Welcome to the first edition of The eCom Marketer newsletter π
Hi Hi,,
Welcome to The eCommerce Marketer! We're so happy you're here π
In this edition, you can look forward to the following updates:
Tips for the best platform to maximize your eCommerce conversion rate
Another big shout for the massive value in upper funnel advertising
2024 projections and insights from UK's DTC leaders
Challenges and opportunities for retailers and consumers in 2024
Read on for more!
Maximizing eCommerce CVR: platform breakdown
The question of which eCommerce platform to select is a big one.
Do you go for an off the shelf solution like Shopify or Magento? And which one? Or do you go all in and build an expensive but super flexible custom front end?
Fospha's data team is here to help. This latest report looks at all of these options with a few lenses:
π Which platform delivers the best conversion rate?
π Which platforms are most popular with scaled brands?
π Which platforms have the highest retention rate?
Choosing the right platform is not just about the tech, it's about aligning with your strategic goals. π―
Check out the in-depth analysis to stay ahead of the curve! Read more
The Year Ahead: Why Brand Marketing in 2024 is Unmissable
Brand marketing has been a badly-kept secret in eCommerce for the years since iOS 14. It's poised for mass-market takeup in 2024 as performance marketing costs rise and privacy regulations continue to impact targeting.
Key takeaways:
Fashion brands prioritise brand marketing due to rising costs and privacy regulations. π·οΈ
BoF-McKinsey survey shows a shift with 72% plan increased brand marketing spending. π
Success involves authentic storytelling and memorable experiences for lasting customer affinity. π€
Brands using Fospha know that brand and awareness advertising is key to eCommerce success. It's nice to see other industry sources supporting this too.
The resale market is projected to account for 8% of the total retail market by 2028, up 2% from 2023. Resale platforms like Poshmark and GoodwillFinds are enhancing holiday shopping experience. Read more
π΅ Digital Wallet Dominance:
70% of consumers prefer to pay with digital wallets when shopping at a new store. This preference is even higher among younger consumers, with 78% of millennials and 82% of Gen Z preferring this payment method. Read more
π Programmatic Advertising Puzzle:
The Association of National Advertisers (ANA) reports that only 36% of programmatic advertising spend reaches consumers. The rest is lost to ad-tech costs and low-value environments. Marketers could save $22 billion by adopting better programmatic strategies and consolidating spending. Read more
π Advertising Forecast:
Dentsu, GroupM, and IPG's Magna predict a 4%-7% global ad spend growth in 2024, driven by the U.S. presidential election, retail media, digital advertising, sports, and connected TV. Read more.
π Super Bowl Advertising Frenzy:
Nearly all advertising slots for Super Bowl LVIII are sold out at CBS, with ads priced between $6.5 and $7 million. Brands like Pringles, BMW, and Oreo are participating, and the game features a halftime show by Usher sponsored by Apple Music. Read more.
Projections and Insights from the UK's Most Disruptive DTC Leaders π
As we approach 2024, the eCommerce landscape is primed for significant shifts, industry leaders in the UK's eCommerce performance marketing space share their insights and predictions on the trends, innovations, and challenges that will shape the eCommerce industry in 2024.
Projections include:
a shift towards a creative-first strategy for brands on paid social π¨
the rise of UGC and creator ads π·
the importance of alternative measurement methods and upper-funnel marketing π
the impact of inflation on acquisition costs πΈ
the role of authentic creators in driving sales on TikTok π₯
the increasing sophistication of media platforms with automation and AI π
Consumers, Retail and What to Expect in 2024? Itβs Tricky π€Ή
In 2024, retailers face inflation concerns but must cater to consumers' year-round value-seeking behaviour. Shoppers, satisfied both in-store and online, use digital tools to seek deals, emphasizing personalized, targeted offers.
Key takeaways:
Retailers must address year-round value-seeking behaviour amid inflation concerns. πΈ
Shoppers leverage digital tools for personalised, targeted offers, so GenAI could be key as a hyper-personalisation tool. π±π€
Strategic consumers prioritise long-lasting, affordable items, with generative AI for hyper-personalised content. π―
ποΈ PODCAST: Canβt make head nor tail of headless?β―π
Our friends over at β―The Growth Foundation do a deep-dive into the dynamic realm of e-commerce technology.β― π»
Join them as they navigate the evolving landscape, shedding light on cutting-edge innovations like headless and composable systems.
π Key Takeaways:
1οΈβ£ Stay Competitive: Learn why staying informed and adaptable is essential in the ever-changing e-commerce technology landscape.
2οΈβ£ Power of Innovation: Discover how headless and composable technologies are revolutionizing e-commerce, providing unmatched customization and growth potential, particularly for direct-to-consumer (DTC) brands. 3οΈβ£ Transition Strategies: Thinking of moving from traditional to headless systems? We discuss the process, potential challenges, and considerations, offering insights to guide your business towards greater flexibility and personalization.
π€ Special Guest: Sean from Verse, an industry expert, shares invaluable knowledge, navigating us through complexities, opportunities, and potential pitfalls.
Whether you're a Fospha customer or not, we'd love to knowβ―your 2024 marketing plans,β―so that we can optimize Fospha to help YOU the best we can. Just scan the QR code above to get started, and potentially win Β£150 - good luck!
