– ROAS (Return on Ad Spend) is influenced by the quality of the audience and the customer journey, not just the ad itself.
– CAC (Customer Acquisition Cost) is largely determined by the quality of the audience and the offer being presented.
– Conversion rate is a result of a good quality audience, a smooth customer journey, and an appealing offer.Automate customer support and add a repeat customer flow to emails based on customer information to save time and increase revenue.Today is Friday, meditate on the following things over the weekend:
1. ROAS is a function of a quality audience and a good customer journey, not your ad.
2. CAC is largely determined by the quality of the audience and the offer.
3. Conversion rate is a function of a good quality audience, a good customer journey, and a combined offer.
4. Data is the only way to understand the quality of the audience; there isn’t a KPI for that.
5. Retention is a result of a quality product that the purchaser perceives as valuable and uses to the point where they find the need for another one. It’s about timing, use, and need.
If you see a lot of brands focusing on branding, this is the reason. They understand that all the KPIs in the world don’t matter if you don’t create a good customer experience. Brands that focus on a good customer experience play the long game. If you focus on a data-first approach, you mold your customer experience to what people who are actually buying are telling you before they checkout. The only metric I look at daily is profit. The rest of it is just noise.
Is there room for improvement? Absolutely, but I tackle improvement based on saving operating time. So my next focus is:
1. Automating customer support with data – should be done within a week; it’s been a month-long project.
2. Adding a repeat customer flow to our emails based on information provided by the customers.
With these two automations, we’ll reduce the amount of time spent dealing with tickets and unlock at least 10% more revenue by being in front of customers more often at key times based on data when they are likely to purchase. From there, it’s just improving ads and landing pages around the data that’s being provided. Micro tweaks.
Have a great weekend! #data #ecommerce #customerjourneyhttps://www.linkedin.com/in/jivanco