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John Lewis ‘back to its roots’ with renewed Never Knowingly Undersold campaign
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John Lewis has announced the reintroduction of its Never Knowingly Undersold (NKU) price promise – and analysts have generally welcomed the move as the retail giant looks to consolidate its place in an increasingly competitive and price-sensitive UK landscape.

Zoe Mills, Lead Retail Analyst at GlobalData, says the resuscitation of its NKU price promise, coupled with an updated narrative on its proposition, highlights a return to its roots that will be crucial to competing in a highly price-sensitive retail market.

“John Lewis has been in an identity crisis since it culled its NKU price promise over two years ago,” Mills says. “In 2022, its shift in focus to “everyday value and quality” was not enough to contend with its closest competitors across home, electricals, apparel, and beauty. This updated initiative will reassure its existing customers on price and make some headway in enticing back lapsed shoppers that had turned to its competitors.

“Now that price has returned to its mantra, consumer sentiment surrounding value for money at John Lewis should improve, particularly as the cost-of-living crisis has scarred shoppers’ finances. With price matching against 25 retailers, including, notably, Amazon’s electricals proposition, GlobalData anticipates that this will put John Lewis on the front foot as we enter the golden quarter.

“Limiting the extent of the price promise to 25 retailers will make the promise more manageable, and while it may lessen its impact with shoppers, it does include some online specialists that were excluded from the previous promise, and the list is made up of the retailers that its shoppers are most likely to compare it with.

“Celebrating 100 years since NKU was first launched, John Lewis intends to adapt this service over time to react to the changing retail landscape so that it does not face the dilemma that caused it to ditch the promise in 2022. It expects the relaunch to accelerate sales but, with the inclusion of online retailers such as Amazon, it is going to have a negative impact on gross margins.”

Photo by Daniel Adesina on Unsplash

CONVERSION RATE OPTIMISATION MONTH: Which of these solutions are in your toolbox?
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A variety of tools and services are available off the shelf to help digital marketers achieve their conversion rate optimisation goals Here are some leading options…

A/B Testing Tools

  • Optimizely: Known for its ease of use and powerful features, Optimizely allows marketers to create and run A/B tests to compare different website variations.
  • VWO: Offers a wide range of testing capabilities, including multivariate testing, personalization, and heatmaps.

Heatmap and Session Recording Tools

  • Hotjar: Provides heatmaps, session recordings, and surveys to understand user behavior and identify pain points.
  • Crazy Egg: Offers similar features to Hotjar, with a focus on visual analytics.
  • UserTesting: Enables marketers to conduct user testing and gather qualitative feedback.

Personalization Tools

  • Dynamic Yield: Offers advanced personalization capabilities based on user behavior and preferences.
  • Monetate: Provides real-time personalization and optimization based on user actions and attributes.
  • Adobe Target: Integrates with Adobe Analytics, allowing for seamless personalization and testing.

Analytics Tools

  • Google Analytics: A powerful tool for tracking website traffic, user behavior, and conversions.
  • Adobe Analytics: Offers advanced analytics features, including predictive analytics and machine learning.
  • Mixpanel: Focuses on product analytics, tracking user interactions and funnels.

Other Useful Tools

  • Optimizely Full Stack: For more advanced users, this tool allows for server-side testing and personalization.
  • Yotpo: A review and loyalty platform that can be used to collect user feedback and improve conversions.
  • Google Tag Manager: A tool for managing and deploying website tags, making it easier to implement tracking and testing code.

By leveraging these tools, digital marketers can gain valuable insights into user behavior, test different website elements,and optimize for higher conversion rates.

Are you searching for Conversation Rate Optimisation solutions for your organisation? The eCommerce Forum can help!

