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The 5 Pillars of E-Commerce

Have you been desperately trying to grow your e-commerce brand by using all kinds of marketing techniques, but nothing seems to be working? You might need to reassess your entire growth marketing strategy. 

Most companies will take a fragmented, and incomplete approach in an attempt to grow their brand. These strategies have not successfully shown any digital marketing results for these brands. In order to combat this old-school approach, Dan Ben-Nun has created a new holistic approach that uses five pillars of E-Commerce to effectively analyze the channels of growth within all of our brands. Dan applies the five pillars approach for all of our clients for their growth marketing strategies. This growth marketing strategy has worked well for our companies, and we have seen beneficial results. Now, we will take a deep dive into the five pillars of e-commerce.

Five Pillars of E-Commerce: Growth Marketing Strategy

  1. Product Market Fit 
  2. Site Experience 
  3. Acquisition 
  4. Lifecycle 
  5. Reporting + Analytics 

1. Product Market Fit:

Product-market fit is the first pillar of e-commerce. Is the product you are selling a valuable and good fit for the market or your target audience? There is no level of marketing or budgeting that can compensate for a product that the market does not want. The Product Market Fit can be fully assessed using three key factors. These three key factors are price analysis, competitor analysis, and Stock Keeping Unit (SKU) analysis. 

A. Price Analysis:

One of the most fundamental principles of marketing is the pricing of the product. It is genuinely a complex matter with various factors that come into play, both for the short-term and long-term plan. How much your product costs sends a powerful message to your target audience and market. Furthermore, it is crucial for the product’s price to consistently match your brand, positioning, and the value that your brand offers the market. During the price analysis portion of product-market fit, our marketing team deeply analyzes the current product pricing. Our analysis includes comparing the product’s prices against the variables mentioned above.

Based on our analysis and findings, we will suggest some recommendations to ensure your product pricing is set accurately. We want to make sure that the price of your product is optimized so that it promotes a positive Return on Ad Spend (ROAS) and wide scalability. Indeed, Price Analysis can be delivered in various forms, including scalability analysis, pricing strategy, marketing pricing research, and brand or competitor pricing analysis. 

B. Stock Keeping Unit (SKU) analysis:

A Stock Keeping Unit is a label composed of numbers and letters that help track all of your products through the orderings, processing, and shipping process. Each product you sell has its own individual SKU, and it helps keep track of inventory. During the SKU analysis phase, our team of experts will conduct a detailed audit of your current product selection. This audit will allow us to figure out which of your products are best-sellers. We also refer to these best-selling products as the “Hero Products.” During this phase, our team also assesses if your hero products are scalable. We do this by implementing the theory behind Pareto’s Principle. The theory suggests that in the case of most events or outcomes, 80% of the consequences result from 20% of the causes.

After we successfully define the set of hero products and check for their scalability, our team starts implementing digital marketing techniques around them. Our digital marketing practices are meant to increase conversion rates for the product. After that, we will develop techniques to research, test, design, evaluate the products. We will also be able to accurately predict customer demand for a new product before it launches.

All in all, the deliverable of a proper SKU analysis includes a product analysis, clearly identified hero product, analysis of customer demand, customer research and testing, inventory, and a growth hacking strategy revolving around the hero products. 

Stock Keeping Unit

C. Competitor Analysis:

The third step of the product-market fit phase is the competitor analysis. The competitor analysis helps clearly understand the market your brand is competing in. During this process, our team of experts will research the trends and patterns of competing brands. This will help us assess whether your products are unique, on trends, and are appealing to the masses. During the phase, we will also research the websites of competitors. We will aim to identify their best-selling products so we can get a better understanding of the hero products of your target market. After that, we can create unique versions of these hero products to attract new customers to your brand. Deliverables for competitor analysis can come in the form of pricing strategy, market pricing research, salability analysis, and analysis of brand and competitor pricing. 

2. Site Experience:

A valuable website is crucial to the success of your e-commerce brand. After all, e-commerce means online business, so what can be more important than representing your brand online? Site experience is the second pillar of e-commerce. Providing the customer with a good site experience can have various benefits for the company, including an increase in ROAS, higher customer satisfaction, higher conversion rate, increased email sign-ups, and lifetime value. Our team of experts knows several techniques to develop the right website content and design that will make your brand more appealing and successful online. We aim to give your website’s online presence an edge over other competitors in your niche.

