Time to invest in....an interested audience.
First day of October, already!? Rabbit rabbit!
We're less than 2 months away from Black Friday Cyber Monday.
Here’s an interesting data point that I learned from Common Thread Co’s monster piece on BFCM:
The leads that you gather in October are the most valuable of all leads.
As an example in their portfolio skincare brand Bambu Earth, 42% of their email revenue came in the last quarter:
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The main takeaway: work hard to build your email list RIGHT NOW, as email will be an especially powerful channel in the next three months, with BFCM and the holidays coming up.
“Even if you lose money in the short term, your payback period will be at its shortest. So you can afford to be aggressive,” Taylor Holiday writes in the piece.
It’s a strategic investment to warm up an
audience and prime customers before competing with hordes of other brands during the BFCM weekend.
89% of BFCM purchases were made by customers who open an email beforehand. So the upcoming 6 weeks are ideal opportunities to engage your list with emails.
Using data captured in a quiz is one effective way to ensure increased relevance and personalization! 😃
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If you take a hard look at how you spend your time.....how do you value your time?
The easiest way to do this is to quantify how much it would cost if you were to pay someone to do it for you.
This was my lightbulb “aha moment” in my conversation with Yoni Kozminski.
Yoni focuses on creating process improvements and building efficiencies at scale....more specifically, helping companies leverage overseas talent at a price that is 6-7x less than talent in other parts of the world.
It's the trap that many may find themselves in: working IN the business, not ON the business.
Could those hours (and energy) be more valuable focusing on high level strategic initiatives, instead of tasks that can be outsourced?
Yes, probably.
My conversation with Yoni was a great reminder to evaluate how I spend my time, and how I can use a global workforce to multiply productivity and output.
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✍️ On The Blog: 5 Word-of-Mouth Lessons We Can Learn From Stitch Fix and Others
Everything on the internet wants attention. Which has only led to more apathy and indifference in customers. The only way to break through this is to make your referral programs as simple as possible to engage with.
Customers often tend to overlook aspects of a website that do not pique their interest or directly address their needs. So if your referral process is too complicated or requires your customer to read a whole list of terms and conditions to make complete sense of it – then
you’re doing something wrong.
Interesting insights from Rehaan Mohammed of Cloud Sponge here.
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Here's to a HUGE October in prep for BFCM 💪
Need some help incorporating a quiz into your list building strategy?
Just hit "Reply", I'd love to help!
Happy quizzing,
Gen
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