2021 Ecommerce Marketing Benchmarks - Recording
Do you know how your emails, paid media, pop-ups, influencers, and e-commerce operations compare to the rest? Without an adequate benchmark 📊 to start from, it becomes that much harder to understand how your marketing efforts 🎯 are performing . Plus, if one element of your marketing is performing poorly, it can negatively impact the rest of your efforts.
Skubana teamed up with Justuno, Gatsby, Omnisend, and Wpromote for an on-demand webinar on 2021 eCommerce Marketing Benchmarks.
You’ll learn about the benchmarks and optimizations for…
- Email & SMS, with Omnisend
- Paid Media ROAS, with Wpromote
- CRO & Pop-ups, with Justuno
- Influencer Marketing, with Gatsby
- Operations & Logistics, with Skubana
Watch the replay right here or read the transcript below:
Well, thanks, everyone for joining today's webinar. Personally, it's super exciting to be here today to moderate today's webinar. All of the partners that we're going to be chatting with today, and I have five different partners today that are here. I want to thank Justuno, number one, for putting this all together and getting all of these amazing partners. These partners that we're going to learn from today, they are making significant impact in ecommerce. And so if you're an ecommerce founder, if you're in marketing, if you're looking to grow and scale your business, and you're trying to find the best strategies and tactics, and what's going on in 2021 right now, then this is the recording for you today. And I'm just, thank you so much for coming. One thing I'll add is that, this show is going to be recorded. And so you will get a copy of it after it's been recorded. And one thing that's really important to think about is, is that if you're ambitious, and if you're a lifelong learner that I know today is gonna blow your mind. I've had a chance to peek through the slide deck, and it's really, really interesting some of the things that we're going to be learning today. As you can see on the screen here, these are the list of all the different partners that are going to be available today, that are going to chat through. And maybe I'll just go briefly through each one of them just so you kind of know who they are. First up is Chad Rubin, and he's the co-founder of a company called Skubana. And what they are is they're an inventory and order management platform. And they really do help direct the consumer brands really to improve efficiencies. And they work in all areas about how you can integrate your products, your fulfillment centers, and all your sales channels all get joined up together in Skubana platform. Think about ecommerce store, and wholesale, and marketplaces and pop-ups and retail. They do it all all from one platform. So they are the source of truth for understanding your warehouse. So next up, we have Steph, and she is actually the customer success strategist from Justuno, who's helping put this on today. And what Justuno is, if you don't already know, is they're a lead capture tool and exit intent to do upsells and cross-sells, even get involved with Facebook Messenger opt-ins and leads and really help build that community through Facebook Messenger. They even have a really great addition that happened about a year or so ago. And they're really advancing on this now with this commerce AI they're calling it now which is really helping using artificial intelligence and machine learning, along with a strategist to really help reveal and share a lot of the results of how a site visitor can find different products, and how they can get better opt-ins. One thing too, that I noticed about Justuno is that they are a Shopify Plus technology partner, which is fantastic. Which means they have the security and the privacy and the scale behind them. And they're also used by a lot of the largest agency partners that are available and direct to consumer. Think Hawke Media, MuteSix, Tinuiti, Worth eCommerce. Many, many, many more agency partners use them. Next up, we also have Greg Zakowicz, who is from Omnisend. And Omnisend also is a Shopify Plus technology partner. And they're an incredible marketing automation tool that does more than just email, they do SMS and push. They're one of the leading platforms that are being used by Shopify Plus brands. Really, really exciting platform, owning the customer journey and owning the customer record, and they do it very, very, very well through flows. Can't wait to dig into what he has to talk about today. And also we have David Dweck from Wpromote. Now, Wpromote once again, also a Shopify Plus agency partner, a phenomenal organization. They're part of a larger organization. But what's great about them is they use data and a lot of insights to make the best decisions around digital marketing strategies. They're very, very, very unique. They have their own custom built data platform. And they really do a lot of data-driven analysis, things to build customer lifetime value, and just number one, impact the bottom line. So I'm looking forward to some of the stat he's going to reveal today. And finally, Bob Vail from, I'd say, a very unique platform in social media, in understanding the social footprint of Instagram and thinking about influencers and how you can run influencer campaigns with your existing customers. So it's really interesting how you can collaborate, but to finding the first party data in Shopify as it relates to what's going on on your social footprint of your customers. And you may want to work with them and they've got a really amazing opt-in solution that's all seamless. I'm looking forward to digging into that one today too. And now for me, I'm your, I guess your moderator today. I just want to thank once again, Justuno for having me on. My background is startup founder. I've got involved in an optical startup in Canada where I live. I took an exit from that, we built it to eight figures. Got involved in the agency world, was there for four years selling digital marketing and getting involved in marketing strategy. And that was a phenomenal little period of my life. Got involved with Shopify, which I'm a current An employee of Shopify in the merchant success team. And so I have a book of business or being a trusted advisor for about 60 brands. And I really help them to improve efficiencies, and just profitably grow revenue and just think lifetime customer loyalty. So I'm their main point of contact in Shopify. But also part of my life of learning, and as you can see the logo up here, I also run a very popular podcast called Ecommerce Fastlane, and it's been running for just over four years now. It's really starting to scale up. And all because of these fantastic partners that we have available. A lot that are on today, I've interviewed all of them, and they've shared the problems and the solutions that they have in the marketplace. So excited to be here, and I feel I'm positioned well to kind of share and introduce a lot of these new partners. So let's get off to a great start. First, we'll get to the agenda so you can see exactly what we're going to be talking about today. And, you know, we're going to talk about Gatsby and their tool and how we can scale and grow influencer marketing. Next, we're going to pivot over to Omnisend. We're gonna learn more about email and SMS and the importance of that in your tech stack. We're gonna then get involved with a chat over Skubana and understandable the operations and logistics behind as you're trying to grow and scale, how do you think about marketplaces in multiple warehouses? It's very, very interesting what their tool does. We'll next get into Wpromote, and they're going to help us understand more about return on adspend as it relates a little bit to iOS 14.5 upgrade and some I got a message this morning too about iOS 15 now. So there's lots of stuff going on about privacy policies and the cookieless world. And so how do we increase their return on adspend? And they have some really good strategy about the data they have and how they're able to build that out. And then finally, our partner today who's put this on is Justuno. We're gonna talk about conversion optimization, and we're gonna talk about pop-ups and exit intents, then we're gonna talking about Facebook. It's very interesting how that platform works together seamlessly. So let's get on to the first partner and we'll get rocking here. So my first partner is going to be Robert Vail. I go by Bob. He's going to introduce a solution called Gatsby's, I mentioned. And I'm going to pass the baton over to him. And we'll learn more about how they're helping with influencer marketing.
