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How to improve your customer retention strategy with email marketing

Marketing

How to improve your customer retention strategy with email marketing
You’ve probably heard that acquiring new customers costs more than keeping them. Most studies show acquisition marketing is six to seven times more expensive. Fishing for new blood certainly is part of the ecommerce merchant’s toolbox, but devoting energy to customer retention marketing is much more advantageous. Email marketing is the best vehicle for doing it. We’re looking at why that is, along with five tips to get the most out of it. But first, let’s dive deeper into why ecommerce merchants should invest more in retention marketing. What is retention marketing and why is it so important? The goal of retention marketing is to turn customers into repeat buyers. Such marketing campaigns and initiatives aim to drive higher engagement so that the brand is top of mind. Retention marketing is worthy of your resources for two particular reasons: You’re not wasting money on the hunt. You’ve already got the first-party data of current customers who — we assume — are happy with your brand. Repeat customers are more profitable than first-timers. One study shows merchants reap an average of $39 in profits for every repeat customer purchase. They lose $29 for every new customer, primarily because of the cost of customer acquisition (CAC) and higher product return rates. From a broader perspective, the more customers who repeatedly spend on your brand, the higher the net profit throughout your mutual relationship. This is called customer lifetime value (LTV). And the higher the LTV, the better you can justify the CAC. The optimum is a 3:1 ratio, where your LTV is triple that of the initial CAC. 5 tips for using email marketing to retain customers Full disclosure: we are an email marketing software company with considerable bias. That said, email marketing is the ultimate customer retention strategy besides excellent customer service. Leading retailers agree. They cited email as the top investment (87%) when polled on their 2022 resource allocation plans for retention marketing strategies, beating out loyalty programs and SMS. They’ve got good reason to trust in email marketing. It has an impressive return on investment: for every $1 spent on email marketing, the average return is $42. Of course, keeping customers around requires maintenance. Some of our tips apply to all types of email marketing, no matter the target. Others specifically cater to nurturing customer relationships. Email marketing tip #1: provide variety How often do you receive an email from a brand, and it’s a case of deja vu? Every promotion sounds the same. If you haven’t unsubscribed, then you’ve stopped opening them. Don’t be a brand that emulates this email marketing behavior. Provide a mix of valuable content that engages your customers and makes people excited to open your newsletters. There are times for sales promotions, announcing new releases, and addressing pain points. It’s nice to toss in a slice of your brand’s story every so often, too. And for meatier value, think educational and inspirational. Style guides, for instance, are perfect for apparel-related merchants but also handy in providing advice around arranging/displaying products. The key is curating content so the customer doesn’t have to think. Imagine you’re on the quest to spice up your space with a rug. But online searches make your head spin because interior design is not your strong suit. The example below from The Citizenry could be just the intervention needed. The email highlights pieces from its rug collection by showing how they could work in different rooms. It’s an excellent tactic for leading people toward imagining the possibilities for their own homes, versus a product shot without the surrounding context. It brings things to life. We also appreciate the section that takes viewers to a rug size guide, providing additional information and styling tips. Email marketing tip #2: make a footer that functions You may wonder why the last section of an email is pertinent to retaining customers. Seems like real estate of little significance, right? Wrong. Not everyone will scroll to the bottom. But others will, which makes it ideal for reiterating the vital stuff you want people to affiliate with your brand. A “footer that functions” serves as reinforcement for those who have already invested in you. The more they see the same block of messaging — we’re talking simple icons accompanied by short, descriptive words — the more you build trust and grow brand affinity. (It also can tip the scale for securing a first-time purchase.) Allbirds has a polished retention marketing strategy worth dissecting. All icons link to a landing page with more information. Here’s what we like about the footer: It calls out its “tread lighter” brand value loud and proud; any brand that stands for something — sustainability, a cruelty-free approach — should do the sameIt overrides common friction points of shipping and returns; bonus points for offering a free 30-day trial Infuse your footer with elements that communicate your brand’s value. Alleviate pain points, lean into your audience or niche, and drive home your unique selling proposition. Stick to three or four icons in total, as anything more is overwhelming. Contemplate adjustments for Black Friday and holiday marketing, honing in on common friction points during the Q4 season. For example, we see ecommerce merchants broadcasting a buy now, pay later option. Take the opportunity to feature complementary services such as customization or gift wrapping, or highlight a return policy to help reduce return rates. Email marketing tip #3: implement automation One of the most powerful aspects of email marketing is the ability to nurture subscribers and make them forget about the competition. An easy way to do it is with email automations. An email automation is a message (or series) triggered when a subscriber takes a particular action. Once you activate one, it quietly works in the background. Welcome and abandoned checkout email automations are the most widely known and used, but there’s an entire group of automations specifically targeted at retaining customers. Consider developing any or all of the following: New customer automation. Acknowledge your subscriber’s first purchase. Invite them to join your loyalty program. Provide a customer service point of contact to answer questions. You want to keep the momentum going. Post-purchase automation. We call this a “get ready” email. Unlike a transactional order confirmation message, post-purchase automations build excitement as the customer waits for the order to arrive. It’s ideal for sharing information, such as care tips or installation instructions. Repeat customer automation. It’s always a good idea to show gratitude to customers who buy from you more than once. That spells loyalty, so they deserve recognition. Tell them why their confidence in your brand matters. Lapsed purchaser automation. Connect with customers who haven’t purchased from your shop in a while. It could be 90 days or longer, depending on what you sell. This automation is especially impactful when you offer consumable products — like pet food or cosmetics. Use it as a reminder that it’s time to replenish. A lapsed purchaser email from Grubhub Pick which automations are suitable for your brand. Consider a multi-part series if it makes sense. Sprinkle in small promotions, such as a discount or free shipping, to entice an order. You might even use them to ask for a review. Email marketing tip #4: use segmentation Ecommerce merchants that personalize their marketing have a huge advantage in retaining customers. A survey cites that 71% of consumers expect brands to personalize their marketing. Not only that, but more are frustrated when it doesn’t happen. An even greater percentage will recommend brands that personalize marketing to their family and friends. Email segmentation is a terrific vehicle for sending relevant messages. It’s the practice of tailoring emails for a subset of subscribers. There are many options when creating customer segments, from purchase behavior to demographics. Typical means for grouping include: High-value customers who have passed a certain threshold of spendingCustomers who join your loyalty programWholesale customers Placing customers by residential locationMaking segments per product category purchased The example from Carved is a classic example of how to employ segmentation in your email marketing. The brand grants early access to VIPs for Black Friday sales. A custom code at the bottom reassures the customer that this invite isn’t for everyone. Carved’s email scrapes the surface of segmented email marketing. Consider giving perks to loyalty program members. Reach out to customers when you debut a complementary product or service to one they purchased. You could even identify those who bought during the holiday season and haven’t returned since, and follow up with a message six months later. Email marketing tip #5: survey your customers People like their voices to be heard. They want to know that their opinion matters, especially as a consumer. Surveying them equals empowerment. You could send a survey to your entire list, including subscribers who have never bought a thing. But customers have some skin in the game, as they use your products and have better insight into your brand than onlookers. The email message itself can be short, like Food52 does. Question them about the new products they’d like to see or services that interest them. The goal: understand how you might better meet needs before a competitor swoops in. The results are data points for improving your business. Answers may open your eyes to new solutions worth pursuing or turn your attention to flaws that need fixing. And if you make changes based on their input, let customers know how valuable they are in shaping your business. Use email marketing to show your value Resist viewing customer retention marketing as just another promotional tactic. Seeing it through such a narrow lens won’t reap the desired benefits. Instead, know that good retention marketing strategies give customers value well beyond their purchase. When you’re motivated to strengthen relationships with your customers — versus spew sales pitches — you’re empowering your business to flourish. So, we challenge all ecommerce merchants to examine their email marketing programs. How are you doing with our five tips? How well are you providing variety, harnessing your footer, using email automations, sending segmented emails, and surveying your customers?
Will TikTok Ads Be Worth It for E-Commerce Sellers in 2023?