Photo by Silvan Arnet on Unsplash

CONVERSION RATE OPTIMISATION MONTH: Defining the key metrics for e-commerce success
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Conversion rate optimisation (CRO) is a data-driven process aimed at increasing the percentage of website visitors who take a desired action, such as making a purchase or signing up for a newsletter. To measure the effectiveness of CRO efforts, digital marketing professionals rely on a variety of key metrics – Here are the key data points, as used by delegates at the eCommerce Forum…

Core CRO Metrics

  • Conversion Rate: The most fundamental metric, it measures the percentage of visitors who take the desired action (e.g., purchases, sign-ups).
  • Bounce Rate: The percentage of visitors who leave a website after viewing only one page. A high bounce rate indicates a lack of engagement.
  • Average Time on Site: The average amount of time visitors spend on a website. Longer dwell times suggest greater engagement.
  • Pages per Session: The average number of pages viewed per visit. This metric indicates how deeply visitors explore the site.
  • Click-Through Rate (CTR): The percentage of users who click on a link or call to action.
  • Cart Abandonment Rate: The percentage of visitors who add items to their cart but don’t complete the purchase.
  • Average Order Value (AOV): The average value of orders placed on a website.
  • Customer Lifetime Value (CLTV): The total revenue a customer generates over their lifetime.

Advanced CRO Metrics

  • Conversion Funnel Analysis: Breaking down the customer journey into steps and analyzing performance at each stage.
  • A/B Testing Results: Comparing the performance of different website variations to identify the most effective elements.
  • Customer Satisfaction Surveys: Gathering feedback from visitors to understand their experiences and identify areas for improvement.
  • Heatmaps and Click Maps: Visualizing user behavior to identify areas of interest and frustration.

Using Metrics to Drive Optimization

  • Set Clear Goals: Define specific CRO goals based on your business objectives.
  • Track Key Metrics: Monitor relevant metrics regularly to assess the impact of your optimization efforts.
  • Analyze Data: Use data analytics tools to identify trends, patterns, and areas for improvement.
  • Test and Iterate: Conduct A/B tests and experiment with different website elements to optimize for better results.
  • Segment Data: Analyze data by different segments (e.g., demographics, device type) to identify specific areas for improvement.

By tracking and analyzing these metrics, digital marketing professionals can make data-driven decisions to enhance website performance and drive conversions.

Are you searching for Conversation Rate Optimisation solutions for your organisation? The eCommerce Forum can help!

Photo by Firmbee.com on Unsplash

Euro 2024 broke $500m sponsorship barrier
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The 2024 edition of the UEFA European Championships saw sponsorship deals from a total of 25 brands, with the largest deal in terms of annual value being with adidas, according to new analysis.

Alongside Sportradar, Coca-Cola’s deal ranks joint second in terms of the largest sponsorship deals. Overall, the 2024 UEFA European Championships generated sponsorship revenue of $535.25 million, says GlobalData.

Its latest report “Post Event Analysis – UEFA European Championships 2024,” reveals that the largest media value deal for the 2024 European Champions was with Deutsche Telecom. The tournament had a total attendance of around 2.68 million.

Olivia Snooks, Associate Sport Analyst at GlobalData comments: “Many of the partnerships, including adidas and Sportradar, have agreed deals with UEFA; therefore, the partnerships go beyond just the European Championships. Adidas took over from Nike as the official ball supplier to all UEFA competitions in 2000. Coca-Cola, on the other hand, has only a one-year partnership, serving as a global partner for the 2024 edition of the tournament.”  

The UEFA Euro 2024 final was watched by a peak audience of 24.2 million across ITV and BBC in the UK, with an average of 22.3 million watching the match. ITV posted its highest viewing share for a final since records began. The BBC’s coverage, in fact, beat ITV’s coverage of the final in terms of peak viewership. England’s Euro 2024 semi-final victory over the Netherlands was watched by a peak audience of 20.3 million on ITV, which prior to the final was the most-watched television program of the year.

Snooks continues: “As the European Championships are one of the UK’s “crown jewel” sporting events, along with other competitions, such as the Olympics, they are required by law to be shown on free-to-air channels. This year’s Euros set records for TV audiences in the countries of the participating teams, as the 2024 Euros increased to 24 competing nations.”

