The growth of ecommerce over the past decade has created a crowded marketplace, where numerous brands are competing for consumer attention through paid advertising. As a result, the cost to advertise across performance marketing platforms like Meta, Tiktok, Google Ads, YouTube and LinkedIn are becoming costly for marketeers. This impacts customer acquisition costs, placing a greater importance on retaining existing customers and finding alternative avenues to reach your target audience.
Let's unpack two ways to supplement your marketing strategy over and above your paid performance marketing channels:
Let's unpack two ways to supplement your marketing strategy over and above your paid performance marketing channels:
- Acquiring new customers beyond performance marketing
- Leveraging your existing customer base
Acquiring New Customers Beyond Paid Ads
Influencer Marketing
Influencers are generally users who have amassed a following on one, or multiple, social media platforms. While some have millions of followers, others have as little as 1000.
Influencers have what brands and agencies want, a trusted audience. Whilst not cheap, they are effective at all stages of the marketing funnel. We dive more into influencer marketing and the benefits of influencer marketing here.
Influencers have what brands and agencies want, a trusted audience. Whilst not cheap, they are effective at all stages of the marketing funnel. We dive more into influencer marketing and the benefits of influencer marketing here.
Affiliate Marketing
At its core, affiliate marketing entails “affiliates” endorsing a brand and its offerings within their networks in exchange for a commission for each sale generated (not paid up front for marketing and promoting products). An example of this could be a personal trainer advocating for health and wellness products through their gym. Additional actions, such as email sign-ups, clicks to a website landing page or content downloads, may also earn them commission.
Affiliate marketing amplifies brand visibility and builds trust among consumers through “word of mouth” marketing. This channel offers impressive return on investment and is another tool to consider when looking to diversify your marketing strategy outside of just conventional performance marketing.
Affiliate marketing amplifies brand visibility and builds trust among consumers through “word of mouth” marketing. This channel offers impressive return on investment and is another tool to consider when looking to diversify your marketing strategy outside of just conventional performance marketing.
Leveraging your existing customer base
Customer retention strategies are another way to supplement a brand's performance marketing. These existing - and loyal - customers are a brand's shortest route to a conversion and ensure long term growth. The idea is to prioritise repeat purchases, increase average basket value (e.g. bundles), and nurturing customer loyalty through rewards and loyalty programs.
Email Marketing
Loyal and subscribed customers are your shortest route to upsell and convert customers. Audiences are segmented in order to send tailored messages and offerings through sneak peeks, special offers VIP experiences etc.
Loyalty Program
Shopify, Webflow, Magento and custom built websites can all offer loyalty programs to reward your most engaged customers. Offering free products or percentage off discounts are a great way to incentivise repeat purchases.
Looking for an agency to assist in your digital marketing efforts. We’re a team with a wealth of knowledge in Shopify and other ecommerce platforms, Google and Social Media advertising.
Get in touch with one of our Geeks...
Get in touch with one of our Geeks...
