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SwiftERM Predictive personalisation software for ecommerce

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  • David Swift
  • May 22, 2021 08:20:57 AM
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A Little About Us

SwiftERM is predictive personalisation software for ecommerce. It identifies products that are most likely to be purchased for each individual on your database. Analysing buying habits and impressions it calculates what they are most likely to buy next. Then it provokes the purchase by sending the individual details of those products automatically.

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Behavioural economics in ecommerce marketing

The post Behavioural economics in ecommerce marketing appeared first on SwiftERM.

Behavioural economics in ecommerce marketing, is a discipline of knowledge that tries to find answers to questions about our purchasing decisions. To be more precise – why are they irrational sometimes? Of course, such knowledge can be extremely useful for every entrepreneur.

Traditional economics assumes that consumers act rationally, and their decisions have to be, above all, beneficial. However, as you probably suspect, the reality is often different. That’s why there was a need for a discipline that would take a closer look at that interesting matter. And that’s how behavioural economics was born.

According to many studies, customers frequently make irrational decisions, and they depend on many facets. Knowledge of what these facets might be and what can influence purchasing decisions could help you increase sales in your e-commerce company.

What affects consumer decisions?

Here, we need to mention several important elements. As it happens, the first thing that you ought to consider is… your customer’s mood. That’s true; a customer who is happy will more likely buy something from you than one that’s sad or depressed. Frequently, upset people are more eager to analyse all the pros and cons of the offer and are restrained when it comes to spending money.

The decoy effect

The second thing we need to talk about is relativity. In short, it’s all about providing a reference point so that customers can compare products and pick the best offer. That’s what Phil Barden mentions in his “Decoded: The science behind why we buy” book. In it, he cites a straightforward example:

There were four beers on sale, but not simultaneously. When there were just two to choose from – one for 1 pound and the other for 2 pounds, customers more often chose the more expensive one. When a drink for 30p was added to the offer, no one was buying it, but sales of £1 beer increased. When the £4 beer was added to the offer, no one was after the one for £1, but sales of the £2 beer increased significantly.

What does it mean for the ecommerce business owner? That price is something subjective. Sometimes, in order to raise a price of a specific product, you simply need to offer another one with a different price. This way, it will be possible to compare both products and make an informed decision. If one of the products is noticeably better than the other – most customers will choose it. That’s what the decoy effect is all about – if you want to turn your customer’s attention to a specific product, show them a second one that’s less attractive.

Carmakers perfectly know about this rule. To raise the prices of their cars, they create new “supermodels” that are nothing more than just a demonstration of technical possibilities. Such cars are never bestsellers, but that’s not their role. Their role is to enable the manufacturer to bump up the price of their other, more average models and trigger more interest in them.

The decoy effect is clearly visible in the SaaS world. Why do these online platforms usually offer three plans? To promote one plan that’s the most profitable to them. See how it works with Grammarly, an English grammar-checking platform:

 

Behavioural economics in ecommerce marketing

In this example, Premium is the target plan. The Business plan doesn’t offer anything that would simplify using the platform. The biggest qualitative leap is between Free and Premium plans. Give your customers a reference point that’s less profitable than your target product. You will soon see how this one strategy will affect your sales!

The least effort law

Let’s go further. Daniel Kahneman, an American-Israeli psychologist and economist, the author of “Thinking Fast and Slow”, says: If there are several ways of achieving the same goal, people will eventually gravitate to the least demanding course of action”.

Therefore, if something doesn’t require thinking about it, most people won’t. That’s what we call a behavioural cost. It’s not related directly to money, but it involves our time and effort (both physical and intellectual) – they are the things that we pay with to buy a specific product or to use a specific service. The higher the behavioural cost is, the less probable it is that a customer will place an order.

What can you do about that? Streamline the decision. Eliminate all the elements that can make the purchasing process more difficult or complicated. That’s how all the biggest ecommerce websites work. Let’s take a look at Amazon. You enter a given product category, and what can you see? Four best seller offers. For many customers, that’s a suggestion that they are especially worth looking at. And if a given person finds what they are looking for there, what’s the chance they will continue their search and browse through the next one or two hundred offers? It’s rather unlikely, isn’t it?

 

Behavioural economics in ecommerce marketing

APPROPRIATE DATA PRESENTATION

It’s no secret that you can show data in different ways. And frequently, the effectiveness of each of these ways can be different. For instance, if you focus on the cons of a particular product, it’s unlikely you will close many deals, even if the offer itself is good. If, in your product tab, the first thing the customer sees is the information about low availability, they will most likely go elsewhere.

Communicate positive messages – talk about the advantages and benefits behind each product. Of course, we’re not saying here that you should lie or conceal anything. Instead, it would help if you looked for a way to describe the products in your offer that will show its attractiveness. Uniquely if it is immediately pertinent to each individual consumer then the immediate effective is positive too.

Where they have been looking at something and suddenly it appears in an email to them. This has a much higher likely propensity for them to make the purchase and keep it, this is called PPS technology, predictive personalisation software. if you haven’t tried then don’t waste any more time, it is phenomenally powerful for product sales.

The top 50 wines of DWWA 2022
Autonomous email marketing for SMEs
What’s new in email marketing

The post Behavioural economics in ecommerce marketing appeared first on SwiftERM.


The top 50 wines of DWWA 2022

The post The top 50 wines of DWWA 2022 appeared first on SwiftERM.

The top 50 wines of DWWA 2022. The 0.27% of entries awarded Best in Show at this year’s Decanter World Wine Awards reflect the inspiring world of wine and quest for quality among winemakers globally, with 50 wines expressing the best of their categories.

