Archive for March, 2011
Of the, due to budget restraints, limited marketing tools I have had at my disposal over the last few years as a small entrepreneur, e-mail campaigns without a doubt possessed the largest ROI. This personal experience is vindicated by a Direct Marketing Association study, which calculated a $43,62 ROI for every $1 of marketing spend! Number 2 on the ROI-Hot 100 is SEM, which yields a $21,85 ROI – 50% lower! At the same time, it has to be said that the trend indicates that e-mail ROI will decrease over the next couple of years. The time of the massively, indiscriminately sent out e-mails seems to be coming to an end.
What follows are a few tips what you can to do counteract the trend (and which a lot of companies already are doing): (more…)
When I read Joy Tanksley’s post about “The King’s Speech” on Copyblogger, I had to laugh. The reason being that, when I watched the movie, I thought a lot of the same ideas she exposes. According to Joy, especially small entrepreneurs, have 4 important lessons to learn from Lionel Logue, the speech therapist portrayed in the movie.
First lesson: quality without any compromise
During the course of the movie Lionel always remains true to his principles and methods, even though they are being questioned time and time again, because he is convinced that he is offering a worthwhile and above all functioning service. As an entrepreneur one is often tempted to stray from the original business model in order to achieve short-term benefits and satisfy the wishes of a particular client. Or one might grant a significant discount, selling oneself at less than fair value. Such behavior, however, tends to backfire. By compromising one’s principles, one loses one’s USP and sooner or later business. Additionally, in the age of social media it has become ever more important to consider the ramification each action might have on one’s reputation. (more…)
Econsultancy has conducted a small study of the factors that influence a customer’s purchase decision on e-commerce sites. The obtained results correspond to other studies as well as my personal experience and can lead to significant improvements of your conversion rate.
1) Delivery Costs
Which kind of delivery is preferred and how much it should cost was different for each person. There was, however, unanimity that the delivery costs should be displayed and transparent from the start of the purchase process. There is nothing more unpleasant for a consumer – and I’m speaking from personal experience – than discovering delivery costs at the end of the checkout. Indeed it makes little sense to put in place a last obstacle (i.e. additional costs) just before successfully closing a transaction. Common sense alone dictates not to do so. The only reason I can think of that would warrant withholding these extra costs is the intention to increase one’s margin a bit, but if higher delivery costs are necessary for that, one should, perhaps, reflect on one’s business model.
Ein Plus konnten auch die Sites verbuchen, die ab einem bestimmten Betrag Lieferung frei Haus anbieten. Alle Teilnehmer merkten an, dass sie dies sicherlich motivieren würde mehr auszugeben.