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5 Phase planning

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Subject:  5 Phase planning
Author:   Alex Chudnovsky:   view profile | all posts by this author | add to favourites
Date:   09:23:33 3 April 2003
 
>I think you hit on a very good point here - this business
>sector is NOT a science and it need not be - but many have
>tried to make it so.

I don't think its wrong to think business is science, its just in practice understanding is not complete and chance of failure is high due to not being able to process all variables or even identify them.

>I am sure engaging with the customer may be a “me
>too” statement but MANY e commerce companies DO NOT
>DO THIS and do not know how too!

Yep, a lot of people say it and then move on instead of actually meaning it at all levels.

>Online I believe successful understanding of phase one
>processes (browsing) is 3-7 days – a very small
>window of opportunity – if they don’t
>understand that phase you really will have your work cut
>out to get a sale.

Generally agree, there are obviously some exceptions where people would still go to a poorly designed site, but this will be at expense of margins. Throw in marketing costs and dropped off from front page customer will move break even point further.

>1 – 3 to 7 days – browsing and understanding
>2 – 7 to 21 days – registration and close in
>for purchase
>3 – 1 to 6 weeks – 1st purchase and follow up
>experience
>4 – Within 3 months – 2nd purchase and other
>activity (additional browsing or community activities
>5 – Greater that 3 months – lapsed customer

Again agree in principle, with exception to customer contact - I firmly belive that customer contact should me made pretty much straight after first sale. Now, its a bit silly to push merhandise so, its better to focus on stuff like reviews, feedback etc, get people involved and make them want to open _and_ read your emails next time they get it.

> Phase 5 email campaign or promotional activity target – but
> can be high cost – good focus group target”

Costs of non-targeting are indeed very high, but these are not costs of actually authoring and deploying emails, but the costs of lost customers due to non-relevant emails -- if people won't find your emails relevant then they will just ignore them, and possible even not want to buy from you, so you will have loss of future revenues from these customers, which would result in other customers having to buy more to offset your acquisition costs.
 
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  • Compendium of Industry benchmarks, Ashley , 21 Mar 13:55
    A question that is often asked: "What is the industry standard for conversion rates / click through rates / drop out rates / traffic levels etc. etc.?" Most companies are only n ...
    • Compendium of Industry benchmarks, Barney , 24 Mar 11:01
      Hi Ashley.... I find these benchmarks very useful and agree with most of your estimates. Here are a couple of other benchmarks that could be useful: a) Percentage of traffic co ...
      • RE: Compendium of Industry benchmarks, Ashley , 24 Mar 17:59
        Thanks for those Barney - very interesting. I would say your average pages per visit was a bit high? My benchmark there would be 5-7. Perhaps it is more in your sector - all th ...
        • RE: Compendium of Industry benchmarks, robinedwards, 24 Mar 18:09
          From our sector (e-commerce, mainly B2C) the oft-quoted benchmark for browse to buy is 1-2% Many quote higher, and our mission is to get people there, but something to bear in m ...
          • RE: Compendium of Industry benchmarks, Ashley , 24 Mar 18:21
            Hi Robin I entirely agree about the need for sub-segmentation as you suggest. Care to bandy some figures around then for the segments you put forward? I haven't checked with ...
        • RE: Compendium of Industry benchmarks, Barney , 25 Mar 09:40
          My page views could be high... these are "entertainment sites", but this is a fairly solid benchmark for sites in this sector - probably simply reflecting the number of interesting ...
    • RE: Compendium of Industry benchmarks (jungle.com), Alex Chudnovsky, 27 Mar 10:39
      The following stats are based on about 1,200 email campaigns that I was involved with in the last 3 years in Jungle.com: CTR Conversion SalesPerEmail, £ Non-targeted: 2-4% ...
      • RE: Compendium of Industry benchmarks (jungle.com), silversurfer, 1 Apr 12:36
        I think this is all great stuff - but - it’s important that you consider cash in (gross profit) and cash out (operating expenses) alongside these numbers. Perhaps a few KPI's I ...
        • RE: Compendium of Industry benchmarks (jungle.com), Alex Chudnovsky, 1 Apr 13:19
          I'd like to apologize for providing not KPIs but general email marketing stats. I'd like to fix my error now. The KPIs that we used back in Jungle.com were (in no particular ord ...
          • RE: Compendium of Industry benchmarks (jungle.com), silversurfer, 1 Apr 13:57
            That's great - re industry benchmarks & KPI's. If you were to select 5 top line KEY performance indicators (industry benchmarks) which would they be? On 13:19:08 1 April ...
            • RE: Compendium of Industry benchmarks (jungle.com), Alex Chudnovsky, 1 Apr 14:23
              >If you were to select 5 top line KEY performance >indicators (industry benchmarks) which would they be? All of them and some more I omitted:-) But if you insist then my m ...
              • Philosopy and productitivty, silversurfer, 1 Apr 15:17
                I see - my last point on this ;-) So the aim of each business is to manage these numbers, are we clear how this should be conducted? Which department has critical dependence – ( ...
                • Philosophy and productivity -, silversurfer, 1 Apr 15:22
                  Philosophy and productivity - sorry typos.. On 15:17:18 1 April 2003 silversurfer wrote: >I see - my last point on this ;-) > >So the aim of each business is to manage these ...
                • Philosopy and productitivty, Alex Chudnovsky, 1 Apr 22:49
                  >So the aim of each business is to manage these numbers, >are we clear how this should be conducted? Unlike math this industry is too young to have something definate and cert ...
                  • 5 Phase planning, silversurfer, 2 Apr 11:10
                    That’s all very interesting stuff. I think you hit on a very good point here - this business sector is NOT a science and it need not be - but many have tried to make it so. Whil ...
                    • 5 Phase planning, Alex Chudnovsky, 3 Apr 09:23
                      >I think you hit on a very good point here - this business >sector is NOT a science and it need not be - but many have >tried to make it so. I don't think its wrong to think ...
      • RE: Compendium of Industry benchmarks (jungle.com), Martin Wright, 1 Apr 18:42
        Very interesting stuff, in particular the uplift you got with your 'unique' targeting. I have been trying to quantify the uplift companies have got by using viewing history as ...
        • RE: Compendium of Industry benchmarks (jungle.com), Alex Chudnovsky, 1 Apr 23:01
          > Very interesting stuff, in particular the uplift you got with >your 'unique' targeting ;-) It was unique to the best of my knowledge, some things get developed at the same t ...
    • Customer Acquisition Costs by sector, Ashley , 24 Apr 14:37
      Just came across a piece by Howard Seibel, Managing Director of Wharton Strategic Services which gives sample customer acquisition costs from various sources across the following s ...
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