specifically for social media, Hertig recommended defining goals that focus on driving brand awareness and engagement. He demonstrated a correlation between social interactions and site visits, which in turn drove revenues — showing that investment in creating social media buzz was indeed a worthy endeavor, creating a favorable first impression of the brand that led to increased sales.

The analytics Webinar was first in a series on optimizing your business in 2012 — watch for the next installment in May. Meantime, how are you using analytics to track customer behavior across touchpoints?

Filed under Analytics, Client Innovations, Connected Commerce, Social Commerce Tagged with Business Optimization

Webinar Preview: Optimize Your Business – Starting With Analytics

March 21, 2012 by Leave a Comment

Now is about the time when pundits and analysts release their annual trendspotting reports, naming the technologies and tactics that merchants should adopt in the year ahead. For 2012, we at MarketLive are focusing on a seemingly simple proposition: business optimization —  that is, fine-tuning your business to create a unified brand presence across customer touchpoints.

Why this focus on optimization, rather than the latest cutting-edge tactics? The answer lies with the customer experience. In the rush to keep up with technology, merchants are establishing more brand touchpoints than ever – but too often these efforts are generic and disconnected, delivering an experience that fails to take into account individual consumer behavior.

But cohesion is exactly what merchants need to deliver. It’s no longer enough simply to have a mobile site or a brand outpost on the newest social network; the effort must be integrated with the overall brand identity and deliver a relevant experience.  After all, nowadays, a shopper might begin her quest for a product on a search engine, conduct research on a brand’s eCommerce site, consult customer service help via Twitter combined with email, complete the purchase on a mobile device, share feedback in a product review using Facebook Connect, sign up for email alerts and then make a second purchase in a bricks-and-mortar outlet after receiving a targeted promotional message. The brand experience is made up of a complex constellation of interactions, as illustrated by industry researcher Forrester’s graphic.

Depiction of ecommerce purchase pattern from Forrester Research

Brand cohesion is so important that we believe it deserves an in-depth look. So in the year to come, we’ll release a series of strategic recommendations for optimizing your brand in key areas, from mobile sites to customer service.

First up: Analytics, an area where the optimization challenge is especially acute. With a persistently precarious economy keeping budgets tight, it’s never been more important to be able to measure and quantify the effectiveness of initiatives. At the same time, tracking the behavior of consumers as they move among channels and platforms poses its own challenges. The eCommerce site analytics package is now just the starting point. Merchants must incorporate data from additional sources to create a complete picture of consumer behavior, and view that data through the lens of multiple filters and segments to gain a nuanced view of how shoppers interact with their brand.

To learn more, join our Webinar tomorrow, Thursday, March 22, at 10 a.m. PDT. MarketLive partner Alight Analytics will share examples of merchants who’ve optimized their analytics for sales success — and we’ll reveal the steps you can take to capture how consumers interact with your brand in 2012.

Filed under Analytics, Connected Commerce Tagged with Business Optimization

Are you ready for the new Facebook format?

March 14, 2012 by Leave a Comment

It’s said that change is the only constant, and the maxim is especially true when it comes to Facebook. Known for its continually-changing interfaces, layouts and policies, Facebook on February 29 announced a new iteration of business Pages that will incorporate the Timeline feature already introduced on individual profile pages back in December.

The new format, which features bold visuals and a host of other changes, will be mandatory for Pages come March 30 – giving merchants just over two weeks to put the finishing touches on their new presentations.

While it’s tempting simply to port over existing Facebook content, with maybe a few extra photos thrown in, merchant brands are better off fully embracing the new format, which requires an adjustment in fundamental strategy. Among the important mindset changes to make:

Find new ways to engage followers. The most disconcerting change for merchants is the elimination of the landing-page tabs, or “fan gates”, that enticed new visitors to “like” a page, often with offers of benefits such as exclusive discounts. Now all visitors will land on the same page, which includes recent posts like the Wall tab of old as well as a bold billboard-style image at the top and information on which friends “like” and have mentioned the page. But with the loss of the tabs, merchants gain new features that can help drive engagement and “likes”:

  • A prominent brand statement. Replacing the “Info” link which languished in the left-hand column, the “About” summary is now anchored front and center beneath the main photo, and should sum up the brand’s identity. Consider including customer service contact information or, at a minimum, a link to your eCommerce site.
  • Showcasing apps. To the right of the “About” statement and the “Photos” link is space for links to three more links of the merchant’s choosing — a layout that favors merchants with custom features and apps that drive “likes”. Macy’s uses one of its slots for a dance contest promotion that requires participants to “like” the page to enter — helping boost followers.

