Mobile E-Commerce Hits All-Time High: New Custora E-Commerce Pulse Report

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The evidence surrounds us, whether it’s commuters immersed in their tablet on the subway, the newly announced Amazon smartphone, or a shopper buying toilet paper on her phone to save a little and avoid the hassle of carrying it home. Mobile computing is doing everything except slowing down. And while these anecdotes add up to something meaningful on their own, we wanted to further explore this mobile shift and learn how it’s impacting the way people shop online.

The resulting research report, the Custora E-Commerce Pulse Mobile Report, is based on The Custora E-Commerce Pulse data from over 100 online retailers, 70 million consumers and $10B in transaction revenue (more about our methodology below). Sign up to the Custora Pulse to receive email updates for our monthly, holiday, and seasonal US e-commerce updates.

 

 

Here are some of the report’s findings, download the full 12-page report below (you can also download the raw data spreadsheet here).

 

1. US mobile e-commerce is a $40 billion market, poised to hit $50 billion in sales in 2014. 

In the past four years, the mobile e-commerce market grew 19-fold: From $2.2 billion in 2010 to $42.8 billion in 2013. This represents 1875% growth over these four years, and 111% 4-year CAGR (Compound Annual Growth Rate). (tweet this stat)

2014 is off to a strong start with $12.2B in mobile e-commerce sales in Q1 alone. It is likely that mobile e-commerce will hit $50B in sales in 2014. (tweet this stat)

us-e-commerce-revenue

Note: These estimates are based on US Department of Commerce figures for total US e-commerce revenue, 2010-2013, and Custora’s estimates for the share of mobile e-commerce.

 

2. More than a third of visits to online stores now come from mobile devices (phones and tablets). 

By the end of Q1 2014, 36.9% of visits to online stores came from mobile devices. That’s up from 3.4% at the beginning of 2010. (tweet this stat)

mobile-e-commerce-visits-over-time

3. Apple dominates e-commerce. For now.

Apple’s mobile supremacy remains but continues to be challenged, most notably by Samsung and more recently, Amazon.
Over the last two years, iPhone’s share of e-commerce orders done on mobile phones went down from 75.1% in 2012 to 50.6% in Q1 2014. Samsung phones have more than quadrupled their share of phone orders over the same time period — growing from 6.9% in 2012 to 30.5% in 2014. (tweet this stat)

iPad still accounts for the biggest share of tablet e-commerce orders, though the share of orders made from Samsung tablets increased from 1.9% in 2012 to 15.3% in Q1 2014. Amazon has also quickly become a player, with purchases made on Kindle Fire tablets now accounting for 4.5% of all tablet orders. This bodes well for the just-announced Amazon Fire Phone – we’ll check back in on that as numbers start to come in. (tweet this stat)

mobile-device-orders-over-time

4. Email Marketing drives mobile purchases – social media doesn’t.

Customers responding to email marketing and shoppers going directly to e-commerce sites (including app traffic) accounted for the highest share of purchases on phones. Email marketing generated 26.7% of sales on mobile phones, compared to only 20.9% on desktop, and 23.1% on tablet.

Social media accounted for only 0.6% of sales on phones and 0.2% on tablets. (tweet this stat)

mobile-device-orders-over-time

small report

Download the Report

Enter your info below to get the full 12 page pdf version of the report with more insights, numbers, and visualizations. You can also download the accompanying raw data set in Excel format here.


 

About The Custora E-Commerce Pulse

The Custora E-Commerce Pulse tracks key US e-commerce statistics and allows any retailer to benchmark their data in real time. The Pulse is based on Custora’s analysis of over 70 million online shoppers and over $10 billion in e-commerce revenue across over 100 US-based online retailers. The Pulse also leverages external data points, such as the US Department of Commerce e-commerce growth figures, to extrapolate growth trends within the Custora data universe to arrive at predictions for the US industry at large.
Pulse research has been featured in The Wall Street Journal, USA Today, Inc., Los Angeles Times, Bloomberg TV, McKinsey Insights, AdAge, eMarketer, San Francisco Chronicle, and many other publications. Pulse data is part of the Bloomberg Professional® Platform. Sign up to the Pulse here.