An all-time record for wines tasted at the world’s largest wine competition, it’s quite possible that Decanter World Wine Awards 2022 marks the largest-ever wine competition to be held in history. And of the record-breaking 18,244 wines tasted, just 50 were awarded the competition’s top accolade Best in Show.

‘By the time a wine comes to be considered for Best in Show it’s already come through its panel as a Gold, and it’s come through the second judging week where we find our Platinums. It’s already Gold to Platinum so it’s a super wine’, said DWWA Co-Chair Andrew Jefford.

‘After that, we’re looking for a selection of wines that we really believe are outstanding examples of their style, as well as a well-balanced selection – something from pretty much everywhere, something in pretty much every style, something also for pretty much every budget. And we want to put a lovely selection of those together so that we can offer that to consumers as us saying, this is really the best of the best in our show.’

Value Best in Show

Of the competition’s top 50 wines, nine were awarded top Value wines with a retail value under £15 (prices are confirmed ahead of results being published, but subject to change).

These Value Best in Show wines recognise outstanding quality for price, important to the competition’s unique judging process where wines are categorised by country, region, colour, grape, style, vintage and price point.

The aim is to enable consumers to calibrate what they can actually get ahold of to their own budget, so wines are awarded with quality versus price a factor from Value through to Icon (£50+) wines, ensuing that whether its a Value Best in Show at £14 or Best in Show wine at £60, the wine will be of exceptional quality for its price.

This year Value Best in Show medals were awarded to:

  • Finca Sophenia, Altosur Malbec, Gualtallary, Tupungato, Mendoza, Argentina 2021
  • Morrisons, The Best Gran Montaña Reserve Malbec, Uco Valley, Mendoza, Argentina 2020
  • Pacheco Pereda, Estirpe Organic Fairtrade Cabernet Franc, Agrelo, Luján de Cuyo, Mendoza, Argentina 2021
  • Bisquertt, Crazy Rows Carignan, Maule, Chile 2020
  • Savas, Cuvée Eva, Bordeaux Blanc, France 2020
  • Château Bourdieu, N°1, Blaye Côtes de Bordeaux, Bordeaux, France 2018
  • Mandrarossa, Fiano, Terre Siciliane, Sicily, Italy 2021
  • Bulas Cruz, Diwine, Douro, Portugal 2020
  • Mazas Roble, Toro, Spain 2020

Best in Show highlights

New World wine regions impressed with close to half of the competition’s top accolade awarded to wines from Argentina, Australia, Canada, Chile, New Zealand, South Africa, the UK and the US up more than 50% compared to 2021 results.

But it was France that once again dominated with 10 wines making the top 50 list five of these wines were from Bordeaux, including two Value wines and top marks for Château Haut Breton Larigaudière, Le Créateur, Margaux 2020, Glaude Danivet, Saint-Emilion Grand Cru 2020 and Château Laville, Sauternes 2019.

The top-performing nation also saw a first Best in Show medal for Beaujolais and a win for lesser-known Jurançon in Southwest France for Domaine Cauhapé’s Quintessence du Petit Manseng 2017. The judges praised this wine saying, ‘One sniff of this, with its layers of lemon, frangipane and gardenia, will stop you in your tracks.’

Elsewhere in Europe, Italy was awarded nine Best in Show medals, with Tuscany awarded almost half of these, and Spain close behind with five medals, including a 2011 Catalonian sparkling wine for Albet i Noya’s El Corral Cremat Brut Nature, Penedès 2011.

The judges note: ‘The Catalonian sparkling-wine scene is in full ferment at present, with a huge range of ground-breaking wines finding their way to market. This wine is mouth-filling, dry and structured, as perfumed on the tongue as it is in the glass, and ideally suited not only as a head-turning aperitif but for mealtime use, too.’

 

The top 50 wines of DWWA 2022

By dint of recent entries to DWWA, Switzerland is making a name for itself on the top 50 list with a Best in Show medal for a third year running this year to Domaines Rouvinez’s Coeur de Domaine, Valais 2019.

‘The secret is slowly seeping out that some of Europe’s finest, subtlest, most intricately crafted and most quietly satisfying white wine blends come into being in the Alpine valleys of Valais and elsewhere’ the judges commented, and this remarkable wine is one of them.

Austria also gained top recognition for its white wines with two wines awarded a Best in Show medal for Birgit Eichinger’s Ried Kammerner Lamm 1ötw Grüner Veltliner, Kamptal, Niederösterreich 2020 and Dr Salomon’s Ried Pfaffenberg Riesling 1 Ötw, Kremstal, Niederösterreich 2019.

In Portugal, the Douro region saw success for its powerful reds produced with classic varieties including top marks for an exuberant red table wine and, on the other end of the spectrum, a Vintage Port from the magnificent 2017 vintage for Agri-Roncão’s ‘Dr’.

New World focus

Back in the New World, Argentina and Chile enjoyed standout success with both countries receiving best-ever results for top medals awarded, including four Best in Show wins for Argentina and two for Chile. 

New Zealand, too, saw its best-ever performance in the top 50 list with four wines receiving this prestigious accolade from Marlborough, Hawke’s Bay and Central Otago.

But it was Australia that received the most Best in Show medals from the New World with six wines awarded, including an impressive two to Barossa-based Sons of Eden for both its 2019 Romulus and Remus Old Vine Shiraz wines from Barossa Valley and Eden Valley respectively.

South Africa had its best showing since 2017 with two Best in Show medals awarded to wines from Stellenbosch for Ken Forrester’s Old Vine Reserve Chenin Blanc 2021 and KWV’s The Mentors Cabernet Franc 2019.

