For online businesses it's all about traffic, clicks and purchases. If you have these you are golden, but you better respect your online community or you will lose then fast. Imagine if Facebook announced that tomorrow they would start charging $10/year to use their site. Many people would pay, but Millions would be up in arms.
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| Digibomb in fine form |
Yesterday the yhoti team attended the Affiliate Summit Montreal Meetup at the Opus Hotel. Share Results was the sponsor with a presentation by web designer Brendan Sera-Shriar A.K.A. Digibomb. The overall theme (formal and informal) was that online consumers have a lot of power and that companies must compete to meet their needs if they want traffic, clicks and purchases.
Some interesting info from the night:
- Currently over $5 Billion is spent on internet advertising with the majority on Facebook. This is expected to double to over $10 Billion by 2013.
- More people are watching online instead of TV. Many Ads are viewed more on YouTube than on TV - for a fraction of the cost. Watch for a boom in video marketing over the next few years.
- Over 90% of consumer purchase decisions are made with a recommendation from a friend not a company ad. Many are from online “friends" on Facebook, a blog review, or a pin on pinterest.
- 80% of HR managers check out candidates online at sites like linkedIn. With so much of our lives taking place online Digibomb recommends that everyone should own the domain name rights for their name. It's a cool gift for the person that has everything.
- Moretti Beer was drink of choice for the online crowd.
(does this count as a "friend" recommendation?)
- Many retailers are finding that the average online purchase is now larger than the average purchase in store. They are switching their marketing focus accordingly.
This last point is great news for savvy shoppers.
Retailers are working hard to capture your online business and are switching resources from traditional advertising to online shopping. This means you will find websites that are constantly improving. They are making it easier to use their site while providing interesting content and great deals.
In the last month yhoti has added over 30 new stores: Banana Republic, Old Navy, P&G eStore, SmileMakers and Leftlane Sports to name a few. These retailers have learned that many more people are shopping online now and they want cash back. The are competing hard to win your business.
If you haven’t joined yhoti yet. Now is the time. Membership is free and savvy shoppers will find a wide range of stores, great deals and can earn Cash rewards every time they shop. Join yhoti today.
If you are interested in meeting with people with the same interests as you then check out Meetup. Meetup helps groups of people with shared interests plan meetings and form offline clubs in local communities around the world.
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