Online Holiday Spending Up 15% Over Last Year

comScore is reporting that online holiday spending for the season-to date is up 15% compared to the same period last year, at $24.6 billion.

The week ending December 9th alone saw $5.9 billion in online spending.

“The most recent week of the online holiday shopping season saw growth rates remain in line with the season-to-date at 15 percent and three individual spending days eclipse the $1 billion threshold,” said comScore chairman Gian Fulgoni. “These highlights represent another very positive sign for the holiday shopping season, as the week following ‘Cyber Week’ often experiences relative softness in spending momentum due to retailers pulling back on their promotional activity. As we enter what will be the heaviest week of the season for online retailers – beginning with ‘Green Monday’ on December 12 – all signs are now pointing to a strong finish to the season.”

Cyber Monday, “Green” Monday (today), traditionally a big spending day, and Free Shipping Day (this Friday, December 16th) will duke it out for the #1 spot in online spending for the 2011 season.

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Innovation and Change

Listening to Phil Wickham, CEO of the Kauffman Fellows Program, at last night’s Velocity Ventures/University of the Pacific MBA Showcase in Sacramento, I reflected on the drivers of both innovation and change viewed through his eyes.

Phil noted that whether you were talking about the economy, an individual, or a business, the rate of innovation and the rate of change in the environment defined the state of and potential for adaptation to changing conditions. A glance at the graphic shows his perspective. When innovation keeps pace with change, growth results. If change slows but innovation continues to grow, the entity enters the comfort zone. When both innovation and change lag, the entity becomes stagnant. And, when change continues but innovation ceases, uncertainty breeds transition.

This simple but powerful model unlocks for me insights into the cause of fear, uncertainty, and powerlessness felt by many who find themselves or their companies in transition. It also provides a useful prescription of how to remedy matters that would otherwise fall outside our understanding.

Changing things without doing things differently—”rearranging the deck chairs on the Titanic”—is no solution, it’s change for change’s sake, and as a reminder, not all transition is good transition. Similarly, innovating without change creates the appearance of activity without real progress. Even an outsider, though, can tell when innovation and change are resulting in growth, so that becomes a yardstick that the entity has entered the right mix of innovation and change.

Bringing this all back home, we sometimes find Consultiq’s clients out of balance. (We rarely see those in the Comfort zone seeking out services—though they clearly are failing to live up to their Growth potential.) It’s far more likely that they seek outside help to manage a Transition or a kick-start to get things moving after they have become Stagnant.

I’ve heard over and over from successful serial entrepreneurs and those who invest in them that the most effective founders and CEOs stand ready to make significant changes—pivot—at a moment’s notice. They pivot when they get unexpected feedback from their customers. They pivot when resources become tight. They pivot and find a new path when a product development effort runs on the rocks. But very rarely do I hear of them ramping up innovation to convert their ability to change into a powerful driver for growth.

Give it some thought. There’s much to learn from the Kauffman Fellows Program and Phil Wickham’s insight. How does it apply to you and your life—and to your company’s?

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Secure Social Login Serves Marketers

A new study from Janrain shows that users like using social network login to access ecommerce sites. Marketers like it too.

According to the study, which sampled users across 365,000 websites, as of the third quarter of this year, Facebook is leading social media site used for retail shopping login, with a 49% share, followed by Google and Yahoo!. Facebook’s share drops  to 43% on media websites.

And users are increasingly using Facebook and Twitter to share news of their purchases, comments and reviews, engaging their friends in their online shopping activities.

Retailers are learning how draw on users’ social network to enhance and customize the shopping experience. Social network sites offer information on users about everything from their birth date and gender, to their location, interests, photos, e-mail addresses and social sharing activities. The data offered by social network websites can vary from site to site, but it can nonetheless help marketers personalize the shopping experience, or better segment consumers.

It’s a reminder though, for users to check their privacy settings on Facebook and other social sites and consider just how much information they want to share about themselves. Using your Facebook account to sign-in for online shopping can be fast and easy, but if you’re uncomfortable sharing all your profile information, it may not be for you.

