Category Archives: Marketing

How to Personalize the Customer Experience [Infographic]

From our friends at Valpak…

Customers. They are one of, if not the most, important factors for any business’ success. As a business owner, you should be on the pulse of ways to improve your customer experience. A positive customer experience will turn a happy customer into a loyal brand ambassador who will be happy to leave a positive review or refer your company to friends and family. This, in turn, helps to grow your customer base and improve your overall success.

Building a consistent and positive customer experience doesn’t come without time and effort, however. One way to do so is through personalization. Customers seek a personalized and custom experience that is tailored to their pain points or interests. For seven ways to personalize your business and improve the customer experience, check out the infographic by Valpak below. It includes specific tips and examples of each method from the big guys, like Nike or Costco.

ways-to-personalize-your-business

How to Use Color Psychology to Boost Conversion Rates

From our friends at Design Advisor…

Color functions as metaphor, a statement and a great way to convey a message. Look no further than the latest music videos, movies and magazine covers to realize that behind any great design lies well thought-out, strategic use of color schemes. There is no reason why you too shouldn’t think of color strategically for your next marketing campaign: it will help you sell, as well as make it easier for customers to recognize your brand in the future.

To help you do that, the folks at Design Advisor have devised a great infographic showcasing 40 facts about color psychology that will help you convert website visits into purchases. Companies such as supermarkets, law firms and fast-food chains have been doing this for ages – it works!

Their infographic goes through a long list of colors noting which industries they are typically associated with and mentions example of well-known companies that use each color in their marketing strategies (Have you ever noticed that most fast-food restaurants use red?). It also provides advice on which colors to use and which ones are better avoided depending on the type of business you’re designing for.

For instance, black is usually associated with elegance, authority and power. It is commonly used by luxury product companies selling tech, automobiles and clothing and notable examples include Jaguar, Mont Blanc and Chanel. On the other hand, steer clear of black if you are selling food or health care.

Whilst black exerts authority, white is commonly associated with perfection. White is also often used in advertising to denote cleanliness and coolness. It is a popular choice for healthcare providers and charities since these companies wish to establish that they are clean, in either a literal or metaphorical sense.

According to the infographic, color accounts for 60% of a decision for or against buying a particular product. So don’t waste any time – start thinking about what your brand’s message is, and how you could utilize colors to reflect that.

Click here or on image below to view infographic.

Calculating Lifetime Customer Value

From our friends at CleverTap

Key performance indicators can vary greatly between businesses. Some companies will actively focus on optimizing revenue per employee, while others give more attention to customer acquisition cost. One metric that should be acknowledged and understood by every company is customer lifetime value.

Customer lifetime value is the projected profit a company expects to earn from the average customer. This requires computing the average sale amount, the average number of sales, and the average duration a customer remains loyal. Multiplying these figures together with the profit margin results in the customer lifetime value.

Focusing on customer loyalty and retention will naturally lend itself to increase customer lifetime value. When you consider the cost to acquire a new customer far exceeds the cost to retain an existing customer, the benefits of optimizing customer lifetime value becomes evident. Our friends at CleverTap have put together the following visual guide to help optimize your customer lifetime value.

calculate customer lifetime value example

Fascinating Facts About In-Store vs Online Shopping [Infographic]

The article below was written by our friends at redbrain.com.

For some people, shopping is a pastime and for others it’s a hard work. But, whether you love it or hate it, you have to shop at one point or another. Over the past few years, ecommerce has made the task of shopping easier.

It has grown to such unbelievable heights that these days shoppers prefer entering card details from the comfort of their homes over taking a 10-minute walk to the nearest store.

What makes online shopping even more appealing is the fact that you can have your goods delivered to your doorstep. Many people prefer this option as it saves them the trouble of having to carry the goods home themselves after spending hours in line at the store. Recently it’s really gotten out of proportion, with redbrain.com reporting that some people spend as little as 28 seconds on some shopping websites, without having to wait their turn or turn their car on to make a purchase.

Despite the ease of online shopping, other people love seeing and feeling the texture of the products they want to purchase in physical stores. In fact, 56% of in-store shoppers state that they prefer this type of shopping because they can see and touch the products.

55% of consumers shop in-stores because of the ‘try before you purchase’ possibility some stores offer, and 41% are worried they won’t get what they want if they place an online order for it.

On the other hand, 58% of online shoppers love it because they can shop for as long as they like. The 54% of them prefer it because they can compare product prices on various e-platforms and 29% love that they get free shipping for their purchase.

Seeing how well the e-commerce industry is growing, retailers quickly acted and now 58% of them have apps for mobile devices that allow shoppers to make purchases. The 83% of retailers worldwide also have mobile-enhanced websites that enable shoppers to place orders and enter their card details.

With the infographic below, you will have detailed information about in-store and online shopping. You will also be able to compare the growth rate between both types of sales while taking a closer look at what people buy most.

You can even compare what reasons people take into consideration before choosing to shop in-store and what causes other people to shop online.

In-store vs online shopping infographic.

Click here to see the full infographic.

 

How to Make Free Shipping Profitable (Infographic)

Free shipping has become the standard in online shopping. Proven to increase order volume and reduce cart abandonment, it is an effective tactic to generate more sales. The dilemma is that free shipping is never actually free, as businesses have to eat the costs. With shipping costs rising, offering unlimited free shipping is not sustainable for most businesses in the long run. The good news is there are alternate forms of free shipping that make this shopping perk profitable for your business.

To implement an effective strategy, you will need to evaluate your margin (how much your product sells against how much it costs you), shipping costs, product type, and your audience. Red Stag Fulfillment put together an infographic with 22 research-backed tips to create a free shipping strategy that meets customer expectations and drives profit.

How to Make Free Shipping Profitable