The holidays can be a joyful time for those manufacturers who get all the items ticked off their wish lists. How many of the following 19 elements are you confident about? Besides the new reseller tracking tool from The Search Monitor, few other things are likely to make consumer brand manufacturers happier than the following these days:
1. Amazon optimization leading to higher rankings and leapfrogging of competitors who undercut on pricing.
2. Direct-to-consumer (DTC) e-commerce channels (Fact: 76% of companies going this route report meeting or exceeding revenue targets; others predict the DTC online channel will be “the highest generator of sales revenue within two years”).
3. Increased customer engagement, brand experiences and partner relationships through a DTC e-commerce channel.
4. Getting links to the company website via a customer-centered blog that does not simply push products.
5. Catering to the unique needs of 5 types of e-commerce shoppers (as identified by the Norman Nielsen Group): Product-focused, browsers, researchers, bargain hunters and one-time shoppers.
6. Insight into what products users are searching for on the actual company website (which can then be applied to the retail channel).
7. Elimination or minimization of channel conflict.
8. An online conversion rate of at least 3.30% to match the average for Internet Retailer Top 500 merchants, as opposed to the current 2.24% that 66 consumer brand manufacturers in the top 500 are averaging.
9. Enforced compliance with minimum advertised price (MAP).
10. Being one of the 62% of e-commerce stores that adopted Google’s new ‘Universal Analytics’ between January and July 2014.
11. Using new Universal Analytics features to learn more about the customer journey: ‘Enhanced E-commerce,’ ‘Dimension Widening,’ ‘Measurement Protocol’ and ‘User ID.’
11. Profitable advertising that stems from 1:1 remarketing.
12. Maximum efficiency from the e-commerce team, typically responsible for 10-20% of company revenue.
13. Owning a significant share of extensive retail holiday traffic, e.g., 3.5 billion visits made to top 500 retail websites during the 2013 holiday season.
14. A clear, omnichannel voice of the brand.
15. Improved margins (a perennial favorite).
16. Experimenting with the potential of Twitter’s new ‘Buy’ button (and Facebook’s).
17. Reaping a healthy share of the $96 billion e-commerce holiday spend.
18. Supporting users of shopping carts to better help buyers make their final decisions as they go through a non-linear process.
19. Offering free shipping (and returns)! A July 2014 comScore survey found 58% of consumers adding more items to shopping carts in order to reach free shipping thresholds, and 83% waiting out deliveries in order to earn free shipping.
Don’t let the Grinch steal your holiday profits … or any profits. The above list of 19 items are just a start of where to direct your attention. For more details about how to smartly deploy seasonal marketing, analytics and conversion strategies, check out Fathom’s guide for profitable retail holidays.
Photo courtesy of sunchild123 via Flickr.