I am a firm advocate for measuring click based conversions when it comes to performance focused online marketing with various attribution models applied depending on the goal. With that said however, I’m also open to the fact that like real world billboards; display and remarketing campaigns can generate view-through or post impression conversions. For those that don’t know, a view-through conversion is where someone has seen your advert at some stage and then has come back to your website or landing page direct or via another source and converted into a lead or a sale.
The main issue with measuring view-through conversions however is that you can’t actually tell if the prospect seeing the ad was the reason they came back and converted, or if it was another marketing campaign (the one they clicked perhaps) that influenced their decision. They may have even come back and converted if there was no marketing turned on at all. Without a clear and accurate view of the sources, campaigns, ads or targeting that are delivering actual results it becomes hard to correctly attribute the conversion and then optimise and improve your overall marketing results.
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 →