Thanks Steve, and thanks to Justuno too for putting this together as well. I kind of want to set the scene to start off just talking about a traditional influencer marketing, compared to the more customer-focused approach to influencer marketing that we built a solution around. Traditional influencer marketing starting there, you can kind of think back to the days of the Fyre Festival if you've seen that that documentary there. But traditionally, when merchants think about influencer marketing, it's cold outreach, more kind of celebrity focused big ticket handles with hundreds of 1000s of followers. You're typically working with like agents behind those accounts, you're not actually speaking to the person directly, it's hard to track. You can do some experimentation with seeding, sending out free products, hoping that they'll post about it, but not always guaranteed, right? And it's a lot of manual work. You're cold dming, you're working out a spreadsheet usually, you're sending out cold emails. And typically, if you do get a post from that approach, it's usually pretty low in terms of the engagement rates. You know, we're talking like one to 2%, usually based off of their total following. And we've also gotten feedback that authenticity isn't always there. You know, you might have a contestant on The Bachelor that does a post without a product, but you kind of know in the back of your mind that it's for something and then you can contrast to what we built a solution around, which is more of like a customer-focused approach. So super low barrier to entry, only requires people that have purchased your products. And you know, you're working with the folks that already know your brand. So the end consumer already knows, they've already used your products. They typically have a smaller following. So we're talking about nano micro-influencer focus. But the authenticity is much higher, and in result, you see much higher engagement rates. You can kind of think of building an army of these actual customer, micro-influencers of yours, as opposed to paying one or two or three big ticket folks for content from them. And then our approach is also less expensive, and it leverages the tools that you're already using. Think as a store owner, having an additional platform that you have to log into every day can sometimes be a little bit numbing. So we wanna make sure that you can use everything that you love to use currently, to actually deploy this approach. And engagement rates from a customer approach, we see anywhere from like seven to 10%. So more than triple. And I'll kind of show you tactically how to actually go about this and where you can start. Let's talk about how to leverage your customers. I included some screenshots in here. This is Volcom, one of our customers. We basically look at any points where you're capturing customer data. Like capturing email address is totally ubiquitous. We're sort of pioneering the idea of capturing social handle as well. So wherever you're capturing email, it's an opportunity to also ask for their handle. And you can do this anywhere in the customer journey. So I kind of have like two contrasting use cases here. This is a company that loves to ask it up front, and here's Pair of Thieves. And Fashion Nova does this as well, where they love asking for the handle at the order confirmation page. We find that roughly 20% of folks, when they give you their email, they'll also give you their social handle. And then over time, after you're doing this for a few months, you can usually get about 30% of your total database in handles. Another use case we recommend is just setting up a landing page. Super quick and easy to do, if you haven't done this already. But it's a standalone page on your site where folks can get more involved with you. And we've seen like different wording around this. You could call it a partner program, or, hey, I'm starting an ambassador program, or even something just more soft. You know, hey, do you want to be a content creator for us? Or do you want to just get, you know, work with us closer? And what you can actually do is work this into messaging, post purchase. Or even historically, folks that have purchased in the past six to 12 months, if you haven't been collecting their handle yet, it's never too late to go back and ask them. Because what you'll find a lot of the times is, since you haven't been collecting the handle, it's really impossible to know of your customers that you have so far, who loves you, and who's influential, who might be a great advocate for the brand, even if they have, let's say five or 10 or 15,000 followers, and it's just kind of more everyday consumer level. What to expect? So this is a question we get a lot when merchant hasn't been collecting handle. It's sort of kind of this abstract concept until you try it. And we find that 25 to 40% of all the handles you collect will have over 1000 followers, if that's where you want to start. It's even higher for that for folks over 500 followers, because again, you can still have those folks be great advocates for the brand, just at a smaller level, but you have more of them actually doing it. So 25 to 40% of all the profiles collected will have at least over 1000. And then how do we use these insights. So when we collect the handle, what we do is provide all of those influencer insights, just all about how influential they are, how many followers they have, how many posts they've done, how many people they're following, all that. And we pass that into wherever you store customer info. And more common than not, you know, the ESP that's Omnisend, it's Klaviyo, Gorgias, maybe your support system. We want to make sure those insights are available there. And what folks will do is they'll create a completely automated flow, where they'll reach out to people that have over at least 1000 followers and incentivize them to post about the brands. Volcom does not have someone on their marketing team that's going to be able to reach out to the everyday consumer with just a few 1000 followers. It's just not scalable, and it's too much manual work. So they'll automate an email out. And it gets gets a pretty, pretty high open rate. So here's famous footwear. I just wanted to include like an example of theirs. You know, you go to their site, they ask you for the handle within the customer experience. The customer journey, rather. And if you're over 1000 followers for them, you might get an email like this, where they're incentivizing that person to just post about the brand, do a story even. It doesn't have to be a post, you could do something more light if you wanted. And in exchange, they're giving $20 off their next purchase. And what's really important here is just strategy-wise, folks are usually surprised about how excited their customers are to even just get a discount off their next purchase for a post as opposed to the traditional way where you're paying someone to just do the post, and I'm just going to cut them a check. And this outreach email gets twice the open rate, as usual for them. And then for them, 12.1% of them who opened the email actually went and posted and their engagement rate was around 9% there. Another email example here too, I wanted to throw this in there because it's not like a typical, you wouldn't think it's super popular on Instagram, but this is Tools Today and they do like tools, power drills, all that type of stuff. Same thing, they're incentivizing them to post about the brands. And then we close the loop on that too so that you're incentivizing them, but you're not gonna be able to also manually give out those rewards. So you can leverage the tools that you already use to do that. So whether that's an Omnisend or Klaviyo, or any other system, we'll let that system know when someone mentions the brand. So hey, this person literally just posted content about