Audrey Forget, Digital Content Marketing Specialist and manager at Valtech, and Jeffrey Talajic, Vice President of Sales and Marketing at Live Out There , were invited at the #36 Conference of MTL + ECOMMERCE, to talk about their expertise.
Audrey Forget and Jeffrey Talajic talked about their ecommerce experience in terms of digital content and customer strategies.
The importance of online content
Audrey Forget, digital content marketing specialist and manager at Valtech spoke to us about the importance of putting yourself out there (online) as a business. It’s all about creating brand associations and creating engaged communities. Why? Engaged communities represent high quality audiences. When you choose to associate your brand with an influencer, you get access to these types of audiences, these people, that are more prone to like you and want to be associated to your brand. Also, by having this online presence, your chances of being heard increase more than just having a walk-in store. This online exposure actually attracts customers by creating a new experience for them. It will bring more and more people into your store.
There are different ways of gaining online exposure, through blogs and many other different platforms where you can share ideas and information with consumers and attract new potential customers. Pinterest is one of Forget’s favorite means of social media. It doesn’t allow you to sell a product or a service per say, but it doesn’t need to! “The images are so powerful, so beautiful – all you need to do is add a link to your product description. This will create à smooth and easy process for all potential consumers.”
People want to be proud of what they buy, because they want to share their purchases with their surroundings. Being human is important- you want to make the experience emotional for your target audience. There are different ways of doing this, such as using live chat – people want to spend less time searching for information, they want easy access, they want you to feed them this information directly. Reminders can also do the trick. It’s so easy nowadays to get distracted by our day to day routine, you want to send your customers an e-mail or two and maybe a voucher to remind them of your existence! Most importantly, let people speak about you! The power of word of mouth is not to be underestimated. This can only help build your brand’s credibility and reputation.
A word of advice from online marketing specialist, there is no need to invest all of your budget on new technology. However, there is a need to embrace change and try to personalize your customer’s experience. Finding new ways to find data is key to any company’s survival. “Be there, be relevant!”
The key ingredients to attain ecommerce success
Jeffrey Talajic, VP of sales and marketing at Live Out There, specialized in active outwhere (ex. Columbia, North face) shares his views on how to be successful in ecommerce. Mr. Talajic says it’s all about customer acquisition and retention. These are the two key ingredients to a successful ecommerce strategy. But which on of the two should managers focus on more?
People often say “It is 6 to 7 times more expensive to find a new customer than to keep an existing one”. How accurate is this statement? Has anyone actually tested this? Jeffrey Talajic decided to conduct an experiment based on his line of work. February was the end of season sale for his company, Talajic created and published a few online ads on Facebook. So Facebook has what we call lookalike audiences – you basically upload a list of email addresses and ask Facebook to find emails that are similar to the ones on the list that was uploaded. These are what we call “acquisition groups” on Facebook. Talajic worked with 3 retention groups. Here are the results of his experiment:
- Reached 50 000 through these ads between February 15th – 22nd for a total of 1 500$
- Talajic was able to acquire 48 new purchasers. (Not bad!)
- This comes out to about 10$ spent on each new consumer
We think it’s safe to say that the statement above is not always true. Not in this case anyhow – in Talajic’s case, it costed him 3 times more to acquire a new customer than to remain with the ones within the group. It’s all relative to what your cost and selling prices are. There are no set rules. It’s important to understand that managers don’t really care where your consumers come from, old or new, they just want people to BUY their products! The most efficient way to spend your budget is where your cost is at its lowest. This depends on the stage of your business as well (growth, mature). If you’re a startup then don’t just focus on those few customers, focus on growing!
If you have the time or money to focus only on one group, focus on recent buyers. You need new people to get new recent buyers, you can’t just live on recent buyers. It is important to focus on a larger audience and to focus your attention on new people! Acquisition ads are easy to run and help business grow much more. It is said that “New buyers buy more than recent buyers and that the first purchase is the usually biggest purchase in terms of value.”
All in all, we have learnt the importance of online content strategies, as well as customer strategies, in the world of ecommerce. These two categories of strategies can be used hand in hand, as they will allow any business to move forward with their brand.