Marketing

Will TikTok Ads Be Worth It for E-Commerce Sellers in 2023?
Love it or hate it, TikTok is taking the world by storm—not only for entertainment but also in terms of marketing. The fact of the matter is that if you own an e-commerce store and you want to keep up with the latest marketing trends, you are going to have to start using TikTok. In this article, not only will you get a good guide to using TikTok ads for your e-commerce store, but we will also be answering important questions you may have when it comes to TikTok as a marketing platform. Average Conversion Rates of TikTok Ads The average conversion rate for TikTok seems to be hovering around 3.4%—pretty good compared to other platforms. Only Facebook has a good lead, but TikTok has grown so fast and is creeping up to Facebook. The reason for this is the short time it takes to absorb TikTok content compared to other social media platforms. It is far easier for them to watch a quick video than read an advert. It's plain and simple: video content such as TikTok is the future, especially when it comes to conversion and click-through rates. Just remember that the conversion rates depend on the type of advert that has been run: Topview ads: as high as 16%Takeover ads: 7% - 10% In-Feed ads: 1.5% - 3% Cost of TikTok Ads TikTok advertising is quite expensive when compared to other social media platforms. TikTok ads start at $10 CPM, with Cost Per Click (CPC) at $1. This means that you will pay $10 for every 1,000 views. In addition, you must spend a minimum of $500 on each campaign. It's important to remember that the cost of TikTok ads also depends on the different types of adverts you decide to run. For example, a branded hashtag challenge could cost you up to $150,000 but will feature your e-commerce store on TikTok’s Discovery banner. Put simply, you probably shouldn't consider TikTok for an informal, small campaign. Average ROI (Return on Investment) on TikTok Ads Did you know that TikTok was featured in the 2020 Singular ROI Index among other top online marketing platforms? This incredible achievement is not something to overlook—especially considering that TikTok hasn't been around for a very long time. The returns that can be expected from TikTok ad investments range from one advert type to the next, and from one company to the next. It's important to remember that the ROI is greatly affected by the platform's ability to provide a global reach. Not only that, but you can also find clever ways to reduce your ad spend by using influencers, user-generated content, and repurposed content from other platforms. » Struggling with maximizing your return on ad spending? Learn what an acceptable ROAS is for e-commerce and read our guide to optimizing ROAS. The Verdict It's a fact: TikTok ads have delivered exceptional results for a variety of advertisers across multiple industries and will continue to do so in 2023. The bottom line is that if you know your target market aligns with TikTok's general audience, you'll be able to use the (relatively) affordable standard ad fees and low minimum spend for new advertisers to effectively build awareness of your brand. It's what you'll get in return that will make it worth your while. However, to make your ad spend count, you should start by experimenting with small ad campaigns. Once you have analyzed your data, statistics, and metrics, you can move on to bigger (more expensive) campaigns that are informed by earlier smaller analyses. TikTok ads are a worthwhile marketing investment, especially in terms of e-commerce. To substantiate that comment, let's look at some pertinent statistics: TikTok fits into a retail social commerce industry that is expected to grow to $80 billion in the US by 2025.TikTok's viral hashtag #TikTokMadeMeBuyIt has generated 11 billion views!In September 2021, TikTok had a billion monthly active users - that's right, one billion!In April 2020, TikTok ranked number one in overall and app store revenue. In Closing... When you look at the phenomenal growth of TikTok over the last few years, you can only imagine how much more the platform is expected to grow over the next few years. It is a bus you don't want to miss if you are serious about keeping up with the latest marketing trends. Pro Tip: It is worth your while taking the time to research and explore the different marketing opportunities offered by TikTok. You can also track your ad performance using BeProfit once you get started, and don't forget to read our ultimate guide to effective e-commerce adverts to help you along the way!
How to Optimize ROAS & Lower Break-Even Point: 7 Techniques for Dropshippers

