We are nearing the end of 2019 (that went by FAST didn't it?)
For me, this time of the year is as much for reflecting back as it is for analysing trends and strategising for 2020.
During the past few days, I've been getting questions from clients and colleagues alike regarding the Ecommerce landscape for 2020.
From colleagues particularly, different variations of the same question have been coming up over and over again.
'what is the number one most important thing an Ecommerce business should do to grow in 2020?'
As a 'marketing guy' or 'growth hacker', you would think I would resort to speaking about the latest marketing hack or advertising fad...
'a chatbot', 'a F+S funnel', 'SMS & Messenger advertising' (??)
Yet for seemly big problems (as is business growth), the answer always lies in simple core business principles - it's funny but this ALWAYS holds true.
And so instead, my answer has been 'Customer Obsession'.
It's really amazing to me the number of entrepreneurs who will spend weeks, months, years (!!) building a product and THEN go looking for a problem to solve with it.
It happens ALL the time and it's the n.1 cause for startup failure 😬
But perhaps more amazing... the number of marketers who will put their head down for weeks on end, launch a new marketing campaign without any feedback from potential customers... and THEN cross their fingers, close their eyes and hope it converts.
It's all backwards.
What if instead of spending hours building a campaign, launching it and hoping it works... ...we just asked our customers what they wanted to see, hear and buy... and THEN gave that to them? 😎
As entrepreneurs and business owners, we must always remember that we are NOT creating products for our business ❌
We're doing everything for the customer.
For example, let's take a look at the most successful internet business, Amazon.
Many people attribute their success to logistics supremacy, fast-shipping, their Prime strategy, their ultra wide selection... the list goes on.
But these people are missing the point.
Amazon's secret sauce to success is their obsessive compulsive focus with the customer.
Jeff Bezos has been preaching customer obsession since the very early days. Don't believe me? Check this video out (his laugh always gets me haha)
Everything else was simply a result of that over-aching focus.
Many businesses have been able to get away and see decent success up to now by focusing their attention elsewhere... maybe the competitor, profit margins, or number of sales...
But my team and I wholeheartedly believe that these businesses will come to a big reckoning if they don't drastically shift their attention to the customer in 2020.
Even from an advertising standpoint, huge platforms like Google & Facebook are shifting their whole focus there and want their advertisers to do so too (read more about this here)
Okay so now that we know customer obsession is the #1 most important thing for Ecommerce growth in 2020, what are some steps that you can take to ensure you make it a priority?
The first thing is getting clear on who your Customer really is.
Any part of the marketing and sales process that 'touches' the customer (pretty much EVERYTHING) will improve when you get clear on your customer avatar.
After all, it's the person that buys our products and services. It pays to get clear on the characteristics of that person, so you can find and present them with a message that moves them to action.
What most business owners do when they hear this is say 'oh, I already know that'.
But trust me when I say that the idea most business owners have regarding their customer avatar barely ever matches reality. Especially, if they haven't gone deep with it.
There are 5 major components to the customer avatar.
In some cases, you’ll need to survey or have conversations with existing customers to accurately flesh out your customer avatar.
In other cases, you’ll be intimately familiar with the characteristics of your ideal customer. Make assumptions where you have no data or feedback - keep moving forward and just put it on your short list of to do's to complete the research.
1. Goals and Values
We begin with the goals and values of your ideal customer. Make note of the goals and values that are relevant to the products and services you offer.
You'll use this information to drive product creation, copywriting, content marketing and email marketing.
2. Sources of Information
Where do your customers consume their information and from whom?
Consider things like Books, Magazines, Blogs/Websites, Conferences, Gurus etc.
By doing this, you will determine the best places to advertise and the targeting options you’ll use to reach your avatar by listing their sources of information.
You can use a little trick known as the 'But no one else would' for this sections.
For example: My ideal customer would read [BOOK] but no one else would.
When buying traffic from ad platforms like Facebook, you’ll often be able to laser target your audience by focusing on these niche interests -- while excluding less than ideal prospects.
3. Demographic Information
The demographics are another useful part of the Customer Avatar when choosing targeting options in ad platforms like Facebook.
And, when writing content, email or sales copy it can be beneficial to simply write as though your avatar were sitting across the table from you.
Demographic information like age, gender, marital status, # of Children, Job Title, Annual Income, Level of Education, Occupation, and Location will give your persona a look and feel.
4. Challenges & Pain Points
Get clear on the Challenges your customer faces, their fears, what keeps them up at night...
This section will drive new product/service development as well as the copywriting and ad creative you’ll use to compel your ideal customer to action.
5. Objections & Roles
Why would your customer avatar choose NOT to buy your product or service? These are called “objections” and they must be addressed in your marketing.
You must also determine your avatar’s role in the purchasing process. Are they the primary decision maker? Are they a decision influencer?
For example, is your product something that would need a two-way conversation between husband & wife?
Understanding your ideal customers decision making process is paramount to the success of your marketing and sales campaigns.
Those are some of the best ways to find your customer avatar - they have worked wonders for us and they are a big stepping stone for adopting a customer obsessed approach.
Armed with the knowledge, you’re ready to put it to work for your business! But why stop here?
If you’re looking to kick it up a notch and take your business to the next level in 2020, you need a team that can:
• Create a seamless sales process and marketing funnel to transform awareness into customers. • Write compelling email copy that gets the user to buy your product or service • Create paid traffic campaigns that nurture your lead through the Customer Value Journey.
That’s where MogulZ comes in. If this is something that interests you, let's jump on a quick 30-min no-obligation discovery call to see how we could help you and if you're the right fit: You can book a place here (subject to availability).