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Cyber Monday 2019 By The Numbers: A Record $9.4 Billion Haul

Topline: With the busy holiday shopping season well under way, Cyber Monday raked in a new record of more than $9 billion in sales, marking the first day in history when consumers spent over $3 billion using their smartphones, the latest report from Adobe Analytics shows.

  • Total sales hit $9.4 billion—up nearly 19% from a $7.9 billion haul last year, according to Adobe Analytics, which measures transactions from a majority of top U.S. online retailers. That’s bigger than both Black Friday ($7.4 billion) and Amazon Prime Day ($4.2 billion last year).
  • As shoppers increasingly move to digital rather than in-person spending, online sales via smartphones grew 46% from last year, accounting for 33% of all Cyber Monday sales in 2019—at a new record of $3 billion, according to Adobe Analytics data.
  • During the peak hour of shopping between 11:00 p.m. ET and midnight, consumers spent $11 million on average every minute, Adobe said.
  • The top-selling products on Monday included Frozen 2 toys, the Nintendo Switch, VR devices, Samsung TVs, LOL Surprise Dolls, Apple laptops, NERF products and video games like Madden 20 and Jedi Fallen Order, Adobe’s report shows.
  • With more competition among retailers than ever, the report also highlights the 41% growth of BOPIS (buy online, pickup in-store) services this year, as shoppers increasingly looked for maximum convenience and time saving.
  • “Customers increasingly have a bigger basket of fulfillment options,” points out Morningstar analyst Zain Akbari, with more large retailers like Walmart and Target increasingly competing to offer cheaper and more efficient pickup or delivery services.

Big number: As of December 3, the holiday season has generated a record $81.5 billion in total online sales so far, Adobe Analytics data shows. Overall holiday spending for 2019 is predicted to hit $143.8 billion, compared with $126 billion last year.

Today In: Money

Crucial quote: “Retailers unlocked sales earlier to combat a shorter shopping season, while continuing to drive up promotion of the big branded days including Black Friday and Cyber Monday,” said John Copeland, head of marketing and consumer insights at Adobe. “Consumers capitalized on deals and ramped up spending, especially on smartphones, where activity increased on days when shoppers were snowed or rained in.”

Tangent: While Cyber Monday saw the best deals on televisions, with average savings of more than 19%, December 27 will be the day with the biggest discounts on electronics (27%), according to Adobe’s findings.

Surprising Fact: U.S. shoppers will on average each spend $637 this holiday season, according to Accenture’s annual Holiday Shopping Survey.

Further Reading: Here’s What Not To Buy On Black Friday, According To Experts (Sergei Klebnikov)

Follow me on Twitter or LinkedIn. Send me a secure tip.

I am a New York—based reporter for Forbes, covering breaking news—with a focus on financial topics. Previously, I’ve reported at Money Magazine, The Villager NYC, and The East Hampton Star. I graduated from the University of St Andrews in 2018, majoring in International Relations and Modern History. Follow me on Twitter @skleb1234 or email me at sklebnikov@forbes.com

Source: Cyber Monday 2019 By The Numbers: A Record $9.4 Billion Haul

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Big-box stores including Target and Kohl’s are offering massive discounts on items such as Instapots, Roombas and doorbuster deals online. WATCH THE FULL EPISODES OF ‘WORLD NEWS TONIGHT’: https://bit.ly/2P5Snrx WATCH OTHER FULL EPISODES OF WORLD NEWS TONIGHT: http://abc.go.com/shows/world-news-to… WATCH WORLD NEWS TONIGHT ON HULU: https://hulu.tv/33iKepm #WorldNewsTonight #DavidMuir #CyberMonday #HolidayShopping

 

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The 10 Most Customer Focused Companies In Asia -Blake Morgan

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All over the world customers are king. But it’s especially true in Asia. Customers in Asia are unlike any others in the world. They tend to be more connected to their mobile devices and are eager to spend and connect with brands. Many of the most successful companies are those that are completely focused on their customers. Here are 10 of the most customer-focused companies in Asia. Customers are front and center at Singapore-based DBS Bank. The company has a Customer Experience Council, chaired by the CEO, which proactively anticipates and addresses customer needs……………

 

 

 

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5 Powerful Examples Of Social Media Customer Care – Alina Gorbatch

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Social media customer care doesn’t sound like something worth an entire article. After all, social media has been with us for a while. We know that customer care is important, we have business pages on multiple platforms, we reply to messages and direct tweets, solve tickets, and gradually forget how to use a phone. What else is there to do? Unfortunately, it turns out that most of us don’t do even that. Social media customer care suffers from a sheer lack of attention. Research shows that brands reply to only 11% of customers…….