Approximately 65,000 fans attended the 2024 Euros final between England and Spain. Unsurprisingly, tickets for the final were the most expensive out of all of the matches. Ticket prices ranged from $107.26 (£83) to $1129.44 (£874). The total number of tickets sold for the quarter-final matches was 218,787, while the total number of tickets sold at the semi-final matches was 112,968.

Snooks concludes: “The attendance for the 2024 Euro final was considerably lower in terms of percentage compared to other matches at this year’s Euros, with a 92.5% full stadium. However, it is important to mention that many England fans left the stadium in Berlin before the medal ceremony had even begun; therefore, the attendance data for the final might be slightly skewed.”

Photo by Peri Stojnic on Unsplash

Build your supplier network at the eCommerce Forum
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As an industry professional you have a pending invitation to attend the eCommerce Forum, which will provide you with a rare full working day of industry networking, learning and connection building.

Will you be attending? Secure your free place here.

Your pass will be fully funded to attend as our guest, which includes:

  • A seat at our insightful seminar sessions, led by industry thought leaders
  • Your own personalised itinerary of 1-2-1 meetings with industry leading suppliers, who can help with your upcoming plans and projects
  • Complimentary lunch and refreshments provided throughout the day
  • Multiple networking opportunities with fellow industry professionals
  • Personalised attendance options to suit your schedule

Book online here >>> (booking takes only 5 minutes)

Watch our attendee experience video to find out more about what to expect at the event!

If you have any further questions please contact us here for more information.

If you specialise in Digital Signage we want to hear from you!
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Each month on Digital Marketing Briefing we’re shining the spotlight on different parts of the print and marketing sectors – and in September we’ll be focussing on Digital Signage solutions. It’s all part of our ‘Recommended’ editorial feature, designed to help marketing industry professionals find the best products and services available today. So, if you specialise in Digital Signage and would like to be included as part of this exciting new shop window, we’d love to hear from you – for more info, contact Kerry Naumburger on k.**********@fo*********.uk . Here’s our features list in full:- Sept 2024 – Digital Signage Oct 2024 – Brochure Printing Nov 2024 – Creative & Design Dec 2024 – Online Strategy Jan 2025 – Content Management Feb 2025 – Lead Generation & Tracking Mar 2025 – Email Marketing April 2025 – Digital Printing May 2024 – Social Media June 2024 – Brand Monitoring July 2024 – Website Analytics Aug 2024 – Conversion Rate Optimisation 

CONVERSION RATE OPTIMISATION MONTH: Define your goals, select the best partners
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Conversion Rate Optimisation (CRO) is a critical component of any successful digital marketing strategy. Selecting the right CRO partner is essential for maximizing ROI. Here are key considerations, based on delegate requirements at the Digital Marketing Solutions Summit and eCommerce Forum…

Defining Your CRO Goals

  • Identify Key Metrics: Clearly define the metrics you want to improve, such as conversion rate, average order value, or time on site.
  • Set Realistic Expectations: Understand the potential impact of CRO and set achievable goals.

Evaluating CRO Partners

  • Expertise and Experience: Look for partners with a proven track record in your industry and a deep understanding of CRO methodologies.
  • Toolset: Assess the range of tools and technologies the partner uses for testing, analysis, and optimization.
  • Data-Driven Approach: Ensure the partner emphasizes data-driven decision making and has a strong analytical capability.
  • Customer Focus: A partner with a strong focus on user experience and customer-centricity is essential.
  • Collaboration and Communication: Effective communication and collaboration are key to a successful partnership.

Key Considerations for CRO Success

  • Clear Testing Methodology: Ensure the partner has a robust testing methodology, including A/B testing,multivariate testing, and personalization.
  • Data Analysis and Insights: Look for partners who can provide actionable insights from data and recommend optimization strategies.
  • Integration with Existing Tools: The CRO partner should be able to integrate with your existing marketing technology stack.
  • Ongoing Optimization: A successful CRO partnership involves continuous testing and improvement.
  • Return on Investment (ROI): Clearly define ROI expectations and track the impact of CRO initiatives.