A. UI/UX Conversion Optimized Web Design:

During this step, we will create a new website design with conversion as the primary objective throughout the website. We strive to present your Unique Proposition Value (UVP) using the five-second growth marketing strategy. This strategy enables customers to take action easily and quickly. We start by researching the shortcuts successful competitors utilize to optimize their sites for conversion. Next, our team designs the homepage and then moves on to the subpages. Our website design and content can be described as elegant, simple, and easy-to-use. We also use clear Call-to-Actions (CTA) and UVPs. 

B. Mobile-Friendly Responsive Web Design:

The next step is making the website mobile-friendly. We use high-quality web design software to display a realistic and complete site experience before we start development. We also design separate mobile versions, so the website is optimized for all devices. Once the client approves the design, we start our development by converting the designs into responsive HTML/CSS codes. All of our designs are based on the twelve column responsive boot-strap grid. This allows the website to have complete responsive mobile device functionality. Indeed, our client’s websites are compatible on all browsers, tablets, and devices. Making your brand’s website mobile-friendly is one of the most important steps of your growth marketing strategy.

C. Optimizing to Increase Conversion:

Our team can also increase your site’s conversion rate. We will conduct a detailed audit of your current website and find opportunities for optimization with it. We will also install any necessary or useful plug-ins and software to make sure your website is converting at the industry standard or above. Examples of our plug-ins and updates include configuring an email capture and a live chat. Our conversion rate optimization also consists of a traffic analysis followed by a detailed analysis of conversation rates and metrics. 

3. Acquisition:

Acquisition is the third aspect of e-commerce. It is the brand’s way of growing, so we need to improve the development and management of each acquisition channel. This further helps develop autonomy, accountability, and growth for the marketing strategy. 

A. Audit & Assessment:

The first step is to perform an audit of your products, website, advertising techniques, analytics, and customer data. This will help our team discover as much as possible about your brand and your target audience. We can walk you through our detailed customer research process to help define your target customer demographic. After that, we will define your key market benefits and selling points using our Unique Value Proposition (UVP) process. What makes your product so unique and worth buying over your competitors’ products? Next, we will develop a targeted customer profile. We will also define how to target and attract potential customers effectively. After that, we will perform keyword and competition research to discover the most valuable target markets. These are the markets with the least competition and the highest value. We will also be working together to define quantifiable techniques to measure the success of the project.

 B. Advertising Content & Creative:

Our team of experts uses creative development and top-class cinematic technology to develop content designed to perform successfully across various digital platforms. Our creative team leverages leading cinematic technology with creative development. Next, the team pairs it with expertise on today’s digital marketing landscape to create content specifically crafted to perform successfully across digital platforms. Also, our approach of mixing digital media tactics with core advertising principles helps raise demand for the product. We want to relay to your target audience that your brand is unique. We do this by first understanding your competition and your target audience. After that, we will develop specific content that targets the needs of your specific target audience. Our unique creativeness for each step of the tunnel helps drive leads and increase sales. We mostly recommend advertising on the primary customer social media sites: Snapchat, Youtube, Google, Facebook, Instagram, and TikTok. 

C. Optimize and Scale:

Part of acquisition also requires us to engage in daily management and optimization of all marketing campaigns. This step ensures that ad spending and budgets are effectively being used. We replicate, scale, and expand the highest-performing campaign and pause any underperforming campaigns. We also split0test new ad creatives, new audiences, and new ads. This improves marketing performance, tests new markets, and decreases ad fatigue. We also compare different campaign types in order to find the highest-performing campaign according to Return on Investment (ROI). As our audience grows, we will expand our remarketing campaigns and retargeting to improve Customer Lifetime Value. Also, an increase in ROI will allow us to expand our campaign’s budget. 

4. Life Cycle: 

After we have successfully acquired a new customer, we need to increase the Lifetime Value for the product. We do this by creating a process to cross-sell, upsell, and resell customers. The Life Cycle is vital to your brand’s growth marketing strategy.

