Tuesday, December 6, 2011

According to recent research from NRF, 3.6 million stores draw on a vast array of suppliers and support 42 million jobs and $2.5 trillion of annual GDP in the U.S. While the impact of the industry just keeps growing, a very important part of that is the double-digit growth area of digital. According to the Shop.org and Forrester Research 2011 State of Retailing Online Report: Merchandising, Headcount & Global Strategies, as the web has grown in importance, we’re seeing retailers invest in the additional staff needed to support their growing businesses. In general, the average online retailer reported web dedicated teams of full-time hire counts (excluding customer service and fulfillment) of 50 employees and 29% expect to increase full-time headcount between 10-20% for web and e-commerce teams. These numbers show conservative increases given the overall growth in the e-commerce channel, but growth nonetheless. So where are these retailers investing in additional headcount for their teams? In general, web retailers are investing in the following: * Mobile: According to our survey, increased web traffic from mobile devices and lofty goals for mobile to drive sales is sparking jobs for mobile-savvy retailers. About 44% of retailers say they plan to hire full-time employees dedicated to mobile efforts. * Merchandising: Over 58% of online retailers plan to add headcount in the areas of merchandising, a core component of an e-commerce business focused on website design and usability, customer experience, product categorization and details, and conversion. * Analytics: More devices being used at increasing frequency means retailers have access to more data than ever before. But, what good is the data without time to efficiently manage the volume, analyze it, and turn insights into action? A deeper dive into data from site and vendor analytics are enough to push 46% of retailers surveyed to add headcount to their analytics function in the coming year. Overall, we’re seeing conservative growth taking place, but job creation when it matters most. At Shop.org, we’re proud that for years, our community has supported the retail community with our own job board, dedicated to helping retailers and the technology providers that support retail to help find and hire talent. In fact, in just the last month, over 50 jobs in the digital space were posted at companies including: Bed Bath & Beyond, Henri Bendel, Office Depot, The Home Depot, ModCloth, Talbots, and The Tractor Supply Company. As retail continues to power millions of jobs around the United States (and around the world) we can only predict that retailers with a strong and growing web team will lead the pack as consumers continue to expect and demand better, stronger, and faster personalization, product availability, and customer service at every screen (and store) at their disposal. 42 million strong, and counting…

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According to recent research from NRF, 3.6 million stores draw on a vast array of suppliers and support 42 million jobs and $2.5 trillion of annual GDP in the U.S. While the impact of the industry just keeps growing, a very important part of that is the double-digit growth area of digital.
According to the Shop.org and Forrester Research 2011 State of Retailing Online Report: Merchandising, Headcount & Global Strategies, as the web has grown in importance, we’re seeing retailers invest in the additional staff needed to support their growing businesses.

In general, the average online retailer reported web dedicated teams of full-time hire counts (excluding customer service and fulfillment) of 50 employees and 29% expect to increase full-time headcount between 10-20% for web and e-commerce teams. These numbers show conservative increases  given the overall growth in the e-commerce channel, but growth nonetheless.
So where are these retailers investing in additional headcount for their teams? In general, web retailers are investing in the following:
  • Mobile:  According to our survey, increased web traffic from mobile devices and lofty goals for mobile to drive sales is sparking jobs for mobile-savvy retailers. About 44% of retailers say they plan to hire full-time employees dedicated to mobile efforts.
  •  
  • Merchandising:  Over 58% of online retailers plan to add headcount in the areas of merchandising, a core component of an e-commerce business focused on website design and usability, customer experience, product categorization and details, and conversion.
  •  
  • Analytics: More devices being used at increasing frequency means retailers have access to more data than ever before. But, what good is the data without time to efficiently manage the volume, analyze it, and turn insights into action?  A deeper dive into data from site and vendor analytics are enough to push 46% of retailers surveyed to add headcount to their analytics function in the coming year.
Overall, we’re seeing conservative growth taking place, but job creation when it matters most. At Shop.org, we’re proud that for years, our community has supported the retail community with our own job board, dedicated to helping retailers and the technology providers that support retail to help find and hire talent.  In fact, in just the last month, over 50 jobs in the digital space were posted at companies including: Bed Bath & Beyond, Henri Bendel, Office Depot, The Home Depot, ModCloth, Talbots, and The Tractor Supply Company.

