Important marketing & business statistics to help you plan for 2018

2017 is coming to a close. If you haven’t started already, you’re probably considering your marketing budget and growth strategy for next year. To help your photo product business, we’ve gathered some interesting statistics to help you develop the best plan for 2018.

#1 Setting goals

While you might think setting goals is an obvious necessity for any strategy, not everyone takes the time to establish their objectives. According to a survey from CoSchedule, 70% of marketers stated that they set goals.

Of those with pre-defined goals, 81% said their marketing was successful, compared to the 57% of the survey’s overall applicants. In other words, those that set marketing goals are 429% more likely to report success.

This should come as no surprise. Having realistic and measurable goals gives you a target that you can both stick to and move towards. So, how can you plan such goals for an e-commerce business, such as an online photo product store?

If you feel you have your store’s technical challenges solved, then focus on improving conversion rates and increasing sales. On the other hand, if your editor is rusty and outdated, or if you are noticing a high number of cart abandonments, then perhaps your goal should be to decrease cart leavers by offering a new, more friendly design process.

In the latter case, updating software can be an important step. Printbox is a complete solution that doesn’t just offer you a fast and easy photo product editor – it also offers a beautiful, working e-commerce storefront. You can check this out here.

#2 Documentation

Few people enjoy documenting and planning out their steps, but it is a vital part of planning a business or marketing strategy for an entire year. This makes it significantly easier moving forward, as everyone understands their role and the desired outcome.

This is especially true when you are running a business with personalised goods, as you have more to focus on than the owner of a traditional e-commerce store. As such, you should document as many processes as possible and this certainly includes your marketing.

Yet research shows that only 48% of marketers take the time to document their strategy. What the other half probably don’t realise, however, is that having a predefined plan can have an even bigger impact on reporting success than simply setting your goals. How much so? It increases your chances of success by 538%! So, when you plan your strategy, don’t forget to document it in detail!

#3 Mobile marketing

Each year, marketers are devoting larger and larger portions of their budget for mobile advertising. According to IAB, in 2016, 51% of all digital budgets were dedicated for mobile. If this wasn’t enough, according to predictions, this figure is expected to rise by 70% by 2019 in the US alone.

With users spending increasingly more time on smartphones, as well as rising e-commerce revenue via mobile purchases, your photo product competitors are likely going to strongly invest in mobile advertising. Furthermore, you shouldn’t be missing such opportunities, either.

Yet according to research from Hubspot, 70% of survey participants dislike mobile ads. While you certainly need to be present when people are browsing the internet with a portable device, you need to avoid doing it in any “obnoxious” way. A good example of user-friendly advertising is Google’s Adwords, which smoothly brings us to our next point…

#4 Search Engine Marketing

The chances are you’re most likely running a paid search engine marketing campaign – if you’re not, you’re missing out! – so you should try and get the most out of it, making it as successful as possible.

Almost 65% of people who click of Google Adwords do so when they are planning to buy something online, according to data. That’s a lot of potential business, so what can you do to ensure these users choose you over your competition?

To gain more, while spending less in 2018, you should focus on improving your quality score and increasing your visibility. The latter is quite simple, as you can easily make your ad stand out with extensions. Research shows that having a call extension can improve your click through rate (CTR) by 10%.

Other extensions can work just as well, too. For your photo product business, you should consider using sitelink extensions, linking to the various categories of products you offer, such as photobooks or photo calendars. Alternatively, review extensions can show positive experiences with your services and brand.

As for improving your quality score, there are a few different factors you need to consider. Not least of all, the wording and relevant of your ads, as well as the experience of the landing pages you are linking to, play a big part in determining your quality score. Ads with a score of 10 can have a cost per click (CPC) 50% lower than ads with a score of just 5. It’s definitely worth it.

So, make sure to have well-written ads that are relevant to your target keywords and link to a relevant, useful landing page. If you are advertising for a particular item, such as photobooks, ensure your ad links to this specific page, rather than a main page. You should also consider if this page is responsive and offering a positive experience for mobile users, as the mobile experience also impacts the quality score.

#5 Review marketing

Word of mouth has always been one of the most powerful marketing channels at your disposal. Research shows that 82% of Americans will seek recommendations from friends and family before they make a purchase. Furthermore, 92% of customers will read online reviews.

Of course, online reviews aren’t a new concept but the number of people that read them is still growing – it was 88% in 2014. In fact, such reviews can often make or break a business. 42% of consumers don’t want to purchase from a business that has less than 3 stars, while 45% expect at least 4 stars.

For a business that offers personalised products and services, good reviews are even more vital. People don’t usually know what they can expect and will research other people’s opinions to find the most trustworthy option. So, after your customers have made a purchase, why not ask them to leave a review on some of the most popular websites, such as Facebook, popular e-commerce review sites, or even your own site. Chasing up customers that had a positive experience is certainly worthwhile, otherwise those with a negative experience will be the most motivated to leave feedback.