When Everything Is Equally Meaningless Anything Works Equally Well
Had a great conversation on GPlus today about the nature of web analytics. Here is the controversial point I made -
All web metrics are equally meaningless SO anything works.
If you haven't read Taleb's Black Swan you should. Nicholas Taleb is a brilliant QUANT who is fascinated by the strange predictably irrational ways of man. Taleb is a QUANT used by hedge fund types to see into the float and make more money than you and I can imagine together (lol).
Taleb looked HARD at what he does (or did) for a living and asked a hard question we should all ask - IS THERE ANY THERE THERE?
His conclusion was meaning and patterns exist BUT not nearly as much as we think. The world spins and turns whether we understand it or not. Keep that realization in mind because we are about to go down the rabbit hole.
Web Metrics Are Stupid
The rest of that sentence is "Web metrics are stupid, but they are the best stupid we have so we love them". The Rolling Stones are LOUD and Jagger is the devil as I write this and that feel appropriate.
Web metrics are stupid and meaningless because of how poorly we understand online attribution, who does what and what that DOING really means. Attribuiton is goofystupid.
Sure if we had hedge fund resources we could hire QUANTS and momentarily touch the face of God but to what end? The web is a sand castle on a beach where the tide is always coming in.
The web works on a simple often overlooked idea - the law of large numbers and tiny differences coming at ever increasingly FASTER exponential increments. Google becomes Google by multiplication of tiny advantages across a LARGE number of people over TIME to become CASTLE GOOGLE.
Because Google is LARGE and IN CHARGE doesn't change the nature of the game Taleb would explain. When white swans are all you see then you may be "sure" black swans don't AND CAN'T exist.
The nature of the game is the math of content networks described in the book LINKED: Why Everything Is Linked To Everything Else form Rules of Internet Marketing Chess.
Be sure to read BURSTS by the same author (Barabasi) too. Then read Black Swan by Taleb. If Linked explains the RICH GET RICHER content network truth Google mined BURSTS explains how we are not as unique as we think. Our patterns are knowable, predictable in an Asmovian psycho-history kind of half creepy way.
This is NOT to say Internet marketing is non-axiomatic, just a random chaotic ramble at all times. Nope, Internet marketing is a non-random wander masquerading as fledgling democracy.
Post Google's BIG CHANGE the new boss is much the same as the old and RICH are getting RICHER. Two axiomatic truths all Internet marketer learn (eventually)?
* The only time that matters is NOW.
* Patterns you think you see don't really exist and that's okay.
That last bullet is the truly ADVANCED idea. When all data is EQUALLY meaningless any data will do. If you are sitting across the table from an Internet marketer who insists on their view they are an idiot.
Any "my view" of things is an expense no true IMer can afford. Maybe there should be a third bullet:
* When in doubt return to the first bullet.
:). M
Ecommerce Trending
Thought this Google Trends chart was interesting. Pulled the chart to support a 2014 plan to create a new suite of publisher tools and an expansion of how merchants can profitably use crowdfunding and crowdsourcing to drive profits up and costs down.
When I see a chart like green line representing crowdfunding it is a starting gun confirming a trend. Magento being large and in charge doesn't surprise me. Magento is such a powerful open source ecom solution that they are all but rollling up the space.
This chart does look differnet for USA only (Magento isn't as strong here as in Europe). Shopify and Volusion's trends are interesting too. I've used Magento Go, Shopify and Volusion and prefer Shopify for UI simplicity, Magento for ecommerce power and haven't gotten deep enough in Volusion to have an opinion.
ANY GO option where you use their templates, business rules and platform favors the platform provider now and forever, so be aware if you are planning to do $1M or more in online sales "GO" options won't work well.
If you are NOT planing to scale your website into more than a million in sales a GO option may be just the perfect low cost ecommerce option. Here is my Magento Go Store to sell my stuff to help fund our Story of Cancer Foundation:
http://storyofcancer.gostorego.com/
Meshing A V8 SLAP
Had a V8 Slap today when I realized that the way Google has set up this new chess board doesn't favor the creation of new anything. When we started working on CureCancerStarter.org the chess board seemed to favor a User Generated Content (UGC) platform.
We wanted to create Kickstarter.com for cancer research. Great idea, but too late. Post Google's algorithm changes where social signals rule and trusted sources have all the high ground thinking in ways to fit YOURS into THEIRS is more productive and a better bet.
Important for ecommerce merchants to think in these terms:
* Appify.