As retail continues to power millions of jobs around the United States (and around the world) we can only predict that retailers with a strong and growing web team will lead the pack as consumers continue to expect and demand better, stronger, and faster personalization, product availability, and customer service at every screen (and store) at their disposal.

42 million strong, and counting…

Monday, December 5, 2011

The future of retail

PSFK Future Of Retail Report 2011 [Preview]
View more presentations from PSFK

5 Easy (Seriously!) Steps to Better Buyer Profiling

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I’ve been trying to get more comfortable with speaking to groups. I took an excellent 3-week public speaking seminar last year to help me learn important things like posture, confidence, organization… and not flipping off your audience through the whole speech. I accidentally did that once.
What I loved most about the class was the importance the trainer placed on knowing your audience. We spent a whole session answering questions about the people who would potentially be sitting in our audience: Why are they there, what other activities might they be missing to hear me speak, what do they really want to hear from me, what will turn them off, what things do we have in common, and so on.

This was a pretty familiar concept for me because we did this all the time in our content strategy engagements with clients. The cool kids call it buyer profiling. Whatever you call it, it is an essential step to developing a content marketing program that will actually help you meet your goals. Cards on the table, buyer profiling isn’t easy. But to follow up on my last post about demystifying and simplifying the content marketing process, this post will show you an easy process for learning everything you need to know about your potential target market without spending a ton of time or money.

If you or your company/clients have been in business for a while, you probably already have everything you need to go through this process with ease. But even if you are new to the content marketing game, you shouldn’t have much trouble implementing the process.

Ladies and gentlemen, chuck your spreadsheets!

I’ve participated in my fair share of “market research” projects where clients would spend embarrassing amounts of money doing mass-scale surveys, hiring telemarketing companies to do phone surveys, and buying lists upon lists of data about potential targets. Here’s what I learned: Spreadsheets filled with data give me the hives.

Here’s the problem with spreadsheets full of data: When we execute a content marketing strategy correctly, we must genuinely care about, serve, or enlighten our audiences to build relationships. Then, it’s those relationships that will ultimately drive business. As human beings, we aren’t programmed to be able to care about or engage with a nameless, faceless “buyer #1″ or “Company X.”

The new media environment isn’t about blasting your marketing message to the masses and hoping your target audience is seeing it. It’s about connecting with your audience — in some cases on a one-on-one basis — matching their needs with your relevant solutions and multiplying it all by the massive reach of the Internet. That’s where the sweet spot is. So if content marketing is about making personal connections, why would we choose to do our customer research on a mass scale?

Buyer profiling for the rest of us

I bet you already have some sort of client or customer database or email/ mailing list. I’m going to show you a very simple way to develop your buyer personas with the data you already have. In fact, I helped a small marketing agency customer with this exercise so I could better explain the process. Here’s what we did.

*Disclaimer! Before you get your analytical pants in a twist, I know this process isn’t scientific. But neither is producing good content. That’s why it’s called an art.

Step 1: Find your “top 20 percent.” We started by running a few reports from their Quickbooks account (but any customer database should work) to take a look at which clients had hired them and what work they hired the agency to do, as well as the amount of revenue that each project generated. Then, to make the numbers manageable, we looked at the top 20 percent of clients that contributed the highest percentage of their business revenue. This agency tends to be picky about the client projects they take on, so they had a smaller number to start with. If you have a large number of customers to look at, I suggest starting with your top 20 percent of customers (in terms of revenue or another relevant qualifier), then narrow it down to a smaller percentage that gives you a manageable list size to analyze. Maybe this is your top 10 percent or maybe 2 percent, depending on the number of customers you have.