Canada, the US and the UK received one Best in Show medal each for classic regional wines of outstanding quality including a Riesling from Niagara Peninsula, Cabernet Sauvignon from Napa Valley and sparkling wine from Hampshire.

Commenting on the results, Co-Chair Ronan Sayburn MS said, ‘These wines have been through a lot of hands, and palates, to get to that level where it’s got a sticker on it – whether that’s a Bronze, a Silver, a Gold, Platinum or Best in Show. A lot of people who work in the wine business, that know a lot about wine, taste these and really give them a thumbs up through many different levels, so if it gets to the point that it’s a Best in Show, it really is the best of the best.’

Co-Chair Michael Hill Smith MW, added ‘The medals are saying: these are wines that have done really well in the most important wine competition in the world.’

See below for the full list of DWWA 2022 Best in Show medal winners. 

Best in Show: The top 50 wines of DWWA 2022

Argentina

  • Bodegas Bianchi, IV Generación Gran Corte, Los Chacayes, Tunuyán, Mendoza 2019
  • Finca Sophenia, Altosur Malbec, Gualtallary, Tupungato, Mendoza 2021 (Value Best in Show)
  • Morrisons, The Best Gran Montaña Reserve Malbec, Uco Valley, Mendoza 2020 (Value Best in Show)
  • Pacheco Pereda, Estirpe Organic Fairtrade Cabernet Franc, Agrelo, Luján de Cuyo, Mendoza 2021 (Value Best in Show)

Australia

  • Deep Woods Estate, Reserve Cabernet Sauvignon, Margaret River, Western Australia 2020
  • Galway Pipe, Rare Tawny Aged 25 Years NV
  • Orlando, Lyndale Chardonnay, Adelaide Hills, South Australia 2019
  • Sons of Eden, Remus Old Vine Shiraz, Eden Valley, South Australia 2019
  • Sons of Eden, Romulus Old Vine Shiraz, Barossa Valley, South Australia 2019
  • Tyrrell’s, Vat 1 Semillon, Hunter Valley, New South Wales 2016

Austria

  • Birgit Eichinger, Ried Kammerner Lamm 1ötw Grüner Veltliner, Kamptal, Niederösterreich 2020
  • Dr Salomon, Ried Pfaffenberg Riesling 1 Ötw, Kremstal, Niederösterreich 2019

Canada

  • Flat Rock Cellars, Nadja’s Vineyard Riesling, Twenty Mile Bench, Ontario – Niagara Peninsula 2019

Chile

  • Bisquertt, Crazy Rows Carignan, Maule 2020 (Value Best in Show)
  • Viña Tarapacá, Gran Reserva Etiqueta Azul, Maipó Valley 2020

France

  • Mont Verrier, La Tonne, Fleurie, Beaujolais 2020
  • Savas, Cuvée Eva, Bordeaux Blanc 2020 (Value Best in Show)
  • Château Bourdieu, N°1, Blaye Côtes de Bordeaux, Bordeaux 2018 (Value Best in Show)
  • Château Haut Breton Larigaudière, Le Créateur, Margaux, Bordeaux 2020
  • Glaude Danivet, Saint-Emilion Grand Cru, Bordeaux 2020
  • Château Laville, Sauternes, Bordeaux 2019
  • Telmont, Blanc de Blancs Extra Brut, Champagne 2012
  • Castelnau, Brut, Champagne 2006
  • Domaine Verzier, Empreinte, Saint-Joseph, Rhône, 2020
  • Domaine Cauhapé, Quintessence du Petit Manseng, Jurançon, Southwest France 2017

Italy

  • Botter, Lapilli, Greco di Tufo, Campania 2021
  • Ciabot Berton, Roggeri, Barolo, Piedmont 2017
  • Chessa, Cagnulari, Isola dei Nuraghi, Sardinia 2020
  • Mandrarossa, Fiano, Terre Siciliane, Sicily 2021 (Value Best in Show)
  • Cipriana, San Martino, Bolgheri Superiore, Tuscany 2018
  • La Palazzetta, Brunello di Montalcino Riserva, Tuscany 2016
  • Riecine, Vigna Gittori, Chianti Classico Gran Selezione, Tuscany 2019
  • Colmano, Riserva, Vin Santo del Chianti, Tuscany 2000
  • Sergio Zenato, Amarone della Valpolicella Classico Riserva, Veneto 2016

New Zealand

  • Church Road, Grand Reserve Chardonnay, Hawke’s Bay 2020
  • Craggy Range, Syrah, Gimblett Gravels, Hawke’s Bay 2020
  • Rimapere, Plot 101 Sauvignon Blanc, Marlborough 2021
  • Valli, Pinot Noir, Bannockburn, Central Otago 2020

Portugal

  • Agri-Roncão, Dr, Vintage, Port 2017
  • Bulas Cruz, Diwine, Douro 2020 (Value Best in Show)

South Africa

  • Ken Forrester, Old Vine Reserve Chenin Blanc, Stellenbosch 2021
  • KWV, The Mentors Cabernet Franc, Stellenbosch 2019

Spain

  • Albet i Noya, El Corral Cremat Brut Nature, Penedès 2011
  • Bodegas Cornelio Dinastía, Imperial Autor, Rioja 2018
  • Mazas Roble, Toro 2020 (Value Best in Show)
  • Hacienda López de Haro, Classica Rosado, Gran Reserva, Rioja 2009
  • Lustau, 30 Years Old V.O.R.S, Palo Cortado, Sherry NV

Switzerland

  • Domaines Rouvinez, Coeur de Domaine, Valais 2019

United Kingdom

  • Coates & Seely, Reserve Brut, Hampshire NV

United States

  • Clos du Val, Hirondelle Vineyard Cabernet Sauvignon, Stags Leap District, California 2019

For more articles on selling wines DTC we have  huge selection here.

