7 Bad Decisions E-com Marketers Make
Bad decisions. We’ve all made them. But when e-commerce marketers make them, they cost money. Here are seven bad decisions brands make all of the time.
The day after Valentine’s Day, Pratik Dholakiya reveals the costly choices in his Marketing Land piece, “Busting E-commerce Myths That Lead to Bad Marketing Decisions.”
Here they are from his Feb. 15 post, as though they’re CMO quotes:
‘Revenue and Profit Are the Only KPIs That Matter’
Conversion rates can be about more than sales, site traffic can be another indicator of business health and landing pages with the best lifetime value can be more important than short sprints of high profit. While the bottom line is important, noting how robust the business is from the starting line and throughout the race can show e-commerce marketers if they’ll even make it to the finish line.
‘A Good Product Will Market Itself’
Dholakiya had this listed lower, but we’ve heard it a lot at Target Marketing. So if he’s going to debunk this saying, we want to hear it sooner.
He offers an intense burn right away:
Belief in this notion is inversely proportional to the amount of time you’ve spent at the decision-level of a business.
Word of mouth and virality don’t create sustainable sales and definitely aren’t marketing strategies, he says. Without a marketing strategy, a business will die.
‘People From Social Media Don’t Buy’
Yes, they do, he says.
Social media can be a good brand awareness tool, can pull in more targeted traffic than other channels and can quickly convert to opt-in email subscriptions, he says.
Dholakiya also writes:
According to a study done by Monetate, conversion rates from social media are only 0.71 percent, compared with search’s 1.95 percent and email’s 3.19 percent, but social media is also the highest source of referral traffic for most sites, making up 31.24 percent of the typical site’s traffic.
Since visitors from social media are very high up the funnel, they are the visitors who need to be nurtured the longest before they make a purchase, but this doesn’t mean they can be neglected without adverse effects.
‘Nobody Uses Email Anymore’
Considering 98 percent of the Target Marketing audience does employ email marketing, per our research, this assumption is a puzzler.
Dholakiya calls this marketing myth “dangerous.”
Brands are “dead in the water” without email lists and this channel is the main digital way consumers will accept direct communication from marketers, Dholakiya says.
Social posts and ads may go unseen and consumers don’t as readily opt in to receive text or app marketing, he says. (He doesn’t mention search.)
‘All Marketing Efforts Take Place Off My Site’
SEO alone is a reason to continuously consider the site itself a marketing vehicle. But there are so many more reasons he points out, including split-testing landing pages to ensure better conversions.
It is a mistake to consider everything you do on your site “development” and everything you do elsewhere “promotion,” especially if you view those as two compartmentalized, separate tasks.
‘The Goal of Social Media Marketing Is to Go Viral’
This myth ties back to the idea of not needing to market at all.
If a brand’s marketing strategy is simply to have quick hits and unsustainable sales, they may not even be approaching viral marketing correctly, Dholakiya says. Virality happens when relevant influencers share.
But that’s not the point. He says retaining customers is the main way to stay in business and the best use of social media is converting new audiences there to email subscribers and, ultimately, to customers to retain.
‘We Need to Reach as Many People as Possible’
Connect supply with demand. General audiences are gravy, he says.
What do you think, marketers?
Please respond in the comments section below.
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