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Apr 26

16 Reasons Why eCommerce Startups Fail

By Growth Marketing Toronto Growth Kolony Blog, Content Marketing, Growth Hacking, growth marketing, Growth Marketing Agency Toronto, Local SEO, Mobile App Marketing, SEO, Social Media, Startups, Tools

16 Reasons Why eCommerce Startups Fail
By: Growth Kolony

Here’s a “fun” fact that might scare your pants off: 90 percent of all startups fail.

And yes. This also applies to eCommerce businesses as well, which means that only 10 percent of all eCommerce businesses succeed.

So if you’re starting a business, listen up. Because you know how the old saying goes: Those who do not learn from history are doomed to repeat it.

Let’s dive right in.

Why eCommerce Startups Fail Reason 1: Poor Product Content

16 Reasons Why eCommerce Startups Fail

So you’re ready to place an excellent product on the market. You’ve done thorough research and everything looks “okay” so far.

But, when you look at your product picture, it’s a fuzzy one.

On top of that, your copywriting sucks and everything looks dodgy and unprofessional.

So, what do you do?

Duh! Fix it of course, dummy. With tools like Grammarly, there is no excuse for spelling and grammatical errors.

If you show your products to customers with obvious mistakes, it’ll lead to a poor launch, so if you have the chance to change it and improve it, do it.

The first taste of something new instantly comes from the eyes, so you’ll need engaging visual content.

At the very least, look trustworthy and competent.

Naturally, if someone visits your site and views your products and sees low-quality images and product descriptions, you instantly set yourself up for making a bad first impression.

And generally bad first impressions are a symptom of crappy user experiences.

So remember when you’re launching a new product or service, be as professional as possible and try to overcome any objection a user may have before they bounce over to your competitors.

Come up with a list of objections and reasons why a customer may not buy from you and overcome those objections on your website.

Why eCommerce Startups Fail Reason 2: Too Much Friction

The online shopping journey needs to be effortless.

eCommerce startups fail to understand how hard they make it for users to buy from their store.

They make users jump through a marathon of hoops before closing the deal, which is a major no-no.

Keep it simple.

This is one of the biggest reasons why shoppers bounce off the page and quit the purchasing process. A complicated user experience will turn off some shoppers so much that they may never come back to the site ever again.

Another thing to consider is partnering with reliable payment facilitators and offering as many reliable payment methods as possible.

This is the second reason why customers leave a site. If they feel that your payment method is sketchy, they’ll bounce!

So consider the most popular payment methods available, like major credit cards, debit, Pay Pal, Google and Apple Pay etc. and you’ll broaden your customer base.

Why eCommerce Startups Fail Reason 3: Misaligned Pricing

So say you’re offering a quality product at a very low rate. You have an ad placed and it starts to send traffic to your website.

You’re excited to make your first sale but nobody is buying.

One reason for this is that your prices are misaligned with customer expectations. Your packing and shipping costs are through the roof and almost half the price of the product.

This means that your pricing and your ads fail to properly align with customer expectations.

You can include the additional shipping cost with the product price right at the beginning to avoid surprise expenses and market the product with “Free Shipping”.

It is all about managing the expectations of online shoppers. If there are hidden costs involved, users will feel like they’ve been lied to and abandon their shopping cart before making a purchase.

It is a crucial aspect and something you want to control. We can say the same thing about misleading ads.

When you present one price in an ad and then show another price once you get to the landing page or checkout, it’s deceptive.

Why eCommerce Startups Fail Reason 4: Return Policy

Your online business can be as successful as they come, but if you don’t have a clear return policy, things can take a bad turn quickly.

For example, if you’re running a dropshipping store and your supplier products fail to meet expectations and customers want to return and get a refund and you have no return policy, you’re setting yourself up for a rude review awakening without any sort of protection.

Also, you should not expect people will jump through hoops to buy a product from a site without a defined return policy.

This is why you need to have every product labeled and identifiable, in case a return is in order.

This is not just a positive aspect from a customer’s point of view. This is something that can protect you too!

Because hey, there are hackers and scammers out there who’ll try to pose as former customers to screw you out of money.

Also, some customers order products, use it for a certain period, and then return it and try to get a full refund. In these cases, if you have a return policy, you can shield yourself from receiving back a damaged or non-functional product.

If the time window of the return is outside your policy, you cannot face any legal actions against you later on.

Why eCommerce Startups Fail Reason 5: Money Management

If you’re starting a new business, one thing is certain: you need money to make money.

In the beginning, you need to fund your business, so you have to know what amount of money you need to execute without any obstacles.

There is a type of money management that you will need to adhere to in the beginning so your business does not run out of money fast.

Make a budget plan and stick to it. Avoid overspending on a particular department and ignoring other aspects of the business.

The inventory is a big part of this too. Your customers will be left dissatisfied if your product takes longer than expected to arrive.

Start by testing a small number of products and see how it goes. After some time, start adjusting the order accordingly.

You don’t need an ungodly amount for online businesses but you definitely need to manage properly and spend money wisely to make more money.

Why eCommerce Startups Fail Reason 6: Ignoring Mobile UX

79% of mobile phone users have purchased something from their phone.

These are the kind of figures that you can use to your advantage. To do that, you need to know how to properly create a mobile user experience that works well.

You can either create a site that is optimized for mobile devices or you can get a customized approach where you can further develop aspects of the mobile version to make it just perfect.

The first thing you need to consider is a test launch.

Before doing the official launch of the mobile version, test it to see whether it functions well.