Autonomous email marketing for SMEs
What’s new in email marketing
SaaS and subscription models for ecommerce

The post The top 50 wines of DWWA 2022 appeared first on SwiftERM.


Autonomous email marketing for SMEs

The post Autonomous email marketing for SMEs appeared first on SwiftERM.

Autonomous email marketing for SMEs. The day is here, well in fairness it’s been here for a while, but you no longer have to wonder “wouldn’t it be wonderful if there was something I could use that did all my email marketing for me, so I don’t have to touch it, ever”.

Many email software providers will bandy expressions like “You can automate your email using our products”, but closer scrutiny soon reveals its just one or two elements that are automated, and sooner or later you’re back to square one, spending hours getting involved in selecting products, to promote to respective audiences. If not having any time to do email marketing was the problem, you are no further forward. So let’s break this down into the requisite parts to make sure all the boxes are ticked.

Database Building and Nurturing

You need to be able to feed and build your database of customers from a variety of sources including those that shop with you already, plus those that willingly subscribe to your mailing list, whether that by via a homepage pop-up, or other email capture facilities spread across incentives, social-media, competitions etc. It shouldn’t matter whether you have 5,000 or 5 million, it must be able to handle your emailing to each of them equally well. Check.

Note the care to ensure GDPR legal compliance is a provision, but more importantly that those receiving emails want to do so. There’s nothing worse for leaking  customer satisfaction than immediate disengagement, because they don’t want to hear from you. Unsolicited mail perpetuates bad feeling, which permeates among consumers, and therefore their friends and associates, like wildfire.

It needs to be able to offer suppression (opt-out) options, both in bulk and individually to the retailer, for use across alternate media, and likewise ensure the consumer themselves that they have this provision, if only to satisfy their ability to leave should they want.

Personal product selection for each individual consumer

By personalisation we don’t mean segmenting audiences into pre-determined groups that “might” happen to be the best group to buy a new line of products. No, we mean the selection of products that offers each and every individual, products pertinent to what they have bought or looked at, which a predictive analytics algorithm has calculated is the most likely ones for them to buy next. This is a hugely distinct way of nurturing your customer satisfaction, and close personal relationship with each and every one, coming back to whether that be for 5,000 or all 5 million of them.

The statistics for this treatment of email marketing has been calculated by both McKinsey and Statista, and deemed to be as much as 20x the returns currently enjoyed by traditional email marketing ESP, omnichannel and triggered solutions combined. This is where the enterprise people prick their ears up, as this is a whole tranche of marketing that many of them are not yet addressing currently, still believing it is covered by the efforts and solutions offered by their existing providers.

Consider how pertinent to your marketing efforts, the feeling your customers enjoy when they get an email from you, using this software. Because it is a martech solution, that email will always be personal to that individual. It doesn’t matter whether the last time they visited your website was last night or last week, what they looked at was being captured, not just to flog that product, but to rank it in order of highest buying propensity. There’s no point sending details of the last item they looked at, if it doesn’t fit into that individuals buying criteria, a unique pattern personal to each and every one of us, that needs to be learnt. A human can’t do that, but your newly installed software algorithm can.

Truly autonomous solution

 Autonomous, just like the cars of the imminent future will be, your email marketing can be left to run itself.  This type of solution is called predictive personalisation software (PPS). When your business is gathering momentum, and you begin to appreciate the value of email marketing, you commonly fall into the pit of affording staff. We published an article to help you calculate how much do your staff really cost.

You need to be able to check in on your PPS from time to time, to satisfy yourself that it is both running and indeed working well. Once established it’s great just to be able to enjoy building your business knowing this is perpetually running in the background without supervision, or issue. Take your days off with your friends and family, enjoy your holidays and spend your time and effort on other aspects of the business where and when it is needed. This is one box that is now ticked.

SwiftERM offer a free months trial of it’s predictive personal product selection software, and thereafter use without a lock-in requirement. the average ROI regardless of the size of your database is in excess of 1500% ROI. SwiftERM is a Microsoft Partner company.

 

What’s new in email marketing
SaaS and subscription models for ecommerce
The essentials of personalised marketing

The post Autonomous email marketing for SMEs appeared first on SwiftERM.


What’s new in email marketing

The post What’s new in email marketing appeared first on SwiftERM.

What’s new in email marketing. Since the beginnings of email marketing in 1978, the use of this tactic has nothing but skyrocketed over the years. However, by 1998, consumer frustration with spam mail had also skyrocketed, leading email providers to respond by creating junk folders.

In more recent years, marketers have had to navigate regulations like the GDPR, the rules governing marketing efforts in the European Union. The incredible value of the EU market makes it imperative for organizations to conform.

Despite the stress that the GDPR brought to email marketing teams around the world, in the long run, it acts as an advantage by improving the quality of your audience.

The limits on email marketing imposed by the GDPR—like requiring recipients to agree to receive promotional emails—acts as a filter that works in your favor. By targeting the respondents who actually subscribe, your emailing list will become much more effective.

