Even the most intelligent marketer can make a terrible marketing decision if this decision is based on a categorical lie. Myths about the e-commerce industry and the marketing that surround it abound. Here are seven ways to help you avoid these pitfalls.
1. “Earnings and benefits are the only key performance indicators that matter”
The early Web marketers tended to be obsessed with indicators that had tenuous or unclear links to business needs, largely because Web marketing was the product of a community of people. individual operations. like rankings and traffic to a table.
As mainstream businesses embraced the Internet and brought Internet marketers into their businesses, marketers needed to relearn some things. After a while, rumor has spread about the importance of justifying decisions based on expected revenues and profits.
Unfortunately, this message of projected earnings and earnings has been so hard hit that it can sometimes obscure the importance of other key performance indicators. Earnings and profits are not the only indicators that indicate the performance of a business, even though they may be one of the most egregious signs of business health.
Here are some other things you should watch out for very closely:
- Conversion rate: What percentage of your visitors end up making a purchase? Think about the differences between conversion rates based on regular visitors or overall traffic. Pay attention to how campaigns, landing pages, session interactions, previous interactions, and traffic sources affect your conversion rates.
- Canal Traffic: This may seem like a remnant of the beginnings of web marketing, but web traffic is important to follow. The dissonance between your traffic figures and your earnings indicates something very different from a situation where you have no traffic or . This is a message that you will not hear if you do not pay attention to traffic and where it comes from.
- Lifetime Value of Assets: How much income does your typical page offer during its lifetime? Which pages are perpetually generating revenue and generating declining revenues? You can not determine the long-term profitability of landing page and content development if you do not do such projections.
2. “Social Media People Do not Buy”
Most of us do not use social media to find everyday products, so it’s easy to dismiss social media as an unprofitable channel, especially when investments are not profitable. at once.
But it would be a mistake to write on social media as a waste of energy. Twenty-six percent of Facebook users who click on ads are shopping, and Facebook has seen a 62% increase in ad spend from one year to the next in 2017, according to Kleiner Perkins.
The benefits of social media are not limited to ad spend. According to a recent report on GetAmbassador’s social customer service, 71% of consumers who have a positive customer service experience on social media with a brand are likely to recommend it to others.
According to a study by Monetate, social media conversion rates are only 0.71%, compared to 1.95% for the search engine and 3.19% for email, but social media is also most important source of reference traffic. up 31.24% of typical site traffic.
As social media visitors are very high in the funnel, it is the visitors who must be fed the longest time before making a purchase, but that does not mean that they can to be neglected without negative effects.
A strong social media strategy allows you to capture the traffic of a very diverse audience and win audiences in front of audiences who otherwise would not discover your brand. It’s an opportunity to generate demand, rather than just taking advantage of it.
Social media marketing strategies generate side effects. Attracting the attention of influencers can send more targeted traffic your way, and the extra attention can ultimately benefit from your visibility in the search engine results pages.
With the right hook, you can also attract social media visitors to your email list, where they are more likely to convert to the future.
3. “No one is using email anymore”
This could be the most dangerous myth currently out there; the fact that email is an old technology does not mean that no one is using it.
The reality is that email is still the default communication tool for connecting with people on the internet. A message on social networks does not necessarily reach your subscribers on your personal account, let alone on a commercial account. Apps and email texts are a more direct way to reach your target recipient, but commercial messages on these platforms are not as easily accepted as email.
In most cases, email is your only direct line to the consumer that consumers are also willing to accept. As long as the email works, the owner of the email address is likely to read most of the subject line of each email received, which is more than what we can say social media feeds. There is no inbox to delete in social media: either you see a post or you do not!
Building lists with email is at the heart of any digital marketing strategy. You died in the water without it.
4. “All marketing efforts take place on my site”
It’s a mistake to consider everything you do on your site “development” and everything else you do “promotion”, especially if you see them as two separate compartmentalized tasks.
Let me clarify that I discuss more clearly the obvious truism that “marketing is integrated with your product”.