Marketing

How to Optimize ROAS & Lower Break-Even Point: 7 Techniques for Dropshippers
Learning how to optimize Return on Ad Spend (ROAS) is crucial for any business owner. Understanding this metric allows e-commerce site owners and dropshippers to lower their break-even points, thereby generating higher profits from every marketing campaign. This is crucial at a time when digital ad spend is set to reach around $735 billion worldwide by 2026. Achieving a good e-commerce ROAS means knowing how to measure the effectiveness of each ad campaign and using what you learn in future strategies. The more you optimize ROAS, the less you’ll pay to acquire new customers as a store owner or dropshipper. So, how do you get the best returns from your ads? 1. Increase CTR on Your Landing Pages Getting someone to click on your ads is just the first step for any dropshipper. You also need to ensure your customers will engage with your content, and act when they reach your landing pages. Optimizing your landing pages can boost your chances of conversions and enhance the sales funnel. To increase click-through rate (CTR) on a landing page, dropshippers should: Focus on benefits: Highlight the benefits available to your customers as soon as they arrive on your landing page, reflecting the offers you included in your ad. Streamline the landing page: Remove any content that isn’t necessary and focus on guiding customers through the page with a combination of video, text, and imagery. Leverage social proof: Give customers evidence they should interact with your brand in the form of positive testimonials and reviews. 2. Compare Performance Across Channels Many dropshippers use a variety of different channels to attract and connect with clients, including email marketing, various social media platforms, and online content. However, not all of the channels you use will generate results. Comparing your ad performance across different channels and determining which strategies lead to the most conversions or acquisitions will ensure you’re using your budget as effectively as possible. Use analytical tools like Google Ads and social media insights to track where the majority of your customers are coming from. 3. Improve Your Targeting Customers want ads specifically tailored to their needs and expectations. If your targeting strategy isn’t effective, you’re wasting your ads on people who aren’t likely to convert. Getting to know your target audience better and adjusting your marketing campaigns to use the right language, images, and strategies will boost your ROAS and reduce your ad spend. Consider exploring the difference between remarketing vs retargeting to attract previous visitors to your website, so they have a second chance to purchase. 4. Maintain Consistent Messaging One of the most important things customers look for when deciding which dropshipping companies to buy from is credibility. Your audience wants to be able to trust your brand to deliver a consistent, meaningful experience. Ensuring consistent messaging across all channels can help to develop a greater level of trust and increase conversion rates. It also helps to reduce bounce rate from your landing pages. The points you make on any ads you produce should relate directly to the topics on your landing page, showing customers they’re in the right place. 5. Perform Keyword Audits Keywords are among the most valuable tools dropshipping and marketing companies use to connect with audiences. Keywords can be used across social media, search engines, and even guest posting campaigns. The keywords you choose can also have an impact on your ROAS. Bidding for certain keywords and terms across multiple channels can be costly. Knowing which terms actually connect with your target audience and which don’t deliver the right results means you can organize your budget accordingly. 6. Improve Your Ad Copy Ad copy is one of the most important factors that determine whether your customers will actually click on your ads and engage with your business. The right message needs to showcase your personality, highlight the benefits of your offer, and still adhere to search engine and Facebook advertising best practices. There are a number of ways to improve your ad copy, such as using AI in advertising to detect the common words and phrases your customers are most engaged by. It’s also worth A/B testing different messages to measure their emotional impact on your audience. 7. Capture Leads Wherever Possible Finally, there are a number of ways you can capture leads and engagement. If you’re only advertising on Facebook right now, you could be missing out on opportunities available from search engine marketing and email campaigns. Consider spreading your ad spend across multiple different channels and environments to see whether there are any new places where you might be able to capture new leads. Conclusion Producing effective e-commerce ads can take significant time and focus. However, measuring your ROAS break-even point can be a good way to determine whether you’re investing in the right strategies for your business. The more you optimize, the better your return on investment will be.
Learn to incorporate videos in your ecommerce marketing

