There is no escaping rising acquisition costs in e-commerce. With third-party cookies being fazed out and advertising conversion rates plummeting, 2022 has brought a real focus for building your brand and building stronger relationships with customers.
Over the past few years, brands have seen great immediate results using social and PPC ads. Due to third-party cookies being phased out and more of an emphasis being made on consumer privacy, personalisation is becoming a lot harder. As it becomes harder brands will eventually drop personalisation and start to blanket market consumers… Which won’t work.
Here’s how you can combat rising acquisition costs in 2022:
Invest in your brand
There are a number of different ways companies can invest in their brand. This should be balanced between performance marketing and brand marketing. The split between performance marketing and brand marketing will depend on your industry and products. With that being said, the split is something you’ll have to work out by reviewing your analytics and past data.
Pushing organic brand growth
Social media, blogs, podcasts and other organic content are key elements to building a strong brand with returning and engaged customers. This isn’t just a prompt to create content for the sake of it. Sit down with your marketing team and work out what the best course of action is for creating engaging, meaningful and consistent content.
As mentioned previously, gathering data with analytics, social and site are some of the best ways to get an idea as to where to invest in your brand. Another great way to gather data and really engage with your customers is by using consumer surveys. You can use feedback to accelerate brand growth and find out the areas where your consumers feel that your brand is lacking.
Keep records of analytics on your brand campaigns. Check organic keywords, key traffic sources, backlinks and any other key metrics that you use as KPIs. Use your findings to project for the future and see how your next campaigns will improve these metrics.
Try new platforms
It’s time to diversify, get your marketing team to throw themselves in at the deep end and start to experiment with using new channels.
Here are some new platforms to try:
TikTok, Facebook, Instagram are very good platforms to start live streaming on to generate sales and build your brand. Especially for cosmetics, skincare and nutrition brands. No matter what your brand is, we’re sure you can get creative and create a live streaming shopping experience that your audience will love and buy from.
For performance-driven marketing, a great way to cut through the noise and really get through to consumers is by using SMS marketing. There are numerous reports and studies that have been carried out, showing that there’s a strong need for SMS marketing by consumers. SMS open rates are as high as 98% compared to only 20% of all emails.
Some of the best brands in the world have a core community of customers that they can speak to. Some of the most popular platforms to grow a community on at the moment are Facebook groups and Discord.
Discord is great because you can have your own channels, rooms and it gives you the opportunity to find out more and connect with your customers on a deeper level.
When planning on using any of the above platforms for your brand, it’s important to go and try those platforms out as yourself. Use platforms, communities and any other platforms as a consumer, this way you can get a better vision for what you need to be doing and what content works best. When doing anything online to promote your brand, the creative will always be the variable.
To round up, be personable, build communities for your brand, connect with your customers on a more personal level and experiment with new shopping experiences.
All of the above will be so important for your brand going forward, those who don’t adapt and start to adopt new marketing techniques may find themselves left behind.
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