Archive for the ‘Innovation’ Category

7 Stages of eCommerce Innovation

Thursday, November 11th, 2010

Looking to innovate your ecommerce program? Here is a seven step method for driving online growth and successful internet retailing.

ebusiness_stages.jpg

This method allows for strategic alignment across the entire organization, and builds the eCommerce ecoSystem based on your specific business model.

The steps can be used to develop a new eBusiness, or add/enhance specific channels like email, affiliate marketing, social media or PPC.

  1. DISCOVER. Look at the eBusiness concept (new or existing), then validate and define the requirements to execute a successful business model. Areas of focus include a historical and competitive performance review, site analysis, infrastructure review and online marketing audit.
  2. PLAN. During this phase,  a full ecommerce business plan is developed to ensure that expectations and business goals are clearly defined. Relevant resource requirements and services are also identified in an ecommerce roadmap to guide the design and development of the recommended tactics.
  3. DESIGN. The importance of a great user experience, visual design, graphic development and photography are clear, but the program specifications and business rules behind them are often overlooked. This stage outlines the elements and integration points that are required to ensure the program components are executed in alignment with the business model, brand standards, proper business timing and other important requirements.
  4. DEVELOP. Here is where the plan begins to take shape, system components are developed and tactics are executed. Development elements may include the presentation layer, web production, system integration, programming, commerce engine configuration, content management, backoffice functions, database development and analytic systems.
  5. LAUNCH. Launch planning is a critical step to ensure the proper timing and delivery of components to reach audiences at the right time through the channels they prefer. This stage also helps to place the right resources that will support each business component.
  6. ANALYZE. Once a successful launch is achieved, it’s time to measure the results. Each element should have specific performance metrics previously defined in the planning stage — measuring success can be one of the most rewarding steps. Knowing how each element is performing against KPIs will identify areas of improvement and set the direction of future program elements.
  7. OPTIMIZE. Analysis of system components is an ongoing process, where successful elements can be optimized and improvements can be made to trouble spots. The focus becomes KPI driven tweaks - small ongoing adjustments that keep the eCommerce ecoSystem performing at the highest level possible.

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Wednesday, October 14th, 2009

Next 5,000 Days

Monday, February 23rd, 2009

Strategy and Innovation

Tuesday, February 10th, 2009

I went to the Shop.org Strategy and Innovation Forum last week in Orlando, FL. The event was focused on “Opportunity from Adversity”, with insights in delivering on digital retail in the challenging economy. Innovation was the theme, but I think “Incremental” would have been more appropriate. Or perhaps “Doing more with what you have” (but that doesn’t sound nearly as cool as innovation).

“Be mature, but never act your age”

The most entertaining presentation was from Bob Thacker. The SVP, Marketing and Advertising for OfficeMax, presented his “Chewing Gum and Bailing Wire. Big Ideas with Little Budgets” keynote with enthusiasm, and hard driving real world examples - delivered in high quality video format. His consistent message that major opportunities come from depression times, was continually supported with OfficeMax marketing campains like Elf Yourself, Schooled, and Save A Penny. Each of these campaigns were risky, but all delivered huge ROI and insane media mentions - and a measurable increase in brand affinity.

AC and Bob Thacker

Above: AC and Bob dicussing the “Elf Yourself” campaign (or hairproducts:)

Mr. Thacker’s philosophy was refreshing, and his use of relevant quotes did a good job of supporting his message. Here are a few of my favorites:

“Lean and mean doesn’t have to be trim and grim”
“Why run commercials when you can own the whole store”?
“Look before you leap…THEN LEAP”
“Don’t make ads - make news”
“No pessimist was ever a brilliant marketer”

 

I hope I can apply some of his philosophies to my client campaigns, and look forward to continued marketing innovation from OfficeMax. “Those who say it can’t be one, shouldn’t interrupt those who are doing it”. Right on Bob, right on.