Advantages of email marketing

The benefits of email marketing include:

  • Cost- effective – the costs of email marketing can be much lower than many other forms of marketing. There are no advertising fees, printing or media space costs.
  • Permission-based – your marketing list will be made up of people who have actively chosen to receive email communications from you. Customers who are genuinely interested in your products and/or services are more likely to engage with your business.
  • Flexible design – you can send plain text, graphics or attach files – whichever suits your message best. A choice of design options gives you scope to convey your business branding.
  • Scalable – email marketing can be used to reach large audiences or smaller targeted lists.
  • Personalisation and segmentation – with email marketing you can personalise messages. You can also segment your marketing list, so that your customers receive messages from you that they are interested in – this will help boost their engagement with you.
  • Shareable – it’s easy for people to forward and share your email content, building your reputation by word-of-mouth or viral marketing. This may help influence new customers to become followers of your brand.
  • Conversions and increased sales – if you have a new promotion people can click on links and follow your call-to-action immediately. Email marketing is also effective at every stage of the buying process. For example, you can influence someone to choose your product, nurture the customer relationship post-transaction and also encourage future purchases.
  • Measurable – you can evaluate the success of a campaign by using web analytics software. You can easily test different copy, subject lines and designs to see which is most effective. This allows you to optimise future campaigns.
  • Benchmark – you can compare your results against others in your industry. There are many free email marketing benchmarking reports available – you will find these by searching online. Benchmarking data can help you to evaluate and prioritise improvement opportunities.
  • Test before you send – A/B testing of subject lines, calls-to-action, personalisation, email copy, images or messages ensure your email content is as effective as it can be before you send it.
  • Less intrusive – unlike telephone marketing, recipients can read your message at a time that suits them. Customers can also update their preferences if they would like to receive different messages from you or unsubscribe if they feel they no longer want to receive your email communications.
  • Environmentally-friendly – email marketing is better for the environment than direct marketing by postal mail because nothing is printed.
  • Time-saving – through automation you can trigger emails to be sent to customers based on an action they have performed on your website – eg. send a welcome email when a user signs up to your website, or issue an email offering a discount incentive if user abandons an online shopping cart. Once you have developed a template you can reuse for numerous email campaigns.
  • Real-time marketing – through email marketing you can connect with customers in real-time. Using automated triggers, such as website activity, recent purchase or shopping cart abandonment, you can reach the right audience, at the right time, in the right place and with the right offer.

Disadvantages of email marketing

Some of the potential problems of email marketing include:

  • Spam – commercial email or ‘spam’ irritates consumers. If your messages aren’t targeted to the right people, the recipient may delete your email or unsubscribe. You need to make sure that your email marketing complies with privacy and data protection rules, and that it is properly targeted at people who want to receive it. The ‘click through rate’ for untargeted emails is likely to be very low.
  • Undelivered emails – poorly designed emails may not get delivered. Emails that use certain spam keywords or characters in the subject heading or content of the email, eg £££s, FREE, click here, are likely to be filtered out by email software and internet service providers. If you don’t keep your marketing lists up to date, you will find incorrect email addresses mean your messages won’t reach the right person.
  • Design problems – your email must be designed so that it appears as it should across multiple devices and email providers.  You may encounter a trade-off between design and functionality. Some people opt to receive text-only emails, consider how your message will look if this is the case.
  • Size issues – files need to be small enough to download quickly. Emails containing many images may take too long to load, frustrating your audience and losing their interest.
  • Resources and skills – for a successful email campaign you must ensure that you have the right copy, design and marketing list. If you don’t have the time or skills in-house, consider outsourcing some of these elements.

So what’s new in email marketing?

Personalisation

The perceived image of any professional robust email marketing scenario starts at the bottom with an exhausted individual business owner, scrambling to exist, aware that all the stats have reassured them that email marketing delivers one of if not the highest ROI of every alternative where they spend their money. This of course after establishing their website, and achieved sufficient SEO to get it seen by the search engines and social media alike. The more powerful corporates among us has the alternate perception of a room full of highly skilled marketing minds, eager to eek the next dollar from every audience participant they can.

So the biggest buzz currently is the rise of personalisation, obliterating segmentation in any and all guises. This has become possible by ever greater appreciation of the data being captured online, and how powerful it is in comparison to audience segments determined by antiquated systems. Just how powerful the distinction was quantified by McKinsey and Statista in a variety of reports, concluding in as much as 20x (twenty times) the return from traditional email marketing, triggered, and omnichannel campaigns combined. Putting that into perspective is like offering your company 20x the gross profit for the whole of last year! No wonder the dawning realisation of this prowess is causing shock-waves among traditionalists.

So beware the software that gaslights the truth offered to you, about their solution. Segmentation is not personalisation, it never was nor will ever be. You can’t lump people together because of some nefarious reason and agree they they are the ones most likely to buy a specific product. Instead imagine the ability to have solutions offer you individuals (the ultimate segmented audience #1) that not only have a high prevalence to purchase a specific item, but then actually offers that product to them on the day and time that data offers the highest probability of them making that purchase.

True and Complete Automation

We better make a clear distinction here before we lose you, by automation we mean that no human-being at any stage, has any involvement whatsoever with the process. None! As a pirique test enter “email automation” in Google, and see what comes up.  We’ve done the same. Up come all the usual suspects each saying “You can set up our process to automatic” without pointing out it is only for for such and such an element. And therein lies the rub. If so much data is being analysed from that captured on your site, a human being doesn’t stand a chance of knowing what’s going to deliver the highest returns even if tables are delivered for them. Why? Because it is a moving feast. No sooner have you collected and collated the information than it has changed. You can’t hope to keep up.

Therefore you need a system that not only collects, collates but then implements the solution for you. So new to email marketing is predictive personalisation software (PPS). One such example is offered from Microsoft Partners, SwiftERM the personalisation SaaS. This simple plugin, can be adopted by SME and Enterprise ecommerce retailers alike, delivering the exact product selection for each and every individual consumer at exactly the time they are most likely to buy it. Thereby completing the wheel, and a traunch of marketing is thus addressed completely.