you. And then you can trigger automation off of that to automatically deliver the reward. And people get really creative with the reward. It could be a gift, it could be a discount, it could be half off on the next month subscription. And most of the folks that get this will then actually use that incentive as well. And then I'll kind of wrap up here just with some what's kind of next this year and beyond. So I think the main trends we're seeing in 2021, is marketing teams are realizing that they have no bandwidth to do this at the nano and micro level. They need an automated solution that's scalable. You know, if some celebrity does come across their brand, sure, they can absolutely work with that person one to one. But what about your loyal customers? What about folks that just have a few 1000? Usually, they go completely ignored, and people are catching on to that. Capturing social handle is becoming more ubiquitous. I think any customer data in general, you know, there's different values attributed to that. But people are realizing the value of knowing someone's level of influence, especially when it comes to email marketing or the support side. Lastly, just iterations on where merchants are like collecting the handle. You can do it at any point in the journey. And we're seeing some really interesting stuff there. And I'll kind of wrap up. Just in general, if you don't know where to start, start with your customers. It's the quickest and easiest way to do it. You have customers out there that absolutely love you, and they might be influential, and we help you uncover that, and help you turn them into the best advocates for you. And then yeah, I just wanted to include too, we're doing a special offer for this webinar, where we'll give you 20% off your first three months, totally month to month to get to know us. So, I wanted to make sure I included that in here as well. And with that, I'll pass that back over to you, Steve.
All right, Bob, thank you so much for that. And you know what, it kind of reminds me a little bit, before I pass the torch over to Omnisend. What's interesting is like part of my day to day, as I mentioned, I get to talk about strategy. And Gatsby is definitely on my radar with the brands that I manage, because they don't realize that there's a scalable solution. And that's what your solution is, is with the Instagram handle, understanding the social footprint of someone on Instagram, and then knowing based on filters, which I love about the platform, when you go into it, you're able to set a filter up and saying, hey, I'm looking to run a campaign based on some influencers in the 1000 to 5000, you know, kind of follower range, if that's the campaign that you want to run, or the nano one could be under 500, as you mentioned. And what's interesting about that is you can think about the campaign you want to do, but now we have the technology to look through APIs to understand the social footprint of your customers, and then from there, you're able to reach out to them directly through the tool, or ideally through Omnisend, and then have it go out directly and starting a flow that way. Really, really interesting platform. And thank you so much for sharing that today, Bob. So next up is going to be Greg Zakowicz from the Email and SMS platform that on set I mentioned at the top of the show, it is a Plus certified partner. They have 10s of 1000s of brands that are using, I think the latest number probably upwards of 60 or 70,000 now. I'm sure Greg knows the size. It's nonstop growing up into the right. And Email and SMS is like a necessary piece of tech stack that has to be connected to your store. I know he's going to bring up a lot of different benchmarks and things to identify some opportunities of how you can increase sales through SMS and through email. So Greg, take it away.
Thanks Steve, and great presentation, Bob. So as Steve mentioned, right 60,000, you're right on par there. So just very quickly, we are like mentioned Email SMS marketing automation platform, integrate with ecommerce platforms across the board. We have plug and play integrations with Shopify, Shopify Plus, BigCommerce, WooCommerce, 3500 five-star reviews on Shopify's App Store. So you know, people are using us, people are loving us, we love them, which is always a great thing too, right?
So I'm excited to talk about email and SMS marketing benchmarks. And more so, looking at the benchmarks and trying to figure out how to use those to identify opportunities to increase your sales. Bob touched on a really key point there with resources and being able to scale things and email and SMS marketing, whatever you're doing. I think every speaker today will probably touch on resources at some point that, you know, we just don't have 20 people on an ecommerce brands team to dedicate to something specific. So how do we look at these metrics, and then how do we capitalize on them to increase sales without the workload to some degree? So last year, we put out a email and SMS benchmark report. You can find them on amazon.com. It's not gated, it's just in the resource section. So go poke around it as you wish. We looked over 10 billion emails, 31 million SMS and web push messages sent. And really, at the end of the day, we come up with something like this, right? This big chart here. Up into the right, if everyone looks up into the right charts, which is always a good thing. Really what we're talking about, and why email and SMS are having such a great heyday. And it's not even past year, right? COVID has come with a lazy excuse. It certainly as helped things but this was always the way, right? Those narratives that email is dead, have been greatly exaggerated. You know, these are both opt-in channels, which is really important. That's the point to make, right? So we talked about like own data, you quote unquote, own the data, but it's first party data. I'm sure we'll have talks later about ROAS with social spend, social advertising. We see the Facebook, iOS, kind of break up, if you will, here. It looks like Android is going to be following that same suit by year end as well. So what does that mean? I'm not here to talk about what that means. We'll get to that later. But when we own the data with first party data here, it gives us that window into consumers inboxes and onto their phones. And that's really important, because we can always push that data through Omnisend as well, but push that data to then make your social ads more profitable for you. So when we look at this year, I'm going to focus my presentation mostly today on automation, because that's where we're gonna maximize the sales without necessarily workflow. We're gonna let the money generate in the background. So automations, you can see conversion rates. They were pretty good before, but they've increased 95% year over year. But you can see kind of the up into the right. The campaigns, which are your schedule, promotional messages and your SMS, which are your bottom two lines, it doesn't look big, but they both increase the 100% year over year 2020 compared to 2019. So everything is going up, which really gives you this opportunity to then say, okay, if we're using automated messages and SMS because conversion rates are increasing, and people are using them, and it's first party data. Now, how do we break that down? So I would say, well, look at the automations that are going to get you the best bang for the buck. And if you're an ecommerce brand, you've probably heard this rhetoric and heard these things before, right? Welcome messages, cart abandonment, very close to the money at that point. But these are things we need to look at and say, okay, where do I start? Where can I optimize what I'm doing from a conversion rate standpoint? And where can I get the best bang for the buck? So you can see welcome messages, you know, Justuno will talk about