Building a Strong Partnership

  • Open Communication: Maintain open and honest communication with the CRO partner throughout the project.
  • Shared Goals: Ensure the partner understands your business objectives and aligns their efforts accordingly.
  • Regular Reviews: Conduct regular reviews to assess the performance of CRO initiatives and make necessary adjustments.
  • Data Sharing: Grant access to relevant data to enable the partner to conduct in-depth analysis.

By carefully selecting a CRO partner and following these guidelines, digital marketing professionals can significantly improve website performance and drive business growth.

Are you searching for Conversation Rate Optimisation solutions for your organisation? The eCommerce Forum can help!

Photo by Stephen Phillips – Hostreviews.co.uk on Unsplash

Benefits of free trials espoused in retail study
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New data shows 30-day free trials are the most effective method of paid customer conversions – almost four times (273%) more likely to convert a customer than 14-day free trials. Findings also show free trials are 28 times more effective than free products.

However, despite its effectiveness, and at no cost to the business, nearly 3 in 4 ecommerce sellers didn’t use the approach in 2023.

Whop conducted the ‘Optimal Free Trial Length for Digital Products’ study to understand how digital retailers can increase customer acquisition and conversion rate by analysing free trials of 3 days, 7 days, 14 days, and 30 days.

Of the four free trial periods, the 30-day free trials had the highest customer acquisition (32%) and conversion rate (56%). The second highest conversion rate was the 3-day free trial at 35%, however, this approach only had 2% total signups.

The findings also demonstrate that 30-day trials experience more successful signup rates, 16 times more than a 3-day trial and 1.5 times more than 7-day free trials.

While it is tempting to speed up conversion rates by using shorter free trials, the data shows 30-day free trials are the best for engaging and converting customers. This is because customers have more time to see how a product can create value for them. The longer customers use the product, the more they rely on it, and the more likely they will convert into paying customers.

Cameron Zoub, CGO and co-founder of Whop, said: “As it becomes increasingly challenging to get heard as a product or service in a crowded online space, one of the most powerful methods we’ve identified is offering 30-day free trials. By providing potential customers with an extended period to explore and integrate a product, businesses and digital creators can significantly boost engagement and conversion rates. This approach allows users to fully understand the value a product brings to their lives.

“As a platform which gives creators the ability to connect to a global audience, our mission is to empower digital product sellers with the insights and tools they need to succeed. By adopting proven lead generation techniques like extended free trials, creators can drive substantial growth and build lasting relationships with their audience.”

Photo by William White on Unsplash

John Lewis offers brand partners new online campaign management tools
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John Lewis has announced a suite of new retail media capabilities, which it says will help brands connect with customers shopping on its website, enabling them to create and manage their own campaigns, including via banner ads and sponsored product listings.

It also offers users a clear dashboard showing exactly how their campaigns are performing, how customers are engaging, and how many sales are coming through.

Brands can maintain always-on campaigns, and quickly adapt to seasonal trends and sales peaks such as Back to School and Black Friday. In addition, thanks to real-time data and performance metrics, brands can measure the impact of their initiatives right down to the individual product level and search terms.

The options have been delivered in partnership with Epsilon, the global advertising and marketing technology company which recently launched a similar offer for Waitrose.

As well as helping household names connect with millions of customers, the new options can also be particularly helpful for helping customers explore new brands that are relevant to their search and browse activity.

All ads are carefully reviewed by John Lewis’ in-house team to make sure they are suitable, beneficial and relevant for customers.

The investment underscores its dedication to improving the customer experience by better connecting individuals with the brands they care about, at the right time in their purchase journey.

Jemma Haley, Retail Media Business & Proposition Strategy at John Lewis, said: “While retailers have long been advertising on their own websites, we want to improve the experience, and make it even easier for customers to connect with the brands and products that meet their needs.

