The Agency Playbook for Accelerating Year-Over-Year Growth with the Customer Value Journey
What Was This Session All About?
If there was one bright side to COVID, it was how much eCommerce skyrocketed. Customers were quarantined, or their favorite stores were closed, so they were ordering online like crazy.
But selling online isn’t necessarily easy, as you have tons of competition to consider. So, talking to those who figured out a formula that worked can be one of the most valuable pieces of information for those who want to grow their online business.
Take a look at Scott’s presentation at T&C and look at the customer’s journey from becoming aware of the product and becoming a repeat customer.
Who is Scott Cunningham?
- Founder and CEO of Social Lite
- Co-Founder of Merchant Mastery
- Certified Partner at DigitalMarketer
- Teacher at the University of Alberta of eCommerce Sales
What We Learned
eCommerce in 2020
US eCommerce sales grew 14.9% from 2018 to 2019. This year, applying the same growth rate, we expected 2020 eCommerce sales to reach $691.4 Billion. But instead, it was expected to hit $1.1 trillion.
2020 had a 76% increase in eCommerce sales from 2019.
Three categories of clients:
- Crawl: Companies that make under $100k.
- Walk: $100k-$1 million
- Run: $1million+
The strategies Scott’s company uses help companies at all of these stages.
Playbook For Accelerating YOY Growth
#1. The Customer Value Journey
What does the customer go through as they go from learning about your product to buying your product?
- Aware: The customer discovers you. Facebook, Instagram, Google, YouTube ads, and affiliate marketing go into this stage.
- Engage: The customer gets a more profound sense of your brand. Focus on your product page, presell page, and retargeting pixel+ ads.
- Subscribe: The customer is interested in continuing the conversation. Opt-in to access offer Pre-purchase and abandoned cart glows.
- Convert: The customer purchases something for the first time. Focus on Front-end offers and offers to increase AOV.
- Excite: The customer becomes a believer. Next, focus on your post-purchase upsell. Use the “white glove” treatment.”
- Ascend: They become repeat buyers. Focus on customer lifetime value, loyalty programs, broadcast emails, and “hot ads.”
- Advocate: The customer gives you testimonials. Focus on referral marketing, customer social sharing, and friends and family codes.
- Promote: They tell their friends and family. Focus on testimonials and reviews.
#2. Offer Strategies
The convert stage is when you get customers to commit for the first time. Then, get their email address from the subscribe stage, and get the customer to buy as much as possible the first time.
“Always On” Offers
- Just Pay Shipping
- Free Gift With Purchase
- Spin to Win
- Free Shipping Threshold
- Welcome Discount
- Exit Intent Cart Saver
- Buy more, save more
- Free Gift with Purchase
- Product Launch
- Early Access
Make offers at every stage. It’s not always a discount. An offer is simply an “ask.”
#3. List Building and Email Strategy
You should always be actively building your email list. Email revenue is up 86% compared to pre-COVID times. BFCM Revenue generated through email was $917 million.
So, how do you build your email list? Early access lead from ads. Scott’s company used this, asking potential buyers to sign up to their email lists. Welcome offers are also compelling. Email automations are another effective strategy.
The Big Three Email Automations
- Abandoned Cart Series: A series of about three emails where they ask about the cart you abandoned You might provide more information about the products or contact information.
- Welcome Series: They just opted into a welcome flow, so what do you do for them next? Some examples of the emails include a gift guide, a guide to what else you sell, and a sale promotion.
- Post-Purchase Series: Thank yous, a reminder that your order is on its way, or additional information about more products are all excellent examples.
The Big Four Broadcast Campaign Categories
- Product-Based: New product announcement or new color releases
- Content-based: Sharing cool stuff that reflects your brand or events (such as hosting a pop-up shop.
#4. Scaling on Facebook
- Test creative with audiences. Create 3-5 different ad creatives and figure out which one resonates with your audience the most.
- Test winning creative with new audiences.
- Scale audiences with winning creative.
- Scale and spend once your reach profitable ROAS.
Use testimonials everywhere. 84% of people trust online reviews as much as friends, and 91% of people read them.
Lookalike Audiences (Inside Stages)
- Aware: Facebook and Instagram Engagement
- Engage: Video views, Top 25% of time spent on the page, Page views x3+, Pageviews
- Subscribe: Email opens, clicks, email list, lead from opt-ins
- Convert: Purchased once, IC/ATC in past 180, 90, and 30 days
- Ascend: Top 1000+ customers based on CLV, Purchased over xx times, Purchased over $xx, Purchased last 180, 90, and 30 days, Customer list.
- Advocate: Purchased and gave a testimonial
Check Out Merchant Master
To learn more about what Scott does, you can email him at email@example.com. You can also visit Facebook.com/merchantmastery.
What Do You Think
If you watched this presentation or are familiar with Scott’s work, I want to know what you think. Leave a comment or tell a story below.