Marketing

Learn to incorporate videos in your ecommerce marketing
The retail landscape of the 21st century has been slowly dominated by eCommerce. Over the last two decades, retail structures have shifted from physical stores to internet ones - mainly due to the accelerated advent of the World Wide Web and internet technology. In 2020, more than 2 billion goods and services were bought and sold online. Estimates suggest that this number will steadily increase over the next few years. By 2025, eCommerce sales will account for more than 25% of global sales. There has been a steady increase in the number of sites recently because of aggregators like DotPe and Shopify. Their proprietary technology allows even the smallest businesses to compete with multinational corporate giants. The Importance of Product Videos As you can understand, the world of eCommerce is cutthroat and intensely competitive. Preliminary estimates suggest that more than 20 million platforms are currently active on the internet. If you want people to choose your products and services, you must set yourself apart from the competition. Doing so is not easy, but skillfully made product videos can give you a much-needed edge over your competition. Recent market research has definitively proved that visual merchandising plays a big role in a customer’s decision to make an online purchase. So naturally, product videos play a major role in that particular aspect. What is a Product Video? A product video is an attractive video that shines a spotlight on the benefits of your product. The fundamental objective of a product video is to educate and inform viewers about the products you have on sale. Since your business is online, your customers should be able to explore your offerings without having to make a physical visit. The end goal is to humanize the experience. Research has shown that this leads to conversions and sales. Now, take a look at the different kinds of product videos that you can create. Types of Product Videos Here is a brief summary of the various kinds of product videos that you can create - #1 Background Video This is a popular video type where you explore the origins of the products/services that you are offering in your ecommerce business. This allows you to tell a story about the origins of your product and what inspired you to create it. Then, naturally, it lets you explain exactly why your customers need the product and how it will benefit them. #2 Testimonial and Review Video People are naturally wary of eCommerce platforms because they don’t want to get taken in by a scheme. A great way to establish trust and connect with your customers is to publish testimonials from faithful customers who have purchased and loved your products. Then, you can easily piece it together using a free video cutter from short snippets. #3 How-To Product Video If your product is unique, you should showcase its uniqueness by filming a how-to video. It is the best way to demonstrate exactly how the product will help its customers. It can also be used as an educational resource by your customers. This is a must, especially if your product is complex and requires guidance. Product Video Aspects to Keep in Mind While working on the eCommerce product video, you must keep some things in mind. These will help you to create something that has the maximum impact on your intended audience. Use subtitles/closed captions: Did you know that almost 70% of people watch videos without sound? Your video conversion rates will improve dramatically if you include subtitles and closed captions. It is also an inclusive move to include closed captions. A proper view of the product: The star of the product video has to be your product. Ensure that the center of attention is the product and that it is captured from all angles. Work with professionals so that you receive a high-quality video that makes your product look alluring. High-quality editing: You need to ensure that the video editing quality is outstanding. Bad cuts and sloppy editing can decrease a viewer’s interest in the video. You can use an online free video cutter to implement seamless cuts that elevate the overall user experience. Tangible Benefits of Using Video Marketing A well-produced video is a precious asset. It can do wonders for your brand and complement the marketing strategies already in place. Here is a rundown of the tangible benefits you’ll enjoy if you implement video marketing for your eCommerce site. #1 Videos Lead to Sales More than 80% of market research survey respondents revealed that they had chosen to buy a product after they watched a video about it. Watching the product being used allowed them to understand why they needed it. The objective is to provide the customer with a great experience, which will automatically lead to a sale. #2 Videos Help Build Trust This advantage is a no-brainer. Once a customer sees the product in action and explores testimonials from satisfied clients, they will begin to trust your brand. A well-made video can lubricate this process. If they’re happy with what they receive, they’ll soon return with another order. They will also tell their friends and family about you and provide you with some free publicity. #3 Videos Help in SEO Not much is known about the Google search engine algorithm, but it is clear that it loves videos. Therefore, if your brand website features relevant videos, then you are bound to rank higher on the search engine results. In addition, videos contain numerous backlinks, which are invaluable. You should also remember that sharing videos on social media is very easy. Some Final Words This article has been a comprehensive breakdown of all the reasons why you need to invest in a video marketing strategy for your eCommerce store. It will give you an advantage that will allow you to stand out among the intense competition. You will also be able to connect with your target demographic and build a lasting relationship with them.
Leveraging Personalization AI in Your E-Commerce Marketing Strategy

