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- I took the sleeping pill prescription she gave me, took a (short) vacation, and went back to my normal pace.
- Even with sleeping pills, I was only getting four hours a sleep a night – max.
- The current prediction (February 2019), according to eMarketer, is that traditional ad spending will drop slightly and digital will overtake traditional for the first time this year, ever.
- US traditional media ad spending growth 2019
- That being said, there are some new players to the traditional space we haven’t seen there before, specifically, startups and D2C brands that are looking for places and spaces to gain awareness and have been pushed out of the digital channels on price or saturation.
- Rob Schultz, Roman, told Digiday:
- “With new business, you’re going to push for scale and at some point, you get priced out on Facebook prospecting. That’s a trend now – companies are looking for ways to fill the funnel to get people in a re-targeting bucket. Especially with TV – you see a lot of brands on the direct-response side spending more money there because it’s an effective channel. It’s being treated similarly to a digital channel.”
- So…cutting budgets from traditional advertising, maybe not a great idea. In fact, you might want to spend more.
- Get Ahead of the Rise of Advertising on Marketplaces
- I can’t tell you what to do exactly – or where to get the funds, that’s not how this works.
- I can only give you what is coming:
- More advertising options on marketplaces.
- More silos to break down.
- But here are a few things you can do, organizationally speaking, that will set you up for success to navigate this ever-expanding digital universe.
- 1. Retail Readiness
- This means being able to:
- Compete on pricing, multiple fulfillment centers (or staffing the one appropriately) inventory intelligence (in-stock, quantities and decrementing) in an automated fashion.
- Process returns, customer complaints, reviews and get those orders out the door. The new norm is two days.
- Search folks aren’t often involved here – I get it, we sell the thing. But you need to start understanding this stuff, too.
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- If your .com conversion rates start dropping, slowly, over time and you haven’t been looking to see where else that item is sold…you might be losing sales to Amazon.
- If the .com is listing a 7-day shipping window and the brand you’re working for set up FBA (Fulfillment by Amazon) for that item and it has 2-day free shipping with Prime and for a lower price, guess where your conversion went? (Also, you might want to check out the Amazon Attribution beta, if that’s the case.)
- 2. Content & Creative
- Take advantage of the features and functionality that each platform offers – they built it that way for a reason.
- Some reasons are better than others, but there are key differences in how they function (for example, Amazon product pages vs. Walmart product pages.)
- Plus, having product content that is informative, helpful, customer-friendly, consistent and – well – pretty, causes conversions.
- And product pages are crawled, indexed and totally show up in search results. Own that SERP all the way.
- 3. Internal Organization
- This is the number one “thing” I have seen collapse or stunt ecommerce efforts.
- If the people in the organization are not incentivized to work outside their boxes within digital, then they won’t.
- And if not incentivized, at least having the conversation, getting clear on roles and responsibilities and how those touch upon one another.
- 4. Process
- Piggybacking off the internal organization piece, if there is not a clear process for rolling out products on which platforms, price points and fulfillment, things get very messy, very fast.
- 5. Product
- Invest in the tools of the trade that enable growth. Or build it. Whatever.
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