Our thoughts on Internet Retailing 2013

Enjoy Digital
By Enjoy Digital
5 minutes to read

Our thoughts on Internet Retailing 2013

Earlier this month retailers and marketers from across the UK (Including the team from ED) congregated at the Novotel Hammersmith for the Internet Retailing 2013 conference.

The event concentrated on the main upcoming trends and the technological opportunities that have been unearthed with the mobilisation of “Big Data” and new understandings of the ever-changing customer experience landscape.

Our thoughts on Internet Retailing 2013

The 3 keynote arenas were hosted by various leaders from the industry covering:

  • The Customer – What they think and expect, involving analysis of customer behaviour, experience and interaction.
  • The Business – How are retailers matching and exceeding customers’ expectations, while differentiating from their competitors?
  • The Industry – Looking beyond expected practice to the leading edge which could be the ‘retail basics’ of future years.

My thoughts from the Keynote sessions:

There is more data than ever available, and by using the right technologies we can interrogate, analyse and understand it in ever changing new ways. This will continually generate key insights on our customers, to reveal how they interact with our brand and product.

This has great benefits for customer experience design, marketing automation, personalisation and conversion optimisation.

The ability to analyse each step of the customer experience allows companies to both create an overall picture of how the customer interacts with their brand, while also allowing analysis of data to fuel optimisation and in turn conversion.

Mobile

The biggest opportunity for e-commerce is mobile, and by generating a greater understanding of how customers use devices to interact with your brand you can create a more informed customer experience strategy.

Marketing Automation & personalisation

With so much valuable user-experience rich data now available, when teamed with marketing automation technologies, this can lead to a significant reduction in administration while also increasing conversion by personalising customer communications based on set interactions. It is therefore vital to invest time and expertise in understanding the customer and creating bespoke contact strategies. However, this is not an overnight process, and it is more of a continuous review and on-going optimisation.

Customer Experience

Peter Fitzgerald, Country Retail Director at Google UK, believes that whilst mobile should be a key focus in retailers’ five-year plans, they must also ensure that they are putting their customer first and working hard to get them the products and services they want at the right time, regardless of touchpoint.

Retailers must be prepared to make the most of the customer experience at all possible touchpoints in order to succeed in a multichannel era where 72% of the UK population now owns a smartphone and 50% use it to buy

How we apply this thinking at Enjoy Digital:

There were many valuable points to learn from the concepts and evidence considered at the Conference, and at Enjoy we are already implementing many of these key elements, which we’ve implemented on a number of our current website design projects.

The new website development for York, North Yorkshire and East Ridings Local Enterprise Partnership allows the user to tailor their viewing and engagement preferences to only be presented with information that they are interested in.

This data is collected using a piece of marketing automation software called Communicator Corp, which allows for personalised communications which only contains relevant information based on user preferences.

The website has been designed with a clean and intuitive mobile experience, as the main audience consists of busy business people who are always on the go.

Highlights from Workshop sessions at Internet Retailing 2013 include:

Responsive Design: How to Deliver Omni-channel Success with Rich Interactive Experiences that Convert

  • Out of 63 brands that attended Fashion Digital New York, only 9 had responsive websites, 23 had mobile sites and a shocking 39 had neither!

The lack of a responsive website significantly damages the customer experience, and with 50% of smartphone owners using their device to buy, this absence of an online place of purchase significantly damages your competitive position.

  • YOY growth in ecommerce remains strong in Q2 2013 at 15%, but if you remove the data for mobile ecommerce there is no growth at all!

 Brands with weak optimisation on mobile platforms are shrinking their own market offering, and will see little or no growth in this expanding sector.

  • 21% of consumers who use multiple screens account for nearly 44% of all online transactions

The customer journey must exist on all devices to allow them to experience your brand at any time of day.

  • Responsive design delivers results with key brands seeing huge increases in revenues and profits including:

Bench +100% increase on mobile sales, Lovehoney +60-100% increase in sales online, State farm +56% on all devices

Marketing Automation: How can you easily attract the most cost-effective and relevant traffic to your website?

HP Autonomy led the workshop where they intensely promoted their ERP platform IDOL, which connects all areas of your business to harvest data which can allow you to gain rich insights of your customers.

It’s been proposed that people now generate as much data in 2 days as we did collectively from 2500BC to 2003!

In many organizations, up to 90% of this data is comprised of unstructured information. This encompasses a broad spectrum of data types from a diverse set of sources including telephone conversations, voicemails, emails, electronic documents, paper documents, images, web pages, video, and hundreds of other formats.

HP Autonomy’s ability to process all forms of digital information on a single platform offers a unique solution to a growing number of applications and devices that are increasingly dependent on utilizing unstructured information.

An overview of IDOL

Fig. an overview of IDOL

By using HP Autonomy’s IDOL OS, in conjunction with their diverse range of apps, you can search, analyse, personalise and enhance your data.

The information produced can then be used to optimise your marketing efforts, produce deeper segmentations and personalisation, and improve overall conversion rates and ROI.

An interesting fact learned from the day – for every $92 spent acquiring customers only $1 is spent converting them once they are on-site!

Internet Retailing 2013 Exhibitors with great technologies included:

Fits.me offers great applications for online fashion retailers by providing virtual fitting room solutions. This innovative product is has some great benefits, including boosting revenues and profitability by solving the online-to-reality clothes sizing problem. http://fits.me/

Bronto Software provides a cloud-based marketing platform for retailers to drive revenue through their email, mobile and social campaigns. http://bronto.com/

Netswipe offers your customers an easier way to pay, enabling your mobile app or site with creditcard scanning and validation, which will make your revenue soar. http://www.jumio.com/netswipe/

Virtual Piggy allows kids and teens to manage their money online and on-the-go, all within parental controls. http://www.virtualpiggy.com/

Our thoughts on Internet Retailing 2013

comments powered by Disqus