digital growth graphs

 

In the digital space, the drivers for online revenue success are the following:

Axiom #1
– Be flexible. The only constant is change.
– Perpetually pursue market positioning.
– Adapt to shifting customer needs, intent, and sentiments.
– Hone and master your brand story. And creatively tell it.
– Curate highly targeted campaigns, messaging, and experiences.

Axiom #2
These are the resolute Essentials
– Clearly defined, measurable goals.
– Well planned, data-informed strategies.
– Marketing automation for efficiency and effectiveness.

These are the fluid Essentials
– Agile tactics that will evolve and change based on performance.
– A testing regimen that is iterative and quantifiable.
– A penetrative approach to capture attention, persuade, and influence.

Axiom #3
– Utilize data to understand customer behaviors, gain insights, and forecast buying trajectories.
– Be solutions-driven with customers and solve problems in ways that trigger actions.
– Troubleshoot lagging sales performance and explore untapped sales terrain.
– Diligently pilot highly organized project workflows and meticulous tracking.

Final Thoughts
– Be careful to not fall back to familiarity, norms, and comfort.
– Challenge, ask questions, rethink, and be ready to pivot.
– Empower people and architect a culture that has a collective mission, curiosity, care, and customer-centricity.
– Transformation requires innovative thinking, a learning mindset, gut-level motivation, and endless inspiration.
– Digital savvy means to be forward-thinking, misfire-tolerant, and future-ready.

bright colors from opening laptop

 

I’ve gained indispensable insights through multiple ecommerce implementations across several industries. Here are vital methods, tactics, and actions for building or advancing a profit-bearing platform.

#1 The Numbers

Quantifiable OKRs (objectives and key results)

Set clearly formulated and specific Business Goals for each of these measurable performance metrics:

  • Conversion
  • Engagement
  • Optimization
  • Monetization

Commit to an Actionable and Achievable Timeline

Too often, the budget, timeline, and resources are not fully defined at the start.  There may be general numbers put on paper, however a successful ecommerce initiative requires forecasting and accounting for each of the following:

  • Ecommerce Software
  • Set up, Servers, Database, Environments
  • 3rd Party Integrations & APIs (Tax, Shipping, Payment Gateway, Technologies, Customer Service, Live Chat, etc.)
  • Technology & Marketing Stack
  • Back-End Integrations (CMS or DXP, CRM, PIM, Database etc.)
  • Mobile Responsive
  • Add Ons, Extensions, Mobile App
  • Project Management
  • Web Development
  • UI / UX, Design, Multimedia
  • Content and SEO
  • Site Performance and Testing
  • Domain, Hosting, SSL
  • Training and Documentation
  • Maintenance, Upgrades, Scaling
  • Launch PR – Internal and External Communications

A more detailed list is available here: https://artofdigitalcommerce.com/ecommerce-archetype/

#2 The Brand

Collaborate and establish the following before your project starts:

  1. Brand Values and Vision
  2. Unique Selling Proposition
  3. Competitive Advantage
  4. Your Brand’s “Wow” Factor
  5. Markets, Competitor Landscape, and Industry Positioning

Be innovative, forward-thinking, and fully customer-centric in this process.

Continue reading “Mastery of Ecommerce – 8 Pillars of the Pursuit”

SEO with cogs

An estimated 97% of mobile searches are done on Google, making it smart to base your strategies on Google’s algorithm, signals, ranking system, and indexing priorities.

With each query, Google looks for the following:

  • How a web page relates to certain concepts
  • The context of the keywords being used
  • Relevancy of the page to the query itself

Additionally, it factors in site speed, mobile responsiveness, and the performance of core web vitals.

Speech tagging and answering questions are among the natural language processes being used by search engines.  Further, the domain rating (DR) will influence your backlink profile, while domain authority (DA) will impact your search engine positioning.

Other ranking factors include:

  • Industry authority
  • User interface framework
  • Crawlability / indexability
  • Quality of content
  • Backlinks
  • Page rendering
  • Mobile experience
  • Site architecture
  • Content clustering and semantic relationships

Your keyword approach must be designed to achieve the right reach, frequency, channels, and marketing mix.

Continue reading “SEO – An Easy Guide to Impact Performance”

Interface technology, the future of user experience.

 

B2C, B2B, D2C, Omnichannel, Social Commerce, Marketplaces – each has distinctive selling strategies and opportunities.  Consider which one (or few) aligns with your business model and objectives.

 

B2C

Often, this is a business with several brands or categories with broad demographics for its prospective customers, aiming for sales volume even if profit margins are tight.

Ecommerce Strategy: A heavy emphasis on promotions, incentive selling, and strong market positioning. Creative campaigns that are compelling and impactful are essential to establish a unique selling proposition and a competitive advantage. The drive is to influence motivation and trigger actions. Discounts, on-site sale events, clearance, exclusive coupons, and flash price drops are used to impel transactions. Generating leads is orchestrated with contextual insight, optimized messaging, personalized experiences, and a cadence of interactions that acquire, enable, and engage.

 

B2B

A business selling products and/or services to other commercial businesses – either in a single sector or several different verticals.

Ecommerce Strategy: There is an emphasis on industry authority, building relationships, and tactical selling based on price points, bulk purchases, recurring orders, or a contractual buying schedule. Content marketing and a highly effective communication style are key to B2B digital sales because it’s here where information is king. The business is a partner to the customer with solution-based services and an optimal product mix.  The company must be prominent in its online placement, reviews, directories, and citations. And build an empire of insights, because the customer is continually seeking knowledge and ideas to strengthen their operation and performance.

 

D2C

Businesses that are innovative, expedient, and principled in their selling of one or multiple product lines where need, interest, and enthusiasm are high motivators for an audience that has been segmented into specific buyer personas.

Ecommerce Strategy: Maintain a focus on agility, iterative experiments, and optimal user experiences throughout the buying journey. Whether solving a problem or sparking an interest, use of rich media and social channels are critical to achieving order placement, repeat business, loyalty, and development of ambassadors. As a business designs its strategy, the pillars must start with mobile and site performance – both of these tower above other reigning factors.

 

Continue reading “Strategy Insights for 7 Digital Business Models”

Digital Engagement Strategy

 

In 2020, small and medium size businesses (SMBs) experienced the fastest growth of online sales in the last five years.  The motivation to purchase online continues to rapidly rise. Is your business positioned to take advantage of digital commerce? 

Here are some questions to weigh:

  • Are the value and distinct benefits of your products or services expressed clearly and concisely?
  • Are you effectively customizing campaigns to tap the unique buying intent of each customer segment?
  • Is the brand messaging being consistently shaped to inspire, inform, and persuade the audience?
  • How creative, impactful, and informative is the visual experience of your brand?
  • Do you tell an authentic and compelling story which your audience can relate to?
  • Do the website’s interface and user experience drive conversions – how well have you tested the content, graphics, elements, functions, navigation, information architecture, performance, and mobile design?
  • Can a visitor seamlessly and intuitively search for products or information on your website?
  • Is your monetization strategy being executed across channels with the right cadence to influence action?

While seemingly simple, there is a complex formula to digital commerce, which is an art (creativity, content, and innovation) and a science (automation, testing, and technology). Being strategic, agile, and tenacious in both interface and infrastructure are essential to building online sales. 

Continue reading “SMBs – Digital Growth and Monetization”