Abandonment Issues

It certainly feels like a huge mistake has been made when you know that a shopping cart was created by your (potential) customer, and then abandoned.  So, where did the site or product go wrong?

Shopping cart abandonment is a large concern for tiny and massive online retailers alike.  Research has shown

• 60-70% of online shopping carts are abandoned, and
• 99% of people will not finish a purchase on the first visit (SeeWhy reports), but
• 60-75% of those people do intend to complete the purchase
• most within the following 24 hours.

So, it seems that shopping cart abandonment is a normal part of the online shopping process.  Why?

Once a shopping cart has been abandoned, you have two main strategies at your disposal.


Re-targeting

The concept is fairly simple, when a visitor leaves your site to continue browsing, your ads will display on the other sites that they ultimately visit.  You would need to go with a service provider, and is priced similarly to other pay-per-click endeavors.  Your ads can be very dynamic, and include logos, top selling products, or the exact products the customer was browsing within your site. 

The payout?
According to comScore research (2010) retargeting brought an increase in visitor traffic of over 1,000% to a site above advertising without retargeting. 

The drawback?
This method is not suitable for sites visited fewer than 1,000 times per month.


Email Remarketing
This strategy delivers specific and relevant emails to engage customers and address customer needs, specifically their reasons for abandonment.  Many retailers employ this strategy, and it works for businesses large and small.

How do you make email remarketing work?
Fist, make it timely, 12-24 hours for initial contact is recommended.  In the email, include:

• appreciation and personalization ~thank the customer (by name) for visiting the site and for looking at your products.  Ask if there was a problem that you can help with.
• images ~not only of the abandoned items, but also recommended and/or additional products. 
• contact information ~logo, phone number, web links to the main site and their cart, FAQ page link.  Use unique contact sources (phone number and email address) to track email related inbound communications.  This will not only help measure conversions, but also identify those most likely to complete the transaction.
• customer loyalty ~information on guarantees and/or warranties, shipping policies, return information, and other perks available.
• call to action ~make it easy for them to complete the transaction

Some retailers offer discounts in these remarketing emails, but there is a drawback to doing so.  It can condition the customer to purposely abandon the cart, in order to receive a discount.  If you decide to offer a discount, do it sparingly, with a specific reason, and most experts agree that waiting is best.  Offering a discount in the second or third email, rather than the initial one, can have the most conversion impact.  The holiday season does give you a good excuse to try a discount for a limited time, without some of the conditioning risks.  Running and A/B test would be a good idea, to ensure that you are not giving revenue away unnecessarily.

Other email remarketing ideas that avoid discounting include:

• free shipping (with order thresholds that slightly exceed your average order total)
• live support, phone or chat (people still crave human interaction)
• free return shipping (combat the purchase-fear inaction)
• loyalty programs

The payout?
Your products are brought back into the minds of the consumer, when they are actually at the point of completing the purchase (which is at a far different time from their initial visit.)  Actual conversion rates vary, but research indicates up to 80% conversion for well timed and executed remarketing emails.

The drawback?
There are costs involved, varying quite a bit in the details.  Research different providers to ensure you get the right service, at the right price.


Mitigation
It would be a far simpler thing to just eliminate shopping cart abandonment in the first place.  The graph above shows that is unlikely, but there are a few things that you can optimize that may mitigate your efforts.

1. Simplify checkout ~Prevent abandonment by streamlining the process for user-friendliness.  Eliminate unnecessary or complex steps (like account creation.)  Ensure 100% error free shopping cart service, as one glitch can drive your customers straight onto the site of your competitors.
2. Embrace the cart game ~Add a "save for later" or "add to wishlist" type function.  This gives the researching customer time to complete the sale at their pace, without skewing your metrics.  Also, give your cart sufficient time before clearing to allow the customer to return and complete the sale without having to go through the shopping process again.
3. Shipping rate competition ~Adding shipping calculations before the cart can also avoid skewing metrics, and avoid spending on retargeting those customers who will probably not complete the sale, due to shipping prices.  That said, this is the time to negotiate for lower shipping costs, and to seriously consider your handling costs as well.  Noone likes hidden expenses, and the holiday season is over-run with shipping and handling discounts.  Don't lose sales by ignoring these most basic of customer concerns.
4. Security and trust ~People are more worried than ever about payment and information security.  Prominently display your security provisions at every point in the shopping cart experience.  Include confidentiality information, guarantees / warranties, return policies, reputation enhancers like reviews, professional affiliations and testimonials also help.