* Widgetize. * Gamify.
Ecommerce merchants may be the most impacted by these changes. Commerce can happen anywhere so why isn't it? Our merchant minds, I ran a sizable ecom website for 7 years, still focus on CASTLE building when we should be thinking about crowd converting.
Find ways to EMBED and MESH your ideas into already scaled systems and your idea, startup or site might just survive long enough to matter. One you matter you can think about castle building.
From backpacking to cycling to staying in shape and more, outfit your outdoor activities with the latest gear, clothing & footwear at REI.
Martin (Marty) Smith:
5 Must Steals From REI
Here re five easy steals from http://www.rei.com that will increase your Holiday sales:
* Red DEAL or SALE button Far Right. * Deal of the Day (you can put this anywhere). * Loyalty Program (there are canned ones you can install). * Trigger Point Free Shipping (below Login). * BIG Search Box Next to logo. Red Deals Button
REI.com is aware that the right side of a website can be a gutter. If you use the F design idea, and they do, and watch eyetracking you know you can manipulate a visitors eyes with things like a long horizontal menu bar. Since everyone clicks on DEALS REI.com puts it far right and in a somber red (to match their black menu bar).
Deal of the Day
REI.com's is above their footer in the middle (another potential gutter). DEAL shoppers will find that link no matter where you put it, so put it in a potential gutter and you convert "dead space" to ROI positive with a simple graphic and idea. At this time of year and with social media being so HUGE if you don't have a great Deal of the Day lined up you will suffer at the hands of the REI.com's.
Loyalty Program
I hesitated to put this in since installing a loyalty program can feel like invading Russia in the winter. Don't let it get that way. Buy a canned and simple loyalty program or create some easy way to reward your most loyal shoppers. If you can't get your website loyalty together by the holidays use your "Multi-Buyer" segment and serendipitous give them something no one else gets (via an email). Find your 80/20 rule (20% of your customers will do 80% of your sales) and REWARD the 20%.
Free Shipping Trigger
When I was a Director of Ecommerce my boss was so skeptical and worried about Free Shipping I had to do extensive analysis and tests. Here is what we found:
* Free Shipping Triggers are always exceeded by 40% or more.
* Free Shipping beats no Free Shipping every time.
* Make sure your Shipping Schedule is PRESENT and easy to understand.
REI.com's $50 Free Shipping probably produces an Average Order Value (AOV) of just under $100 (or more). Remove the objection (shipping costs are seen as a "don't buy" objection) and your buyers will buy. Interestingly all orders, all shipments FREE SHIPPING didn't always win. Seems Free Shipping is related to BUYER PSYCHOLOGY so some friction actually helps, some hurdle may help buyers feel special.
Big Search Box
My theory is REI.com's menu system is so complex they have to have great internal search. Even if your navigation is perfect expect half of your customers to want it their way (by using search). If you want to get really cool make sure you are merchandising your search sets with either faceted search or dynamic zones (zones you fill with content based on behavior or modeled analytics).
Martin (Marty) Smith:
We've done a bunch of good things on the CureCancerStarter.org design, but, as with any new thing, there are areas that need improvement too, As an old ecommerce Director I like "money maps"
Money Maps
Money maps are when you detail how many steps it takes to checkout. Even if your cart is advanced enough to stay within one page Money Maps are still a very good idea. The more clear you can be graphically about where a visitor is in the process the more conversions your ecommerce (or in this case a 501c3 nonprofit seeking donations) will receive.
Trust Marks
No one ever clicks on a Trust Mark, but their absence is suspicious so I like to include them but rarely use the widget supplied by the company (because the widget can slow the page down and no one clicks on it anyway). Take a picture of the trust mark and print the words Trusted and Secure under your marks.
Trusted and Secure identifies why the marks are there and there is research that shows merely saying a power word like "trusted" helps create trust. In our case the bridge is Authorize.net, the CC processor varies so instead of getting into all of that I suggest we opt for the cancer center logo.
By using the cancer center logo next to the Authorize.net logo the context is clear and the trust extends both ways (from Auth.net to the cancer center and back again).
I will hand my rough over to our designers and UX people, but creating a money map and including trust marks wrap a NEW idea such as CureCnacerStarter.org in comfortable recognizable process. Comfort is GOOD when creating the trust needed to help visitors become buyers or donors.
Teams I've managed have made more than $30M online, but I never had to worry about our #ecommerce backend because we had a great team and it never came up. Not knowing what I don't know just cost me and http://www.curecancerstarter.org .
