Customer Acquisition Best Practices in E-Commerce from DRS, 7.28.14
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Transcript of Customer Acquisition Best Practices in E-Commerce from DRS, 7.28.14
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CUSTOMER ACQUISITION BEST PRACTICES IN E-COMMERCE
2014
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About Me• CEO and Founder, Zola
• Chief Product Officer, Chloe + Isabel
• Founder + GM, Gilt Taste | Member of Gilt Groupe executive team
• Product + business leader, Gilt mobile
• Product management leader for new Gilt business launches: Gilt City, Gilt Man, Gilt Home
• First Product Marketer/Dir at Gilt Groupe
• Product marketing for Yahoo! mobile and Yahoo! search marketing
• MBA, Stanford Graduate School of Business
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NO AMOUNT OF ACQUISITION MARKETING CAN SAVE A BAD PRODUCT-MARKET FIT.
(BUT IT CAN ACCELERATE THE SUCCESS OF A GOOD ONE)
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Why customer acquisition matters
• A realistic plan is the most important thing after Product-Market fit
• It forces you to think deeply about the business you are in – Are you acquiring consumers or businesses? Or both (e.g.
Dropbox)?– Who exactly is your target customer? It cannot be every customer.
• It may be the difference between you wanting to pursue or not pursue a business – depending on the cost vs. benefit of acquiring a customer
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Customer Acquisition Lingo 101
• CPC = Cost Per Click
• CPM = Cost Per 1000 impressions
• CPA = Cost Per Acquisition / CAC = Cost of Acquiring a Customer
• LTV = Lifetime Value
• Payback = the time it takes for a customer to pay back your CPA (spend that money back with you)
• Margin = If you are in the business of selling things, the difference between your retail price and your wholesale price
• Subscribers = people you acquire for your email list
• Customers = people on your list who have bought something from you
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From Day 1, virality HAS to be built into the product
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Acquisitions Lifecycle depends on the stage of the business
PRE-LAUNCH
GROWTH OPTIMIZATION
LAUNCH
Acceleration
Example Tactics
• Paid
• Referral Programs
• Events
• Engagement email/push
• Pre-launch awareness
Example Tactics
• PR
• Social
• Add emails to the “launch announcement” list
• Awareness Building
• Benchmarking
Example Tactics
• PR
• Social
• Paid experiments
• Industry blogger outreach
Focus on key channels
Example Tactics
• Paid
• Engagement email/push
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Naming for easier acquisitions
Objectives:• Be spell-able• Be searchable• Be easy to remember• No existing associations• .co vs. .com
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Seed Social Accounts
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Seed first batch of customers or users any way you can to get the flywheel turning
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Pre-Launch: It’s never to early to think about customer acquisition!
Objectives:• Drive awareness of launch • Drive collection of emails, or other outreach
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LaunchObjectives:• Drive awareness and traffic to site or app• Once people get to your site or app, what is your primary goal?
• Zola’s primary goal = engaged couples registering on Zola • Channel experiments – category sites, Google, FB, blogs• Find benchmark CPAs for your site - > conversion rates, start to
get some sense of forecasting LTV
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My Top 7
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1. Facebook Targeting
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2. Content Marketing
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3. Referral Programs
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4. Sponsored Posts
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5. Notifications
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6. BD/Marketing partnerships once you have something to offer
partners
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7. Events give online brands a way to connect to potential customers
in the real world