Using Lead Generation to Support your Ecommerce Strategy.
Ecommerce Strategy, Performance Marketing
When we think of ecommerce, or even just D2C in general, we generally don't think of lead generation. We think of shorter purchase journeys, quicker decision making and ultimately checking out immediately on site. And whilst this may be the case for lower value products or everyday items, the same cannot be said for luxury purchases.
We have spoken at great length about the complexity that is the luxury purchase journey and how it can be far longer than we initially expect. So now let's take a look at how your brand could be harnessing lead generation within your ecommerce strategy to convert even more of your audience.
What do we mean by Lead Generation?
The way we see lead generation could also be seen as data capture. And this is where it may differ from the standard definition of a 'lead' within marketing. For the purposes of ecommerce and to Revenue Growth Agency, a lead is a consumer who has allowed a brand to capture their data (usually an email address through a sign up form) and is now sitting nicely within a CRM system. They have yet to make a purchase but they have shown significant interest in the brand. So a lot of what we're going to be discussing here, is how to move consumers from just 'being aware' of your brand, to being nurtured by your brand. In short, we need to build your database.
Why is this important? Well email marketing still remains to be one of the most cost effective means of driving revenue.
Reports by Litmus state that email ROI is an impressive $36 for every $1 spent - higher than any other channel.
So, theoretically, the larger your email database, the more revenue you can drive in a cost effective manner.
Before you start.
Before you start rolling out new lead generation campaigns across your various channels, you need to ensure that you have the appropriate infrastructure to house and nurture those leads. This means that you absolutely need a well managed, well organised CRM system. If you already have a good CRM in place (which we really hope you have!), it may just be a case of making sure that it is organised in a way that makes sense. Refining lists, updating tags or lead scoring parameters will always be a good place to start so you know how "ready to buy" certain audiences might be. If you don't have a good CRM system in place, take a look at Klaviyo, Ometria, Hubspot or Zoho to start with.
Channels for Ecommerce Lead Generation.
Within your paid channels, lead generation ad formats within paid social are going to be the most effective ad formats/channel to use.
Meta provide quite a sophisticated set up for lead generation allowing you to choose specific objectives, add custom questions to forms, create higher intent forms with an element of friction or even set up dynamic ads which tailor messaging based on previous activity. The beauty of paid social lead generation is that the form is housed natively on the platform, so the consumer does not need to navigate away to another site. We know that the easier and quicker it is for a consumer to complete a task, the more likely it is that they will actually complete it. Meta ads have direct API integrations with many CRM, marketing automation and email marketing systems so that data can be transferred with ease from native forms into your databases.[/vc_column_text][vc_masonry_media_grid grid_id="vc_gid:1676474886726-6f84b1e1-50c1-6" include="2083,2084,2085,2087,2089,2090"][vc_column_text]
Messaging for Ecommerce Lead Generation.
When it comes to messaging, or even just lead generation in general; there needs to be an exchange in value. We often talk about consumer data being valuable and in order for the consumer to allow us that data, they need to receive something in return.
The simplest message and the best value you can hit your audience with is an offer.
Offering a % off at point of sign up has been seen to be an effective way to capturing consumers with fairly strong intent but just need a gentle nudge to make a decision. Free samples can be a great way of introducing your brand to new audiences who may be further up their purchase funnel.
Now, as a luxury brand, you may not wish to be associated with discounts or be reliant on promotions to convert audiences - and that's okay! There is plenty of other value that you can provide in exchange for that all important email address.
You can always offer consumers great content. And this might go beyond a newsletter.
Some of the below examples will be specific to fashion brands but many can work across multiple verticals.
Exclusive Lookbooks/Pinterest style boards for upcoming seasonal trends.
Luxury consumers are often planners. They want to know what is going to coming into season so they can plan their purchases. By providing foresight into what trends your brand might be leaning into to, you can tap into this mindset and be front of mind when the time comes to purchase.
Exclusive interviews with brand ambassadors.
Think Architectural Digest's house tours, Vogue's 'Go to bed with me' or GQ's '10 things I can't live without'. If you are using particular influencers or brand ambassadors think about how you can create engaging content with this person. It could be as simple as behind the scenes footage of a photoshoot and then allow people who have signed up earlier or exclusive access.
Virtual fitting rooms (allowing consumers who sign up access to try on different looks using AR).
This is a little more specific to fashion but think about highlighting products and then inviting audiences to try on those products but signing into a virtual fitting room. This will require additional investment and augmented reality expertise so forecast how valuable AR may be to your brand before committing.
Early access to product launches.
Much like concert ticket pre-sales, allow signed up audiences early access to any new launches that you might have; especially if the product is limited or special launch/collaboration. Create a fear of missing out and product scarcity to further entice anyone viewing your ad.
Lead generation ads have their place within ecommerce. They engage audiences higher up the purchase journey and should sit separately to you activation/bottom of funnel ads. And as we always say, the more data you can collect from your audience, the better your optimisation can be and the more revenue you can drive across your campaigns.