About Custora and how we can help

Custora provides a customer-centric marketing platform that helps e-commerce teams make customer acquisition and retention programs more profitable. Custora’s software uses advanced statistical models to identify distinct customer segments and predict how customers will behave in the future. This enables e-commerce companies to deliver more relevant and effective communications that promote long-term customer relationships. Custora is proud to work with some of the world’s leading e-commerce retailers, including Guess?, Ann Taylor LOFT, Etsy, Backcountry, Bonobos, Crocs, Wine.com, and One Kings Lane. If you’re interested in learning more about Custora, request a demo here.

Mobile E-Commerce Data: Download Custora’s Mobile E-Commerce Report Data

Mobile e-commerce has exploded over the past four years and the growth isn’t stopping. Smartphone use is rising, fast. Tablet use is rising faster. Apple devices are everywhere. Android and Amazon are making moves.

Here at Custora we wanted to explore the quantitative aspect of these trends – you can read about the findings and download the full Custora E-Commerce Pulse Mobile Report here. Additionally, in the interest of catering to the more data-oriented folks, we also wanted to share more on the methodology behind the report along with a spreadsheet with some of the raw data (available for download below).

The basis of the analysis came from combining data from our customers with the obtain-scrub-explore methods of data science. Many of our hunches were confirmed through the process, but we also found out several surprises along the way, such as the sharp increase in multi-device use.

This report is a product of the Custora E-commerce Pulse, which publishes monthly updates on the state of e-commerce based on data from over 70 million anonymized shoppers and $10B in e-commerce revenue from over 100 online retailers.

Obtaining the Data: Combination of Transaction, Customer, and Web data

The data for the mobile report was obtained from Custora customers who provide us several data sources:

  • Transaction data – including anonymized customer data and detailed transaction data
  • Web analytics data – including mobile device data, conversion data, and marketing channel data

Some of the web analytics data was augmented by pulling in retailers’ data from 3rd party web analytics providers. The data was then combined and aggregated on a customer, device, and order level.

Scrubbing the Data

The next step was scrubbing the data. Several retailers consistently had values that made no sense – hundreds of millions of visits a month, monthly revenue of negative $1 Billion, and other wacky numbers. In those cases we would remove them from the analysis entirely when using one of those metrics. Other errors were more limited, like specific rows with unusual values (such as “time on site” numbers of many hours). Since these were more sporadic in nature, we kept the vast majority of numbers from that retailer, while removing the troublesome rows. The cleaning step also involved light organization of the categorical variables. For example, we combined the various iDevices into a single iOS category and consolidated dozens of “medium” labels into the eight marketing channels we present in the report.

Exploring the Data

We explored the data using a standard pipeline for each of the report’s statistics. Using the dplyr package, we first filtered the date range for the given analysis, as some metric and dimension combinations were not tracked two or three years ago. We converted the data from long format to wide format so each date had a column with the value of the metric of interest for each device or platform. Finally, we summarized over the metric, grouping by either month or quarter. Figures were generated using ggplot2.

Utilizing an external data source required several iterations of scrubbing and validation. However, once that was complete, we were able to cross-examine the general assumptions and intuitions about mobile e-commerce through a qualitative lens and find new avenues for exploration as dictated by the data itself. The final and most interesting step involved deciding which of the many tidbits we found most relevant, and how to present them to our audience. This is where the analysis left the boundaries of pure data science, and we were joined by Custora’s marketing and design teams to formulate the report together.

If you have any questions or thoughts on this report, please comment below or email us at info@custora.com, we love talking shop.

Download the companion spreadsheet for the Custora Pulse E-commerce Mobile Report

Enter your details below to download the spreadsheet (XLS format).

4 Stats Driving Mobile E-Commerce Growth

With the just-announced Amazon Fire Phone, a rumored larger-screen iPhone coming soon, and Google investing $500 million to take its Shopping Express service nationwide, this summer is already full of interesting developments for e-commerce and mobile shopping.