Marketing

Leveraging Personalization AI in Your E-Commerce Marketing Strategy
Personalization in marketing is very important for one good reason: research has proven that it works! One of the biggest differences between e-commerce and brick-and-mortar stores is that you don't get to engage with your clients face to face, and e-commerce removes that personal touch. The most effective strategy to address this challenge is personalization AI—the central link between digital marketing and e-commerce. Personalization AI includes valuable information about your clients, such as their demographic information, sales trends, browsing data, and sales data. Thanks to AI content marketing, you can now personalize your content on a large scale. What's more, you can do it yourself and don't need professional technical skills to get it right. Read on as we explain how this can be done. How to Leverage AI to Personalize Your E-Commerce Marketing Strategy AI information can be used in various ways when it comes to personalization. Here are five key use cases: 1. Recommend Products Effectively Personalized recommendations get generated using an algorithm that tracks browsing history. This is then compared to other customers' pre-sales behavior. For example, if a customer adds a gown to their shopping cart on an online clothing store, the recommendations may suggest pajamas or slippers. This is because the algorithms identify that a gown, slippers, and pajamas are often purchased in one sale. 2. Offer Personalized Content and Sales Incentives A simple example of this is sending customers a birthday card on their birthday with a discount voucher or buy-one-get-one-free offer. You could do this for anniversaries or even special celebratory days like Mother's Day. These incentives could also be seasonal, for instance, free sunscreen with every order in the month before summer. 3. Implement Geo-Location Targeting The old expression "location, location, location" is very relevant to an e-commerce business's marketing strategy. There's no sense in sending a customer a discount voucher for a webinar when that webinar will be presented in a language that is not common to their location. This strategy is called geo-location targeting and helps clients see you as a local company. 4. Send Personalized Emails Sending personalized emails is undoubtedly one of the top email marketing best practices. Personalized emails include general marketing emails—nudge emails for those who abandon their carts before making a purchase or list emails for those who keep items on their wish list for a set amount of time. Personalized communication can also take the form of thank-you emailers with extra product information on an item that has just been purchased or an e-commerce Black Friday email marketing strategy based on the customer's purchase history. The list is endless—you just need to be creative. 5. Implement a Live Chat Box on Your Site Add a picture of the person your client is "chatting" to, and they will feel right at home on your website. Before you argue that paying someone to run the chat box is expensive, think about the pros: your website bounce rate will decrease, your customer loyalty will improve, the average size of your customer order will increase, and your return rates will decrease. Why? Because your customers are getting what they are looking for. Benefits of AI for E-Commerce Marketing Strategies You may be wondering exactly what the advantages of AI are in advertising and marketing. Employing AI in your e-commerce marketing strategy will: Boost sales As previously mentioned, ongoing research has proven that personalization AI boosts sales. In fact, it can be argued that without personalization AI, your store will not keep up with its competitors.Increase return on investment When your sales are boosted, it goes without saying that your return on investments will increase in the same way. Say no more!Bridge the gap between you and your customers Personalization is the link between an online store and its customers. It is a gap that must be bridged, and personalization can do that—albeit not in the same way as a brick-and-mortar store. Different but the same!Build customer loyalty When your clients see that you are offering a personalized service that works, you will build customer loyalty. Build long-lasting relationships with your customers This is very similar to customer loyalty, except that it defines the timeline as long term. Increase customer retention Again, research has proven that you spend less money on maintaining your customers compared to new customer acquisition costs in e-commerce. So if you want to retain clients, personalization AI is your ticket! Beat the Competition With Personalization AI There are many more strategies that you could explore with personalization AI and various other benefits that have not been covered in this blog. Look at what your competitors are doing, and then make sure you are one step ahead. You'll soon be an e-commerce influencer with your marketing strategy—and a successful one at that.
6 Steps to Build a Successful Hybrid Ecommerce Marketing Campaign

