“It is easier to invent the future than it is to predict it.”
This variation of a quote by computer scientist Alan Kay was the last line of a 1994 job listing written by Jeff Bezos, and still holds true to this day. While Redstage’s team of forward thinkers possess a knack for accurate predictions, we’ve also helped shape the future of ecommerce through our mobile research initiatives.
Throughout 2018, our team made strides to advance the cause of B2B ecommerce, offering insight into new technology, mobile commerce, and the millennial customer experience. We remain dedicated to helping clients and readers alike stay informed of emerging trends and the strategies you can use to master them. With this said, here are the top insights and articles of the past year:
“B2B ecommerce has several types of customers, each with their individual requirements for how they define their success. These customer types include B2B consumers (the company plans to resell the product or service to them). Other customer types include wholesalers/distributors who will sell your products and services to other B2B companies and dealers who sometimes resell the company’s product for them. Knowing your customers, here’s a few things to consider when selecting the best e-commerce platform for your online store.” — Read More
“Will it be the illustrious AI, the illuminating abilities of augmented reality, delivery drones, or perhaps… chatbots? With the emergence of all this new tech, marketers are left to base their budget allocation for 2018 on speculation. As a result, I am inclined to believe that without a doubt, 2018 will be somewhat of a plateau for marketing; defined by a knowledge-gap surrounding new avenues for advertising and the deteriorating value of current methods. Here’s why…” — Read More
“At this very moment, it’s likely that retail executives around the US are screaming about their Black Friday and Cyber Monday sales performance. For some, these sounds resemble a triumphant war chant. For others, these are the shrill cries of defeat. The reason? Mobile-first adoption. No matter where you stand, this data changes the ecommerce landscape. Here are the latest stats and key trends from the long-weekend of holiday sales events.” — Read More
“The development of AI and Big data, in recent years, has given online retailers both opportunities and challenges. In the next decade, digital stores will be equipped more optimized tools based on AI, and through this, they are empowered to strengthen customer relationship and enhance customer retention. This is a technology competition and I believe that the one who wins the game will also win the customer’s heart.” –Read More
“Today, a single blogger has the same opportunity to get a million comments on a post as Walmart does. A mom and pop online store has the same chance of winning over customers as Amazon. Time, resources and budget notwithstanding, the Internet provides a fair medium for all business to compete, and we owe the state of our world to this universal marketplace of ideas… With the Net Neutrality repeal in effect, major changes are coming that will affect every businesses, especially in the world of advertising and ecommerce.” — Read More
Top Case Study of The Year!
Check out our most viewed case study of the year: White Mountain Footwear. If this were a blog post, it would hold the #3 spot above!
Top Download of The Year!
Take a look at our Digital Sales Engagement Ebook, our most viewed downloadable of 2018! Discover all the tools you can use to optimize your digital sales team and top tactics to revolutionize your digital acquisition strategy.
Can’t find info on a specific topic? Send us a message and we’ll help you find it, or we’ll add it to our content schedule! Our team of researchers and thought leaders are always looking for ways to best serve our readers. Visit our blog page to subscribe!
Earlier this year, Clutch.co awarded Redstage with the titles of Top Ecommerce Developers, Top Magento Developers, and Top Shopify Developers in New York. Yesterday, Clutch.co announced Redstage’s as a Global Leader in B2B Business Services for 2018.
In the few short months since the last announcement, the hard work and determination of our teams around the world have earned us the title of “Top Global B2B Company for 2018” and we thank our clients for all of their support. Redstage is now a Clutch Global Leader, part of the Clutch Global 1000, and ranks number 2 for Top B2B Magento developers and designers in the world.
This announcement comes soon after Redstage was ranked among the Top Ten Best Ecommerce Web Design Companies by WebDesignRankings.com for the second consecutive year. Additionally, the agency has also been listed on Clutch’s sister site, The Manifest, as a Top Magento Company of 2018!
Our team is thrilled to wrap up the year with these distinguished accolades. We look forward to continuing our strong B2B practice in the year ahead! Thanks again to our clients and partners for your collaboration, trust, and positive reviews. These awards would not be possible without you. It is a pleasure and an honor to share in your success.
