ABM best practices for your SaaS business
Jan 18, 2024
Jan 18, 2024
10 min read
10 min read
In the consistently developing scene of B2B promoting, Account based Marketing (ABM) has arisen as a progressive power, furnishing associations with a key and customized way to deal with connecting high-esteem accounts. When marketers prioritized quality of leads over quantity, 73% of them reported a rise in average deal size specifically in ABM accounts. This exhaustive aid expects to dive deeply into the complexities of b2b ABM, covering all that from establishing the groundwork by understanding the essentials to executing demonstrated strategies and following an extensive ABM system. Whether you're in SaaS email marketing or other industries, the principles of ABM can be applied to enhance your approach and build meaningful connections with your target accounts.
Understanding Account-based Marketing
At its center, Account-based Marketing is an essential methodology that includes fitting promoting endeavors to explicit high-esteem accounts distinguished as ideal clients. This requests a consistent joint effort among Marketing and outreach groups to target and market straightforwardly to individual associations that align with the Ideal Client Profile (ICP).
Three types of ABM:
Coordinated (Key ABM):
- This approach targets solitary, high-esteem accounts with profoundly customized commitment, zeroing in on building profound associations with key leaders.
- The degree of customization in this kind of ABM framework is concentrated, requiring careful comprehension of the objective record's trouble spots and extraordinary difficulties.
One-to-Few:
- Targets lower-level Accounts with comparable difficulties, considering productive customization of effort to shared qualities.
- While not quite so separately customized as balanced, this approach actually guarantees an elevated degree of personalization for improved significance.
One-to-Many (Automatic ABM):
- Targets bigger gatherings given general measures, like size or industry, while simultaneously consolidating customization to catch a more extensive market portion.
- This sort of ABM is more versatile, making it reasonable for contacting a more extensive crowd while keeping a level of personalization.
The Three Mainstays of ABM:
Focusing on:
- Transforming the customary promoting channel, ABM accentuates explicit high-esteem accounts.
- Fostering a profound comprehension of the Ideal Client Profile (ICP) is significant for exact focusing on.
- The utilization of cutting-edge information investigation and prescient demonstrating upgrades the precision of focusing on endeavors.
Content:
- Personalization is at the core of ABM, requesting content and informing custom fitted to every individual record.
- Making customized content, including messages, contextual analyses, and online courses, becomes basic to upgrade importance and reverberation.
Congruity:
- ABM is certainly not an oddball crusade however a ceaseless course of supporting and keeping up with associations with target accounts.
- Laying out standard touchpoints, customized subsequent meet-ups, and progressing commitment is imperative for building trust over the long haul.
Advantages of ABM:
According to a study, the implementation of ABM has allowed 75% of B2B marketers to connect with the appropriate buyers at an earlier stage in their buying journey. The measurements say a lot about the effect of ABM on B2B promotion:
- 87% of B2B advertisers guarantee higher returns for money invested with ABM.
- Organizations utilizing ABM witness a 171% more prominent typical yearly agreement esteem.
- A mind-boggling 96% of advertisers attest that ABM decidedly impacts their prosperity.
- 60% of ABM clients report expanded income in an extended time of execution.
Best Practices for Account-based marketing:
Tailor Content Points:
- Making content given target account problem areas and necessities guarantees quick significance.
- Zeroing in on unambiguous difficulties catches consideration and shows the offer all the more.
Cut up Your Information:
- Reusing unique information like saas marketing case studies to fit it into designated accounts improves the personalization of effort endeavors.
- Portioning and repackaging insights well-defined for enterprises, sizes, or development levels further refine the customization.
Use Video to Stick Out:
- Customized video messages have been demonstrated to improve commitment essentially.
- Using video in email crusades, screen share recordings, and customized recordings adds a redid contact to correspondence procedures.
Separate Client Tributes:
- Modifying client tributes to align with designated accounts' difficulties and objectives adds validity.
- Making a library of miniature tributes custom-fitted for various market portions upgrades flexibility.
Record Explainer and Thought Administration Recordings:
- Building a library of video content explicitly intended for ABM crusades is an essential move.
- Explainer recordings address client questions, while thought initiative recordings add to laying out major areas of strength for a presence.
Exceed everyone's expectations with IRL Gifts:
- Sending actual gifts to possibilities acquaints an individual touch with the commitment cycle.
- Exploring and customizing gifts in light of prospect inclinations exhibits a certifiable interest in building a relationship.
Target Key Accounts with Advanced Promotions:
- Computerized promotions assume an urgent part in upgrading inclusion and permeability.
- Estimating results and following adequacy are fundamental for refining strategies and streamlining future missions.
- Implementing technical SEO for SaaS into your ABM strategy can enhance visibility and optimize engagement for targeted accounts.
ABM Structure:
Marketing Deals Arrangement:
- Guaranteeing a consistent change among Marketing and deals exercises is basic for ABM achievement.
- Settlement on asset allotment, jobs, obligations, and achievement measurements encourages compelling joint effort.
Account Capability:
- The formation of an Ideal Client Profile (ICP) is a basic move toward distinguishing high-esteem accounts.
- Factors, for example, financials, versatility, and cutthroat scene add to compelling record capability.
Go-to-Market Approach:
- Delineating the client excursion and deals process helps in recognizing touchpoints for customized commitment.
