Commerce is the name of the game in business, and whether a company needs help driving foot traffic, tracking attribution or finding new ways to reach customers online, it should be no surprise that there is a market for third party vendors that can help companies be more efficient and drive revenue in new ways.
Whether this vendor is a daily deal site like Groupon, an online marketplace like Amazon or eBay, a coupon aggregator that helps brands distribute offers, or a CRM platform that helps companies maintain relationships and drive future sales; if there is a need that a third party can solve, chances are that company exists today.
The problem is that each of these vendors probably exists tenfold.
LUMA Partners has become known for their product of LUMAscapes, industry mapping charts that have become synonymous with overabundance in the ad tech industry, and I personally have become very familiar with their Commerce LUMAscape, which contains all of the categories I mentioned above, along with buckets for Exchanges, Storefront/Cart, Social Commerce, Flash Sale Sites and many more.
My company, Sparkfly, currently competes in the Analytics bucket, and as I look out at the wider landscape, what I see is a need for... Read more
Demand for analytics is exploding, with Gartner principal analyst Dan Summer reporting that the business intelligence platform market grew eight percent over the past year to $14.1 billion. Half of new spending is contributing to data discovery, the branch of BI that makes analytics data and reporting available to end users. One of the most practical ways to benefit from tracking business analytics data is to see how sales numbers compare to your marketing efforts, and how each are impacting your ability to increase revenue.
Track Your Marketing Budget
The typical small business marketing budget averages about $2,000, according to a 2012 Staples survey. To effectively utilize such limited resources, it's vital to track the return for every dollar spent. Towards this end, Forbes contributor Dave Lavinsky says that first, you should review your overall financial situation to see what your profit margin leaves available for marketing. The Small Business Administration recommends that companies generating under $5 million annually with profit margins of 10 to 12 percent should assign 7 to 8 percent of revenue to marketing.
Second, decide where to spend your marketing budget, dividing expenditures between brand development and promotion. Finally, track which promotional tactics are working best and prioritize high-performing... Read more
The holiday season is the most important time of the year for retailers, and while many companies pulled out all the stops to ensure they cashed in, there was one key element missing: tracking online and mobile marketing offers and tying them back to in-store purchases.
In a year where initial reports showed a decrease in spending on important days like Black Friday, this missed opportunity to gather intelligence was especially glaring.
So why is this data so important? To start, the digital and physical worlds are increasingly converging, and there are so many marketing channels being used to generate awareness around holiday deals (digital, email, mobile, etc.) that it has become critical that retailers and brands can provide attribution and accurately assess which channels are responsible for driving in-store business.
Additionally, advertisers need to be sure they can connect their digital offers to the basket size of a consumer. A brand like Best Buy may get someone in the door with a deal for a 50 inch TV, but they’re offering that deal with the expectation that the consumer may also buy a Blu-Ray player, some DVDs and a few other items as well. When assessing the effectiveness of the campaign, just... Read more
AdWords spend sucks up a chunk--in many cases, a massive chunk--of many marketers' budgets. PPC, depsite its downfalls, is a quick and relatively cheap way to drive significant amounts of traffic in a hurry. It's also a way for a growing company to appear on page 1 of Google immediately. And, not to mention, appear when and where you want to appear. AdWords is awesome, but how do you take your spend to the next level? What can you do to improve your ROI?
Here are 4 tactics to try:
1) Use Call Tracking to Analyze Which Ads Generate Calls
Are you getting credit for every lead your AdWords campaigns generate? If you're not using call tracking you're not.
Call tracking for PPC allows marketers to track the precise keywords, campaigns, and even ads that are generating phone calls. LogMyCalls uses a tool called Dynamic Number Insertion (DNI) to dynamically display a phone number to a web visitor dependent upon the parameters you set. In other words, different phone numbers can actually appear on the same landing page dependent on the campaign, ad, or keyword. So, for example, if you're A/B testing ad copy for a specfic ad, the people that click on ad... Read more