Top 4 Ecommerce Benchmarks YOU need to know

Let’s be honest we all want to know how well the shop, restaurant, or bar next door is performing? So here are all your E-commerce benchmarks.  From email KPIs to cost per acquisition, see how you stack up!

1. EMAIL PERFORMANCE 

By 2022, Over 347 Billion emails will be sent every day.  Your email channel is one of the highest performing, most cost-effective with the biggest return on investment. 

According to Campaign Monitor, the average email benchmarks for all industries are:

  • Average open rate: 21.5%
  • Average click-through rate: 2.3%
  • Average unsubscribe rate: 0.1%
  • Overall conversion rate: 2.2%

The brands I work with that are outperforming these targets do the following;

1. Use thought-provoking headlines, “Must-haves this Summer”, “Top 5 reasons to…”  

2. Make Call to Actions really clear, not having a clear Buy Button on your email is like a meeting with no agenda, action items, or purpose… a waste of time.

3. A/B split test your email campaigns so you can see which copy and headlines attract more open rates; it can increase your email marketing ROI by as much as 37%. Here’s one I prepared earlier……

2. ABANDON CART RATES

You spend all that time and money trying to get customers to your cart and then, according to Baymard research 69.57% will abandon it. The main reasons people leave your cart are;  extra costs (shipping, taxes, fees), the checkout process is too long or too complicated, or no guest checkout. To reduce the leakage; 

  • Test your user experience make sure it’s quick, easy and straightforward– use autofill and only ask them the necessary fields needed at cart (2-3 things). 
  • Implement an abandon cart series- this allows the customer to have another chance to purchase that product as they are busy and have a million things to do.  
3. SOCIAL MEDIA SALES 
  • Engagement rate per post  –  0.08%
  • Overall social media conversion rates – 1.0%

If you compare overall social conversion rates to email rates, you can see why building your own database (first-party data) is much more lucrative. Stalking tip:  you can check your competitor’s or other brands’ ads by going on their Facebook page, clicking page transparency, and then ad library. 

Cost per acquisition (CPA): The average CPA – the cost to acquire a paying customer for Facebook ads across all industries is $18.68. If not tracked properly these costs can escalate and erode your profit margin.  The trick is to work out what you can afford to pay and keep your budget capped.

4. CONVERSION RATE 

For me, this is the most important metric (after customer happiness of course) currently across the brands that I work with it’s sitting at around 2%.  According to Smart Insights the UK is sitting at 4%, so there is a lot money being left on the table.

VALENTINES DAY INSPO 

Good luck with your valentines day campaigns, if you are looking for Valentines Day email inspo check out Really Good Emails 

HOW TO SMASH YOUR TARGETS 
The best way to grow digital is to know digital.  If you have committed to a year of growth in 2022 and want to know more about my 6-week program (kicking off on the 15th of Feb), you will be joining some amazing retailers and hospitality providers. 

Key Trends for 2022 | Digital Soup

Each year a bunch of experts make predictions for the year ahead – some data-based, some just made up.  But for those of you that know me, you know I am a total data geek, so last year I worked with Elisa Choy – the founder of Maven Data – to analyse the significant trends for 2022.  Elisa is one of those people, so smart, that I secretly use Google to translate after speaking with her.

The report analysed PETABYTES of data, from the world’s online content using A.I open sources to determine what customers want, what they are saying, what investors are focusing on and what companies are building.  We tested 25 trends and can predict which trends will move the market in the next 12 months.. (if you would like an overview of the report please email me). Here are my top three outtakes for 2022, based on the key areas that will grow your revenue

1. Live Shopping Goes Global.

Rose Keen, Econsultancy:

“Up until now, live commerce has struggled to gain a foothold outside of Asia. This appears to be changing with shifts in consumer behaviour and the arrival of new technologies and specifically social media app functionality supporting its wider adoption.

“The coming year will likely see more brands experimenting with live commerce as part of an omnichannel strategy. One interesting trend is the leveraging of internal talent as Livestream hosts.”

2. Personalisation REPEAT 

I talk about this every year and each year we move a little closer towards it. As someone who has developed a personalised AI shopping platform, Shop You, and someone that passionately believes that we are all unique individuals (not algorithms) and digital should respond to you, not the other way around, I believe we will see a huge shift in personalisation this year.

The challenge has always been data and with Google making changes, first-party data (customer data collected by you) will become even more important.