Step 2: List what information you know about your customers. After we looked at the top 20 percent of their customers, we wrote down specific characteristics about each. Some sample characteristics you could write down about your top 20 percent include:
For BtoB:
  • Size of company
  • Size of department
  • Title
  • Job duties
  • Whether or not they are the main decision maker
For BtoC:
  • Demographics
  • Geographic area
  • Income level
  • Are they a decision maker? If so, what do they base buying decisions on (e.g., lifestyle — environmentalist, baby boomer, etc.)?
If you don’t have much information on your customers, just focus on the things you do know: Maybe you know where they live, whether they’re male of female, or whether they are cat or dog people. Use this information to determine your key characteristics list.

Step 3: Find the commonalities to find your different segments. Then I reviewed the information about each of the top 20 percent clients and looked for any details that jumped out. As I read through the data, I discovered that most of these clients were either business owners with no marketing staff or corporate marketing managers who either ran their departments alone or with the help of one other person. Interesting! I think we just found their customer segmentations. As you look through your data, take note of any patterns that begin to emerge. What customer characteristics keep showing up? Did some specific “types” of people emerge? Are your clients mostly engineers? Mostly women? Are there a lot of middle managers on your list? Write these distinctions down to use as your buyer categories.

Step 4: Get in their heads. Here’s where the exercise from my public speaking class became so valuable. We began to ask questions about these new buyer categories we’ve defined, looking at the working relationship from their perspective and dialing in on their needs/wants/pain points: Why did they really hire this agency? What is the one thing they want to hear when choosing an agency partner? What pressures do they face in their job? What could the agency do to alleviate that pressure? What things do the agency and the different buyer groups have in common? We wrote all these things down, and if they hadn’t met the clients or didn’t know them personally, we used common sense. (Hint: everything you write down in this step could be turned into a content idea that you can put directly into your editorial calendar.)

Step 5: Give them “life!” Find an image that can represent each one of your different buyer types and give each one of these types a name. Then, based on the questions you answered for them above, start to create their stories. For example,  build a career history for them, include relevant details of their personal lives that explain why they are so busy, how many activities they are juggling at home, or any other specific interests they are likely to have. You can even include the content delivery mechanisms that they might prefer and why. And voila! You have your profile!

Bonus Step: If you want to get more scientific or you have little personal experience with anyone on your user list, (for example, if you work for an Internet business or a gigantic corporation, you might not have direct exposure to your customers) here’s a ready-to-go customer survey template that you can use to gather information from your customer/client list.

The rest of the story

The last thing I took away from my public speaking class was to wrap it up.

Once the marketing agency had a clear (and literal) picture of who its target client was and what they wanted from their agency, we developed their content strategy. Since clearly identifying their ideal, target clients, and building their content strategy to serve them, this little agency has seen significant increases in quality website traffic and more inquiries than they can keep up with.

Put the personas you’ve created in a document, print them out, and hang them on your wall (see another great example here from Barbara Gago). Every time you sit down to craft a piece of content, look at them and remind yourself what you’re really trying to do with your content marketing programs — connect with these people in a valuable and meaningful way.