Marketing

6 Steps to Build a Successful Hybrid Ecommerce Marketing Campaign
Successful ecommerce businesses need a blend of short-term and long-term marketing to achieve sustainable growth. These two types of marketing previously operated in parallel to each other. But in the past year, three factors have affected the old marketing belief: An increasing realisation within the ecommerce industry of the importance of brandThe rising costs of paid advertisingThe convergence of performance and brand created by mobile The result is a new approach that gives the best of both worlds: hybrid marketing. What is a hybrid marketing campaign? Hybrid marketing is when short-term and long-term marketing techniques are deployed together in a single campaign. This combines their benefits while also offsetting their deficiencies. Painting with broad strokes for a moment, we could say that short-term marketing — such as paid advertising — is: Demand-drivenFastHighly targetedMeasurable with hard data But it’s also: ExpensiveTransactional — all about the saleShort-lived Long-term marketing — like brand-building — is: Self-sustainingMeaningful and purpose-drivenMore potentRelatively inexpensive But it’s also: SlowTime-consumingHarder to quantify Why not take the best bits of both to create marketing campaigns that are highly targeted and data-driven but deliver branded messages? Here are six steps to create a successful hybrid ecommerce marketing campaign for your business. 1. Optimise your performance marketing Let’s start by getting the method of delivery into shape. Budget currently wasted on speculative or under-cooked ad campaigns could be better spent elsewhere as part of a hybrid marketing campaign. Tighten up your performance marketing by: Carrying out A/B tests on landing pages, copy, colours, and calls to actionEnsuring your keywords are closely matched to your ad, and your ad is closely matched to its landing pageChecking for low-performing keywords and adding them to your negative keywords list so you know not to use these againUsing less than 20 keywords per ad groupScouring Google Analytics to see the best days, times, locations, and devices for conversions, then targeting thoseIncorporating user-generated content within your paid mediaTesting various bidding strategies to see which delivers the best resultsPaying for your ads using a Juni card to get ROAS-boosting cashback 2. Invest in building your brand Put any budget you’ve gained to good use by optimising your performance marketing. Channel it into long-term marketing strategies, like building your brand. You need to create a connection with customers that goes beyond a simple transaction. Develop relationships that will endure, even if your paid media campaigns have stopped. Invest time, effort, and budget in making your customers feel part of something bigger. Build your brand by establishing: Your brand values and brand storyWhat makes your brand different from your competitorsPotential brand advocates and what will motivate them to support you How you will create a community around your brand based on a common purposeThe habits that will keep customers thinking about your brand every dayWhat success looks like and how you will measure it 3. Apply performance marketing techniques to your brand Your paid media is fine-tuned, and you have a clear idea about your approach to branding. Now bring them together to create a hybrid marketing campaign. That's what clothing brand tentree did. They tested whether mobile optimised brand ads with strong creative visuals could build brand awareness and increase sales. The result was a 1.39x increase in purchases, a 30% increase in brand awareness, and a 47% increase in standard ad recall. To bring this approach to your ads: Instil your campaign with your brand values and tone of voice Everything about this campaign needs to be authentically you. Whether it’s written copy or a video voiceover, the ad needs to sound like your brand. “Run the day. Don’t let it run you.” Sounds familiar doesn’t it? Many would recognize it’s Nike speaking with zero context. This Hubspot article gives more examples and pointers on developing your brand voice. Establish a clear visual identity in your campaign In a Facebook experiment on building brand in performance campaigns, 57% of brands created brand awareness uplifts not just for themselves, but for their competitors too. This was because their campaigns lacked distinctive and recognisable visual identities. Tie your values to something tangible and visible to help consumers to differentiate your brand from others. Facebook recommends leading with strong visual branding within the first three seconds. Target a broader audience than usual With a hybrid campaign, it’s not all about the immediate sale. That means you can afford to lower your cost per click by targeting a broader audience than you might normally consider for PPC campaigns. Commerce-led brand agency Northern suggests that this approach can further increase brand reach (and deliver more precise measurement) by targeting only those who have not previously been exposed to the brand. Guide your customers to take action Ensure your target audience takes the action you want them to take after viewing your hybrid campaign by incorporating a direct response element. This could be signing up for, downloading, or buying something — whatever makes the most sense in the context of your campaign. Nik Sharma, direct-to-consumer ecommerce expert and founder of landing page builder Hoox, recommends varying your approach by order value. He suggests orders under $150 can be converted directly from a hybrid marketing campaign, whereas a sign-up or download is more suitable for higher ticket items. 4. Measure your hybrid marketing KPIs When taking a hybrid approach to ecommerce marketing, you also need to take a hybrid approach to measuring it. That means combining the hard data generated by short-term marketing and soft data available for long-term marketing to see how your campaign is performing. To measure soft data, your KPIs might be: Brand awarenessBrand affinityNet promoter score (NPS)Share of voice (SOV) Hard data KPIs include: Click-through rate (CTR)Customer acquisition costs (CAC)Lifetime value of customers (LVC)Share of the market (SOM) Bring all of your KPIs into a single spreadsheet to determine the performance of your hybrid marketing campaign. You’ll find a downloadable template in this hybrid marketing white paper. 5. Keep testing The insights you gain from measuring your KPIs will help you to return to a process of A/B testing. How would adjusting your creative, copy, keywords, targeting, or landing page give your campaign even more impact next time? Optimise to get better results over time. 6. Add more value This is the stage to capitalise on your efforts by reinforcing your brand to potential customers. Asked what attracts them to buy from certain brands over others (beyond price and quality), 66% of consumers said they preferred brands with a great culture — those that do what they say they will do and deliver on their promises. Show that the brand values showcased in your campaign are genuine. Develop the initial connection you made with your audience by creating follow-up campaigns that are true to those values. Achieve this by: Using retargeting ads to cost-effectively reach people who engaged with your hybrid campaignPopping up with useful content or desirable products that are closely aligned with your brand values​​Reaching the right person with the right product at the right time Start your first hybrid marketing campaign today Explore whether a hybrid campaign would deliver better results for your ecommerce business. Get started immediately on combining performance and brand by: Putting an end to wasted PPC spend by making your ads more effective and more efficientConsidering the story and values that will set your brand apartThinking about what a successful hybrid marketing campaign would achieve and how you will measure this To make your hybrid marketing spend stretch even further, get 2% cashback on eligible ad spend for your first 30 days, and up to 1% thereafter when you get Juni.
A Marketer’s Guide to CPM Across Social Media