Custora’s upcoming research report, coming out Wednesday July 9th, is a deep dive into the latest trends and stats in mobile e-commerce. The 12-page report is based on The Custora E-Commerce Pulse data from over 100 online retailers, 70 million consumers and $10 billion in transaction revenue

Here’s a sneak peek into some of the report’s most surprising findings; Sign up below to be notified when the report is out.

 

Mobile is Booming

Mobile e-commerce is now a $40 billion market, up from $2 billion in 2010. (tweet this stat) More than a third of visits to online stores now come from mobile devices, up from just 3% in 2010. (tweet this stat)

Email? Yes, Social? No

Email marketing does surprisingly well driving purchases on phones and tablets; social media – not so much. Less than 1% of purchases made on phones and tables originated from social media platforms. (tweet this stat)

Apple leads, but…

iPad reigns with 80% of tablet orders, but Samsung and a little startup called “Amazon” are nibbling away at the Apple with 12% and 4% and of orders respectively as of March 2014. (tweet this stat)

Cross-device shopping is coming

Cross-device shopping isn’t quite here yet. As of Q1 2014, only 12% of online shoppers use more than one device to make purchases — but that’s substantial growth from only 4% in 2012. (tweet this stat)

 
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6 IRCE Sessions to Attend if You’re Into Analytics, Data and Digital Marketing

IRCE – the world’s biggest e-commerce conference – is just around the corner. Team Custora is looking forward to heading out to Chicago next week to meet new and prospective customers, hear about the latest e-commerce trends, and hand out Starbucks gift cards (not necessarily in this order).

Here are the conference sessions we’re most excited about on the intersection of e-commerce marketing, technology, data, and analytics. And if you’d like to discuss any of these topics with us, and see how leading retailers like Etsy, Guess?, Bonobos, Reebok and One Kings Lane use Custora’s analytics platform to improve their marketing programs, just stop by booth 1664 or schedule a meeting.

 

The best IRCE sessions to learn about data, analytics and e-commerce marketing

 

1) Keynote – Connecting with Consumers by Giving Them What They Want

The speaker: Niraj Shah – Chief Executive Officer & Co-Founder, Wayfair.com

Why we’re excited about it: E-commerce mogul Wayfair needs no introduction, having grown from a 2-person startup in 2002 to a near-IPO giant today. In this session, Wayfair’s co-founder and CEO will share how Wayfair builds deep, lasting relationships with their customers, and how customers’ opinions help shape the company’s strategy. We’re especially curious to hear how customers influenced Wayfair’s decision to re-brand and unite hundreds of separate web properties into one brand – wayfair.com.

 

2) Building on Strengths: Why Data Should Change Your Marketing Plan Every Quarter

The speaker: Ryan Bonifacino – Vice President, Digital Strategy, Alex and Ani

Why we’re excited about it: Alex and Ani’s revenue increased 7X (septupled?) after implementing a data-driven strategy for allocating their marketing budget to different marketing channels. Custora is a big proponent of using data to optimize marketing spend (see our guide for optimizing Google AdWords spend using customer lifetime value), so we can’t wait to see what Ryan and the team have been doing.  

 

3) Conversion Drivers: Go Beyond the Like to Make Social Work for Retail

The speakers: Nicolas Franchet – Head of Retail, E-Commerce, Global Vertical Marketing – Facebook, David Atchison – Senior Vice President, Marketing – Zulily

Why we’re excited about it: The combination “social media + e-commerce” isn’t straight forward. Data shows that social media isn’t directly generating e-commerce sales (at least not yet), and online retailers aren’t sure what is the best way to measure the success of their social programs. This session offers expert advice from Facebook and Zulily, and we’re looking forward to hear about smart, ROI-driven ways to incorporate Facebook in a retailer’s marketing tooklit.

 

4) Making sense of all this data

The speakers: Brett Trent – Vice President, E-Commerce – Dress Barn & Maurice’s, Jon Thralow – Partner – Tycoon Venture Partners

Why we’re excited about it: Integrating multiple data sources for rich customer data? Creating a unified view of your customers? Real-world examples from retailers on using customer data to improve marketing? Yes please!