Example of new Facebook page layout from Macys
Example of new Facebook page layout from Macys

  • Featured content. Merchants can now “pin” posts to the top of the page for a week — giving them the opportunity to spotlight promotions to encourage visitors to “like” the page. Luxury brand Louis Vuitton has pinned a post about live coverage of a fashion event to the top of its page, with information about following the event on Twitter and a video — signaling to first-time visitors that the brand has plenty of up-to-the-minute news to share.

Example of new Facebook page from Louis Vuitton

Think visual. The new Facebook page places a heavy emphasis on visuals. It’s not just the billboard-style image at the top of the page and the icons for apps; with the new column layout, there’s more room for photos, videos and graphics in posts. That means merchants should attach an image to almost every update — even if extra time and effort is required to find the right picture. The picture in Walmart’s post about sports gear for Little League not only depicts the subject, but contributes to the brand’s all-American image.

Example of new Facebook page from Walmart

Build a brand scrapbook. The new timeline format places a chronological navigation tool prominently at the top right of the page, giving consumers a chance to browse through years of posts and giving merchants an opportunity to share more of their brand stories. Outline key milestone dates for the brand and mine the archives for ways to convey them with images and text.

The jury is still out on whether these changes will help brands drive engagement and sales on Facebook — but by maximizing the opportunity, merchants can give it their best shot. For more information about the new format:

Have you made the transition to the new Timeline-focused pages? What challenges and opportunities does the new format bring?

Filed under Social Commerce Tagged with Facebook

Taking the Lo road – new SoLoMo findings spotlight “local”

March 7, 2012 by Leave a Comment

SoLoMo — which stands for “Social, Local, Mobile” — is gaining visibility as a buzzword to convey the intersection of social media, mobile and location-based services. In a way, it’s simply a new manifestation of our concept of connected commerce, in which brands present a cohesive shopping experience across customer touchpoints.

But new SoLoMo data puts the emphasis on the “local” part of the equation. According to a study from Localeze and 15miles conducted by measurement firm comScore, 61% of smartphone owners have used their phones to search for local businesses, and 72% of those searchers went on to make a purchase online or offline. Tablet users, representing a smaller audience, are nonetheless more active local searchers and buyers, with 86% of tablet owners purchasing from local businesses following a search.

The study also found that 15% of consumers in 2011 used social networking sites to search for local businesses — up 66% from 2010.  And when using search engines to locate local businesses, the study found that consumers most trusted the “local” results set — the list of entities matching their search term and their location, represented on a map.

Data about local search results credibility from 15miles and Localeze

This new data validates our earlier recommendation that merchants not only optimize the store locator features on their eCommerce and mobile sites, but also take the time to customize and monitor their “place” pages on other sites, such as Google, Facebook and Yelp.

And with the data showing such a strong connection between local searching and local buying, merchants with physical retail outlets — and brand manufacturers whose products are featured there — should consider going farther. After all, while many merchants already have strategies in place for social networking and mobile devices, the “local” aspect of SoLoMo lags behind. Consider:

Analyzing geographic distribution of social followers. Facebook’s Insights tool provides aggregate geographic data on followers, while third-party tools such as HootSuite can generate similar data for Twitter. Post local updates accordingly promoting in-store events and news.

Delivering location-specific deals. Now is the time to segment your audience of email subscribers and mobile promotion recipients by geographic region, if you haven’t already. Deliver relevant offers that highlight in-store events and merchandise attuned to the local climate and local culture. Brand manufacturers can get in on the act, delivering notices of in-store promotions and giveaways, as Clinique does in this message promoting a free gift with purchase at Saks Fifth Avenue, which has a location within 50 miles of the recipient.

Localized offer example from Clinique

Building store-specific mobile functionality. Consider giving consumers tools specific to their location — and giving store employees insights into shoppers. Luxury retailer Neiman Marcus has debuted an iPhone app that lets shoppers “check in” to selected stores in California and Texas, and displays which store associates are present to assist them. Shoppers can also scan in-store QR codes and flag products of interest — notifying store associates.

Localized mobile content example from Neiman Marcus

How are you combining social, local and mobile for your business?

Filed under Connected Commerce, Email Marketing, Mobile Commerce, Social Commerce Tagged with SoLoMo

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