Author: CBPO
Insights to empower 2023 ecommerce strategies
30-second summary:
- Retailers should use a data-driven approach to develop their marketing strategies to succeed in today’s volatile economy
- Current tumultuous economic conditions are disrupting the retail landscape by forcing store closures and forecasting bankruptcies
- Marketing intelligence for pricing, advertising, and promotions is critical in gaining an edge against competitors
- Managing director at GrowByData, Prasanna Dhungel, shares ecommerce strategy tips for 2023 to attract, convert and retain customers
The economy in 2020 was in a volatile state, primarily due to the pandemic. In November 2020, despite rising Covid cases, retailers were providing SALE offers on 13% of ads and special promotions on only 7% of ads. On the other hand, consumer spending growth was recorded at 9%.
Fast-forward to 2021 – The economy was recovering from COVID that was evident in consumer spending growth of 13.5%. With a slightly eased supply chain and better economic conditions, November holidays in 2021 saw 14% growth in special offers, which had grown twice as much compared to 2020. Furthermore, SALE offers were seen on 12% of ads which was slightly lower than the previous year.
However, in 2022, the Russia-Ukraine war coupled with unfathomable COVID rise in manufacturing nation like China impacted the economic indicators once again. With rising inflation, consumer spending had fallen drastically to mere growth rate of 6%-8%. For this year’s November Holiday, 60% of consumers mentioned discounts and promotions playing a huge role in their purchasing decisions.
Surprisingly, during November 2022, there was a drop with only 8% focused on special promotion ads. However, SALE offer was in a rise visible in 15% of ads.
A similar trend was seen in average pricing in Google Shopping ads that is, turbulent economy was reflecting in lower average price in 2020 and 2022 compared to 2021 – when the economy was flourishing.
Heading into a deeper recession in 2023
As we enter 2023, we expect to continue heading into a recession.
According to a monthly survey conducted by Bloomberg, the likelihood of a US recession in 2023 jumped to a whopping 70% – as a series of Federal Reserve interest hikes drove fears of a stagnant economy. To make matters worse, a rise in US unemployment throughout the year has also been predicted to cause more pain in the labor market.
On the contrary, to remain competitive in the market, gross margin in retail is expected to go down. In this paradigm, pressure will rise on spending like advertising. Consumers will start scouting for cheaper products causing retailers and advertisers to provide low-priced products to win market share. Therefore, the road ahead for retailers is going to be bumpy. Per UBS analyst report, 50,000 store closures in the US is expected over the next 5 years. News of mega-stores like Bed Bath & Beyond potentially going to bankruptcy has emerged.
Based on our 2020 and 2022 economic analysis, retailers most likely will have unsold inventories to clear during the 2023 November Holidays. That said, consumers will see more SALE ads over special promotions, alongside noticing a drop in average pricing in shopping ads.
Tips for 2023 ecommerce strategies
Consumer spending, which has been decreasing in the last 3 years, will most likely fall in 2023 as well. Discounts, Promotions, and cheaper prices are the only ways to attract customers to stretch their wallets.
Despite the bleak outlook, retailers utilizing marketing intelligence for their pricing, advertising, and promotions will most likely survive and gain an edge in 2023. Here are a few tips for retailers and advertisers to succeed in 2023 –
1. Optimize ecommerce trustworthiness factors to boost conversion
Trust plays an integral role in converting business. To ensure a high conversion rate, it is imperative to build a customer’s trust in your eCommerce ecosystem. It is fair to say that online shoppers are often reluctant to make a purchase due to uncertainty on an unfamiliar channel or brand or product. For an eCommerce business, gaining trust is crucial as customers are unable to physically see the product. Businesses must focus on optimizing trustworthiness as it will have tremendous impact in the conversion. That being said, trust is a psychological state that can be easily influenced.
Here are the ways to optimize your ecommerce trustworthiness.
- Showcase customer reviews and ratings, use trust badges and seals, offer secure payment options, display contact information prominently, maintain a strong presence on social media – all these attributes gain trust from your customers. Additionally, have good shipping & return policies, and enhance your website’s user experience. This will reassure your company’s transparency and guarantee customer satisfaction. All these should lead to increased customer loyalty and sales. For instance, Google rewards the “trusted store” badge to stores offering fast shipping, good return policies, a high-quality website, and good ratings – all the factors that signify a good customer experience.