- Recognizing areas of progress adds to making a profoundly customized and significant purchasing experience.
Utilizing Plan Information to Improve ABM:
- Utilizing plan information gives continuous experiences into client conduct, empowering associations to adjust methodologies given the most recent patterns and interests, particularly in SaaS account management.
Adjusting Measurements to Partner Needs:
- Adjusting measurements to the needs of partners guarantees viable correspondence of the outcome of ABM programs.
- Getting continuous help turns out to be more feasible when the effect of ABM lines up with more extensive authoritative objectives.
Conclusion:
Account-based Marketing arises as a strong and key system for B2B associations looking to improve commitment with high-esteem accounts. Organizations can open the maximum capacity of customized Marketing by thoroughly figuring out the three mainstays of ABM, executing demonstrated strategies, and sticking to a very organized ABM structure. The essential mix of focusing on, satisfied customization and congruency guarantees a viable methodology, eventually prompting higher return on initial capital investment and expanded income. Embracing ABM isn't just a pattern in B2B Marketing but a need to remain ahead in the cutthroat scene and manufacture significant, enduring associations with key Accounts. When exploring ABM strategies, it's essential to consider collaborations with the best SEO SaaS companies for optimal results.
How Shopping Cart Abandonments Impact eCommerce Brands: Seven Destructive Effects to Know About!
It is typical for viewers to put off purchasing on occasion. Many people go shopping for no specific reason at all. To distract yourself from the seemingly unending tasks on a particularly tiring day at the office, perhaps you tell yourself that your vacation isn't still months away but is right around the corner. Therefore, you start looking for tourist places, flights, and attractions. Getting carried away, you begin the booking procedure, only to be jolted back to reality by a phone call, a slammed door, or something else. Because of the desire to make such purchases, you quickly exit the page. This sort of action is known in the digital industry as "cart abandonment.”. The Baymard Institute found that 69.82% of online shoppers abandon their carts, painting a dismal picture of the industry's status as a whole. But to what extent can this phenomenon of cart abandonment affect eCommerce brands? Let’s get an idea about this through this informational piece. 7 Shopping Cart Abandonment Effects on Your Business 1. Disappearing Customer Lifetime Value A customer's lifetime value is the monetary gain a business might anticipate from keeping that customer throughout the relationship. It's a vital indicator for online retailers since it reveals the genuine economic impact of marketing initiatives, promotes high-value customer-centric methods, and makes it much simpler to strike a balance between immediate and long-term goals. Cart abandonment clients are worth more than the amount they spent in the first place because they may become repeat buyers and refer others to your business. If you lose a consumer who could have become a loyal patron, that loss could cost you thousands over time. Even if your average order value is only a few dollars, recovering an abandoned cart could be worth thousands. 2. Availability and Inventory Management Issues In June 2020, TikTok users flocked to the Trump merchandising site. They planned to load up virtual shopping trolleys with thousands or millions of dollars worth of goods before giving up and leaving without making a single purchase. Like with a real shopping cart, thousands of things were put on hold and could not be sold to other customers. When actual customers (who were ready to convert) cannot acquire the products they want, it can be disastrous for online stores. It is a major issue for travel locations with a finite number of available beds or seats. Customers who might have converted when they added an item to their cart but never checked out are advised that the item is sold out or the date they wanted is unavailable. 3. Increased Expenses in Acquiring New Customers Content marketing, social media, sponsored acquisition channels, and influencer marketing all take up a sizable chunk of most eCommerce marketing departments' budgets as they work to increase brand recognition and customer base. The number of clicks on an advertisement or content piece does not always indicate its effectiveness in generating revenue. Content marketing, Ads, and lead nurturing are all for nothing if buyers make it through the entire funnel but don't convert at the end. Even worse, you might not even know how much money is wasted. For example, an ad might produce tremendous volumes of traffic and clicks. Since you think this advertisement is so effective, you keep pouring resources into it. You're losing customers due to cart abandonment and spending more money acquiring new ones than you need. Recovering abandoned conversions can save acquisition costs and provide more precise metrics for measuring the success of your ads. Source:Pexels 4. Costs of Retargeting Rise Abandoned shopping carts cost businesses money, and not just in terms of sales revenue. Remembering how much was initially invested in acquiring those site visitors is essential when evaluating the efficacy of retargeting vs. more traditional paid advertising in terms of cost per click. Some companies spend thousands to get new customers to their websites and only a few dollars per customer to keep them there. 5. Lower Ad Click-Through-Rates Most eCommerce teams concentrate on regaining lost customers to reduce the number of abandoned shopping carts. However, you might never achieve a perfect shopping cart abandonment rate. Some website visitors may just do window shopping research for your company in preparation for a potential future purchase. It's possible that some of your potential customers are still in the research and learning phase and haven't even considered making a purchase yet. Unfortunately, abandoned carts can wreak havoc on your ad targeting. When a customer adds an item to their shopping cart, it creates a record and a cookie, confusing your ad targeting. The ad platform, similar to Facebook, recognizes the individuals as engagements and then shows those ads to others who share similar characteristics with the original audience. Targeting individuals without the intention of converting can drastically reduce your clickthrough rate and return on ad spend. 