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Etailers Rejoice: Ecommerce Spending Hits New Records

February 26th, 2013 ::

By Maria Valdez Haubrich

You know that ecommerce spending is growing—but did you know by just how much? In 2012, online shopping in the U.S. grew by 15 percent compared to 2011, reports comScore’s recently released full-year 2012 data. This was the strongest annual growth rate since back before the recession began. Overall, U.S. online shoppers spent $186.2 billion in 2012.

In the fourth quarter of 2012 alone (which includes the holiday shopping season), ecommerce sales grew by 14 percent year over year, reaching approximately $56.78 billion. ComScore had originally forecast a higher growth rate for 2012 ecommerce holiday sales, but last-minute consumer worries about the “fiscal cliff” appear to have had some effect on dampening online holiday sales just a bit.

Of course, the fourth-quarter sales are still nothing to complain about. Fourth-quarter 2012 was the first quarter ever that online sales hit $50 billion. It was also the thirteenth consecutive quarter of positive year-over-year growth and the ninth consecutive quarter of double-digit growth.

What kinds of products contributed the most to the growth in ecommerce sales? The strongest areas (those where online sales increased by at least 15 percent year over year) were digital content and subscriptions, consumer electronics, toys and hobby-related items, apparel and accessories, and books and magazines. So while digital content still leads the way (not surprisingly), most major retail areas are well-represented.

Overall, the number of U.S. ecommerce buyers rose by 6 percent, showing that more consumers are more comfortable buying online. In addition, the average spending per buyer rose by 8 percent.

All told, U.S. online spending accounted for 10 percent of total U.S. retail spending last year (excluding spending on food, gas and automotive). That makes 2012 the first time that U.S. ecommerce spending has hit double digits.

While comScore hasn’t yet made a projection as to 2013 ecommerce spending, the report says that as long as the lower-than-expected fourth-quarter 2012 sales were just a temporary setback, rather than a foreshadowing of decreasing economic confidence among consumers, 2013 is highly likely to see strong growth as well.

Image by Flickr user SamahR (Creative Commons)

 

 

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Posted in Marketing, sales process, Small Business, small business, Technology, Web Design | No Comments »

Web.com Small Business Toolkit: OrderAhead (Customer Service App)

February 25th, 2013 ::

OrderAhead

Here’s a tool that can add to your business’s bottom line and makes preorders a no-brainer. OrderAhead is a mobile app that allows consumers to place and pay for orders from their phones or computers and then pick them up at a designated time. For your customers, it saves time and makes shopping more convenient. For your business, it eliminates some of the hassle of preordering. The orders are placed and paid for through OrderAhead (which takes a 7.9 percent commission on each order). Customer orders are then faxed to your business and you receive your check from the company weekly. You still get the chance to interact face to face with your customers when they pick up their order.

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Posted in Customer Service, Resources, Small Business, small business, Technology | No Comments »

Web.com Small Business Toolkit: Wideo (Online Video Creator)

February 20th, 2013 ::

Wideo

Don’t be intimidated by all those online videos you see on other websites. You can create your own with Wideo. The videos are animations and can be used for explaining how your product works, how your company founders came together, or whatever your imagination comes up with. You can create, edit and share animation videos for free–it’s easier than you think. Insert objects, backgrounds and shapes or upload your own images and add text. Animate any object in as little as three clicks of a mouse.  Then build your story with animated scenes, and share your video with customers right away.

 

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Posted in Marketing, Resources, Small Business, small business, Technology, Videos, Web Design | No Comments »

Is the Multitasking Myth Hurting Your Productivity?

February 20th, 2013 ::

By Rieva Lesonsky

Are you a mad multitasker? You know what I mean—switching back and forth between 12 open programs on your computer while simultaneously talking on one phone, checking texts on a second phone and eating lunch at your desk. Women business owners are particularly prone to multitasking mania, probably because many of us are used to juggling dozens of tasks (overseeing the kids’ homework while working on the laptop and folding laundry) in our home lives. But that doesn’t mean we’re better at it than men.

