Hello and welcome to October: In Review
You’re probably already quaking at the thought of it. Black Friday, Cyber Monday and the long holiday season are all just around the corner, which means there’s a frantic herd of shoppers heading your way.
But don’t panic! There’s just enough time to grab a cup of coffee, sit down, and enjoy some of the finest retail, ecommerce and digital marketing content from around the web this October. Consider this your holiday-season survival kit… good luck.
1. Advice: Dropshipping Strategies to Simultaneously Scale Your Online Store, Keep Employees Happy and A/B Test New Markets
This month, our friends over at Bigcommerce wrote a great piece on dropshipping. Contrary to the name, drop shipping doesn't involve letting your packages fall to the floor, instead it is a technique of providing goods via direct delivery from your manufacturer, straight to your customer.
Essentially "with dropshipping, you can offer products to your customers without purchasing inventory."
Brilliant right? This opens up a whole realm of possibilities, and takes a lot of strain off your staff. It also makes scaling your business a lot easier. Find out what Bigcommerce had to say, and start to think about whether your business could benefit from this technique.
Shameless promo, Brightpearl does a pretty good job at managing drop-shipping.
Previously a US phenomenon, Black Friday has started to really ramp up in the UK over the past few years, and this year is forecast to be bigger than ever.
Black Friday sales are expected to top £1.6 billion in the UK alone this year - £300 million more than in 2014 (never mind the massive $50.9 billion USD in America) - which means retailers will need to be ready.
This article contains some interesting charts to give you a real idea of what’s ahead, but the crucial message is this: "retailers need to wake up to this displaced spending and be very careful not to cheat themselves of revenue. The consumer is far more likely to be the winner here, but they still need to be careful not to be sucked in by the hype and make sure they’re getting the discount they want to see."
We suggest getting the right systems in place to handle a massive influx of sales, and ensure that you’ve got a plan for winning long-term customers out of a short-term frenzy. Whether this be stand-out packaging, or excellent customer service, keeping your head clear and above the busy rush will make all the difference.
Writing product page descriptions is easy right? You just list features and inventory descriptions with pics of the product right? Wrong.
A prospective customer has made it as far as you product page, the last thing you want to do is scare them off, or worse - bore them. Instead you should seek to build rapport and express your brand personality using clever copy and sophisticated positioning.
That’s no easy feat, but the team over at econsultancy have put together a fantastic template for you to work from, and cited some useful examples.
Check it out here, and have a think about how you can reimagine your product page copy this quarter.
I’m a big fan of email. It’s cheap, extremely effective, and opens up a direct line of communication between you and your prospects & customers.
Whether it’s on a smartwatch, their mobile, or their work computer, emails get you in front of your audience anytime, anywhere. It’s no wonder that the average return on email marketing investment is$44.25 for every dollar spent.
If you’re an ecommerce retailer, getting your email marketing right is absolutely essential. Whether it is capturing lost sales through shopping cart abandonment emails, or sending out personalised offers for inactive customers, this article by Shopify identifies 7 of the best opportunities to drive sales through email marketing.
With ROI like this, stop ignoring the power of email marketing! Have a think about how you can set up email marketing to work for your business, and watch as you reap the rewards.
Psst. Brightpearl integrates perfectly with Mailchimp.
Landed costs are essential for small and medium sized retailers. Why? To put it simply, landed costs allow you to get a true and accurate representation of the cost of a product, and give you an understanding of real profit margins.
Part of managing an effective supply chain, landed costs are often left out or added as an afterthought. This can lead to all sorts of problems, ranging from incorrect purchasing decisions to poor attribution of costs.
But it doesn’t have to be this way.
This fantastic post dives into that ‘whats and whys’ of landed costs, and helps you to understand what you need to do to track these properly in your retail business.
That’s all for October folks, good luck through the busy holiday period. Don’t forget to comment and share, it might just make someone’s day!