Marketing is quite something that happens on your own site, as much as it happens elsewhere. In fact, the strongest brands do as much or more marketing on their own sites as elsewhere, and there are many ways to approach that. For example:
- Split your landing pages twice to maximize sales or conversions.
- Develop lead generation resources such as eBooks and other resources that will help persuade people to join your mailing list.
- Creating landing pages that appropriately target the types of phrases and topics people are looking for when they search for your products and who understand the researcher’s intent enough to convert them to sales or contact.
- Build trust and reciprocity among audiences by using authoritative blog content and lead generation resources that target the right audiences with the right keywords.
- Develop an easy-to-navigate website to allow people to find exactly what they’re looking for.
- Refine your shopping cart and payment system to remove bottlenecks that are causing the cart to go out of business.
These are only a small part of the ways your site plays a vital role in your marketing strategy. If you think you can market your site without making continuous changes to the site, you only have a half-marketing strategy.
5. “The purpose of social media marketing is to become viral”
This myth is so essential to the way many e-commerce sites are trying to promote itself, and it is probably more damaging to the reputation and performance of social media marketing than any other myth about it .
The reason it’s such a problem is that our metaphors are all wrong. The most popular content on the web does not propagate virally as we think, that is, friends of friends share content.
Instead, the research of Sharad Goel and his colleagues, analyzing more than a billion events on Twitter, conclude that the most popular content on the web is the same because 39, it touches “influential nodes” in a network.
The content does not “become viral” because of an exponential effect of resharing, it “becomes viral” when a much smaller number of influential people share it with their many audiences.
According to a recent study on Twitter, 20% of respondents said that a tweet from an influential person influences their decision to share a product recommendation. This number doubles when it is a question of making purchases:
Nearly 40% of Twitter users say they made a purchase following an influencer’s Tweet.
Fortunately, there is another path to exponential growth, but it’s not one that depends so heavily on how your content is sharable. Instead, it relies on the retention of audience.
If you lost 20% of your audience each time you posted content that received a 20% boost from social media, you could spin your tires. It’s a flat growth. But if you manage to keep that total of 20% each time you publish, your audience would grow exponentially.
There are obvious limits to the duration of this kind of growth, but I hope this thought experiment clearly shows where your true priorities lie: reaching new audiences and keeping your existing audience.
As I think social media is actually one of the worst places to reach your audience, remember that social media is a source of traffic that you need to convert to a mailing list, or a other audience. have a more direct line to.
6. “A good product will sell”
Belief in this notion is inversely proportional to the amount of time you have spent at the decision-making level of a company.
This is an excuse for having no marketing strategy, and that puts far too much emphasis on the power of the Internet to communicate ideas while ignoring the # 39, incredible density of information to which people are exposed every day.
As I explained earlier, things just do not become viral as we think. Add to the fact that the typical conversion rates are very low and you start to realize that even if the news on your products became miraculously viral, you would burn your target audience in a day, you would have limited success and you would not have to. had nowhere to go next.
And then it begins to sink in that even something as revolutionary as the iPhone had millions (ultimately billions) of marketing dollars behind it. The simple truth is no, products do not sell. Good products contribute to things like positive reviews and word of mouth, but they do not replace a marketing strategy. The vast majority of your target audience will not even hear from you without an intense effort on your part.
7. “We must reach as many people as possible”
At the bottom of themselves, we all know that traffic is not what we are looking for, but marketers and policy makers tend to do it anyway. That’s why it’s so important to control ourselves and make sure our motives are rational. It might be that it’s good to have a connection with the New York Times, but what are the chances that someone who reads this story becomes a customer?
It’s not that reaching a general audience is a bad thing; This should be part of a brand’s marketing strategy because this type of attention can have a lasting positive impact on your contact list, your networking effects and your rankings in the search engines.
But the bread and butter of a strong marketing strategy always consist in linking supply to demand. It is better not to forget it.
The opinions expressed in this article are those of the invited author and not necessarily Marketing Land. The authors of the staff are listed here.