The Near Memo Shopify benchmarks SMB CAC; Reviews tell the story of Walmarts inventory woes; Twitter & WhatsApp now offering local business pages
With ever increasing ad costs SMBs need to understand customer acquisition costs and lifetime values whether you are a SAAS company or not. This survey of small e-commerce and small business firms shows they spent approximately $9K on average on marketing annually. Average CAC was just under $60.
Reviews can provide an independent look at management issues and consumer trends at large multi-location chains. This 'proof of concept' approach explores Walmart's inventory woes through the lens of local store reviews.
Twitter via their Professional Profiles is offering location based businesses a GMB like page. And it turns out, so is WhatsApp. WhatsApp is likely to add commerce and transactional capabilities and our read is that, particularly internationally, is likely to succeed. Twitter, with a long history of failed features beyond the basics, on the other hand is likely not to.
The Near Memo is a weekly conversation about Search, Social, and Commerce: What happened, why it matters, and the implications for local businesses and national brands.
Near Memo Ep 33
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