 

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Cyber Monday Spending Sets Record

According to comScore, U.S. online spending on Monday, November 28th, or Cyber Monday, topped $1.25 billion.

So far this holiday season, consumers have spent $15 billion online, a 15% increase compared to corresponding days from 2010.

The $1.25 billion spent on November 28th, 2011, represents an increase of 22% over the $1.03 billion spent on Cyber Monday last year.

“Cyber Monday was yet another historic day for e-commerce, with online spending reaching a record $1.25 billion,” said comScore chairman Gian Fulgoni. “It was just the second billion dollar spending day on record, following on the heels of Cyber Monday 2010. While last year saw Cyber Monday rank as the heaviest online spending day of the year for the first time ever, it will be interesting to watch the next couple of weeks to see if any future individual days in 2011 manage to leapfrog this year’s highest day-to-date.”

Some 10 million consumers spent an average of $66.97 per transaction over 18.7 million transactions; The average spend was $124.82 per buyer.

comScore also reported that half of the total dollars spent on Cyber Monday were spent by people using their computers at work; Cyber Monday originated as an theme meant to lure shoppers returning to work and high-speed internet access after the Thanksgiving long weekend.

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Cloud Computing Increasingly Pervasive

Customer relationship management, application platforms, banking, word processing, spreadsheets, is there any corner of I.T. that cloud-computing can’t penetrate?

A Frost & Sullivan outlook briefing this week predicted that cloud computing will mature and become a mainstream business technology in the Asia-Pacific market by 2015, as banking, utilities and other industries increase adoption. The research firm predicts a 39% CAGR (compound annual growth rate) in the market, excluding Japan, for the five years from 2010 to 2015, hitting US$5.8 billion in the terminal year.

Closer to home, entrepreneurs continue to innovate new applications and models to be served in the cloud.

Take Gliffy, for example, a small startup out of San Francisco.  After word processing, spreadsheets and presentation software have been moved to the cloud, it’s only logical that drawing programs similar to Visio move there too. That’s what Gliffy does – the company produces a cloud-based diagramming tool that offers an alternative to both Visio (for technical diagrams) and Powerpoint (for flowcharts, org charts, network diagrams and the like.)  If someone has ever sent you a Visio file you can’t open (and the Visio reader seems to be AWOL on the Microsoft site), then Gliffy is something you’ll likely appreciate.

The tool is easy to learn, easy to use, and runs quickly, at least on the Google Chrome browser I tried it on. In short order I was able to modify one of the Gliffy templates to create this diagram of my home computer network. The free trial via the website even let me export a PNG file – the sort of function that other vendors tend to reserve for paying customers.

Home Network

 

It’s deliriously simple, and that’s why it’s such a good example of the promise of cloud computing.

Not that there aren’t challenges – data security, vendor lock-in, and platform uptime are all issues that both vendors and customers will need to wrestle with. But they don’t appear to be problems that can’t be solved through a combination of continued technology innovation and prudent contract negotiation.

Cloud computing is entrenched, and has legs. Watch for continued growth worldwide in 2012, and start thinking about how your applications could be served in the cloud – you might be surprised.

 

 

 

 

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Recovering from Setbacks

Some years ago I consulted with a leading executive coaching firm with C-level clientele. Working with one of their top managers and the company founder, we developed an audio program on the best ways to recover from unexpected setbacks in business and in life.

Setbacks are all too common. In business, perhaps a deal falls through, an expected promotion is denied, or a deadline is missed. In our personal lives, we lose a job, face an unexpected serious illness, have an accident, or a relationship goes to pieces. What’s the best way to pick yourself up and recover? How do you get firing on all cylinders again when you are caught up in a wave of regret, guilt, or fear of the now-uncertain future?

My client evaluated pro-level sports for instances where a team had just been sacked, had an interception, missed a critical point, or lost a key player to injury yet came right back and dominated their opponents. They conducted interviews with pros like Tiger Woods (then at the top of his game), Joe Montana, and Magic Johnson. They asked what was going through their mind and how they managed to achieve when they had just been dealt a bad hand.

What they learned was that those athletes had common coping strategies. They recognized that dwelling on what had just happened to them was fruitless. What was past, was past. They couldn’t change it.

