E-Commerce and the good old lingua franca: Part One – Translation Posted on 2. July 20151. July 2016 | by Christian Otto Grötsch Photo: hdur Growing up in rural Australia in the nineties and early naughties I would not exactly call myself an internet native, but I was part of the generation who dreamed of electric sheep, a global community and the worldwide availability of – well anything. But maybe because too few of the dreamers ended up becoming decision makers, or maybe most policy makers really are the zombies they look like. Either way, this vision has not (yet) become reality. A lot of business, even in the tourist industry, still don’t offer an English language version of their website. Too many business are approaching e-commerce with the motto “talk global, think local” and it isn’t going to work much longer – we hope. English: More Than Traffic Ignoring the dissatisfied grumblings about linguistic colonialism which inevitably pop up now and again, English has established itself pretty well as the lingua franca of the business world and the anglophone world has benefited significantly from this. Not that I wouldn’t mind if we had stuck with Latin, but considering what e-commerce is doing to my native tongue as it is, maybe Latin is glad to retire into the forgotten (perhaps repressed) realms of the private school classroom. Businesses, especially in the service industry may not reap immediate benefits from an English language website in terms of turnover, but it is an essential part of brand building. Even with Chinese growth in the e-commerce sector, Manderin is not going to become the international language of business any time soon. In fact, English skills are no longer even a nice competitive advantage – they are a basic requirement in international business. Before investing in staff training, an English language website and project documentation is always a good start. And so the search for translation starts… Cost in Translation Translation comes in many shapes and forms. There is the don’t go there (a staff member with overseas experience), the really don’t go there (an intern with high school English), and then there is good God what where you thinking! – Google translate. Many companies fall back on these options though because professional translation appears to be prohibitively expensive and it can be. The going rate for a state certified translator varies from approx 1.5€ per line to 20 cents per word. But this service is only necessary for documents requiring a certified translation – which is rarely the case in day to day business. In the long run, employing a bilingual native speaker is the best alternative. International students are an option, but will only be with your company a year at a time. Finding a native speaker with long term residency in your country is the best option, though not always easy. Advantages of In-House Translators In-house translators are cost effective June was not a particularly busy month for me with 1727 lines of translation. At a modest fee of 1€ per line, that’s still a lot of money – at a fee of 20 cents per word, it’s even more. As an employee doing 12 hours per week, I cost a lot less than that – a lot less. If there is a large amount of documentation for a client on the table, the difference can be as much as five thousand Euros in a month. But don’t forget that translation is a skilled profession and bilingual native speakers don’t grow on trees – not every native speaker can speak your language fluently and not every native speaker has plans to stay. You’ll never to able to pay your translator what they’re worth or even their freelance hourly rate (that’s kind of the point) so don’t be too stingy on their pay package. Company Native Translators Work More Effectively Every company naturally develops its own writing style and way of doing things. Being part of a company for a long time makes it easier for your translator to work quickly and to keep the context of their work in mind. Native Speakers are Multi-Purpose The position description may require a translator, but once you’ve got a native speaker in the house, they can proof read, write original content, train others, and answer questions for all the other staff as well. Continue (No Ratings Yet) Loading... Categories E-Commerce
Why KPI systems should be house made Posted on 1. July 20151. July 2016 | by Christian Otto Grötsch This is how you structure KPI docutmentation – ideally. Graphic: dotSource GmbH There are areas in (online) business in which copy/paste as a strategy has gained a certain raison d’être. But this does not apply when defining business metrics. Every company is different, which is why different KPIs are important. Each has its own priorities and challenges to overcome and this should be reflected in the business metric portfolio. This is why it is hardly possible to compare numbers from different companies. A newsletter opening rate of seven percent is a letdown for one shop manager, for another it’s a success. It’s the same with the number of newsletter subscribers. a niche provider in B2B would value 10,000 subscribers differently to a B2C bargain portal. Even within one branch and among direct competitors, comparisons should be taken with a grain of salt. For this reason, the goal is to become your own yard stick and to view historical data in context. In this way, >>common knowledge<< can be tested. For instance, it is conceivable that new customer acquisition is not always more expensive than reactivating existing customers – at least in some channels, customer segments, or branches. The company is broken down to its individual parts, which simplifies goal achievement. Goals becomes measurable and the steps towards achieving them visible. KPIs can depict the entire company and quantify it, because all its part build on each other: For the entire company Each channel (advertising, sales, communication) Each campaign Each department Each staff member This goals aren’t just for the company as a whole, but are part of each measure and campaign: which campaign measures had the best cost/benefit (e.g. print vs. web format for acatalogue) / the highest ROI? The complete marketing budget is the sum of all campaigns. This is part of the company’s profit/loss calculation. How should KPI documentation be structured? Looking at KPIs, you quickly hit the question: how many statistics are actually important? At what point it is too much or not comprehensive enough? There is no simple answer to this question, as a look at the plethora of systems, channels, and departments makes impressively clear. The only point of orientation when selecting and systematizing business metrics is your own company strategy. Because each company (and each department in that company) has to find their own system, it isn’t possible to automate all reports and tailor them to external requirements right at the start. This has to happen step by step and be developed constantly. Continue (No Ratings Yet) Loading... Categories E-Commerce