pop-ups and things like that. It's the legs that feed the wolf. So welcome messages, they're converting very high. But why are they converting over 50%? Which is a ridiculous number, by the way. During the course of the year, I'm waiting for them to come down, and it's not. They're signing up because they have an intent to purchase, whether from you or from someone else. That intent to purchase is there. So we want to capitalize on that. Cart abandonment. So we look at these and we say, how do we get the best bang for the buck here? And then we take those metrics, we compare them to what we're currently doing, or maybe messages that we don't have automated yet and say, okay, where can we implement? First, get some revenue driving in the background and keep increasing? So if we look at these automated message benchmarks and say, okay, open rates across the board, almost 33%. Clicked open rates, 20%, conversion rates, 30%, that's where we're at. Now, this is the important thing here is, what percentage of sales from email are coming from these automated messages here? So last year, 30%, 29% of all email orders sent through Omnisend from automated messages, less than 2% of your total email sent volume. So if you think about it, this is overly simplistic, but say I'll never send another email again, I'm only going to automate things, theoretically, you've maintained 30% of your sales. Now, it's not that cut and dry. But if you think about if I don't have five of these messages, how much sales am I leaving on the table there? So when we look at those benchmarks, we say, okay, automated messages, where can we implement and where can we optimize. Welcome series, it's a no brainer, 50% conversion rate. Why are they signing up? How can we optimize these things? Well, think about that path. Can we capture people that sign up while they're viewing men's shoes and also capture people that are viewing women's swimsuits at the same time? Because we can customize a dedicated welcome series to those people, right? We can also look at if they get the same welcome message, one clicks on men's shoes in the navigation bar, one clicks on women's swimsuits, what's our second and third message we can deliver in their welcome series? So we're looking at optimizing. The same thing happens for cart abandonment. Do you have free shipping over $35 and is their cart $25? While our value adds that we want to promote in that message, now should be around free shipping and getting that average order value up. The $200 cart, you don't want to talk about hassle free returns or customer service guarantees. Things that will matter to them, not the free shipping because that's expected and already qualified. Also look at purchaser behavior. Are they a first time purchaser? Are they one-time purchaser now leaning toward the second? Are they a loyal customer? That might dictate your incentive strategy or how many messages you deliver to them. So there's all these different ways we can take these benchmarks and say, okay, what matters along the customer journey front? And how do we deliver it to them? And then we want to look at adding the other channels. SMS is that rising channel. So I think the important thing with SMS is, it's quickly becoming a must have marketing channels, no longer kind of, it's nice to have. Everyone texts, right? It's not the lazy generational cohort narrative that we've been hearing about for the years. I am a GenXer, I text. My parents are baby boomers, they text. Millennials are now in the young 40s, so they are texting. And Gen Z's are now in their young 20s. If you think about that, this young demographic, they're still young, but this young demographic in their 20s, everyone texts. So it's not a matter of if, it's a matter of when and we're seeing everyone start to adopt to this. Now what this looks like from our standpoint is, last year, we spent nearly 400% more SMS marketing messages than we did in 2019. That is a huge increase. But even so, you can see, a lot of times you'll see conversion rates or click rates start to decline as the more you use something. We're seeing the opposite, right? You can see almost quarter over quarter for the last two years. We're seeing those conversion rates increase. We have customers who are using SMS all across the board, different places, and I'll talk about that in a minute. Eat Me Guilt Free is one of those. They're getting a 33% click through rate under SMS messages. But here's where I look with SMS, I go when the rubber hits the rod, where are brands using it and our consumers using it? And if you're an ecommerce brand, you're looking at the Q4 Holidays, Black Friday, Cyber Monday. So how are consumers on this heavy inbox day, heavy promotional day, heavy social ad day, how are consumers adopting to SMS? And pretty well, the answer is. So Black Friday, Cyber Monday, those two days combined this past year. They sent more SMS messages than they did the entire November of 2019. So in two days. And then if you look at conversions this year, Black Friday, which was the number one SMS Sunday for us for the past year, 19% of all November, SMS orders came on that one day. So on the second busiest shopping day of the year, email inboxes are being flooded, email conversion rates are skyrocketing. Brands are sending SMS to come and cut through that clutter or send last chance messages. And they're converting extremely well for them. So when we look at SMS, how do we then capitalize upon it? Well, I mentioned add it to your workflows, right? So, in the same workflow, but we can capture if, are you an SMS subscriber? Are you not? And then we can customize our messaging. So maybe it's the last chance reminder for a welcome and setup. Or if we're expiring your shopping cart or whatever it might be, thanks for your order. We can now communicate with a customer via the channel they chose with a messaging and whatever they want, the way they want to be communicated with. For Omnisend if you're on a pro or above plan, we'll also give you SMS credits based on whatever your contract is for that month, whatever you're paying that month. So it's actually risk free, right? It's free at that point. Cart abandonment, give you an example of carrots, equestrian apparel, another customer of ours. They use SMS in their cart abandonment workflow. 15% conversion rate, earning per message right around three bucks. So it's working well for them. It's just about communicating with people at the time they want to be communicated with. And I think the important thing here is, we're not through this pandemic by any stretch of the imagination. But we're starting to get to a little more like life as we knew it. So as people start getting on the go, I'm booking vacations already or I'm trying to get out of here. You know, it's great on the go channel, because people are opting out there. You can see the caveat at the very bottom here. So if you're a cannabis CBD brand, US or Canada, it's going to be blocked. We expect this to begin kind of worldwide. So I would probably just avoid it if you're a cannabis and CBD brand at that point. But look for opportunities to use your SMS marketing in your automation, and you will use that marketing automation, you'll start to see some of those revenues. So again, it's all about using it to your advantage. These are opt-in channels, which means that people don't want them. They don't have to opt-in to them. So start collecting them, see how it goes from that point. And we also have an offer, you can see it on the screen there. So 30% off for three months on Standard Pro. There's the promo code, JUSTUNO30X3. If you need to contact us, my email is right there for you as well and Omnisend.com. So I'm going to stop sharing my screen. I talked really fast, but I got through it. So I'm going to stop sharing my screen to kick it back to you, Steve and over to you Chad.