Marketing

A Marketer’s Guide to CPM Across Social Media
Cost per thousand (CPM) has evolved to be called cost per mille ("mille" is the Latin word for "thousands"). Marketers use this term to denote the price of 1,000 advert impressions on a single web page. When a website publisher charges $5 CPM, it means the advertiser must pay $5 for every 1,000 advert impressions. It's important to stay abreast of the average CPM for all your major platforms because it determines the cost-effectiveness of your advertising campaigns. You can compare the effectiveness of the platforms you're using and the effectiveness of old versus new campaigns. How to Calculate CPM To measure CPM, you need to divide the total cost of the campaign by the number of impressions. You then multiply that amount by 1,000 to get the CPM rate. Here is the formula: CPM rate = total campaign cost / number of impressions x 1,000 Let's look at an example: Your ad campaign costs $200. Your total number of impressions is 3,000. Your calculation would look like this: CPM rate = $200 / 3,000 impressions x 1,000 = 0.066666666 x 1,000 = 66.666666 ~ 67 = $67 Average CPM for Facebook, Google Ads, Instagram, and TikTok The average costs for these different platforms are ranked below from the cheapest to most expensive: Google Ads Advertising on Google's Display Network ranges between $0.50 and $4 CPM, with an average of $3.12. This is very inexpensive when viewed within the CPM lens. If your aim is to build awareness of your products, Google Ads is a cost-effective option and provides a conversion tracking function to help you determine the success of your campaign. But if you're looking for more targeted campaigns, Google Ads may not be your best solution. Instagram The average CPM for Instagram ranged between $2.50 and $3.50 for better-performing campaigns in 2021. The cost of Instagram advertising is determined by supply and demand because Instagram ads are sold in an auction environment. In general, Instagram performs better for campaigns focused on impressions and reach, and it appeals more to the younger generations. TikTok The average CPM for TikTok Ads is currently sitting at the $10 mark. TikTok is the new kid on the block—and is showing up the rest quite well, considering its higher cost. Just remember to do your research and follow the guide to TikTok advertising. You can also consider adding your WooCommerce website to TikTok. Tip: It's important to make sure your target market uses TikTok and Instagram before spending money to advertise on these platforms. They appeal more to the Millennials and Generation Xs. Facebook The average CPM on Facebook across all industries is $14.40. This has increased from $11.54 in 2021. Facebook clearly takes the lead with CPM, because of all the social media platforms, Facebook appeals to the widest age range—which probably contributes to its high cost. You can consider using tools such as Facebook's campaign budget optimization to assist with high advertising costs, but ultimately, Facebook advertising like an e-commerce pro promises to get the widest reach. How Marketers Leverage CPM CPM is best suited to digital marketing campaigns that want to build awareness of a brand, product, or service. It's not suited to smaller, niche businesses that are trying to catch the attention of a small subset of the population. It also doesn't measure up if you need quantifiable results to back up your marketing dollar spend. If you want to create a strong foundation for a CPM strategy, you must know and fully understand: Your definition of a leadYour overall business goals (and how CPM will measure them)Your new strategy's goals The most important thing to remember when it comes to CPM campaigns is that they must be run in tandem with other forms of marketing, such as using AI in advertising. They won't be as effective if they run in isolation. Who Should Consider CPM Campaigns? CPM campaigns are perfect for any business that's looking to improve its credibility by building brand awareness. If you own an e-commerce store, you first need to establish yourself within your target market before your audience will start to take you more seriously. This means that your customers need to be familiar with your brand already when you start your first CPM campaign. A Final Thought... CPM campaigns are inexpensive and can be highly effective if you use clever, well-written copy and striking high-resolution pictures. Also, watch your frequency: if you post too often, you could irritate the target market you're trying to reach. Your strategy must be planned carefully and skillfully for optimum results.
Learn eCommerce with Digital Experts

Marketing

Learn eCommerce with Digital Experts
As eCommerce continues to grow, user penetration of the market is expected to reach 82% by 2024. This industry has proven to be able to withstand economics and geopolitical storms, which is why many want to be part of this fast-growing sector. It may be your dream to become a successful eCommerce seller, but how do you get there? eCommerce training can be an ideal solution for anyone who is starting an online store or wishing to enhance the customer experience on their platform. Courses on eCommerce can provide information about the basics and new advances straight from people who have experienced it all and came out on top. The Launching Method Introducing the Launching Method, called "Shitat Hahashakot" in Hebrew, is an online course from the Israeli marketing agency EZ Social. Their experience in dropshipping and sales led them to develop an online course that has become extremely popular. As part of the course, students learn everything from scratch, including: Setting up a store on Shopify Identifying winning productsEstablishing a financially viable website, one that generates sales with large carts, repeat customers, and a year-round varietyAdvertising on Facebook, Instagram, and Google Working with influencersCustomer service basics About the Instructors As they began their careers when they were only 18, Ziv Habob and Elon Allouche both have a great deal of experience in digital marketing. After pursuing their own distinct paths in the world of digital marketing, they founded their agency together in 2015. Businesses of all sizes are advised by EZ Social on how to generate digital sales. The agency offers consulting services in the field of digital marketing, digital stores, dropshipping stores, and creative marketing strategies for businesses and entrepreneurs. By developing a successful; marketing strategy, they help business owners and entrepreneurs sell more, at a higher price, and to a greater audience. For now, the course is taught in Hebrew only. Check it out here.
5 Strategies to Reduce Your eCommerce Return Rates