Read more: https://www.jeffbullas.com/social-media-customer-care/

 

 

 

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Why Customer Service Is Important To The Success Of Your Business – Salesforce

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Great customer support drives an amazing customer experience, especially when your support team moves beyond just reacting to problems and toward anticipating customers’ problems. When support agents are empowered to go above-and-beyond with customers, or have a help desk solution that makes it easy for them to upsell or cross-sell relevant services, they can create winning experiences that help you stand out from the competition……

Read more: https://www.salesforce.com/products/service-cloud/what-is-customer-service/?d=7010M000000uOnuQAE&ban=US_Pocket&dclid=CLD6rPvTnN4CFQFODAodGZsAwg

 

 

 

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Captipic Enhancement – The First Power of Persuasion Personalisation That Brings Real Customers To your Business

You are now able to send personalized images to ANY of your leads, subscribers and customers, either on your website or via email. But, if you’re already impressed with Capticpic, get ready to be WOWED. Let’s face it, as most of us are staring at our various screens for several hours a day, we’ve got used to seeing most standard fonts. We’re even become savvy to the more stylized fonts that mimic handwriting. Imagine the look on your leads, subscribers or customers’ faces when you send them to a link on your website, or you send them an email, and they see a handwritten message, just for them……

Read more: http://sales.captipic.com/oto-1-v1/

Captipic Enhancement – The First Power of Persuasion Personalisation That Brings Real Customers To your Business

Imagine the look on your leads, subscribers or customers’ faces when you send them to a link on your website, or you send them an email, and they see a handwritten message, just for them. This really is on another level. What the Capticpic team are allowing you to do is, not only hand you THE way to grab attention, build engagement and rapport in 2018, they’re future-proofing your marketing campaigns! NO ONE else is doing this online. What you are witnessing here is the future of personalisation. This is what marketers will be doing in 5 years’ time.

The Unity Suite -Our “TUS is” the ultimate way to grow your reach when it comes to the names being captured for the future of your personalisation! Imagine being to tap in as a collective as Captipic harvests ALL users names and allows every Unity member to use it on auto pilot. send personalized images to ANY of your leads, subscribers and customers, either on your website or via email…….

Read more: http://sales.captipic.com/oto-1-v1/

Discover – How To Increase Your Conversions By Getting Your Message Out To 100% Of Your New Leads Instantly

Despite the fact that there are millions of businesses out there begging for what you have already to sell them. Did you know that over 70% of new business leads never even receive a follow up from their approach? That’s real money being left on the table. Discover isn’t just a lead generation too. Becomes a Private Investigator – telling you the holes in your lead’s marketing – so you can immediately jump in with your product or service and offer them the EXACT solution they need and charge them handsomely for it.

Adds all of your new leads to your chosen autoresponder, CRM or webinar platform AND does all of the selling for you, firing off emails automatically whilst you sleep. With Discover, you can contact 100% of your leads EVERY TIME. Without struggling to find the time, without having to be faced with 100 No’s for every Yes And without EVER missing a lead or a sale. Ever Again…..

Read more: https://gojeo.convertri.com/launch

A Future of Monetized Branded Content Begins With Customer Value – Lauren McMenemy

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Content noise has reached epic proportions, and standing out from the crowd is no longer as easy as chucking money into paid distribution. Providing customer value becomes paramount as users have millions of links all vying for their clicks. They are more discerning, and also more skeptical; so the quality and provenance of content is evermore important.

Traditional media outlets have been struggling with this for at least a decade. As the internet became all-pervasive, media companies just duplicated their print offerings online, for free. It was a scramble to stay relevant in a digital age, but it actually damaged brands and the industry as a whole. By the time paywalls started going up, and the publishers began asking their audience to pay for access to content they had already been getting for nothing, the expectation and value of the content had already been assumed to be, well, free. Consumers naturally were resistant to suddenly being required to pay to read. After all, the internet should be free… right?

“In the transition to digital, a great error media companies have made is trying to emulate technology companies’ business model. If you’re Google or Facebook, advertising works. You’ve got the scale to make sense of keeping a product free … [But] unless buoyed by reach of billions of users, those who don’t charge for at least part of what they do are doomed.

“If you stand by the principle of not charging for anything, sooner or later it’ll make you compromise on everything,” writes online publishing course owner Edward Druce on Medium:

This is all well and good for traditional media outlets, those places we’ve turned to for centuries to inform and entertain us. We pay for the print versions, and evidence shows around two-thirds of news outlets in Europe now have some kind of pay model for digital content.

But the media landscape has changed—brands are now getting in on the publishing act. As brand publishers mature in their offering, the big question has yet to be asked: Will consumers pay for branded content?

Legacy Branded Content Still Sells

The short answer is yes, actually. Age-old content marketing products like the Michelin Guide, prove that consumers will pay for content that provides value, regardless of who has written it. Michelin now prints a range of travel guides, maps, atlases, and more to complement the world’s best-known restaurant guide—all created, of course, to get people into their cars and wearing down their tires.

man reading a magazine

In the UK, The AA (Automobile Association, a roadside assistance provider) follows a similar path, but adds in printed versions of the Highway Code and books to help study for your drivers license. Once you’ve got that license, you’ll need their services, of course.