Well, thank you so much, Greg. Massively appreciate that. I would concur about the SMS component and how important it is. I think about the attention that is received by your target audience. Everybody has their phone right beside them all the time. And you know, even post pandemic, people are still gonna be carrying their phones with them wherever they go. And that's one way of getting the attention of the customer. If it's a cart recovery, so it sounds like all the automation things can still all work as needed, along with the campaign side of it. So the flows and campaigns can all work from SMS. You can get all these opt-ins. One little thing to note too, that I that I just absolutely love about Omnisend is that, the brands a manager always worried about the fact that what happens if I have an email and I have an SMS opt-in? Am I going to be spamming these people? Or do they get the same message at the same time? And the reality is no, the customer can choose how they want to be interacted with. And so if it turns out that the channel of choice is SMS for them, then they can use SMS. And so there's never a worry. So for those listening today, if you've not kind of upgraded, so to speak, into a much more robust kind of marketing automation platform of email and SMS, they both work like synonymously together independently, and so you're never going to spam anybody. So that's really good news. Next up is Chad Rubin. As you can see by the slide. Now, I mentioned Chad is the co-founder of a company called Skubana, publish authors, interesting! Also I read recently, and I think it gave some kudos on social. There was an acquisition that happened recently with a company called 3PL Centrals with a very large 3PL company with multiple warehouses all around. And now they've integrated both their physical locations and the Skubana platform and their technology. So they actually kind of work together. So it's quite interesting. So I'll pass it over to you Chad and you can let us know more details.
Steve, I would love to catch up. Also wonderful introduction of all the members on this call. So fantastic job, wealth of information. Like Steve shared, I'm Chad Rubin, co-founder of Skubana, and also an ecommerce brand started back in, let's see, 2007 now. And today we're gonna talk about inventory. It's probably not the most sexy topic of all the topics. But you know what they say, is that what wins the game is not just a good deed often but a good defense. So for me, what Skubana is, and Steve comes from Shopify. And so we are this sort of peanut butter to their jelly. So if Shopify is everything that helps you make more money in the world, the digital shelf space, a point of sale system, Skubana is everything on the back end or the middle of the business. I call it the messy middle to run and operate the business. So it helps you manage multiple warehouses. Like he had shared, it helps you sell in multiple channels. And it's a system, it's a common operating language for you to actually scale and automate your business. We have a lot of Shopify Plus merchants on the platform. Rachel Zoe, Victoria Beckham, , some great and impressive DTC brands that also maybe start off DTC and we're now are actually going direct to everywhere, in some great retail brands that are now really doubling down on DTC. So we're going to talk about just some KPIs to track in inventory. And coming from the brand side, I can speak really, this is really close to my heart, because essentially, these KPIs are ones that I track in my own business today. So I'm not telling you what to do, I'm just sharing with you how I do it. So if there's a dashboard you're looking to build in your business to manage to, this is the place to look at. And so you've got you know, you look at your revenue percentage contribution, I don't know it geographically, but also have your SKU portfolio. Also your unit sales percentage changes. Today, we're going to focus on some of those along with the right hand side here, the rate of sale, which is your velocity, and your average inventory and your turns of your inventory specifically. So the first one we're going to get into is inventory turns. This is the what right? This is the formula to do it. But why should you care? And the more you turn inventory, the more you can convert that inventory into cash, because your inventory is tied up in cash. A lot of people see inventory as an asset, and that's how it's booked by your accountant but it really is a liability until you can turn it. So the more you can turn your inventory, the more you can actually reinvest in the business, and the more you can scale it. And if it's slow, if your turns are slow, you're going to be stuck with stale inventory, and you can't pump that money back into the business or even take dividends off the business itself. So it's a critical formula. And here's the you know, what you can pull out, right? Cost of goods sold. At Skubana, we track first in first out, cost of goods sold and you divide that by the average inventory value and pull all that out of Skubana to really track and manage your team to the proper expectations that you have for them and incentivize them on that. I've done a lot of research, and there's not a whole lot out there which is a sparked interest in Skubana to actually perhaps create like an industry standard, categorized based on, such as automotive parts versus clothing versus CBG. But essentially, this is the number that we found, is that essentially a good inventory turn ratio. And this is industry agnostic, it's somewhere between five to 10 for most industries. Which means that you're actually turning and restocking your inventory, replenishing every one to two months. To me, it almost sounds like just in time inventory, but not just quite. But this is a efficiency metric that you could be managing too. I think that's a little bit much for my own ecommerce business that I still manage today. But I think it's a great aspiration to manage too. And it really depends on the industry that you're in and how close your suppliers are. So a few things that you can do to improve your terms. So one of them I think is really important is product bundling. So taking a slow moving item and pairing it with a high moving item, one that has a lot of velocity can help you move and convert that stale item into cash then you can then redeploy into the business, and maybe decide to sunset that item. Changes to your marketing promotion, this is either going more heavy, and spending more, figuring out how to liquidate that item to just remove it from your stock level. Or perhaps even if there's not a whole lot of demand, maybe lowering the price, which will increase the demand for the product. Improving your replenishment, of course. And then lastly is like reviewing your portfolio of your SKUs frequently to figure out what those turns out are, what is the average turns in your business across the entire portfolio? What's the subset of that across the catalog itself? And then break that down and really stack rank your portfolio so you can figure out really where do you want to be deploying your capital. I think, as a CEO, and as a co founder, our job is to be a proper steward of capital, to assure the capital appropriately in the way that you see fit. And I think this is a great KPI to do that. Essentially, on our blog, and here's a bitly link, we actually have a calculator for inventory turn. So if you're wondering like, how do I do this? Should I do it? Should I not do it? Just throw those numbers into this calculator and Skubana will spit that out for you. It's a great way to just get a quick and dirty assessment on how you're doing and how efficient you are as a business. And you can see the bitly link here at the bottom. And then the last thing I wanted to share is, it's not just about turns, it's also about turning the right items. You can