 

5) Finding the Right C-Level Staff to Lead Your Organization into the E-Commerce Everywhere World

The speakers: Bill Mirabito – President – B2C Partners, Cynthia Aherne – CEO – Aherne Executive Search

Why we’re excited about it: The quickly changing landscape of retail has created a need for new skills and domain expertise among retail and e-commerce executives. We’re particularly curious to hear about the characteristics of the new retail CMO: Mobile, social, digital marketing and the ever increasing use of technology are a few examples of what senior leaders now must master.

 

6) Leveraging Loyalty Insights In-Store, Across Channel

The speakers: Mike Hogan – EVP, Strategic Business & Brand Development – GameStop

Why we’re excited about it: Working with retailers like Reebok, Guess?, and Fresh, Custora is witness to the unique opportunities – and challenges –  these omnichannel companies face. GameStop will talk about leveraging online, offline, and mobile loyalty offerings to communicate with its 30 million members wherever they are.

irce

A bit more about Custora

Custora is a customer-centric marketing platform that uses predictive analytics to let retailers get a better understanding of their customers, and figure out better ways to find more of the most valuable ones. Marketing teams use our platform to reduce customer churn, implement automated Lifecycle Marketing programs, and optimize customer acquisition with Customer Lifetime Value analysis.

Learn more about Custora’s customer analytics platform

Drop by our booth anytime if you’re around. However, scheduling a meeting ahead of time would be the best way for us to connect. You can click here to find a time to meet during one of the conference breaks.

 

 

 

 

Kicking Off Summer with IRCE in Chicago

Chicago — home of deep-dish pizza, a great art museum, a very tall building, and a really shiny bean. Team Custora is excited to head there soon (June 10-13) for IRCE, the largest e-commerce conference in the world.

If you’ll be there too and you want to learn about improving your e-commerce marketing, come visit us in booth 1664 to see:

 

  1. How Etsy uses Custora’s software for cutting-edge customer analytics
  2. How Bonobos leveraged Custora’s Predictive Analytics platform to drive a 20% increase in customer spend
  3. The ways that One Kings Lane identified their high value customers and nurtured those relationships more effectively for a 4% increase in revenue
  4. Other winning tactics and strategies from our customers
  5. Where to get the best coffee near IRCE.

 

Featured customers include Etsy, Bonobos, Guess?, and Crocs

A bit more about Custora

Custora is a customer-centric marketing platform that uses predictive analytics to let retailers get a better understanding of their customers, and figure out better ways to find more of the most valuable ones. Marketing teams use our platform to reduce customer churn, implement automated Lifecycle Marketing programs, and optimize customer acquisition with Customer Lifetime Value analysis.

 

Learn more about Custora’s customer analytics platform

Drop by our booth anytime if you’re around. However, scheduling a meeting ahead of time would be the best way for us to connect. You can click here to find a time to meet during one of the conference breaks.

 

SET UP A TIME WITH US AT IRCE

 

 

 

 

 

E-Commerce Springs 13% in April

The Custora Pulse

Spring has sprung for US E-Commerce: Sales were up 13% over April last year.

In contrast, overall US Retail Sales (offline + online) rose only 4.2% in April compared to last year, according to the US Department of Commerce.

E-Commerce revenue was up 13% year over year, transactions were up 13% as well. Average Order Value (AOV) did not change compared to AOV in April 2013. This indicates a stable e-commerce environment that’s growing organically, and is not driven by promotions and discounts.
This is the same growth story we have observed in the first quarter of 2014, recapped in Custora’s Q1 E-Commerce Report.

These data points are from The Custora Pulse‘s latest US E-Commerce data, tracking e-commerce transactions from over 100 US retailers and 70 million shoppers.

 

Mobile E-Commerce: The Growth Continues

Mobile e-commerce continued its strong growth in April, increasing its share of the total e-commerce pie by 35% over 2013: From 14% to 19%. This includes purchases made on both mobile phones (9% of total) and tablets (10% of total).

