How Comparison Shopping Engines Are Innovating – Retail Spokes Blog
I always get into an argument with a friend who works at a first generation Comparison Shopping Engine (CSE). My opinion that CSEs need to do much more than just provide price comparisons does not fare well with him. His mantra – “Get shoppers in and out as quickly as possible and run with your cut”. Until recently, no one seemed interested in engaging shoppers, or providing better experiences. But, what my friend doesn’t realize is that the CSE world is changing. What was once considered taboo is soon going to become a hygiene factor. And, new breed of Comparison Shopping Engines are leading the charge to see about this change.
Decline of Comparison Shopping Engines – Retail Spokes Blog
Comparison shopping or ability to compare prices was (and to a large extent continues to be) one of the greatest innovations since the advent of internet shopping. Why? Because it put shoppers in control of the single most important shopping insight – ability to find the best price. So, understandably, comparison shopping engines (CSEs) were once a rage. But, they are constantly losing their clout with advent of new technologies and pressure from players like Google and Amazon. Here are some of the factors that are taking away CSE traffic:
Search engines are investing on their own shopping platforms
Google and Bing continue to evolve their own product search platforms. In addition to standard product information, they are enriching product pages with content like product reviews, videos and related products. There is a clear conflict of interest when it comes to product related search results. And, guess who wins? It is definitely not CSEs.
via Decline of Comparison Shopping Engines | Retail Spokes – Online Retail Focused Content Solutions.
What Can Retailers Do To Build a Brand (And a Loyal Customer Base)? – Retail Spokes Blog
Social media
It is not rocket-science to understand that the web is becoming increasingly social. Most retailers have a social media marketing strategy, but campaigns are mostly geared towards putting deals on Facebook and Twitter. What would really make a difference is content that can enhance experience on these social touch points. The goal is to enable your most influential existing customers to spread word of mouth that would bring in more traffic. Soon, online shopping will be the same friends and family experience as it is in a traditional brick and mortar store.
Multi-channel
It is now common understanding that retailers have to provide consistent products, pricing, information, and experiences across all their channels. Multi-channel retailers have an advantage over pure-play retailers in that they have more opportunities to convert shoppers. This includes features such as ‘ship to store’, ‘ship to home’ (if not available in-store) or in-store access to content and community over mobile devices.
Building a Loyal Brand Following – a New Focus For Online Retailers – Retail Spokes Blog
If there is one thing to be learned from Amazon’s dominance in eCommerce, it is the importance of building a brand. It is phenomenal that 33% of all shoppers visit Amazon for research, according to a recent study by e-tailing group and PowerReviews. Although, it is apparent that Amazon does not provide best product choices or shopping experience for many product segments. Nonetheless, their ability to attract direct traffic is unmatched. This is where most eCommerce sites need to become better in that they have to build loyal customer bases.
How to Create Effective Email Marketing Campaigns? – Retail Spokes Blog
Through all the social media hype, email has held its ground as one of the most effective online retail marketing channels. According to a survey by the E-Tailing group, 79% of retailers want to increase their spending on email campaigns. Here are some of the things that retailers can do to ensure their emails convey the message and achieve desired results.
Content and Targeting
Content is where most email campaigns fall short. As a customer, very few would like to repeatedly receive just coupons and discount-oriented emails. Most users have anyways gotten used to searching the web for coupons before making a purchase. So, these messages do not offer too much value for the time and energy users would spend reading them. On the other hand, users would show more interest if contextual content can be added to these emails along with a relevant subject line.
Price Consistency Across Channels – Absolutely Important! – Retail Spokes Blog
I recently got my hands around a report from Forrester Analyst Sucharita Mulpuru titled “Higher Prices In Your Stores: OK Or Not? How Consumers React When Store And Web Prices For An Item Differ”.
In today’s socio-economic environment, it is common sense that shoppers are increasingly frugal and aware of their options when it comes to opening up their wallets. Retailers understand this trend and have come to realize that this is not a recession specific phenomenon. We may be out of recession, but shopper attitudes have not changed. Almost everyone shops around and compares prices across different channels. This has led to a rush towards consistent multi-channel experience.
But, this Forrester report paints a completely different picture. It suggests that having different prices across channels is not an issue, and retailers should rather focus on things that are more important!?!?
Facebook – Pro-User Claims and Reality – Retail Spokes Blog
When Facebook executives talk about user privacy issues and control over content, it is apparent that user’s interests are their top priority. But, it turns out their actions are nowhere near public statements that they make. After massively faltering with Beacon, it seems Facebook has learned the art of deception. They have learned that an average user wouldn’t care about their practices as long as they can avoid negative buzz. They effectively do this by consistently claiming they are pro-user. An average Facebook user is sold on those ‘void’ claims.
I would highlight 3 changes that are already in effect, or are in the pipeline that show Facebook’s actual intentions:
via Facebook – Pro-User Claims and Reality | Retail Spokes – Online Retail Focused Content Solutions.
Top 5 Facebook Pages Series (Brands) – Retail Spokes Blog
Along with good design and layout, it is important for brand pages to have great content that drives conversations and social interactions. Unlike retailers, most brands do not offer any coupons or promotions making it even more important to have quality content. I have come across hundreds of Facebook pages, but these 5 brands stand out for excellent design, engaging content, and social features that draw millions of Likes.
via Top 5 Facebook Pages Series – Brands | Retail Spokes – Online Retail Focused Content Solutions.
Top 5 Facebook Pages Series (Retailers) – Retail Spokes Blog
There is no denying the fact that social media has quickly become a top priority for most marketers. According to eMarketer, four in five US businesses with at least 100 employees will take part in social media marketing in 2011. According to the same report, social media ranked third among areas marketers planned to focus their online marketing budget in 2011, after search and their own website.
As the stakes get higher, it has become increasingly important to effectively measure ROI. But, social media ROI measurement is still in its infancy. Very few marketers are successful in determining the true ROI from this channel. But, regardless of ROI conundrum, no marketer can afford to sit on the fence and wait until it’s too late. You have to get your feet wet and understand how this channel works. This takes time and there is no silver bullet that will make your social media campaigns successful overnight. Your social marketing needs and objectives are unique and they require a custom approach that can only be developed over a period of time.
via Top 5 Facebook Pages Series – Retailers | Retail Spokes – Online Retail Focused Content Solutions.
Facebook eCommerce Solutions – Retail Spokes Blog
In the retail world, there is a lot of hype about Facebook integration. Social media marketing, in general, has become an essential component of the marketing mix for most eCommerce marketers. But, are there any good Facebook eCommerce solutions available to serve that need? I was asked this question by a friend who runs a small eCommerce operation selling musical instruments. I thought I’ll provide a list of solutions I’ve recently come across in this blog. These are listed in no specific order.
via Facebook eCommerce Solutions | Retail Spokes – Online Retail Focused Content Solutions.