With any PPS software AOV skyrockets, and the consumer only sees products most akin to their current thoughts – i.e. what they looked at last night or even this morning. This is quickly followed in performance as return rates fall through the floor. Who is going to send product back that they want? Plus if they are buying products they want, why on earth would they also buy products they didn’t want? Just to satiate some spurious emotional demand? No, they were searching but not finding, it took an algorithm of each individual’s own personal unique actions to offer them the pinnacle of that search – what they wanted.

This then all culminates in ever greater customer lifetime value, and the natural progression of that, their loyalty. You are going to loose far fewer customers if you only ever offer them what they want. In our own comparison of suppression rates, between PPS and a leading ESP, reduced by 99%. Consider how that would reflect in sales, it’s huge. Let your competitors envy the obvious and enormous warmth and appreciation felt by your consumers over theirs – who, by the way, become easy pickings for those without it.

Summing Up

It should be explicit said about PPS software, that it negates the need for marketing professional to be involved in one element alone – personalisation. By all means complement marketing and promotional offers, segmenting where that requirement is a necessity,  but never forget that the most expensive element in email marketing – employing staff, is a long way shy of being that which delivers the greatest ROI.

 

SaaS and subscription models for ecommerce
The essentials of personalised marketing
The distinction between personalisation and customisation

The post What’s new in email marketing appeared first on SwiftERM.


SaaS and subscription models for ecommerce

The post SaaS and subscription models for ecommerce appeared first on SwiftERM.

SaaS and subscription models for ecommerce. Two current trends in software go hand in hand but aren’t the same: software-as-a-service (SaaS) and subscriptionSaaS refers to how the software is deployed and delivered to the end customer, while subscription refers to how that software is monetised. All too often, however, these two concepts are umped in together. Let’s take a look at how they differ and how they can complement one another.

SaaS Is a Deployment Model

The ways in which software is deployed or delivered to the customer are called deployment models. In the SaaS deployment model, the software supplier chooses to host the software or a major component of the application and provide it as a service to the end customer. The entire burden of running the service – including hosting, maintenance, and updates – is with the supplier; this includes all costs related to hosting and management, increasing the expenses for the supplier. Because of the ongoing costs associated with SaaS, it requires a recurring revenue model.

SaaS is not the same as cloud deployment, though this is another area where terms are often used synonymously – in error. A cloud solution means that the software runs in the cloud, as opposed to in a local data center. Cloud solutions may be managed by the end customer. Other common deployment models include on-premises (where applications are installed locally, often for reasons such as the need for air-gapped environments or requirements for computing power that may make certain workloads not ideally suited to deployment in the cloud) and embedded (where software is installed in hardware or devices).

SaaS is the most rapidly growing deployment model. In a recent report, 59% of respondents indicated that SaaS would grow as a percentage of overall license revenue in the coming 12­ to 18 months. As found in IDC’s Worldwide Software Business Model (Subscription and License) Forecast, 2021–2025, the subscription business model will continue to grow rapidly in the coming years, with a compound annual growth rate (CAGR) “of 17.9% for 2020–2025,” representing “83% of total software revenue by 2025.”

Subscription Is a Monetisation Model

Monetization models are economic models that describe how customers pay for software. A subscription monetization model is tied to the duration of the contract and is usually paid in annual installments. Subscription (also sometimes referred to as term licensing) is a recurring revenue model that results in a steady recurring revenue stream. The stability of subscription monetization depends on the subscription terms and on customer success and retention.

Subscription lends itself well to the SaaS deployment model because the supplier needs a recurring revenue model in order to maintain the service. Subscription is also applicable to and increasingly popular for other deployment models, particularly for on-premises deployment.

Other monetisation models that deliver recurring revenue include outcome-based models (in which customers pay based on measurable value), and usage-based models (in which customers pay based on actual use of software). In contrast, non-recurring or one-time monetisation is also possible through the perpetual (a.k.a. perp) monetisation model. In the perpetual model, buyers pay once for unlimited use of a supplier’s software. This requires a large up-front investment by the buyer, also making it much less valuable to the software company selling it.

Subscription monetisation provides multiple benefits for suppliers and buyers, leading to the strong trend away from perpetual monetisation, toward subscription. This trend is true both for on-premises and SaaS deployments.

  • Subscription benefits software suppliers by growing recurring revenue. Recurring revenue, valued higher than one-time revenue, and is a top goal of many chief financial officers (CFOs). Subscription can help lower the entrance barrier for prospective customers, provide financial stability and resilience, deliver predictable revenues that can fuel ongoing product investment, and ultimately strengthen the company’s valuation.
  • Subscription benefits software buyers by reducing upfront investments in rapidly changing technology, delivering flexibility, and shifting expenses from CapEx to OpEx. Because subscriptions can change as needs change, the result is less risk than with perpetual licenses. A buyer can tune their spend to their usage needs.

 

SaaS and subscription models for ecommerce

Adopting SaaS and Subscription

The SaaS deployment model and the subscription monetisation model may certainly be used together with great results. Adopting these models – individually or in combination, as is increasingly the case – requires clear understanding and analysis of their differences, the needs they meet, and the benefits they deliver for your business initiatives and financial goals.

The essentials of personalised marketing
The distinction between personalisation and customisation
Ecommerce tactics to address inflation

The post SaaS and subscription models for ecommerce appeared first on SwiftERM.


The essentials of personalised marketing

The post The essentials of personalised marketing appeared first on SwiftERM.