Put yourself in the shoes of your customer and see if you can work around the site and view the products in all their glory.

Test the mobile site and see if it executes its purpose. Test your forms and the shopping experience on various devices and measure it for speed, accessibility, and visual appearance.

These are the most important bits to take care of when you are launching something new on the mobile market.

When this fails, the eCommerce business fails.

If you need help with improving your mobile experience and mobile design feel free to contact us.

Why eCommerce Startups Fail Reason 7: Crappy Marketing Strategy

So you have an amazing product that solves problems and you think everything will go well but it fails.

Why?

Is it because of the quality of the product? Is there no demand?

Or is it because your branding and marketing strategy sucks?

If you have a product that solves a problem, you need to identify and reach the right audience. Selling snow to an Eskimo just doesn’t make sense, right?

So find your target audience. This target audience can be easily obtained by creating a buyer persona template.

This means you must identify your perfect customer for your product and how to reach them across all channels. You’ll have to create your own ideal character and the culture they live in.

Narrow it down to demographics like age, gender, race, religion, politics, industry, yearly income, and interests to just name a few.

What are they like? What do they do? Where do they hang out? What celebrities and influencers do they follow?

These questions can guide you through the process of creating a solid growth marketing strategy.

Then invest in SEO, paid search, social media, and content marketing. Social and search ads have proven to be an incredible way to drive traffic to websites. Same with viral content generation and campaigns.

Online growth marketing strategies are cheaper and more effective than traditional marketing like TV, print, and radio because you can reach the right people, at the right time, at the right price. You can also track user behaviour in near real-time and optimize your ROI.

Why eCommerce Startups Fail Reason 8: Failing At SEO

This one is considered a rooky mistake because every veteran online business owner knows the power of SEO.

Integrate SEO from the beginning.

How?

Get a web developer who knows SEO because it’s far better and more economical to execute web design and SEO all at once.

But here’s a crash course.

First, identify your main keywords using a tool like Google Keyword Planner. Find the most popular keywords and the most popular low-competition keywords.

You’ll want to consider these keywords when you’re labeling your pages on your site.

Remember: Every informational page and product and service that you publish on your site and want to rank for should have its own landing page.

This means every landing page needs its own focus keyword. Each landing page will feature content about one keyword or product or service, which can also feature subcategory-related products and services.

The designated keyword should be included in your URL, title tags, meta descriptions, header tags, in the first sentence of your starting paragraph, and strategically embedded throughout the landing page.

Your focus keyword should appear 1% – 2% of the overall word count.

This includes your multi-media assets like pictures via alt tag.

This will make your product relevant when it is searched for on the internet.

If you want to give yourself the best chance to rank high in a search, then choose keywords that have the lowest competition rate.

After publishing the page send relevant traffic and backlinks to each page. We can understand how all of this may seem a bit too advanced.

If you need an SEO agency or have any questions about SEO, feel free to contact us for a free consult.

Why eCommerce Startups Fail Reason 9: Skip Planning And Testing Stage

In a perfect eCommerce world, making money is a straight line to the top.

All we’d have to do is pick a product and market it and wait for the 6-figure sales to roll in 30 days after and voila! Hello, dream digital nomad life! Hello, new Lambo! Hello, new hot girlfriend!

Unfortunately, in reality, this is not the case.

You need to find product-market fit. You need to enter a niche market and deliver a product that easily solves a problem. After creating a product that you want to launch on the market, first, you need to experiment.

You may think the product may look really good, but if the test groups that you create do not approve of it, you might need to go back to the research and development phase.

Here’s a quick guide on how to create a minimum-viable product. You want to create a product that solves one problem well and roll it out for testing.

This is why the planning and testing stages are extremely important when you are trying to launch something on the market.

Your test groups give you a fresh insight into what you have created. It is an objective point of view that can lead you to many discoveries.

It’s great for the product itself because you can amend it and upgrade any of its features while understanding what the market wants.

This information is useful in terms of what to apply to your product and how you can appeal to a wider audience. If you manage to get this step right, you are almost guaranteed a successful outcome!

Why eCommerce Startups Fail Reason 10: Saturated Niches

When you are launching a new product, you want to avoid saturated niches.

This is when you sell products similar to something that is already on the market and are too generic.

If there is any chance for you to avoid this scenario, then do it.

For example, if you only specialize in dog collars, then this will not get you very far. But on the other hand, if you specialize in military dog collars, then you might just start going places.

The overall subject here is going a bit deeper than usual. So, when you are looking to place a product on the market, you are not just going to scratch the surface.

You need to go deeper to understand what your customers are after. This deep research will provide you with great success.

Why eCommerce Startups Fail Reason 11: One And Done

Sometimes, things do not turn out the way we expected them to, leading us to disappointment.

This is common in eCommerce. You need to remember that in the world of entrepreneurship, ups and downs are normal.

So, if you fail at one product it’s better to try another one until you find one that works.

Before completely quitting on your eCommerce dream, try at least 3 to 5 products and see how they sell on the market.

Maybe 4 of them will fail, but the fifth one might be a hit!

That’s what it’s like in the eCommerce world, you never know how it is going to turn out.

Why eCommerce Startups Fail Reason 12: Too Much Focus On Front End

Of course, every business owner wants to have a brand that’s associated with success.

And yes, there are people out there who believe having a flashy logo, catchy name or a phrase is the key to a successful brand.

The thing is, these are not the elements that keep a business sustainably profitable.

You need to do so much more than just have a good name for your business. In the long run, the business needs to be maintained and sustainable and work like a well-oiled machine.

