E149: 🎓Mentoring Moments #3 | eCommerce Loyalty vs Membership vs Referrals, Balancing B2B vs DTC, Subscriptions on Shopify and More!
UNLOCKING THE MYSTERIES OF ECOMMERCE SUCCESS: INSIGHTS FROM A DIGITAL COMMERCE SPECIALIST
In the ever-evolving world of eCommerce, finding success requires more than just having a good product. It requires understanding the nuances of digital retail, customer loyalty and how to effectively use technology to drive sales and keep customers coming back. Recently Jason Greenwood, a renowned operational digital commerce specialist, shared his insights on these topics and more in an engaging discussion designed to mentor those looking to thrive in the digital retail space.
THE ESSENCE OF ECOMMERCE MASTERY
Jason kicked things off by clarifying a common misconception: he's not a digital marketer but an expert in the technical and operational aspects of digital commerce. This distinction is crucial. Success in eCommerce isn't just about marketing. It's about understanding the entire ecosystem, from technology implementation and process design to data engineering and solution crafting. For those aspiring to make their mark, diving deep into these areas can provide a competitive edge.
LEVERAGING TECHNOLOGY FOR MARKETING
Today, marketing and technology are inseparable. Tools like Customer Data Platforms (CDPs) and marketing automation platforms have transformed how businesses engage with customers. Jason emphasized the importance of understanding these technologies to create more personalized and effective marketing campaigns. This technology-driven approach can significantly impact customer loyalty and retention, which are essential for surviving in competitive eCommerce landscapes.
FOSTERING LOYALTY IN A FICKLE MARKET
Speaking of loyalty, Jason tackled a challenging question about the effectiveness of Shopify plans on customer retention. His take? The real benefits of upgrading your Shopify plan don't necessarily lie in loyalty-building features but in enhanced technical capabilities, such as API connectivity and customization options. For truly impactful loyalty programs, businesses need to think outside the box and offer unique value that goes beyond basic spend-and-earn schemes. This could mean focusing on membership models over traditional loyalty programs, taking cues from giants like Amazon Prime.
THE DELICATE DANCE OF D2C AND B2B
One of the trickiest aspects of eCommerce is balancing direct-to-consumer (D2C) sales with business-to-business (B2B) relationships. Jason shared insights from brands that have navigated this challenge successfully, like Dermalogica which has managed to support both its DTC growth and its network of independent skin care professionals. The key lies in clear communication, strategic discounting, and sometimes, creating exclusive product ranges for different sales channels.
BUILDING A SUCCESSFUL SUBSCRIPTION MODEL
Subscriptions can be a goldmine for eCommerce businesses but they're not without their challenges. Jason pointed out that the key to a successful subscription model lies in flexibility and user experience. Tools like Bold Subscriptions offer the functionality needed, but businesses must think through every possible customer interaction, from adding new products to an existing subscription to pausing or canceling services.
CONCLUSION
eCommerce success isn't just about selling online. It's about understanding the intricacies of digital retail, from technology and operation to customer loyalty and subscription models. Jason Greenwood's insights shed light on these complex topics, offering valuable guidance for anyone looking to thrive in the eCommerce world. Whether you're refining your marketing strategy, enhancing customer loyalty or navigating the challenges of D2C and B2B sales, keeping these lessons in mind can help you build a more resilient and successful eCommerce business.
To learn more, check out the related THE ECOMMERCE EDGE Podcast episode below: