What conversion metrics are essential? KEVIN HILLSTROM | DMR #78

Kevin Hillstrom is the founder of MineThatData, a consultancy that helps retailers, e-commerce brands, and catalogers to understand how customers interact with products, brands, and channels. So Kevin: year-on-year, are customers continuing to spend more money online? Today on Digital Marketing Radio we discuss the following: What conversion metrics are essential? We often hear the mantra "mobile first", but is that true for all customers? Why do companies often ignore campaign and conversion data? What are the most important metrics to analyse when it comes to selling online? Are there any particular industry sectors that are more likely to be able to sell online? What about age segments - how does online purchasing behaviour change by age? The shift from desktop to tablet and how that impacts buyer behaviour How will buyer behaviour change moving forward? What data are companies not looking at but they should be looking at? How buyer behaviour has changed over the past 3 or 4 years and why a conversion rate drop isn't necessarily a bad thing The logical progression between a visit from a non-branded term and various repeat visits Why an indication of visitor progression is an important metric Why looking at the half life of metrics is important How to get your customers to become more loyal Software I couldn't live without What software do you currently use in your business that if someone took away from you, it would significantly impact your marketing success? SPSS [Data mining] What software don't you use, but you've heard good things about, and you've intended to try at some point in the near future? A genetic algorithm [An algorithm that mimics natural selection] My number 1 takeaway What's the single most important step from our discussion that our listeners need to take away and implement in their businesses? The interaction of marketing channels and customer demographics - you have some older individuals who are going to behave a certain way. This interaction between age and demographics is going to push companies in 2 different directions. It is going to be harder to separate your business from ageing customers if that is your demographic! Learn who your customer is and how they use technology to determine your path moving forward.