A. Onboarding and Account Configuration:

During this phase, we run through a set of questions that helps us understand your existing email marketing efforts and help with account configuration. We will walk you through the whole account creation process. Also, we will make sure all the important information regarding your business and subscriber list has been uploaded. After that, we can configure account settings to ensure your email marketing account is efficiently functioning. We strive to make your account setup process fast and smooth.

 

Klaviyo - Growth Marketing Strategy

B. Automated Flow Development:

During this step, we will customize email, and SMS marketing flows to improve conversions and ROSS during the customer lifecycle. We start by implementing the eight foundational automated email flows and five automated SMS flows. These flows are specifically created to drive conversions. Our automated SMS and email marketing campaigns use various techniques to make your brand stand out. Important factors in a successful email and SMS marketing campaign include the frequency of contact and the time when the messages are sent. Your messages should also read like quality content that doesn’t look like spam to your readers. Indeed, we make sure the emails and SMS messages are sent to the right population at the right time with the right content.

C. Content and Creative:

This is when our team will utilize the current brand voice and assets to develop SMS and email content. We will also customize graphics and design the layout for each email. We collaborate with our customer’s marketing team to create a custom SMS and email copy that adheres to their brand guidelines. Also, we make sure the content follows the brand voice while speaking directly to each kind of target audience. This helps drive customer engagement and conversions.

We also have a graphic design team that will use your existing content to develop top-class static images. These images target the specific values and needs of your target customers. Last but not least, our team will design the layout of each email so that both images and copy are placed strategically to keep readers engaged while they interact with each email. This helps boost the customer down the sales funnel improving your brand’s growth marketing strategy. 

5. Analytics and Reporting:

The final pillar is proper reporting and analytics. Centralized data, analytics, and reports are crucial to the success of your brand because, without them, there will be multiple sources of information leading to confusion.

A. Consumer Google Data and Data Studio:

Our team of experts will create a Google Data Studio account. That way, your team can access all the real-time analytics and metrics for all digital marketing campaigns. Google Data Studio is a valuable tool for customizing data into informative dashboards and reports. Your team should have access to the dashboard 24/7, 365 days out of the year. Clients will also be able to access an SEO dashboard that displays real-time metrics and analytics for all SEO activity. Indeed, Google Data Studio can help your brand’s growth hacking strategy tremendously.

Google Data Studio - Growth Marketing Strategy

B. Automated Weekly and Monthly Reporting:

Clients will also be able to access comprehensive monthly and weekly reports that detail all of the digital marketing campaign results and metrics. The weekly report provides metrics from all channels and platforms from the previous Monday through Sunday. Furthermore, weekly reports are usually sent out every Monday. Also, the monthly reports get sent out on the first of every month. These monthly reports provide the clients with the digital marketing campaign results and data for the previous month.

C. Unlimited One-on-One Consultations:

Our team of experts is available for an unlimited number of one-on-one phone consultations for the duration of the entire contract. These direct consultations can be an excellent way to evaluate reports, set expectations, and discuss future growth marketing strategies. They are also crucial in building a long-lasting and strong relationship between the two teams. We are here to help you and want to be by your side every step of the way. 

THE DAN BEN-NUN DIFFERENCE:

Truly, the five pillars of e-commerce are an extremely valuable tool in assessing and auditing a company’s existing digital marketing strategy. The pillars can help the brand find opportunities for growth, attract target customers, and increase the conversion rate for the company. 

Pillars of E-Commerce

If you need help with your brand’s growth marketing strategy and revenue, we are here to help. Dan Ben-Nun is one of the leading digital market experts in the industry. Our team of experts will also provide comprehensive recommendations for each aspect of your business to create scalable growth. Contact our office to schedule a free consultation today. 

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About
Dan Ben-Nun

Dan Ben-Nun is a successful entrepeneur and digital marketing guru. He’s founded & grown 2 companies from zero to multi-million dollar businesses and has helped hundreds of companies grow with digital marketing.

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The 5 Pillars of E-Commerce

Growth Marketing Strategy
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