Introducing P.R.I.C.E. - a tool to review differentiation and integration of E-commerce omnichannel marketing
There is an enormous, and potentially bewildering, range of possibilities and options available to retailers to differentiate themselves from their competitors in a multichannel world.
Why a multichannel marketing framework is needed
Selection and prioritization of investment in online retail can be a huge challenge, and so to help, when reviewing multichannel strategy with clients I have developed a framework to help based around five key factors:
Those five key factors, in varying priorities, define what is important for your customers in a multichannel retail experience. Together they describe your differentiation from your competitors in a multichannel world.
In brief, the elements of P.R.I.C.E are
Price - As everyone knows, prices online are transparent prices, and having a competitive price position is an essential part of your positioning, that said, it's not the only…
Social commerce trends to create seamless e-commerce experiences directly in social channels your customers love
One of the things that has always fascinated me about social media is the way it continues to adapt and evolve to changing consumer trends. Over the last 20 years we’ve seen a progressive shift from simple, text-based updates, to increasingly visual and ephemeral content, championed by app-based platforms like Instagram and Snapchat, and at the same time, social commerce has flourished.
Whilst newer entrants such as TikTok have taken this trend even further, there have also been innovations in one-to-one communication seen in the development of messenger apps such as WeChat, WhatsApp and Messenger (the latter both owned by Facebook):
It’s been interesting to see how some of these trends have converged to drive innovation in social media…
Discover our framework to plan, manage, and optimize your brand positioning strategy in the era of omnichannel consumer branded goods
In its best form, a brand positioning strategy for a company unifies all customer-facing comms and marketing activities. It highlights who the target audience is, and why they need your product (and how you're going to make sure they know that).
More importantly, in today's age of digitalization, with Debenhams and Arcadia Group being bought by online giants Asos and Boohoo, and now GAP planning to close stores in UK, France, and Italy as part of their European review, positioning your brand online is more important than ever.
That's where RACE comes in - a dedicated marketing structure your brand can use to integrate your customers' experiences of your brand,…
A case study focusing on eBay marketing strategy: The facts, figures, and strategy behind their highest quarterly revenue yet
This case study summarizes the strategic approach used by eBay to take advantage of increased consumer adoption of the Internet. In this article I'll be summarizing eBay's objectives, strategy and proposition and key risks. Ebay marketing strategy updates will be added at the top of the case study.
2021 eBay marketing strategy update: E-commerce giant records highest quarterly revenue Q1 2021
Ebay has had a fascinating year. The quarterly revenue chart below depicts both highs and lows for this company in the last 12 months. Plunging to a low revenue of US $2,129 million in quarter 1 of 2020, the company then rocketed to it's highest recorded quarterly revenue of US $3,023 in quarter 1 of 2021.…
When was the last time you adapted your e-commerce digital marketing strategy? Is it a static, unchanged marketing plan, or an agile, practical marketing funnel?
Smart Insights offers invaluable e-commerce digital marketing strategy solutions for online businesses of all shapes and sizes. It's no exaggeration that we have transformed members' businesses with our strategy and planning solutions. One of our most popular resources is the RACE Framework, a marketing funnel centered around customer lifecycles.
Applicable to just about every marketing industry (across B2B, B2C, and D2C), the RACE Framework focuses on your customers' experiences of your marketing activities. Naturally, this focus is vital for those selling online, which is why we recommend the RACE Framework in particular for e-commerce digital marketing strategy planning.
The RACE Framework is popular with so many members because it offers a streamlined, data-driven approach to marketing strategy planning which centers all around the customer journey. RACE funnel users…
What do the latest retail marketing trends mean for your e-commerce marketing strategy?
The biggest takeaway from our 2021 retail e-commerce marketing trends is that, with increasingly complex customer journeys in 2021, retailers need an e-commerce marketing strategy that integrates customer experiences.
Customer lifecycle marketing is more necessary than ever, as consumers increasingly use multiple channels along their path to purchase. Therefore, to ensure you build a strong e-commerce marketing strategy to both reach and convert your customers, you need to consider the whole customer journey.
We have marketing training and tools to refresh your omnichannel approach to e-commerce marketing strategy. Our popular RACE Framework structures your strategy across the customer journey process of plan, reach, act, convert, and engage. You can find out more about these resources and how to apply them to your e-commerce marketing strategy throughout this article.
We are now in the e-commerce marketing optimization era. To maintain growth, businesses need to innovate their approach to e-commerce marketing. Stay up to date with the latest sector trends
It's not a surprise that this year's trending e-commerce strategies and tactics all center around making online shopping experiences and comms more persuasive. In 2021, e-commerce retailers need the tools and techniques to stay competitive and defend their market share. That's why we've put together our free retail e-commerce marketing 2021 trends guide for e-commerce marketers to optimize their marketing across the customer lifecycle. As always, we've integrated these trends across our popular RACE Framework of Reach, Act, Convert and Engage.
While online sales continue to grow in importance, the days of easy double-digit, year-on-year growth (as online shopping grew in popularity) are ending. In the era of e-commerce marketing optimization, retailers are rapidly scanning the marketplace to outpace their competitors.…
E-commerce inbound marketing means attracting customers to your online store with engaging and relevant content to increase sales and conversions
E-commerce has rocketed over the last 12 months - and with it, inbound marketing tactics by savvy e-commerce marketers have picked up the pace, competing to attract customers to their site and win that sale.
While a healthy e-commerce marketing strategy will always include a mixture of outbound and inbound marketing, with demand and competition peaking in 2021, there's little doubt that now is the time to focus on your e-commerce inbound marketing strategy to increase your return on investment.
The numbers speak for themselves with e-commerce purchases accounting for 16% of all sales in the US in Q2. In fact, 9 countries were predicted over 20% growth in e-commerce post-COVID, the Asian Pacific market alone forecast $2,448.33 billion of E-commerce sales.
With that in…
What is e-commerce marketing and how is it different from other digital marketing? Discover opportunities for strategic optimization in an industry which has seen year on year growth like no other
2020 was the year of e-commerce. You don't need me to tell you that. Over the last decade, our marketing technological ability and sophistication have gradually improved, enabling increased e-commerce engagement and traction, as more businesses have begun selling online.
However, it's the rapid change in social behavior during the global pandemic that is responsible for the peaks we've seen this year - such as e-commerce accounting for 16% of total sales in the US in Q2 2020.
Identify, anticipate and satisfy customer requirements profitably, online
So, your customer wants to buy from you online? Great. But how is…
Any retail brand with a digital presence should use this three-step ASIN targeting process to develop an Amazon advertising strategy
In the same way that the library uses the Dewey Decimal System to keep everything orderly and organized, Amazon has its own system: the Amazon Standard Identification Number (ASIN).
And with Black Friday and Cyber Monday just around the corner, which half of Amazon sellers classify as 'crucial to their bottom lines', now's the time to make sure you're exploiting every targeting feature out there.
Product detail pages (or ASIN pages) are prime real estate for advertisers. Placing an ad directly on the product page of your competitor is a great way to steal market share and increase your sales.
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