6. Information Biased Website Negative effects from bot traffic, such as increased cart abandonment, can have far-reaching consequences. For instance, bots could fill up shopping carts with things they don't intend to buy, affecting stock levels during your busiest season when demand is highest. But that's not all that happens. What is the most visited category page on your site? What's your best-converting landing page or product? Cart abandonment can significantly affect nearly every metric tracked by your analytics platform. For example, visitors or bots that don't convert could spend a great amount of time on a given page, making you assume the page is very valuable to visitors. Or, they can quit on similar pages, making you think there is an issue on the page. Bot or low-quality traffic that won't convert might negatively impact your marketing key performance indicators. 7. Reduced Website Performance You probably already know that a poor website speed can destroy your conversion rates and cause more shoppers to abandon their baskets. For every additional second it takes your site to load, a 4.4 percent decline in conversion rate has been observed. And conversely, did you know that abandoned shopping carts might slow down your site, too? In rare instances, it might. When many people access your website, the number of things in their shopping carts can quickly grow to thousands, using server resources and slowing down the entire site. It leaves paying users with a frustratingly slow-loading site. Consequently, they will most likely visit your competitors' sites. It is especially true on Black Friday and immediately following the release of a brand new product. Other site visitors will have a dreadful time as a result. Conclusion The consequences of unchecked online shopping carts can be disastrous. Abandoned shopping carts are harder to retrieve, making it more difficult to win back clients who have already left your eCommerce site. Therefore, you need to work on decreasing the number of shoppers who abandon their carts so you can capitalize on those opportune times. At Saffron Edge, our technical experts will analyze the root cause of cart abandonment and fix the issues. In addition, our marketing professionals will approach back the customers you lost due to cart abandonment through unparalleled marketing. Talk to our experts now and know how we can help you! ...
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What are DTC Marketplaces?
KWs: DTC marketing, DTC e-commerce services, Guide to having a successful DTC brand, SEO services, Social media marketing, Online brand reputation, DTC tech commerce services Modern commerce has witnessed a profound transformation, with the pandemic acting as a catalyst for seismic shifts in consumer behavior. Ecommerce platforms and direct-to-consumer (DTC) sales have not only soared but have become integral to the survival and success of businesses across industries. Understanding the concept of DTC Marketplaces, or Direct-to-Consumer Marketplaces, is paramount as we navigate this new era. DTC Marketplaces represent a pivotal juncture in the evolution of retail. These platforms bridge the gap between brands and consumers, offering a direct conduit for businesses to reach their target audience. Essentially, they serve as digital bazaars where brands can showcase their products, leveraging the power of established online marketplaces like Amazon, eBay, or Etsy to connect with customers. The significance of DTC Marketplaces lies in their ability to provide brands with a ready-made, high-traffic stage to display and sell their wares. These platforms empower businesses to circumvent traditional distribution channels and engage directly with their customer base. In doing so, they facilitate a level of immediacy and convenience that aligns seamlessly with the demands of today's consumers. The key features and functions of DTC Marketplaces are multifaceted. They offer robust e-commerce infrastructure, often coupled with sophisticated analytics tools, making it easier for brands to track and optimize their performance. Furthermore, DTC Marketplaces provide access to a diverse and expansive customer pool, allowing brands to tap into new markets without the need for significant upfront investments in digital infrastructure. In this article, we delve into the dynamic world of DTC Marketplaces, dissecting their benefits and drawbacks and exploring how they can synergize with dedicated e-commerce websites. The strategic decision of whether to prioritize an exclusive website or embrace the reach of established marketplaces is crucial, and understanding the nuances of these options is essential for modern businesses seeking sustainable growth in an ever-evolving retail landscape. The Marketplace vs. E-commerce vs. Omnichannel Before we dive into the nitty-gritty of things, let’s get the basics out of our way by breaking down what each term means; Marketplace: A marketplace is a platform or venue where multiple sellers or vendors can offer their products or services to a broader audience of potential buyers. These platforms facilitate transactions between buyers and sellers, often providing tools and features for product listings, payments, reviews, and communication. Examples of online marketplaces include Amazon, eBay, and Etsy. Marketplaces can cover various industries, from e-commerce to services and even digital goods. E-Commerce Sites: E-commerce, short for electronic commerce, refers to the buying and selling of goods and services over the internet. E-commerce sites are online platforms or websites specifically designed for businesses to showcase and sell their products or services to customers online. These sites may vary in size and complexity, ranging from small boutique stores to large online retailers like Amazon. E-commerce sites typically include features such as product listings, shopping carts, secure payment processing, and order management. Omnichannel: Omnichannel is a strategy used by businesses to provide a seamless and integrated customer experience across multiple channels, both online and offline. This approach aims to ensure that customers can interact with a brand or business consistently and effectively across various touchpoints, such as websites, mobile apps, physical stores, social media, email, and customer service. The goal is to create a unified and cohesive customer journey, allowing customers to transition between channels seamlessly while receiving consistent information and service. Now let’s compare the former two: DTC Marketplaces vs. E-commerce E-commerce Websites Brand and Creative Control: E-commerce websites offer businesses complete design, functionality, and navigation control. This means they can create a digital storefront that aligns precisely with their brand identity and product offerings. Furthermore, website owners can iterate and update their site regularly based on customer feedback, ensuring a dynamic and customer-centric online presence. Ownership of Customer Data : Businesses can collect valuable customer information, including purchase history, preferences, and lifetime value. This data can be used for retention marketing campaigns, personalized product