ANNOUNCEMENT

Did you ever wish that there was a matchmaking service for business networking?


Imagine having the ability to make meaningful connections with people who will actually push the needle to help you achieve your aspirations. 


Well get excited , because Furlough is rolling out this new free feature which will revolutionise how you interact and network in the server! 


Stay tuned for the official release!

THE ALPHA

​​Is Pinterest ads a good channel to grow my eCommerce store? 
 

With over 431 million monthly active users, and more than 60% female users, Pinterest is an amazing social media platform that attracts people to explore visuals and engage with trends.


Still the vast majority of eCommerce stores don’t make profit from Pinterest ads.


How could that be?

The main reason for that is because most brands are duplicating the same strategy from FB ads to Pinterest ads by utilizing shopping campaigns and tagging products.


Pinterest doesn't work this way.

Simply because Pinterest users are not in buying mode, they are in exploration mode. 97% of the top searches on Pinterest are unbranded - which means Pinterest users are not actively shopping for products.


If you push products in the face of someone who’s exploring without the intent to buy you can’t expect stellar results. 

So what’s the solution?

The way to utilize Pinterest ads should be by taking prospects into an exploration journey. If for instance your brand sells luxury clothing, the funnel should be around the experience and lifestyle visuals around your brand.


E.g. a gallery from an awards show with the luxury clothing (not just one), imagery, videos and testimonials reflecting an experience in your designated landing page will work significantly better than sending them over to your product page.


Then you want to remarket to those audiences across FB and Google and capture them this way. This flow will enable you to test if Pinterest ads is a solid avenue to grow your eCommerce store.


There's no guarantees here, but we’ve seen multiple brands crush Pinterest by approaching it in a similar manner.


And last but not least, a pro hack:

Opt out from Pinterest shopping ads - this was a way for Pinterest to entice eCommerce brand owners to invest money on their platform, but not in a way that resonates with the customer journey on Pinterest.

IN THE NEWS

Big news from two of the giants of the digital marketing industry. Klaviyo and Shopify announced a strategic partnership last week allowing them to work more closely than ever before. They had an existing integration, so what’s really changing? A lot apparently. With a 100M investment into Klaviyo, Shopify strengthens the existing long term partnership between the two companies. Users should expect new technologies designed to help merchants navigate recent shifts in online marketing. 
 

The announcement comes amidst criticism of the ecommerce platform. Shopify very recently laid off 10% of their workforce as consumers change their shopping patterns with threats of a recession on the horizon.   
 

• Marketing into a recession: What you should focus on during this recession to increase your ROI

• Facebook vs TikTok: New data indicates that TikTok is on track to overtake Facebook in influencer ad spend dollars, YouTube by 2024 

• Etsy supporting work life balance: Etsy is closing offices in California and New York after remote workers said they’d rather stay home.

FURLOUGH TV

• How to scale your startup & increase customer lifetime value w/Padl

• The secrets to scaling your business from an 8-figure marketer

• How to build and grow a no-code Discord AI tool w/Bot Disco

• Copywriting Secrets + Your guide to writing copy that actually converts

WHAT YOU MISSED LAST WEEK

Running a successful marketing agency comes with it's own set of unique challenges. In last weeks BIP we interviewed Tony Bradberry, from Grey Matter, a 7 figure agency that has 15-20% month over month growth. 

Here are 3 tips from Tony to run your agency successfully:


Don't modify your processes for desperate clients. 

Agencies can't always work miracles. If a potential client comes to you in a desperate state, looking to rush your process this is a red flag. This often happens with bootstrapped startups so before choosing to work with one, ensure they have adequate runway first. 

Your work should lead the price. 

Most agencies stall between 5-10 employees because of profitability issues. The key here is to avoid giving away the margin you need for someone to deliver the scope of work. Stick to your prices and don't let clients devalue what you do. 

Keep your churn rate below 12%. 

Simple actions like talking to your clients at least once a week and replying within a two hour period (working time) make a big difference when it comes to retaining clients. Tony likes to use the law of reciprocity by empowering employees to do acts of kindness such as gifting flowers to clients and allocates a portion of company budget towards this. 

Want to hear more gems like this?

Catch Build In Public Radio on Apple Podcasts & Spotify!

EVENTS THIS WEEK

• Kick Off
  
  Let us start your week off right with the Furlough Weekly Kick Off. Coming at you live from Furlough TV, be sure to tune in and catch up with your faves. 

• Startup Booster
  
  Is scheduling content your biggest time suck? This week we are welcoming Neulink to the stage. Time is money, and Nuelink saves you time. Their automations, templates, and scheduling abilities allow your social media to basically run itself.  
   

• CRO Webinar with Carl Weishe:
  
  Get started with our first of three Conversion Rate Optimisation sessions to learn how to build a high converting store.
   

• Build In Public
  

  This week on BIP Radio we’re inviting you onto the stage. In this format, we focus on a general topic for the episode, and we want to hear from you, your tips, tricks, hacks and experiences with the given topic. Hosted as always by the enigmatic Bret and Shaun, this is a super easy entry to Furlough’s events. 

MARKETPLAC3

Featured Bounty: Design a Local Roofing Website 

Skills: Design + Writing

About: Find or create a beautiful roofing website to collect forms and phone calls.

Reward: $100 USDC

Task Points: 5 

Reviewer: Giovanni

They say all good things come to an end...

But you're just getting started! Grab your points and catch up with us over on Discord for a gem packed week of events!

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