S3 E10: “Most Retention Marketing Destroys Value” and other Retention Hot Takes with Alex G
Jul 19, 2023
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Retention and growth wizard in ecommerce, Alex Greifeld, discusses measuring retention, common misconceptions, and growing ecommerce without typical hacks and 'best practices'
Retention marketing should focus on long-term value and lifting the baseline retention rate.
Marketers should prioritize best-selling products and collaborate with merchandising teams to optimize selection and boost conversion rates.
Deep dives
The importance of product in marketing and the need to test different products
Product is a key factor in the success of marketing efforts, as best-selling products drive higher conversion rates and revenue. It is essential to test different products to identify what resonates with customers and performs well in paid ads.
The impact of retention marketing and the misconception around its effectiveness
Retention marketing is often measured incorrectly, leading to a misunderstanding of its true impact. Many brands focus on last-click attribution and short-term objectives, neglecting the true retention and lifetime value potential of their customers. Successful retention marketing should lift the baseline retention rate and consider the long-term value of customers.
The relationship between merchandising and marketing
Merchandising plays a crucial role in marketing by identifying best-selling products and guiding marketing efforts towards promoting those products. Marketers should work closely with merchandising teams to understand customer preferences, optimize product selection, and leverage best sellers to improve conversion rates.
Key strategies for fashion marketing
In fashion marketing, product reigns supreme and should be the primary focus. Best sellers should be highlighted in high-cost channels to maximize conversion rates. Collections pages often outperform landing pages. Fashion marketing requires a good understanding of customer behavior and exposure to a broad assortment of products to capture interest and drive sales.
In the tenth episode of Season Three, Cody and Eli are joined by Alex Greifeld, a retention and growth wizard in the world of ecommerce. They chatted all about measuring retention, avoiding common retention misconceptions, and growing an ecommerce business without the usual hacks and "best practices"
Alex is also the writer behind "No Best Practices," a phenomenal resource for marketers that will be linked below.
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