S5 E9: Listener Mailbag: High Ticket Items, Landing Page Metrics, & More
Oct 4, 2023
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The podcast discusses topics such as managing paid media for high ticket items, scaling a brand into the millions, improving landing page metrics, and understanding cannibalization. They also talk about hiring new employees, the benefits of a banking line of credit, and the importance of CPA and ROAS. Additionally, they cover targeting the wrong audience, handling customer feedback and returns.
48:07
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Quick takeaways
Constantly evolve and adapt in the D2C business by trying new strategies and hero products.
To measure the impact of digital ad spend on brick-and-mortar stores, run A/B tests, analyze store-specific data, and conduct customer surveys.
Review and improve landing pages using tools like Clarity or Hotjar, analyzing user behavior data to enhance user experience and drive conversions.
Deep dives
Importance of Trying New Things for Success
The speaker emphasizes the importance of trying new things and not getting stuck in a single strategy. They suggest that if ads or platforms are not working, it is crucial to experiment with different approaches or even consider new hero products. The speaker highlights the need to constantly evolve and adapt, as well as the importance of limited supply and sharing real perspectives on the world of direct-to-consumer (D2C) business.
Impact of Digital Spend on Brick and Mortar Businesses
The discussion revolves around the challenge omnichannel brands face in measuring the impact of digital spend on their brick and mortar stores, especially in CPG and grocery industries. The complexity arises because various factors like weather, events, and customer behavior can influence the data. While there is no definitive answer, the experts suggest running A/B tests, analyzing store-specific data, and conducting customer surveys to gain insights into the relationship between digital advertising and in-store sales.
Improving Landing Pages Using User Behavior Insights
The experts discuss the importance of reviewing landing pages and improving them based on user behavior insights. They recommend using tools like Clarity or Hotjar to analyze user heat maps, scroll depth maps, user session recordings, dead clicks, and rage clicks. By observing where users spend more time, what elements catch their attention, and identifying areas of confusion, marketers can make data-driven iterations to enhance the user experience and drive conversions on landing pages.
Considerations for Scaling a Brand at Different Revenue Milestones
When scaling a brand to $1 million, $5 million, or $10 million in revenue, it is essential to focus on finding scalable acquisition channels and optimizing metrics like cost per acquisition (CPA) and return on ad spend (ROAS). At the initial phase, closely monitoring CPA and reaching a stable $5k revenue per day is crucial. As the revenue grows, factors like customer retention and return rates become more important. Brands should iterate and launch new products based on market demand while staying laser-focused on the key metrics that drive growth.
Balancing Digital Spend and Brick-and-Mortar Businesses
The discussion explores the challenge of marketers in balancing digital ad spend and brick-and-mortar businesses, particularly in CPG and grocery industries. The experts acknowledge that measuring the precise impact is difficult due to various influencing factors, including weather, events, and customer behavior. They emphasize the need to continuously monitor data and customer preferences, conduct A/B tests, and explore innovative approaches like branding and social proof to strike an effective balance between digital and physical retail channels.
Why is it next to impossible to understand cannibalization? And we aren't talking about the fun kind. Don't worry—you're not the only one.
Nik and Moiz are hitting up the Slack chat to answer a few of your burning DTC questions.
First, Moiz takes a dive into the multiverse, explaining what he would have done differently with Native Deodorant had he launched in 2023.
Then the guys explain how to manage paid media for higher ticket items—and what’s Leo Dicaprio got to do with it? Hint: All you have to do is sell me this pen.
Plus, the guys reveal their playbook for scaling a brand into the millions and explain the four main things you absolutely must do to improve the metrics of your landing page.
Smart operators know that actively managing cash flow is a real unlock to increase profits. Highbeam is a banking platform built to help brands do just this. Learn how Highbeam automatically saves brands thousands of dollars through its high-yield accounts, lines of credit, and cash-back cards with a personalized savings estimate at highbeam.co/limitedsupply
And if you’re looking for an instant stream of on-demand DTC gold, check out the Limited Supply Slack Channel for Nik and Moiz’s most unfiltered, uncensored thoughts.
