ecommerce growth toolkit. victoria markley and amit r. shah
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ECommerce Growth Toolkit. Victoria Markley and Amit R. ShahTRANSCRIPT
Ecommerce Growth Toolkit
Best practices, and real world examples of scalable growth on the Magento platform
Amit ShahChief Executive OfficerJirafe
Victoria Markley Strategy and Operations DirectorGorilla Group
Agenda
Speaker Introductions: Victoria Markley, Amit Shah
Gorilla Group+ Common Challenges of Growing Businesses+ Gorilla: Case Studies - Peter Millar, Murray’s Cheese, 5.11
Tactical+ Best Practices
Jirafe+ Ecommerce Land Scape+ Jirafe: Case Studies - Customer, Merchandising, and Sales
Funnel+ What Can Your Data Tell You?
Q&A
Victoria MarkleyStrategy and Operations
DirectorGorilla Group
Presented by
Victoria is a top tier ecommerce strategy consultant with proven excellence specializing in business analysis, program management, and client management for enterprise-wide custom and application development Information technology implementations across multiple industries and solutions. She has significant experience developing business solutions, consultative recommendations, and strategy roadmaps.
Markley is also a member of Magento's developer advisory board, and is a recognized expert in developing ecommerce strategies on the Magento platform.
Amit ShahChief Executive Officer
Presented by
Amit Shah is CEO of Jirafe, Inc., and has more than 15 years of experience in the ecommerce space.
As a venture capitalist early in his career, he invested in petstore.com, and then went on to serve as both an executive and founder at several successful ecommerce technology companies.
He founded Jirafe with the belief that ecommerce providers needed insight into their businesses in a way that drives action. Prior to Jirafe he helped start OpenX, and ran sales and business development worldwide for Magento.
Review customer data and remember, “Your opinion, although interesting, is irrelevant.”
Common Challenges of Growing Businesses
+ Sell your brand first and products will follow
+ Connect the customer to your brand
+ Satisfy the customer
+ Protect your brand
+ Non-transactional site must support product details
Elevating Brand Recognition (use iPad in the field image)
+ User Interface does not speak to customers
+ Commerce site lacks modern bells and whistles
+ Business is not enabled to drive new revenue
Common Challenges For Ecommerce Sites
Peter Millar1: User interface does not speak to customers
+ Challenge: UI to match luxury lifestyle brand
+ Responsive design to engage mobile users
+ Increased revenue 67% YOY
Murray’s Cheese2: Commerce site lacks modern bells & whistles
+ Challenge: Capture famous NYC in-store experience
+ Educate through blog and build-a-basket functionality
+ 175% increase in gift basket orders
5.11 Tactical3:Business is not enabled to drive new revenue
+ Challenge: Add complementary channel to in-store retail
+ Drive traffic to web by offering exclusive offers
+ 51% increase in online revenue YOY, then proceeded to ramp-up marketing staff
Summary
+ Launch is just the beginning
+ Ecommerce is a program not a project
+ Achieve initial success and re-invest for continued growth
+ Choose the right commerce service provider partner to meet needs, and bring to bear valuable insights and partnerships to the ecosystem
Meet Your Competition
. . . and those are just the big guys!
Winning New Customers is Hard, and Then You Have to Bring them Back . . .
Some Industry Stats67 percent of online shipping carts are abandoned (comScore)
75 percent of shopping cart abandoners return within a 28-day period. (Forrester)
The top 10 commerce sites convert 23 percent of visitors to buyers each session. (SeeWhy)
66 percent of Amazon’s sales are repeat purchases - they optimize for returning visitors, but the industry average is 7 percent. (ClickZ)
More than 80 percent of brands send the same message to all of their customers, and not all customers are created equal (hubspot)
Jirafe Case Study1: An Apparel Retailer
in
Goals:• Improve Audience Segmentation • Boost Repeat Purchase Rates• Reward Loyal Customers
Jirafe Case Study 2: A Home Goods Retailer
Goals• Increase Average Order Value by
Creating Product Bundles• Remerchandise Site Based on
What Products are Selling
Jirafe Case Study 2: A Home Goods Retailer
Goals• Win Back Inactive Customers• Reduce Abandonment Rates
Key Tips for E-Commerce Marketers: Data Can Tell You How To:
1. Understand who your customers are. • Who buys at full price? • Who only buys on sale?• What’s your repeat purchase rate 30, 60, and 90 days after a customer makes
their first purchase?• What customers are at risk of leaving?
2. Understand what they buy. • What products convert the best?• Which products are frequently purchased together?• Which products are the most abandoned?• Which products are the most discounted, and with ones are your rock stars?
3. Reengage visitors who don't buy on the first visit. • What products did they abandon?• Can you encourage their purchase with retargeting?• What offers can you make to incentivize purchase behavior
Common Challenges of Growing Businesses
Questions?
For a copy of this presentation and other useful materials, visit:
http://info.jirafe.com/meet_magento_ecommerce_toolkit
Contact Us!
Victoria MarkleyStrategy and Operations DirectorGorilla [email protected]
Amit ShahChief Executive [email protected]