There are few key performance indicators that everyone focuses on for an e-commerce store: conversion rates, average order value and the number of monthly visitors. These metrics translate into money in the bank (or lack thereof).
Each of these KPIs is influenced by a variety of other metrics that causes them to go up or down.
It is important to state that abandonment rates are incredibly site specific. Establishing market standards for them is difficult. Each site, with its customer base and specific audience, will require its unique evaluation and solutions.Read More
If you are a marketer, optimizing for conversions is probably etched in bold in your job description. After all, getting users to complete the desired action on your website – be it clicking on a PPC ad, filling up a form, subscribing to the blog, or making a purchase – is the primary objective. The more efficiently you can drive conversions, the more you end up saving in terms of time, money, and effort.
Needless to say, every little tweak you make to your website to convert a visitor into a customer or a passive user into an active one, …Read More
According to marketing giant Hubspot, 64% of businesses have “established value propositions”.
Done correctly, a value proposition can give your business a huge advantage over your competitors. But, here’s the problem:
Very few businesses have an effective value proposition. As a matter of fact, recent studies confirm: “only 2.2% of companies have useful value propositions.”
This is a huge problem because an ineffective value proposition can make your ideal customers turn to your competitors simply because they don’t immediately understand that you offer what they need.
Furthermore, it’s extremely challenging to distill your company’s services down into one concise sentence. …Read More
When Invesp first launched, Khalid and I, wanted to develop our relevancy within our industry. A great way to do this was through speaking at industry events. You would establish authority and connect with like minds as a result. It was also a chance to further develop as professionals, learning from others and force us to continue seeking cutting edge concepts to put forth during our talks, and implement in our company.
At the time (2006 -2010), digital marketing conferences were still just gaining traction and popularity.Read More
We did it. We have officially made it to the 12-year mark in our business. Yeah sure 12 years isn’t one of those milestones people talk about – it’s usually 10 or 15 years. But since we never did a 10-year anniversary post, we are doing it now.
12 years means a lot of challenges. And with every year we became more resilient overcoming issues that do many business in.
Throughout our many years, I can say this one thing applies to every business out there: there is no single strategy that can lead you to success. But hard work, …Read More
Many marketing concepts and principles we utilize today are from long before the internet was ever around (although there is a debate regarding this matter). What’s important to note, if you are of the old concepts and principles camp, is that those same concepts must be redefined and then applied into our current online marketing strategies. Khalid recently wrote a post about the AIDA model, which is a 1920’s marketing concept. The post demonstrates that old marketing concepts still hold, however, its important to adapt the concepts of pre-online marketing and sales to our ever-changing online arena.Read More
It’s always assumed that having the correct value proposition should be a no brainer. Afterall, what could be so difficult about crafting a 10-word statement that sets you apart from the rest of the competition? But it’s a challenging exercise. How many businesses stick out in your mind with the level of desire you have for the company (products or services they offer); and the exclusivity of what they have to offer?
A quick refresher: What exactly is a value proposition: Value Proposition is the promise of value you deliver by defining the problem you solve and clarifying why you are better than the alternatives. …Read More
Did you know that it costs five times as much to attract a new customer, than to keep an existing one? The first rule of any business is to retain customers and build a loyal relationship with them, and thereby avoid customer acquisition costs. It’s a well-established fact that 44% of companies have a greater focus on customer acquisition vs. 18% that focus on retention. Also, it’s true that only 40% of companies and 30% of agencies have an equal focus on acquisition and retention. Check out our infographic, ‘Customer Acquisition Vs. Retention Costs – Statistics And Trends’ for more …Read More
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