- Shopping ad extensions is another great way to improve the trustworthiness and effectiveness of your shopping ads. Ad extensions allows you to provide additional information about your product/business in your ad, which will help increase the credibility of your ad and the likelihood of users clicking on it. For example, you can use the “product review & ratings” extension to display the average rating your business has received from customers. This can help potential customers feel more secure during their purchase journey.
- Offer competitive shipping and return policies to add a layer of trust and credibility for your brand. Customers generally prefer to shop with brands that offer free shipping or expedited shipping options. A hassle-free return policy will not only help build trust with customers but also create a good brand image since you have taken that extra step to ensure the customer’s satisfaction. For example: if you offer a 10-day return policy while your competitor is offering a 3-day return, customers are more likely to choose your product vs your competition. Additionally, having a local presence in the market is also a plus point. Customers will know you exist in their market. Offer 24/7 customer helpline and chat for your customers to get feel like they can contact you easily.
- If you are a brand, you should have a MAP policy in the US and Canada. Having a MAP and channel policy helps ensure your brand’s product’s price and channel consistency across the digital shelves. You must clearly communicate your MAP policy to your retailers & partners and provide them with the necessary guidelines for selling your products. Setting up a MAP policy and ensuring its enforcement helps brand maintain their value and ultimately improves trust and credibility amongst resellers and ultimately shoppers.
2. Optimize ROAS by lowering advertising cost
Here are six ways to achieve this –
- Pursue Holistic Search Strategy to mobilize budget across SEO and SEM to dominate Google SERP. In 2022, our top Auto retailer client increased 20% revenue by redirecting ad spending from keywords where they were doing well in Organic.
- Improve your keyword quality score to boost impressions and CTR with lower CPC. We have noticed retailers not utilizing special offers during this adverse time. We humbly disagree with this strategy as it is imperative to offer discounts through special offers over dropping prices. This simple tactic can improve your ad quality and reduce your CPC.
- Optimize your product experience by focusing on product title, price, quality, color, description, promotions, reviews, etc. This will not only increase your chance of conversion but also help improve your keyword quality score.
- Ensure affiliate compliance to reduce revenue churn and better partner with your loyal affiliates.
- Monitor violations in your brand term that are inflating your CPC.
- Enforce MAP Compliance to avoid pricing wars reducing your margins and brand value.
3. Dynamic pricing optimization to maximize margin
To be on top of the game, retailers must have insights into current market pricing to ensure optimum pricing to beat competitors. The approach taken for dynamic pricing strategies to penetrate while maximizing margin from the market will be critical for growth.
4. Strategic promotional planning to attract consumers
Consumers will always be gazing for promotions. In this adverse economic situation, a strategic promotion plan will help optimize advertising and conversions.
Conclusion
As the pandemic-riddled period comes to an end, innovation becomes a key factor for survival in the volatile market of today. Furthermore, with a shift in the retail landscape consumer expectations and demands will be a leading force in 2023.
Retailers and advertisers must remain flexible, adaptive, and affordable to get an edge against competitors to maximize their market share. They should use a unified marketing intelligence solution that showcases them versus competition in the eyes of the shoppers on the digital shelves. We recommend retailers use a data-driven approach to developing their marketing strategies to improve their chances of success in 2023.
Prasanna Dhungel co-founded and runs GrowByData, which powers performance marketing for leading brands such as Crocs and top agencies like Merkle. GrowByData offers marketing intelligence for search, marketplace, and product management to win new revenue, boost marketing performance and manage brand compliance.
Prasanna also advises executives, board & investors on data strategy, growth, and product. He has advised leading firms such as Melinda & Bill Gates Foundation, Athena Health, and Apellis Pharma.
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The post Insights to empower 2023 ecommerce strategies appeared first on Search Engine Watch.
What Chatbot Bloopers Reveal About the Future of AI
Microsoft’s new chatbot for Bing has displayed some strange behavior, proving that AI is more fallible than tech companies let on.
