Google have defined the ‘Zero Moment of Truth’ – the point at which a consumer starts researching a purchase online. Jake Bailey of RichRelevance offers best practices for CPG marketers seeking to optimise a vital moment in the relationship between brands, retailers and consumers.
The internet has changed the way consumers conduct pre-purchase research almost unimaginably in recent years. Recently Google christened this concept the ‘Zero Moment of Truth’ (ZMOT) – the moment a consumer researches a purchase online. To engage with a consumer who’s in ‘learning mode’ brands must supply her with real-time information. One of the most fundamental and effective ways to do that is to streamline your online merchandising strategy with the most influential e-commerce partners.
UK digital media site New Media Knowledge talks to RichRelevance Chief Evangelist Jake Bailey on how marketers can find success on their e-commerce sites below the mythical fold.
In 1994, when the Internet was in its infancy, renowned Internet strategist Dr Jakob Nielson argued that Web users paid much less attention to information not visible in the first screen view of a website. The term “below the fold” was born to highlight this area that was only visible after users scrolled down. Three years later Nielson added that scrolling was “no longer a usability disaster”, but the debate has raged amongst marketers ever since.
RichRelevance CEO, David Selinger, talks about big data on the Wall Street Journal FASTech blog.
There’s a big gap in Big Data, but it’s not in the numbers—it’s between the engineers and the executives at companies around the world.
“The gap is on the management side,” said David Selinger, CEO of RichRelevance, a company that analyzes retail data to help companies better target customers with the products they want. “The thinking is, if IT is empowered, then management is not empowered.”
Selinger spoke at the VentureWire FASTech conference along with fellow Big Data executives Andi Mann, VP of strategic solutions for CA Technologies, and Jack Story, CTO of Wipro Technologies.
How To Own The Digital Shopping Aisle, an article by Raj Rao, global director, eCommerce and Digital Marketing, 3M Corporate Marketing.
3M uses Shopping Media and RichRelevance to leverage the powerful advertising opportunity within online retail.
The shoemaker makes instant style recommendations based on site activity.
The Frye Company, a manufacturer and retailer of leather boots and shoes, relaunched its web store in late August. The company says the new site design provides a better sense of the brand’s heritage, and newly added tools like faceted navigation and instant product recommendations make it easier for consumers to find what they’re looking for.
Shoppers who land on retail sites through Facebook or Twitter are less likely to make purchases. Their conversion rates average 1.2% and 0.5%, respectively. Per average order, however, they spend more than those who come through Google. In fact, shoppers who originated from Twitter spend on average $121.33 — the highest average order value (AOV) of all, according to a recent study.
Facebook shopping is growing, but it still represents less than one percent of online retail.
That comes from a new report by personalized shopping vendor RichRelevance. The company mined on data from more than 200 million shopping sessions in August, which resulted in over four million orders that totaled more than $500 million.