With data comes insights, and with insights comes the ability to provide deeper personalisation. SO in 2022 think about the data you are collecting; how can you ensure that it’s not just about the first name and email address.  As you collect data, ensure you are providing value in return and constantly ask you and your team the question – what’s in it for them?

3. Click and Collect 

Click & Collect Graph- Trends for 2022

According to Insider Intelligence, Walmart generated $20.4 billion in sales through click and collect last year. As you can see in the chart, Australia continued to grow. There are a few reasons why we love to click and collect so much, mainly around speed, cost, and convenience. Retailers that don’t have click and collect functionality will be passed over for retailers that do. Therefore, Click & Collect is going to be big part trends for 2022.

And now for the real experts…

As school holidays come to an end, I am juggling the children and work, oh… and that never-ending feeling of guilt I am currently sitting writing this while at the Sushi Train with my boys, so I asked them for their predictions/ trends for 2022:

1. Covid is going to end.

That is the best prediction I have heard so far this year!

2. Shops will launch on the metaverse.

If you haven’t read my article, here it is.

3. The government will develop a fund for reopening small businesses.

Digitally educating SMEs is something I am extremely passionate about and I believe that government bodies need to invest in digital education to create sustainable growth in retail

Metaverse- Trends for 2022

The best way to grow digital is to know digital.  If you have committed to a year of growth  and want to know more about my 6 week program (kicking off on the 15th of Feb), you will be joining some amazing retailers and hospitality providers.  Click HERE to discover more!

The Metaverse for Retail

The Metaverse for Retail

The Metaverse for Retail

I must admit I was equal parts scared and equal parts excited when I watched Mark Zuckerberg announcement of The Metaverse – a new reality network, pairing physical and digital.

Scared because I have two boys that really don’t require any encouragement to spend more time in a  virtual world. Excited because as a Retail Futurist, this is exactly the platform that is required to evolve retail for the next generation. Think of the train tracks that made the steam engine possible; the network that carried the signal for the telephone; the electricity that enabled the lightbulb. I believe that this is a defining moment in retail that we are yet to realise.

Online retail is still living in the dark ages, rewind 30 years; online retail evolved from catalogues. Catalogues you had to trawl through 1000s of products in one big paper book to find the product that was right for you.

Flipping through an Argos Catalogue

We digitised the catalogue and transferred it onto the screen back in the early 90s and voila, digital catalogues were born or what we now call Ecommerce sites.

Fast forward nearly 30 years and we are still flipping through hundreds of pages of digital catalogues, granted with a level of intelligent categorisation and search, but still a catalogue on your screen.

Virtual reality or augmented reality shopping platforms have managed to get some air, but nothing has really had a significant impact. Usually, virtual reality or augmented reality experiences are just a replica of the physical store experience. Again, at which point did anyone say “I love the supermarket so much I would like to see the exact experience replicated on my phone?” Providing the ability to walk up and down aisles virtually isn’t going to revolutionise the shopping experience.

When you look at the conversion rate online for eCommerce stores globally, it sits at around 2%. In-store, the average conversion rate is 20 – 30%. This is the metric that shows us how far we still need to go and how wrong we are getting this digital stuff.

The metaverse is our chance to get this online shopping thing right and add real value to customers.

Gaming

Having two boys who game (probably a bit more than they should) I watch with intrigue at how they run around, pick things up, compete and purchase skins to personalise their journey.

Gaming will become a major sales platform for retailers. One where real-world goods and digital goods are bought, gifted and exchanged. Collabs such as Fortnite and Nike have already set the foundations.  When you can see the latest pair of Nike kicks on your enemy and play to win them, or buy that dress that you saw in the window of a store as you run past while trying to shoot someone with your diamond-encrusted shotgun; this is the next evolution. Connecting payments, providing a platform for retailers to upload products, one-click purchases and ultimately making it seamless for the customer will drive sales.

Home

“Imagine you put on your glasses or headset, and you’re instantly in your home space. It has parts of your physical home recreated virtually, it has things that are only possible virtually, and it has an incredibly inspiring view of whatever you find most beautiful.” This is Mark Zuckerberg’s vision.

The Metaverse gives us the ability to place a piece of art in our digital home to see what it looks like and then buy it in a virtual world for our physical space MIND BLOWN!. Style your house and your garden, reconfigure it and then purchase every product in it.

As you purchase the products, they are automatically added to your virtual house.

