New tariffs. Another reason to have your data in order.

How else will you know their impacts?

RECENT STATS (Source):

➡️ 71% of retailers reported that tariffs have led to price increases for their products, with the average price increase being around 10%.

➡️ 44% of consumers reported changing their shopping habits due to the tariffs.

➡️ 63% of retailers reported that tariffs have increased their costs, with 44% saying the increase was significant.

➡️ 55% of retailers reported that tariffs have reduced their profit margins.

➡️ 35% of consumers reported reducing their spending on discretionary items due to the tariffs.

I always take stats with a grain of salt, but I share these primarily to convey impact.

WHAT I MEAN BY DATA:

📊 Have analytics data (quantitative data) that shows you the numbers. It's surprising some companies still don't have any at all. Whether that's with one platform or multiple, make sure your full funnel is covered and that you're tracking all of the proper data points. This is foundational to any business. If you don't, you're way behind your competitors. Guaranteed.

📊 Make sure your data is clean and quality. If you can't trust your data, then you're wasting your time with it. QA it across platforms. Check all of your integrations. Discrepancies among different datasets should be 10% or less...but the lower that percentage, the better. (Know that 0% is almost never going to happen though so that would be an unreasonable expectation.)

📊 Have reports and dashboards. Use automations as it makes sense to do so. Make your data easy and quick to use. If data takes forever to deal with every time you want to use it, that's not very helpful to anyone.

EXPECTING ECOMM LOSSES?

HERE'S WHAT YOU CAN DO:

🚀 Conversion Rate Optimization. Make up your losses by offsetting them with gains elsewhere.

→ Dive deeper into quantitative AND qualitative data to understand your website and landing pages.

→ Use those insights to improve the user experience, fix bugs, better convey why users should buy from you, and much more.

→ Make decisions based on data.

→ Test your decisions to know you're making the right ones. There's no room to fail from guessing and not knowing.

DON'T DO THIS:

❌ Dump more money into PPC and SEO alone to simply get more traffic.

→ That's like having more customers flood your store in town with no additional salespeople or inventory.

→ The store is going to become a mess and you're not going to capitalize on the opportunity. What a waste.

→ You should optimize your store, focus on the traffic you do have, and then also consider trying to get more people into it.

What impacts is your company expecting? Are you ready?

eCommerce teams, I'm looking in your direction... 👀

👋 My entire professional life has been dedicated to helping businesses with all of this. I LOVE it. If you need help with any of this, let's talk. I'm here for you.

3 Easy Ways to Understand Why Something is Happening 🤔

Why is this happening?

It's a question marketers have all the time.

Why are conversion rates dropping?

Why are users falling out of the funnel?

Here are some quick ways to help you understand the "why" of something.

1️⃣ Polls: Minimal effort. It can be one question. Free or low cost.

2️⃣ Survey: A little more effort. Still easy. Free or low cost.

3️⃣ Customer interviews: More work but super rich insights. Free or low cost.

S/O to AB Tasty for letting me participate in this fun Optimization Snaps series.

#StayChirpy

Want to connect? Reach out to the Founder, Haley Carpenter, at [email protected].