It has been an eventful week in the realm of digital marketing. Amazon 1-click patent has expired, which can potentially boost sales for hundreds of thousands of smaller eCommerce stores all over the Web. Google is thinking about small guys too by getting ready to release their free attribution tool to a mass audience and supporting AMP pages in AdWords. Last but not least, augmented reality technology Arkit will be built into all new Apple devices, that will increase marketing possibilities in the nearest future. The latest trends in online shopping, online advertising, consumer tracking, mobile advertising, and shopping have all been covered this week.
Let’s take a closer look at these updates:
Amazon 1-Click patent has expired
This week’s digital marketing news can be summed up with 1-click. But be careful! Amazon’s patent for their 1-click shopping method has officially expired. The patent has been around since 1997 allowing Amazon to be the exclusive holders of such a money-making gem. While other companies have used the 1-click button before, they have had to pay Amazon a fee. Now, 1-click shopping will be the norm and it is estimated to be more than profitable for companies in regards to online net revenue.
Approximately more than $4 trillion in lost sales is attributed to shopping cart abandonment according to Monetate Inc.
The shopping cart has been eliminated which affects the consumer as well. This is believed to impact mobile buyers the most as shopping cart abandonment is about 80 percent( Marketing Land, 2017). As people are inclined to fill their shopping cart and not follow through with a purchase for whatever reason, conversion rates are now expected to increase using the 1-click shopping tool.
Google will be releasing a free attribution tool
In the e-commerce shopping experience, there are many portals that one must tunnel through. By default, Google applies last-click attribution to all goals and conversions in Google Analytics. However, many shoppers go through many channels to purchase an item. The first step could be, in fact, seeing the desired item on Facebook; then, a few days later, they can google the same product name and go to the company’s site organically. Of course, in the scenario above, Facebook would be the odd one out and not receive the proper credit. It’s very common that the shoppers’ journey is more than just two steps which the last click attribution method would disregard entirely.
With this information they can compare successful versus unsuccessful pathways, giving companies an idea of where their money is best spent and where they’re getting the most ROI (return on investment).However, the tool is in beta and can only be used by companies that garner 15,000 clicks and 600 conversions in a month which isn’t applicable for many mid-size companies. Google has plans to expand this in order to serve smaller companies in order to have a fair indication of their digital marketing success. .In the meantime, mid- to small sized companies can utilize the Model Comparison tool in Google Analytics to identify the most effective marketing tactics.
AMP pages are now supported for AdWords advertisers
This week, Google announced that all advertisers will be able to direct mobile search traffic to AMP landing pages. While this Adwords implementation is still in beta, there have been reports of websites seeing a 95 percent increase in conversion rates and a 31 percent drop in bounce rates from AMP landing pages. This technology expedites the digital marketing process for companies as mobile users often bail after slow loading time. If you would like to sign up for AdWords + AMP beta, you can do it here.
Apple had their annual event this week in which they announce the latest technology. The iPhone 8 and Apple Watch 3 were the big name drops, as well as looking forward to the iPhone X. The iPhone 8, although ripped online for its thin glass material, has some pretty cool features that could change the way companies market on a mobile platform. One technology the iPhone 8 will possess is an augmented reality feature provided by Arkit. Augmented reality is becoming a tool that companies such as Ikea are using to advertise their products. With the iPhone 8 people will be able to digitally place an item in their home or office to visualize exactly how it would look. Some companies, like Moneylion, has timed the launch of their new augmented reality marketing campaign perfectly. In the same week as the Apple event, Moneylion has released a tool that coincides with Apple’s IOS 11 technology that will allow customers to have a visual representation (literally in the form of virtual money) of their bank account balance.
Digital Marketing has now decided to appeal to the consumers’ aesthetics with the use of augmented reality. Apple and Google are not the only trendsetters in the industry as augmented reality has served as a useful tool for a while now. But, Apple implementing it in the new IOS is a step in the right direction in regards to the evolutionary direction of digital marketing.
If you’d like to learn more how you can apply these or other digital marketing initiatives to your business strategy, please fill out our Request a Quote form. We are a digital marketing agency in Brooklyn (NYC) that focuses on ROI through digital marketing for our clients. We work with many industries, including eCommerce, Start-Ups, Hospitality, and more!