Attracting new customers should be easy and they should always feel like they are being taken care of.

Because your customers are the people who keep your business afloat, cherish them, and make their experience with your business memorable.

Make them want to come back for more. Make them want to share your product with their friends and family. Make them into your very own marketing army.

Why eCommerce Startups Fail Reason 13: Poor Site Navigation

As we discussed earlier with the checkout issue, the same goes for your entire website.

Your website must serve a positive user experience. It has to look professional so users and potential customers trust your business and feel comfortable buying from it.

This also means your website should be easy to navigate, meaning users should be able to find exactly what they’re looking for when they land on your website.

Get customers the right information as fast as possible. Meaning, if you’re running ads or organic search campaigns, your titles and messaging should align with the content of each landing page.

Everything should be clear and everything must be available at the tip of your customers’ fingers.

Make sure your website is easy and convenient to use. Make it intuitive too, in terms of browsing from one product to the next.

When you’re clear and straightforward with design and copywriting, you’ll save customers a lot of time and headaches.

They will be thankful for that!

The last thing you want is for your customers to land on your website and bounce off to a competitor site because you failed to make it easy for them to find information and products that you have.

A good way to save lost users is to add a live chat option. Make live chat available so users will be able to chat with you in near real-time through email or text.

Why eCommerce Startups Fail Reason 14: Annoying Pop-Ups

If you’ve been surfing the web in the last decade, you’ve noticed an annoying pop-up or two.

These are the forms that pop-up and feature “useful” information, like, a promo code for a discount or a newsletter sign-up.

Showing the occasional one to users is fair if it ads value.

But, force-engaging users with repetitive annoying pop-ups can lead to a bounce.

There is nothing wrong with having a pop-up on your website, just try not to overwhelm users with it.

This decreases the user experience and leads to a person abandoning your site.

Why eCommerce Startups Fail Reason 15: Mandatory Registration

We have all been there!

Visiting a site for the first time because of a clickbait headline and just after it loads boom!

The content is only available after you register or become a paid member. Ya, you want to avoid this model if you’re a startup. This immediately drives people away from your site.

Think about it. That’s equivalent to a random strange man asking a beautiful woman on the street for her contact and credit card information and expecting positive results — it’s sketchy AF.

If you’re eager to collect customer information and have them commit to your site, hook them with your site content and products first.

Give them the freedom they need, and if you are lucky, they might come back and share an article with their network or better yet, buy something!

Why eCommerce Startups Fail Reason 16: No Customer Service

Whatever you are trying to sell, remember, you need to have good customer service.

If you are trying to sell a product online, people are bound to have questions.

Make a customer representative available. Whether it’s an AI chatbot or a live chat agent feature that gives customers the ability to text a real customer service representative on a mobile device.

A good customer representative option will help customers find answers and the right product as soon as possible.

Being an entrepreneur is not an easy job. With the success rate of eCommerce being only 10 percent we can imagine what the pressure to succeed feels like.

What you need to remember here is to be persistent, use this list as a way to learn how to avoid the most basic mistakes, and never give up!

If you have any questions about our article, “16 Reasons Why eCommerce Startups Fail” or need help with growth marketing, feel free to call us at 1-888-593-4159 or message us on social media.

Oct 08

Love27

150 Growth Marketing Statistics That Give You An Unfair Advantage

By Growth Marketing Toronto AI Marketing, Content Marketing, email marketing statistics, Growth Hacking, Growth Kolony Blog, Growth Marketing Agency Toronto, Local SEO, Mobile App Marketing, SEO, Social Media

150 Growth Marketing Statistics That’ll Give You An Unfair Advantage
By: Growth Kolony

With great data comes great knowledge and with great knowledge comes great power.

So today we highlight 150 growth marketing statistics that’ll empower business owners and professional marketers with the knowledge that’ll help accelerate online growth today.

Let’s get right into it!

Why are growth marketing statistics important?

Growth marketing statistics help you stay competitive

With powerful industry statistics and knowing your competitor’s statistics, your business will be able to size up the competition. You’ll know where the marketing industry is heading which will help you jump through future challenges and stay ahead of the competition that do not follow growth marketing statistics.

Growth marketing statistics keep you on top of trends

This is vital if you want to reveal patterns and trends happening in the online marketing world. With proven data-driven strategies, you’ll find assistance in identifying emerging platforms and strategies.

Growth marketing statistics make room for plenty of other strategies

When you are dealing with this particular type of marketing, you build and improve on what is proven to work. There’s no guessing when the proven data is there. You then can spend time focusing on other tasks, like taking your site through more audits and experiments. Because after all, the efforts you put into growth marketing are fruitless if your website fails to support them.

Important growth marketing statistics

Below you’ll find the latest growth marketing statistics that highlight the industry market.

How big is the growth marketing industry?

1. Currently, US digital and advertising marketing is estimated at $460 billion dollars.

2. In Canada, businesses are expected to hit an estimated $12.3 billion dollars.

3. The global market for the growth marketing industry was estimated at $350 billion in the year 2020 and is supposed to reach $786 billion by the year 2026.

What’s the growth rate of the growth marketing industry?

4. The annual growth rate of growth marketing between the years 2020-2026 is projected to be 9 percent.

5. In 2022 alone, 63 percent of businesses have already increased funding for their growth marketing strategies.

6. The budget rate in growth marketing spending has been noticed to rise 14 percent just within the past year.

7. Digital display is expected to grow to about 15.5 percent CAGR and search marketing is expected to continue to grow at 12.2 percent. Search marketing accounts for 40.9 percent of the marketing and global growth advertising market.

