Hello and welcome to February: In Review!
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February over already? Didn’t the month go quick? As it was the first 29-day February in 4 years and the next 29-day month won’t be for another 4 years, did you make the most of the extra day? Hopefully, your retail business benefited from an extra day of sales!
We are well and truly into the swing of 2016! The holiday season is well and truly behind us as the post-holiday returns have definitely died down and we’ve stopped looking back on 2015. We survived the most romantic day of the year, Valentine’s Day, and the year of the monkey is officially underway as the Chinese New Year took place on the 8th February.
As we enter March, the month of the early Easter and possible retail rush, let’s take a look at the best retail, ecommerce and digital marketing content to hit our computer screens this February.
1. Campaign: Do it Digital
A new campaign caught our attention this month, Do it Digital, that promotes the benefits of small businesses becoming more digitally engaged. The focus is on digital engagement due to its important role in developing a competitive, profitable and growing business.
The not-for-profit campaign has kicked off by running ‘100 Days of Digital’, which highlights a different opportunity for small business owners to get help and advice on becoming digitally advanced. Already in full swing throughout January and February, the calendar is set to run until the end of March so why not check out what’s to come and improve your business’ digital presence?
Do it Digital is here to “create a moment of real excitement, pointing small business owners towards available, practical support and thereby enhancing the success of all digital initiatives from both government and the private sector” – Michelle Ovens MBE
We’re super happy that our upcoming webinar, ‘Spikeball from Shark Tank Discuss Multichannel Retail Strategy’, is set to feature on the 100 Days of Digital Calendar.
Find out more at www.doitdigital.co.uk.
2. Blog: Marketing to Millenials: 5 Massive Trends That Are Leading the Way
Millennials are about to enter their prime purchasing years so it’s increasingly important for retail marketers to target this age group. The blog states, “Millennials will spend a whopping $1.4 trillion annually – or 30% of all retail sales in the United States alone.”
This useful content from Shopify highlights the top trends for marketing to millennials including the use of user generated content, influencer marketing, live streaming and the importance of mobile.
Has your retail business focused on marketing to millennials or will you consider it now?
3. Advice: Retail Management Tips: 15 Ways to Increase Profit Margins
Bob Phibbs, also known as The Retail Doctor, offered some great advice on how to increase your profit margins with 15 retail management tips.
This blog takes a look at how your retail business could be making more money with a few simple changes. With tips focusing on how to best manage employee costs, optimize product and pricing, deal with unprofitable customers and narrow your focus.
My favourite tips include:
- Narrow your focus to your most profitable items rather than selling hundreds of items that do not sell so well.
- Bundle products and services to sell added value to make the shopping experience more hassle free for your customers!
4. Blog: How to Calculate Customer Lifetime Value (CLV) in Ecommerce
Ever wondered how valuable your customers are to your ecommerce retail business? Well now you can easily calculate your customer lifetime value (CLV), thanks to Ometria.
Why is important to know CLV? Well, it costs more to acquire new customers than retain current customer relationships so by knowing your CLV you can work on customer acquisition and retention strategies.
Why not find out the value of your customers! It’s not too complicated to work out and all the advice you need is in this blog.
5. Infographic: eBay vs Amazon: A Selling Guide
eBay vs Amazon is an ongoing and never-ending debate when it comes to marketplace selling but who actually is the best? This infographic aims to tackle the problem in a boxing-style battle of the marketplaces.
For both eBay and Amazon, see how many visitors they get per month, the number of countries with localized websites, the average time spent on site, the number of items available, how many sellers are making over $1 million and whether they allow you to capture your customers’ email addresses.
They both have their pros and cons, Amazon is much larger giving sellers access to more potential customers, however eBay gives you the opportunity to grow your own loyal customer base. Who do you think is the winner?
That’s all for February! We’d love to hear how the month went for you, did you see a spike in sales for Valentine’s Day or Chinese New Year? Let us know in the comments below and have a great March!
