| The 2009 Shop.org Innovation Contest |
The Inaugural Shop.org Innovation Contest showcases the creativity and thought leadership of the technology partners and service providers in the digital retail industry.
The Contestants - SI Forum Exhibitors:
Strategy and Innovation Forum Exhibitors were asked to submit their best idea for what retailers should be doing to succeed in this economy and prepare for future success. Their contest entries are below.
The Judges - Retailers:
Who better to determine which ideas are best than retailers themselves? Entries with the most votes by retailers are invited to present their ideas live on stage at the 2009 Strategy and Innovation Forum, February 3rd in Orlando, Florida.
Retailers accept free user-generated content from manufacturers to increase review volume and sales metrics
Products with more customer reviews sell better, but just 15% of products are reviewed on retailer sites. Manufacturers should collect UGC on their sites, then syndicate it to retailers for free. When Kingston did this with OfficeDepot.com, Kingston reviews increased tenfold and conversion for reviewed products doubled. It’s a win-win.
Submitted by Bazaarvoice
E-Commerce Software: Show Me the Money!
To succeed in the 2009 economy, retailers must demand absolute accountability from technology partners – and not pay a cent until they’ve seen a measurable return on investment. Sound extreme? It's not. Some of the hottest e-commerce technologies are being offered on a pure performance-based pricing model, letting retailers boost sales at the lowest possible cost.
Submitted by richrelevance
Utilizing Site Search to Personalize Email Marketing to Dramatically Increase Open Rates and Sales
By combining site search with information about individual customer preferences and purchasing histories, e-retailers can create highly targeted, personalized email campaigns that produce dramatic results: a 250% increase in open rates, a 400% click-through increase, a 300% increase in sales and 200% higher revenue per visit.
Submitted by SLI Systems
Innovation is Spelled P-R-O-F-I-T
Five personalities retailers must cater to in this economy in order to be profitable: 1) Me First/Me Now -- Fulfill Correctly/Fulfill NOW! 2) Won't Pay Shipping -- Cut Back-End Costs to Increase Promotions. 3) Do-it-for-me -- Easy Search/Checkout. 4) Do-it-my-way -- Customer Experience Management. 5) Social Butterfly -- Social Media
Submitted by Vcommerce Corporation
The Formula for Success: 1x12/3=$; Boost Repeat Buyer Behavior for Higher AOVs with Lower Costs.
1x12/3=$ is the formula for future success in this tough economy. To increase revenue, you need to boost your customer’s repeat buying behavior. There are three ways you can do this, two reasons why it works and one BIG advantage to you - higher AOV.
Submitted by OrderMotion
- Submmitted Titles and entries below
- Retailers voted 'YES' for each entry you think is a good idea for what retailers should be doing to succeed in this economy and prepare for future success.
- Retailers were able to vote for up to 5 entries.
- One vote per person.
- Voting is open to Retailers only.
- Contact information collected is for Shop.org only. No information will be shared with contestants or other companies.
- Voting ended on Friday January 16th 2009, at 11:59pm EST.
VOTING IS NOW CLOSED
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