 

Email Still Rocking— Social? Not So Much

When looking into the marketing channels that drove e-commerce orders in April, Search (organic and paid) continues to dominate, with 40% of total e-commerce orders. Email marketing has grown and drove almost a fifth of e-commerce orders in April – a worthy achievement for a marketing channel that frequently gets ignored or downplayed as “a thing of the past.”
Social media marketing, on the other hand, that often gets touted as “the next big thing” in e-commerce marketing, has not lived up to its potential (yet?). It drove only 2% of e-commerce transactions in April ’14.

US E-Commerce Orders by Channel, April 2014 vs April 2013us e-commerce orders by channel

 

 

More where this came from: Check out the Pulse and sign-up to receive email updates for our holiday, seasonal, and industry performance reports.

 

About Custora and how we can help: Custora provides a customer-centric marketing platform that helps e-commerce teams make customer acquisition and retention programs more profitable. Custora’s software uses advanced statistical models to identify distinct customer segments and predict how customers will behave in the future. This enables e-commerce companies to deliver more relevant and effective communications that promote long-term customer relationships. Custora is proud to work with some of the world’s leading e-commerce retailers, including Etsy, LivingSocial, Bonobos, Crocs, Wine.com, and One Kings Lane. If you’re interested in learning more about Custora, you can request a demo here.

Q1 2014 Pulse US E-Commerce Update: Online retail goes up & Android eats into Apple

Link

We recently published the Custora E-commerce Pulse Report, which found continued e-commerce growth through Q1 2014 (orders are up 13% year over year, and revenue is up 11%). These are solid numbers to start off the year, and we’ll continue to track them at The Custora E-commerce Pulse.

 
E-commerce on the rise

Another interesting takeaway is the increase of online revenue as a share of total retail revenue since 2000. As you can see below, e-commerce’s share has grown substantially from 2000 through the end of last year.

year-over-year

All said, e-commerce grew by 17% in 2013, as opposed to total retail, which increased only 4.2%.

 
Android bites Apple

It’s also worth noting the growth of e-commerce on Android devices versus Apple. Notice in the chart below that orders placed on Android devices have seen an uptick through the first quarter of 2014 versus 2013.

year-over-year

Keep your eyes open for our upcoming Mobile Report that will further explore these sorts of device vs device numbers, along with looking at the rise of mobile over time, and the ways that different platforms impact e-commerce.

We will continue to track e-commerce growth, month-to-month at The Custora E-commerce Pulse where you can also sign up to receive regular email updates.

And If you’d like to download the entire report, just enter your email address below. You will find more insights about channel growth, online vs. offline commerce, and mobile e-commerce increases.

And yep, the whole report is toilet paper themed so you have that to look forward to as well.
 
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8 KPIs Every Customer Centric Marketer Should be Using

It’s no secret that retailers covet the ability to become truly customer centric in every facet of their business — from supply chain to marketing to customer service. For marketers, being able to communicate the right message to the right customer at the right time is critical.

Customer centric marketing allows you to put customers (not categories, channels, or events) at the center of all analysis and decision making, and allows you to internalize that customers each have different behaviors and preferences. And now, thanks to advances in technology, methodology and tools, it’s possible to appeal to each customer as an individual.

However, becoming a customer centric marketing organization takes buy-in on many levels. One of the first, and most important, steps is agreeing on the key performance indicators (KPIs) that your team will use to determine success.

Since you’re looking to become more customer centric, it’s important that you rely on KPIs that compliment your new customer centric marketing efforts. This is not to say that you should stop monitoring marketing metrics that are not customer centric, like sales by product type or revenue generated by marketing channel. But maintaining a customer centric approach requires a shift in view towards how individual customers are behaving over time, and how your organization can maximize the value of every customer relationship.

 

In this article we break out the key KPIs into high-level metrics (Executive Level) that indicate the overall performance of a company’s customer centric marketing strategy, and tactical metrics (Managerial Level) that highlight concrete marketing opportunities.

You can use this as a guide towards implementing some of these metrics yourself. You can also download a handy cheatsheet summarizing these KPIs at the bottom of the page.

 

 

Executive Level KPIs

These give you a high-level view of the health of your customer base.

 

1) Customer Lifetime Value (CLV)
Customer Lifetime Value (CLV) measures how much a customer is going to spend in the store throughout his or her relationship with it. It is the single most important metric for any customer centric organization.