recommendations, and improving the overall customer experience. No Third-Party Seller Fees : E-commerce websites don't entail third-party seller fees. This means businesses can anticipate and manage their operational costs more effectively without being subject to variable fees associated with marketplaces like Amazon. The absence of seller fees allows for more predictable financial planning. Less Visibility to Competitors : When customers visit an e-commerce website, they are typically focused solely on the products and services offered by that specific brand. There is no direct comparison with competing products or brands, reducing distractions and increasing the likelihood of conversion. DTC Marketplaces Built-in Audience: DTC marketplaces like Amazon provide businesses with immediate access to a pre-existing and extensive consumer base. This eliminates the need to build a specific audience from scratch. However, it's important to note that this convenience also brings greater competition with other sellers on the same platform, necessitating a focus on product quality, competitive pricing, and optimized product listings. Customer Service Assistance : Marketplaces handle most aspects of customer service, including order processing, shipping, and returns. This alleviates the responsibility of managing customer inquiries and complaints, which can become time-consuming as a business grows. Seller Tools to Maximize Sales: DTC marketplaces often provide seller tools and features designed to enhance sales within their platform. These tools can help businesses optimize product listings, manage inventory, and even access advertising opportunities within the marketplace. However, it's important to note that access to critical customer data may be limited within the marketplace environment. Convenience of One-Stop Shopping: Customers appreciate the convenience of finding a wide range of products in one place when shopping on marketplaces. This convenience streamlines the shopping process, and customers can often benefit from consolidated, low-cost, or even free shipping options. However, businesses operating within a marketplace must be prepared to compete directly with similar products and brands available on the same platform. The choice between an e-commerce website and a DTC marketplace hinges on factors aligning with a business's specific goals and resources. Many businesses opt for a hybrid approach, leveraging both strategies to capitalize on their advantages. And this is where an omnichannel approach comes into the picture. When carefully crafted by weighing the advantages and disadvantages of both a website and a marketplace, an omnichannel strategy emerges as the most effective approach to serve customers wherever they prefer to shop. The omnichannel approach offers customers flexibility and convenience. In cases of unforeseen disruptions, such as technical issues on one platform or supply chain disruptions within a marketplace, customers can effortlessly transition to another channel to complete their purchases. This adaptability enhances customer satisfaction and reinforces your brand's commitment to providing dependable and accessible shopping experiences. The Growth of DTC Marketplaces The numbers don’t lie, and DTC marketplaces have witnessed a remarkable evolution and explosive growth, marked by significant shifts in market share statistics and an array of success stories. This dynamic sector has become a formidable force in the e-commerce landscape, and its potential continues to expand. Let’s explore this in deeper detail. DTC marketplaces have seen an unprecedented surge in market share, with US e-commerce spending skyrocketing to $870 billion in 2021, an impressive $108 billion increase over the previous year. While this growth has benefited various players, the lion's share has gone to the big marketplaces, which are steadily increasing their dominance. The most prominent online marketplaces, including Amazon, Walmart, and Target, collectively make up over half of all US e-commerce spending. In 2021, they experienced a staggering 21% growth rate, surpassing the overall e-commerce spending growth rate. Their ability to capture a substantial share of the market is undeniable. On the other hand, DTC e-commerce spending has also grown robustly, estimated at around $125 billion in 2021, a 15% increase from the previous year. While numerous new brands and small businesses have launched websites, collectively, they represent approximately a quarter of the size of the dominant marketplaces. Notably, their growth rate is slower, further widening the gap between them and the market leaders. The Makings of a Successful Marketplace Before we dive into the nitty-gritty of things, let’s get the basics out of our way by breaking down what each term means; Exposure and Discoverability: A thriving DTC Marketplace enhances brand exposure, helping brands stand out in a competitive online landscape. It often curates brands that share similar values with consumers, making it more likely for customers to engage with and buy from them. Commission-Based Model: DTC Marketplaces typically operate on a commission-based model, charging brands a percentage (usually between 10% to 35%) of sales made through their platform. This model does not require the marketplace to maintain inventory, placing fulfillment responsibility on the brands themselves. Focus on Core Business: Successful DTC Marketplaces enable brands to concentrate on core business activities, such as product development and innovation. Brands utilise these platforms to broaden their reach without spreading themselves too thin. Global Reach: Some DTC Marketplaces offer global reach, facilitating international expansion for brands. These platforms, such as Curated Crowd, open doors to markets like China, providing independent designers with access to new audiences. Add-On Features: DTC Marketplaces are increasingly offering fee-based add-on features that empower brands to enhance their marketing efforts. This includes improving social media and email campaigns to boost visibility and sales. Curation Strategy: Brands often prefer DTC Marketplaces with a curated approach, featuring fewer brands but providing effective guidance to customers. Such curation increases the likelihood of conversion. Social Impact: Some DTC Marketplaces emphasize a social impact ethos. For instance, The Fascination directs a portion of each purchase toward supporting social causes, like championing women and minority founders, allowing brands to align with meaningful initiatives. Holistic Shopping Experience: DTC Marketplaces create a more comprehensive shopping experience by offering diverse products. Brands can reposition themselves in a broader market context, potentially attracting new customer segments. Growth Potential: Brands that utilize DTC Marketplaces often experience significant growth. Over 90% of