Watch out Google Shopping… Amazon’s advertising business is growing fast!
Estimates have put their ad revenue at $2.1 billion in 2016 and forecast that it will hit $3.5 billion in 2017.
This means Amazon’s ad business is closing in on third place globally behind Google ($80b in 2016) & Facebook ($27b in 2016) and whilst it’s miles away, their platform is still not available in all countries!
This article originally appeared on Web Profits blog
If you run an eCommerce store, you are likely finding it harder and harder to increase sales and make a profit from advertising online. Competition is pushing cost per clicks higher, organic search results are now dominated by big brands (and ads), Amazon is rapidly increasing market share, plus shoppers are becoming more astute and increasingly using comparison websites to get the best deal.
So what can you do? Well, you need to get innovative and find ways to increase your conversion rate significantly. If you do this, you can afford to pay more for traffic than your competitors (and still make a profit) and therefore you’ll be able to bid aggressively on less targeted (and higher volume) traffic and networks. The result? You’ll capture the lion’s share of the sales in your market!
The way we shop is changing. As consumers we are always looking for the next best thing when it comes to products, services and convenience. As online shopping continues to become more popular, with total online spending by New Zealanders in January up 16 percent compared to last year, smart ecommerce entrepreneurs need to be prepared to up their game. From SEO and A/B testing to web design and content marketing, there’s a lot that needs doing to ensure your online store stands out. Unfortunately, not everybody gets it right.
Here are 6 marketing mistakes you should avoid when launching your great ecommerce venture.
This post originally appeared on Inside Retail and InternetRetailing.com.au.
You may not have heard of Redbubble but it is an eCommerce company, launched in Melbourne back in 2006. Essentially, the website allows artists to sell their art, photography and patterns which are printed on a range of items including t-shirts, cushions and phone covers with Redbubble taking care of the sale, manufacturing and shipping. It has attracted artists and customers from around the world and since 2006 has quietly grown to be one of the country’s biggest eCommerce companies with 147.8 million website visitors last financial year and revenue of $114.6 million, growth of 61.2% compared to the previous year.
Redbubble is again forecasting strong growth this financial year with revenue expected to jump by 50.26% to $172.2 million. With the business 10 years old many analysts would assume it has matured and would expect growth to taper off, however they are showing no signs of stopping – so how are they doing it?
Redbubble’s growth in GTV (gross transaction value) since FY08.
The range of eCommerce technologies and platforms for businesses to sell online has come a long way in the last decade. From software solutions that had to be painstakingly downloaded on a 56k modem to the do-it-yourself ‘what you see is what you get’ subscription based platforms we have these days that allow anyone with an idea to set up an online shop cheap.
Taking a walk down memory lane to what we were doing a decade ago in eCommerce, here is one of the first eCommerce websites I launched way back in 2004 which was built with osCommerce and looked…. well not that pretty, which you can see for yourself: Continue Reading