The Women’s Wear Daily headline on Tuesday summed it up simply: “Cyber Monday Sees Record Shopping.” Undeterred by significant shopping just a day or two beforehand over Black Friday weekend, U.S. shoppers were clearly ready to continue snapping up deals that abounded online for Cyber Monday, rewarding many retailers with record-breaking days. Indeed, comScore tallied the day’s take at $1.25 billion (the “heaviest U.S. online spending day in history”, no less), and IBM Coremetrics reported that Cyber Monday online sales were up 33% over 2010. All of this demonstrates a fantastic start to the season, to be sure – but now the focus turns to making the most of the 23 shopping days left. Before shipping deadlines hit in a few weeks, historical patterns tell us that we can likely expect the next two Mondays to be significant sales days also. My take is that retailers are sitting on a gold mine of sales data garnered over Black Friday weekend and Cyber Monday, which they should now use to make the most of the next few weeks: Turn best seller data into social media, email, site content. Those rafts of Thanksgiving weekend sales data on best sellers and most popular items are perfect for “trend” messaging. Pepper social media outlets, emails, Web sites and mobile apps with this trend content – it’s up to the minute, it’s authentic (straight from fellow customers), and it’s a rich source of ideas for customers to feel they’re buying the “right” gifts this season (whether for others or for oneself). Don’t take your eye off the paid search ball. As Michael Griffin of Adlucent noted in the 2011 Shop.org Holiday Strategy & Planning Guide, proactively managing paid search through the extended holiday shopping season is crucial. Review which categories and products spiked over Black Friday weekend and Cyber Monday, then see if it’s feasible to advertise those proactively; adjust day parting rules to reflect holiday shopping behavior (patterns may be quite different now than even a few weeks ago); and add site links to top performing categories to improve click through rates and traffic. Remarket shopping carts to customers who didn’t quite get to “confirm order.” Maybe the customer just wasn’t sure, maybe they were shopping at multiple sites, maybe they’re still holding out for a better offer even now – my guess is that there are many abandoned shopping carts sitting out there after last weekend. Whatever the original reason for leaving, that unrequited shopping cart is a natural way to reengage (quickly!) with the customer, with or without a sweetener such as a discount or shipping offer. Check out several papers in the Shop.org White Paper Library on this topic, from companies such as SeeWhy and Listrak.

Go to article

The Women’s Wear Daily headline on Tuesday summed it up simply: “Cyber Monday Sees Record Shopping.” Undeterred by significant shopping just a day or two beforehand over Black Friday weekend, U.S. shoppers were clearly ready to continue snapping up deals that abounded online for Cyber Monday, rewarding many retailers with record-breaking days. Indeed, comScore tallied the day’s take at $1.25 billion (the “heaviest U.S. online spending day in history”, no less), and IBM Coremetrics reported that Cyber Monday online sales were up 33% over 2010.

All of this demonstrates a fantastic start to the season, to be sure – but now the focus turns to making the most of the 23 shopping days left. Before shipping deadlines hit in a few weeks, historical patterns tell us that we can likely expect the next two Mondays to be significant sales days also. My take is that retailers are sitting on a gold mine of sales data garnered over Black Friday weekend and Cyber Monday, which they should now use to make the most of the next few weeks:


Turn best seller data into social media, email, site content. Those rafts of Thanksgiving weekend sales data on best sellers and most popular items are perfect for “trend” messaging. Pepper social media outlets, emails, Web sites and mobile apps with this trend content – it’s up to the minute, it’s authentic (straight from fellow customers), and it’s a rich source of ideas for customers to feel they’re buying the “right” gifts this season (whether for others or for oneself).


Don’t take your eye off the paid search ball. As Michael Griffin of Adlucent noted in the 2011 Shop.org Holiday Strategy & Planning Guide, proactively managing paid search through the extended holiday shopping season is crucial. Review which categories and products spiked over Black Friday weekend and Cyber Monday, then see if it’s feasible to advertise those proactively; adjust day parting rules to reflect holiday shopping behavior (patterns may be quite different now than even a few weeks ago); and add site links to top performing categories to improve click through rates and traffic.


Remarket shopping carts to customers who didn’t quite get to “confirm order.” Maybe the customer just wasn’t sure, maybe they were shopping at multiple sites, maybe they’re still holding out for a better offer even now – my guess is that there are many abandoned shopping carts sitting out there after last weekend. Whatever the original reason for leaving, that unrequited shopping cart is a natural way to reengage (quickly!) with the customer, with or without a sweetener such as a discount or shipping offer. Check out several papers in the Shop.org White Paper Library on this topic, from companies such as SeeWhy and Listrak.

Sunday, December 4, 2011

YouTube goes under the knife, new homepage and social integration emerge (video)