be turning very low margin items. But if you're turning high profit items, of course, you're going to generate a whole lot more absolute dollars for the business. And so we at Skubana, we have a SKU profitability report, which is essentially every SKU, every channel, no matter where you sell, we pull in all the fees associated with those along with the discounts, for example, from Shopify, all your fees, for example, from Amazon, and we create a stack rank report of your fee, your profit per stupor channel, including all your fees, including your shipping costs in one report. It's pretty amazing. It's what I call the mike drop report. Feel free to check it out. So it's interesting, you got to know when is the right time to reorder. And so here's again, the why we want it. We want to talk about the what but more importantly, we want to understand the why. And you wanna have a reorder point because you wanna manage your stock levels and your reorder points appropriately. You want to replenish your inventory to ensure that your business has a competitive advantage and an edge. Because if you run out of stock, you can't make money. And if you order too much, you've got that cash sitting up. So it's actually finding the right balance between that. And essentially, in the old days, you create a reorder point, and essentially, you're stuck to it, you're tied to it. It's not dynamic, it's static. And so this reorder point essentially is individualized, it's per SKU, and it should be a dynamic way. So Skubana actually will automatically create you a reorder point for you based on your lead time, based on the vendor, based on the cost, and actually do one more thing, which is create you a purchase order awaiting approval. So again, strong offense, strong defense and trying to figure out softwares that actually give you a competitive advantage, is very important. If you want to automate. And of course, there's my personal email address for those that want to respond back. And if you're interested, or if you want to even just chat, email me. If you're interested in Skubana, there's two months free. Just email me.
Thank you so much, Chad for that. One question I have before I pass the baton over to David over Wpromote, what sort of sweet spot do you find of a merchant that would get the most value? Let's say someone that's more in their early stage of their journey, is there a certain sweet spot of customer that you feel can get the most amount of value out of the insights that Skubana has available to them?
Yeah, so for us, we're not entry level software. So as your business scales and as complexities increase, we thrive on complexity. So if you're on multiple warehouses, where you have multiple channels and you're trying to manage that efficiently and balance your inventory across the appropriate warehouses, you're trying to create purchase orders and understand your velocity across those channels, that is where Skubana fits in. People come to us typically where they're like, okay, my systems are broken, I either need to go big with something like NetSuite or I want something that's nimble and agile, that's strong, that's intuitive, like Skubana, it's more modern. And so that's typically where we're positioned.
Thank you for that clarity. So next up is going to be David Dweck, who is the VP of paid media for a very large agency partner called Wpromote. And we're going to talk a little bit today about just return on adspend. What's been happening, I believe, since iOS 14.5, iOS 15 now and now things going on with Google. It's so interesting in this world and just the unique angles that Wpromote goes on, to really help their businesses and their brands to grow and scale based on ROAS. And so David, I'll let you take it away.
Thank you so much, Steve. Yes, I'm David Dweck, VP of Paid Media over here at Wpromote. I want to go through a couple quick things revisiting ecommerce benchmarks in the New World we're living in terms of tracking and privacy. So, the first thing I want to talk about is creating a roadmap to improve ecommerce measurement. So as marketers, we spend a ton of time over here on the left. We spent a ton time telling our consumers and brands that clicks really matter, and they should be focused on click measurement. After that, conversion measurement, making sure that we actually pixel sites and track everything. We've gotten to a place kind of here in the middle where a lot of brands are tracking revenue and return on adspend. What we like to do is to take things a bit further, which is profit modeling, with ecommerce measurement. So we've got to the point now where we can measure gross profits return on investment at a macro level. So not just return on adspend but taking in other factors through some of the data sources and API's we have. And we've had success in taking clients to what we've deemed to be the holy grail of ecommerce measurement, which is customer equity and predictive customer lifetime value for some of the models we've built. So what we're able to do is take ecommerce feeds that we're running campaigns for across Facebook, Google, Amazon, etc. And custom markup different columns within our feeds to make sure that we're actually optimizing and telling the search engines, social networks, ecommerce marketplaces, to actually optimize towards customer lifetime value. We've gotten to a point now where AI and automated bidding is extremely strong across all the partners that we're running ecommerce campaigns with. It's now getting to the point where to continue have a leg up on the competition as an advertiser, you really should be pushing more towards customer equity, predictive customer lifetime value. So that way, you're a step ahead, you're not just bidding on, potentially getting to bring somebody back in the fold based on return on adspend who might be a current customer of yours that has already converted, spend their money on new customer acquisition, or customers who are going to spend more with you over the lifetime of customer of your brand. So ultimately, this is kind of that measurement journey. But we want to see more and more brands moving further over to the right, where they're looking at gross profit, customer equity, and then ultimately, predictive customer lifetime value as a measurement source. Taking things a step further, we often get a ton of questions from our clients. What else we should we be looking at to measure the efficacy of our campaigns? It goes beyond just one metric. If its role as customer lifetime value. whatever it might be, there are other proxies that indicate success and other proxies that will help brands expand and scale their campaigns. You know, when we look at and talk to our clients, a lot of them are all measuring ROAS, right? We've gotten to the point where clients are now measuring return on adspend very effectively. When we take things a step further, and ask customers and even our campaign managers how to optimize our campaigns if ROAS drops off a cliff, there's very few people who are set up to do this well. And that goes back to how they're thinking about their campaigns as a whole. So taking a step back, marketing is beyond just that end result. We want to see clients and advertisers really getting a grounded understanding of who their customers are, what actions they're taking on their pathway to purchase. That way, we can do a better job of messaging what we have as a brand to consumers, right? So if we know that customers are hitting three product pages before purchasing a product, we know that we should probably optimize those pages to offer more cross-sell opportunities to drive the purchase a bit quicker or offer more, a better product diversification to increase your cart size. So what does it really look like? We like to call it ecommerce gamification at Wpromote. So what we're looking for is, to drive more insights, strategy and