MikMak’s Post

Here's the highlights from Klaviyo's 2024 State of eCommerce Report: 📢 2024 Ecommerce Trends: Growth, Optimism, and Strategic Priorities Key Takeaways: 1) Revenue Growth Across Regions & Verticals - 47% of North American retailers expect significant revenue growth in 2024. - Home & garden, apparel, and health & beauty are the leading sectors. - 67% of companies report higher profits despite rising costs. 2) Consumers Are Spending Cautiously - 41% of consumers plan to increase spending, but 48% expect spending to stay the same. - Price (78%) and quality (77%) are top decision-making factors. 3) Omnichannel Experience Is Critical - 66% of consumers prefer in-store shopping, followed closely by ecommerce and third-party platforms. - A seamless integration of online and offline channels is key to success. 4) Personalization & Customer Engagement - 54% of retailers use personalization, and 60% of consumers value it. - 90% of those who experience personalized content report satisfaction. - More investment in data-driven personalization is needed. 5) Marketing Channels That Matter - Top channels: Search engine results, email marketing, and broadcast ads. - Influencer marketing is declining in impact, despite continued investment by brands. 6) Discounts & Loyalty Drive Repeat Business - Discounts, loyalty programs, and product reviews are critical for customer retention. - Over 60% of companies are offering more discounts, while balancing price increases. 6) Mobile & In-App Marketing: Missed Opportunity - 84% of consumers use mobile apps, yet SMS marketing is underutilized. - Only 50% of retailers plan to increase investment in SMS, despite 39% of consumers being influenced by it. Success in eCommerce in 2024 will rely on balancing price, quality, and seamless customer experiences. Brands that focus on omnichannel strategies, personalized engagement, and high-impact marketing channels will stand out in this competitive landscape. #ecommerce #omnichannel

Unlocking the full picture of customer interactions is crucial in today’s omnichannel landscape. In OptiMine's latest blog post, we focus specifically on offline conversions - diving into their complexities and explore effective measurement strategies. Read now: https://lnkd.in/gKUfetra #OfflineConversions #MarketingMeasurement #OmnichannelMarketing #MeasurementStrategies

This blog forms has great insights into how to build long-term sustainable growth - see link below #thoughtleadership #sustainablegrowth #D2C #performancemarketing

💖 When customers feel connected, they're not just buyers. They become loyal fans and brand advocates. Brands excelling in personalization, First-Party data use, & omnichannel engagement saw a massive 123% revenue increase from customer engagement. 🔍 Want to build this powerful connection? ▶️ https://buff.ly/483hZvs #retailmarketing #digitalretail #retailmarketingtrends #retailmarketingstrategy