brands that join such platforms witness growth, with half of their sales increasing by fourfold, underscoring the potential for expansion and success. Understanding the Advantages of DTC Marketplaces The question arises: What explains the remarkable dominance of marketplaces in this landscape? Research has shed light on this phenomenon, revealing that marketplaces often outperform DTC brands in terms of pricing and delivery experience for the same products. Pricing and Delivery Advantage: A revealing study found that top DTC brands frequently lose the price and delivery experience battle to marketplaces when comparing identical products. This advantage was exemplified in the case of Olaplex, a popular beauty brand. Customers could purchase Olaplex products at lower prices and with faster shipping on marketplaces like Amazon and Walmart compared to the brand's own website. Getting Amazon reviews can help build more trust among customers. Marketplaces Win Customer Preference: Marketplaces, particularly Amazon, consistently emerge as the starting point for well over half of all e-commerce searches. This means that even loyal customers of DTC brands often opt to purchase from Amazon and Walmart, impacting brand margins and customer loyalty. Price Wars and Margins: Marketplaces, known for competitive pricing, also take a referral fee of 5-15%. DTC brands earn less profit per sale on marketplaces and miss the opportunity to cultivate lifelong customers. So, what does the data say? The data unequivocally demonstrates that marketplaces, especially Amazon and Walmart, frequently win the price war for DTC brands' own products. Moreover, they offer quicker delivery through Amazon Prime and Walmart Plus services. Their dynamism, coupled with a pricing and delivery advantage, has attracted a significant customer base, emphasizing the need for DTC brands to adapt and compete effectively. Benefits of Selling on Marketplaces: Why Diversify Your Channels? Diversifying your sales channels beyond Direct-to-Consumer (DTC) Marketplaces offers numerous advantages, including increased exposure and revenue streams. Here's why it's crucial to expand your reach and why your e-commerce website should be the central hub for brand identity and control: Match Your Customer's Journey: It's not just about the number of channels; it's about meeting your customers where they are on their journey. Today, customers are spread across various channels, so diversifying ensures you reach them effectively. Greater Reach: Utilizing different marketing channels such as social media, podcasts, blogs, and online communities can help you extend your reach to a global audience, generating interest in your brand and products. Risk Hedging: Similar to financial investments, relying solely on one channel is risky. Diversification in marketing reduces dependency on a single platform, offering a safety net in case of unexpected changes or platform alterations. Be Where Your Customers Are: Understand your customers' needs and preferences, adapting your marketing efforts to engage with them where they prefer to be, ensuring a personalized and attentive approach. Avoid Dependency on One Channel: Diversifying helps you tap into different customer segments and reduces the risk of being overly reliant on a single channel. This adaptability is crucial when facing unforeseen challenges. Engage Current and Attract New Customers: Diversification allows you to simultaneously engage existing customers and attract new ones through impactful and engaging content, strengthening brand loyalty. Gain Useful Data: Exploring various marketing strategies and channels provides valuable data that can guide future decisions, especially in uncertain marketplaces where assumptions may no longer hold. Platform Independence: Being present on multiple platforms ensures you have alternatives if one platform changes its policies or suspends your account, as we've seen with major platforms in the past. Resilience to Market Forces: Relying on a single channel exposes your business to market forces. Diversification makes your business more resilient, reducing vulnerability to shifts in technology or legislation. Pivot in a Crisis: Diversification enables you to pivot quickly in a crisis. Businesses that had already explored different channels were better positioned to adapt during global disruptions. Develop Greater Customer Loyalty: Engaging customers where they feel most comfortable and familiar builds loyalty across different market segments, leading to long-term customer relationships. Exposure from Different Angles: Diversified marketing exposes your products and services to potential customers through various touchpoints, increasing interest and curiosity about your offerings. Unexpected Client Acquisition: Diversification can lead to client acquisition from unexpected channels. Adapting to changing consumer behavior and marketing methods ensures you remain agile and responsive. Tips for Expanding Your DTC E-commerce Business Running a successful DTC store presents its challenges, but the right e-commerce strategies can help overcome common obstacles like low traffic, high bounce rates, and cart abandonment. Here’s how you can do it. Implement Shoppable Videos Incorporate shoppable videos into your eCommerce strategy to provide customers with an immersive product experience. Statistics show that 89% of consumers are influenced to purchase a product after watching a video. Shoppable videos can be created easily using tools like Videowise, allowing you to monetize videos by embedding them on your site or sharing them in marketing campaigns. Ava Estell, an all-natural skincare brand, achieved £743K in revenue with a 21% conversion rate by utilizing shoppable videos. Build Supply Chain Muscle Strengthen your supply chain by streamlining sourcing, manufacturing, transportation, and distribution processes. This optimization can help reduce costs, minimize waste, accelerate delivery times, manage risk, and facilitate business scalability. Tip: Develop a supply chain strategy, work with reliable partners, invest in technology, and prioritize sustainability to enhance your supply chain's efficiency. Zero and First-Party Data Use the power of customer data to drive your business decisions. Zero-party data, obtained directly from customers, and first-party data, collected through website interactions, can be instrumental in improving your DTC store's performance. Collect zero-party data by understanding customer interests and preferences. Use first-party data to track customer behaviors, such as cart abandonment rates and video engagement, to enhance the shopping experience. Invest in Owned Brick-and-Mortar Stores Despite the rise of online shopping, brick-and-mortar stores remain valuable for building personal connections with customers. Opening physical retail outlets can help you establish trust and offer a level of