Key performance indicators (KPIs) enable companies to measure the progress of important targets. Digitally transforming companies are increasing the practice of widespread management/controlling many times over. It’s no wonder that this is one of the most popular topics in current business. And in our white paper »KPIs in E-Commerce« we get to show you what to look out for. It’s no wonder that this white paper, previously only available in German, is one of our most popular downloads to date.
Digital business is people business. And if you want to be successful in digital business, you need people around you who share the spirit, who (gladly) do a good job, who are open to ideas and new ways. These people, who develop and design for other people, include not only a company’s employees but also strong and trustworthy partners, without whom the sustainable creation of digital customer relations wouldn’t be possible. We feel this every day and are all the more pleased that we have not just been able to expand our partner network in recent years, but also that our partners appreciate the cooperation with us. Just like the MDM solutions specialist StiboSystems, which distinguished us as the »Rising Star of the Year«. Thank you, StiboSystems. We’re still blown away.
Business goals are often explicitly defined: 10 million euros in revenue by 2022! Five per cent more traffic in the third quarter! An important key performance indicator (KPI) for achieving business goals is the conversion rate AKA the measurement that compares the amount of traffic and the amount of traffic that completes a certain goal you’ve set, like signing up for a subscription, newsletters, or even completing a purchase.
Page loading times are the biggest influence in e-commerce for a user’s conversion rate. In our latest Handelskraft series, »Conversion optimisation – Tips for a better user experience and more success in e-commerce,« we’d like to show you what’s possible when trying to increase conversion rates and reaching business goals. Part 1 starts with a foundation for effective conversion optimisation, which is best based on professional support in three major areas, conducting user research, commissioning a UX audit, and testing user behaviour.
There are products or services that are more often needed for a limited time only. So it’s not only more advantageous, but also more environmentally friendly, not to pay for the products per se, to own them forever, but to have access to them. That’s the sharing economy. Classic examples are cars, accommodation, or tools. And the list is growing.
As the »conscious consumption« social movement’s popularity increases, so does the need for users to constantly buy goods or services. This is especially noticeable among young consumers. But that doesn’t mean that they want to give up consumption completely, but that they’re making purchasing decisions more consciously. Brands are responding to this trend with various business models, such as second-hand or online rental services. The Otto Group and MediaMarkt from Germany have been paving the way for several years.
Today, we’ll explain to you with the help of further use cases, what is moving this young, dynamic market.
In the virtual eyes of intelligent systems, human beings are first and foremost the sum of their data. Moreover, in times when they increasingly satisfy their everyday needs digitally, humans increasingly becomes the sum of their actions: What does they consume, evaluate and share when, from where, and with whom?
Whether Work 4.0 or New Work, the way in which attractive and successful workplaces in the digital age should look is still a trending topic. It’s not just about how you, as a company, can stand up to the pressure of innovation, but also about how, with the help of the right corporate culture, you can ensure that everyone involved works happily and well. Be it a question of time, the right tools, or the right rooms.
This connection of people, space, and technology forms the basis for turning trends into innovations to create added value for the business as well as for users. And users, not just the customers, partners, and suppliers, but above all, employees. What it takes to make »could’ve, should’ve, would’ve« also be a successful corporate practice, and which organisational and team concepts are increasingly prevailing, we’d like to briefly introduce today.
Europe. Users, retailers, service providers, and politicians are looking at the continent. Not just because of the EU elections last week, but also because of Europe’s role in promoting a smart, secure, and unified digital economy through measures in various key areas such as artificial intelligence, privacy, and security in e-commerce.
The GDPR had its first birthday on Saturday. And the deadline for the implementation of Payment Service Directive 2 (PSD2) will be on September 14, 2019. This requires strong customer authentication (strong customer authentication, SCA for short).
The aim of PSD2 is to create a secure, transparent payment system and to ensure fair competition within the EU, as well as to reduce entry barriers for payment service providers.
But so far, just under a quarter of German retailers have implemented its strategies developed for it. 21 per cent haven’t planned any approach. Additionally, many online retailers don’t think they have enough info about this. Not a good thing when time is running out and further questions will arise. That’s why we’re trying to bring light in the darkness.
How do you perform successful digitally? It’s a little bit like school. With practice and diligence everything works much better. Translated into the question of how to properly manage and diligently analyse the flood of data today, many companies think that their enterprise resource planning system, or ERP for short, serves as a cure for everything.
But that’s only partially true. The purchasing manager of a construction company, for example, who is responsible for purchasing and procurement processes and supplier management in day-to-day business, rightly works with the ERP system as the central data solution for their transactional data activities.
The situation is similar to the quality assurance manager. But in work areas such as marketing or sales, other data are at the centre of interest. Customer data. The software market also offers a technical solution for this data, Customer Relationship Management (CRM). But wouldn’t it be much more interesting to be able to collect all the data at one point and also be able to relate to each other?
Digitisation and consumption are inseparable. Every technological advance responds to the rising expectations of consumers. If a need is fulfilled, routines change and more is expected. So the innovation and consumption cycle starts over again. Things are expected to get faster, have a greater impact on our habits AND our environment. More and more consumers are taking protecting the planet seriously – even with regard to companies they do and don’t trust.
Brands, dealers and manufacturers face several challenges. They need to keep up with the pace of the digital age and rising customer expectations, but also with their growing desire to consume them consciously and sustainably.
From search to inspiration to final purchase, mobile users interact with multiple touchpoints along the entire customer journey. Consumers currently have less time and more and more options to choose from. The goal for companies is to reach customers at the right time with the best offer.
It’s also reflected in the way that advertising looks today, where and how it works. It’s in tempting and highly consumable formats, it’s a staple of customer engagement, winning through mobile, seamless experiences on and between every channel. Not to mention their functionality as a success.
Two weeks ago, Google presented its new advertising formats at the annual Marketing Live Conference. A clear trend emerged. In addition to AI, visuals are becoming more and more important in the world of online advertising. Which formats are specifically involved? We’ve put together the most important innovations for you.