#mitxecs - holiday wrap-up: the evolution of a content-driven commerce business
TRANSCRIPT
HOLIDAY WRAP-UP: THE EVOLUTION OF A CONTENT-DRIVEN COMMERCE BUSINESS
Charlie Cole@CharlieColeCEOThe [email protected]/in/charliecole
Who are you?
• EVP, Fashion + Retail: Assembled Brands
– Acting CEO of two investments
• Previously: VP, E-Commerce
– Schiff Nutrition
– Lucky Brand
What is The Line?• Lifestyle site targeted
at women
• Offline, non-ground floor retail store support
• AOV > $500
• No promotions (thus far)
Holiday Challenges
• Offline, non-ground floor retail store support
• AOV > $500
• No promotions (thus far)
• (Yes, these are the exact same bullets that describe who we are on the previous slide)
What motivates a shopper during the holidays?
• Be different
• Be efficient
• Be thoughtful, personal
• Be on time
How thinking like The Line can help you during the holidays
• Differentiate not on price
– Exclusive products
– Events
– Content
– Relationships
PRODUCTS
Exclusive Products
Exclusive Products
Exclusive Products
Exclusive Products
EVENTS
Events
CONTENT
Content
• What are people expecting from you?
• How can you delight them?
And what should you expect, look for in the holidays?
• How do you analyze a time with naturally different buying habits?
– Also applicable to:
• Promotional periods
• New arrivals
Dashboards
Dashboards
Dashboards
More detail: Conversion Funnel
• At what point in a customer’s journey are they transacting?
• Should you be thinking about your communication strategy for the holidays… in August?
Example: Last Click vs. First Click Interaction
• Google Analytics -> Conversions -> Attribution
MCF Channel Grouping Last Click # Transactions First Click # of Transactions
Direct 26085 17985
Other Paid Marketing 18175 21445
Organic Search 16105 18815
Paid Search 4250 5035
Referral 4210 5450
Social Network 655 760
Example: Top Conversion Paths
• Google Analytics -> Conversions -> Multi-Channel Funnels -> Path Length
Path Length in Interactions % of Total
1 21.13%
2 14.35%
3 10.67%
4 6.18%
5 5.28%
6 3.61%
7 2.37%
8 2.05%
9 1.29%
10 0.82%
11 1.32%
12+ 30.93%
Executive Summary
• Differentiate on more than price (or reap the margin consequences next year)
• Think beyond a day-by-day strategy, or even a Q4 only strategy
• Understand your limitations on your business based on real traffic + real inventory