service that online retailers often can't match. In 2021, 46% of consumers expressed a preference for buying from brick-and-mortar stores. Consider Consumer Feedback Always prioritize customer feedback when making business decisions. Act on customer suggestions and demands, as they often indicate opportunities for growth. Engage with customers through various channels and gather insights. Use feedback to guide decisions, whether it's updating your website, introducing new products, or enhancing services. Ryan Mckenzie, Co-Founder & CMO of Tru Earth, emphasizes the importance of focusing on customer experience and investing in customer support to differentiate your DTC store. Brand Success Stories Here are two success stories that can serve as your guide to having a successful DTC brand Artsabers Origin: Created by a dedicated fan aiming to bring the Star Wars fantasy to life. Approach: Collaborated with high-quality manufacturers to offer affordable custom t-shirts and iconic Lightsabers. Idea: Introduced a unique video shopping experience where fans can explore fictional and real-world content, learn about sci-fi weapons, and make purchases directly within the eCommerce video player. Results: Achieved remarkable success with a 25% increase in conversions and recorded €1.1 million in sales. This demonstrates the power of immersive video experiences in boosting engagement and sales. Ava Estell Origin: Founded by Yaw Okyere to address the need for safe skincare products for people with darker skin tones. Approach: Customer-Centric Approach that prioritized customer education and engagement Idea: Embedded informative videos on their Shopify store to educate customers about products Results: A 21% increase in conversion rates and up to £743k in additional revenue. This showcases the effectiveness of using videos to inform and engage customers, leading to improved conversions and revenue. Strategies for Success Utilize Social Media to Drive DTC Sales To effectively utilize social media, start by identifying the platforms favored by your target audience. For instance, Instagram is a popular choice, with 83% of customers using it to discover new products and services. It's crucial to be present where your potential customers are active. Once your presence is established, optimize your social media strategy. Provide valuable content that resonates with your audience, such as user-generated videos showcasing your products. Additionally, consider collaborating with social media influencers to expand your reach. Micro and nano influencers, known for their relatability and strong community engagement, are often more cost-effective than larger influencers. Measure key performance indicators (KPIs) to assess the impact of influencer collaborations. A Strong Brand Identity Building a strong brand identity is essential for establishing trust and confidence among your target customers. Beyond just social media posts, your brand should evoke positive feelings and perceptions. Tools like Videowise can allow you to embed video reviews directly on your website, helping to convince potential shoppers to make purchases. Moreover, video storytelling can be a powerful way to create a brand narrative that resonates with your audience. Share your brand's story, values, and mission through video storytelling, reinforcing your brand identity and making it more relatable. Monitor and Optimize Marketing Data To understand your customer well, partner with digital marketing platforms that provide you with specific and clear customer data. Key metrics to track include sales revenue, conversion rates, cost per click, site traffic, and social media engagements. Continuously analyze these metrics to gain insights into what's working and what's not in your marketing strategies. Data-driven decision-making is critical to optimizing your marketing efforts and ensuring they align with your business goals. Explore Offline Marketing While DTC brands primarily operate online, it's essential not to overlook potential customers who aren't frequent Internet users. Some individuals still prefer traditional offline channels. Consider offline marketing methods such as placing posters at bus stops or deploying representatives to raise brand awareness. Remember that measuring offline marketing efforts' effectiveness can be challenging, but it's an investment that can help you reach diverse audiences. The Power of Email Marketing Email marketing remains a highly effective channel for DTC brands. It offers a substantial return on investment (ROI) and allows you to monitor customer engagement and behavior closely. Use email campaigns to provide personalized content and offers to your subscribers. Show genuine care for your customers by delivering value through email communication. Automated emails can play a significant role in nurturing leads and retaining customers. Customer loyalty is relatively easy to earn as a DTC business when you demonstrate how much you care about your customers' needs and preferences. Remember that email marketing is integral to the customer journey, and your efforts can lead to long-lasting relationships. Trends and Predictions in DTC As per the current industry standards, these are the top 5 trends that we can expect to grow in the DTC sector; Homeware The homeware category has witnessed a notable increase in online sales. This growth can be attributed to the increasing number of millennials buying homes and the growing acceptance of online furniture and appliance purchases due to their convenience. As more consumers realize the ease of online shopping for homeware, this category is expected to continue its upward trajectory. Fashion DTC fashion brands have revolutionized the fashion industry by offering high-quality clothing directly to consumers. Eliminating intermediaries helps these brands to experience a surge in web traffic. Notably, four out of the ten fastest-growing DTC eCommerce businesses belong to the apparel and footwear sector. Niche fashion businesses, such as Cubcoats specializing in kid's hoodies, have also recorded strong sales, indicating the diversification within this category. Health Technology Brands like Oura and WerLabs have attracted increased investor interest in recent years. This surge is not solely attributed to pandemic-related trends but also stems from the rapid growth of the $4.5 trillion wellness market. Millennials and Gen Z's heightened focus on personal wellness further contributes to expanding health-tech DTC eCommerce businesses. People prioritize convenient and cost-effective wellness solutions, so this category is poised for sustained growth. Home Fitness DTC eCommerce fitness brands, exemplified by Peloton, experienced a significant 66% increase in sales during the pandemic in 2020. The rise in remote work and freelancing worldwide has led to a preference for home workouts, with 66% of individuals favoring exercise