UK retailers relying on internet for sales growth

Marks & Spencer announced their Q3 UK like-for-like sales were down 7.1%. During the same period, their online sales increased 29%. Debenhams like-for-like sales for the 12 weeks beginning 21st Oct 08 were down 3.3% whereas their online sales were up 37%.

Smart retailers know that the internet can help grow their sales and cut their costs. As someone who has been active in internet marketing since 1996, I am clearly an internet advocate. However, in my view the majority of UK business websites fail to perform well. So in these tough economic conditions, it is crucial to make sure you focus on getting the best marketing return on investment.

Amazon's approach

Regular readers of my blog will know I am a great admirer of Amazon. Their Chairman & CEO, Jeff Bezos is widely quoted as saying 'We are not great advertisers. "So we start with customers, figure out what they want & figure out how to get it to them."

3 Ways to transform your internet marketing ROI

In my experience, there are 3 key ways to transform your internet marketing ROI:-

1) Attract more target prospects 

As Jeff Bezos says, you need to start with the customer. What customer segment or profile do you want to attract? What problem are you trying to solve for them? Have you developed a compelling brand thought?

Are you making full use of KeyWord Research, Search Engine Optimisation & Google Pay Per Click advertising to make it easy for target prospects to find your website?

2) Convert more website visitors to valuable customers

Do you have a strategy to capture website leads? Do you have a strategy to follow up and convert these leads? e.g. email marketing.

Is your website designed to do business?

Is measuring marketing ROI a key part of your web marketing strategy? 

3) Grow customer lifetime value

Do you have strategies in place to grow customer lifetime value?

If your website is failing to perform, don't delay and let others steal your business.

Remember...web marketing is about solving customers' problems profitably.

Peter Hawtin is an internet marketing specialist with Brand New Way, a UK web marketing agency which helps companies to attract and retain valuable customers online.