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The 6 Most Effective Types of Social Media Advertising in 2017

BigCommerce

Even if you can’t achieve net positive revenue on the initial sale, referrals, email marketing and customer retention can payoff extensively with every marginal customer. This is why global social ad spending doubled from $16 billion in 2014 to $31 billion in 2016 and is projected to increase another 26% in 2017.

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How E-Commerce Companies Can Compete in an Amazon-Dominated World

Kissmetrics

Some may tell you that even if you can’t compete with their scale, you can compete in other ways, like offering competitive discounts and free shipping for your own customers. But in terms of product pricing, you still probably can’t offer a better deal to your customers than the price they could find on Amazon.

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15 tools to help ecommerce practitioners scale and grow

GetElastic

trillion in sales in 2017, it’s safe to say that ecommerce has a big future. We all know that it’s easier and more cost effective to keep an existing client than find new ones. Smile helps increase customer retention by rewarding repeat customers building brand loyalty. In 2018, 11.9% 6 Smile.io (Paid).

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How to Set Up an Ecommerce Loyalty Program to Improve Retention, Build Community and Drive 5X in Sales

BigCommerce

For instance, if you spent $5 to earn a customer and you know that over the course of that customer’s lifetime with your brand, they will likely spend about $100, that’s a great lifetime value to churn (or cost to acquire a customer) ratio ( LTV to CAC ). Acquire new customers. Reduce advertising costs.

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Can Big Data and Predictive Analytics Rescue the Retail Industry?

RTP blog

Consider the role of predictive analytics in these five areas: Customer Retention and Engagement — Leverage mass personalization by looking at customers’ purchase history to keep them engaged with the brand and coming back for more. Of course, when items are out of stock, retailers can facilitate the shipping or pick-up.

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Top 7 Omnichannel Retail Trends for 2021

ROI Revolution

After all, a 2017 Harvard Business Review study found that customers who use multiple channels rather than a single channel spent an average of 4% more when shopping in-store and 10% more when shopping online. Additionally, further insights reveal that consumers are keen to use BOPIS as a way to counteract shipping fees.

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Fund, Bootstrap, or Finance: How to Finance A Small Business

SellBrite

From building a website to buying inventory, business costs add up quickly. That’s why 40% of business owners turn to small business loans to finance their stores — to the tune of $600 billion in 2017. About 50% of small business owners went to their local bank in 2017 to apply for a loan. Here’s the thing, though.