All About ROI April 2010
In 2002, we were in financial trouble. Our company - Annalee Dolls, Inc. (ADI), a manufacturer of collectible dolls based in Meredith, N.H. - had three active and independently operating channels of distribution: independent stores, department stores and direct to consumer (catalog, store and website). However, we needed to do something to get ourselves back on track. Examining our options, in 2005 we decided to add the off-price channel to our mix. The channel would expand our 70-year-old brand to a much broader marketplace while offering the chance to manage our inventory more efficiently.
Creating a seamless cross-channel experience is likely your goal. But your customers may not be experiencing that, at least according to a March study from Forrester Research: US Online Retail Forecast, 2009 To 2014.
Problem: The Pashmina Store, an online retailer of luxury pashmina scarves, wraps and shawls, sought a more robust e-commerce platform to reach its goal of $1 million in revenues. Solution: Hired an e-commerce solutions provider. Results: From 2005 to 2007, revenues increased more than 60 percent year over year; in 2008, revenues increased 25 percent year over year. Traffic to the site has more than doubled, and conversion rates hover around 4 percent — significantly better than the apparel industry's average of 2.3 percent.
My.Suit's integrated e-commerce website and retail stores make it easy for men in the New York tristate area to order and purchase made-to-fit, made-to-order suits delivered in two weeks with a starting price of $495 — the cost of many off-the-rack suits men already have in their closets!
A recent decision of the Federal Circuit Court of Appeals, in the case of Forest Group Inc. v. Bon Tool Co., is a warning to marketers regarding patent references in label- ing goods. Moreover, it's inspired a new wave of litigation over "false marking" — i.e., labeling products as patented that aren't, in fact, covered by…
To lure value-conscious shoppers away from competitors' outlet stores, upscale department store Bloomingdale's plans to launch four outlet stores this summer and fall.
Spend $3 million on a Super Bowl ad and it better drive viewers to more efficient marketing channels. Dockers' "Wear the Pants" Super Bowl blitz drove consumers into every communication channel available.
At a movie theater concession stand you'll hear, "Want to make that a jumbo for just a quarter more?" In an airport bar, you can get a bigger beer for just a dollar extra. Car rental companies will upgrade you to a nicer ride for just $7 more per day. You can add 32 gig of extra storage to your iPod for just $80. All these merchants know that getting you to spend just a little bit more will supersize their profits. The same is true on your website.
Promotions are an important part of every marketer's email strategy - sales, discounts, discounts with purchases, gifts with purchases, free shipping, etc. These workhorse communications shouldn't be overlooked. They work well to motivate buyers to take actions, but they're not showstoppers. They won't make you stand out from the pack.
Steve Spangler has managed to make science cool … and at the same time earn a living. For the teacher turned retailer, the focus has remained the same: to educate kids, particularly about science. And if that means turning bottles of Diet Coke into erupting geysers in the process, all the better. Founded in 1990, Steve Spangler Science is the offshoot of a man's lifelong obsession with science. After 11 years as a science teacher, Spangler shifted directions. He decided to bring his passion for science to a wider audience, and a mail order catalog offering educational toys and science-related products was born.