Published on March 11, 2014
What US retailers can learn from International peers Yulia V Smirnova Founder of CommerceBrain.com eCommerce consulting for online shops (customer acquisition, conversion and estore optimization) Bit.ly/cb2014bk
Bit.ly/cb2014bk Rules of the Game ① Share the lessons (3) ② Have you come up with 2-3 ways for your estore & hear your ideas ③ Show you my suggestions ④ Bonus
Bit.ly/cb2014bk Meet Yebhi.com $35M
Bit.ly/cb2014bk Yebhi.com Challenges ① Supply if eCommerce stores outweighs demand ② Aggressive discounting ③ Small audience that buys
Bit.ly/cb2014bk ① Delivering Customer Service • CTO rate 52% • 5K orders/day, 2.6K calls • 70% after order placed, 30% before • 7.5 min per call A. Call To Order Ratio Online content + One click answer system for CSAs • CTO rate 23% • 7K orders/1.6K calls • Return rate 15% to 3% • 4 developers, 3m • 2.3 min per call
Bit.ly/cb2014bk ① Delivering Customer Service B. First Time Response ?
Bit.ly/cb2014bk ① Delivering Customer Service B. First Time Response ? • Target 98% • Before 73%, after 96% within 30 days
Bit.ly/cb2014bk How Can I Introduce More Productivity In How I Service?
Bit.ly/cb2014bk ① What US eTailers Can Do ü Enable first time resolution ($200 value) or use spot awards, contests and performance based pay ü Bring personal and visual via tech to close on first call (video agent Whisbi) • Do demo, close on the first time call • B2B eCommerce (Ex. truck parts, professional equipment)
Bit.ly/cb2014bk ② Randomize Discounts (Variable Conditioning) time # of responses Fixed Ratio Variable Ratio Fixed Interval Variable Interval
Bit.ly/cb2014bk How We React To Variability
Bit.ly/cb2014bk How We Behave In Variability
Bit.ly/cb2014bk How We Experience Variable Rewards
Bit.ly/cb2014bk ② Randomized Discounts (Variable Conditioning) • Email 2x per week vs. daily prior with higher CTR & lift • Opened resources for conversion testing and lift from 1.2 to 2.3 %
Bit.ly/cb2014bk How Can I Apply Variable Rewards?
Bit.ly/cb2014bk What US Peers Can Randomize ü Revisit the purpose of email (next segmentation layer) ü Use dynamic offers for foundation (CommerceScience) ü Spice up your loyalty programs
Bit.ly/cb2014bk ③ Minimize “Sunk” Costs of Cash On Delivery
Bit.ly/cb2014bk ③ Minimize “Sunk” Costs of Cash On Delivery a. Replace follow up calls with b. Do not dispatch non- committed Missed Call Free incoming SMS
Bit.ly/cb2014bk ③ Minimize “Sunk” Costs of Cash On Delivery • Before o 3000 service calls o agents cancel 300 orders o 2500 dispatched o 500 returns • After o 300 service calls o Agents cancel 50, Zipdial cancels 500 o If 2500 dispatched o 200-250 returns
Bit.ly/cb2014bk ③ Minimize “Sunk” Costs of Cash On Delivery 1. Less returns 2. Zipdial cancels the same 3. No loss of revenue 4. Cost of delivery 50% savings (2X every time back) 5. Only need 10% of agents
Bit.ly/cb2014bk Zip Dial Use for Customer Acquisition
Bit.ly/cb2014bk Zip Dial Use for Re-‐‑Orders
Bit.ly/cb2014bk Zip Dial Use for Awareness
Bit.ly/cb2014bk ZipDial Story • What if I could replace ……? • Would not be great if I could do less of …. • What similar technology or approach to ZipDial intro can I apply?
Bit.ly/cb2014bk What US eTailers Can Do ü Subscriptions to SMS campaigns (new audience US or if go international) ü Add virality to your other campaigns (claim free samples or contest) ü Push notifications or custom audiences FB retargeting for abandoned carts recovery
Bit.ly/cb2014bk Strategy # 7 (18 in a book) Scale and optimize eCommerce operations through more productive processes, tech and systems Lesson Introduce productivity and operational excellence in your operations Yebhi improved 1. How to deliver customer service 2. How to diﬀerentiate discount oﬀers with variability (psych) 3. How to cut sunk costs & cooperate with customers • Servicing 40% more orders at 50% costs • 650% down • 45% down 2.5 years
Bit.ly/cb2014bk Bonus • Full Yebhi.com story –1 strategy o http://bit.ly/NoPSPf • “Grow and Scale Your Online Store To Profit” Kindle book o 15 stories, 228 tips, 67 lessons, 18 strategies framework, 92 site examples o firstname.lastname@example.org
Brands are more invested today than ever before on curating and distributing paid,...
Marketers need to be creating and publishing original content across many differen...
As content marketing continues to increase in popularity in every industry, more m...
Il Direct Email Marketing (DEM) è una tipologia di marketing diretto che usa la po...
This presentation contains all 120 rules from Part 1 of the 2nd edition of "Email ...
Optimizing eCommerce Operations For Profit ... eCommerce Operations For Profit International ... Store To Profit” Kindle book o 15 stories, ...
Optimizing Solr performance and User ... Optimizing eCommerce Operations For Profit International Stories ... Guide for optimizing eCommerce ...
PROS Revenue & Profit Optimization deliver ... Discover how to give your business a competitive boost by optimizing your ... and eCommerce applications ...
Optimizing Back Office Operations: ... Ecommerce Business Plan Template ... Managing Customers for Profit
... maurices seeks an AVP of Ecommerce Operations ... International; Home Based Ecommerce Jobs; ... Drive financial performance by optimizing data and ...
... eCommerce solutions, industry ... the overall efficiency of our warehouse operations has skyrocketed ... Epicor Customer Kroll International Named 2016 ...
... Infor EzRMS Uses Latest Hospitality Technology to Elevate Business Operations Across ... Top Stories From ... while still maximizing profit for ...
10 Tips for Increasing Operational Efficiency. ... most likely to streamline their operations—and ... of the top stories on InformationWeek ...