The essentials of personalised marketing. Personalisation has changed marketing from the bottom up, improving the customer experience, and, in turn, making businesses more profitable. Yet, many companies continue to fail at implementation. It is important to appreciate the benefits of personalisation to ecommerce. Less appreciative people settle for adding a first name to email subject lines, and believe that the personalisation box is ticked. Some are so confused they don’t even try. So here, we will try toclear up some questions surrounding personalisation, and what it takes to get right.

What is marketing personalisation?

Marketing personalisation or one-to-one marketing, is the practice of using data to deliver brand messages targeted to an individual prospect. This method differs from traditional marketing, which mostly relied on casting a wide net to earn a small number of customers. With billboards, cold calls, segmented emails, and more, traditional marketing emphasised quantity of messages over their relevance. Analytics has become much more sophisticated and data on individual prospects grown exponentially. Today, marketers take advantage of both to deliver prospects the most relevant message at the ideal time.

Why personalised marketing?

If you’re a traditional marketing mind, you may wonder why businesses are out with the old and in with the new. In plain terms, it started with consumers, who, after years of bombardment with irrelevant marketing emails, began tuning out.

They hung up on the telemarketer, they flipped the channel as meaningless ads permeated their lives: in cars, offices, even homes. Soon, they couldn’t escape the feeling that businesses didn’t really want to help solve their problems. Businesses wanted to make money, even if it meant interrupting a family dinner or the Super Bowl. That perception lingers today. Research shows that 63% of consumers are highly annoyed with the way brands continue to blast generic advertising messages repeatedly.

What customers want, instead, is marketing personalisation. According to an Epsilon survey of 1,000 consumers aged 18-64:

  • 80% say they are more likely to do business with a company if it offers personalised experiences.
  • 90% claim they find personalisation appealing.

More than half of consumers even say they’re willing to hand over their personal information, so long as you use it to benefit them. So, how do you use it to benefit them?

Marketing personalisation strategies

It’s not easy to determine the benefits your customers are seeking at any moment. The reason, primarily, is that those specific benefits vary from situation to situation, business to business. However, there are three common strategies that every brand can build of off of to ensure they create a strong personalised marketing plan:

    • Know their needs. Every customer expects you to know their needs. When they punch a long-tail query into your search bar, they expect content that answers it. If they’re shopping in a brick-and-mortar location of yours, they probably want details on a product. At every touchpoint throughout the funnel, ask yourself, “What does the customer want here? What are they looking for?” Or, even better, ask them. Surveys and user testing are an easy way to discover these answers. Some solutions offer comprehensive fulfilment of these needs capturing data from visit navigation and clicks on your site to determine exactly which products have the highest potential to be purchased next by each consumer.
    • Remember who they are and what they’ve done, on any channel or device. On the list of things that frustrates consumers, siloed communication is near the top. If they’ve coordinated a date and time for a demo of your product via phone, and the next day, they get an email aiming for a demo sign-up, that’s a bad user experience. Not only is it annoying, but it has the potential to confuse the prospect. He or she may think: “Did something go wrong? Was my demo canceled? Are they trying to reschedule?” Or, another example: They download an ebook, and later that week, get an email attempting to get them to download that same ebook. Again, this is bad user experience.

Your personalisation strategy should span every device and channel, and your CRM should reflect anything you’ve learned about your prospect along the way. Avoid scenarios like those above, and instead, aim to know exactly what your prospects have done, the kind of messaging they’ve responded to, the type of content they like, their communication preferences, and more.

    • Anticipate their future needs. If you have the advantage of knowing their personal details and browsing behaviour, you have the power to predict what’s coming next. Think of when you book a flight somewhere. Airlines don’t stop after selling you a ticket. They ask if you want travel insurance; they ask if you want to book a hotel room; they ask if you’ll need to rent a car, etc. They know you’re traveling, and they also know the experience is more than just flying. The same goes for your product or service. What add-ons might they need? What upgraded versions might they consider? And this extends before and after the buying stage, too.

If you know they read a lot of your content on social media marketing, send them more content about social media marketing. Send them blog posts, podcasts, ebooks, and tip sheets. If they’ve already bought your product, make them aware of newer versions, bug fixes, use cases that help them take advantage of its full potential. Successful personalisation in the funnel is like playing chess. You have to think several moves ahead.

Benefits of personalised marketing

The preceding are strategies, and when you start perfecting them, tweaking them with more data, your customers start to see the following benefits, which apply to all businesses:

    • They get relevant content. Consumers don’t hate advertising; they hate bad advertising. They hate irrelevant brand messaging. Since personalised content is based on past behaviour, it’s more likely the consumer will respond favourably to its message.
    • They’re reminded of recent browsing history. Remarketing is creepier in theory than in practice. Data has shown that, up to a point, the more you remarket your products, the more likely your prospects are to buy them. The reality is, people are distracted even when they’re buying. Their boss will walk in; they’ll get phone calls. Maybe they realised, at checkout, that they didn’t have as much money in their account they thought. Whatever the reason, remarketing is a good way to combat it. When done right, it’s not annoying or creepy — it’s simply a reminder that says: “Hey, don’t forget, you were looking at this earlier. Maybe you’re ready to buy it now.”
    • They receive valuable suggestions. Consumers don’t just benefit from reminders of products they’ve already seen, but of new ones they may not have realised exist. These could be add-ons, upgraded versions, or related content. Once you’ve anticipated your prospects’ needs, the next step is showing them what they need before they need it, with emails, ads, blog posts, etc.
    • They get information when they need it. Content relevance is crucial, but delivering it at the right time is even more so. Don’t just think “what?” Think “when” too.