Have a happy, safe and profitable holiday season, one and all, finally free of abandonment issues.
Thank you,
Laura

Black Friday is over.... now what???

It is now noon (at my local time) which means Black Friday shopping is completed.  People have begun to return home, usually weary, but far from done with their holiday shopping.  Was your business' Black Friday less successful than you had hoped?  Do not fear, there are still ways to fix sluggish sales before the end of the holiday shopping season.

As surprising as it may be to most people, Black Friday is not the biggest shopping day of the year, nor is Cyber Monday.  In fact, the peak does not occur for several weeks, occurring on the weekend prior to Christmas.  This means there are still ample opportunities to capture attention, and sales.

The only fix that is really off of the table for this year is search engine optimization.  You should begin optimizing campaigns (according to Search Engine Journal) three to six months ahead of time, to secure the most coveted page rankings.  You should definitely consider a SEO strategy for next year, but there is one particular option that can produce similar results, with a quicker turnaround.

As gift-list-crazed consumers scour the internet bargains, well placed and intruiging pay-per-click ads can compel sales.  Consumers need to know your greatest deals, when and where to obtain your goods.  Pay-per-click ads do require some finesse, patience and experience to prevent disaster.  This is most definitely the time to consider seeking the direct help of an experienced internet marketer, with current experience in long-tail keyword research.  Be diligent about costs, to ensure that they are completely offset by the additional sales.

Email (or texting based) marketing is perhaps the most successful venue available to you for the remainder of the holiday season.  Overuse of email is largely forgiven during the buying frenzy, but do be judicious, as the unsubscribe button gets frequent use around the first of the year. 

Combat subscriber fatigue by segmenting your customer database (by preferences) and send target-specific emails.  This will amp up the relevance level, and give your customers a more satisfying experience, which can translate into higher sales and more loyal customers.  Using mop-up ("last chance to save") and VIP promotions garner good click through rates, and higher conversion rates as well.

We at Second Chance solutions wish your business a very happy holiday shopping season!

Help your Customers to Choose

Although Thanksgiving is not yet upon us, the holidays are officially here.  Stores have decked their halls, and shelves overflow.  There are so many things to choose from, how do we even start?

Marketing asks a consumer to make choices, often a difficult task for people.  We employ a host of techniques: research, feedback, analysis of competition products as well as our own product line.  Does this work make it easier for the consumer to choose?

Sheena Iyengar, a psycho-economist, has fascinating insight into the process of consumer choice.  Wattime well spent in avoiding the mistake of over-complicating the process, and stressing the consumer.

Enjoy!
Laura

Crowdsource Your Way to the Top

Think crowdsourcing is just another marketing fad at your peril. Especially with the incredible rise of social media, crowdsourcing is now made easier than ever.

So what is crowdsourcing?

 Crowdsourcing is a combination of two words: crowd and outsourcing. It is a process of canvassing a large crowd of people for ideas, skills, or participation.(Source:Daily Crowdsource)



Wikipedia is the perfect example of a crowdsourcing success. Instead of having writers and developers to create an online encyclopedia, Wikipedia enlists the help of people like you and me to build a comprehensive encyclopedia on the Internet.

Many businesses fail to recognize the potential of crowdsourcing. Each year, millions of dollars are spent on hiring industry experts, market analysts, and management consultants for new product/service ideas. Perhaps those businesses could reach out to people who actually care about products or services: customers. Getting to know your customers and listening to their ideas and suggestions may be what you need to take your business to the next level of success. Gone are the days of hoarding information and knowledge. Now, a collective insight of a large number of individuals provide diversity with people from different skills and backgrounds offering varied perspectives.

