Issue #20
In This Issue: Vile Rumour & Gossip | The GA4 Debacle | NRF Download | Some tips on “Nurture” | Readers' Requests
A chilly few weeks, but many of us saw real drunk IT people at NRF so we’re all happy and tired at the same time. This issue will be a little more ABM-focused due to the time of year and the reawakening of SaaS marketing – so eyes down people.
Vile Rumour & Gossip
The word on the street is that SFCC are winning 1 deal for every 40 they lose to Shopify+ currently. We truly admire the tenacity and fervour of the Salesforce teams, but the market is making its feelings clear currently.
We are sensing a real fatigue amongst retailers to the word “Omnichannel”. Some of us have had to suffer this word for more than 13 years, and for all marketers reading it's time to move on. They HATE it!
The southern European markets are moving quickly to eCommerce it seems. Much more action in Spain and Italy this last 18 months, and the merchants are making much simpler choices than the Composable platforms might have hoped. One platform lost all 22 deals they bid for in 2023, whilst that more “mid-market” player won about the same number. No surprise really - brand owners always loved the “does it all” messaging.
The GA4 Debacle
For many years, GA has been the “anchoring point” for merchants. They measure themselves using it, benchmarking all traffic and conversion. Simples. Google has definitely messed it up this time around though. Our Commerce Futures community has, to a member, expressed frustration and confusion about the switch. In the main they’ve set it up “OK”, but nobody… and we mean NOBODY is using it as their analytics hub.
The question now becomes – which tool to export to? Will the business trust the new reports when they emerge? Which new metrics are people going to hang their hat on? So much to debate.
The visualisation platform that wins will 100% see a huge sales increase. Tableau must be rubbing their hands with glee we reckon.
NRF Download
We’ll leave others to report on the tech. For that, you could do worse than read Paul Sims from Primark’s download here.
This year seemed 20% busier with footfall than last year IMHO – but the noisy desperation of vendors seeking a conversation was palpable. Trade shows remain a big big bet – Spend and Pray.
Of course, unlike Shoptalk the real action happens outside of the show. We counted 30 store tours just amongst our own clients, and these are really well attended. Approx 20 parties each evening and a mammoth VTEX gig on Monday meant that in general the medium to big vendors are spending 40% of their NRF budget in the hall, and 60% on other stuff. It’s pricey!
Props go the MACH guys for easily the best side-gig location of any show we’ve attended. MACH Haus was 2 mins walk from the show and lovely to retreat to.
Some Tips on “Nurture”
What to do with all those “leads” from NRF and other activities? Please… don’t be tempted to force a conversation. Do NOT just lob them to BDRs and attack. Let’s try something shall we? How about:
1.Record the context of your conversations with each lead so that your BDRs can at least refer to that conversation properly when engaging.
2.Send an NRF roundup piece… NOT all about you, steal from an independent or a merchant who has given their perspective. Be useful!
3.Use that retailer video interview you captured at the show (you did that right?). 90 seconds max.
4.Invite them to that social thing you’ve scheduled for Shoptalk Europe / Shoptalk US – not planned that? Get cracking! (or we can help)
5.Enable follow-up in person from BDRs or preferably the person who had the show conversation, focus ONLY on the challenges the prospect talked about and gently set up that 1:1 call to explore the opportunity further.
Simples 🙂
Readers’ Requests
This newsletter has a reputation for honesty and sometimes saying what others cannot, and so we are getting requests for us to mention little nuggets anonymously. We’re nobody’s bitch but let’s see shall we!
This issue’s nuggets are:
Much hilarity at various rebrands that have gone on amongst the SaaS vendor community. It feels as if there is polishing being done before IPO or sale, but the word “Pacman” keeps cropping up.
Some unkind comments about Shopify’s acceleration – “How can we stop them” we hear, our own response is “Stop being smug and start competing on functionality”.
We have had some barbed comments about the “low code” iPaaS integrators. These have come from SI’s who like building custom integrations… more to come on SI selection and the overall SI model in coming issues.
Tunnel vision for Q1 now – time to shine you lot!
Buyingtime Dictionary
Frequently used (but never about you) phrases from Buyingtime Ltd.
Mastercard
/ˈmæstə˞ˌkɑrd/
adjective
1. They'll always take the credit for your hard work*
"The cheering stops. Your boss steps off stage. "They love me!" He says. "...f**king Mastercard," you mutter."
*This is actually a reader contribution - Many thanks Marcus.