“As part of this, we’re providing brands with more targeted and relevant ways to connect with customers. Our shoppers are unique in terms of the ways they research, browse and buy, and we need to be ready to meet them in the moments they are ready to purchase or engage with a brand.”

Owen McAdam, Trade Marketing Manager, BSH UK & Ireland, commented, “John Lewis’ sponsored product ads performance is exceptional, driving both awareness and sales. Placing our Bosch and Siemens products in a prestigious setting like John Lewis helps to maintain a premium image and resonates with discerning consumers. The platform’s ease of use, campaign control, and transparency make it an invaluable tool for our marketing strategy.”

Epsilon’s Regional CEO Europe, Alban Villani, added: “John Lewis offers a unique and scaled audience across its online and in-store environments. People visit John Lewis in search of inspiration, to validate their research and to make purchases that often initiate a longer-term brand relationship. It’s a real opportunity for brands to evolve their strategies beyond performance goals to think about how they engage customers in ways that build awareness and loyalty.

“We look forward to supporting John Lewis further as they continue to test and learn across categories and build an even more impactful omni-channel media proposition for brands.”

CONVERSION RATE OPTIMISATION MONTH: What should be in every marketer’s toolkit?
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Conversion Rate Optimisation (CRO) is a data-driven process of increasing the percentage of website visitors who complete a desired action. To achieve this, digital marketers rely on a variety of tools to analyse user behaviour, test different website elements, and ultimately enhance conversions. Here’s our overview of the essentials…

Essential CRO Tool Categories

  1. Analytics Tools:

    • Google Analytics: A cornerstone of digital analytics, providing insights into website traffic, user behaviour,and conversions.
    • Adobe Analytics: Offers advanced analytics features, including predictive analytics and machine learning.
    • Mixpanel: Focuses on product analytics, tracking user interactions and funnels.

  2. A/B Testing Tools:

    • Optimizely: A popular platform for A/B and multivariate testing with advanced targeting and personalisation features.
    • VWO: Offers a wide range of testing options, including split testing, multivariate testing, and personalisation.
    • Google Optimize: Integrated with Google Analytics, allowing for easy setup and analysis of A/B tests.

  3. Heatmapping and Session Recording Tools:

    • Hotjar: Provides heatmaps, session recordings, and user surveys to understand user behaviour.
    • Crazy Egg: Offers similar features to Hotjar, with a focus on visualising user interactions.
    • UserTesting: Enables user testing and feedback collection.

  4. User Feedback Tools:

    • SurveyMonkey: Create surveys to gather user feedback and insights.
    • UsabilityHub: Provides usability testing tools to evaluate website design and user experience.

  5. Personalisation Tools:

    • Dynamic Yield: Offers advanced personalisation capabilities based on user behaviour and preferences.
    • Monetate: Provides real-time personalisation based on user actions and attributes.

Choosing the Right Tools

The choice of CRO tools depends on various factors, including:

  • Business size and budget: Some tools offer free plans, while others require a significant investment.
  • Level of technical expertise: Some tools are more user-friendly than others.
  • Specific CRO goals: Different tools excel in different areas, such as A/B testing, personalisation, or user feedback.

It’s often beneficial to combine multiple tools to get a comprehensive view of user behaviour and optimise your website effectively. For example, you might use Google Analytics for overall website performance, Hotjar for heatmaps and user recordings, and Optimizely for A/B testing.

Integrating CRO Tools into Your Workflow

To maximise the impact of CRO tools, integrate them into your overall digital marketing strategy. Use the insights gained from these tools to inform website design, content creation, and paid advertising campaigns. Continuously test and iterate to improve conversion rates and drive business growth.

By effectively utilising CRO tools, digital marketers can gain a competitive edge and deliver exceptional user experiences that lead to increased conversions and revenue.

Are you searching for Conversation Rate Optimisation solutions for your organisation? The eCommerce Forum can help!