Thursday, February 15

The 5 things in DTC you need to know today

February 15, 2024

🗣 Want to Reach an Audience of 20,000 DTC Brands? Start Here…

🚨 In today’s newsletter đźš¨

  • Boosting eCommerce Revenues: 20 Data-Driven Discount Code Tactics

  • 5 Ways Online Stores Can Leverage Human Touch in 2024

  • Retailers Bet Big on AI and AR to Transform the Online Shopping Landscape

Let’s get into it👇

ECOMMERCE
#1 - Boosting eCommerce Revenues: 20 Data-Driven Discount Code Tactics

The Rundown: Strategically planned promotional codes aligned with business objectives and optimized through testing can significantly lift key ecommerce metrics.

The details:

  • Targeting high-value customers incentivizes loyalty and repeat purchases over their lifetime.

  • Timing code launches around events, seasons and buying stages creates urgency and excitement.

  • Continual testing identifies the most effective structures, caps and qualifications for future planning.

  • First-order discounts encourage signups and referrals while post-purchase codes build goodwill.

  • Sitewide and seasonal codes as well as minimum-spend thresholds spur larger average orders.

Why it matters: Carefully designed discount codes increase conversion rates, order values, and customer lifetime value by focused customer targeting and optimization based on key data insights over time.

MARKETERHIRE
#2 - Revolutionize Your Marketing with MarketerHire

What do Allbirds, Quip, Hello Fresh, and Ruggable have in common? They’ve all hired top-tier marketers from MarketerHire. Why?

  • Expert marketers pre-vetted for proven expertise

  • Quick, efficient matching - get started in 48 hours

With 5,000+ happy customers and over 30,000+ successful matches, what are you waiting for?

GROWTH
#3 - 5 Ways Online Stores Can Leverage Human Touch in 2024

Online shopping has hit turbulence. Growth is stalling as consumers long for the tangible feeling of in-person purchases. What’s a retailer to do in 2024? Lean into the humans behind the screens.

Step Into the Future

  1. Get friendly with AI. The latest retail tech tools can actually enhance intimacy if properly implemented. Think personalized product recommendations or smooth conversational chatbots. But ensure a human is still overseeing things.

  2. Encourage mindful consumption. With endless options a click away, it’s easy for shoppers to overbuy. Appeal to eco-conscious patrons through sustainability initiatives, donations, or reuse programs.

  3. Focus on community. Turn strangers into brand ambassadors by hosting virtual or in-person events to foster a tribe mentality. Loyalty is the new acquisition.

  4. Surprise randomly. Stand out by taking a cue from artisanal sellers on Etsy. Send a handwritten “thank you” or local treat along with purchases to show customers you care.

The Takeaway

As algorithms increasingly run the show, the brands putting heart back into the buying experience will earn devoted fans. Can you compete on care and creativity?

🗣 Want to Reach an Audience of 20,000 DTC Brands? Start Here…

RESOURCES
#4 - Things Worth Checking Out

AI - 3 AI tools for brand monitoring that you need to check out

AMAZON - Merchants returns create consumer bargain-shopping opportunity

REPORT - New research reveals payment optimization can increase revenue by 30%

NEWS - Wish sells at a bargain as consumers seek more reliable ecommerce

 STOCK - 1 ecommerce stock that has created millionaires and is poised to make more

RETAIL
#5 - Retailers Bet Big on AI and AR to Transform the Online Shopping Landscape

The Rundown: Major retailers are aggressively adopting emerging technologies like AR and AI to overhaul the online shopping experience and boost sales.

The details:

  • Wayfair created an AI app letting users visualize furniture in 3D to evaluate fit and style.

  • Kroger is utilizing generative AI to optimize third-party seller listings with enhanced product info.

  • Amazon is testing an AI feature to answer common customer product questions by summarizing reviews and listings.

  • Amazon projects generative AI initiatives driving tens of billions in revenue by reinventing customer experiences.

  • Retailers want convenient, personalized, and social shopping experiences to engage today's consumer.

Why it matters: Immersive and interactive technologies like AI and AR are becoming retail's competitive battleground to attract customers and accelerate sales growth. A dramatically different online shopping landscape could soon emerge as retailers make big bets.

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