Krishan Kumar’s Post

This is an important acquisition strategy that gets ignored by eCommerce brands. It’s even more important in the Baby + Kids products and services category where word of mouth plays a huge role in the buyer journey. 92% of consumers trust recommendations from friends and family more than any other form of advertising. Yet, the global average referral rate for eCommerce is only 2.35%. That means only 1 in 50 sales are from a trackable referral. Investing time into increasing this KPI is something your brand needs to do.  Here are a few ways you can move the needle in the right direction: → Incentivize referrals + make it easy to do → Improve the customer experience (surprise & delight them)  → Build a sense of community (this doesn't end after the transaction) → Drive awareness across channels (email, sms, social, etc.) for engagement Customers are willing to do your marketing for you. You just need to give them a reason to. ♻️ Repost if you found this helpful or give me a follow at Jason Hui

𝐀𝐜𝐡𝐢𝐞𝐯𝐢𝐧𝐠 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐅𝐢𝐭 𝐜𝐚𝐧 𝐟𝐞𝐞𝐥 𝐥𝐢𝐤𝐞 𝐚 𝐩𝐨𝐥𝐢𝐭𝐢𝐜𝐚𝐥 𝐠𝐚𝐦𝐞, 𝐞𝐬𝐩𝐞𝐜𝐢𝐚𝐥𝐥𝐲 𝐢𝐧 𝐭𝐡𝐞 𝐃2𝐂 𝐛𝐫𝐚𝐧𝐝𝐬. 👩💼 (𝐓𝐡𝐞 𝐨𝐧𝐞 𝐰𝐢𝐭𝐡 𝐦𝐨𝐬𝐭 𝐯𝐨𝐭𝐞/𝐬𝐚𝐥𝐞𝐬 𝐰𝐢𝐧𝐬) - Let's consider two products, Product A🔴 and Product B 💚 . 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐀🔴is 𝐢𝐧𝐞𝐱𝐩𝐞𝐧𝐬𝐢𝐯𝐞, but its quality is below average or average. It may also involve adulteration and make exaggerated claims. On the other hand, 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐁💚 is 𝐞𝐱𝐩𝐞𝐧𝐬𝐢𝐯𝐞 but offers exceptional quality. (Luxury Products) When customers are seeking instant gratification from a purchase, they are more likely to buy Product A🔴 due to its low price. This leads to high conversion rates. Platforms like Amazon, Meta (formerly Facebook), and Google use algorithms that prioritize best-selling products, so Product A🔴 ends up at the top. However, this situation can pose challenges for premium brands that cater to specific audiences. Regardless of how much these brands invest in performance marketing, the platforms prioritize products that sell quickly. As a result, Product B💚 faces difficulties in gaining visibility and may need to invest more in marketing efforts. 🔎 It's important to note that just because a product is labeled as "best-selling" doesn't necessarily mean it's the best product available. It simply indicates that many people are purchasing it. Educated customers often see through the marketing gimmick of "best-selling" and make informed choices. Therefore, if you are building a premium brand, you cannot rely solely on the high return on ad spend (Roas) that performance marketing promises. However, it is possible to create a strong premium brand through effective storytelling and emphasizing the quality of your products.🔎 . . . . . #d2c #directtoconsumer #d2cbrands #d2cmarketing #d2cindia #d2cinsider #dtc #dtcbrands #dtcmarketing #dtc #performancemarketing #performancemax

Read the playbook 📖 on how to create an impactful DTC marketing strategy designed to help you 📈 #ecommerce #DTC #marketing

Amazon is giving us more insight to turn into actions Evaluating your listings day and night to find the relevant data to level up your listing is really painful, costly, and even time-consuming, but at the same time is crucial for brand development. Now, on the Build Your Brand page, you can find these new metrics. 🔍 Branded Search Ratio: gives insights on how strong your presence is ⭐ Star Rating: helps understand how to motivate potential new-to-brand customers 📦 Brand Conversion Rate: guides on where the efforts should be focused in relation to the brand approach 🔄 Repeat Customer Ratio: promotes brands to connect and enhance their brand-to-customer relationship. These metrics, in combination with the recommendations offered on this page, allow you to take proactive actions in order to choose the right program that will help reach the brand objectives with features like A/B testing, A+ content, and keyword optimization based on brand analytics. Whether boosting brand awareness or enhancing customer loyalty, these insights guide you toward meaningful outcomes. Like understanding the effectiveness of your brand in driving search traffic and capturing customer interest or measuring the success of your brand messaging and offers in converting potential shoppers into loyal buyers. Will you use these metrics, or would you like a guide on leveraging action with them? 

