Chart of the Day: Research shows the importance of social networks to B2C online publishers
It's really interesting to see which digital marketing channels drive the most traffic or sales in different sectors. In retail, this compilation of top online sales channels shows that organic and paid search, email and affiliate channels dominate, with each contributing more than 10%. It's surprising that when using 'last click' attribution the contribution of social media is sub 5%, although this is an average of all categories and we can expect that in some retail categories like fashion, the percentage of sales from social media will be higher.
This research of traffic sources across large publishers who use the Parsely traffic reporting platform shows a very different pattern.
The first chart shows that search (orange) is the largest external traffic source, but with social not far behind (purple). Note that this traffic source breakdown is unusual…
Research gives benchmark of most successful acquisition channels for retail
All retailers should be aware of Custora's Ecommerce Pulse as a benchmarking source. It offers 'real-time' stats on US Ecommerce metrics updated monthly. Data is derived from over 100 million anonymized shoppers using Custora's predictive analytics platform which tracks $40Billion in e-commerce revenue, and 100+ online retailers. It gives data on device popularity, average order and most useful for benchmarking - the most effective acquisition channels indicated by channels driving orders on last click. Here is the latest channel breakdown from October 2016.
Reports can also be downloaded highlighting the latest trends. For example, the most recent notes that:
'Organic search still leads as the largest channel for online customer acquisition. But as more retailers move towards a 'free-to-paid' subscriber model and rely on third parties…
Acquisition cost, lead gen, cost per lead, customer life-time value, ROI... Making sense of customer acquisition metrics
We live in a world of supply and demand, this applies to customer acquisition. Gaining a customer isn’t free, nor is it cheap. It’s a necessary expense when running a business, but it is possible to overspend. It’s important to find a good balance when it comes to customer acquisition, but that’s no easy feat.
It’s difficult to keep costs down because of the competition that’s inherent in any industry. Marketing costs are necessary to beat out the competitors. With so many more demands for customer attention circulating in the modern world, your draw needs to stand out in order to succeed.
Looking at the overall economics of the situation can help with this.
Supply and Demand
The idea of customer acquisition isn’t much different from the way the stock market runs. It’s driven by supply and demand.…
Use these highly actionable tips to give your customer acquisition a huge boost this year
Today, consumers expect brands to have personalities — just like people. They demand that companies break the fourth wall and find ways to authentically connect, whether through personalization or engaging with them in real time at the right moment across channels.
The desire for authentic, personal brand interaction isn’t going anywhere. As you enter the new year, it’s wise to keep in mind the effects this consumer mindset has on your customer acquisition strategy. Here are the five digital marketing trends I see as the most imperative for customer acquisition and growth in 2016.
1. Online video consumption is king.
The 18-to-24 age group is becoming harder and harder to reach through traditional channels such as television. Between the second quarters of 2011 and 2015, television viewing by this age group dropped by nearly eight hours per week.…
Tools for benchmarking and comparing average media mix or traffic sources between websites
Naturally all digital marketers want more (quality) traffic. This begs the question where do we find this traffic? What is our optimal mix of online media?
One approach to answering this question is to turn to the traffic sources report in Google Analytics. Where Google Analytics benchmarking once again presents your mix of referrers relative to others in your category. Your relative performance is shown under the Audience menu accessed via the Benchmarking option like so:
If you're not familiar with these, the four main traffic sources reported at this level in Google Analytics are:
Search traffic – This is separated into natural or organic and paid search (Adwords)
Referral traffic – This is traffic from other sites which have direct links to your site
Direct traffic – Direct traffic results from URL type ins, bookmarks or…
A tool for reviewing the options for online customer acquision and monitoring for social media and other sites
You will have noticed that there's a fair amount of choice online for reaching and interacting with your audience, in fact it's overwhelming! You can't be everywhere, so it's important to prioritise which types of sites and partnerships you invest time and money in to try to gain visibility through outreach, partnering and advertising.
2015 update - introducing the Marketing Bullseye
Since we introduced the Radar in 2010 we have evolved it into the infographic shown below. In this update, we introduce the Marketing Bullseye Framework - a great new tool to review customer acquisition from Traction which has a similar purpose - see the end of the post for a description.
To help you review and prioritise, we developed the "Digital Marketing Radar" which gives a prompt on the different types of…
New research from the DMA compares the effectiveness of online and offline customer acquisition channels
I recently attended the launch of the DMA Customer Acquisition Barometer commissioned by McDowall. This is set to provide a regular benchmark to help marketers compare their approach to customer acquisition. In this post I will highlight some of the most useful findings from the detailed report.
What does customer acquisition mean in 2014?
The video below summarises some qualitative evaluation from marketers showing their views on customer acquisition. The panel, Chris Bibby, Head of Performance Marketing and Wonga, Michelle de Souza, Head of CRM and Customer Insights at Age UK, and the Business Development Director at HP discussed how for customer acquisition investment to be effective it needs to review the long-term impact in terms of lifetime customer value and churn, showing the importance of having the right measures in place.
Best customer acquisition sources
7 must-check questions for your acquisition strategy
All site owners are looking to reach more prospects, existing customers and raise awareness about their products through a website or other online presence. So, there is plenty of advice on how to increase site traffic through the 6 main online communications channels.
Although you can definitely gain improvements in volume of acquisition through optimising how use these channels like SEO, advertising or social media marketing, you may be missing parts of the bigger picture that will make your online marketing more effective.
To help you think through how to improve your site traffic, Dave Chaffey and I have developed these seven key questions to help improve your results. We hope they're helpful - let us know how you find them. You can find more detailed guidance in the Reach section of our RACE digital marketing planning course.
This is the first in a short series…
4 Steps to creating a plan for online customer acquisition
Having a digital marketing strategy for your organisation is essential to ensure your marketing activities are supporting specific marketing objectives. The rise in the number of different digital channels available to target your customer base continues to grow as shown by this BIG list of todays customer acquisition channels by David Sealey, so withough without a sound framework in place to manage, monitor and measure organisation performance, not having a digital communications plan could prove disastrous.
In a previous post, I provided an actionable plan to help create a retention strategy using key digital tactics. Retention by its definition is 'maintaining or preserving your existing customer base loyal to your product offering.
This post will is an introduction to creating an outline framework to create a plan for online customer acquisition techniques - defined as tactics to help drive traffic or generating a lead or purchase…
A case study of marketing for start-ups with low/no budgets
In our current and future enterprises, we all have the duty and obligation to generate new customers for our services or products. To maintain our dream and vision, unfortunately, despite being an absolute truth, the main barrier for start-up companies is the lack of capital for investment. Case studies of how Nike, Sony and McDonalds invest in brand marketing isn't too relevant - although you are also aiming to build your brand! However, facing this financial limitation, we can use online marketing in our favour to take the first steps in overcoming the investment barrier.
Here are some ideas based on our experience of creating an online presence on a shoestring budget.
1. Initial contact to start building contacts
Building initial contacts on an email list is what our initial success was based on. These were our 'Early adopters.' To begin with, we do…