Fashion

This is where I really lose my mind. Stay with me – I am in my Metaverse and I invite my stylist, “Rachel Zoe” of course, to join me in my wardrobe. She goes through my real-world wardrobe in my virtual world and advises me on what suits me, what to cull and gives me tips on colours and fit.   I can click on what she is wearing and with one-click purchase her whole outfit…

Meta knows my measurements, my body shape and my preferences so can tell me if it’s right for me.

The Metaverse will give brands the ability to create stores, but these aren’t the traditional four walls that we associate with retail; these are endless stores that are seamlessly integrated into my metaverse – think content placement rather than product catalogues.

I can head to that beach in the Maldives and buy a bikini that the girl sat next to me is wearing OR to an Indian Temple and buy a culturally appropriate outfit for my upcoming real-world trip.  I can pre-check in at a virtual barbeque to see what the dress code is? Think Pinterest in real life but in virtual life and then transferred back into real life.

A world where I can buy digital or physical outfits, so for my next virtual work meeting I can wear that Prada top (whilst still wearing my ugg boots and pyjamas in the real world)

Ok, I admit, I have thought way too much about this!

For brands, they will have a far greater ability to test products, ideas, and to pre-sell items. I believe this will have a positive impact on the environment, reducing waste and landfill (reducing the amount of shit we buy that we don’t actually want or need).

Mark Zuckerberg believes that “Within the next decade, the metaverse will reach a billion people, host hundreds of billions of dollars in digital commerce and support jobs for millions of creators and developers,”

I believe the Shopping Metaverse is only limited by our imagination…..

Setting up ‘Click and Collect’ in Shopify

Click and Collect

How to set up ‘Click and Collect’ in Shopify.

Click and Collect is a popular ecommerce option for retailers and customers. As shoppers demand faster, more convenient access to products, click and collect is fast becoming mandatory for retailers. Shoppers purchase items online and pick them up in-store or at a chosen collection point. Store employees gather and prepare the products for pickup and notify the customer when it is ready. Shoppers will then stop by the specified collection point with their proof of order confirmation and collect their items.

This service is also known as BOPIS, Curbside Collection, order and collect or ordering for pickup. Generally click and collect is free but in the US, some retailers charge for fast, drive by click and collect services.

How to set up click and collect

First, log in to your Shopify account.

Go to settings at the bottom right and click on Location. Here you can edit the location of the pickup. Make sure the box that says ‘fulfill online orders from this location’ is ticked. You can add more than one location and select which areas that offer click and collect.

Next, go back to settings and click on ‘Shipping and Delivery’. Scroll down to ‘Local Pickup’ and click manage. Tick the box in the Location Status section. Select the expected pickup time: 1 hour, 2 hours, 4 hours, 24 hours, 2 – 4 days or 5+ days.

Write down any pickup instructions and messages for the customers. For example, any COVID restrictions and guidelines that customers should follow. Such as wearing masks and no more than x amount of people in the store. You can add in your store’s opening hours so that customers cannot come to collect outside of those hours.

Finally, click ‘Save’ at the top right and you should be good to go. Make sure to test it out to see if everything is working and the details are all correct. 

If you need help, you can know more at Shopify Help Center or contact Kelly.

Kelly Slessor is an Ecommerce coach and digital marketing expert passionate about helping retailers grow. As a thought leader, strategist and speaker, she has worked with world-leading companies. Companies include Westfields, Woolworths, Big W, Sainsbury’s, Gluestore and small independent brands and restaurants. 

Best Ecommerce Platform 2021

ecommerce website

This video was posted on YouTube. Kelly Slessor reviews the Best Ecommerce Platform for small businesses. Kelly Slessor is an Ecommerce coach and digital marketing expert passionate about helping retailers and small businesses grow online.

What is an Ecommerce Platform?

An ecommerce platform is a software program that allows businesses to manage their operations online, such as website, marketing and sales. Ecommerce platforms enable you to develop your business without any specific skills. These platforms have many powerful ecommerce functions to make setting up your business online as easy and successful as possible.

There are over 300 ecommerce platforms. Choosing the best ecommerce platform for your business can be a difficult decision. There is no perfect ecommerce platform. The best ecommerce platform is one that will successfully deliver the outcomes and objectives you set for your business. It’s also based on what your business needs. For small businesses looking to sell online, below are the top platforms.

The best ecommerce platforms

Here are the 6 top ecommerce platforms for small businesses. These are some of the most user-friendly and affordable solutions.

