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- How Loyalty Stands When Prices Climb – The Results Are In
How Loyalty Stands When Prices Climb – The Results Are In
10% Better by blimpp - June 21, 2024
We love data. And in this edition we have lots of it.
First up in the Deep Dive, we look at relationship between increases in price and subscription loyalty. We also take a look at what specific generational groups desire when it comes to the overall shopping experience - from frictionless payments, to a seamless omnichannel experience.
In this week’s A or B, it’s Allbirds vs. Crocs - which brand made $3.5bn last year? Cast your vote.
We also go deep into a performance marketing case study in The Glow Up. One brand, one search query, two ads. One made $157k more than the other.
And then there’s the latest video from the blimpp YouTube channel in This or That? Influencer marketing vs. customer reviews.
Happy reading!
Today’s deep dive - trends in D2C eCommerce (and why they matter).
We've crunched the numbers and analyzed the data to bring you a comprehensive overview of what's changing in the world of eCommerce.
Subscription Customers Largely Unmoved By Price Increases
First on the agenda: does raising price, reducing product availability, or messing up deliveries impact on D2C subscription customer loyalty?
Well, not really.
Research shows that a whopping 60% of subscribers remain loyal to their favorite brands, even in the face of increasing costs, product scarcity, and irregular deliveries.
This just underlines the immense potential of the subscription model in building and maintaining long-term customer relationships.
Here are a few ways brands can better serve their MVP customers:
Sync subscription audiences into ad platforms.
Create specific campaigns around these groups.
Sync churned subscribers and target them through win-back campaigns.
Run specific campaigns for one-time purchasers, with the aim of turning them into subscribers.
Create lookalikes around MVP customers, targeting them with competitive acquisition offers.
Millennials Pushing for eCom Innovation More Than Any Other Group
Let's talk about preferred eCommerce innovations across generations.
Data reveals that Millennials are the most eager for cutting-edge eCommerce experiences, with 58% seeking personalized product recommendations and 53% desiring seamless omnichannel experiences.
On the other hand, Baby Boomers prioritize ease of purchase above all else, with only 16% expressing interest in personalized service and 11% in voice assistants.
So what should you do with this data?
Well for a start - know your audience, and personalize the experience as best as possible.
To cater to Millennials' expectations, marketers should:
Invest in data analytics tools to gain a deeper understanding of individual customer preferences and behavior, enabling them to deliver highly targeted, relevant product suggestions.
Create a unified brand experience across touchpoints, allowing customers to seamlessly switch between channels without losing context or progress.
For Baby Boomers prioritize ease of purchase above all else. For this demographic, eCom marketers should focus on creating a simple, intuitive interface that minimize cognitive load and reduces the risk of confusion or frustration. Check your heatmaps for Dead Clicks, Excessive Scrolling and Rage Clicks!
This may also include:
Streamlining navigation, using clear, legible fonts and contrasting colors, and providing detailed, easy-to-understand product info.
Using Live Chat functionality to assist with queries that may come up during the buying process.
The key is to prioritize the innovations that matter most to each demographic while ensuring a seamless, frictionless purchasing journey for all.
It’s poll time - which brand made more money last year - AllBirds or Crocs?
Which of these brands made 3.5bn last year? |
Here’s a Quick Win on how we increased revenue by $157k for one of our clients in the beauty space using enhanced Trust Signals.
What are enhanced Trust Signals I hear you ask?
Think testimonials, reviews, expert endorsements, celebrity and influencer endorsements, and trust badges.
Here’s how we did it:
First headline: The objective here is to be as relevant as possible to each search query as possible - be as descriptive as possible when talking about your authority figures, i.e. ‘Top Derms’ instead of just ‘Dermatologists’. A/B test against more stat-driven copy, i.e. ‘As Trusted by 93% of Top Derms’.
Second headline: If you have award-wins, use them here. But be sure to test them with other trust signals. Again, use your trust signals in the context of the ad group theme.
First description: Use this space to verify your headline claims. The first description should elaborate on your first headline. Again, lead to the desired output (e.g. clear skin).
Second description: The second description text is a great place to use any quotes or endorsements, in addition to factual trust claims (awards, certifications, clinical study data).
Sitelinks: Gather your key trust pages here and ensure all istelinks are relevant to each ad. Use action-led copy (e.g. ‘See Before & Afters’).
Influencer Endorsements or Customer Reviews - which one really makes people buy? The answer may surprise you.
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You’ve heard the buzz about influencer marketing.
Brands partnering with social media stars to promote their products.
When it works, it can be a level-raiser for even the smallest eCommerce brands.
But let’s be real – not every influencer campaign is a homerun.
Maybe you’ve even tried it yourself, only to be left scratching your head when the results fell flat.
So what’s the secret sauce? What separates a successful influencer partnership from a flop? In this article, we’re going to dive into the ABCD’s of influencer marketing success; we’ll also discuss some of the common pitfalls that can hinder even the most promising influencer marketing campaign.
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