What is the success rate of growth marketing?

There is not one single answer that can explain this, however, here are a few pointers that can guide you in the right direction:

8. The highest reported ROI rate for paid ad channels are Google Ads and Facebook Ads.

9. PPC results in a 200 percent ROI rate, meaning on average PPC ads return $2 dollars for every $1 dollar spent.

10. 50 percent of businesses claim that organic search is what brings them the most ROI.

11. Email marketing returns $36 dollars for each dollar that is spent.

12. Small businesses say that email marketing is the one marketing channel that brings them the highest return when it comes to investment.

13. According to marketers, SEO and content marketing provide the best ROI.

How much of the marketing industry is digital?

14. About 72 percent of the overall marketing budget goes to digital channels.

15. 55 percent of all marketing is digital. Offline marketing in the year 2021 was $196 billion dollars and online marketing cost $436 billion dollars.

Is growth marketing in demand in 2022?

16. The demand for a growth marketing job is expected to increase by about 10 percent by the year 2026 – that’s above average for all careers.

More Interesting Growth Marketing Stats

17. An average local business invests about 5-10 percent of its revenue in growth marketing, and we’ve seen larger businesses invest up to 14 percent of their revenue in growth marketing.

18. Customers spend 50 percent more on businesses that respond to reviews regularly.

19. 93 percent of people read online reviews before making a purchase.

20. 78 percent of consumers trust peer recommendations while only 14 percent trust advertisers. Prospects spend 5 times longer on a certain site after reading negative online reviews about a business.

21. Google is currently holding 91 percent of the complete worldwide search engine market share.

22. 45 percent of shoppers buy online and then pick up in-store.

23. Three-quarters of businesses report how growth marketing campaigns directly influence their overall revenue.

24. 52 percent of businesses are using marketing attribution reporting.

25. 62 percent of marketers use CRM software for reports.

Online Marketing Statistics For 2022

If you have a strategy that needs framing, look at these data points below.

The following online marketing statistics can help you understand how much you need to spend and which channels.

How effective is online advertising?

26. Digital ads increase brand awareness by 80 percent.

27. Consumers have a 155 percent more chance of looking into your website and brand-specific terms after they have been exposed to display ads.

28. Customers are 70 percent more likely to purchase from a retargeting ad.

29. When a potential customer searches after initially seeing an ad, the likelihood that they’ll buy goes up to 59 percent.

30. A user’s search activity increases by 155 percent after being served a display ad.

31. After seeing a display ad, 27 percent of customers search for the business.

32. PPC can generate double the number of website visitors that SEO brings in. The more you spend the more traffic you can expect.

33. 86 percent of people would pay more for services from a company with higher ratings and reviews.

How big is online advertising?

34. The total ad search funds spent in the year 2021 was $144 billion dollars.

35. On a global level, the digital ad spend for the year 2022 currently is $441 billion dollars, and it is estimated to increase in 2023 to $485 billion dollars.

How much advertising is online?

36. Out of the total advertising expenditures in the year 2021, 4 percent is accounted for digital advertising.

37. 50 percent of advertising in 2020 was conducted online – offline advertising spend was $196 billion dollars and online advertising spend was $378 billion dollars.

38. The annual growth of digital media is higher than offline media.

What is the percentage of online advertising on social media?

39. Out of all digital spending in 2022, social media accounted for 33 percent.

40. The annual spending on social media in the year 2022 currently is $134 billion dollars. A 17 percent YoY growth increase.

41. Paid social traffic makes up for 5 percent of overall website traffic and 15 percent is paid search traffic.

42. 4 percent of digital marketers want to increase their paid social spending in the next year.

Is online growth advertising popular?

43. 65 percent of mid-sized and large businesses have a PPC campaign.

44. 45 percent of all businesses have a paid search strategy set in place, and they use display ads too.

45. 96 percent of revenue in Google comes from Google Ads.

Even More Growth Marketing Statistics

Go through the following PPC statistics before investing your money in paid advertising.

46. 18 percent is the average click-through rate across all of the industries for Google Ads.

47. 8.82 percent is the average conversion rate in all industries, ranging from 3.25 percent to 19.19 percent.

48. $41.40 dollars is the average cost per lead across all industries, ranging from $14.88 to $73.70.

49. $3.53 dollars is the average cost per click in all industries.

50. Digital ad fraud cost advertisers $22.4 billion globally.

51. Only 20 percent of marketers use A/B tests to improve conversion rates.

52. 70-80 percent of people completely ignore digital paid ads.

SEO Statistics For 2022

If you want to take a look at the bigger picture and check whether your business is a good fit for SEO marketing, here are some SEO growth marketing trends and statistics that you might find useful.

How much is the SEO industry worth?

53. Currently, the SEO industry is worth about $80 billion dollars. In the year 2019, this industry was worth half at about $43 billion dollars, and it is predicted to go up to $86 billion dollars in the year 2023.

How much traffic does SEO generate?

54. 53 percent of website traffic derives from organic searches.

55. Businesses that commit to blogs pull in 55 percent more traffic to the website when compared to sites that do not blog.

Is SEO relevant today?

56. 61 percent of marketers report that website traffic generation is their number one priority, so yes.

Does SEO increase the ROI?

57. SEO leads have a 15 percent closing rate.

58. 85 percent of retailers report that SEO and paid search are most effective for getting new customers.