They also realized that the future had lots of potential outcomes that could come to pass, but that none of them were set in stone. They were, in a real sense, beyond their control and all of the wishing in the world for success or fear of bad things happening was wasted energy.

Instead, they focused on the immediate present, and they relied on formulaic rituals and routines to keep them in the present. The present, they knew, was something they could control and, if they did what they had always done when they were successful, the likelihood was that they would be successful this time, too. They put the past and the future out of their mind, and concentrated on the now.

We’ve all probably seen the basketball player at the free throw line getting ready to make a shot. They are there because they or their team was fouled, perhaps injured in the preceding play. The crowd goes silent, and they and all of their team and their opponents are looking at them. You’ll often see the ritual kick in at this point. The player will look intently at the basket, then down at the ball. They’ll carefully dribble it down and catch it—perhaps once, perhaps two times, even three. Then they’ll take a breath and look up and make the shot. Swish!

What happened? In that few seconds, the crowd vanished. Their team vanished. The opponent team and its taunting vanished. The past was forgotten. The future was ignored. They did something that was so routine and so formulaic that they didn’t have to even think about it. They repeated the routine, and they concentrated on the ball, the bounce, the feeling in their fingertips, and the shot. And they made the shot.

Those who missed the shot either didn’t do their normal routine, or they were thinking about the foul, or they were thinking about how much making the shot counted. They weren’t there mentally.

I’ve often said that it’s best to be fired on a Monday. Firing someone on a Friday condemns them to stewing over the past and worrying about the future all day Saturday and Sunday before you can do something about making things better.

So next time you’re dealt a setback, take a moment for that regret of what didn’t work, a moment to recognize that the future is uncertain, but then put them out of your mind and do the routine that has made you successful. Concentrate on the “right now” immediate present. Put a foot in front of the other and take a step. Then another. You’ll be on the path to recovery and will soon be excelling again.

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Black Friday Online Spending up 26% Over Year Ago

comScore is reporting that over 50 million Americans visited online retail sites on Black Friday last week, spending $816 million, up 26% from 2010.

“Despite some analysts’ predictions that the flurry of brick-and-mortar retailers opening their doors early for Black Friday would pull dollars from online retail, we still saw a banner day for e-commerce with more than $800 million in spending,” said comScore chairman, Gian Fulgoni. “With brick-and-mortar retail also reporting strong gains on Black Friday, it’s clear that the heavy promotional activity had a positive impact on both channels. We now turn our attention to Cyber Monday, a day that Shop.org says will see eight-in-ten retailers running special online promotions. Last year, Cyber Monday was the heaviest day of online spending ever, with sales exceeding $1 Billion, and we fully expect to see another record set this year.”

Consumers drive the Black Friday deal research site bfads.net to the number one slot in terms of unique visitors from November 21 to 25th; the site recorded a 51% jump in traffic compared to the equivalent period last year, reporting nearly 4 million unique visitors.

Amazon was the #1 ranked online retailer on Black Friday, followed by Walmart, Best Buy, Target and Apple, each of which reported double-digit gains in visitors over last year.

 

 

 

 

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Elusive Decisions

Many marketers of my era remember well a small book titled, “Up the Organization,” written by Bob Townsend, the president and chairman of Avis Rent-a-Car who made Avis the biggest little number two in the world. Townsend died in 1998, but something he said in his book has stuck with me all of these years: he was okay with failure.

Townsend described how many—certainly a majority—of the decisions he made while at the helm of his company turned out to be wrong. Those that were right helped him succeed, but he credited those that he got wrong with teaching him how to improve and, more importantly, kept the momentum moving. Contrast that with today’s collaborative mind-freeze when it comes to making decisions that count.

Let’s start by admitting, we all want to get our decisions right. Sometimes the data are confused, conflicting, or sparse. Voices around us push us against our better instincts, or towards them. Making a decision to not make a decision is sometimes okay, sometimes not. But there’s never an excuse for not making a decision simply because you’re uncertain or fear the outcome might not go well. That puts your entire team, sometimes your organization, and all of your customers on hold. Regardless of the decision you make, stalling everyone and stopping workflow is always a bad decision.