𝗠𝗼𝘀𝘁 𝗲𝗰𝗼𝗺 𝘁𝗮𝗿𝗴𝗲𝘁𝘀 𝗮𝗿𝗲 𝘂𝗻𝗿𝗲𝗮𝗰𝗵𝗮𝗯𝗹𝗲/ 𝗱𝗮𝗻𝗴𝗲𝗿𝗼𝘂𝘀 (𝗮𝘁 𝗹𝗲𝗮𝘀𝘁 𝘁𝗵𝗲 𝗼𝗻𝗲𝘀 𝗹𝗮𝘀𝘁 𝗰𝗼𝗺𝗺𝘂𝗻𝗶𝗰𝗮𝘁𝗲𝗱 𝗽𝘂𝗯𝗹𝗶𝗰𝗹𝘆) 𝗢𝘂𝗿 𝗽𝗲𝗿𝘀𝗽𝗲𝗰𝘁𝗶𝘃𝗲: i) In a context of slower ecom growth/ higher ecom competition, ecom targets set in 2021/22 are largely obsolete/ unreachable, even in case of significant outperformance ii) Those targets, if pursued, could lead to omnichannel value destruction/ over-investment on ecom iii) Unsurprisingly, less & less FMCG companies communicate/ refer to those ecom targets publicly & rather pivot to a dynamic market share approach (online vs. offline) which is often only communicated internally to reduce pressure from the financial community 𝗧𝗶𝗺𝗲 𝘁𝗼 𝗰𝗵𝗮𝗻𝗴𝗲 𝗼𝘂𝗿 𝗮𝗽𝗽𝗿𝗼𝗮𝗰𝗵 𝘁𝗼 𝗲𝗰𝗼𝗺 𝘁𝗮𝗿𝗴𝗲𝘁: i) Overall, it is critical to shift from a static top-down weight % number to a dynamic bottom-up (built by brand/ country/ sub-ecom channel) Market Share Index Target (MSIT) online vs. offline ii) Specifically, this MSIT should be driven by the value at stake (opportunity/ cost of not doing/ cost of doing) of ecom (or the sub ecom channel) for the brand/ country, which is itself driven by: - The relevance of online/ sub ecom channel to the brand/ country (weight, long-term share of growth) - The role of online/ sub ecom channel for the consumer(s) (quantitatively: ROPO effect; qualitatively: shopping missions) - The expandability potential of our position on the channel (under-trading vs. offline, low market share, category with low penetration) - The profitability of the channel (vs. other channels but also vs. other marketing tactics) - The CLTV or 1-year gross margin per consumer 𝗧𝗶𝗺𝗲 𝘁𝗼 𝗮𝗱𝗮𝗽𝘁 𝗼𝘂𝗿 𝗲𝗰𝗼𝗺𝗺𝗲𝗿𝗰𝗲 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗲𝘀 𝘁𝗼 𝗺𝗮𝘅𝗶𝗺𝗶𝘇𝗲 𝗶𝗻𝗰𝗿𝗲𝗺𝗲𝗻𝘁𝗮𝗹 𝗼𝗺𝗻𝗶𝗰𝗵𝗮𝗻𝗻𝗲𝗹 𝘃𝗮𝗹𝘂𝗲 𝗧𝗼 𝘂𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱 𝗺𝗼𝗿𝗲 𝗮𝗯𝗼𝘂𝘁 𝗼𝘂𝗿 𝗽𝗲𝗿𝘀𝗽𝗲𝗰𝘁𝗶𝘃𝗲 𝗼𝗻 𝗳𝘂𝘁𝘂𝗿𝗲 𝗲𝗰𝗼𝗺𝗺𝗲𝗿𝗰𝗲 𝗴𝗿𝗼𝘄𝘁𝗵 𝗶𝗻 𝘁𝗵𝗲 𝗙𝗠𝗖𝗚 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝘆, 𝗿𝗲𝗮𝗱 𝗼𝘂𝗿 𝗹𝗮𝘀𝘁 𝗽𝘂𝗯𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻: FMCG CEOs: Why Do We Need To Update Now Our Ecommerce Strategies Or How To Maximize Its Incremental Omnichannel Value - The Rise Of Ecommerce 2.0 https://lnkd.in/eDY3zrmi To receive the corresponding deck, pl. leave your name in comment 𝗧𝗼 𝗴𝗲𝘁 𝗮𝗹𝗹 𝗼𝘂𝗿 𝗶𝗻𝘀𝗶𝗴𝗵𝘁𝘀, 𝗳𝗼𝗹𝗹𝗼𝘄 𝘂𝘀/ 𝘀𝘂𝗯𝘀𝗰𝗿𝗶𝗯𝗲 𝘁𝗼 𝗼𝘂𝗿 𝗙𝗠𝗖𝗚 𝗖𝗘𝗢𝘀 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝗻𝗲𝘄𝘀𝗹𝗲𝘁𝘁𝗲𝗿: 𝗵𝘁𝘁𝗽𝘀://𝗹𝗻𝗸𝗱.𝗶𝗻/𝗲𝗥𝟴𝘃𝗗𝗽𝘃𝗘