A well curated eCommerce email list can provide your online store with recurring revenue and provide you with a strong competitive advantage. Realizing that value, however, is highly dependent on how you use it, and a variety of factors that can make or break your bottom line. In 2016, the average open rate across industries was 25% of recipients. If you can reach that number or improve upon it, you’ll see incredible benefits. But how can you get there?
Email marketers employ many useful strategies, such as email verifier tools, list segmentation, performance tracking, and critical CX details Redstage covered in last week’s webinar with dotmailer (video). However, there are four specific types of eCommerce emails that can lead to high conversion rates and drive repeat customers. Implementing each of these is a low-cost investment that, when done correctly, can lead to an extremely high return.
1. Ecommerce Email Up-Selling & Cross-Selling
These types of emails are among the most lucrative in the world of eCommerce email marketing. This becomes clear when you compare the average 25% open rate to the 61.7% seen in post-purchase emails. These can be sent out in a variety of ways, but the following are two of the most common:
Follow-up with receipt: include a discount or exclusive offer with post-order receipt or other custom transactional emails, incentivizing repeat purchases and customer referrals.
Follow-up with similar items: when a customer purchases an item in a given category or collection, you can send a follow-up email promoting related items (think of Amazon’s “frequently bought together” up-sell strategy).
2. Loyalty Programming
Building a relationship with your customer is extremely important to the long-term value of that customer, and email marketing is a great way to overcome this issue. Here are a few ideas to get you started:
“We’ve Missed You”: If a customer hasn’t returned to your store in a while, send them an email that includes a promo code and an easy way to opt out of future communications.
Personalized Life Events: Many businesses collect information about customers in order to provide them with personalized service. Consider sending a birthday email, along with a discount eligible for that week or month.
Restocking: If your business sells replenishables (like air filters, motor oil, and engine belts), launching automated emails at certain intervals can help keep your brand top of mind when supplies need to be replenished. How long does it take your average customer to go through a gallon of cleaning liquid?
3. Incentives and Promotions
Letting your customers know about a sale or limited-time offer is a tried and true method for driving traffic. Whether you’re offering holiday deals, announcing a new product line, or sharing an exclusive offer, customers are much more likely to be interested if they’re getting a unique product or price. These kinds of emails become critical for B2B buyers, who are always looking for easier ways to find the best product and price. Promotional campaigns like these are often extremely successful. In fact, according to Coteries Lab, “44% of people who received targeted emails acknowledged buying at least one item because of promotional message.” Emails advertising a discounted price have a conversion rate of over 1%, and a 9.68% click-to-conversion rate.
4. Win-Back Campaigns for Abandoned Carts
Customers will often be interested in an item, add it to their cart, and then fail to complete the purchase. This lost revenue can be reclaimed simply by reaching out through abandoned cart emails. Something as simple as “Hey, you forgot!” or “Check out now for 5% off your entire order!” can help turn abandoned carts into solid sales. As you might expect, these are among the most efficient emails in terms of conversion, especially when combined with discounts.
While email marketing platforms can help you target any segment of your customer base, these are some of the most common ways marketers use email to reach out. Each option offers a great starting point for strong B2B eCommerce email marketing campaigns. These four methods can have a quick, significant effect on your overall sales. Having trouble with your email marketing? Need a recommendation on what platform is best for you? Ask the experts at Redstage!
About Our Guest Author:
Rae is a graduate of Tufts University with a combined International Relations and Chinese degree. After spending time living and working abroad in China, she returned to NYC to pursue her career and continue curating quality content. Rae is passionate about travel, food, and writing, of course.
So, it finally happened. The South Dakota state government can now charge eCommerce sales tax for online businesses.
This morning the US Supreme Court announced the 5-4 ruling, overturning a 1992 decision (Quill Corp v. North Dakota) that barred states from collecting sales tax from businesses with “no physical presence” in their state. The high court ruled against Wayfair, Overstock.com, and Newegg, sending their stock price into a fall (along with that of Amazon, Etsy, Ebay and more). As a result of the ruling, many fear the gates have been opened for all 45 states that collect sales tax to use the Wayfair decision to charge Internet sales tax. When this happens, online shops will likely begin charging customers at the checkout, driving up eCommerce prices for customers.
