It\u2019s no secret that there has been a shift in shopping preferences moving to the online world, with <\/span>67% of millennials preferring to shop online<\/span><\/a>. But in recent years, even the meaning of \u201conline shopping\u201d has evolved. A once-simple buying journey on a retailer\u2019s website has rapidly evolved to a complex situation, for shoppers and retailers alike. <\/span><\/p>\n With so many shopping options, today\u2019s consumers are often loyal to a variety of retailers and websites, including online marketplaces like Amazon and eBay, large retailers like Target, and category-specific stores like REI and Jeni\u2019s Splendid Ice Creams. And it only gets more segmented from there.<\/p>\n Consumer touchpoints are increasing with astounding velocity \u2014 and ecommerce technology is evolving in tandem with these <\/span>multichannel user behaviors<\/span><\/a>. Not long ago, occasionally <\/span>serving a relevant ad on Facebook to a wide audience<\/span><\/a> was considered an innovative approach to commerce marketing. <\/span><\/p>\n Now, you can segment and target your audience on the world\u2019s leading social media platform with the accuracy of a professional dart thrower. <\/span><\/p>\n Furthermore, the consumer experience on Facebook has evolved well past simply serving ads to past and potential customers. You can now sell directly to Facebook users on the platform, who can access a product with a single click, all without them ever having to leave the safe confines of their news feed.<\/p>\n This development is ushering in the next wave of commerce, in which your online store is a necessity \u2014\u00a0but not always necessarily the main revenue driver or power player in your retail strategy.<\/span><\/p>\n Successful retailers are leveraging the technology and data at their disposal to find their customers everywhere, and bring their products to the masses. With the majority of product searches beginning on Amazon and the continuing growth of social media, the playing field has been leveled and nearly any online retailer can reach thousands of potential customers with a few strategic clicks.<\/span><\/p>\n However, this wealth of new tools and infinite possibilities come with their own set of qualms: where should you start and how can you best utilize your time and the resources available to you?<\/p>\n That\u2019s why I\u2019m sharing a few examples of retailers who have succeeded on multiple channels by viewing these various touchpoints not as a hindrance, but rather as a competitive advantage. <\/span><\/p>\n Infant clothing brand Spearmint Love<\/span><\/a> harnessed the power of engaged social media fans to turn likes into dollars. <\/span><\/p>\n It all started with product photos. Rather than highlighting individual products in social media posts, owner Shari Lott combined pieces to create full outfit flatlays. This set the brand apart for new moms, who were attracted to the emotion the images created and often ended up purchasing every product featured in the photo.<\/span><\/p>\n This merchandising technique earned Spearmint Love new Facebook fans at a rapid rate, and the brand then utilized the platform to gain insight into their audience\u2019s needs and target fans more effectively.<\/span><\/p>\n Spearmint Love began to test various types of ads and targeting through Facebook\u2019s Ads Manager, adjusting copy and photos until they lowered their cost of customer acquisition to less than $5 per customer. The team fine-tuned every ad set over months until they saw $5-10 ROI for every $1 spent on advertisements.<\/span><\/p>\n Additionally, Spearmint Love utilized their social media data to go one step further by forecasting the lifetime value of customers. Lott\u2019s husband <\/span>performed a cohort analysis<\/span><\/a>, placing customers into groups based on when they made their first purchases and tracking their habits over time to determine patterns.<\/span><\/p>\n As the brand began to notice a sudden drop off in ROI, they realized their targeting method was growing stale. For this particular company, targeting must get as granular as the age of the customer\u2019s children or which pregnancy phase the mother is in. This realization prompted SpearmintLOVE to revamp their ad strategy, targeting fans based on four distinct periods of parenthood:<\/span><\/p>\n The new approach brought nearly instant results for the brand, who found success in serving relevant products to their customers at the appropriate phase in their children\u2019s lives.<\/span><\/p>\n Amazon: Kap7 and Dairy Fairy<\/p>\n As a water polo gear brand, <\/span>Kap7<\/span><\/a> caters to a fairly niche crowd. <\/span><\/p>\n However, it wasn\u2019t long until they realized that many potential customers shop exclusively on one channel \u2014\u00a0either Amazon or online store \u2014 so why not go after both?<\/span><\/p>\n Though Kap7 sees lower margins on Amazon due to increased competition, the brand found it was well worth the higher volume of traffic and increase in brand awareness. <\/span><\/p>\n Amazon comes with a built-in audience, and gives retailers the power to turn on and off selling options, should inventory get low for a certain product. Additionally, Kap7 found that Amazon all but ran itself, making it a low-risk, high-reward and easy-to-manage option for online retailers to sell through.<\/span><\/p>\nSocial Media: Spearmint Love<\/span><\/h3>\n
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