outcomes via revised measurements. So we're trying to go from optimizing and measuring a few meaningful KPIs to optimizing and measuring more proxy KPIs, which will help uncover trends, efficiency and scale for any brand running campaigns across paid media platforms. So what does it really look like? The current format, again, we're talking about advertisers who are measuring mainly sales revenue, average order value, return on adspend as their main proxies. The evolution we're trying to take here for our advertisers is adding on additional proxies. So the main four, but also things like how many people are adding products to their cart? How many started the checkout process? How many visited three plus product pages, visited the FAQ page? Performed on-site search is an amazing proxy we've seen for driving outcomes of conversions. Percentage of new visitors to your site, percentage of return visitors to your site. All these proxies will give a really good sense of how effective your campaigns are. But more importantly, you can leverage these, create a weighting system for these proxies. Actually look at a more holistic view of outcomes and actually optimize a bit differently. So from a formula perspective, we're talking about as really going from the old, right? Revenue divided by cost to something that's a bit different, something that's been more nuanced that will give advertisers a bit more back in terms of the measurement they're getting from their campaigns, but also the ability to scale their campaigns in other areas where we're seeing those who view three plus product pages, are about a quarter of a value for those who've converted. So, right, it's like we should optimize towards that angle. But we've optimized now, measurement to the place where we're looking at ecommerce measurement that includes revenue, those who add products to their cart, PDPs, those who started the checkout and then dividing all that by your cost to give you a new proxy for overall success. So really, we're trying to report on overall revenue, overall engagement and outcomes that are being driven through ecommerce campaigns. It goes well beyond, again, just revenue and ROAS as measurement. That is a pathway, really down a dark hole, where you'll optimize it to a place where you're not seeing much more growth. You wanna get clients expanding out of that. We're phenomenal driving outcomes based on ROAS, but it's far more difficult to drive both efficiency and scale, and this is an approach that we've seen work really well for our ecommerce advertisers the last couple of years. So from a scenario standpoint, worst case scenario, you know more about your customer, what actions are driving from their campaigns. And that's really the end result already. The worst case scenario, you've learned a lot and you move forward. Best case scenario, gamification helps improve performance. This is what we've seen across the board for our clients. And not just any commerce, for lead gen, subscription-based services. Anything that has a direct result and outcome, we're able to measure more effectively through additional proxies. So gamification works. So one of the main trends last decade, take advantage of for your advertising purposes. The last thing I wanted to touch on was around updates for iOS 14.5. As one of the largest agencies in the US and the largest advertiser on Facebook, we've unique view into performance since iOS 14.5 rolled on Facebook. So we want to kind of share some of what's behind the curtain on this webinar, and to give you guys a sense of really what's trended since iOS 14.5 rolled out. There's all this doom and gloom speak, a lot of people prognosticating about what would actually occur. So our data set is pretty statistically significant. It goes across every industry that exists. It goes from clients who are spending $500 a month with us to clients who are spending over $5 million a month. So it spans the gamut across industries and spans to give a sense of what's going on. So I didn't send magnifying glasses to everybody who's viewing this. So don't worry about trying to read any of this on the left. But the main trends we're seeing since iOS 14.5 rolled out, in April, is ROAS is trending downward. It's not significant, but we are seeing softening in terms of both return on adspend and cost per action, which is trending in the opposite direction upwards, but in the negative direction. Oddly, conversion rate is trending up though in the right direction. We dug into this a bit more thinking that it mainly has to do with better targeting. Specifically with custom audiences and first party data, we're seeing conversion rate increases specifically from these audiences where you have really strong first party data. We've done a lot of work with our head of marketing or email marketing, Mike DiBella. tying first party data that's collected through email into Facebook more or far quicker through Justuno and other platforms like that. And it's definitely helped drive results for our clients. But we're definitely seeing custom audiences and first party data work really well even in a post iOS 14.5 world. Our thing is that since Facebook has four fewer signals optimized off of now, that the signals advertisers are providing to the social networks are actually driving significant results for clients. So focus on there. And then from a delivery engagement standpoint, CPMs are going up, CPC is trending down. So the cost to target users effectively and the volume is still there. So there hasn't been a positive advertisers, or advertisers fully in the platform. There are still a ton on the platform, actively trying to advertise. What we are seeing from this, though, is that again, our inference is that Facebook is still trying to figure out how to effectively target people. With CPCs specifically trending in the wrong direction, and CTR trending in the wrong direction, our inference is that Facebook's ability to know which users are going to drive which outcomes for advertisers, has gone down a bit. So they're still trying to figure out their own algorithms to get back to the place where if you have a campaign optimized towards CPCs or reach. Sorry, towards clicks or reach, that those are optimized effectively based on the signals Facebook has. So definitely a work thing and a bit of a signal got there on the Facebook side. So what can we do? Diversify platforms, right? So get off of trend, take some of your advertising dollars in social roll off of Facebook, on places like Snap where we've seen a ton of success, TikTok right as well. All emerging platforms where we've seen DR campaigns performance extremely well. Activate Instagram shops, Instagram checkout for more of a closed loop advertising shopping journey. So keeping their experience within the wall garden of Facebook and Instagram has worked extremely well. Again, increasing the use of first party data. Integrate as much of your email campaigns SMS campaigns, try and pipe in as much first party data you have into the Facebook platform. It works extremely well. And then activate a full funnel strategy on Facebook, make sure you're targeting people based on the signals Facebook does have, right? So first party signal is great, but Facebook is also great for doing, you know, retargeting within their walled garden, within their platform where you can actually re-target people based on video views, impressions, clicks, and trying to use those signals to push people down funnel versus the ones that we've all relied on as advertisers and the algorithms we've relied on as advertisers. So that's the last piece I got to touch on. I don't have any deals to offer, but you're welcome to email me and talk to me whenever you like. If you're a brand looking to grow, we'd love to start a conversation and see if it's a match made in heaven. So thanks Steve and the Justuno team for having me on.