  • Shopify – best for startups and beginners
  • Wix – easiest to learn and build
  • BigCommerce – top enterprise solution; best for large-volume sellers and multichannel selling
  • WooCommerce – best WordPress ecommerce option
  • SquareSpace – simple, beautiful and minimalist templates
  • Weebly – ideal for brick & mortar/online stores; easy and cheap all-in-one option
Shopify

Shopify is among the most common and popular ecommerce platforms. This platform is rated highly and reviewed as excellent. Many small businesses use this platform because it is designed for niche markets. It’s an all-in-one platform that has many features to help build your online store. Shopify is one of the most recommended ecommerce platforms for anyone who is starting. However, the cost is not cheap. Considering all the costs, this is one of the more expensive options for small businesses.

Price: Free trial for 14 days; Basic plan from USD 29 per month, package that offers the most starts at USD 299 per month.

4.7/5

“Shopify is better than any other platform we’ve played with, and we’ve played with them all.” – Johnathon Bayme, CEO of Theory11.

“We’ve been able to build something in 3 years that a lot of brands haven’t actually gotten to in 10 years.” – Chioma, Cee Cee’s Closet NYC.

Wix

If you’re looking to build a complete website with an online store but don’t want the whole package, Wix is the way to go. This platform is the best overall website builder for small businesses. It’s straightforward to use and gives you total creative control. In addition, it’s a powerful site builder as it doesn’t skip out on ecommerce features. Such as order tracking, automated sales tax and abandoned cart recovery. Unfortunately, since it’s a website builder, it doesn’t have as many powerful ecommerce features as Shopify. For example, you can’t sell across multiple channels.

Price: USD 18 per month; the most advanced plan starts at USD 38 per month.

4.4/5

“Wix offers an excellent drag-and-drop site builder to create small websites. There are 100s of free templates available. Wix provides its own web hosting as well as domain names (free and paid). The App Market makes it easy to add extra functionality such as photo galleries or ecommerce.” – Armin Pinggera, Tech Guru at WebsiteToolTester.

BigCommerce

Given the name, this platform is mainly for big enterprises like Microsoft and Toyota. It takes the same functionality as other platforms and scales it up for complex stores and massive traffic. BigCommerce lets you to connect over 400 additional tools and platforms for your ecommerce needs. Through this website platform, you can sell on multiple platforms such as eBay, Amazon and Facebook. This platform is ideal for scaling your business. The downside is that it can get expensive quite quickly, and there is a steep learning curve. It is not beginner-friendly.

Price: USD 29.95 per month; Pro plan starts from 299.95 USD per month. If you pay annually, you can get a 10% discount.

4.6/5

“On BigCommerce, we are saving a significant amount of money on development and overall platform costs. More importantly, we now have an extremely agile environment that can change quickly to meet our business needs.” – Mark Hopkins, Chief Information Officer of Skullcandy.

“When mapping out our growth, we felt that BigCommerce was going to be much more customisable than other platforms and set us up for massive growth.” – Antonio Kaleb, Ecommerce Architect of LARQ.

WooCommerce

WooCoomerce is a free WordPress plugin. It’s easy and quick to set up, and it comes with many ready-to-go features. However, this software requires you to have a WordPress site. WooCoomerce allows you to transform your WordPress website into a functional ecommerce store. The great thing about WooCoomerce is that everything is customisable, even the costs. Additional extensions and features will require some payment. 

Price: Free; for additional extensions and features, it costs from USD 29 per month.

4.4/5

“No other ecommerce platform allows people to start for free and grow their store as their business grows. More importantly, WooCommerce doesn’t charge you a portion of your profits as your business grows.” – Chris Lema, chrislema.com.

“WooCommerce’s greatest strength is its extensibility. There’s very little I can’t build with WooCommerce. Given enough time and resources, WooCommerce can finely be tailored to even your store’s most niche feature.” – Kathy Darling, kathyisawesome.com.

Squarespace

If you want more creative control, Squarespace is the platform for you. In addition, Squarespace works well for stores that don’t have a lot of products. If you’re looking for a simple and affordable website platform, Squarespace has it all. Squarespace is best known for its most beautiful and simple templates with stunning imagery. Pricing is relatively low and affordable. To be able to sell products on your site, you need to be on a Business Plan. However, there is a 3% transactional fee. To avoid this fee, you have to subscribe to either the Basic Commerce plan or the Advanced Commerce plan.

