Data

Your B2C marketing concerns during COVID-19

By 23rd March 2020 No Comments

What are your biggest B2C marketing concerns?

It goes without saying we are facing a market the likes of which we have never seen before.

We wanted to engage the digital marketing community and understand the challenges we are facing collectively.

As a result we will look at the topic(s) which are causing the biggest concern and research these to provide you with the best resources and advice.

Marketing during COVID-19

What is the reason for all this?

What we want to achieve

These are hugely concerning times. We have not experienced anything like this before as digital marketers.

Our industry continues to innovate, share knowledge and work together to help each other. To continue this we wanted to create a series of polls to do the following:

  1. Understand the challenges we are all facing
  2. Support and reassure others by highlighting where our issues lie, sharing the results of the poll
  3. Help our digital marketing community by researching and creating content to help address the concerns we collectively have

Before we start, we have broken down the different polls into areas to provide you all with a view of how others are getting on.

1. Your plans

2. Your change in budget

3. Challenges you face, sales, content, merchandising or forecasting and measurement

 

Marketing Concern 1 of 6 - Where you are right now

Do you have contingency plan in place and how are you preparing?

Marketing Concern 2 of 6 - You marketing budget

How has your marketing budget changed since the CORVID-19 outbreak?

Marketing Concern 3 of 6 - Generating sales

What is working and what is generating the best return?

Marketing Concern 4 of 6 - Understanding content

Do know what content to create and how much value it is adding to your business?

Marketing Concern 5 of 6 - Budgeting and Forecasting

Are you updating your forecasts and changing budget?

Marketing Concern 6 of 6 - What products to show

Which of your products are popular and are you showing the right ones?

Something missing? Have a free 15 minute chat with us

People also ask . . .

Why bother with AB Testing

AB testing has a number of benefits. The reasons you should bother with it include:

  • Limited exposure: You will be able to test your hypothesis in a safe environment. If you get it wrong then you have only impacted those who have seen the test rather than the whole audience or customer base.
  • Huge payoffs: While an individual test is unlikely to have a big impact on it’s own, the impact of many successful tests can be massive. Imagine increasing your conversion rate by 0.5%
  • Lower costs: By focusing on very specific hypothesis and using tools which do not require large amount of development resources means you can test your website functionality and look and feel, without big development overhead and costs.
  • Faster deployments: AB testing by it’s nature is all about rapid learning. As the marketing team will (mostly) be able to create their own tests, the results should be able to found very quickly. Not only with a reducing development time but a quick understanding of the test’s impact.
  • Data driven evidence: AB testing provides large amounts of data. As long as the test has been set up correctly and the right information has been captured the business case should be straightforward, allowing the marketing team to influence the larger website development roadmap/release cycle.

How long should I run by AB test for?

There is no single number of this.

What you will need to do is understand how much traffic you need to provide you with “confidence” the test is representative of your audience/website visitors.

Use this tool to tell you how many you need

How do I track my AB Test

Ensure you have a tool in place to be able to run AB tests.

Once you have deployed your test make sure you are able to see them metrics for each test, without this tracking you will not know if the test has made a difference.

The tracking should be available inside your AB testing tool.

If this is not available make sure you track the tests inside your web analytics tool. This could be as simple as creating two different landing pages with different names and seeing the conversion rate, add to cart rate, average order value of these pages compared to the generic or current page.

When should you not do AB Testing?

Do not run AB testing if:

  • You do not have a solid hypothesis backed up with data
  • There is no AB testing tool in place to help you randomly split your traffic
  • You do not have metrics or tracking in place to know if the test worked
  • You development process is slow and tests take longer than 2 weeks to run
  • You have a small amount of traffic, as tests will need a long time to be proven to be accurate or reliable

What does your AB Testing tool need to do?

See our Comparison tool to get your own personalised results compared to others/

As a guideline Workstream updates their benchmarks  and recently looked at the costs for Google Advertising.

They found the overall average Cost per acquisition (CPA) in AdWords across all industries is $48.96 for search and $75.51 for display.

However this does vary massively. For example they found in Technology the CPA in Search was $134 vs Display costing $104.

In E-commerce it was the exact opposite with Search costing $45 vs $66 for display.

Recommended Reading

Below is some recommended content, we have picked out. This content is mixture of resources to help you through to other articles which help understand more about digital.

Download: Budgeting for Marketing research – Our research covers what the leading organisations do to forecast and set their budgets for marketing. Read how they accurately forecast and adjust their budgets to get ahead.
Define: Conversion Rate – Read about a critical metric for measuring the number of people who take action on your website.  Learn how to diagnose conversion rate and understand how conversion rate impacts your cost per acquisition.
Discover: Resource for senior marketers – See our latest research or white papers to help you get ahead. Alternatively, read our digital marketing glossary for senior leaders to understand the jargon and acronyms of digital.
Ben Salmon

Author Ben Salmon

cutting through the noise by identifying commercial growth for #digitalmarketing and #ecommerce informed by #data @wearecrank

More posts by Ben Salmon

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