41 Takeaways from Magento Imagine 2014

Sin City’s motto might be ‘what happens in Vegas stays in Vegas’ but on this occasion there are a lot of things worth shouting home about.

After an exciting, but exhausting, three days at Magento Imagine we have managed to cram our brains with an awful lot of information. With over 1,700 world experts, from over 35 countries, joined together in one hotel, we were enlightened with some of the latest technologies, trends and industry forecasts.

Here are our key takeaways from this year’s Imagine:

Web & responsive design

  1. Responsive sites have grown from 1% in 2012 to 16% in 2013
  2. Design your website from mobile to desktop rather than the standard desktop to mobile
  3. Redesigns often bring negative results instead of increasing conversion rate and average value, so prepare for the backlash
  4. We’re stuffing too much ‘shit’ into every page ( Brendan Falkowski’s words)
  5. The median page load time is nine seconds

Retail and ecommerce

  1. Major brands with brick and mortar stores are cutting store sizes by 25%
  2. eCommerce is growing at 16%, traditional is growing at 5%
  3. It’s time for ecommerce to offer an experience not just an efficient transaction
  4. It’s no longer about “e”commerce it’s just commerce, multi-channel commerce including (of course) mobile. We are now in the era of Agile Commerce – looking at how you optimise customer touch-points, not channels
  5. 50% of all brands and retailers will disappear because they aren’t adapting to the new technological changes
  6. Consumer choice and selection has exploded. In 1980 there were just six blue jean brands – now there’s over 800
  7. 40-70% of the sales process takes place before the first interaction with the merchant
  8. 79% of online shoppers spend at least 50% of their shopping time researching products

Reviews

  1. Visitors expect to see 3-7 reviews per product on product page
  2. Don’t use Javascript-based reviews systems, all content needs to be Google-friendly

Forms

  1. A five line sign-up form converts 45% more than one with nine lines
  2. Put a form on your thank you page after the customer orders with followup questions for birthdate and other customer segmentation information

Mobile

  1. Consumers use mobile 80% of the time when shopping for products
  2. 60% of consumers use mobile shopping and 54% of users are multiple device users
  3. Mobile and tablet account for 80% of traffic to Harvey Nichols

Customer Experience

  1. It’s important to measure the entire site experience, simply measuring page load alone, is too granular
  2. Attach business metrics to your load times. A five second improvement in load time results in a 200% improvement in visitor retention at Walmart

Content Marketing

  1. Use content not coupons to attract customers
  2. Some of the most simple, elementary blog articles can be the highest traffic, highest converting articles
  3. Cart abandonment email series created $31,000 in revenue in one month for one Magento merchant
  4. 67% of B2C and 41% of B2B companies have acquired a customer through Facebook
  5. 57% of businesses have acquired a customer through their blog

Big data

  1. It’s not about big data it’s about big answers! It’s great to have a lot of data, but if you don’t know what questions that data answers, the data isn’t as valuable
  2. If you want to change your business, the best way is to learn how to ask questions well. Then use the data to answer those questions!
  3. One bad experience can undo millions of dollars’ worth of branding. Make sound decisions using data instead of gut intuition
  4. Big data should empower creativity, not stand in its way!

Magento and Imagine

  1. Magento powered $26 billion in transactions in 2013 and is still growing!
  2. Ben Marks appointed as the new Magento developer evangelist
  3. No one looks like their Twitter profile picture
  4. Do not gamble when drunk…
  5. Or get a tattoo for that matter – I did actually spot someone with a Magento tattoo – let’s hope they don’t change the logo anytime soon
  6. Angry Birds is now a Magento Enterprise customer
  7. A ladder can also be used as a musical instrument

What’s next for Magento?

  1. Virtual reality will be the final frontier for ecommerce
  2. Magento 2 Beta December 2014 Live for production April May 2015
  3. Imagine 2015 will be on April 20-22 at the Wynn in Las Vegas

We are bound to have missed a few so let us know your thoughts and takeaways from Imagine below.

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