Studies on male vs. female multitasking abilities are many and controversial. For every study showing that women are better at it, there’s one claiming men are. But the real question isn’t who’s better at multitasking, but whether multitasking is helpful or hurtful.

A raft of studies done in labs have indicated that while multitasking actually decreases your productivity, people tended to believe the opposite—that they were more effective when multitasking. An Ohio State University study went one step beyond to find out why people think multitasking is more productive. Researchers found that:

  • People feel more productive because they are emotionally satisfied by multitasking.
  • People tended to multitask when they had a specific task to do (such as studying); in other words, multitasking provided a way to avoid focusing on something that was rather unpleasant.
  • As a result, people feel emotionally satisfied by multitasking, which leads them to keep doing it.
  • As they continue multitasking, it develops into a habit, and the positive emotions that come from it plus the habit-forming nature makes them keep doing it.

So what can you do to break your multitasking habit? Like any habit, it will take time (about 21 days) to break the old habit and institute new ones. Try setting rules like shutting down your email and only checking it a few times a day; letting calls go to voice mail and checking them at set times; shutting your office door for short periods when you need to concentrate; and using online tools like Freedom or Concentrate to keep you from wasting time on the Internet.

Yes, I realize that these habits may be hard to institute, but start small. You’d be surprised at what just a couple hours a day of not multitasking can do for your productivity—and your business.

Image by Flickr user deux-chi (Creative Commons)

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Web.com Small Business Toolkit: StartUp Weekend (Startup Events)

February 19th, 2013 ::

Startup Weekend

Want to start a new business or spinoff of your existing business but you’re thinking, “A new business is too hard and will take too long!” How does starting a business in a weekend sound (and maybe finding a partner to boot)? StartUp Weekend events are held around the world and are 54-hour weekends filled with hands-on experiences where entrepreneurs and aspiring entrepreneurs can find out if their startup ideas are viable.  Typically, half of Startup Weekend’s attendees have technical or design backgrounds, and the other half have business backgrounds, which leads to some very fruitful teams. How’s this for a success rate? Eighty percent of past attendees say they plan on working with the team they met during their StartUp Weekend.

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Posted in Entrepreneurs, Events, Networking, Resources, Small Business, small business, Technology | No Comments »

Social Shopping Isn’t Taking Off Just Yet

February 19th, 2013 ::

By Karen Axelton

While the idea of shopping directly through social media (such as making a purchase from within Facebook) is frequently touted as the next big development in retail, it’s still got a long way to go, a new study from PwC reports.

Last year just 12 percent of shoppers globally made a purchase directly via social media. And even social media’s much-touted ability to drive sales is not so strong as you might expect: Just 18 percent of shoppers who are active social media users were driven to make a purchase as a direct result of social media, PwC found.

However, that doesn’t mean that there isn’t strong potential for social media to drive purchases going forward. The study found that consumers are rapidly growing more willing to interact with businesses on social media. Fifty-nine percent say they follow brands on social media, compared to 49 percent last year, and 27 percent report having discovered new brands via social media, up from 17 percent last year.

PwC’s report divides shoppers into three categories and assesses each group’s likelihood of becoming social shoppers. Here’s what they found:

  1. Brand lovers: Accounting for 38 percent of consumers, Brand Lovers follow brands on social media and are also voracious multichannel shoppers. More than half (53 percent) actually go into a physical store at least once a week and 45 percent buy something online at least once a week. PwC says this group has the most potential to become social shoppers.
  2. Deal hunters: Accounting for about half of consumers, this group is savings-motivated and social media will drive them to click through and purchase if the offer is good enough.
  3. Social addicts: This small group is most active interacting with brands on social media, which they use to share shopping experiences, find information and reviews, ask their friends for recommendations and directly give feedback to companies. “These very active online users tend to have huge social media networks and wield an outsized influence,” the report concludes.

Conclusion? While social shopping isn’t yet a major force, it’s likely to become one—so keep working your social media tools.

