clever retail strategies to increase online traffic & revenue
TRANSCRIPT
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Clever Retail Strategies
to Increase Online Traffic & Revenue
HOSTED BY: &
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Presenters• Julia Meter
– Agency Account Strategist at Google
• Will Larcom– Account Manager at Hanapin Marketing– PPC Hero Blogger
– @Will_Larcom
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Who is Hanapin?– Run the world’s most popular PPC
blog and conference.– We manage and optimize global paid
search, paid social, and display programs.
– Within 12 months, brands can expect a 250% increase in their growth trajectory.
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Our Clients
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Join the conversation
• Include the hashtag #thinkppc in your Twitter tweets.
Or use the webinar question box to send us questions.
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Live Poll Question #1
How long have you been in PPC?#thinkppc
A. Less than 1 yearB. 1-3 yearsC. 3-5 yearsD. 5+ years
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Agenda● Industry and Behavior Trends
● Multi-Channel Conversion Funnel
● Product Updates and Targeting Tools
● Seasonality: Budgeting, Bidding, & Geo-Targeting
● Ad Copy: Promotional Text & Customizers
● Product Coverage Audit
● Recap/Q&A
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Retail Industry & Shopping Behavior
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The Old Reality of RetailEverything was anchored around the physical store.
Foot traffic directed retail decision-making.
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The Old Reality of RetailEverything was anchored around the physical
store. Foot traffic directed retail decision-making.
foot traffic57% value of each store
visit
3X
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ecommerce sales worldwide grew at 21% YoY in 2015, projected to nearly double by 2018
Source: Forrester
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Rise of the constantly connected consumer
6+ Hrs spent online per day
60%of that time on
mobile
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From foot traffic to phone traffic
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Today’s consumer journey is a multi-channel experience...
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93% of people are using their phones to research before making
a purchase
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Desktop
Mobile
Traffic
DesktopTablet
Conversion rates
Tablet Mobile
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Traffic
Engagement
Engagement Before Conversion
Verdict: Mobile increasingly becomes the platform for research and discovery, while Desktop is used to complete transactions.
First-time Converters
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Local IntentGive shoppers options to request
local results in new ways
Rich BrowsingLocal-friendly browsing
experience of the map helps shoppers navigate for stores and
products nearby
Local on Mobile
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Local StorefrontHighlight merchant’s in-store pickup services on the Local Storefront that links to the
service on their site
AnnotationIn-store annotation will be
added in the form of a shopping bag icon and variations of annotation
language such “Buy online Pick up in store” or “Click and
Collect”
Local Inventory Ads | Pick Up in Store
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Remarketing Lists on Search and Shopping
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Customer Lists on Search and Shopping
Purchase history
Offline campaigns
Customer profiles
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Digital Retail Strategies
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Seasonality
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Check The Forecast
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Predict Seasonality● Goal: Proactive instead of reactive
approach
● Who: For retailers with varied product line, or product responsive to seasonality
○ Ex: sports apparel, boots, sunglasses, outerwear etc.
● How: Compare monthly vs. yearly average
● Where: Everywhere -- budgeting, bidding, and targeting.
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Budgeting
● Method: Compare monthly fluctuations in KPI to 12 year average
● Basic metrics: clicks, impressions, impression share, and conversion rate
● Calculated metrics: % of clicks, % of impressions, available impressions
● Define Metrics:○ % of clicks = campaign clicks/account clicks○ available impressions = impressions / impression share
● Goal: Use change in impression availability and conversion rate changes to predict seasonality
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Budgeting
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Budgeting - Final Result
● Imp available difference: (2016 Feb % - 2016 %) / 2016 %● Opportunity: Significant boost in available impressions and
conversion efficiency for outdoor winter and boots
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Bidding● Next step: utilize this analysis at keyword level
● Simply raising a budget when IS is low will not do the trick
● Get agressive where seasonality shows○ boost avg. position and impression share
● Obstacles:○ Automated bidding○ Account wide manual bidding
■ Focus on major segment fluctuations individually
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Step-By-Step – Creating an SQR Pivot Table
Seasonality by Geo• Problem: Efficiency / volume fluctuate across targeted locations• Complication: Certain locations perform better, campaigns not
segmented by geo• Example: retailer, travel, tourism, etc
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Step-By-Step – Creating an SQR Pivot Table
Seasonality by Geo• Solution: Weighted Location Report• Equally weights last X months of data with YoY data of upcoming month
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Promotional Ad Copy
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Promotional Preparation
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Promotional Preparation
● Issue: Frequent promos make ad copy testing difficult
● Solution: template based ad copy testing○ Stop testing minor changes, start testing major
theme alterations
● Benefits○ Incremental improvement each promo○ Actionable data to pass back to client○ Organized, efficient implementation
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The Setup
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The Setup
● Create promo template
● Have actionable test○ Ex: % off vs $ off, including promo code
● Know Your KPI: CTR, ROAS, CPA, etc
● Label properly
● Set automated rules for proper trigger/pause
● Resource: http://www.ppchero.com/set-up-account-wide-ppc-promos-in-less-than-5-minutes/
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Analyzing The Results
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Ad Customizers● Increase engagement through uniquely tailored message
● Intuitively built directly in ad, or reference feed in shared library
● Implementation guide: http://www.ppchero.com/the-coolest-adwords-feature-you-arent-using/
● Examples: ○ Incorporating shipping capability of audience’s city○ “Placeholder” text for quick update of promotional details○ Countdown clock for end of sale○ Geo Based: “Shop In Store”○ New: Using “If” statements to speak to device or audience
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Promotional Examples
VS.
VS.
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[Bonus] Product Audit
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Audit Coverage
● Reference product level data to audit coverage of top converting products
● Where: Google Analytics → Conversions → Product Performance
● What To Look For: top converting, most efficient, MoM changes
● Segments: Compare paid to organic, direct, email, etc.
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Recap
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Strategy Recap
● Seasonality○ Budget: alter based on fluctuations in supply and efficiency○ Bidding: adjust in appropriate segments○ Geo-Targeting: weighted average
● Ad Copy○ Promotional ad copy testing○ Incorporate ad customziers
● Product Coverage Audit
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Offers!
A. Get an account analysis by the experts at Hanapin (For accounts spending 15k+/month)
B. No Thanks!
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Live Q&A Time!
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Thank you for attending our webinar! #thinkppc
• Contact Us Directly: [email protected]
Hanapin Marketing | The PPC Agency of Experts Behind PPC Hero and Hero conf