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Seven huge, yet common SEO mistakes to avoid in 2023
30-second summary:
- SEO has become a key area of practice for online businesses to gain visibility. If it’s done wrong, however, it can stagnate or even sabotage your online visibility
- From filling an entire page up with nothing but images to creating tons of bad keywords or spending too much time on meta keywords
- Here is a list of the most common SEO mistakes to avoid and be future-ready
It is easy to make mistakes when doing SEO for a website. I’ve even caught myself making stupid mistakes here and there. That being said, it’s important for webmasters to know what some of the bad things to do are when it comes to SEO.
Sites with no mistakes stand a better chance against the big guys. Sites that have many backlinks, but have some problems in the markup can quickly climb in the search results when the SEO boo-boos are fixed. Luckily for webmasters, most of these mistakes are extremely easy to fix and can be completely fixed within minutes.
For those with search engines regularly crawling their sites, the changes can be made search engine-side almost instantly. Those with slightly lower crawl rates will naturally have to wait longer, but the changes will have their benefits in time. I want to add also that this article will be reflecting the changes in SEO in recent years as meta keywords, for example, are definitely not as important as they once were.
Here are the most common SEO mistakes and how to solve them:
SEO mistake #1: Nothing to read
The problem:
You have either filled an entire page up with nothing but images OR you are using development methods that aren’t crawler friendly, for example a site that uses nothing but flash. The search engine has no text (or anything) to read.
You may have a well-written and keyword rich article that may be beautifully displayed in flash or images, but the search engines may not be able to read it. Therefore, you won’t rank very well for your keyword rich article.
The solution:
According to Google’s official webmaster guidelines,
“Try to use text instead of images to display important names, content, or links. The Google crawler doesn’t recognize text contained in images. If you must use images for textual content, consider using the ALT attribute to include a few words of descriptive text“.
Also, I would recommend you to always go for more plain text on your website. And just because it is called plain text doesn’t mean it has to look plain. There are some very beautifully designed sites that are easily readable by search engines. You don’t have to sacrifice beauty so that the search engines can crawl your site.
SEO mistake #2: Nondescript URLs
The problem:
You might have a great webpage on your website with a keyword rich description on let’s say strawberry cheesecake. You go in depth on your article about how wonderful and deliciously moist your cheesecake recipe is. Your URL, however just says www.somesortofsite.com/node61. Search engines place importance not only on the URL, which should describe your site in some way, but also on the slug which, in this case, I’ve called node61.
The solution:
Get a URL that describes your site. If you have a website on affiliate marketing, for instance, try to get something like https://affiliatemarketing.com. If you write an article about affiliate marketing tips, insights or whatever else, make sure the slug represents that somehow so that the URL will be something like that one of this article about affiliate marketing programs. There are many ways to do this depending on the content management system you use. You can configure WordPress to automatically give you a descriptive slug based on the title of your article or you can also input your own slug.
SEO mistake #3: Meta keywords obsession
The problem:
You are spending too much time researching and finding the BEST keywords to use in your meta tags.
The solution:
Don’t spend too much time doing this.
According to Neil Patel, the co-founder of Crazy Egg and Hello Bar:
“Meta keywords are no longer relevant in today’s SEO. Google may decide to change the rules in the future, but for now, you don’t have to waste your time on it“.
“If you’re a WordPress user, there’s no need to add more tags that you think are relevant to your content,” he added.
While there are still many webmasters who still think the opposite, they are definitely not as important as they were in the past. they were so important in the past, that I even still have an article on nothing but meta keywords! Now, however, meta keywords mean much less than they did in the past. I must confess that I DO still input information into those cute little metadata fields, but I do not spend nearly as much time on that as I used to. You shouldn’t either. Get some quick tags and a nice little description in there and call it a day. Basically just set it and forget it.
SEO mistake #4: Missing alt tags
The problem:
No “alt tags” on your images.
The solution:
Add alt tags to each of your images. By doing this, you’re giving search engines information about what’s in the photo. You don’t have to describe the entire picture, but at least put something descriptive there!
