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The DTC Insider - Weekly Newsletter - 14/06 - Issue #10

The DTC Insider - Weekly Newsletter - 14/06 - Issue #10

How To Predict The Perfect Price For Every Product

June 14, 2023

Welcome to this issue of The DTC Insider newsletter. 👋

We'll send you weekly emails, every Wednesday, trying our best to deliver great value to your inbox.

In this newsletter, you'll find:

💠 Get Your Email Marketing Map And Avoid Getting Lost

💠 A Look Into Swimwear Trends And Their Performance In The Market So Far In 2023

💠 Meta's New Performance 5: Everything You Need To Know

💠 How To Predict The Perfect Price For Every Product

Get Your Email Marketing Map And Avoid Getting Lost

The phrase "user journey" is something you've probably heard many times.

But ignoring it may lead to solving problems that don't exist.

Or that won't contribute to your business growth (think of the 80/20 principle).

That's why one of the first things we do internally at BSR Digital when we analyze Klaviyo accounts, is building their Touchpoints Map.

What's a Touchpoint Map?

This is an example of a part of one we've recently built.

It will help you see which touchpoints (automated email/sms flows, mainly) are present, and which ones aren't.

How does it work?

Here are the steps we follow:

1️⃣ Take a look at your email marketing account

2️⃣ Write down the automated flows that are currently running

3️⃣ Use the rules listed below to color your touchpoints

Here's the meaning for each color:

Red: the touchpoint (ie. Browse Abandonment flow) is not present (or not currently running) in the account
Yellow: the touchpoint is present but it's not working well or properly set up
Green: it's present and working well

How do I use it?

Once you've built your Touchpoint Map, it's time to use it.

We suggest building a list of priorities with the touchpoints to add/fix.

Here are a few things to consider:

List your missing touchpoints and assess whether it's relevant adding them or not
Identify quick fixes that can help yellow touchpoints work better and then those that require a makeover
Ask yourself if these touchpoints are in line with your goals and needs. For example, if your goal is to increase your AOV and you're not doing anything related to that in the touch points, then it's something you need to add to the TODO list ASAP.

How can I build it?

We build them on Figma, but you can use any basic diagram tool to do it.

SPONSOR

A Look Into Swimwear Trends And Their Performance In The Market So Far In 2023

Our friends at Particl recently put together a report on swimwear and how they're performing so far in 2023.

Check it out here!

Meta's New Performance 5: Everything You Need To Know

Meta has recently announced updates to their Performance 5 (aka Power 5).

These are supposed to be the best practices Meta advertisers should follow to enhance their performance.

TBH, it was a little disappointing reading them, as we haven't found anything we didn't know already.

We even found things we don't agree with, but that's life. Isn't it?

Let's go through them:

1. Simplify your account structure and put ad creative in one central campaign

I believe this is something every experienced advertiser should know by now.

In the last few years, the trend was to use fewer campaigns and ad sets.

Also, due to the fact that audience sizes are way smaller than before, ad creatives are the new filter.

2. Use automation tools to optimize campaigns

Here they're suggesting using Meta's Advantage suite of products (ie. Advantage Audience, and Advantage+ Shopping, among others).

Some of these features are relatively new, but it's going in the same trend as #1.

Simplifying and trusting Meta to find the right match for the audience, placement, and message.

3. Differentiate your creative by audience

As we said above, the message is the filter now, not the audience.

This means that you need to target broader audiences and test more targeted and relevant messages.

4. Utilize the Conversion API to improve campaign performance and measurement

Agreed.

This is something you must use to avoid losing even more data.

5. Measure your campaign with Conversion Lift, A/B testing and marketing mix modeling

In our experience, at least, the times we've done it for our clients this didn't add any value at all.

If you don't know what this is about, Meta would conduct a study to then tell you their findings, but those weren't really revealing in the ones we've run.

How To Predict The Perfect Price For Every Product

"Most brands don't change pricing. If price is the quickest lever to maximize profit, why is nobody pulling it?" 🤯

Join Brian Roisentul as he sits down with the brilliant Chad Rubin, the mastermind behind Profasee and the man who knows Pricing inside out.

In this episode of The DTC Insider podcast, Chad reveals exclusive insights and shares his firsthand experiences on a range of game-changing topics, including:

👉 Skubana Acquisition and Rebooting Post Exit

👉 Turning Around his Ecommerce Business, Think Crucial

👉 The Fallacy of Managing PPC Spend to ACOS

👉 The Art and Science of Pricing

👉 SAAS Mistakes and Learning Lessons from Skubana (Post Mortem)

🎧 Tune in to our latest episode: https://thedtcinsider.com/

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