Customer Retention’s A Top Priority for Subscription Businesses: What Tactics Are They Using?

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With the benefits of greater revenue, higher profitability and predictability that recurring revenue programs bring, subscription-based companies rely heavily on retaining their existing customers. Indeed, 9 in 10 B2B and B2C subscription businesses put customer retention at a higher (62%) or equal (31%) level of priority than they do customer acquisition, per a report [download… Read More » The post Customer Retention’s A Top Priority for Subscription Businesses: What Tactics Are They Using? appeared first on Marketing Charts .

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Key Insights: Mobile ads “the hotspot”, advertising growth projections, and customer experience dissected

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30-second summary: Mobile ad spending will increase by 4.8% ($4.22 billion) making the total mobile ad spend budget this year to $91.52 billion. Mobile continues to increase its share of digital ad spending, reaching 68% in 2020. The estimated growth for the US digital advertising sphere 2020 that stood at $154.58 billion (pre-pandemic-era) now stands at $134.66 billion. Digital out-of-home (DOOH) advertising is on a ballooning pattern as it is expected to account for 33.0% of all US OOH ad spending. Customer experience, retention, success, and customer engagement were the top four priorities. Technology adoption is the divide between high growth and low growth organizations. Email and CRM were some of the most effective tools used for optimizing customer experience and meeting customer expectations. This week’s key insights give you a clear picture of why mobile ads are the place for your advertising dollars, a revised umbrella view of the …

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Three A/B testing tactics to improve your conversion rate

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30-second summary: A/B testing for conversions can help ecommerce businesses test hypotheses as fast as possible. It is a safe way to use your budget in the best performing tactics that will lead to success. Mobile optimization can impact your success across all stages of the funnel. From new visitors who want to browse through your products through their phone to returning customers who want to purchase their favorite items as fast as possible. Every page on your website can be an opportunity to up-sell. The bundle offer shouldn’t be compulsory but it should still show up as an appealing option. Instead of leaving customers to wander on the page with the danger of exiting, you can help them stay engaged. It should be easy for them to look at the top-selling products to help them sort out their options. It’s more important than ever to optimize your website to …

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How to Choose The Right Ecommerce Agency

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As an industry, ecommerce is expected to grow at a minimum of 6.3 percent per year. According to Statista , user penetration will be 82.2 percent by 2024, up from 77.3 percent in 2020. The retail apocalypse and a worldwide pandemic have boosted ecommerce growth. This is good news for ecommerce companies; it’s great news for ecommerce companies with an agency that’s ready to take advantage of this growth. Here’s what you need to choose the right ecommerce agency. Know Your Goals and Desired Outcomes With ecommerce, the goals and desired outcomes are pretty straightforward. You need to sell products to make money. Your agency’s approach should be geared toward direct response marketing. You send customers a relevant message that’s designed to get them to do something — learn, subscribe, follow, or buy. Here are a few simple goals you can use as a starting point with your agency. Increase …

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Is MarTech Helping Retailers Achieve Their Marketing Goals?

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This year, customer acquisition continues to be a top priority for retail marketers, with 45% ranking winning new customers as one of their top-3 objectives for 2020. But customer acquisition is not the only focus for marketers: improving customer experience (39%) and customer retention (32%) are other leading priorities, per a new report [download page]… Read More » The post Is MarTech Helping Retailers Achieve Their Marketing Goals? appeared first on Marketing Charts .

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What leading consultants say about the usage of AI in marketing?

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30-second summary: In Deloitte’s 2019 CMO Survey Report, 56% of participants anticipated using AI for content personalization. 33% of respondents foresee applying AI for improving marketing ROI by optimizing marketing content and timing. Mckinsey’s survey found that 44% of companies reduced operational costs and increased business revenue by using AI in marketing. The Bain and Company found that marketing insights gathered through new machine-learning capabilities helped gain 10x in marketing performance. The company also saw a 25% increase in additional revenue through cross-selling. An EY study of CEOs and business leaders reveals that 62% of respondents believe artificial intelligence will have a significant impact on creating efficiencies at their company. In a survey conducted by BCG, 90% of respondents agreed that artificial intelligence represents a business opportunity for their company. However, 70% of companies report minimal or no impact from AI so far. Marketers have started using artificial intelligence to …

