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Marketing Breakdown

The ideal scenario is; you got more sales, leads and first-time buyers to your SaaS or eCom store this BFCM, but now it’s time to double down on the Lifetime Value (CLV).

We’re going to break down the specifics on a few proven strategies on how to get there.

You gotta know your numbers first. So how do you calculate CLV? It turns out not everyone has the same method.

Some argue that expenses should be considered, while others disagree, so we wanted to outline the six common methods CLV is calculated.

Side note- method 4 may be one of the most popular methods but is also prone to errors.

Ok, let's keep going.

1. Better Onboarding

First impressions are everything, whether in person or online, so focusing heavily on the initial interaction makes a big difference.
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Considering poor onboarding is one of the biggest causes for churn, about 23%, simplicity is key. Make things straightforward, easy and engaging. This is true for products and SaaS.

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2. Value-Driven Communication
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​Every touchpoint should leave your client with a little more knowledge when they hear from you. The key to a compelling message is to give your client valuable information that you know they care about in the more straightforward way possible.
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For instance, if you're selling shoes, a touchpoint such as how to prevent shoes from getting damaged in winter, or how to store off-season shoes, etc., are pieces of valuable information that you know your audience would care about.

Need ideas? Here are 6 engagement content ideas you can use

• Educational- relevant product info
• Promotional- Discounts & sales
• Re-engage- Win-back messages
• Feedback- Get insights
• Marketing- Latest feature or newsletter
• Updates- What's new and better (and why should they care?)

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3. Multiple Avenues of Support

98% of people switch devices regularly. It would help if you noticed where your clients are, offered multiple channels for communication, and aimed to respond ASAP; 84% of customers expect a response in 24 hours. It could be Twitter, email, Whatapp, etc. If you're not sure, set up multiple channels and measure.

The aim? 24/7 Live chat support
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4. Get Feedback (and then do something about it)

You may feel that most people won't bother with feedback, but that shouldn't stop you from trying. Whether it is their feedback about their interaction, product, customer service or how likely they are to refer you, ask for the feedback and make it EASY for them to submit it. Please don't make them go to another window or platform, or you risk losing them.

Also, do something about the feedback, especially if there's a common theme. Detect their pain point, make swift changes and provide solutions where possible.

5. Create a Personalized Experience

People just want to be understood and put their money where their emotions are. 77% of people have spent more money or recommended a brand that has provided them with a personalized experience.

• Hyper-segment your audience and create different incentives/messages
• Push communication based on their pain points
• Stick to style/solutions they like or need
• Use their name where possible.
• Pay attention to the type of emails/communication they engage with
• Give more of what they like
• Have them spread the love (make it easy to extend a promo specifically for them not available anywhere else for them to send to their friends, clients, family etc.)
• Create a rewards system
• Create 'surprise' discounts and promo
• Acknowledge their interaction with you- say thanks + a freebie (can be an eBook)
• Change the language to conversational rather than formal or like they're on a marketing list.
• Give discounts on upsells or cross-sells that make sense.
• Anticipate what they will need next based on their order based on previous purchase
• Create a secret landing/sales page that only your email list has access to, everyone wants to feel special

6. Expand Revenue ​
Each of these points deserve a mini master-class of their own on the best strategies to get more revenue from each method. Most you’re familiar with but one of the best ways to get to your goals is to create your strategy, start, test and then optimize. Give yourself some data first to know what to aim for.
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But here are some ways to expand your revenue:

• (SaaS) Annual billing: encourage annual billing with promo's
• (SaaS) Temporary upgrades: Give access to features or a free trial
• Offer bundles: Group products or services together and sell for less
• Side widgets: Push the most popular products to minimize decision paralysis
• Good surprises: Add a freebie at checkout
• Cross-sells: Strategically choose to cross-sell products to complement the purchase
• Up-sells: Make it irresistible and a great deal
• Free Shipping: Add a minimum spend; this is one of the easiest ways to increase sales
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Marketing News​
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You no longer have to rely on third-party tools to find out popular keywords on YouTube, we’re going to find out this info straight for the horses mouth.
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YouTube just announced that it would be providing 'search insights' for creators to help guide content.
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This new insight feature for YouTube Studio will provide keyword insights for your channel and general search inquiries, which can be accessed in your Analytics/Research tab when it becomes available, that is.

They're still testing this new feature.

Here's what you need to know:
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Content Gap: YouTube will allow you to filter searches that don't provide a high volume for matches which will help guide creators to get exposed to new opportunities by focusing on creating content that aligns with searches.
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Searches Across YouTube: You will be able to gain insight into the most popular searches on any keyword.

For example, let's say you wanted to see what the most popular 'how to' searchers are on YouTube, just enter 'how to' as the search term, and you will get the results.
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Pretty predictable…

But, you can also narrow that list to 'Content Gaps only,' which will then show you some of the most searched 'how to' inquiries that are not being serviced by directly aligned videos. In other words, people are searching for videos, but there's a lack of content/videos.

That gap is the lowest hanging fruit you need to go after.

If you're wondering when this will be available, it's the same answer your mom gave when you asked when dinner would be ready; soon.

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Marketing Resource

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Much Love,

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Wiz of Ecom
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