Image by Flickr user birgerking (Creative Commons)

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Posted in Business Development, Marketing, Sales Process, Small Business, small business, Social Media, social media, Technology | No Comments »

Web.com Small Business Toolkit: Deohako (iPad Accessories)

February 18th, 2013 ::

Deohako

If you can’t live without your iPad and you’re looking for ways to use it in every part of your life, you’ll want to know about Deohako. The Deohako iPad Connection System is a revolutionary iPad Case and attachment system that allows you to use your iPad in places you never dreamed you could use it. Deohako’s products include wall mounts, car mounts, clamps, suction cups, kitchen stands, attractive cases and even an iPad tripod. Did you add the iPad Mini to your family? Deohako has accessories for those, too.

 

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Posted in Resources, Small Business, small business, Technology | No Comments »

Web.com Small Business Toolkit: Haiku Deck (Presentation App)

February 15th, 2013 ::

Haiku Deck

Haiku Deck is a free presentation app for iPad, designed to simplify creating exciting and beautiful presentations. The founders of Haiku Deck wanted an easier way to tell a story, pitch an idea, share some news, give an update, show your stuff, enliven a meeting, inspire a group and more. Once you download the app, the process is as simple as entering some text, choosing an image and selecting a layout to present it in. Repeat until your presentation is done. To share your story, go to the main menu, click on “share” and you can share your presentation via email, Facebook or Twitter.

 

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Posted in Business Development, Resources, Sales Process, Small Business, small business, Technology | No Comments »

Web.com Small Business Toolkit: Robobasket (Automatic File Sorter)

February 14th, 2013 ::

Robobasket

Don’t let the thousands of files on your computer get the best of you. If you’ve ever misplaced a file in a forgotten folder, you know the importance of having a way to organize files and keep them filed in the right place. RoboBasket is an automatic file sorter that can copy, move, rename, delete and process files based on rules determined by the user. Rules are easily created by dragging and dropping. Files can be filtered based on name, extension, date created, date last modified, size, kind and many other file attributes.

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Posted in Resources, Small Business, small business, Technology | No Comments »

7 Reasons Customers Buy (or Don’t Buy) From Your Business Website

February 14th, 2013 ::

By Maria Valdez Haubrich

eConsultancy recently highlighted the top 7 reasons people buy from online ecommerce sites instead of brick-and-mortar stores. Based on research from MIT, Facebook, Google and Target, the key drivers of online shopping are:

  1. Value – 75 percent say online prices are more competitive. Can a small business always offer the lowest price? Clearly not, so how can you compete? eConsultancy says despite the emphasis on low price, 81 percent of those surveyed report they have paid more to get better service. If you can’t beat big-box retailers’ online prices, make sure you provide something else that’s special to make up for it.
  2. Open – 63 percent prefer being able to shop at any time of day or night. Be sure your site is up and running as smoothly in the middle of the night as it is during the day, and that you can handle increased traffic at any time. Also be sure that your customer service options—such as live chat or the ability to call and talk to a customer service rep—are 24/7.
  3. Delivery – 59 percent are persuaded by free delivery. That doesn’t mean you have to offer free shipping on everything, of course. You can keep it affordable for your business (while still meaningful to consumers) by setting limits such as “free shipping on all orders over $50.”
  4. Speed – 55 percent like being able to get products the next day. Again, that might be tough to offer, but in a separate eConsultancy survey about holiday 2012 shopping habits, 26 percent of consumers said they had paid extra for next-day delivery.
  5. Ease – 48 percent say online shopping is just easier. Make sure it’s easy by having a website that’s simple to navigate, allows for ease of sorting and searching, provides all the information a customer might want about products (including reviews from other customers) and has a wide range of product shots and even videos.
  6. Range – 46 percent like being able to see what’s in stock and available at a glance. Make sure your site is well stocked and your inventory management/fulfillment system is top notch. Also enable customers to sort for specifics such as size and color quickly.
  7. Choice – 40 percent cite the ability to buy new or otherwise unavailable merchandise. This is where small online retailers can really shine. Design your site, write your copy and develop your marketing materials so they emphasize the unique, custom or hard-to-find aspects of what you sell. Make it clear this isn’t your average big-box retail site—this is something special.

Keep these 7 key factors in mind, and you’ll do better at converting visitors to your site into buyers—and return customers.

Image by Flickr user ganesha.isis (Creative Commons)

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