Do big companies spend money on SEO? And how much?

59. Depending on their strategy, big companies commit between $10k-$20k dollars every month to SEO.

60. Small to medium businesses spend about $5k-$10k dollars every month on SEO.

61. Small businesses spend about $1k-$5k dollars every month on SEO.

How many people go to the second page on Google?

62. Between 75-93 percent of users never look past page 1 Google. This means every time a business fails to rank for keywords on any given search query, they lose 75 percent to 93 percent of daily impressions.

What defines a good organic search performance?

63. When it comes to Google organic search, the top-ranking site has an average CTR of 31 percent.

64. The industry standard for organic CTR is between 3-5 percent.

More Growth Marketing Statistics For SEO

If you feel unsure whether you should spend more money on SEO, check out the following SEO statistics below.

65. 89 percent of customers start their customer journey with a search engine.

66. 46 percent of all Google searches are search queries for local services and local products

67. 29 words is the average voice search query. If you want to dominate voice search and perform well, you’ll have to be clear and concise with your brand name with power words.

68. 28 percent of local searches result in a purchase within 24 hours.

67. When you are ranking a website, there are over 200 search engine ranking factors from the algorithm that you need to consider.

68. 88 percent of people who conduct a local search on their smartphone visit a related store within a week.

69. SEO content is important for growing your business. Brands that blog have 434 percent more indexed pages than brands that don’t blog.

70. 76 percent of people who search on their smartphones for something “nearby” visit a business within a day.

71. The most heavily used SEO tool is Google Analytics.

Growth Marketing Statistics For Social Media For 2022

These are the type of statistics you do not want to miss out on because marketing in social media is growing by the minute.

How large is the social media market?

72. The global social media market is estimated to be worth $223.11 billion.

How much of marketing is done on social media?

73. On average, businesses focus about 15 percent of their marketing budget on social media.

Should I advertise on social media?

74. Yes. 91 percent of businesses use social media for their marketing.

Is the social media industry competitive?

75. At the moment, there are 55 million companies on LinkedIn.

76. 93 percent of all businesses are found on Facebook and 86 percent of them take advantage of Facebook advertising.

77. There are 200 million businesses on Instagram and 30 million on Snapchat.

What is the fastest-growing platform on social media?

78. TikTok is one of the fastest-growing social media platforms in 2022.

79. 40 percent of overall businesses have joined TikTok in the last year and made it a part of their social media strategy.

80. TikTok reached 1 billion active users in just five years while it took Facebook eight with 100 million of those users based in the US.

What is the most popular social media network?

81. The most popular social media platform for the year 2022 is Facebook, although the information may vary depending on what your business is specifically searching for.

According to Statista’s data here are the following most popular social media rankings:

1. Facebook

2. YouTube

3. WhatsApp

4. Instagram

5. Facebook Messenger

6. TikTok

7. QQ (Chinese messaging software)

8. Douyin (China TikTok)

9. Telegram

10. Sina Weibo (Chinese microblogging site)

11. Snapchat

12. Kuaishou

13. Pinterest

14. Reddit

15. Twitter

16. Quora

More Social Media Marketing Statistics

82. An average adult spends about two hours a day on social media.

83. Almost all Instagram users follow at least one business.

84. 91 percent of consumers have access to a social media device.

85. Nearly half of consumers rely on recommendations from influencers. Make sure to research this thoroughly and see how you can best approach influencer marketing.

86. Less than 5 percent of businesses on Facebook use video ads, so if you are looking for a way to stand out, here is it!

87. 80 percent of businesses use Twitter ads to build their following and sell products.

88. 265 million users on Snapchat open the application about 30 times on average daily. They are more inclined to make impulse purchases and are more likely to buy a product or a service from their mobile device.

89. The average swipe-up rate on Snapchat is about 50 percent and the cost per swipe is between $0.30-$1 dollar.

90. The most trusted social media platform is LinkedIn.

91. 80 percent of B2B businesses use LinkedIn advertising and almost 96 percent of them use LinkedIn for organic social media marketing.

92. 30 percent of the business engagement on LinkedIn comes from their employees.

93. If you are interested in audience targeting, LinkedIn Ads is the best platform for it! Marketers can choose from over 200 targeting characteristics.

94. TikTok is the best social platform if you are looking to have a high engagement rate per post.

95. More than 70 percent of the users on TikTok find the ads inspiring and even enjoyable!

96. 25 percent of TikTok users have either purchased or researched a product or a service once they have seen it on the platform.

97. 95 percent of the users on Pinterest have the app either to make a purchase or plan a purchase.

98. 52 percent of Pinterest users report seeing something first on the platform and purchasing it later on.

99. 64 percent of users that watch branded videos on social media end up making a purchase.

Email Marketing Statistics For 2022

If you are interested in knowing how effective email marketing can be, take a look at the statistics below.

How much is the email marketing industry worth?

100. Currently, the email marketing industry is worth $9.62 billion dollars, but it is expected to grow up to $17.9 billion dollars by the year 2027.

Is the email marketing industry a large one?

101. As the numbers and projections are coming in, the email marketing industry is expected to grow to 48 billion users by the year 2024.

What is the success rate in email marketing?

102. 80 percent is the average open rate across all industries and the average click-through rate is 2.78 percent. Small businesses have confirmed that the highest return on investment they have had is through their email marketing strategy.

What is the average ROI for email marketing?

103. The average ROI for email marketing is $36 dollars for every dollar spent.

What percentage of emails are from marketers?