𝐖𝐇𝐘 𝐋𝐎𝐘𝐀𝐋𝐓𝐘 𝐏𝐑𝐎𝐆𝐑𝐀𝐌𝐒 𝐅𝐀𝐈𝐋 𝐎𝐑 𝐒𝐔𝐂𝐂𝐄𝐄𝐃 : 𝐏𝐇𝐘𝐒𝐈𝐂𝐀𝐋-𝐅𝐈𝐑𝐒𝐓 𝐕𝐬 𝐃𝐈𝐆𝐈𝐓𝐀𝐋-𝐅𝐈𝐑𝐒𝐓 𝐁𝐑𝐀𝐍𝐃𝐒 Brands are under increasing pressure to cut costs while driving growth by enhancing repeat business from customers, making customer loyalty a vital component of sustainable success. This is even more essential as brands transition from physical and digital realms to becoming omnichannel. However, whether a brand started as physical-first or digital-first significantly influences its loyalty strategies. It's important to consider some of these nuances to ensure that your loyalty program continues contributing to business success. ⚫ 𝐂𝐮𝐥𝐭𝐮𝐫𝐚𝐥 𝐃𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐜𝐞𝐬 Physical-first retailers often grow cautiously, focusing on optimizing space, product availability, and marketing, with marketing & promo spend typically around 5-10% of revenue. In contrast, digital-first brands, often backed by investors, prioritize rapid scaling and may spend 20-30% of revenue, even at lower revenue levels. ⚫ 𝐃𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐞𝐫𝐬, 𝐃𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐭 𝐄𝐱𝐩𝐞𝐜𝐭𝐚𝐭𝐢𝐨𝐧𝐬 Physical-first brands may hold appeal based on location proximity and face-to-face interactions, while digital-first brands appeal to a tech-savvy audience that prioritizes convenience and speed. When designing loyalty programs, physical-first retailers may benefit from straightforward incentives for purchases, whereas digital-first brands can leverage gamification to engage customers. ⚫ 𝐌𝐞𝐚𝐬𝐮𝐫𝐢𝐧𝐠 𝐒𝐮𝐜𝐜𝐞𝐬𝐬: 𝐈𝐭’𝐬 𝐍𝐨𝐭 𝐭𝐡𝐞 𝐒𝐚𝐦𝐞 𝐟𝐨𝐫 𝐁𝐨𝐭𝐡 Physical-first brands tend to focus on metrics like retention, repeat purchase rates, and customer lifetime value (CLTV), expecting to see measurable ROI from their loyalty programs. Digital-first brands, are likely to track growth in session frequency, session duration, active user base etc, and be patient with financial metrics, given their emphasis on rapid scaling. ⚫ 𝐄𝐧𝐡𝐚𝐧𝐜𝐢𝐧𝐠 𝐂𝐮𝐬𝐭𝐨𝐦𝐞𝐫 𝐃𝐚𝐭𝐚 Physical-first retailers look to enhance digital interactions within their stores. This approach not only fosters a richer customer experience but also generates valuable data that deepens the understanding of shopping behaviour. On the other hand, digital-first brands are keen to gather first-party data related to product feedback and try-and-buy scenarios, which are crucial for refining offerings and improving customer engagement. ⚫ 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐂𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐬 For physical-first retailers, establishing a digital footprint is a smaller investment compared to the substantial investment required for digital-first brands venturing into physical retail spaces. At MAAVRUS, we understand these nuances and help brands with loyalty program design & implementation that align to their business goals and culture. Interested in learning more? Reach out to us at support@maavrus.com. #physicalfirst #digitalfirst #customerloyalty

🚀 Sharing an insightful article on ecommerce growth strategies that every online store owner should read! Dive into the 12 key ideas highlighted in the piece to enhance sales, expand customer base, and elevate your digital presence. From personalized experiences to embracing omnichannel marketing, there's a wealth of knowledge to absorb. What's your take on the impact of personalized content and the importance of sustainable practices in ecommerce growth? Share your thoughts! 🌟 #EcommerceStrategy #DigitalMarketing #CustomerExperience https://lnkd.in/eD-zcQs4

CSB 5210 Assignment #5 I admire how Target has mastered retail marketing through its unique blend of customer engagement, data-driven insights, and omnichannel strategies, creating a seamless shopping experience. As a Target Circle rewards member and regular shopper, I’ve experienced how personalized deals and ads through the Target app continuously motivate me to shop more often. Their ability to connect with me through relevant offers makes the experience feel tailored to my needs, strengthening my loyalty. I believe the key to success is focusing on authentic relationships with consumers, much like Target has done. https://lnkd.in/ejRjjcd5 #marketing5210Fall2024 #CAUMarketing

Propel Your E-commerce Venture: Strategies for Sustainable Growth Propelling your e-commerce venture to success requires a multifaceted approach that encompasses branding, user experience, marketing, omnichannel selling, customer loyalty, and continuous innovation. Establishing a strong brand identity sets the foundation for differentiation and trust, while optimizing user experience design ensures seamless navigation and conversion. Leveraging data-driven marketing strategies enables targeted and personalized communication with your audience across various channels, driving engagement and sales. Expanding your reach through omnichannel selling allows you to meet customers where they are, whether on your website, third-party marketplaces, or social media platforms. Cultivating customer loyalty through rewards programs and exceptional service fosters repeat purchases and brand advocacy, fueling long-term growth. Finally, embracing a culture of innovation and adaptability enables you to stay ahead of the curve and capitalize on emerging opportunities in the ever-evolving e-commerce landscape. By prioritizing these key strategies and remaining agile in response to market dynamics, you can propel your e-commerce venture towards sustainable growth and success, fulfilling the needs and expectations of your customers while driving profitability and expansion.

In 2024, e-commerce trends will focus on creating seamless, high-quality experiences for both new and existing customers. A/B testing, personalization, and multichannel communication are on the rise, helping businesses connect with their audiences more effectively. Learn more about the latest e-commerce trends in our blog post: https://lnkd.in/geurWX7S #MarketingAutomation #EmailMarketing #ECommerce #Personalization