Agency Focus: Moneyspyder

Established in 2006, Moneyspyder was founded by James Aston, Mike Baxter and Marc Winn, driven by a passion to use existing customer data to increase your online ROI.

What does Moneyspyder do?
Moneyspyder consults on and builds state-of-the-art ecommerce solutions, which continuously improve the customer experience by using web analytics, split-testing and regular site enhancements.

Who do you do it for?
Moneyspyder work with new concept organisations in their 1st year of operation through to those with a £40m turn over. But all are united in a passion to understand how to get more from their existing online ecommerce platforms.

Being accredited for Google’s Analytics and Adwords products has meant an increased interest in Moneyspyder and our effectiveness in delivering these 'change today' ROI drivers,

Following work with Moneyspyder’s work turnover at www.coxandcox.co.uk, has increased by over 15% month on month.

The avg cost & time frame per project/or per month
Our consultancy day rates start at £850/day, with an initial ½ day review suggested for all client engagements. Moneyspyder’s site builds range from £8k - £30k depending upon complexity, site design and the number of third party interfaces required.

Once live and transacting, ongoing charges are either set at a required number of days per month or minimum fee (covering support and hosting) and a %age of monthly sales to incentivise both parties. We don't charge a license fee for our software – only our time.

What stands you apart from the rest of the industry?
Moneyspyder employs a unique opportunity profiling business model, focused on offering clients improvements to their e-commerce performance, and if additionally hosted on Moneyspyder’s e-commerce platform, required performance-enhancing changes can be made within minutes, hours or days. The changes are tested and the impacts known and demonstrable as bottom-line effects within 48 hours, direct from Google Analytics data.

Split testing is fundamental to successful client engagements, Moneyspyder has integrated Google Analytics and Website Optimiser into our service offering as core competencies.

Your clients past and present aside, which e-tailers do you think do it well? Who could we all learn from and why?
No great surprises here, but understanding why and mimicking is the key to your online success. With this in mind:

www.johnlewis.com
Great design should be experienced and not seen*, John Lewis are the best, to date, at making you feel that the shop assistant is at hand to help, in effect the site’s great usability design has made the site structure effectively invisible, allowing you to shop, transact, and leave as you would in store.

www.play.com
If you are offer led, lead on that offer in everything you do. Play’s very simple but very effective messaging, free delivery on everything, backed by cleverly targeted e-mail and on-screen offers, generate the powerful psychology of loss aversion (must buy it now!) at every interaction.

www.amazon.com
While the site structure is far from what today would be considered best practice, the site still demonstrates the benefit of 1st mover advantage and it is Amazon’s product depth, range and delivery promises that maintain it's market position.

Your top 10 tips for successful ecommerce
Successful ecommerce is nothing more than applying simple business common sense, but as it turns out, this is surprisingly hard to do. Don’t bite off more than you can chew and be sure to have the discipline to implement, review and re-factor some of these on a rolling monthly basis.

1. Know what Google thinks that your site is selling and agree a list of key terms, phrases and words that promote your business, which you have optimised across your Site, Adword and e-mail campaigns. Ensure that all of your key landing pages are relevant to what you are selling.

2. Don’t drive all of your search and offer traffic to your home page. Ask yourself what the customer is looking for when they arrive on your site.

3. Page Weight – optimise all key landing page elements, as Google (now responsible for over 85% of all UK based Internet searches) has less than 2 seconds to review, index and understand each page of what you are selling.

4. E-mail sign up – a customer’s e-mail address has a value which you need to recognise. Always incentivise e-mail sign up, IE. a 5% promo code off first order, confirming the act of sign up both on screen and via instant e-mail confirmation, re-enforcing trust.

5. On site search – ensure that miss-spellings and your monthly top searched terms, from Google Analytics, return a positive search result. Dead end searches, non-result or failed search pages lead to massive customer dissatisfaction. Hard-wire your top 3 best sellers to all search results to ensure that a positive result is always returned.

6. You can't change one thing on your site by 1000% but you can find 1000 things that you can change by 1%.*

7. Use automatic post purchase e-mails to cross sell your next hot offer.

8. Delivery Charge – always state what this is up front, via a permanent header image and link, stating what the free delivery threshold, to maximise average order values.

9. Remove registration* – a recent Forrester Research report showed that 23% of customers abandoned the last online store that asked them to register. How much money are you leaving on the table?

10. Implement a full and audited Google Analytics set up. If you can’t measure it, you can’t change it.

For case studies, click here…

Testimonials
Moneyspyder ecommerce Client enhancements –

Conversion – www.funmum.com
Site conversion %age seen to increase by 32% following its move the Moneyspyder ecommerce platform, revising the basket & check out flow.
“If we had not moved to Moneyspyder we may now be out of business, they have helped us maintain a conversion % in a declining market…”

Turn Over – www.coxandcox.co.uk
Month on month turn over seen to increase by over 15% once client login functionality removed.
“Since moving to Moneyspyder I have been able to enlarge my business, process more orders in a day, while cutting staff and fulfilment costs…”

AOV – www.beautifulpure.com
Following the implementation of automated on screen promotion proximity messaging (you are only £x from free delivery …) AOV seen to increase by over 20%.
“Moneyspyder are more than just a website provider to us. They are a marketing partner that work with us strategically to continually improve what we do. They share our aims, speak our language and most importantly deliver us great results.”

Do you have any white papers / articles you have written that could share with SLB2B readers?
See Moneyspyder’s article repository and out top ecommerce tips on our blog.
www.moneyspyder.co.uk/publications
blog.moneyspyder.co.uk

Special offer for SL B2B members
£150 off 1 days Google Analytics Consultancy, reduced day rate @ £700 / day

Contact Details
James Aston, Managing Director
james@moneyspyder.co.uk
www.moneyspyder.co.uk

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