Customer Acquisition Best Practices in E-Commerce from DRS, 7.28.14

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Shan-Lyn Ma from Zola presentation deck from Digiday Retail Summit, 7.28.14

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  • About Zola
    Zola is re-inventing the wedding registry
    We work with brands to showcase them to engaged couples.
  • Give Zola example – over 200 surveys
  • Incorrect use or assumptions around the acronyms can have the business making fatal decisions
  • Explain inherent viral nature of a wedding registry – what is the reward the user gets for sharing with their friends?
  • Cost and challenges of producing high quality content
    Distribution challenges: where else can it live. Who is hungry for the content and wants to share it.
    Adding an extra step is more helpful and may be higher converting. Already taking existing content E.g. http://blog.grandst.com/five-emergency-preparedness-products-for-any-sticky-situation/
  • have transitioned from innovative to standard must-haves
  • Email and mobile
  • Customer Acquisition Best Practices in E-Commerce from DRS, 7.28.14

    1. 1. CUSTOMER ACQUISITION BEST PRACTICES IN E-COMMERCE 2014
    2. 2. 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
    3. 3. NO AMOUNT OF ACQUISITION MARKETING CAN SAVE A BAD PRODUCT-MARKET FIT. (BUT IT CAN ACCELERATE THE SUCCESS OF A GOOD ONE)
    4. 4. 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
    5. 5. 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
    6. 6. From Day 1, virality HAS to be built into the product
    7. 7. Acquisitions Lifecycle depends on the stage of the business PRE- LAUNCH GROWTH OPTIMIZATIONLAUNC H 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
    8. 8. Naming for easier acquisitions Objectives: • Be spell-able • Be searchable • Be easy to remember • No existing associations • .co vs. .com
    9. 9. Seed Social Accounts
    10. 10. Seed first batch of customers or users any way you can to get the flywheel turning
    11. 11. Pre-Launch: It’s never to early to think about customer acquisition! Objectives: • Drive awareness of launch • Drive collection of emails, or other outreach
    12. 12. Launch Objectives: • 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
    13. 13. My Top 7
    14. 14. 1. Facebook Targeting
    15. 15. 2. Content Marketing
    16. 16. 3. Referral Programs
    17. 17. 4. Sponsored Posts
    18. 18. 5. Notifications
    19. 19. 6. BD/Marketing partnerships once you have something to offer partners
    20. 20. 7. Events give online brands a way to connect to potential customers in the real world
    21. 21. Thank you. Shan-Lyn Ma shan@zola.com @shanlynm @zolaregistry

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