It’s not just the car industry that has customers paying for content. Weight Watchers Magazine has a total paid circulation of 1,127,545, 90% of which are subscribers. That’s more than one million consumers automatically paying monthly for a magazine that has the sole aim of promoting the Weight Watchers nutritional plans.

So while paying for branded content can work, these are special cases of well-established brands providing tremendous customer value. There is still yet to be a brand that harnesses the power of a paywall for branded content on a mass scale. However, marketers aren’t ruling out the possibility.

Ideas for Leaders explores the idea of charging for online content, ironically placing the crux of the content behind a subscription paywall: “It is crucial how a fee-based charging structure is implemented: charge too little and you are missing out on valuable subscription revenue; but charge too much—or for the wrong content—and you will lose viewers, further undermining advertising revenues. The key is for media companies to take a flexible approach, charging optimal fees for selected content.”

How Can You Charge For Content?

Man standing on train platform reading newspaper

There are various models out there, both in the traditional media world and the world of freelance creators, that a company could look to adapt for its own revenue stream.

A paywall

Hide all of your content behind a payment portal, and charge an annual or monthly subscription fee for access. This model, however, requires a lot of trust on the part of the consumer given they are basically purchasing your content without knowing its quality. If you disappoint them, it may well do more than just lose you a subscriber—it could hit your brand’s reputation.

Remove the ads

If your content hub is currently complemented by banner advertising—be it for your own company, or sold space—some of your audience may be willing to pay a small subscription to remove the ads. Of course, this option is less likely today as ad blocking software is becoming more prevalent, and will necessitate flexible design.

Premium content offerings

Taking a cue from the Telegraph, you could drop the paywall in favor of offering additional special content in exchange for a small payment. In this way, most of your content will remain free to access, but those who truly value the quality of your analysis would get access to special reports or additional reporting.

One-off publications

Many brands know the impact a special report or regular review can have on downloads. True customer value can be found in providing industry analysis or investigative reporting. These publications are the result of months of hard work—why give it away for free? Likewise, you could ask for a small stipend in return for e-books and educational resources. Take a leaf from Michelin’s book and consider producing a guide that will offer insights to your industry.

Webinars and e-learning

Edward Druce’s Course Concierge, helps content creators to serve their audience and get paid for their efforts. One of their clients is Steve Ramsey, who spent 10 years creating woodworking videos on YouTube for a subscriber base of nearly one million people. He’s now offering more in-depth online courses to that subscriber base and making nearly 10 times the income he was on YouTube alone. While Steve is a one-man operation, what’s stopping your company from launching your own online instructional programs?

Paid subscriptions

Subscriber numbers are the holy grail for content marketers, a sign their content offers a valuable ROI to a loyal audience. It’s also a great way to create a community, something many freelance content creators have been doing via sites such as Patreon and Substack.

Screenshot from Patreon website

The former allows creators to run a membership business for fans, providing a meaningful revenue stream while being free from restrictions of third-party platforms such as YouTube. Substack, on the other hand, helps writers to start an email newsletter that makes money from subscriptions. A very new platform, it reportedly has just over 11,000 subscribers to newsletters paying an average of $80 a year for content.

Both options present a quick and easy way to monetize content as well as examples of how a brand might be able to build a subscriber base willing to pay for its content.

Asking for Payment? First, Offer Value

One of the founders of Substack, Christopher Best, has wise words for content creators looking to start a payment model: “The most important thing is knowing who your audience is and what they need and what they want; it’s them feeling like they have a connection with the author that gets people to pay,” he told Nieman Lab.

“When you’re orienting towards paying subscribers, you do start to see some metrics that don’t necessarily matter—just getting a huge number of clicks, in an advertising-driven world that is an end unto itself. But it doesn’t matter from a subscription perspective. On the other hand, you still have to get people to show up and see what you’re doing; you also have to show them the value of what you’re sending them.”

Mind you, a poll held on debate.org found only 20% of Americans think newspapers should charge for content online, so what hope do brands have? It doesn’t mean it’s not possible, it just means you should very carefully consider how you introduce the new revenue stream.

Ensure you’re offering optimum customer value, which means your content should be absolute top quality. Nothing “quick and dirty” will cut it. And importantly, don’t try to charge for something that was previously free. If this is something you want to explore as a potential new revenue stream, introduce a new content outlet, and perhaps test it out on small pieces to begin with.

One marketer I discussed this idea with spoke of an idea he’s had for a while—that the future of journalism will go the way of music, and we’ll have a Spotify-style service for written content. The idea would be that you pay to subscribe, and in return you get access to content from a selection of quality publications who are then paid royalties for access. There’s no reason why content from a brand couldn’t fit such a service—as long as it is top quality.

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Five post ideas to get your business blog fire burning brightly.

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Five ways to earn fans and followers for your blog.

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