“… If you must use images for textual content, consider using the ALT attribute to include a few words of descriptive text”
Everyone likes to know what’s in a photo, even if they can’t see it. Many people do not have the time to input alt tags for every single little icon or part of the design. It isn’t really necessary to have alt tags on ALL images, just the important ones. The alt tag argument is becoming more and more controversial, but it doesn’t hurt to add them and personally, I’ve noticed a difference since adding them.
SEO mistake #5: Using HTML instead of CSS
The problem:
Everything on your site is HTML. You love HTML and can’t get enough of it.
The solution:
If your site design is in HTML, you’re committing a cardinal development sin. What year is this – 1997? Site design should be written in CSS. Why is this a problem? Search engines can have difficulty differentiating what is design and what is content if your site is written strictly in HTML.
Another difficulty faced by those whose sites aren’t in CSS is painstaking process of making changes to a layout.
SEO mistake #6: No backlinks
The problem:
Your site has no back links.
The solution:
A site’s on-page SEO really helps, but off-page SEO is what’s going to bring it to the top. Websites need back links and quality back links.
“When deciding how to rank your website, Google, Bing, Yahoo, and other search engines look at how many links lead to your site (and the quality of those links)“.
“The more high-quality, trustworthy, and authoritative sites linking to you, the higher your blog posts and sales pages will appear on search result pages,” he added.
In fact, one of the most important part of SEO is back links. It’s important to also put your keywords in your backlinks. It’s important for backlinks to be natural… or at least appear natural, so webmasters must take care in not creating too many backlinks right away.
Too many backlinks in a short span of time looks fishy and sites have been penalized for this. Take it slow. Add a new backlink here and there. Taking it slow allows you a lot of space to dabble a little – to see what works and what doesn’t without a major investment of time or money.
SEO mistake #7: Bad keywords
The problem:
You’ve picked a great keyword, but you have 50,387 back links and still don’t rank for the keyword.
The solution:
You’ve picked some bad keywords. If you’ve already got a ton of backlinks and you wish to stay in your niche, you’ll probably bring a lot more traffic in with “ahem” slightly less competitive keywords.
Every niche has those extremely competitive keywords, but those with a little creativity and research, you can come up with some good keywords – ones that people search for often, but is something for which your website can rank.
Jacob McMillen is a copywriter, marketing blogger, and inbound marketing consultant. He can be found on Twitter @jmcmillen89 and LinkedIn as Jacob McMillen.
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The Wild Logistics of Rihanna’s Super Bowl Halftime Show
The singer gave much of her halftime show performance atop seven suspended platforms. It was all in the name of protecting the grass.
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Seven tips to optimize page speed in 2023
30-second summary:
- There has been a gradual increase in Google’s impact of page load time on website rankings
- Google has introduced the three Core Web Vitals metrics as ranking factors to measure user experience
- The following steps can help you get a better idea of the performance of your website through multiple tests
A fast website not only delivers a better experience but can also increase conversion rates and improve your search engine rankings. Google has introduced the three Core Web Vitals metrics to measure user experience and is using them as a ranking factor.
Let’s take a look at what you can do to test and optimize the performance of your website.
Start in Google Search Console
Want to know if optimizing Core Web Vitals is something you should be thinking about? Use the page experience report in Google Search Console to check if any of the pages on your website are loading too slowly.
Search Console shows data that Google collects from real users in Chrome, and this is also the data that’s used as a ranking signal. You can see exactly what page URLs need to be optimized.
Run a website speed test
Google’s real user data will tell you how fast your website is, but it won’t provide an analysis that explains why your website is slow.
Run a free website speed test to find out. Simply enter the URL of the page you want to test. You’ll get a detailed performance report for your website, including recommendations on how to optimize it.
Use priority hints to optimize the Largest Contentful Paint
Priority Hints are a new browser feature that came out in 2022. It allows website owners to indicate how important an image or other resource is on the page.
This is especially important when optimizing the Largest Contentful Paint, one of the three Core Web Vitals metrics. It measures how long it takes for the main page content to appear after opening the page.
By default, browsers assume that all images are low priority until the page starts rendering and the browser knows which images are visible to the user. That way bandwidth isn’t wasted on low-priority images near the bottom of the page or in the footer. But it also slows down important images at the top of the page.