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How would an SEO agency be built today? Part 2: Current business model(s)

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There are about 36,000 digital marketing agencies worldwide, based on our research on platforms like UpCity, Clutch, and our trials and users. Out of these, about 60% have SEO services integrated into their main activities. New agencies keep appearing, even in the current challenging context — more than 200 were created so far in 2020. With this in mind, our team at SEOmonitor designed a strategic experiment in three parts, starting from the question — How would you build an SEO agency in 2020? In the first part , we’ve explored trends, based on search data, and Gartner’s Hype Cycle to understand what’s transient and what’s here to stay, whether or not accelerated by the pandemic. In this second part, we’re looking at the status quo of SEO agencies and their current business models, introducing another strategic lens to guide our research: Alex Osterwalder’s Business Model Canvas or BMC. A …

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What leading consultants say about the usage of automation in marketing

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30-second summary: As per the CMO Survey Report 2020 by Deloitte, the implementation of AI and machine learning is likely to grow in three years to 3.5. As per an article by McKinsey & Company, organizations introducing technology to sales can find ways that deliver double-digit gains in return-on-investment. Automation is possible in 30% of sales activities. The most recent AI survey by Bain and Company analyzed that organizations that make use of AI were 4.2 times more likely to have access to standard tools and technologies than the others. A study co-sponsored by EY in 2020 revealed that 85% of participants have already implemented AI within their organizations and expect to use AI for new use cases in the coming years. According to a survey by Accenture, around 83% of more than 6,000 businesses accepted that technology is a crucial part of the human experience. As per a recent …

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New study shows digital engagement is key to post-pandemic ecommerce customer retention

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30-second summary: COVID-19 has accelerated consumers’ shift to online shopping around the world, making digital strategy critical to retailer success, both now and in the future Analyzing these behavior trends yields insights about elevated retention risk, the primacy of mobile, shifts in purchase motivation, and in what drives brand affinity The holiday season will see many consumers planning to spend less, and to support local small retailers, so digital marketers must adapt Best-practice marketing strategies are now mission critical: Focus on customer relevance through personalization, seamless cross-channel experiences, and empathetic messaging across the lifecycle, or consumers will move on As the summer winds down, many of us are holding our breath in anticipation of another wave of pandemic-related headlines, guidelines, and obstacles to business as usual. The only thing we seem to be able to count on is change. That’s certainly the case in the retail industry, which has experienced …

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Only one in five marketers have a strategy in place for optimizing their martech stack

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30-second summary: Ascend2’s Martech Stack Optimization survey asked nearly 300 B2B and B2C marketers how are they addressing the challenge of optimizing their martech stack in 2020. 19% of respondents indicated that they’ve implemented a martech stack strategy, while nearly 60% of respondents are currently working on or developing a strategy. Improving marketing efficiency is the top challenge respondents faced, followed by improving revenue attribution. Data analysis, integrations, and real-time processing are key features that marketers look for when implementing an effective martech stack. Nearly 90% of respondents indicated that they either plan to, or will continue to, invest in their martech stack in the coming year. In January, research-based marketing firm, Ascend2, surveyed nearly 300 marketing professionals to assess how they’re addressing the increasing use of different marketing technologies (martech) within their organizations. The survey, conducted during the week of January 13 th , 2020, was answered by a …

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How to Choose The Right Local SEO Agency

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Statista says 52 percent of global internet traffic is mobile . A third of all mobile searches on Google are local. Microsoft says the same thing — 53 percent of mobile searches on Bing have local intent . This is pretty big on its own. Then we see data showing that local searches are growing 50 percent faster than mobile search. This growth is amazing for local businesses, but many companies aren’t prepared to take advantage of this growth. If you have the right local SEO agency, that’s not a problem. Do you know how to choose the right agency? Here are some simple tips you can use to help you choose the right local search agency for your business. Know Your Goals and Desired Outcomes for Local SEO According to a BrightLocal survey , the top local search metrics for businesses were: Google rankings: The better your rankings, the …

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