The Personalization Roundup is an ongoing blog series featuring the most evocative news, articles and blogs curated by Baynote each month highlighting the rapidly growing topic of web personalization. For this month’s roundup, we’ve combed the web to once again bring you the latest and greatest on the personalization revolution.
Over the last month, we’ve seen several interesting articles and reports discussing the current and future status of the e-commerce and personalization landscapes. Read on to learn more about the most commonly missed e-commerce opportunities, and to see who some VCs believe will emerge as Amazon’s biggest competition.
Measure For Success, MediaPost Research Brief—Our very own white paper, “Metrics Therapy– Details, Dashboards and Diligence,” by the e-tailing group’s Lauren Freedman, was discussed by several media, including MediaPost’s Jack Loechner. The white paper features findings from the e-tailing group’s 2012 Merchant Survey as well as insights from interviews with top retailers. The findings reveal that while retailers believe analytics offer the best way to improve profits, tracking the right metrics in mobile, social and across channels remains elusive. The findings also suggest interesting new conclusions about the metrics that really matter, such as profit and conversion rate. The whitepaper release preceded the Metrics Therapy for Merchant: Details, Dashboards, and Diligence Webinar on April 25th.
“Online Shopper Experience” Study of 100 Retail Brands Reveals Missed Opportunities in Shopping Cart Abandonment Processes, Yahoo! Finance—According to a recent study by Temkin Group and Bronto Software, a $1 billion U.S. company can generate between $141 million and $382 million over three years if they make a modest improvement in customer experience. Not surprisingly, the study points to user experience, indecision, technical issues, and product cost/additional fees as the top reasons buyers abandon online purchases—most of which can be addressed by better personalization strategies. To generate the data, Temkin Group and Bronto Software evaluated carting and purchasing processes of 100 online retail brands and their abandoned cart marketing strategies.
7 Mistakes to Avoid on Your Ecommerce Site, Mashable—Costly shipping, complicated and poorly functioning websites, overselling your tablet app, and hitting clients with irrelevant offers make up the list of the top e-commerce website mistakes. In this article Todd Wasserman discusses personalization basics – i.e. if you buy a mattress at Costco, you probably don’t want to receive another mattress offer for at least 10 years. He also notes that even if your e-commerce site already sealed a deal, sending irrelevant offers in response can dissuade customers from returning to make additional purchases. Knowing what your customers want in real time is the only way to avoid this all-to-common e-commerce mistake.
Facebook e-commerce: the next big thing?, Reuters—Will Facebook someday rival Amazon and eBay as an ecommerce leader? With Facebook’s upcoming IPO, the company will be looking for new sources of profit to reduce their reliance on advertising dollars. Social commerce or e-commerce leveraging Facebook’s social graph, may be that source. A handful of e-commerce startups and VCs see it as a very real possibility, and have started to spend big bucks on making it happen. Social commerce startups to keep an eye on include BeachMint, Yardsellr, Oodle and Fab.com. You can also checkout Baynote’s best practices for improving the effectiveness on your social commerce campaigns in this recent Multichannel Merchant article.