104. It is widely known that marketing emails are the most prevalent ones in our inboxes. There is not a piece of specific information and number that is considered a confirmation, but since 2 billion emails are being sent each day, people receive about 120 marketing emails on average each day.

Is email marketing working in 2022?

105. Email marketing is the second most popular marketing channel, just behind social media. There is a 2 percent difference, so yes, it is a strategy that still works.

Is email marketing a growing tactic?

106. Since it is estimated for the email marketing industry to double within the next three years, this is considered to become one of the most popular strategies for both marketers and users.

107. Email marketing is constantly growing. The global email marketing industry was worth $7.5 billion dollars in the year 2020 and it is estimated to reach $17.9 billion dollars by the year 2027.

108. In the year 2020, 78 percent of marketers claimed that email marketing is important for a business to succeed, in comparison to 71 percent in the year 2019.

Even More Growth Marketing Statistics For Email Marketing

109. About 64 percent of small businesses claim they use email marketing strategies to reach their audience.

110. Every fifth email campaign is not mobile device friendly.

111. About 80 percent of all marketers claim that they would rather give up social media marketing than email marketing.

112. Email marketing is a low-cost way of promoting your business and 64 percent of all small businesses take advantage of it.

113. A third of all people open up an email just because they find the subject line interesting.

114. 47 percent of people decide to open an email solely based on the subject line.

Website Statistics For 2022

If you want to improve your website performance and visibility, these are the statistics you want to be looking at.

Why is conversion rate optimization important?

115. It takes people less than a second to form an opinion about a website.

116. If the layout of a website is not attractive, about 38 percent of people will leave the site.

117. Three-quarters of customers judge a company’s competence and credibility based on the design of its website.

118. Websites that look good and have a high-level user experience have a 400 percent higher conversion rate.

What’s the industry standard for website page speed?

119. Half of the users expect the loading time of a website to be no more than two seconds.

What percentage of companies own a website?

120. About 72 percent of businesses own a website.

Even More Growth Marketing Statistics For Website Design

121. About 60 percent of people said they would not recommend a business if it did not have a good website.

122. 40 percent of people will leave a website if it is not functioning properly.

123. 70 percent of small businesses do not have a call-to-action on their website.

124. 90 percent of people will go to your competitor and purchase if your website is not working well.

125. Businesses that invest in user experience get an ROI of $100 dollars for every $1 dollar spent.

126. 44 percent of users share their negative experiences with bad websites.

127. Only 28 percent of the text on the homepage is read by users.

128. 73 percent of businesses invest in better design to attract potential customers.

129. 90 percent of the website pages are not generating organic traffic.

130. More than half of the website traffic on a global level comes from mobile devices.

131. Bounce rates increase by 50 percent when load time is longer than 2 seconds.

132. 85 percent of people abandon a site (even mid-purchase) if they realize that they are on an unsecured website.

133. 43 percent of all small businesses that own a website are planning on improving their presence and performance this year.

134. 60 percent of marketing professionals don’t know or don’t understand their Core Website Vitals.

135. Video marketing is the most popular media tactic used by content marketers.

136. Businesses that use video marketing grow 50 percent faster than businesses that don’t.

137. 49 percent report that they grow revenue faster when they use video content.

138. 73 percent of customers are willing to spend more with a business if it had complete transparency.

139. Prospects are 35 times more likely to read a mobile message than an email.

140. Only 17 percent of professional marketers use landing page A/B tests to improve conversion rates.

And More Bonus Growth Marketing Statistics…

141. Customers are 4 times more loyal to environment-friendly brands.

142. 70 percent of marketers are actively investing in content marketing.

143. 87 percent of professional video marketers report that video has increased traffic for their website.

144. LinkedIn live streams have more than doubled since 2020 increasing by 158 percent.

145. 53 percent of professional marketers report webinars are the top-of-the-funnel format that generates the most high-quality leads.

146. The average cost-per-click in marketing is $3.33 and the most expensive marketing industry keyword cost-per-click is $165.

147. 80 percent of consumers report that they only download apps from brands they know and trust, while 72 percent are concerned apps are tracking their behaviour and movement.

148. 78 percent of salespeople who leverage the power of social selling outsell their peers who are not.

149. 80 percent of customers prefer watching videos to reading help articles.

150. 61 percent of professional marketers believe search engine optimization is the key to online success.

If you have any questions about the growth marketing statistics above or need help with growth marketing for your business, feel free to call us at 1-888-593-4159 or DM us in near real-time on Facebook, Twitter, Instagram, TikTok, LinkedIn.

Jun 08

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Viral Success Stories: How These 8 Brands Went Viral

By Growth Marketing Toronto Growth Kolony Blog, Content Marketing, Growth Hacking, Growth Marketing Agency Toronto, Social Media, Startups

Viral Marketing Success Stories: How These 8 Brands Went Viral

By: Growth Kolony

You’ve likely heard the phrase “go viral” before and it’s something every online brand or business hopes to accomplish one day.

However, there is no simple formula to make a campaign go mega-viral all the time.

Many online brands are blindsided and believe simply adding bells and whistles to low-quality content on a trend will help them reach virality, but there’s more to it.

The truth is most viral marketing success stories are based on many years of long hard work or in exceptional cases a lucky guess on what can lure people’s attention.

And if you ask the businesses who’ve gone viral, like the ones below, oftentimes they’ll tell you that it wasn’t planned and that it felt like hitting a home run on your very first attempt.

Surely, going viral can be an incredible way to propel your brand into overnight stardom.

