Why Having A Good Product Is Not Enough To Stand Against eCommerce Giants
Your brand mission determines your value. However, the challenge is getting your message effectively across your target audience. Every entrepreneur would agree that customers are the lifeline of any business, and getting new leads means a higher cost of acquisition.
Are the retainer clients enough to keep your brand thrive and not just survive in the dog-eat-dog eCommerce platforms?
You’ve taken every route to dominate the marketplace but, it seems as if the money keeps leaving the table. Some traditional business owners think that a good product or service is enough to keep up with the cut-throat competition.
Fact is, it even takes more than just having a good business acumen to stay afloat against the hard knocks in the eCommerce industry.
Success requires having the right tools, platform, and connections to make your customers like, trust and buy from you.
In this episode, we’ll cover:
- How your brand can create a life-changing impact and gain a huge number of loyal customers
- Why lifetime customer value optimization is important
- Why having retainer clients is less costly than getting new customers
- How to get the right platform for your ecommerce business
- How to set up a customer-friendly website that attracts potential clients
- Why is it important to connect with the right agency to help your company scale up
I talked to Shane Ball, CEO of the clothing brand Stay Wear. He recounted that he would always burn CDs for his girlfriend, now his wife. And while listening to the songs, most of them have the word “stay”. In 2014, he launched his clothing business with the mission of changing the stigma of the “misunderstood” skaters.
When people started to connect ‘stay’ to suicide prevention, it led him to create a brand that resonates with the darkest ordeals and connects to every person living with mental health problems. His goal evolved into an advocacy of conveying the right message to raise mental health awareness.
Stay Wear has helped hundreds of people battling with emotional, psychological and social anxieties start a conversation, find hope, and regain life’s purpose through its statement apparel.
How Does Your Brand Create a Global Impact?
While some good statements become understatements, your company’s mission is the pointer to achieving your long-term goals. It is the reason why you started your business in the first place. Without vision, you can’t create a brand that is not only successful but also significant. A company that empathizes with the challenges that most people go through is a brand that never goes out of style.
“We want to change the stigma that people can’t talk about suicide prevention.”, Shane said.
A great campaign is important to increase brand recognition. By having the right missions in place, it helps identify and connect your brand with the target audience and attract the right people to join your community.
A brand statement steers your ship and keeps all your team moving in the same direction while a great one creates a positive change.
What Are The Qualities of a Sales-driven Website?
Your digital platform has the power to build a brand, and the potential to take it down. Your website can make or break your ROI. Shane mentioned the right ingredients of a sales-driven website:
- Make it mobile-friendly– People are mostly on their smartphones than they are on their laptops or desktops. Shane claimed that their mobile responsive website has contributed to 85% of their sales. A mobile-optimized site is proven to increase lead generation, boost user experience, and improve online presence.
- Aesthetics is the key– Consumers are attracted to eye-catching things may it be a stock photo or a digital image. Images are effective connectors because they are mediums of storytelling that evoke strong emotions or ideas. However choosing the right stock images is important to come up with a unique brand identity and increase audience retention.
- The power of social proof- Shane mentioned that the team focuses on building their brand credibility because it shows the legitimacy of their brand. Stay Wear has established a strong rapport with a community of like-minded people who have the same advocacies for mental health awareness and suicide prevention. Social proof increases brand recognition and authority in the industry.
Why Is Customer Value Important?
Shane shared how the lack of marketing skills back in 2014 and poor AB testing affected their sales. He claimed that among all the digitals platforms, Instagram generated 60% of their sales.
Shane mentioned that getting new customers is more costly than keeping the existing ones, so he keeps and consolidates the right ones by focusing and improving their email flows. “ We integrate Klaviyo with Shopify. In 2020, we started to scale up and it was one of the significant milestones in our journey as a clothing brand.”
Why Is It Important To Leverage With The Right Agency For Digital Marketing Strategies?
“I wish we could have started sooner. We could have grown a lot.”
Shane does not undervalue the importance of getting the right people to help scale up a business.
The digital marketing arena is not for the faint-hearted. When they started to manage their ads and it wasn’t working, he shifted gears. Shane hired an agency with just a couple of dollars left in his account.
He shared that there was a time where his busy schedule already took a toll on him and his family. So he encourages other business owners to:
- Look at the circle of contacts and connections and start to learn more
- Understand business as much as you can
- Understand that growth takes time
Choosing the right agency will help you scale up your business with less time and muscle.