What happens in Vegas… doesn’t stay in Vegas!
Magento Imagine 2017 kicked off with a great Partner Summit, where Magento executives acknowledged M2’s rocky start, thanked everyone for their patience, and pledged increased support to address open bugs. Then things got exciting.
The community appears to agree the platform was “ready for primetime” with the release of 2.1.3 on December 16, 2016. Add recent feature additions and acquisitions, the growth of Enterprise Cloud Edition (ECE), and merchants are now seeing the power of M2 live. Imagine was filled with the positive energy that comes from having fought a tough, worthwhile fight.
Big Ticket Takeaways
Magento and merchants are “all-in” on ECE. We expect most new implementations will be ECE.
Magento Social is a nice acquisition that moves Magento into social commerce, a space where they’d been lacking.
Magento Shipping, powered by Temando, launches this summer. This adds shipping flexibility OOTB, and with over 86% of cart abandonment being tied to shipping cost and convenience, this is a huge platform upgrade.
The B2B module comes out this summer, and it’s packed full of goodies. Now we can stop charging merchants to customize these features, as they will all be OOTB.
Send cart abandonment ASAP, within an hour, then within 48 hours, as impact drops off dramatically after that time frame.
By Q3 ’17, Magento 2.2 should be launched, and most known remaining bugs fixed.
Buzzwords & Insights
Mark Lavelle talking about entering “deviceless mode,” where voice is at the forefront of commerce. By 2019, Gartner predicts 30% of searches will originate outside the screen and predominantly with voice. Merchants need to start thinking about their “headless commerce layer.”
Ahman Bhalla of Cannon Australia on changing their mindset from selling what they make, to providing solutions their customers need (e.g. third-party tripods).
Juan Benitez of Braintree talking about the rise of “contextual commerce” in reference to their partnership with FB Messenger where PayPal is now a payment method.
Jessica Herrin, CEO of Stella & Dot, delivered the speech of the conference in her keynote, talking about cultivating productivity by leaving the right things undone, and asking what everyone of us was doing to cultivate innovation. One keeper from the speech, “We need to be the company that puts the former us out of business.”
Kate Morris, CEO Adore Beauty, on Conversion Rate Optimization (CRO). There were greats stats here, so providing lots of detail:
For every dollar spent on acquisition, only $.01 spent on CRO. This makes very little sense.
Adore Beauty spent $40k testing OOTB checkout to a one page variant, and saw no improvement. They learned it’s hard to get big impact because so few visitors make it to checkout, and those at this stage are already very committed.
AfterPay on PDP improved conversion 2.88% and basket size 15%. Side note – If you want to allow lay away, like AfterPay, that market is heating up. Several competitors were at Imagine, including Affirm, SplitIt, and Bread.
Free shipping got them 17% increase in conversion, but 20% reduction in basket size. This was a net win for Adore, but might not be for you.
Section.io, a content delivery grid, improved page speed 2-2.5 seconds which increased conversion in checkout by 16.5%.
Stewart McGrath, Section.io CEO, talking about getting SSL on every page for security purposes and speed, as that will open up HTTP/2, which gives you 5-20% increase in performance.
“Devs that think they need root access have a god complex!”
Yotpo is not “just” Ratings and Reviews, it’s User Generated Content Marketing, damn it! We’re seeing convergence in the UGC space, with the traditional Ratings and Reviews providers bumping up against the UGC platforms (Curalate, Olapic, Pixlee) from a feature set perspective.
A Community Edition merchant managing 100,000 store views in a single Magento admin is now planning a move to M2 Enterprise Edition. Yes, 100,000!!
“Nexcess is a good hosting service, but we don’t let them handle patches, as that conflicts with our deployment process.”
This event rocked, we’re “all-in” on Magento, and we think most ecommerce merchants should be too!
Managing Partner - mediaspa