On a broad scale, this could be blog posts optimised for popular keyword search terms throughout each stage of the marketing funnel. On a more granular level, it may look like a chat module that allows your business to respond to customer issues immediately. The sooner you make yourself available, the better, research has found. According to a study on lead response time, the chance of converting a lead is 100x greater if contacted within five minutes. The more data you gather, and the deeper you dig, the more you’ll discover what your leads are looking for when they make contact. And once you’ve done that, you can serve them what they need the moment they need it.

The tools for personalisation

The biggest challenge of personalisation is scaling it. Obviously, no matter how many people work in your marketing department, you can’t manually create an email for every customer. You can’t manually create an ad for every prospect. But, you have to maintain that appearance, and that requires the right tools. For starters, here’s what you’ll need:

    • Analytics platform: Analytics platforms aid in the collection of data, which every marketer relies on to create personalised campaigns. As opposed to the self-reported data like name and email address — the “who you are” data — the data collected by most analytics platforms is behavioural. It’s the “what you do” data, which can be even more valuable than the former. Platforms like Google Analytics, Heap Analytics, and Crazy Egg are popular in this category.
    • Data management platform: Data management platforms hold audience and campaign data from sources involved in programmatic ad buying. For marketers, it’s a one-stop location where they can manage user data to create targeted user segments for digital advertising campaigns.

That user data could be, for example, age, household income, browsing habits, purchasing behaviour, demographics, location, device, and more. Then, the DMP can analyze the performance of those segments and assist in the optimisation of future campaigns.

    • Customer relationship management software (CRM): Your CRM is the hub of customer information. Anything you learn about a prospect from lead capture forms, sales calls, or third party data providers should be logged here. When connected with the rest of your marketing stack, it will allow your other tools (like a post-click landing page platform) to feed it prospect information, and, in turn, it can feed that information to an email marketing platform, which will help personalize your emails even further.
    • Post-click landing page platform: Without a post-click solution, it all falls apart. This is your best way to capture prospect data today, so without it, you can kiss personalisation goodbye. It’s also the best tool you have to move customers to the next stage of the funnel.
    • Email marketing platform: Today, email marketing platforms are a staple of every marketing technology stack, as the channel reigns supreme as the number one most profitable for businesses. That’s not surprising, considering email address is a piece of information easily offered up by prospects. Through this channel is how most people prefer to be contacted. And according to recent research, getting emails opened comes down to personalising it.

Consumers say they’re more likely to respond well to an email if it looks like it’s made for them. Dynamic content can accomplish this, as can segmenting, but twenty times less effectively as it is with triggered email solutions too. And it doesn’t even have to be that complicated. If a consumer receives an email that is unique to their own personal relationship with your site, you should appreciate the power this has over the very best alternative, showing them anything else.

Personalised marketing examples

“Personalisation” gets used a lot in blog posts, reports — too much, maybe. It’s become a buzzword with muddled meaning. Some hear it and think name in subject line. Others think it more to do with algorithms so powerful they identify expecting mothers from buying behaviour. Really, the best personalisation lands somewhere between the two. Simply unique to the individual to which your message is being addressed.

Consider this email from footwear retailer Eves and Gray from email personalisation software solution SwiftERM. Addressed to a named individual yes (to satisfy those mentioned earlier) but then less appreciated – at first glance, is that every product in the content is a ranking of highest buying propensity based on both previous buying history and navigation, clicks, lack of clicks, prior email content response etc. If they lookout at it last week and then got this today, it satisfies so many possibilities as to why that purchase didn’t;t go through, especially if this included the previous buying pattern into the consideration by the algorithm.

 

Digital advertising

When creating any form of internet advertising, personalisation is paramount. Internet users respond to relevance and trust. Anything outside of that won’t earn conversions.

To establish relevance and trust through personalisation, every campaign’s ad and post-click landing page must match. That means headline, imagery, logos, and brand colors. Together, these reinforce your brand identity and assure visitors that they’re in the right place while delivering what was promised in the advertisement.

Email

Today, businesses can work marketing magic with email. Messages via this channel are non-invasive, they’re easily consumable, and they’re also highly customisable. Using dynamic content, email subscribers can receive offers uniquely tailored to their demographics, psychographics, firmographics and behaviour. Here’s a great example of dynamic content from Sephora, which has this particular campaign set to deliver one email if the recipient has spent more than $200, and another if they don’t.

 

Social media

While it was once one-way photo and text-blasting to followers, social media has become highly personalised. Likely, you’re familiar with Facebook’s “trending” bar, which is tailored to the behaviour of prospects. Its Meta Pixel is also one of the most powerful retargeting tools in marketing. Implanting it on the back-end of a web page allows marketers to target people on Facebook who didn’t convert.

Other examples of increasing personalisation are Snapchat’s geofilters and games, Twitter accounts dedicated to individualised customer support, and recently, Instagram’s newest emoji slider feature, which allows account holders to poll their followers. In that poll (pictured below), the emoji can be slid from left to right to indicate how strongly a user agrees or disagrees. That information can then be used for more personalized content in the future.

 

Start implementing your own personalised marketing

McKinsey research shows personalisation reduces acquisition costs as much as 50%, lifts revenues by 5-15%, and increases the efficiency of marketing spend by 10-30%. On the flipside:

Understand the motivation behind personalisation and take a trial with SwiftERM, the most robust post-click automation SaaS available for your platform. It can be used as either a stand-alone email facility for SMEs or used by Enterprise retailers to complement their existing ESP for massive amounts of otherwise lost opportunity.

The distinction between personalisation and customisation
Ecommerce tactics to address inflation
Wine marketing keeping it personal

The post The essentials of personalised marketing appeared first on SwiftERM.


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