The Revenue Engine - Drupal Commerce

Post on 23-Jan-2015

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Whilst you read this, another potential customer abandoned a purchase on your (Drupal) web site, never to return. Truth is that all web shops lose more customers than they should.Fortunately, it needn't be that way. But which formulas lead to success? Indeed how do you define success and how is it measured? How do I convince my client it's worth pursuing? Can I address conversion and retention concerns with existing software features?Citing real life examples I will reveal how to achieve the full potential of your e-commerce sites with Drupal. Learn how to:· Tightly integrate your software and Drupal without IT· Use dashboards to make solid, informed marketing decisions· Deploy multi-channel marketing automation to invigorate your sales· Design campaigns to engage and nurture comparison shoppers· Convert more abandoners· Turn failure to opportunity· Extend customer lifetime with personalisation

Transcript of The Revenue Engine - Drupal Commerce

#wwv12pj

Paul Johnson

Head of Development

Social Media Lead – @DrupalCon Europe

Twitter: @pdjohnson ask questions!

Hashtag: #wwv12pj

Email: pj@ltl.uk.com

Web: livelinkNewMedia.com

Who are LiveLink• Drupal Experts• Full service digital agency• 360 digital strategy

• Ecommerce• Email• Social media• SEM

• Software driven marketing solutions

What is it?

Why do I need one?

Identifying failure

What can I do about it?

Typical implementation

Proof, it works!

Questions

The Revenue Engine

Multi-channel marketing platform

Multi-step campaigns

Email

Text / SMS

PDF – Direct Mail

Enterprise CMS

1.7% Internet

Drupal Commerce

Thousands contributed modules

Enterprise CMS

1.7% Internet

Drupal Commerce

Thousands contributed modules

FREE!

What is The Revenue Engine?

Top 1000 internet retailers

http://www.listrak.com/Whitepaper/SCAIR1000/

Too complex

No time

Integration challenges

Client buy in

Cost?

Why aren’t they (YOU) doing it?

PROVEN TECHNOLOGY

PROVEN TECHNOLOGY

TIGHT INTEGRATION

SIMPLE INSTALLATION

EASY!

No IT

READY IN MINUTES

AutoInstall

No IT

TIGHT INTEGRATION

DATA!

Visitor

TIGHT INTEGRATION

DATA!

TimelyRelevant

MessagesVisitor

What does it do?

Converts visitors into customers

Email Automation

Personalised messages

Manage abandoners

Explode sales

Boost loyalty

Increase conversion

What can we track?

User profiling

Every purchase

Basket contents, age, categories

SKU’s

Categories – full tree

RFM

Scoring - Key page visits

Checkout state

MUST have campaigns

Re-engagement

Failed registration

Registered not bought

Abandoned checkout

Bought once

Upsell, cross sell

Profile enrichment

Satisfaction

Anniversary of purchase

BENEFITS

Agencies - Keep your clients longer

Business – Convert and keep more customers

Why The Revenue Engine?

95%

TypicalConversion

How many visits to conversion?

Your site Coupons Email Marketing CPC Social Media

95%

TypicalConversion

Average 3+ visits to conversion

Your site Coupons Email Marketing CPC Social Media

95%

TypicalConversion

Temptation

95%

TypicalConversion

Beware the wandering eye

Comparisonsites

Coupons Email Marketing CPC Social Media

66% Site traffic is NEW

66% Site traffic is NEW

MOST PEOPLENEVER RETURN

ever experienced that terrible feeling of being abandoned?

http://www.listrak.com/Whitepaper/SCAIR1000

ever experienced that terrible feeling of being abandoned?

http://www.listrak.com/Whitepaper/SCAIR1000

75%

ever experienced that terrible feeling of being abandoned?

http://www.listrak.com/Whitepaper/SCAIR1000

75%

GettingWorse!

95%What’s your conversion rate?

?%

Abandon

95%Typical Conversion

5%

Abandon

85%Triggered Emails

Abandon

15%Conversion rates

2nd Only to Direct Traffic

Identifying failure

5%

Where did myvisitors go??

30% Bounced

5%

30% Bounced

5%

Poor landing page?Wrong traffic?

30% Bounced

5%

Comparison / Researching

30% Bounced

5%

Not in buying cycle

Encourage to subscribeEmailSocial MediaRSS

Incentivise subscribesWant offers?CouponsVIP ClubExclusive productsEarly notification

Comparison / Researching

30% Bounced

5%

Comparison / Researching

Site problems

30% Bounced

5%

Comparison / Researching

Site problems

Cost – shipping, goods

30% Bounced

5%

Comparison / Researching

Site problems

Cost – shipping, goods

No time to checkout

Basket Abandonment What went wrong?Can we help?

Comparison shopping?

We’ve reserved your goodsTime is running out

30% Bounced

5%

Comparison / Researching

Site problems

Cost – shipping, goods

No time to checkout

Account problems

30% Bounced

5%

Comparison / Researching

Site problems

Cost – shipping, goods

No time to checkout

Account problems2 Step signupGrab email firstContact abandoners

Failed Login managementAuto email with password retrieve link

30% Bounced

5%

Comparison / Researching

Site problems

Cost – shipping, goods

No time to checkout

Account problems

Checkout

30% Bounced

5%

Comparison / Researching

Site problems

Cost – shipping, goods

No time to checkout

Abandonment Management

3 Steps – increase urgency

15 minCan we help?What went wrong?

1hrComparison shopping?Differentiate!

24 hrIncentivesCoupons

Account problems

Checkout

What can we do about it?

Get connected!

Main Site

GetSocial!

SimpleNavigation

EndorsementsMinimumClicks

Call toaction

Checking out

Isolatedfromsite

OnePage

Checkout

2 StepSign up

Failedlogin watch

Multiplepaymentmethods

One click,we have email

OnePage

Checkout

Basketvisible

OfflineSupport

AddressLookup

MultiplePayment

Typical implementation

Case study

ROI

BEATS

#1REVENUE SOURCE

REVENUE BY SOURCE

29%TOTAL REVENUE

Search

REVENUE BY SOURCE

29%TOTAL REVENUE

13%

Search

Adwords

REVENUE BY SOURCE

29%TOTAL REVENUE

13%

Search

Adwords

14.9%Open Rate

Typical ecommerce email

http://mailchimp.com/resources/research/email-marketing-benchmarks-by-industry/

Abandoned Checkout Management

18% 22%Open Open

29%Open

15 min 1 hour 24 hour

Abandoned Checkout Management

214 33Bailed Bought Conversion

Revenue from failure

3.3%CTR

Typical ecommerce email

http://mailchimp.com/resources/research/email-marketing-benchmarks-by-industry/

38% 42%CTR CTR

10%CTR

SatisfactionSurvey

ProfileEnrichment

PurchaseAnniversary

+

74%Completion

2012 CheckoutConversion

Completion

2010 CheckoutConversion

14.8ROI

Twitter: @pdjohnsonHashtag: #wwv12pj