Marketing

5 Strategies to Reduce Your eCommerce Return Rates
A strategic approach to reducing returns is crucial to eCommerce success. The average return rate for eCommerce has doubled in the last few years, bringing it up to 20.8%, and many eCommerce merchants are left scratching their heads about how to cope with this new situation. Consider how you can simplify the return process and learn from it to prevent returns before they happen. What is a Return Rate? Return rate refers to the frequency that your customers return products at your eCommerce store. Return rates are represented as a percentage of the total number of products sold within a specified timeframe. To calculate your product return rate, divide the number of returned items by the total number of items sold and multiply by 100. For example, if you sell 10,000 products in a year, and 2,000 of them were returned, your eCommerce return rate would be 20%. Why Reducing Your Return Rate is Important A high return rate can have a big impact on your profit margins, and can often signal the end of customer relationships. While it’s inevitable that every company (no matter the size) will have to deal with a certain amount of returns, there’s a lot you can do to optimize your customer experience to reduce the chance of customers wanting to send products back. 5 Ways to Reduce Your Returns If your eCommerce business doesn’t already have an effective strategy in place for handling returns, now’s the time to take action. Here are a few hand-picked strategies you can use to reduce your return rates. Optimize Your Product Descriptions The best way to make sure that your products meet your customers’ expectations is to provide them with as much detail as possible. Customers can’t touch or feel online products, so your product descriptions matter. Make sure your customers know exactly what they’re ordering.Make sure each product has a clear headline, a paragraph with details of what makes the product unique, a bulleted list of product specifications and features, and user-generated content like reviews and images.Include high-quality product photos from different angles, and consider incorporating product videos for an even more detailed look at the products. Provide detailed sizing charts with all the measurements your customers need to know or offer a sizing guide based on the sizes they wear in other brands.The more information your customers have before they make a purchase, the less likely they are to return their order.Create a Clearly-Defined Return Policy Your return policy is a key tool for reducing returns by clearly setting expectations.Over 60% of customers check return policies before buying. A well-crafted return policy can act as a prevention barrier for product returns as well as boost sales and reduce cart abandonment.Give your customers the confidence to buy from you, knowing exactly what the terms are for returning an item, and how they would go about doing so.Ensure your returns policy is clearly displayed on your website and is written in an easy-to-read format using bolding, subheadings, and bullet points.Automate Your Returns Process Customers want to support businesses that make their lives easier. When your customers have confidence in your returns process, they won’t hesitate to purchase from you again. 92% of customers say they will buy again if the returns process is easy.Use a post-purchase returns solution like ReturnGO to automate your returns process and simplify things both for your customers and for your team.Provide customers with an online return portal where they can return items without having to deal with back-and-forth emails or wait for someone to get back to them. Set up your return portal to automatically follow your return policy, and give your customers a convenient self-service returns experience.The ideal return process is hassle-free for your customers and cost-effective for your business. Having a good system in place for handling eCommerce returns differentiates your brand, creates a competitive advantage, makes you more profitable, and reduces your return rate. Analyze Your Customers’ Return Patterns Just like you can track which products sell most, you can also track which products are most frequently returned and why. Part of using a returns management system includes having access to insights into your customers’ return patterns, which can help you take data-driven actions to reduce your return rate. Track common return reasons and how your customers like to handle returns. Products that are frequently returned may be defective, packaged poorly, or have an unclear product description. Identifying problematic products and correcting the issues can help you avoid potential future returns for those products.Encourage Exchanges Over Refunds Your return and exchange policy should make the returns process seamless and hassle-free, and give customers a clear incentive to choose an exchange over a refund. A hassle-free exchange process helps keep your customers happy by giving them what they need. Prioritizing exchanges over other types of returns can save your eCommerce store a lot of time and money.More than half of Shopify returns are due to customers ordering the wrong size or style. Giving customers the option to exchange their order for a more suitable product leaves them with an excellent customer experience and increases the chance they’ll buy from your store again.Incentivize customers to request an exchange instead of a refund by offering coupons, discounts, or free shipping specifically on exchanges.Exchanges enhance the customer return experience, increasing customer loyalty and retaining revenue that would be lost with a refund. Prioritizing Reducing the Rate of Your Returns Making sure customers have all the information they need will help provide your customers with a clearer picture of your products and ensure that a higher percentage of them are satisfied with their purchases. Streamlining the return process will help to leave your customers satisfied and provide you with information on how to serve them most effectively. Reducing the number of returns is in everyone’s best interest. Having fewer returns saves you money and creates a better customer experience. Start small - pick one strategy and take the first step towards reducing your return rates.