These tools will help you deliver better market research

Nowadays there is a great variety of different useful tools for market researchers that are free to use. Today you can use such instruments to enhance your business and significantly improve effectiveness of your work. But the wide selection means it is possible to waste your precious time for searching the best instrument among the abundance of useful online tools. To save you time, we have already made a list of the top 10 market research tools. These tools were chosen because of their free access, ease of use and comprehensive capabilities.

1. Google Alerts

Google Alerts is the most popular monitoring tool, and its interface is quite intuitive and easy. All you need is to enter the keywords for…

Does your SaaS business measure these key metrics?

New research from Totango reveals the metrics that are being tracked by most Saas businesses. Their survey of over 300 SaaS businesses found that whilst the vast majority measure basic metrics like churn and web visitors, surprisingly few measure customer retention cost. Retention cost is important for SaaS businesses, because churn rates make a huge difference to long-term profitability. It's good to see 80% of SaaS businesses measuring churn, as this is crucial to long growth, as this post on ideas to reduce SaaS churn shows. Really that figure should be closer to 100%. If you're not measuring churn then your setting yourself up to fail.

For reviewing benchmarks of actual performance there…

Preventing churn is key to improving revenue

For subscription-based businesses like SaaS companies, churn rate is a crucial metric that determines overall performance. Simply put, churn rate is the rate at which customers cut ties with your service during a given period. This percentage gives you a clear idea about your customer retention, which is an important factor defining a company’s success. Looking at the below chart you'll see that the lower the churn rate, the better your business is performing.

Importance of Churn Rate in SAAS

Churn rate is easily one of the most essential metrics when measuring the performance of SaaS businesses. Totango reports that the fastest-growing companies will reduce churn rate less than 5%. For SaaS companies, a…

A case study on growing a startup to a billion dollar company

7 years ago Zalando was just an inspiration; it was born from Robert Gentz'z fascination of the recently sold German startup StudiVZ which fetched €85 million. After a failed attempt of their first startup, Unibicate, a social media site for Universities in Mexico, David Schneider and Robert Gentz, with the backing of Rocket Internet’s Oliver Samwer, launched Zalando. It was a well-executed clone of the US Zappos, which quickly expanded beyond retailing shoes.

Once a novel single-country startup, Zalando has become a 6-Billion-Euro company and Europe’s top Fashion retail platform. In 2008, Zalando served only Germany, five years later they were serving fifteen European countries.

So Zalando gives an excellent…

With the ever changing digital landscape, where do our CMO's see the future of their marketing departments?

The economist recently published their report The path to 2020: Marketers seize the customer experience, which is based on a global survey of 499 CMOs and senior marketing executives, plus in-depth interviews with leading CMOs to research which technologies and customer trends are likely to change marketing organisations.

The research eluded to some interesting trends, the first of which is that it takes into account that all CMO's have some form of strategy and a goal they are trying to achieve. At Smart Insights, we're big advocates of having a strategy in place to help you reach your goals. If you want to do a little further reading on developing your own strategy, have a read of this post.

Launching a brand 'Snapchat Takeover'

Snapchat now has over 130 million daily active users and is growing rapidly. Snapchat is popular with users of 20s and under, so potentially, it's a great way to reach younger consumers as it's offering grows more mature. Top influencers on Snapchat are able to get 300,000-400,000 views on a post on their story.

What is a Snapchat takeover?

A Snapchat takeover allows a brand to reach a large larger audience than would otherwise be possible. It works by a brand letting a popular 'Snapchatter' or other social media influencer/celebrity take over their branded Snapchat for a day or just a few hours. During this time the

During this time, the influencer directs their followers to watch their takeover on the Brand's Snapchat, thus referring a large volume of traffic. It's a novel tactic and has proven effective for the big name brands that have tried it, like McDonalds, Disney and…

Virgin Holidays Case Study: How to use virtual reality to show off your product

Particularly relevant for travel retailers, virtual reality provides an opportunity to showcase their product in a way that was previously impossible. Perhaps it's the best new technology for the sector since the jet engine! This first example shows how can now take your customers under the sea, to the top of mountains and onto the sunniest of beaches without them having to leave the branch, as this 360° video from Qantas shows.

The Virgin Reality initiative

Many travel brands have started experimenting with using VR to let customers 'try before they buy', and have done so by creating 360° videos which viewers can pan around. We've got to admit, they're pretty darn cool, and a lot of fun. But technically, they aren't virtual reality.  Virtual reality means being able to look around the virtual world…

Data from 65 million ecommerce orders shows the crucial sources of traffic for ecommerce websites

Ecommerce and online retail is a booming sector, but because the latest marketing techniques change so rapidly it can be tricky to keep up with the latest trends whilst also keeping your feet on the ground.

In a new report, Yotpo collated data from 65 million ecommerce orders representing $2 billion dollars in transactions over 120,000 ecommerce stores, and established what the industry average is for digital media.

The results make for slightly surprising reading. On the face of things, Social makes up a healthy 6%, but this is still a relatively small slice over the overall pie. Paid makes up 5%, which leaves considerable room for growth, whilst email makes…

Recommended design patterns and best practices for your Basket/Shopping Bag

Here is the 6th in my series of posts on recommended Ecommerce page layouts. We've been working our way down the funnel, so now we move from product pages to improving your Basket or Shopping Bag Page. Given it's the launchpad to checkout, it plays a vital driver in pushing the buyer down the conversion path.

As with checkout, the basket page has to serve two user types:

1. New users: Reduce barriers to purchase and persuade them to trust your brand and website, with their payment. 2. Returning users: Provide a quick transition to check-out, summarising key information which commit buyers to purchase.

If you work in an ecommerce team at a retailer, or are involved in design for your client’s accounts, then I hope these templates and tips will guide you along the design/re-evaluation process to maximise results for your pages.

Key Ecommerce Basket Page Wireframe requirements

There…

Selling to your existing customers is much easier than attracting new ones. So keep them coming back.

Do you want more returning customers? The kind of customers who spend more and visit more often?

Then a loyalty program could be the perfect tool to add to your customer retention arsenal.

Why? You may ask. Let’s start with the most reasonable fact: because it makes you more money. That is, of course, if you do it the right way.

Here’s a quick stat that’s worth remembering: Keeping a current customer costs you 3-10 times less than acquiring a new one, depending on the industry you are in. According to WordStream, small businesses spend between $9,000 and $10,000 trying to attract new customers on Google paid search campaigns in just each month on average. Just image how much more efficient you could be if you could switch that re-activating existing customers and getting repeat…

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