CLV acts as a “weather vane” that indicates whether all that the marketing team is doing — investing across different acquisition channels, putting retention strategies in place to keep customers coming back — is resulting in more meaningful, profitable long-term customer relationships.

 

2) Customer Equity
Customer Equity is the total value of all of the new customer relationships created in a given period. It’s equal to the number of new customers acquired in a given period, multiplied by the CLV of those customers.

Customer Equity provides a broad view of how much customer value your company is creating— and whether you are striking the optimal balance between quantity and quality of new customers acquired.

 

Managerial Level KPIs

 
In order to understand changes in CLV or customer equity— and take action on opportunities from the data— we need to drill into specific acquisition and retention KPIs, which we present here as Managerial Level metrics.

 

3) Acquisition: CLV by Channel
What it is: A view of the CLV of customers acquired across different acquisition channels
What you can do about it: Identify the channels that are bringing in your highest-value customers and consider investing more in these channels, while pulling back investment on channels that are bringing in lower-CLV shoppers.

 

4) Retention: Lifecycle Status Distribution
What it is: A snapshot of where your customers fall within the customer lifecycle status
What you can do about it: If you see significant shifts in the lifecycle status distribution of your customers, dig into additional retention triggers (Early Repeat Rate, Overall Repeat Rate, and Winback Rate) to identify segment-specific retention opportunities.

 

5) Retention: Early Repeat Rate
What it is: What percentage of new customers have made a second purchase by a certain fixed point in time
What you can do about it: Put cultivation triggers in place to educate new customers about your brand and drive repeat purchases.

 

6) Retention: Overall Repeat Rate
What it is: What percentage of repeat customers go on to place another purchase within 60 days of their last order
What you can do about it: Deepen your relationship with customers through a cross-sell strategy to introduce them to new categories based on what they’ve bought in the past.

 

7) Retention: Winback Rate
What it is: The percentage of inactive or lapsed customers in a given period who were “won back” into making a purchase
What you can do about it: Set up winback triggers to re-activate customers as they show signs of slipping away.

 

8) Retention: Leaky Bucket Ratio
What it is: A metric showing the number of customers “lost” in a given period relative to the number of new customers acquired
What you can do about it: Put an effective winback strategy in place to minimize the rate at which customers churn.

 

Moving forward

 
It can seem daunting to embrace a new set of KPIs, especially if your organization already has a host of metrics in place to measure and track the effectiveness of your marketing efforts. But the KPIs outlined above are the single most important source of visibility into how your marketing strategies are creating and retaining customer value.

Placing CLV and Customer Equity front and center in the marketing dashboard — and understanding the impact that acquisition and retention strategies have on these metrics over time — is the first step towards aligning marketing efforts around customer centric marketing principles.

 

Download the Customer Centric Marketing KPIs cheatsheet

Fill in your details to download a cheatsheet summarizing these KPIs.

Q1 2014 Pulse US E-Commerce Update: Double-Digit Growth

The Custora Pulse

2014 is already shaping up to be a strong year for US E-Commerce, with revenue up 11% over Q1 last year, and orders up 13% over the same period last year.

This update is based on The Custora Pulse‘s latest US E-Commerce data, tracking e-commerce transactions from over 100 US retailers and 70 million shoppers.

 

Upwardly, Mobile

Mobile e-commerce continues its strong growth in 2014, increasing its share of the total e-commerce pie by 35% over the first quarter of 2013: From 13.7% to 18.5% of total orders. This includes purchases made on both mobile phones (8.2% of total) and tablets (10.3% of total).

 

Search Drives Over 40% of US E-Commerce 

Almost a quarter (24%) of e-commerce orders in Q1 2014 originated in organic search queries, and a fifth (20%) originated in paid search ads (SEM or CPC). In total, Search – free and paid – drove almost 44% of all e-commerce transactions in the first quarter of the year.
Within search, Google has a big impact on e-commerce as it remains the most popular source for both free and paid search (with almost three quarters of paid search spend), and Android has become the most common mobile platform in the US.
Furthermore, Google is looking to become a bigger force in the e-commerce world on its own. In line with these goals it has launched its own e-commerce initiatives in the past year — like Google Shopping Express (same day delivery in the Bay Area), the Google Glass one day sale on April 15, and a rumored retail shop in development a few blocks away from the Apple store in Manhattan’s SoHo neighborhood.