Price: AUD 35 per month; the Advanced plan starts from AUD 61 per month.

4.2/5

“Squarespace has a better blogging tool and better support than most competitors. They offer 100+ flexible templates that fully adapt to mobile devices. While it’s been massively improved in recent updates, getting used to the platform can take a while due to a few usability issues.” – Robert Brandl, Founder of WebsiteToolTester.

Weebly

Weebly is a popular choice for budding small businesses looking to set up their own online business without prior experience. It’s beginner-friendly and budget-friendly. In addition, Weebly offers the essential tools needed for a functional store without all those flashy extra bits that might confuse you. Users can create a free plan if they don’t require a custom domain. Weebly gives a streamlined user interface that beginners can use without any problems. Since it’s much cheaper than other platforms, there are some limitations. For example, you cannot sell across multiple channels, limited customisation and weak SEO support.

Price: Free if no custom domain; AUD 7 per month (billed annually); the Performance plan costs AUD 30 per month (billed annually). 

4/5

“Weebly isn’t as flexible as Wix and it isn’t as sophisticated as Squarespace, but it’s easier to use than both. What sets Weebly apart from its competitors is its simple, clear interface.” – Steve Benjamins, Founder of Site Builder Report.

Other ecommerce platforms

The above platforms may not be for everyone. However, there are more options available. These can include:

  • Ecwid – all-in-one platform, free plan available
  • GoDaddy – quick to set up
  • Big Cartel – mainly for artists and other creatives
  • Volusion – good inventory features and analytics, but expensive
  • Magento – expensive, but most expandable; most suited for larger businesses
Ecommerce Platforms

The Future of Retail Sky News Weekend Edition

Future of Retail Sky News

Shop You ‘virtual mall’ to connect people to physical stores – The Future of Retail Sky News Australia Kelly Slessor

This video was originally published on Sky News. In the Future of Retail Sky News Weekend Edition.  Kelly Slessor talks with Jaynie Seal and Tim Gilbert about the future of retail and the impact on local retailers.

Virtual shopping is the future of retail. Digital growth expert Kelly Slessor, CEO of Shop You, discusses enhancing the shopping experience.  She shares insights on personalised shopping and the importance of connection to a physical store. 

“We’ve under invested in, as a result,  our retailers failing in an omni-channel environment. If we look to the UK, 30% of retail sales are now done online. In Australia 12% to 13% of retail sales are done online, so there’s big growth coming, but retailers are not prepared for it.  We do have time to prepare for the change but we need government initiatives, to help activate not only the big retailers,  but also the small businesses.

Shop You is a mobile shopping app that uses artificial intelligence to boost customers’ virtual shopping experience by matching them to brands and styles. “It knows you… It presents things to you based on your personal attributes and the brands you love”. Shop You provides a seamless customer journey of connection from an online store to a physical store.

For further information feel free to contact Kelly Slessor.

Kelly Slessor The Future of Retail Sky News

Kelly Slessor is an Ecommerce Coach and a digital marketing expert passionate about helping retailers grow.  As a thought leader, strategist and speaker she has worked with world leading companies.  Companies include Westfields, Woolworths, Big W, Sainsburys, Gluestore and small independent brands and restaurants.

How to create an inclusive digital experience

marketingmagau

To create accessible digital experiences, brands need to consider the diverse needs of users and commit to inclusion, writes Kelly Slessor.

Inclusive digital experiences mean many things to many people. For me, it is about creating an online experience that responds to a user’s needs. As a result, this allows the user to achieve whatever it is they set out to do.

Research shows that an incredible 98% of websites have accessibility issues. There are 4.5 billion people online today and it has predicted to grow to 6 billion people by 2025. The question is, how do you create an inclusive digital experience for 6 billion people.

Last year, I received an email from a woman who was struggling to find the right outfit. The person was impaired and struggled to use online sites to shop due to the lack of accessibility. She highlighted the challenges faced by the impaired when shopping online.

One issue that stood out was the accessibility for remote communities. Some remote communities do not have access to high internet speeds or the internet. So, how can we create digital experiences that allow remote communities to gain access to websites, products and services? Also, how can these communities sell their products and services via online platforms?

There are many different areas that make up inclusive digital experiences. To test and learn, we need diverse teams and partners that recognise and understand the issues. We need to commit to change. 

It is a complex topic with many challenging elements. It will become a key area of focus for many retailers and businesses in the next few years.

Read the full story at Marketing Mag.