Dollar Shave Club vs. Gillette – Who Is Overtaking Whom? Posted on 30. June 2015 | by Christian Otto Grötsch It is over three years ago that we last wrote about the razer blade subscription service Dollar Shave Club. Back then, they made a name for themselves with their viral video. In Germany even reBuy was inspired by the way the video was made. Since then, the startup has extended its portfolio and now covers all the products a “man” needs in the bathroom. The basic idea, a cost-effective razer blade home delivery subscription, remains. As has their inability to break even with this model, despite over 2 million subscribers. Continue (No Ratings Yet) Loading... Categories Reading Tips of the Week
Taylor Swift vs. Apple – or what happens when a brand finally listens Posted on 25. June 2015 | by Christian Otto Grötsch Photo: Dean Hochman People’s trust in retailers has had to survive some painful blows in the past few years. Absurd standardisations, packaging and waste madness have been increasingly condemned in the media, who blame the ambitions of traders. The principle of planned obsolescence is public knowledge and has had a negative impact on expectations for product quality. Work conditions and pay, especially in the logistics sector, are perennial media favorites. On top of this, there are the data privacy scandals and a general mistrust of what happens with personal data online, while data hunger is increasing. The result: customers feel powerless and that they’re at the mercy of big companies. So… what does that all have to do with Taylor Swift? Customers’ trust is harder to gain than ever. New ways of dealing with critique have to be found. Continue (No Ratings Yet) Loading... Categories E-Commerce
Social Network Links – It Depends on the Branch Posted on 24. June 2015 | by Christian Otto Grötsch Warning: Undefined array key 0 in /var/www/html/wp-content/themes/dotsource/functions.php on line 1070 Only 25% of marketers choose not to link to social media on their website. But it’s not how many websites link to social networks which is interesting, but what branches are doing it. Continue (No Ratings Yet) Loading... Categories E-Commerce
What social networks does my target group hang around on? Posted on 24. June 201521. January 2022 | by Christian Otto Grötsch Graphic: Marketingprofs Who shares what, when, and where? Once you’ve tailored your online shop for your target group, you should take a closer look at the world of social media: lots of factors – from the use of particular networks to the frequency with which things are shared – play an important role in identifying the target group on Facebook, Twitter etc. If your online marketing concept designed to address the “rich kids”, you should focus on Instagram. According to a new study, this is where the richer kids happily post selfies and pictures of healthy lunches. What are my fans and followers on social networks like? An infographic answers this question and introduces 6 difference target groups who use social media for different reasons. Continue (No Ratings Yet) Loading... Categories E-Commerce
The Evolution of the Fashion Industry: Zalando has also Discovered the Crowd Posted on 23. June 2015 | by Christian Otto Grötsch Screenshot: Zalando @ Instagram E-Commerce is is moving the fashion world to news ways of thinking – and vice versa. You feel this in the way fashion topics often outweigh everything else at innovation oriented conferences. E-Commce has long been more than just a sales channel; it offers fashion retailers and brands new opportunities to present themselves. From a customer perspective, online shops have transformed from a more comfortable catelogue order and way to cover your needs to source of inspiration. Recently, development has been taking the next steps: fashion traders are increasingly bringing everyone involved in the fashion world together on their platforms. Brands, trendsetters and customers make a fashion lifestyle a shared, tangible experience. Nothing works without fashion bloggers, photos from the crowd, and social media platforms like Instagram and Interest anymore. And while shoe veteran Deichmann has already brought the third blogger collection to the market, Zalano is waking up and opening up to the crowd: with Style In Real Life, they’re giving the “model” next door an immediate platform. The buy button is hot on its heels. Continue (No Ratings Yet) Loading... Categories E-Commerce
Unintended A/B test in checkout: how the competition can profit from the post office strike Posted on 19. June 2015 | by Christian Otto Grötsch Photo: J. Triepke The current post office strike affects online retailers too. After all, the last few steps have the potential to be the most frustrating in distance trade. A strike, and the delivery delays which go with it, is dangerous for traders’ service promises. Traders commonly find alternative service providers, like Hermes to put in as standard shipping service at the checkout, while things are tight at the post office. This is often not what was intended – quite a few of these companies don’t have the best reputation. But what happens which conversion rates sky rocket as soon as customers are offered a different shipping provider? At the Logistics and Returns conference, I heard about this happening from several traders. They are now deciding on whether or not they should change back after the strike at all. Is the post office losing their standing among Germany’s businesses? Will the strike do more longterm damage than they thought? E-Commerce is the growth driver in the logistics segment. I would be interested to hear about the experiences of our readers: how are you reacting to the strike? Is a change of service provider also making a real difference at the checkout? Continue (No Ratings Yet) Loading... Categories E-Commerce
E-Commerce in Switzerland: Rosy outlook, despite Euro devaluation Posted on 18. June 201521. January 2022 | by Christian Otto Grötsch Graphic: Kosala Bandara It is always worth taking a look at our neighbours. The Swiss e-commerce branch has been having a particularly hard time in the past few months: the rise in the value of the Franc and strong foreign providers are shaking the market. Despite this, Swiss online shops have a positive future outlook, if you believe one recent study by technical university Nordwestschweiz FHNW. The largest online shops in Switzerland, like ricardo.ch and geschenkidee.ch participated. Alongside the ever present mobile, the study looks at the digital transformation in the area of ticketing as their yearly focus. The study examines the sale of tickets in online shops and their following use in traffic and at events. The magic word is often “mobile” here as well. Continue (No Ratings Yet) Loading... Categories E-Commerce
The problem with dynamic pricing: when women pay over 80 percent more Posted on 18. June 201521. January 2022 | by Christian Otto Grötsch Graphic: John Y. Can The sociology of gender sees itself as a pioneering when it comes the equality of man and women. But this kind of enlightenment has had relatively little effect on trade so far. Here the motto is still: blue is cheaper than pink. As soon as demographic data is used in dynamic pricing, price setting becomes discriminatory. Continue (No Ratings Yet) Loading... Categories E-Commerce