Successful promotions efficiently link three things: 1️⃣ Brand objective  → What is the behavior change you're trying to drive? 2️⃣ Consumer objective  → What will motivate the consumer to make that behavior change? 3️⃣ Promotional mechanism  → How can you efficiently link those objectives together? This is where great customer incentives start. Without this, you're likely to juice revenue without any contribution to profitability. Along the way, you'll introduce a bunch of 2nd-order consequences: conditioning consumers to expect deals, tarnishing the brand, and decreasing the perceived quality of the purchased items. But with clear objectives & mechanisms in mind, you're much more likely to nudge customers towards profitable long-term behavior. From there, it's about audience & channel selection, then launching (and learning). This requires good tech that can incentivize specific actions (both buying behavior and non-transactional, like sharing data or engaging with content), and connect to any data source and engagement channel. That's what we provide at Talon.One. But even with great technology, you need a clear strategic view of what you're trying to achieve. Always happy to think through this with brands and share what we see innovative brands doing. Anything you'd add to this graphic? ----- Citation: based on a framework from Boston Consulting Group (BCG) in the article "Smarter Retailer Promotions for a Saturated Market" from August 2023.

Ever wondered what the buzz is about when we say 'subscription model'? Let's break it down: it's a business model where customers enjoy a recurring stream of value, paying regularly for access to products or services. Think Netflix for entertainment or Bubble Skincare for a personalized beauty regimen. Now, let's flip the lens and see why customers love it: ✅ Convenience: Say goodbye to one-time purchases. Subscriptions make life easier. 💵 Savings: Enjoy regular discounts with subscription pricing. Who doesn't love a good deal? 🤝 Personalized Experience: Dive into an engaging, tailor-made journey with products that suit you. For eCommerce brands, this model is a game-changer! Questions? Let us know down below or shoot us a DM! #seo #monthlyrecurringrevenue #inventorymanagement #wapitidigital #wapitiecommerce #sellmoreonline #servetheherd #wapitiwednesday #recurringrevenue #ecommerce #productmanagement #searchoptimization #subscriptionecommerce

1. The evolving landscape of #ecommerce: What insights can we draw from Jon's predictions of e-com and the potential for non-creators to break into the #market successfully? 2. Navigating challenges in #product #development: How does Jon's five-step plan address the challenges of product differentiation, feedback collection, and local manufacturing in a fast-paced e-commerce environment? 3. Leveraging #customer #audiences and co-marketing: What can businesses learn from Jon's emphasis on leveraging public audiences and building #email lists around specific lifestyles for co-marketing efforts? 4. The significance of agility and #strategic #planning: How important is it for e-commerce businesses to adopt an agile approach to product cycles and operations, as well as to strategize for limited monthly launches to gain a competitive edge? These points when discussed and extrapolated can provide valuable insights into the future of eCommerce and serve as a launchpad for further discussions and innovations in the industry.

Sales vs. Brand Awareness: An Opinion In the world of e-commerce, performance marketing is the only objective that matters, unless you're a company like McDonald's or Amazon. As an e-commerce brand, it's time to stop focusing on brand awareness campaigns and shift your attention to performance marketing. While brand awareness campaigns may have worked in the past, the current market demands a different approach. Performance marketing, with its focus on driving measurable results, is the key to success for e-commerce brands. By using data-driven strategies, companies can optimise their campaigns to achieve their desired outcomes, whether that's sales, lead generation, or something else entirely. So, if you're an e-commerce brand looking to make an impact, it's time to rethink your approach. Instead of pouring resources into brand awareness campaigns, prioritise performance marketing and watch your business grow.

Elevate your marketing game with hyper-personalisation! Learn how tech-driven strategies are revolutionizing the retail sector. Read more #ETInsights #Personalisation #RetailInnovation #TechTrends #Sectors #Marketing Dr. Gaurav Nagpal