– The four-step plan to success for any ecommerce brand involves focusing on quality audience and customer journey, data collection, ads, and the landing page with a hero product.
– Data collection is crucial, and understanding data combinations in relation to conversion, revenue, and profit is important.
– Using data combinations to create better ads, targeting the highest quality audience, and optimizing the landing page with relevant value propositions are key strategies for success.Implement a data-driven approach to optimize ads, landing pages, and offers in order to increase conversion rates and profitability for an ecommerce brand.The Four-Step Plan to Success for any Ecommerce Brand: Focusing on the only two things that matter – quality audience and customer journey.
Data Collection
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It all begins with data. Have a plan for collecting it. Be able to understand data combinations as they relate to conversion, revenue, and profit. Collect and utilize quality data with context.
Ads
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Use the data combinations to unlock insights to create better ads and to improve on ads that are currently driving the highest quality audience. The highest quality audience is the audience that converts at the highest rate and drives the most revenue. Usually, there is a correlative relationship between these. You can find the highest quality audience by looking at data combinations relative to answers being provided. Use the data to create ads for the right audience that converts.
Landing Page with Hero Product
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Expand on the single value proposition from your ad to supporting value propositions on the landing pages. Include your offer above the fold and also below. If your social proof is good enough on the ad, people will just want to see the offer on the landing page. Take secondary value propositions that are also high converting and include them on your landing page as well.
Offer
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Run a unit economics analysis to understand which offer makes the most sense by measuring discount, CAC, and overall profitability. Your goal is to get the product in hands and the lowest CAC possible. This usually provides the highest profit margin on the first purchase. Put the offer in the 3rd email in the welcome series for people that sign up via that landing page. Restrict that offer to only paid traffic to maximize your margins from people that come in from other channels or come back a second time. Automate a flow for customer support when people ask about the deal. They should have access to a link to go back to it. When you take this approach, you build a pattern of continual improvement across your messaging, which leads to increased conversion rates and greater profitability.
Doing this properly requires two things:
1. The right tool that was designed to do this from the beginning.
2. The right knowledge to read and apply data learnings.
This is a shift, but when done right, it’s a deadly combination of optimization. #ecommerce #customerjourney #datahttps://www.linkedin.com/in/jivanco