Tag Archives: CEO

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BuzzFeed CEO on Secret to Succeeding with Facebook by @martinibuster

BuzzFeed CEO Jonah Peretti shares insights on finding success with social media and explains why other businesses dependent on Facebook may lose their footing.

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Searchmetrics Beats Brightedge In Court Over Patent Dispute

Back last May, we reported that Searchmetrics US had to flle bankruptcy over receptive lawsuits by Brightedge over patent infringement allegations. It really angered the SEO community at large because Searchmetrics and the CEO…

Google’s 2017 Inspirational Year In Search Review: It’s All About How

This morning Google published their annual year in search review, showing the world what the most popular search trends were for the 2017 year. Google’s CEO, Sundar Pichai…

CEO who forged court order to get Google to remove defamation faces prison

Contributor Chris Silver Smith tells the lamentable story of a sophisticated apparent reputation attack and a victimized company led to take desperate steps to recover.

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Giphy CEO: We Own Happy Birthday On Google. Next Day They Get Hit

A Fast Company story on October 3rd profiling Giphy, the popular GIF search engine, ended off with the cofounder and CEO of Giphy, Alex Chung saying “Yeah, we own happy birthday now [on Google]…

Google CEO Sundar Pichai joins Alphabet board

During his tenure, Google’s stock has increased from roughly $650 to $995.

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Yahoo Renames Itself as ‘Altaba’, CEO Marissa Mayer Resigns by @MattGSouthern

Yahoo as we know it is no longer. CEO Marissa Mayer resigned, and remaining board members have chosen to rename the company as “Altaba Inc.”

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Discount codes: 5 ways retailers can handle their deal addiction

Discount vouchers can be a great lever to grow top line revenues and engage new customers. However, they can also become a highly addictive and dangerous drug for retailers, increasingly relied upon (with diminishing effects) as a reaction to three major challenges:

Customers becoming conditioned to buy only with a discount; cannibalisation of organic sales; and a ‘pull forward’ effect with sales spiking artificially in the short term and declining post-promotion.

As their usage becomes increasingly widespread, there’s a rush by retailers to understand the full extent of their economic impact on the customer journey and get smarter with how they’re deployed.

Here are five strategies to make them work:

Have a plan.

Compelling offers that are aligned to recognisable events (Black Friday, January sales etc) can be powerful conversion levers at peak shopping times. However, if you’re focused on short term gains with heavy usage of tenuously themed codes, the chances are your customers will see through it eventually. As Jeff Bezos said:

 “When things get complicated, we simplify by saying ‘what’s best for the customer?’ And then we take as an article of faith if we do that, it’ll work out in the long term.”

In the context of promocodes, ask yourself: what’s best for the customer? A commitment to consistently fair prices with reward-based discounts (for new customers, rewarding loyalty or guaranteed incremental purchases), or a convoluted mire of vouchers that leaves them questioning full-price value?

Restrain yourself.

Don’t compromise the plan to squeeze out some end of month/quarter sales, without understanding the exact cost. Do you know the effect on customer lifetime value? Have you calculated the impact of cannibalisation of otherwise full-price purchases? Have you forecasted the post-discount drop in sales accurately?

Consider them marketing spend.

It’s easy to consider discount code cost and revenues separate to traditional marketing channels, with the cost a percentage of margin at the point of sale rather than upfront cost.

However, in order to properly gauge the impact, it’s necessary to understand their effect on the whole end-to-end economics of the customer journey. One company we polled revealed that upon adopting our multi-touch multi-channel attribution model, they revised the ‘incrementality calculation’ for the long term bottom-line revenue impact from discount codes from 70% to 5% of the total revenue generated using them.

Be smart with targeting.

Identify and focus on channels and customer segments where the revenue they generate is more incremental. One example is exclusive offers through specific affiliate partners that can reach new customers and reduce the risk of cannibalising existing customer purchases.

One customer segment approach is to immediately target customers who recently purchased with a time-sensitive offer as a way of generating genuinely additional sales. At Fospha, one of our favourite features is building different customer segments with different propensities to convert either with or without promos. This way you can consistently and accurately avoid wasting promos on people already planning to buy.

Use intent triggers.

Many ecommerce platforms push discount code messaging at each stage of the funnel. Whilst this approach is effective at delivering the most impactful short-term revenue, it also maximises the cannibalisation effect and encourages customer association between the brand and discounting.

New generation customer journey optimisation companies like us help businesses understanding exactly where customers are most likely to drop off or abandon their carts and trigger in-site messaging with discount codes to increase conversion where they’re needed.

Jonathan Attwood is CEO at Fospha.

Fospha specialises in turning customer data from every user journey, interaction, device and silo into actionable insights to optimise the economics of every moment of the customer journey. Get in touch here.

Insurers starting to get to grips with online conversion and complex forms

Insurers went online a long time ago, but one of the major challenges has been creating an online experience that can handle the relatively complex insurance “form-filling” process.

Many insurers have managed to drive consumers online, but a major problem has been the drop-off by consumers as they grapple with the online journey. Several insurers have now deployed sophisticated analytics packages to help them understand online user behaviour and exactly where the challenges are.

We at Fospha are trying to solve this problem. Our clients, a number of large insurers, have used the Fospha toolset to much more accurately track exactly how users behave on different parts of the online journey, and where the “problem points” are that cause users to give up their application.

Changes can then be rapidly made to improve those experience, and other “problem points” identified that continuously and further improve the online journey. In fact, our clients have reported 20% improvements in conversion, and we recently published a case study covering what one client had managed to do.

Download the case study here.

Fospha CEO Jonathan Attwood has over 20 years’ experience working with a number of major retail businesses in both the UK and in Silicon Valley in the US.

Jonathan was in charge of Fospha’s acquisition of iJento earlier this year in March and has since streamlined the company focus towards customer journey optimisation by analysing client’s forms and funnels.

SpyFu CEO Mike Roberts on How to Spy on Your Competitors

In this week’s episode of Marketing Nerds, I am joined by Mike Roberts, Founder and CEO if SpyFu, a very popular and effective Keyword research tool. We talk a little about where the concept of SpyFu came from, its evolution, and some of the unique ways you can use the tools information to improve your marketing efforts.

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