Starbucks does crowdsourcing so well with My Starbucks Idea. Starbucks turn to their own customers and encourage them to share ideas and join the discussion about other people's ideas. Starbucks believes that their customers know best about what they want from the company and works diligently to turn customers' ideas into action.

Dell is another company that utilizes crowdsourcing for new ideas with IdeaStorm campaign. Dell actively engage with customers and fish for inspiring fresh ideas in order for the company to offer consistently solid products and services. So far, Dell has seen through over 500 of these ideas successfully implemented.

Not every idea is a good idea. People's creative inputs need to be reviewed extensively before they can be implemented.

Here are a few tips for you to perfectly execute your crowdsourcing campaign...

• Identify your goals: Know exactly what you want out of crowdsourcing. Are you looking for new product ideas or are you gathering feedback on your marketing campaign? 
• Be specific: Be very clear in your brief and provide specific guidelines. Asking the right question is the key to the success of crowdsourcing. For example, instead of asking "What is your new idea to improve our moisturizer?", you could ask " What is considered most important to you: a moisturizer that fights acne or one that corrects dark spots?".
• Do not get overwhelmed: Be prepared to be bombarded by ideas and develop strategies to be able to cut through clutter to pick the best entry out of a sea of best entries.
• Leverage your media platforms: Utilize various social media platforms: Twitter, Facebook, and YouTube to reach as many people as possible to tap into their brains.

According to the founder of the term "Crowdsourcing", Jeff Howe,

" Crowdsourcing is the process by which the power of the many can be leveraged to accomplish feats that were once the province of a specialized few."

And you know as they say,

"It is a fact that in the right formation, the lifting power of many wings can achieve twice the distance of any bird flying alone".

 Use the wisdom of the crowd to see your business flourish.

May Mandy Han 

Things That Make You Go Viral

You may have been living under a rock if you have not seen an  ALS ice bucket challenge on social media lately.

It is just the perfect example of how a simple idea or initiative can be turned into a sensational viral campaign.

So far, the Ice Bucket Challenge has raised over $100 million for Lou Gehrig’s disease. Not bad for an idea that involves people dumping ice water over their heads.

The Ice Bucket Challenge flawlessly demonstrates how it is done for a forward thinking idea to go viral.

Viral marketing can generate a huge amount of buzz and help your idea or brand get noticed on a large scale. It is not enough having a great idea; it is about making this great idea known. That is where viral marketing comes in. It is designed to form strong emotional connections with people: a connection so strong that people cannot resist but share the idea with other people.

Old Spice campaigns featuring former NFL player Isaiah Mustafa are true testaments to the power of viral campaigns. The light and snappy nature of these campaigns captured the attention of the public. As of today, Old Spice YouTube channel has generated incredible 243 million views for its 256 videos.

Evian's "Baby & Me" campaign in April 2013 successfully awakened everyone's inner child by featuring dancing babies with uncanny resemblance to adult actors. The campaign perfectly embodied the brand's message of "Live Young". Its humorous and fun aspect triggered positive emotions in millions of people that drove them to share and helped make the campaign go viral. Currently, Evian's "Baby & Me" YouTube video has over 95 million views and counting.

Here are a few tips for you to start off a viral campaign the right way:

1. Develop emotional connections: Keep your content fun, easy, and lighthearted so that people can connect positively to your brand on a more personal level. It should contain triggers that compel people to share it with their friends and families.
2. Add an element of surprise: Come up with an original idea for your viral campaign. Your content should be something totally unexpected that surprises your target audience and demands their attention.
3. Be subtle with advertisement: Many people tend to switch off or shy away from obvious advertisements, so make your idea or topic the focal point of your campaign and keep the advertisement in the subtle background.
4. Allow unrestricted access: Make your campaign accessible and share-able on multiple social media platforms. Your campaign should be easily searchable on the Internet so that people can find it, have a positive emotional response to it, and share it with other people.
5. Give them more: Be sure to follow up your viral campaign with updates and sequels. Keep the momentum going with follow-ups to stay fresh in people's minds.