But we caution you from trying to build your company solely on virality because it isn’t easy for many companies and it isn’t sustainable.

Instead, we suggest brands consistently create content that is either:

informational;
educational;
entertaining
or all three at the same time if possible.

That way new fans and existing ones engage with your brand on a consistent basis and ultimately develop a relationship with you.

Then after building a decent strong loyal audience, the chances of you going viral on any given day increases.

Why Do Brands Want Virality?

If done right, viral marketing can have all sorts of benefits including increased brand awareness and credibility.

At its core, it’s an advertising strategy that’s relatively inexpensive when compared to traditional strategies and paid media.

You’ll see in this list of the most viral videos ever that viral content production can be done without a team of professional videographers and producers — DIY creators go viral all the time.

But considering we’re growth marketing professionals, in this article, we look at some of the most original viral marketing examples in business and highlight the marketing strategies used by each campaign.

Let’s get right into it!

Viral Success Story 1: Purple’s Video Marketing

Purple decided to produce a series of short videos showing how their comfort-tech mattresses are better than the mattresses created with regular memory foam.

Using video content as their medium, Purple gradually became well-known for creating videos that were informative and funny, so naturally, when these videos came out, they were a huge hit!

Their videos consistently hit the multi-million mark and the video below has over 183 million views on YouTube and all of this is because of their series of consistent witty content.

They show in about 4 minutes how the raw egg test is done by none other than, Goldilocks!

They decided to carry it out in a manner that would include the character from a fairy tale with three bears.

They featured an incredible product that was engineered from a unique material and that makes everything easier.

However, just having an excellent product was not going to do the trick, they needed to go the extra mile and create an online advertisement that went the extra mile and appealed to the digital audience.

If you’re a growth marketer online, you know “How-To” pieces perform well.

Why?

Because they’re informative and educational and sometimes entertaining.

And Purple’s viral marketing example shades all the boxes.

The viral title “How To Use A Raw Egg To Determine If Your Mattress Is Awful” instantly grabs the attention of viewers with beds, which is a large demographic.

And it wasn’t only the copywriting that stood out, they also coupled it with video content, which also performs well online.

They showed 4 eggs intact after being attached to a heavy glass panel that was then dropped onto their Purple mattress.

It was a great use of all elements and it earned them the fame it deserved.

Viral Success Story 2: Beardbrand Authority Content

This is one amazing example where good content marketing can get you the exposure you want at a low cost.

Since beards and men’s grooming became a trend over the last decade, this was just what the founders of Beardbrand needed.

They created a platform and online shop called Beardbrand, an online community where anyone can share stories and find all sorts of useful educational material on men’s grooming.

But putting their informative and educational articles aside, their presence and the interest in their site grew mostly because of their look and branding.

One of the founders was featured as a “beard expert” and from there the site took off.

They took the site even further and created more products and made an entire lifestyle around it becoming a high-authority source for beard culture and men’s grooming.

They understood the assignment and soon after it was not only beards and styling they were talking about but also hobbies for men and literature too.

With consistent content that targeted their ideal buyer personas, they positioned their site for viral success and from there created a path that moved into other relevant niche products for growth.

Consistent informational, educational and entertaining content is the key for community growth.

It is considered one of the most powerful and effective tools that attract people.

Because it lures in your target audience without forcing them to buy anything.

Free content helps you position your products or services in front of your ideal customer.

And chances are, after a while, they will turn to buy something from your site.

Viral Success Story 3: Dove Inspires Women With Experiment

If you shower and hopefully you do, you’re probably familiar with the company Dove and their products, so no introduction is necessary.

In this video, they documented a social experiment that featured women and a forensic sketch artist.

It was simple.

Each woman was told to describe themselves to Gil Zamora, an FBI trained forensic sketch artist behind a wall.

The forensic artist would then draw them as each woman described themselves.

Then a second portrait was sketched of the same woman through the eyes of another person, which showed to be more attractive then the self-described photos.

And since it was a video filled with raw emotions, it quickly turned into one of the most viewed videos of all time, creating much more fame around the products.

Since Dove is already a well-known company, they have had all of the resources and professionals they wanted to finish the project.

But even then, any brand can create this low-budget “reality-tv” piece of content.

The brilliance of the social experiment proved women wrong about what they initially thought of their looks, and that they were more attractive than how they saw themselves.

It was simplified and was created in a very light way.

And again, the targeted piece of content was informative, educational and entertaining.

Viral Success Story 4: Tommy Hilfiger Goes Outrageous

The ridiculous campaign that went out in 1985 was just the twist Tommy Hilfiger needed.

It was considered outrageous in the era where there was no viral marketing like the ones we are used to today, but, it still made the impact it was intended.

Back then, Tommy Hilfiger was an unknown struggling designer.

But when advertising genius Georg Louis suggested Tommy Hilfiger present his name on a large billboard next to some big household designer names, he was in shock.

Even though at the time he was a nobody, he still decided to do it.

The billboard was hung at Times Square in New York, with his name among the likes of Ralph Lauren, Calvin Klein, etc. and it worked perfectly for him!

The campaign was a success and immediately started a create buzz around the Tommy Hilfiger brand.

People wanted to get to know the brand and understand how it worked and what it offered.

The marketing strategy they decided to go with here was a word-of-mouth strategy.

The billboard created a sense of mystery around the fourth American designer.

After the brand was recognized after the campaign, Tommy Hilfiger decided to work even harder on reaching the goal of being one of the top 4 American designers.

The ad itself was a perfect place to start.