Adding a fetchpriority=”high” attribute to the img element that’s responsible for the Largest Contentful Paint ensures that it’s downloaded quickly.
Use native image lazy loading for optimization
Image lazy loading means only loading images when they become visible to the user. It’s a great way to help the browser focus on the most important content first.
However, image lazy loading can also slow cause images to take longer to load, especially when using a JavaScript lazy loading library. In that case, the browser first needs to load the JavaScript library before starting to load images. This long request chain means that it takes a while for the browser to load the image.
Today browsers support native lazy loading with the loading=”lazy” attribute for images. That way you can get the benefits of lazy loading without incurring the cost of having to download a JavaScript library first.
Remove and optimize render-blocking resources
Render-blocking resources are network requests that the browser needs to make before it can show any page content to the user. They include the HTML document, CSS stylesheets, as well as some JavaScript files.
Since these resources have such a big impact on page load time you should check each one to see if it’s truly necessary. The async keyword on the HTML script tag lets you load JavaScript code without blocking rendering.
If a resource has to block rendering check if you can optimize the request to load the resource more quickly, for example by improving compression or loading the file from your main web server instead of from a third party.
Optimize with the new interaction to Next Paint metric
Google has announced a new metric called Interaction to Next Paint. This metric measures how quickly your site responds to user input and is likely to become one of the Core Web Vitals in the future.
You can already see how your website is doing on this metric using tools like PageSpeed Insights.
Continuously monitor your site performance
One-off site speed tests can identify performance issues on your website, but they don’t make it easy to keep track of your test results and confirm that your optimizations are working.
DebugBear continuously monitors your website to check and alerts you when there’s a problem. The tool also makes it easy to show off the impact of your work to clients and share test results with your team.
Try DebugBear with a free 14-day trial.
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My Strange Day With Bing’s New AI Chatbot
Microsoft’s chatty search interface was impressive. But it also served up glitches, ethical dilemmas—and talk of a mysterious “Sydney.”
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Googling for Software Downloads Is Extra Risky Right Now
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Five things you need to know about content optimization in 2023
30-second summary:
- As the content battleground goes through tremendous upheaval, SEO insights will continue to grow in importance
- ChatGPT can help content marketers get an edge over their competition by efficiently creating and editing high-quality content
- Making sure your content rank high enough to engage the target audience requires strategic planning and implementation
Google is constantly testing and updating its algorithms in pursuit of the best possible searcher experience. As the search giant explains in its ‘How Search Works’ documentation, that means understanding the intent behind the query and bringing back results that are relevant, high-quality, and accessible for consumers.
As if the constantly shifting search landscape weren’t difficult enough to navigate, content marketers are also contending with an increasingly technology-charged environment. Competitors are upping the stakes with tools and platforms that generate smarter, real-time insights and even make content optimization and personalization on the fly based on audience behavior, location, and data points.
Set-it-and-forget-it content optimization is a thing of the past. Here’s what you need to know to help your content get found, engage your target audience, and convert searchers to customers in 2023.
AI automation going to be integral for content optimization
As the content battleground heats up, SEO insights will continue to grow in importance as a key source of intelligence. We’re optimizing content for humans, not search engines, after all – we had better have a solid understanding of what those people need and want.
While I do not advocate automation for full content creation, I believe next year – as resources become stretched automation will have a bigger impact on helping with content optimization of existing content.
CHATGPT
ChatGPT, developed by OpenAI, is a powerful language generation model that leverages the Generative Pre-trained Transformer (GPT) architecture to produce realistic human-like text. With Chat GPT’s wide range of capabilities – from completing sentences and answering questions to generating content ideas or powering research initiatives – it can be an invaluable asset for any Natural Language Processing project.
The introduction on ChatGPT has caused considerable debate and explosive amounts of content on the web. With ChatGPT, content marketers can achieve an extra edge over their competition by efficiently creating and editing high-quality content. It offers assistance with generating titles for blog posts, summaries of topics or articles, as well as comprehensive campaigns when targeting a specific audience.
