Make 2018 Your Brand's Best Year Yet

Whether you met your marketing goals for 2017 or not, there are always ways to improve for the future: increased opens, click-throughs, conversions and, ultimately, revenue. But how can your brand go beyond meeting your sales goals in 2018 – and start exceeding them?

To find out, we surveyed executives in the ecommerce industry and asked what they’re looking forward to in 2018, including the strategies, technologies and experiences that they think will be critical to commerce marketing success in the years to come. Have you ever wondered what your competitors and leaders in the ecommerce field are doing behind the scenes and how you can learn – and apply – their strategies? Read on.

Start With a Strong Foundation

Leaders in the ecommerce industry have always used data to make important decisions. They respond to, and even intuit, consumer needs. So when it comes to strategies for 2018, top marketers are not only looking to the future – they’re learning from the past.

While our survey respondents picked social media as the top marketing channel to focus on in 2018, email was a close second – and the foundation which social media marketing is built upon. In 2015, 205 billion emails were sent and received every day. That number is expected to reach over 246 billion per day by the end of 2019 – averaging an annual growth rate of three percent. And over one-third of the global population is expected to be using email by the end of 2019, up from 2.6 billion in 2015.[1]

Why is email marketing still vital? Most of the time, you can’t sign up for a social account without providing an email address to register. Plus, most, if not all, online shopping and banking transactions require an email address – not just a social account.

Organic social media posting is usually directed at your whole audience, lacking the personalization of email. Social media marketing may be appealing for its ease of use when addressing large groups, but savvy marketers find that in the ecommerce game, having a targeted email strategy that works is non-negotiable. A compelling statistic to keep in mind? Email marketing is still nearly 40 times more effective at converting customers than Facebook and Twitter combined.[2]

Focus onImprovingU/X

As ecommerce sales continue to increase, it’s no surprise that the executives we surveyed are taking a closer look at the potential of a great website experience to improve sales or profits. A solid website can provide an enjoyable shopping experience for the consumer that ultimately helps increase conversions, sales and profits. A consumer is more likely to make a purchase when the website experience is positive and reduces friction on the path to conversion, and they’re more likely to return and even tell their friends about it in the future. Investing in a better website experience is a win-win.

Explore & TestForward-Thinking Strategies

Ecommerce executives don’t focus on just one thing when they consider how to best increase sales, of course. Many expressed interest in dynamic pricing as a strategy they would focus on if time and money weren’t issues. While this seems like a solid, forward-thinking move, retailers should take note of the cost and complexity of dynamic pricing before making it part of their game plan.

Another innovation that appeals to ecommerce executives is the recent growth of new payment options, such as one-click buying. One-click payment technology ultimately reduces the steps in the path to purchase, simplifying the process for consumers and making it easier for them to convert. Amazon has seen remarkable success with the technology, and now other leaders in the ecommerce industry are eager for a piece of the one-click pie. Good news for US retailers looking to implement this option: Amazon’s patent on the technology is set to expire this year, leaving it open for other retailers to adopt.[3]

Marketing channel attribution and social personalization were also chosen by ecommerce executives as strategies to focus on moving forward. Both are ways to reach the consumer that are more cost-effective and have a better return on investment than, for example, dynamic pricing – for now.

Looking Forward to the Future ofEcommerce

Ecommerce marketing is full of exciting innovations for marketers to focus on moving forward – but it’s important not to forget the tried-and-true methods that continue to prove themselves effective. Brands and marketers should listen to their consumers and respond to their needs instead of attempting to apply a one-size-fits all strategy. Today’s consumers expect marketers to know, and even anticipate, their needs. Marketers have an incredible opportunity to learn exactly what their consumers are looking for – and deliver.

Methodology: Working with research firm Demand ROI, Bronto surveyed ecommerce managers, directors and vice presidents at companies in the US, the UK, Canada, Australia and the Netherlands with a minimum headcount of 200 employees. The survey was conducted via email in the spring of 2017, and we received 409 qualified responses. The largest number came from the US, with a total of 144. Of these, 70% reported having both brick-and-mortar and online operations.

 

[1] The Radicati Group, Inc. (2015). Email Statistics Report, 2015-2019. Retrieved on September 5, 2017 from http://www.radicati.com/wp/wp-content/uploads/2015/02/Email-Statistics-Report-2015-2019-Executive-Summary.pdf.

[2] McKinsey & Company. Why Marketers Should Keep Sending You Emails. (2014). Retrieved on September 5, 2017 from http://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/why-marketers-should-keep-sending-you-emails.

[3] Business Insider. (2017). Amazon’s Patent on One-Click Payments to Expire. Retrieved on September 5, 2017 from http://www.businessinsider.com/amazons-patent-on-one-click-payments-to-expire-2017-1.