They had heads turn for their company and their products, but it would not have been as successful as it was if the products were not good themselves.

So in this case, taking a risk is always considered to be a good thing.

However, you always have to make sure you deliver once you take the step into going big or going home.

It turned out good for Tommy Hilfiger.

His brand is a recognizable fashion statement and well-known all over the world.

Viral Success Story #5: Old Spice’s Once-In-A-Lifetime Ad

When one thinks of men’s body deodorant, the first thing that comes to mind of many is Old Spice.

The reason for this is because of their incredible campaign that captured the dreamy vision that society has when it comes to men.

It is considered to be one of the most successful campaigns of all time and it earned them the reputation of being a world-famous company.

Their sales went through the roof after the campaign was released to the public and it received excellent feedback and reviews.

Their ad shows a man who claims that when he uses Old Spice, anything in the world can be made possible.

It is a single-shot video where the main character of the video is seen riding a horse, then on a sailboat, all the while his bathroom was his starting point.

Old Spice saw that the campaign was very successful, they made some more ads that similarly appealed to the public eye.

When the reviews were in, Old Spice was in too.

The campaign was big business!

Relatability is key.

If you have a product that needs to be placed in the market or want to improve an already existing product, then the focus should go on making it a more relatable product for your target audience.

The people who were behind the campaign for Old Spice did a very good job investigating the market, what is already placed out there (and how), and determining the right target group designed specifically for Old Spice.

This is what made things easier for them and created a feeling of connection between the campaign and the viewers – resulting in sky-high sales.

They did everything right.

Viral Success Story #6: Skittles Taste The Rainbow

When one thinks of a rainbow, the first thing that pops into the minds of people is not an actual rainbow but other things like rain, LGBTQ+, or rather the incredible burst of the taste and colour found in a bag of Skittles.

This campaign was not a new one, but their approach surely was.

The original slogan “taste the rainbow” was created in 1994, however, it is still being used today.

There is a catchy undertone to the entire expression and it does not take a genius to see that this is the type of campaign that will stick for a long time.

In the original ad that was released in 1994, it showed that you can make quite a few combinations from the various Skittles flavours and in each case, you would taste the rainbow in your mouth.

Even if you decided to take the Skittles one at a time, the effect would be the same as you would still taste the rainbow!

And through the years that followed, Skittles had made some variations of the original slogan that sounded like “Find the rainbow” or “Harvest the rainbow” but in the end, it all boiled down to tasting the rainbow every single time.

Since their target audience was teenagers and children, the success after releasing this campaign was imminent.

The campaign was spot-on, that it is what made it so popular and made Skittles’s sales rocket!

Viral Success Story #7: Greenpeace And Iceland Make An Impact

Throughout its history, Greenpeace has always been very well known for creating a voice of its own and standing its ground with its marketing.

Their campaigns mostly include controversial material and can be made political too.

However, the case for their campaign that we are going to dissect today went viral for neither of the reasons above.

The campaign was called “Rang-tan in my bedroom” and as soon as it was released, it went viral, and within a few days, millions of people from all over the world were watching it.

The campaign made companies sign the Greenpeace petition that pledged to use only sustainable ingredients in their products.

Such a case was the one with Iceland, the British supermarket, that signed with Greenpeace and managed to remove all products that contained unsustainably sourced palm oil.

According to the Financial Times, this move and the campaign overall helped Greenpeace make quite an impact.

It received a whopping $70 million and is considered to be one of the most successful Christmas campaigns of all time.

The success is measured not by the funds that it received, or for the ability to go viral for such as short period of time, but for the peak that was noticed in the sales of the said British supermarket.

The numbers went through the roof.

The key to this particular campaign was understanding the current issues the world is dealing with and how to connect it with buyers or your target group and make an impact all the while increasing sales.

This was the perfect opportunity for them and they seized it at the right moment.

Solving the problems and servicing the needs of customers should be a top priority for everyone involved in the business.

Viral Success Story #8: Barilla’s How To Make Al Dente Pasta

Barilla is well known around the globe for being one of the leading pasta manufacturers in the world and their products are connected to high-quality taste.

Since Barilla had been fond of traditional media, they suddenly surprised all of their loyal customers (and everybody, really) by creating a Spotify playlist for cooking different types of pasta.

The aim of this is to achieve the perfect al dente pasta while listening to great music.

To be honest, the approach was perfect.

Because when you’re cooking, you want to set the atmosphere with cooking music.

The world loves pasta, whether it is cooking it or eating it, and Barilla led their minds into a completely different setting.

Now when you’re searching for cooking music, you think of Barilla.

They created 8 different playlists for 8 different types of pasta and let the audience enjoy themselves.

The music they included was filled with joy and was the perfect excuse for anyone to come home, put it on and make their favourite pasta dish that evening or any other evening for that matter.

This is how Barilla used music content to attract new customers from a new medium.

Their incredible playlists have been played thousands of times and they have gained plenty of new followers.

Food brings friends and family closer together and music creates an environment for good times!

And of course, what better way to learn how to properly cook pasta than with some Barilla pasta, right?

Summary

And there you have it fellow growth hackers: 8 examples of viral marketing success stories.

When you create consistent content that’s informational, educational, entertaining or all three in one for a target audience, you’ll drive consistent eyeballs to your products and services and become an authoritative voice and trusted resource in your niche industry.

After building a consistent following, the chances of going viral for each campaign increase.

If you have any questions about growing your online business and attracting new customers feel free to call us at 1.888.593.4159 or chat with us in real-time on Twitter.