However, it is important to remember that this technology should be used to enhance human creativity rather than completely replacing it.
For many years now AI-powered technology has been helping content marketers and SEOs automate repetitive tasks such as data analysis, scanning for technical issues, and reporting, but that’s just the tip of the iceberg. AI also enables real-time analysis of a greater volume of consumer touchpoints and behavioral data points for smarter, more precise predictive analysis, opportunity forecasting, real-time content recommendations, and more.
With so much data in play and recession concerns already impacting 2023 budgets in many organizations, content marketers will have to do more with less this coming year. You’ll need to carefully balance human creative resources with AI assists where they make sense to stay flexible, agile, and ready to respond to the market.
It’s time to look at your body of content as a whole
Google’s Helpful Content update, which rolled out in August, is a sitewide signal targeting a high proportion of thin, unhelpful, low-quality content. That means the exceptional content on your site won’t rank to their greatest potential if they’re lost in a sea of mediocre, outdated assets.
It might be time for a content reboot – but don’t get carried away. Before you start unpublishing and redirecting blog posts, lean on technology for automated site auditing and see what you can fix up first. AI-assisted technology can help sniff out on-page elements, including page titles and H1 tags, and off-page factors like page speed, redirects, and 404 errors that can support your content refreshing strategy.
Focus on your highest trafficked and most visible pages first, i.e.: those linked from the homepage or main menu. Google’s John Mueller confirmed recently that if the important pages on your website are low quality, it’s bad news for the entire site. There’s no percentage by which this is measured, he said, urging content marketers and SEOs to instead think of what the average user would think when they visit your website.
Take advantage of location-based content optimization opportunities
Consumers crave personalized experiences, and location is your low-hanging fruit. Seasonal weather trends, local events, and holidays all impact your search traffic in various ways and present opportunities for location-based optimization.
AI-assisted technology can help you discover these opportunities and evaluate topical keywords at scale so you can plan content campaigns and promotions that tap into this increased demand when it’s happening.
Make the best possible use of content created for locally relevant campaigns by repurposing and promoting it across your website, local landing pages, social media profiles, and Google Business Profiles for each location. Google Posts, for example, are a fantastic and underutilized tool for enhancing your content’s visibility and interactivity right on the search results page.
Optimize content with conversational & high-volume keywords
Look for conversational and trending terms in your keyword research, too. Top-of-funnel keywords that help generate awareness of the topic and spur conversations in social channels offer great opportunities for promotion. Use hashtags organically and target them in paid content promotion campaigns to dramatically expand your audience.
Conversational keywords are a good opportunity for enhancing that content’s visibility in search, too. Check out the ‘People Also Ask’ results and other featured snippets available on the search results page (SERP) for your keyword terms. Incorporate questions and answers in your content to naturally optimize for these and voice search queries.
It’s important that you utilize SEO insights and real-time data correctly; you don’t want to be targeting what was trending last month and is already over. AI is a great assist here, as well, as an intelligent tool can be scanning and analyzing constantly, sending recommendations for new content opportunities as they arise.
Consider how you optimize content based on intent and experience
The best content comes from a deep, meaningful understanding of the searcher’s intent. What problem were they experiencing or what need did they have that caused them to seek out your content in the first place? And how does your blog post, ebook, or landing page copy enhance their experience?
Look at the search results page as a doorway to your “home”. How’s your curb appeal? What do potential customers see when they encounter one of your pages in search results? What kind of experience do you offer when they step over the threshold and click through to your website?
The best content meets visitors where they are at with relevant, high-quality information presented in a way that is accessible, fast loading, and easy to digest. This is the case for both short and long form SEO content. Ensure your content contains calls to action designed to give people options and help them discover the next step in their journey versus attempting to sell them on something they may not be ready for yet.
2023, the year of SEO: why brands are leaning in and how to prepare
Conclusion
The audience is king, queen, and the entire court as we head into 2023. SEO and content marketing give you countless opportunities to connect with these people but remember they are a means to an end. Keep searcher intent and audience needs at the heart of every piece of content you create and campaign you plan for the coming year.
The post Five things you need to know about content optimization in 2023 appeared first on Search Engine Watch.