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Posts in Data & Analytics

Why dynamic pricing is a must for ecommerce retailers

Dynamic pricing is a pricing strategy in which prices change in response to real-time supply and demand.

While this isn’t a brand new pricing strategy, (American Airlines first introduced it in the early 80’s) it is currently taking ecommerce by storm.

Dynamic pricing allows retailers to remain competitive with 24/7 price monitoring and changes, boosting profits by 25% on average.

3 comments
Safety in numbers?

What is 'best practice'?

Are you doing what's best, or simply seeking the protection of the herd?

It’s an enticing idea: 'Best practice'. It suggests a clearly defined path to success; a recipe for perfectly honed websites, trouble-free projects, delighted users; a silver bullet.

But what is 'best practice'?

I don’t mean best practice for UX design, or best practice for SEO, or best practice for project execution. But the concept of 'best practice' itself.

 Where do best practices come from? How do we recognise them? How do we adopt them?

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cuddling devices

Smartphones, tablets or TV: How do we consume media in 2014?

How do we consume media in 2014? And what media? And on which devices?

Ofcom released The Communications Market Report in August 2014 and it's chock full of interesting data and charts on the UK market.

I've previously looked at mobile and tablet usage. Now I'm turning by attention to the broader topic of media uptake, in its various forms.

For more statistical goodness, download our Internet Statistics Compendium...

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10 internet marketing statistics we've discussed this week

We've got so many beautiful stats for you this week.

From native advertising to online TV, paid search spend to site search conversion, social media in travel to banking online. Please enjoy and share at will.

For more online marketing statistics, download our Internet Statistics Compendium...

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How can businesses track the customer journey in a multichannel world?

Smartphones can support impulsive purchasing – browsing a retailer’s website while waiting in a supermarket queue and clicking 'buy now', for instance.

Meanwhile, the widespread use of tablets as second screens presents the opportunity to make purchases, perhaps in response to advertisements, from the comfort of your sofa.

Digital window-shopping, or showrooming, is common among smartphone users and often leads consumers into physical stores to try on or test products, or to making online purchases from another device at another time.

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The top four applications of Big Data in marketing

Marketers live in a world that is creating 2.5 exabytes of data each and every day.

This provides both a challenge and an opportunity to marketers. How can they process and harness big data in faster and more innovative ways to deliver deeper insights and improved business performance?

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How to use machine learning to enhance your marketing campaigns

Machine learning sounds like something that computer nerds do, but not marketers.

Well, here's a dip-your-toe-in introduction to how anyone can use machine learning to improve their digital ad campaigns.

Machine learning is an intriguing topic. Whether you've read about US retailer Target discovering a young woman was pregnant before she told her parents or you have seen it in action with Amazon recommendations, it's exciting to think that computers can do things which seem almost magical.

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Q&A: Alex Econs on ICON Printing's site redesign

Back in April I was kindly invited by the team at 4Ps Marketing to attend its Ski Summit in Tignes, France.

Aside from the skiing (and inevitable après-ski), I got chatting to some of its clients about their digital marketing and ecommerce efforts.  

One of these clients was Alex Econs, founder and director of ICON Printing; an SMB producing customised clothing and accessories for an impressive client list.

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How to grow your international sales using personalisation

Unlocking international or cross-border sales has never been as lucrative as it is today.

Historically, shipping costs, lack of trust and limited information were factors in preventing growth in trade but now cross-border shopping is estimated to be worth $105bn.

While this is a huge growth area for ecommerce businesses, several obstacles still prevent online customers from comfortably venturing outside their borders and buying from international retailers.

Challenges often involve language or currency difficulties, logistics, restrictive local laws, or unclear product information.

However, personalising the shopping experience is one method you can use to increase revenues, allowing you to engage users on their own terms, provide them with the best information and take advantage of local opportunities.

So how do you get started? Read on for five of the best ways to make personalisation part of your international online strategy.

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Eight interesting digital marketing stats we saw this week

Well hello there, and welcome back to our weekly stats roundup.

This time it includes data about Enhanced Campaigns, Facebook's earnings, analytics tools, Christmas, data privacy and the thorny relationship between CIOs and CMOs.

For more of this type of thing, download the Econsultancy Internet Statistics Compendium...

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Spotlight on data privacy: three steps to building consumer trust

Consumer concern about data privacy has shifted over the past decade.

More than ten years ago, consumers were concerned when companies such as Amazon analyzed their data to provide them with a recommended list of products they may be interested in based on their purchase habits.

Fast forwarding to today, many consumers now expect companies to mine their data through the use of analytics to provide them with relevant offers and products to improve their shopping experience.

Yet, recent data breaches have placed a spotlight on data privacy once again, moving the topic of consumer personalization versus privacy back to the forefront of the marketing conversation. 

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Privacy and personalization: a marketer's Catch-22

Coined in Joseph Heller’s classic satirical novel of the same name, 'Catch-22' is a term that refers to a situation in which a person is trapped by completely contradictory goals or circumstances.

In Heller’s book, the only way for a pilot to escape his WWII flying mission is to request psychiatric evaluation due to mental instability, and be deemed insane.

However, awareness of his own insanity is considered proof of a rational mind, thus making it impossible to escape his mission, a total and complete Catch-22.

No doubt, many marketers are feeling stuck in this sort of paradoxical situation when it comes to the competing goals of consumer privacy and personalization.

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