In this episode of Chew On This, Ron, Ash, and Ankit focus on strategies for Black Friday success, highlighting the importance of starting early and building brand awareness throughout the year. They discuss how they learned from a challenging 2023 with their supplements brand Obvi, emphasizing the need to be proactive and adaptable, especially in light of external market factors like consumer budget constraints and marketing channel shifts. They also delve into specific tactics for retention and email marketing, emphasizing segmentation and personalization to maximize impact.
🏆 Start your Black Friday sales early. Capitalize on the holiday shopping demand that starts in October, rather than waiting for the peak days in November.
📈 Focus on building brand awareness. Don’t rely solely on paid ads. Explore organic content creation and community engagement to drive genuine interest in your brand.
📦 Experiment with creative product launches and free gifts. Offer exclusive products during the sale period and experiment with different gift tiers to encourage repeat purchases.
📧 Prioritize segmented email marketing. Customize your messaging to different customer cohorts and leverage email segmentation to improve deliverability and open rates.
💸 Maintain profitability over short-term gains. Focus on sustainable growth and resist the temptation to chase short-term revenue at the expense of long-term health.
0:00 - Intro
1:07 - AOV for first order profitability
2:00 - Marketing strategy reboot
4:31 - Brand awareness and improving first-time order profitability
5:20 - 3 core pillars for improving CAC
10:30 - From negative cash conversion cycle to positive cash flow
14:09 - Doubling retail distribution
16:00 - Tracking organic presence and social listening
20:45 - Brand messaging and evergreen campaigns for acquisition
21:51 - Expanding Black Friday sales window
22:33 - Understanding consumer mindset during holiday season
24:31 - Black Friday product innovation and preparation
27:20 - Creating excitement around product launches and promotions
29:55 - Community engagement for driving sales
31:02 - Free gifts and retention strategies for repeat purchases
33:03 - Email deliverability and targeted messaging in marketing
34:21 - SMS as a key revenue driver
38:41 - Final chews
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Ron Shah - https://twitter.com/obviceo
Ash Melwani - https://twitter.com/ashvinmelwani
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