Make 2018 Your Brand's Best Year Yet

Make 2018 Your Brand's Best Year Yet

Whether you met your marketing goals for 2017 or not, there are always ways to improve for the future: increased opens, click-throughs, conversions and, ultimately, revenue. But how can your brand go beyond meeting your sales goals in 2018 – and start exceeding them?

To find out, we surveyed executives in the ecommerce industry and asked what they’re looking forward to in 2018, including the strategies, technologies and experiences that they think will be critical to commerce marketing success in the years to come. Have you ever wondered what your competitors and leaders in the ecommerce field are doing behind the scenes and how you can learn – and apply – their strategies? Read on.

Start With a Strong Foundation

Leaders in the ecommerce industry have always used data to make important decisions. They respond to, and even intuit, consumer needs. So when it comes to strategies for 2018, top marketers are not only looking to the future – they’re learning from the past.

While our survey respondents picked social media as the top marketing channel to focus on in 2018, email was a close second – and the foundation which social media marketing is built upon. In 2015, 205 billion emails were sent and received every day. That number is expected to reach over 246 billion per day by the end of 2019 – averaging an annual growth rate of three percent. And over one-third of the global population is expected to be using email by the end of 2019, up from 2.6 billion in 2015.[1]

Why is email marketing still vital? Most of the time, you can’t sign up for a social account without providing an email address to register. Plus, most, if not all, online shopping and banking transactions require an email address – not just a social account.

Organic social media posting is usually directed at your whole audience, lacking the personalization of email. Social media marketing may be appealing for its ease of use when addressing large groups, but savvy marketers find that in the ecommerce game, having a targeted email strategy that works is non-negotiable. A compelling statistic to keep in mind? Email marketing is still nearly 40 times more effective at converting customers than Facebook and Twitter combined.[2]

Focus onImprovingU/X

As ecommerce sales continue to increase, it’s no surprise that the executives we surveyed are taking a closer look at the potential of a great website experience to improve sales or profits. A solid website can provide an enjoyable shopping experience for the consumer that ultimately helps increase conversions, sales and profits. A consumer is more likely to make a purchase when the website experience is positive and reduces friction on the path to conversion, and they’re more likely to return and even tell their friends about it in the future. Investing in a better website experience is a win-win.

Explore & TestForward-Thinking Strategies

Ecommerce executives don’t focus on just one thing when they consider how to best increase sales, of course. Many expressed interest in dynamic pricing as a strategy they would focus on if time and money weren’t issues. While this seems like a solid, forward-thinking move, retailers should take note of the cost and complexity of dynamic pricing before making it part of their game plan.

Another innovation that appeals to ecommerce executives is the recent growth of new payment options, such as one-click buying. One-click payment technology ultimately reduces the steps in the path to purchase, simplifying the process for consumers and making it easier for them to convert. Amazon has seen remarkable success with the technology, and now other leaders in the ecommerce industry are eager for a piece of the one-click pie. Good news for US retailers looking to implement this option: Amazon’s patent on the technology is set to expire this year, leaving it open for other retailers to adopt.[3]

Marketing channel attribution and social personalization were also chosen by ecommerce executives as strategies to focus on moving forward. Both are ways to reach the consumer that are more cost-effective and have a better return on investment than, for example, dynamic pricing – for now.

Looking Forward to the Future ofEcommerce

Ecommerce marketing is full of exciting innovations for marketers to focus on moving forward – but it’s important not to forget the tried-and-true methods that continue to prove themselves effective. Brands and marketers should listen to their consumers and respond to their needs instead of attempting to apply a one-size-fits all strategy. Today’s consumers expect marketers to know, and even anticipate, their needs. Marketers have an incredible opportunity to learn exactly what their consumers are looking for – and deliver.

Methodology: Working with research firm Demand ROI, Bronto surveyed ecommerce managers, directors and vice presidents at companies in the US, the UK, Canada, Australia and the Netherlands with a minimum headcount of 200 employees. The survey was conducted via email in the spring of 2017, and we received 409 qualified responses. The largest number came from the US, with a total of 144. Of these, 70% reported having both brick-and-mortar and online operations.

 

[1] The Radicati Group, Inc. (2015). Email Statistics Report, 2015-2019. Retrieved on September 5, 2017 from http://www.radicati.com/wp/wp-content/uploads/2015/02/Email-Statistics-Report-2015-2019-Executive-Summary.pdf.

[2] McKinsey & Company. Why Marketers Should Keep Sending You Emails. (2014). Retrieved on September 5, 2017 from http://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/why-marketers-should-keep-sending-you-emails.

[3] Business Insider. (2017). Amazon’s Patent on One-Click Payments to Expire. Retrieved on September 5, 2017 from http://www.businessinsider.com/amazons-patent-on-one-click-payments-to-expire-2017-1.