If you are using social media for your viral campaign, make sure you know the best time to post your content to drive the most traffic. See below to find out when to post your content on different social media platforms to increase your chance of going viral. 

                      

             

May Mandy Han

The following video is one of my favorite of Seth Godin's presentations.  It shows so well the apathy behind leaving things broken, and the power that can come from correcting.  I think it highlights best what our group is trying to accomplish with Second Chances, the ability to redo.

Enjoy,
Laura

Internet Marketing Etiquette - Twitter

Check out this short video giving you ideas of Internet Marketing mistakes on your Twitter account and how you can correct them.

After viewing the video, give us your feedback or experiences.  We love to hear from our readers.

Second Chance Solutions presents Twitter and Internet Marketing Etiquette

by Karen Boggs

Are You Ready to Go Guerrilla?

Think you have to spend top dollars to grow your business? Think again.

With Guerrilla Marketing, you can go for low-cost, unconventional marketing campaigns that can give you maximum results.

According Jay Conrad Levinson, the man who coined the term Guerrilla Marketing in his 1984 book "Guerrilla Marketing: Easy and Inexpensive Strategies for Making Big Profits from Your Small Business",

Guerrilla Marketing is a low-budget and unconventional marketing strategy that adds an element of surprise to the consumer to create a memorable brand experience.

The objective of a guerrilla marketing campaign is to create an unique and engaging concept to generate buzz. According to Drew Neisser, the CEO & founder of Renegade Marketing Agency, 

Guerrilla Marketing is a state of mind. It simply isn't guerrilla if it isn't newsworthy.

Thus, your goal is to develop a shockingly unique and clever marketing concept that is buzz worthy.

Guerrilla Marketing's bold and think-outside-the-box idea will get your products/services noticed and set you apart from the competition.

Here is the perfect example of a successful guerrilla marketing campaign:

Pandas in Paris

Who can forget 1,600 papier mache pandas put on display in the center of Paris by the World Wildlife Fund (WWF) back in 2008? Each panda installation represented each of the remaining 1,600 pandas left in the wild.

The uniqueness and thought-provoking nature of this campaign grabbed the attention of everyone including leading media outlets. The WWF successfully managed to increase public awareness about the endangered species.

Crossing Borders: Cultural Differences in Marketing

So you have got your products or services settled in the domestic market and plan to venture into international market place.

Would you use the same marketing mix (product, price, place, & promotion) and strategies that you have developed for the domestic market and apply them to the global market?

The answer should be a resounding no.

When attempting to create a presence in international markets, it is vital to be aware of others' cultural sensitivities and develop marketing campaigns that are in line with the cultural norms of the target international markets. Local market knowledge will undoubtedly come in handy when competing with local companies armed with a vast array of information on the markets and customers.

Cultures are not static and they typically evolve over time. Global marketers must understand the target country's existing and emerging cultures, customs, and needs in order to devise marketing strategies that are tailor-made for that specific market. Failure to do exactly that results in a series of embarrassing marketing blunders. 





For example, did you know that the name of the baby food company Gerber means vomiting in French?

Rebranding using Search Engine Optimization ~part 2 ~the launch

Once your "newbrand" website is built, it is time to launch the site.  Doing so correctly is important.  Find out how to avoid mistakes (or fix them) during the final stages of rebranding online.

Laura McCormack

Top 10 Marketing Failures

We have all seen marketing blunders over the years, some with more devastating consequences than others. Even big-name companies with talented marketing teams behind them suffer from occasional marketing slips. Read on to find out the top 10 major marketing failures in history, what we have learnt from them and how Second Chance Solutions can help you get a second chance to make your mark in the market.