E-commerce Notes: Volume 1
We’ve been reading blogs, talking to business owners, applying some of these principals ourselves and we felt it was unfair to keep all of this information locked up. That’s why we are starting a new monthly series called: E-commerce Notes - tactics from the front lines.
THIS IS VOLUME 1 🔥
Your website homepage
How many images do you have on your homepage? 3, 5, 7? In a carousel, right?
Removing your image slider completely. Do this 👇
Data suggests that carousels typically create less engagement above the fold and that 90% of carousel interaction happens on the first slide.
Multiple messages also distract from the core goal of what you’re selling. selling toilet paper.
Humans prefer simple direction—the easier you make the initial step, the greater chance your visitors will take action and follow through to the end.
If these pieces of content are important for your brand, make them cross-sections on your homepage.
Placement on the page should be based on their importance (higher up the page = more important).
Lesson: Be intentional with the placements on your homepage, your prospects are taking notice.
Bonus: Keep margin + repeat rate in mind when choosing placements on the homepage. We want to have a healthy margin for the entry point product as many of your customers will be coming from a paid advertising source.
The Audience Funnel
(from Alex Lieberman’s Tweet)
Every company is an audience company...🤯 + ❤️
Audience Types 👇
Rented = Top of funnel. Allows for mass awareness, low minimum scope & is key for developing a relationship with your audience.
𝗣𝗿𝗼𝘀: High shareability + discoverability
𝗖𝗼𝗻𝘀: You don't own the audience, a platform does
Examples: FB, IG, TikTok, Twitch, YouTube, Google
Owned = The opt-in audience, where you to build a deeper, more intimate relationship.
𝗣𝗿𝗼𝘀: You own the relationship with your audience.
𝗖𝗼𝗻𝘀: Low shareability + discoverability
Examples: Newsletters, Podcasts, Virtual events
Monetized = Your highest intent audience, where you extract value from your audience directly.
𝗣𝗿𝗼𝘀: Extends LTV of best customers
𝗖𝗼𝗻𝘀: Done through existing owned or rented audiences, hard to pull off.
Examples: Paid newsletter, Paid web/app subscription, Membership, Commerce
1. Rented Audiences allow you to use the power of platforms (size, shareability, discovery) to kick-off a relationship with your audience.
2. Don’t only count on Rented Audiences.
You must become great at building large, rented audience & moving that audience down the funnel because you don’t own them, the platform does.
3. Owned Audiences take nurturing (time), but when done properly the upside is immense.
Just look at Morning Brew. They built owned audience from scratch. ~ 2+ million email addresses later, and they are expanding in multiple directions.
4. The only way to monetize either type of audience is by solving a problem. How to do it over and over again is → serve great content or sell an amazing product that feels unique to you.
Serving an ad to 1M people doesn’t matter if you have no sales, trust me, I’ve seen it.
Lesson: Be very cognizant of what part of the audience funnel you are serving and how you can move those prospects into a new phase. (Hint - it’s through value to delivery...the sooner the better)
Bonus: The stage after initial monetization is repeated monetization. Can you get your customers to come back. Prevailing wisdom is to try to get a new customer into a subscription right away.
If they do that, they are mainly trying to get a better cost and will discontinue almost immediately unless they a) forget b) like the product
Why not, deliver a post delivery series, asking if the customers has received the core benefits and would enjoy feeling this great?
That’s it for the first edition of e-comm notes. We hope it was valuable to you! Let us know if you have any feedback and what we can do in the future to deliver more value to your day.
See you next month! ✌️