However… Consumers are already required to report their online purchases and pay the applicable taxes. According to CNN, “Last year, states could have collected as much as $13.4 billion in additional online sales taxes, according to the General Accountability Office. Although buyers are technically supposed to add up their purchases and pay all the applicable taxes along with their regular filing, few do.” As a result, some argue this decision is fair, especially when one considers eCommerce’s massive impact on the U.S. economy.
In the majority opinion, Justice Anthony Kennedy wrote, “The Internet’s prevalence and power have changed the dynamics of the national economy.” He also mentioned the need for states to collect the tax as digital retail continues to explode, saying, “The expansion of e-commerce has also increased the revenue shortfall faced by States seeking to collect their sales and use taxes.” With eCommerce poised to make up 17% of US retail sales by 2022, the ruling makes sense now more than ever.
The likely winners in this scenario will be states who can now collect the online sales tax (many more to come), and Amazon, who has been paying state sales taxes for years. While the decision will hurt smaller, non-monolithic eCommerce businesses, Amazon’s competition will now likely face the same tax requirements, keeping Amazon even still again, ahead of the curve.
For now, in South Dakota, the law will only apply to eCommerce sites with more than $100,000.00 in sales revenue from commerce within the state. The state now stands to gain an additional 50 million dollars in revenue annually from the tax. Lastly, as CNBC reports, “[the] states that are likely to see the biggest percentage increase in revenue are Louisiana, Tennessee, South Dakota, Oklahoma and Alabama, according to the Barclays research.”
This week, Eric Dye of the Entrepreneur Podcast Network interviewed Redstage CEO Adam Morris on the coming B2B eCommerce revolution. In this episode, the pair discuss the latest trends, market news, and strategies for companies who “NEED” to adapt to the new standards of digital commerce. Click play above to listen now or follow the link at the bottom to download the podcast. Happy listening!
Insights included in this entrepreneur interview:
1. “What does the B2B eCommerce market look like and why is B2B super hot right now?”
2.“How is B2B eCommerce different from traditional online retail?”
3.“What are the main roadblocks for companies going digital?”
As a digital entrepreneur, Adam Morris has been working alongside Anthony Latona (Redstage’s CMO) since their university days. The duo co-founded several businesses together over the years, most recently Redstage, which started in 2008. As Morris recalls, “All of our businesses revolved around online commerce, and we’ve had a knack for being ahead of the Internet business curve. Redstage is an eCommerce agency that specializes in web design, development, strategy and support for B2B and B2C clients all over the world. As part of the Fulcrum Family of companies, we have over 700 employees on 5 continents. For the past 10 years we’ve been transforming companies through eCommerce, now focusing primarily on Magento and Shopify. With B2B eCommerce set to explode before the end of the decade, we’re ready to take on the biggest challenges facing the world’s largest companies – especially when it comes to tackling the transition to digital, something we’re quite good at.”
If you enjoyed this podcast, check out this post on MagePlaza about our developers’ biggest “B2B Pet Peeves” (the top 4 signs that a B2B site needs to upgrade).
We’re excited to announce a new partnership with Akeneo, a leading provider of product information management (PIM) software.
Akeneo is a fast-growing software company that offers an open source PIM (Product Information Management) solution that dramatically simplifies catalog management processes. Akeneo PIM makes it is easy for B2B and B2C retailers and brands in any market to collect data from any source, enrich and control the quality of product information, and distribute it to multiple channels such as e-commerce, mobile, print, and points of sale. As Redstage’s latest industry partner, the two companies plan to strategically align initiatives to maximize value for online merchants.
While many eCommerce companies start out managing their product information with spreadsheets, they soon find out this method is unsustainable, but only when it’s too late. When trying to scale, companies find it difficult to properly manage an ocean of spreadsheets across sites, brands and more. This inevitably leads to a perpetuating, toxic cycle of improper product information being shown to customers, leading to a boatload of issues.
Unlike spreadsheets, the Akeneo PIM is custom built for managing product info across websites, eCommerce platforms, print catalogs, points of sale, mobile apps and more. As a result, the companies that switch from spreadsheets to the Akeneo PIM report a 50% increase in productivity, 30% increase in data quality, four times as many conversions, a faster time to market and lastly, lower return rates.
A Strategic Partnership
As a technology-forward eCommerce company, the Redstage team is on a constant search for the latest and best tech to simplify and streamline our clients’ processes. We look forward to working with the Akeneo team and sharing the incredible advantages of their platform with our clients.