Alibaba’s Tmall Global now features goods from 14,500 overseas brands, 80% of them selling in China for the first time.
While it’s great to boost site traffic and sales through marketing and merchandising efforts, it’s better to also produce higher profit margins, says Heather Blank, vice president of e-commerce for Petco and a speaker at next week’s Shop.org conference.
While it’s great to boost site traffic and sales through marketing and merchandising efforts, it’s better to also produce higher profit margins, says Heather Blank, vice president of e-commerce and business development for Petco Animal Supplies Inc. and a speaker at next week’s Shop.org conference.
“It all goes back to trying to find the best offer and the best marketing message at the right moment,” says Blank, whose session, “Using Metrics to Drive Your Business with Margin-based Marketing and Merchandising Strategies,” is scheduled for 2-3 p.m., Thurs., Oct. 7.
Blank will discuss how marketers can use an e-mail management application like LiveMail from Coremetrics to identify who received what offers, who went on to make a purchase, and who clicked on an offer only to abandon the purchase process. The next step is to apply the retailer’s own analysis to which groups of consumers should be targeted in future campaigns with particular offers to generate the highest margins.
On the merchandising side, Blank will discuss how to use tools from a company like Offermatica to run A/B web page testing techniques to determine which of multiple product displays generate the highest margins in sales. “By showing different treatments of offers, we can see which convert to sales the best and which are most profitable,” she says.