at home. Factors such as gym membership costs, overcrowded gyms, and commuting inconveniences have discouraged some from traditional fitness clubs and gyms. Skincare The skincare category is expected to gain more popularity in the coming years. The emergence of products tailored to various skin tones, price ranges, and preferences has contributed to its growth. Online sales of skincare products have doubled as consumers increasingly opt for online purchases. The beauty market, in which skincare plays a significant role, is projected to be worth $128.7 billion by 2030. Pet Food Emerging DTC brands in the pet food category offer healthier and safer options than many traditional retailers. With the growing number of pet owners, more individuals are open to buying pet food and other pet-related essentials online for their convenience. In Conclusion The advantages of DTC marketing are undeniable, providing brands with the tools to forge a more personalized connection, gather valuable customer data, and adapt swiftly to changing consumer preferences. But success in the DTC landscape doesn't happen by chance. It requires a strategic approach, a commitment to SEO services to improve online visibility, and a well-crafted social media marketing strategy to engage with audiences effectively. Additionally, managing online brand reputation is paramount in the era of transparent customer reviews and social media scrutiny. As the DTC tech commerce services ecosystem evolves, staying ahead of the curve is essential. To thrive in this dynamic environment, consider partnering with experts specializing in DTC e-commerce services. With its wealth of experience in SEO services, social media marketing, and online brand reputation management, Saffron Edge can be your trusted ally on this transformative journey. Your customers are waiting, and Saffron Edge is here to help you make that direct connection. Let's embark on this journey together and redefine your brand's future in DTC marketing. Contact us today to learn more about our comprehensive DTC e-commerce services and DTC Performance marketing. Your brand's success awaits! ...
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7 Ways to Ace Your SEO in 2019
The way search engines like Google rank websites changes everyday. Yes, you heard that right! Apart from the big algorithm changes that Google announces once in a while, certain little tweaks and optimizations are made to their algorithms everyday to provide better results to searchers which you don’t even know about. And 2019 is going to be no different! With a few new algorithms introduced this year, Google will give more importance to those websites that adhere to those algorithms for sure in some time to come. Also, Google is focusing more on providing the best search experience to their searchers and if your website doesn’t, you will lose a few rankings on the SERPs for sure in the year to come. So, what should you do exactly to stay in the good books of Google and ace your Search Engine Optimization in 2019? This post is all about that and a lot more. So, let’s dive right in - Rankbrain is going to be more prominent than ever Rankbrain is one of the most prominent algorithms Google has released in recent years. But what exactly is it? It is a Google indexing algorithm backed up with AI which promotes/demotes websites on SERPs based on a certain set of factors. It is designed in a way to make sure that the best results come first for searchers searching for a specific query. Since it’s a machine learning algorithm, it automatically adjusts websites on the SERPs and doesn’t require human intervention at all and can make changes to SERP almost instantly. But what’s it based on? The algorithm was implemented to make sure users get the best search engine experience and the websites that they click on do that as well. So, websites that focused more on providing the best UX to visitors were rewarded by gaining Google’s top real estate, which gets the most clicks. Doing all of that is handled by Rankbrain now. So, you’ll have to keep Rankbrain in mind and optimize the UX of your entire website to provide a better experience to the people who stumble on your website after searching on Google. Doing this is going to be extremely important in 2019! But to ace Rankbrain, you need to know the exact factors on the basis of which it grades websites on the SERPs, which are - 1. Dwell Time Dwell time is the time a visitor spends on your website. Obviously, a visitor won’t stay on your web page or blog if the content is irrelevant to them or is of bad quality. So, providing quality content that aligns with searchers intent is of utmost importance to excel in the Rankbrain era. 2. Click-Through-Rate Rankbrain is designed to look closely at the CTR of each and every web page on the internet to give an appropriate ranking to them. For example, if a search engine result on the 6th position is getting a higher number of clicks than a result on the 3rd position for the same query, Rankbrain would notice and bump up the rankings of the result on the 6th position. But since dwell time is a factor as well, just getting a higher number of clicks on your web pages will not be enough, you will have to provide the kind of content that makes users stay as well to improve your search engine rankings. Take care of these two factors for all your webpages & blogs and Rankbrain would do the rest. Go Mobile or go obsolete Google cares about their searchers. And apparently, a majority of them search for queries from their mobile devices. Mobile searchers have long surpassed desktop searchers and Google wants to provide them with the best user experience. For the same, Google rolled out the Mobile-first indexing algorithm in March this year which changed how the algorithm accessed websites forever. Under this new algorithm, Google crawlers would prefer a mobile website first for indexation and ranking to primarily provide better results to their mobile searchers. So, having a mobile website that properly supports your desktop website is not something you can procrastinate anymore, it has become an absolute necessity under this new algorithm. Google prefers having a mobile responsive website over other methods of going mobile because of its ease. But having a mobile website is not enough, you’ll have to provide a great user experience on your mobile website as well (remember, Rankbrain) to make an impact in 2019. Focus on working on the speed of your website According to a study performed by Google themselves, a website’s speed is the greatest factor that determines if a website’s UX is satisfactory or not. And since, Google has been lately focusing so much on providing a great user experience to all their users, they rolled out an update that ranked websites based on this sole factor. They called it the ‘Speed Update’. While the factor is not the heaviest, focusing on