My mistake was in thinking Auth.net was both "payment gateway" and "credit card processor". NOPE. Auth.net is a "payment gateway" meaning they encrypt the transaction (for security reasons) and ship it over to a bank or credit card processor such as Sterling Buying Group or Elavon across a secure "bridge".
So when you put your Auth.net account into "test" mode you are really only testing if you have a valid and verified Auth.net token. You are NOT testing the entire roundtrip.
My friend and #ecom mentor Eric Garrison just let me know you can pay for a one time round trip to test (sure you aren't limited to once but each test would be a fee) to test both payment gateway and CC processor.
Setting up your Auth.net and payment gateway is a series of inter-connected forms (something I do so well anymore since it takes patience and detailed diligence). I trust Eric and his amazing wife Cynthia to help set up my accounts.
In fact I told someone from the Sterling Buying Group recently to think of Cynthia Garrison as my sister and tell her whatever they would tell me. If you have that kind of relationship with your website HOST then you may not ever need to know about how payment gateways relate to credit card processors.
And how when you are "testing" auth.net you aren't testing much, but if you don't have a "sister" like Cynthia you may want to read the linked post on GPlus. Did I just learn this lesosn the hard way? Yep, like most lessons.
B2C Content Marketing Laggards Narrow Gap With B2B - New CMI Study and How B2C Content Marketing Is DIFFERENT
You knew the gap between B2C laggards and…
Martin (Marty) Smith:
When I scooped the Content Marketing study showing a narrowing gap between B2C and B2B content marketing it struck me to share 10 ways B2C content marketing is different than B2B. I spent 7 years as a Director of Ecommerce and the last two as Marketing Director for Atlantic BT, a B2B web and software Development Company in Raleigh so can speak intelligently about both camps (one would hope :).
Here are 10 Ways B2C content is different than B2B:
* More User Generated Content.
* More contests and games.
* Less content creation.
* More content .
* More snippets and keywords less paragraphs and white papers.
* More social content less evergreen.
* Visual support important to both, REALLY important B2C.
* Content has to be FLATTER (less linked, less words, more bullets) and more visually support of immediate conversion.
* LESS YOU (website owner) more THEM (community formed around brands or products or your website).
* Money is ultimate judge of success.
You could argue money is the ultimate litmus test for both, but B2C is about money today and B2B is about money tomorrow.
A infographic featuring web design trends for 2013 created by Enfuzed. This is the original!
Martin (Marty) Smith:
If your Ecom webstie isn't responsive, doesn't have great content and isn't social....well good luck with that and be sue to send a card from where you end up in Jaunuary :).
Discover the best ecommerce platforms from our roundup of the top four ecommerce solutions in the market.
Martin (Marty) Smith:
Great post about the Goodl and Bad associated with each ecommerce platofrm. Very detailed and accurate. I've used Shopify and Magento. I found Magento to be powerful but SLOW. We create Magento ecommerce websites at Atlantic BT and they must be served correclty or they too are slow.
Shopify clearly benefits Shopify, but wrestling benefit out fo their platform for yourself is a differnet challenge entirely.
Martin (Marty) Smith:
Love this presentation and plan to do something similar for CureCancerStore.org. Going to share this with my brother Drew (head of merchandising and product development for the store.
Marty
I don't know this Ecommerce agency, but their video points to a BIG problem with video marketing - it seems easy. Video marketing is far from easy. This video is a classic example for burying the lead. After some loud rock music and four slides in we see they've worked on 150 Magento ecom websites.
THAT’S THE LEAD & IT'S BURIED.
Instead of the rock music I would start with a quiet single piano followed by this slide sequence:
Slide One: Magento Is The Most Dominant Ecommerce Platform.
Slide Two: Leading Retailers Using Magento Include (pick three in different verticals).
Slide Three: We've created 153 Magento Ecommerce sites.
Slide Four: Last Year Our Magento Ecommerce Sites Generated over $100M in Sales.
Slide Five: Like Hearth Surgery The More Magento You Do The Better You Get. Slide Six: Don't risk the HEART of your business.
Slide Seven: Call COMPANY NAME at PHONE
I would build the piano into a jazz piece by the end. My proposed sequence tells the Magento Story, creates a "Made To Stick" Analogy for the company's expertise and is SPECIFIC about exactly how many sites were created and how much money they've generated.
