It’s been an interesting year for us sponsoring IGD Awards. Last year we sponsored just the E-Commerce Award, but this year we are also doing the Digital Engagement Award. And one thing that stands out this year is how quickly e-commerce is becoming a mainstream barometer of business success.
Because let’s face it-e-commerce is where Digital “gets real.” It’s about real metrics and real money. The balance sheet and the project ROI tell you whether you are succeeding or not. As this mainstreaming takes hold, the focus on metrics and ROI was very evident in the entries we looked at. Among the top entries, as well as entries that did not make the final cut (see below for finalists), some of the key themes were:
Starting a site for commerce is not ideal for everyone. Within the CPG industry it’s common that your product category may be too niche or too focused, and therefore would never justify the shipping costs unless someone buys, for instance, a year’s supply of moisturiser. Therefore, it becomes important to play well on established e-commerce retailers’ websites. These techniques range from improving findability, to optimising path to purchase, influencing via specially-placed banner ads, free samples, etc. It’s clear that both CPG companies and retailers are getting savvy. And it’s evident in their trading plans.
Many projects executed in the last year recognised that shoppers will seamlessly switch between Physical and Digital channels. Companies are responding to this trend as well. They are mixing sampling and online ads together for double-digit returns. They are also trying to measure effectiveness of multi-channel advertising on online shopping behaviour.
This is our favourite. It demonstrates clarity of purpose. When you set out on a Commerce Project, it’s very important to be outcome-orientated. Metrics help you articulate what you wish to accomplish, and how (as demonstrated by metrics in each point of the funnel).
It was an interesting mix of entries. Each one trying to address the challenges of Digital Commerce in their unique way. This year’s shortlist for the E-Commerce Awards are:
They will make their presentations to our judging panel at Mindtree’s London office in just over a month, and the awards ceremony is October 6th. So stay tuned for more…