optimizing the speed of your website will certainly give you a advantage and it would greatly improve the UX of your website, which is always a nice thing to do under the watch of Rankbrain. To make your site load faster, you can get rid of heavy elements on your website or minify or combine scripts. Or else, you can use Google’s own tool to check and optimize the speed on your desktop and mobile website - PageSpeed Insights. This tool will tell you everything there is you can do to make your website load faster and perform better in SERPs. The increasing relevance of unlinked Brand mentions Google has long been solely dependant on backlinks for determining the authority of websites over the web. The general idea is, the more backlinks a website has, higher will be it’s authority in the eyes of Google, and higher it will be placed in SERPs. And it has been like this since the inception of Google. But all of this is going to change. The way your brand is mentioned over the web on social media conversations, blog posts, forums and any other medium is closely looked over by Google. It takes into account the tone, intent and context of each brand mention over the web to ascertain if it’s positive or negative and the way people talk about you over the web will certainly affect your ranking in 2019. ‘Unlinked brand mentions’ over the web are gaining relevance each day and it calls for social listening. You’ll have to jump on each and every conversation happening about your brand over the web and make sure it’s in positive light to maintain your brand reputation in the eyes of Google. Google’s Gary Illyes mentioned it himself. So, if you’re not actively monitoring your brand mentions over the web and making sure they add to the overall reputation of your brand, you will struggle to increase your search engine rankings is some time to come. To monitor your brand mentions over the web, you can make use of tools like ‘Awario’ and ‘Brand Mentions’ that would help you do just that with ease! Searchers are consuming more video content than ever People preferring to consume video content over any other type of content is nothing new and has long been a trend that’s still going strong. If you are looking to gain a lot of engagement from your audience on your website, social media or blogs, then video is certainly your best bet because people simply prefer video over anything else. Obviously, quickly watching a video about something is always easier than reading a ton of content and that’s why video is still so popular. In this world, where every brand is throwing up a lot of content on the web and is seeking attention from their audience, people have found a better way to consume content on a daily basis that quickly gives them the facts and is engaging to consume. So, if you’re not making use of Video, you're definitely missing out on a lot of engagement and additional SEO benefits. I would suggest you quickly start creating some video content for your brand and publish it on Youtube. Since, Youtube is owned by Google, you can also enjoy some obvious search engine benefits in the time to come. Target people searching for answers on Google Assistant Optimizing your content for voice searchers is currently a hot topic. And it has all the reasons to be. Voice searches globally are on a tremendous rise and you’ll be missing out if you don’t write content that targets those users head-on. But how do you target them? Here are 3 ways that would help Google Assistant pick your content over others when it comes to answering voice search queries put up by searchers - You need to be on the top 3 results for Google Assistant to even consider picking up your content. If your content appears in the featured snippet, your chances to get picked up by the Google Assistant increases by folds. Here’s how you can get featured in the featured snippet. Answer your own questions in your content. Usually, most of the voice queries start with a question and to answer that question, Google Assistant usually picks up the content that revolves around that exact question. So, try answering the most basic questions people might have around your focused keyword. To know more about what else you can do to target those voice searchers, Forbes compiled a list of best advices from 15 members of the Forbes Communications Council… do have a look at it. Quality content and backlinks are still important While the above suggested ways are vital to ace your SEO in 2019, don’t forget that content and backlinks are still the top ranking factors that matter the most to Google. With Google placing more importance on the user experience that each search engine result provides to users (Rankbrain), I think creating quality content should be your top priority for acing SEO In 2019. If your content provides real value to your target audience, they will be inclined more to read it all. And when they dwell more on your content, Google will notice via Rankbrain that you have a knack of providing quality content to all your users. Which I think is the point of SEO in general. Link building and providing quality content goes hand-in-hand as only when people love your content, they’ll want to share that content on their own blogs and within their own social circles, expanding the reach of your content and building some valuable backlinks along the way. If you continue to provide awesome content to your audience, the biggies in your industry will notice and would want to link to you too. That’s the essence of natural link building right there, and it’s not going to lose value in 2019 and beyond! If you are looking to approach your SEO in 2019 with a bang, the above mentioned ways are the perfect way to do it. But before you start implementing them, keep this in mind, Rankbrain ranks website keeping in mind the response of your audience to your content. If they bounce even before your site loads completely, Rankbrain would not even let you reach the first page of Google, let alone acing it. It’s a machine learning algorithm that does it all for Google and looks at the UX signals of your website really closely to award rankings. And it’s not easy to game Rankbrain because of it’s self-learning mechanism. You’ll have to provide quality content to your audience to get your SEO ball rolling in 2019 and there’s no escaping it now! Having said that, I hope the above mentioned ways will help you greatly in improving your website’s overall SEO potential! Being a SEO agency ourselves, we’ll rely greatly on these tactics as well to provide the best services to all our clients. If you think there are other ways (I know there are) that have helped you greatly in achieving SEO success lately and you're confident that they’ll be of equal importance in 2019 when it comes to increasing a website’s search engine rankings, do let us know about them in the comments. ...
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