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- The DTC Insider - Weekly Newsletter - 03/05 - Issue #4
The DTC Insider - Weekly Newsletter - 03/05 - Issue #4
How Working By Projects Can Help Your Brand Grow
Welcome to this issue of The DTC Insider newsletter. π
We'll send you weekly emails, every Wednesday, trying our best to deliver great value to your inbox.
In this newsletter, you'll find:
π Location, Location, Location
π Eight Viral Beauty Products And Its Impact On Revenue And Sell-Through Rate
π How Working By Projects Can Help Your Brand Grow
π The Power of Optimization: From Websites to Mindsets and Everything in Between
Location, Location, Location
If you're one of those who don't like change...skip this one π
A few days ago, Jon Loomer discovered a significant change to location targeting that I wanted to share with you.
When creating a new ad set, there is now only one option for location targeting: "People living in or recently in this location".
Previously, there were three other options for location targeting: "People Living In," "People Recently In," and "People Traveling In".
Now, these options are no longer available, and there is no drop-down menu to choose from.
This change can have a big impact on certain industries and scenarios.
For example, state laws may restrict the promotion of certain products like gambling or alcohol in certain states. With the new location targeting option, you can only reach people who live in states that qualify.
Similarly, local service businesses like roofers, flooring companies, plumbers, and landscapers, as well as politics, schools, and childcare providers, can only target potential customers who own a home in the local area. Visitors to the area won't be potential customers.
I haven't seen any exceptions to this new location-targeting approach for objective or optimization.
Whenever an ad set is duplicated or created, it automatically uses this new method.
Additionally, Meta's documentation no longer mentions the other three location targeting options.
While Meta hasn't publicly announced this change (yet), it appears that any ad set using the old location targeting methods will continue to run (for now).
However, any new ad set will be limited to "Living in or recently in" targeting.
SPONSOR
Eight Viral Beauty Products And Its Impact On Revenue And Sell-Through Rate
Have you ever bought something you saw on Tik Tok?
Yeah, us too. π
Here's a look into eight viral beauty products and its impact on revenue and sell-through rate provided by our partners at Particl.
Interested in taking a look at what Particl can do for you?
How Working By Projects Can Help Your Brand Grow
If you want to make REAL progress in your business, you need to focus on what matters.
The problem is that if you focus on too many things at once, you're likely not gonna make progress.
So, start by taking a break and forget about your ad account and email marketing efforts for a moment...
And follow this 4-step framework:
π― #1 - GOALS
I'm sorry. Sometimes this is boring, but man...is it necessary to make progress.
Think about the high-level goals for your business.
Not sure about your business goals? Well, start there.
π€ Is it revenue-related?
π€ International expansion?
π€ New product verticals?
βοΈ #2 - CHOOSE YOUR BATTLES
Unless you have a really big & powerful army, you'll need to choose your battles wisely.
Then try to assess what you need to work on to move the needle...
Choose one or two at a time.
It's the 20% of effort (aka focus) that will produce 80% of the results.
A few examples of projects/battles are:
Increasing AOV
Increasing LTV
Decreasing CAC
Increasing gross margins
Increasing brand awareness
Improving reputation
Not all of these are relevant to every brand, so choose the ones with the highest priority for your business.
β οΈ #3 - IDENTIFY BLOCKERS
Ask yourself and your team the following questions for each of these projects:
Where are the main blockers/bottlenecks that are preventing this project (ie. increasing AOV) from succeeding?
What are the best channels to accomplish that?
Do we have the capacity, or the right person/team working on it?
π¬ #4 - TAKE ACTION
Otherwise, the previous steps don't make sense.
Now, you're in a position to lay out an action plan, including the high-level tasks you'll need to work on to move the needle.
For example, let's say you choose Increasing AOV.
Main blockers/bottlenecks: we don't offer bundles or any in-store upsell before visitors complete the purchase.
Best channels to accomplish that:
The store: using (or not) third-party tools to offer upsells
Email: through a post-purchase sequence
Do we have the capacity/right team to work on it? Yes
Action plan:
Get a Shopify app - for example - to set up the in-store upsell popups
Set up an email in the post-purchase flow to promote the upsells
I hope this is useful.
The Power of Optimization: From Websites to Mindsets and Everything in Between
The problem is not your ads...
Nor your offer...
It's your funnel! ο»Ώπ¬ο»Ώ
This week we chatted with Matthew Stafford, the CEO and managing partner of Build Grow Scale and an equity owner of some in-house e-commerce brands.
His experience has also enabled him to help hundreds of e-commerce brands scale past the million-dollar mark...
...with over one hundred hitting the $10 million mark...
...and almost 20 reaching the coveted $100 million mark π€―
To top it off, he's been speaking on stages about e-commerce optimization for seven years now!
Here are some of the key topics we covered in this insightful interview:
π Strategies for Optimizing Your Website and Beyond
π Mastering Communication and Relationships With Your Team
π Transforming Negative Internal Narratives to Achieve Financial Success
π Understanding the Key Conversion Rates for E-commerce Events
π§ Tune in to our latest episode: https://thedtcinsider.com/
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