Never say things like "We've created 150+ Magento sites" because not being specific lowers your legitimacy. Even if by the time your viewer sees the video you will have created 300 Magento sties BE SPECIFIC and update later.
The other problem this video demonstrates is the NO STORY problem. We won't pay attention to o understand noise. Story creates connection and connection creates understanding. Always tell a story. My sequence tells the Magento story assuming that is the stronger story to tell.
If the firm was a branded firm I would tell the firm's story, but a low cost possible offshore provider should tell the story of the nearest brand - in this case Magento.
Email marketing has been used for years to keep in contact and maintain relationships with customers. Lately, with the increasing use of smartphones, we’ve seen the effectiveness continue to rise.
Martin (Marty) Smith:
Since email is typically the most profitable channel for most multi-channel retailers staying abreast of how mobile is changing email marketing is critical. The rise of triggered emails als heralds the rise of web 3.0's contingent what if statements filling dynamic zones on web pages with relevant content. Ecom merchants should watch email marketing trends closely.
Mobile Commerce Daily today - EBay, Zappos get first-mover advantage with iOS 7 app updates; Blimpie engages millenials with in-app offers in new mobile game; U.S. Bank integrates with Western Union to simplify mobile money transfers.
Martin (Marty) Smith:
What are implications of new iOS7? Ebay and Zappos think Apple's iOS7 will be a game changer as they crunch to launch new apps at Apple launch.
Checkout is where rubber meets road in ecommerce. Great infographic showing checkout design trends among top 200 online merchants around the world here.
Building an eCommerce Website: What You Need to Know Building an eCommerce Website There are few things more exciting than starting an ecommerce website and be(...) (RT @VinsDomainscom: Building an eCommerce Website: What You Need to Know
Martin (Marty) Smith:
Great post for anyone new to ecommerce. As a former Director of Ecommerce I recommend reading this article before opening a store. I made a comment about adding a paragraph about the importance of internal merchandising via cross and up sale and internal search, but the emphasis here is perfect, in the right place and in the right priority.
Everyone Is In The Viral Business Now When everyone is in the “viral business” it is harder for anyone to cut through clutter and have a small thing become a big thing.
Martin (Marty) Smith:
Five tips I wrote about the other day are:
1. Process Is Product. 2. Know Your Content (not all content equally viral). 3. Who You Know, Who You Follow. 4. When To Post Where. 5. Great Titles & Share Breakout data.
best online shopping websites, popular ecommerce stores, list of sites for online shoppers, top ten ecommerce websites, websites like flipkart, amazon, ebay
Martin (Marty) Smith:
A few "new to me" sites on this list along with the usual suspects.
Specialized Roubaix 52 cm - SL2 w/ Mavic Ksyrium SL Wheels (tax deductible) in Sporting Goods, Cycling, Bicycles | eBay
Martin (Marty) Smith:
A Martin's Ride Story When I listed the Specialized SL2 purchased after Martin's Ride in anticipation of another cross continent ride (Canada and that ride probably won't happen) I discussed the FACTS and FIGURES associated with this amazing bicycle.
It was possible to read that initial copy and never know that this bike can save your life or, at the very least, make it more fun (lol). I rewrote the Story of Cancer eBay listing and found the appropriate analogy - Black Mamba.
We may or may not sell the "Mamba", but it was more fun to tell the story than not, more likely to convert too :). The Heath brothers spend a book sharing how to make ideas sticky. Black Mamba conveys the IDEA of the bicycle (fast, FAST and a little scary).
Introduce the NEW and Unknown from the OLD and Familiar seems a strange paradox, but it works. When our copy conveys facts and figures boredom happens. When we find analogies that speak to an objects experience we win.
It is so easy to let our context dictate terms. I was on eBay so I thought facts and figures should rule the day. Nonsense because facts and figures aren't why people BUY. We BUY because we are intrigued enough to overcome our fear of the unknown.
Trust is why the Heath brothers, in Made To Stick a MUST READ for Internet marketers, explain how process creates stickiness. Storytelling that engages the imagination and allows readers to project themselves into our stories as the "HERO" is why products sell online.
Keep your fingers crossed that the "Mamba" finds a new home where someone will love and fear it (lol) since it deserves it and the cash will help the Story of Cancer Foundation work on our many projects (such as CureCancerStarter.org due to launch in October).
