Archive for August, 2009|Monthly archive page

This blogging business really does pay!

Keen London blogger Paul McCrudden is cashing in on the success of internet blogging. Blogging is becoming ever more popular and is a great resource for keeping people up to date and informed with the latest news. With companies fighting each other for customers, now more than ever, any coverage and reviews they get are a big bonus.

McCruddon’s blog, Six Weeks, details the time he has spent sitting, viewing, queueing and waiting in restaurants, the Post Office, on the Victoria Line, watching TV and in sandwich shops over a six-week period.

According to his calculations, he is owed more than £6,000 for time lost. McCruddon has now written to more than 50 companies, and invoiced them for the amount of time he has spent with them.

Pret A Manger is the first company to have paid McCruddon – the sum of £62 – while the managing director of the fruit and nut stall Cranberry is now demanding McCruddon pay him for time spent reading his letter and blog.

McCruddon claims to have engineered the scheme in order to examine how he spends his life as a consumer as well as to challenge the general assumption that consumers are subservient to brands. (quoted from campaignlive.com)

So while Pret have noticed the power of letting its customers advertise the company through word of blog! And have grabbed the coverage for being the first company to appreciate its customers voice, we wait to see if any other companies jump on the bandwagon and cave in to McCruddons claims.

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The consumer cycle and retention

Not following up is one of the biggest marketing sins you can commit. Here are some statistics which should scare the living daylights out of all of us.

48% of businesses never follow up with a prospect

25% of businesses make a second contact and stop

12% of businesses only make three contacts and stop

It’s a staggering discovery, but only 10% of businesses make more than three contacts. It means they’re losing a small fortune – and you could be too/

Because…

2% of sales are made on the first contact

3% of sales are made on the second contact

5% of sales are made on the third contact

10% of sales are made on the fourth contact

80% of sales are made on the fifth to twelfth contact

So if you’re like almost half of all businesses and make no more than one follow-up to your prospects… you’re leaving 98% of your income on the table for someone else to come along and pick up.

If that wasn’t bad enough, here’s why it’s even worse than you think. Look at these eye-opening statistics about why people stop buying from businesses:

1% die.

3% move away.

5% follow a friend’s or relative’s recommendation.

9% find an alternative they perceive to be better quality or value.

14% are dissatisfied with the products or services.

And a massive 68% of people leave a business because of…  indifference.

They take their business elsewhere simply because they do not feel valued.

Since you spend a lot of time, money, and effort to get a visitor to your business, if you let them leave because of indifference, you might as well be flushing £10 notes away.

Vague, cost conscious or window shopper?

87% of shoppers abandon shopping baskets, but 75% plan to return

Three quarters of consumers plan to return later to purchase items they add to a shopping basket and then abandon, according to new research from Amaze and the University of Glasgow

The researchers looked into the psychology of online shoppers and identified the personalities of three types of online shopper — vague, cost conscious and window shoppers.

42% of shoppers were labelled as ‘vague’ because they seek more information from other people before completing the purchase and stated that they ‘wanted to think about it’ or ‘consult with someone first’. Cost conscious shoppers accounted for 42% of customers and often cited ‘high postage’ costs or ‘found the item cheaper elsewhere’ as reasons why they didn’t complete the purchase.

The research found 16% of people surveyed could be labelled as window shoppers, with no intention to purchase, and claims that these customers should be discounted from online retailers’ abandonment rates.

“While techniques can be used to convince ‘vague’ and ‘cost conscious’ shoppers to buy, it doesn’t matter what retailers offer the ‘window shopper’ type of customer; they are there to browse, not spend money,” says Amaze’s Tunde Cockshott. “They experience the pleasure of shopping but without the pain of paying.”

“Retailers can stop scratching their heads trying to work out why shopping baskets are being loaded up only to be left at the checkout because there’s nothing they can do except exclude these visitors from their abandonment figures,” Cockshott added.

Shopping basket abandonment was more common for books, movies and music, but less likely around more expensive items including clothing, jewellery, electrical and computing products, the researchers found.

“Online retailers need to realise before they invest in behavioural targeting technology that the psychology of the shopper plays a key role in encouraging potential customers to complete their purchase,” says Cockshott. “Online stores could present hundreds of products that they believe their customers might like but if they’re window shopping, they’ll just walk on by, just like in the real world. While window shoppers will remain a fact of life in the real and virtual world, it’s now more important than ever that stores focus on human psychology rather than analytics if they are to get their share of the online consumer’s wallet.”

New Website Launched!

PomeMailer has been offically launched as a stand alone website offering indepth information on our email marketing solution.

The website features a collection e-shots, the benefits our using the PomeMailer system along with some huge system updates, including powerful audience profiling and geographic mapping. PomeMailer itself is currently undergoing development, to be re-released late summer 2009.

Visit the site at www.pomemailer.com and let us know what you think!