Custora Pulse - e-commercre Q1 orders by channel

 

Download the Full Report

For a full recap of the first quarter, download our 8-page report. It includes a breakdown of order and revenue growth by month, iOS vs Android share of e-commerce orders, and more.

 

Stay up to date on e-commerce trends

Sign up to the Custora Pulse to receive email updates for our monthly, holiday, and seasonal US e-commerce updates.

 

About Custora and how we can help

Custora provides a customer-centric marketing platform that helps e-commerce teams make customer acquisition and retention programs more profitable. Custora’s software uses advanced statistical models to identify distinct customer segments and predict how customers will behave in the future. This enables e-commerce companies to deliver more relevant and effective communications that promote long-term customer relationships. Custora is proud to work with some of the world’s leading e-commerce retailers, including Etsy, Backcountry, Guess?, Bonobos, Crocs, Wine.com, and One Kings Lane. If you’re interested in learning more about Custora, request a demo here.

 

“How you Manage your Data is how you Manage your Business”

Custora had a fantastic time sponsoring and attending Brand Innovators E-Commerce in NYC on a beautiful, actually-felt-like-spring, spring Thursday.

Here are some highlights from the event:

Omnichannel

Omnichannel was on everyone’s minds yesterday. Jason John (VP Online, Mobile, Social Marketing at Gilt Groupe) presented Gilt’s new TV ads, with their literal takes on “flash sales,” and talked about using Cohort Analysis as one way to measure their effectiveness.

 

Sam Gagliardi (Marketing Director, Digital Shopper Solutions at Reckitt Benckiser) talked about Customer Lifetime Value being key to omnichannel marketing: More specifically, the ability to measure the value of customers acquired from each marketing channel in order to properly allocate budget and resources to each channel. We’re on the same page.

Scott Lux (Vice President, E-Commerce and Multi-Channel, Diesel) presented this slide – an appropriate illustration to “omnichannel marketing” and the shift from a linear buying funnel to a multi touch point customer journey:

omnichannel
That’s quite the slide title, Diesel.

 

Attribution

Another “hot topic”, that goes hand in hand with omnichannel, was attribution. A Google survey was mentioned, highlighting that only 14% of marketers believe Last Click attribution is effective, yet 54% use it. The survey was conducted two years ago, but based on the sentiment yesterday, it sounds like the results still hold.

Catherine Schenquerman (Manager of Customer Experience Marketing, JetBlue Airways) shared a great insight about attribution: While it’s important to get it right, attribution is only one element to consider when thinking about the performance of your various marketing channels. It is equally important to look at which channels bring in better customers, and what is the customer mix – new vs repeat vs lapsed. Another excellent point Catherine made (and others echoed) was that channels shouldn’t be judged solely on conversion and ROI – for example, JetBlue uses various social media channels for customer service. Steve Weinrib (Director, eCommerce, ABC Carpet & Home) talked about using Facebook as a platform for gathering product feedback from customers, and incorporating the feedback into the product roadmap.

 

** The great quote in the title is from Joseph Yakuel, Senior Director of CRM and Digital Marketing, The Vitamin Shoppe.

 

Coming up on our event schedule is Fashion Digital LA – come say hi if you’re attending!

 

About Custora and how we can help: Custora provides a customer-centric marketing platform that helps e-commerce teams make customer acquisition and retention programs more profitable. Custora’s software uses advanced statistical models to identify distinct customer segments and predict how customers will behave in the future. This enables e-commerce companies to deliver more relevant and effective communications that promote long-term customer relationships. Custora is proud to work with some of the world’s leading e-commerce retailers, including Etsy, LivingSocial, Bonobos, Crocs, Wine.com, and One Kings Lane. If you’re interested in learning more about Custora, you can request a demo here.