Thanks, M
Will King Comment
Received a great comment wiht fantastic eBasy selling advice from Will King on G+:
I will chime in to endorse the idea that story makes the sale more than just facts and figures on eBay. (Full disclosure: I've had an eBay account since 1999 and spent 13 years working for the company.) Over the years, the most memorable items on eBay have been those with great stories attached. Does anyone remember Wedding Dress Guy? weddingdressguy.com/original_ebay_ad/ebaylisting.htmlHow about the Virgin Mary on a Grilled Cheese Sandwich? http://www.goldenpalaceevents.com/auctions/grilledmary01.phpThese and other items over the years went viral mainly because of the unique stories that went with the item (lots of wedding dresses are sold through eBay). Anyone selling that same model of bike can cite the same facts, figures, diagrams and endorsements, but only you can cite your unique experience with that specific bike, why you bought it, and why you're letting go of it. During the early years of eBay, almost every item description was a story ("My Dad's fishing lures…" "My mother's favorite crystal set…"). As eBay has evolved and mass marketing has taken hold, much of that has fallen by the wayside in favor of pre-written product descriptions. While SEO is important to help buyers find specific items they want, telling a unique story about an item will really make that item stand out.
How your inbox is becoming an app. The final conversion of the old internet's last holdout.
Martin (Marty) Smith:
Great post here by John Herman for BuzzFeed (@jwherrman). Email made more money than any other marketing channel when I was a Director of Ecommerce by a full ten points so its evolution is a CSF (Critical Success Factor) for e-commerce shops.
John's intelligent response to WHAT IS NEXT is worth a CAREFUL read for anyone who depends on email marketing to pay the bills. Do I think we are THERE yet (i.e. where John is), no but we are trending in that direction.
If John is a vanguard we Internet marketers need to form up around his ideas. What I would NEVER argue with is how the ubiquitous mobile web is changing email. We know many customers use mobile devices to curate their lives (and throw away non-interesting or poorly designed emails).
The problem with John's future is email is the list that protected the kingdom. Google doesn't own your email list as they do your organic and PPC destiny. How to continue to diversify your Internet marketing profits and portfolio is going to be a challenge.
Our traditional ideas of value and costs are based on outmoded industrial models which no longer apply. It's time we reworked them.
Martin (Marty) Smith:
@DavidAmerland's report is worth a re-read. Combine his ideas with @TrendWatching's new Demanding Brands report and you see a new online retailing, one where we build some friction back in so our customers feel connected, included and valued.
Demanding Brands Report
http://sco.lt/96ZdNh
David's New Value System
http://bit.ly/17qUzdu
Five elements creating an eCommerce store can bring to your marketing efforts. Master marketer Martin W.
Martin (Marty) Smith:
Loved it when Mark made a Haiku Deck out of my blog post. His Hiaku Deck has about 3x the views as the original 1,000 word blog post so pretty good lesson there about visual marketing and the lean content movement.
Gamer Joseph Kim Rocks E-commerce These are the times we live in. Times when one of the most substantial, intelligent and interesting e-commerce and cont
Martin (Marty) Smith:
I built on Joseph Kim's amazing 12 Critical Mobile Monetization Concepts to beat a familiar drum - the sooner e-commerce merchants think like video game developers the more money they will make.
Soon there will be a dividing line between ecom websites that understand how the semantic web. Expect a growing demand for relevance and trust (in visitor intelligence and web savvy) to change website design.
Kim's article, the first of a promised three parter, is an amazing find since it makes the point of how similar video game development and ecommerce is and will become. Once Google UNDERSTANDS our content the more "game-like" it is the more visitors will become buyers.
I've often been asked how teams I've mananged made over $30M online with AOVs (Average Order Values) never higher than $62. The secret is to be five minutes ahead. Kim's post and thinking like a video game developer as you merdhandise your e-commerce website will help your team be five minutes ahead.
Oh, and this next wave, the semantic web wave, is going to be a monster, so surf if you dare :). M
Friends run a great online women's apparel store. This post discusses 5 tips to help aligned their store with the new SEO including:
1. Great First Person About Page. 2. Adding Cross Sale (to help with inventory fluctuation). 3. Create Content Silos (to help with New SEO). 4. Use Scoop.it and Pinterest (great visual merchandising tools). 5. Content Contests (to generate UGC).
These tips could work for almost any online #ecommerce retailer since engagement is the new black in terms of post Panda and Penguin SEO.
Yes, you can produce creative and compelling marketing videos in 15 seconds -- or less.
Martin (Marty) Smith:
Lean content says do more with less. Here is how to do that with video. Great Tips for Vine-like video marketing.
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