Last Friday, March 11th, we had the pleasure of visiting the second Digital Marketing Conference in Passau. It was organised by Prof. Dr. Jan H. Schumann and his chair members at the University of Passau. The conference covered various topics from field research in the digital marketing sector, such as personalised online marketing, online bidding and mobile marketing. However, not only was field research present, but also insights about for instance Omni-channel management by Google and the legal aspect and boundaries of online marketing.
It was an interesting conference to gain insights into online marketing from an academic perspective and what is actually being researched. We’d like to share some key take-a-ways from this conference with you.
As already mentioned, Google was present at this conference and talked about Omni-channel management and why it is important to pay attention to mobile. According to Google, 85% of online users start their product research online and only 11% of these searches are brand targeted. Almost 50% buy offline after researching online. Of these, 20% made purchases offline after researching online in the physical store. Google found that the ROAS of these purchases was 2.4 times higher compared to customers who did not previously research before entering the store. The conversion rate of mobile might be smaller, however it adds significant value to the overall performance.
Return Delivery Management
One of the most thought-provoking presentations dealt with return management. The fashion industry has one of the highest return rates in online marketing and there are mainly three different approaches to manage this challenge:
- Monetary instruments
- Customer based instruments
- Process oriented instruments.
According to the research of Prof. Dr. Gianfranco Walsh and Michael Möhring, customer based instruments were the most effective approaches. One of the principal reasons for returning products back is that, for instance, many order the same products but in different sizes and send back the ones which fitted the least. So, the more extensive and detailed the product information is, the lower the return delivery rate should be.
To conclude, the conference was very insightful and we had the chance to talk to some professors and professional researchers in this field. We are very excited and looking forward to the follow up event 2 years from now.