Remember Bob Townsend. Follow his advice. Make the decision, then move on. (Don’t forget you made it, check in, but move on to the next item on your priority list while the impact of your decision becomes clear.)

If the decision turns out as you hoped, all the better. If not, notice it quickly and execute plan B. Be decisive. Follow your instincts, but read the tea leaves in the data too.

And one more thing…when you approach a higher-up for a meeting, understand that they expect your time together to be used for one of two purposes: to explain what’s happening, or to have them make a decision. Give them the information they need to take either action.

You’ll be a better employee and they’ll be a better manager for your consideration.

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No More Dogs on the Internet

Has it really been almost twenty years since Peter Steiner’s cartoon was published in The New Yorker (July 5, 1993), with one dog in front of a computer, saying to another, “On the Internet, nobody knows you’re a dog” ?

Indeed it has, but it’s getting harder to be that anonymous dog these days.

Earlier this year, Google Chairman Eric Schmidt famously said that “if you don’t want to use your real name, don’t use Google+” and Facebook’s terms of service require users to use their real name on their account, and create only one account per real person. Facebook CEO Mark Zuckerberg has said that the age of privacy is over, and there is a growing trend to “real-name activity” on the Internet.

Closer to home, my local weekly entertainment news paper recently made a policy change for its online version, prohibiting anonymous commenting. Further, “those who continue to post comments using their existing fake names will have their comments removed and their memberships suspended. Also, if someone signs up with a new account under a fake name and posts a comment, we will delete the comment and the account will be suspended.” Further still, this publication is encouraging users to post their comment with…. wait for it…. Facebook connect.

The stated reason for this change is to inspire more thoughtful and civil debate, although having the website percolate through readers’ Facebook feeds will surely help boost traffic. Coincidentally, in a recent Saturday Night Live episode, Jason Sudekis appeared on Weekend Update in costume as The Devil, taking credit for inventing online video buffering and commenting.

It’s good for internet marketers, of course, because more data on more real people is better for advertising sales, and both Google and Facebook know who their true customers are.

But privacy advocates continue to fret, and full real-name transparency can chill participation; employers are increasingly scanning the social media profiles of potential candidates. Should a citizen be allowed to comment anonymously on a local hot-button issue without fear it may cost him or her a job offer?

And will the chill freeze online participation growth rates?

 

 

 

 

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Nurture Leads With a Steady Stream of Content

You’ve heard it a million times before – internet marketing is about content creation, for SEO, for social media, etc. I’m going to say it again.

Nurturing leads from marketing-qualified to sales-qualified leads also requires a steady stream of content, in many different forms. Good SEO practices, including content generation, and solid PPC and social media programs can get prospects to your website, and maybe even get them to fill out a form, but nurturing with fresh content is what moves them down the line towards a purchase.

Check with your sales reps and learn how much time they are spending talking to truly qualified prospects that can convert, versus tire-kickers that get recycled. If it’s 80/20 tire-kickers to qualified leads, you, as a marketer, are not doing enough nurturing through e-mail, your website and social media. In fact, your sales team is doing the nurturing that marketing should be doing. You can turn this around, but you’re going to need more content.

Clearly, you’re going to want to produce webinars, case studies and whitepapers which you can e-mail out to nurture prospects, but there are other channels too, literally.

A branded channel on YouTube can not only host archives of your webinars, and your demo videos, but it can also tag visitors so that you can tie them back to your Google AdWords campaign – with Google’s re-marketing feature, you can hit those YouTube visitors up with an ad on the content network down the line, reminding them of your brand. That’s nurturing too.

Still pictures from events, like trade shows, updated product screen shots, all of this is fodder for your social media channels, website and press release. Getting an impression with a prospect via Google image search is nurturing as well.

And while case studies are great, look for opportunities to do mini-case studies – tap your content syndication partners and vendors for a chance to highlight willing customers. They don’t even need to be marquee names, you just need your brand highlighted someplace your nurture prospects might see it, reminding them to think of you, and click through that next e-mail, rather than just opening it.

Content creation opportunities abound – after a while, identifying them becomes second nurture…er, nature.

 

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