EaglePoint of View:
Digital and Social Media #5
FACT: Only 31% of companies focus on the conversion rate of their e-commerce sites.
Q: If a company spends $100 driving traffic to its website, how much does it spend trying to improve its conversion rate?
A: 1$
What this means?
If you are selling online, you are throwing bad money after good if you are not focused on improving your conversion rate. What sales organization does not focus on close rate? Its no difference with e-commerce. At the C-level you should care as much about your e-commerce conversion rate as you do about the # of visitors that come to your site per month.
FACT: Online sales from mobile devices are expected to exceed $41 billion in the US this year.
Q: If a company spends $100 driving traffic to its website, how much does it spend trying to improve its conversion rate?
A: 1$
What this means?
If you are selling online, you are throwing bad money after good if you are not focused on improving your conversion rate. What sales organization does not focus on close rate? Its no difference with e-commerce. At the C-level you should care as much about your e-commerce conversion rate as you do about the # of visitors that come to your site per month.
FACT: Online video viewing has eclipsed US TV viewing in 2013
Q: What % of media share is now owned by mobile and online vs TV?
A: Mobile + online is 40%. TV is 38%, declining 7% points since 2009
What this means?
Media consumption on mobile and online is vastly different than TV. Its on-demand, its smaller chunks of media. Its binge-oriented. How many times have you recently binge-viewed? (watched more than one episode of your favorite show online at one time) Your products and services have to be communicated through video and especially mobile video going forward. You can’t just take a TV or print ad and somehow put it into video form.
Recent Eaglepoint Engagements
- CEO at leading Radio analytics company
- Chief Product Officer at a Digital Media company with the #1 channel on Youtube.
- Chief Digital Officer at a Travel company
- Chief Digital Officer at a 150 yr old consumer products (plumbing) company
- Elected Chairman of a East Coast manufacturing company controlled by a mid market mezzanine capital firm
- Elected as independent director of large mid-western manufacturing firm