Yeah, great. Thank you so much, David for sharing that. It's nice to have just in time information about what's actually going on. It's nice to see that it's not all doom and gloom when it comes to iOS 14.5. Because then that's been on a conversation of a lot of the brands that I deal with. And you see a lot of content being produced around the web, sharing what they believe is going to happen. But now, with you being the largest kind of digital marketing partner in the US, it's interesting with the amount of data you have and your own proprietary kind of data warehouse, you're able to look at all this data, and you're proving it right now with magnifying glass. But the fact that it's actually not as horrible as you think. And, you know, the reality is that, think about your first party data. I think it's one of my takeaways I'm thinking right now, is that if you're more of an early stage company, and you feel that maybe things aren't, your return on adspend isn't as great as you hoped it would be or should be, one thing you might want to think about is your retention strategies, and how you're dealing with what's informations inside Shopify? And can I maximize lifetime value of my existing customers? And can I trigger through Omnisend? Can I find out and trigger certain events based on their journey or their life cycle? There's RFM, recency, frequency, monetization strategy? So I think there's some opportunities available to the data that's inside Shopify, but as it relates to how you're interacting with your existing customers. The top of funnel is another interesting conversation for another webinar, about how do we add scale, and I think that's what Wpromote does well, is trying to understanding, it's more than just clicks and these sorts of things. It's much more about the trends are going to where things are headed, and then be able to sync up to other platforms and have a more diversified approach or a more omni channel or a full funnel kind of approach to all the channels that are out there and try and test with TikTok and all other platforms. So that's pretty cool. So thank you so much for sharing that. So last, but certainly not least, I would like to introduce Steph Carcamo. I wanna make sure I have the name correct. But she is the customer success strategist for Justuno. And I think she's going to talk a little bit today about the platform itself. And exactly, I guess the main benefits of why someone would want to use the Justuno platform. They connect to a lot of the most popular CMSs out there, Shopify being one. What's interesting, though, is, the platform itself really helps you acquire both email and SMS opt-ins, but has a lot of other pieces of the puzzle. There's even a Justuno plus feature now available, where you actually get a strategist and someone who can actually help you with machine learning and some AI benefits that they have built into their platform. Very, very interesting. So I'm excited to learn myself today about the latest and greatest when it comes to Justuno. So, alright, Steph, you can take it away.
Thank you so much, Steve, and thank you, everyone. I have learned so much so far. So looking forward to continuing this. Let me go ahead and share my screen here. All right, awesome. Thank you, Steve. So yes, today I'm going to be reviewing the benchmarks associated with pop-ups and ecommerce. And pop-ups can mean a lot right now. So I'll go ahead and get into this. So starting out, we have pop-ups by type. So that can be style and location really where we're presenting these promotions and messages. Of course we also have pop-ups by offering purpose. So another way to think about how best to present anything that is really intriguing or makes sense for a visitor to see. And then, of course, we do have notes on mobile versus desktop. Majority of our visitors are exploring on both devices, and it's really great to see how they're behaving on each device. All right, just a quick snap shot of the data that we have here. And this is really what we're pulling our recommendations from, as strategists. So we can see average time on site, average page count, this is all data that we're able to see in the backend of a Justuno admin. And we can be very specific related to the type of visitor and the type of traffic source that they're coming from. So starting off, pop-ups, we want to think about location. So choosing the place where your pop-up is really going to be the best fit for your website, and how you want to show yourself to your visitors, as well as knowing when really to showcase that message to that specific visitor. So criteria that we want to think about, the message itself, is this appropriate for that type of visitor? Is there any kind of offer related to that? Of course, our target audience. Right now maybe a first time visitor or a seasoned shoppers where we're at, we can get really granular based on their previous purchase, or a very specific product that they might have had, even down to the number of visits, of course. And then how aggressive would we want to be? Do we want to have an action there? Like in this example, we see a coupon code, or is it more just to be informative and give more of that value, proper social proof. Again, that goes back to what is this visitor, what got this visitor here, and ideally, what's going to keep them there in order to convert. Alright, so just a quick snapshot of some numbers that we have from our benchmarks report, based on location. So when you think about a website, you know, we do see the banners, we do see center promotions, and then we get sides and corner promotions. So when you think about and when you look at this engagement rate with this conversion rate, it's important to think about what kind of engagement you're wanting to get here. So a banner, maybe that's just a coupon code that we have. That conversion rate, we would like it to be a little higher in that case. If we're looking at a center promotion, maybe that engagement is an email capture. And thinking about if we have an offer related to that, and then also looking at how that might impact our average order value. Again, with the location, the more that we are more aggressive and showing that promotion, whether it's a center promotion, or a banner that's just existing on your website, the more engaging it will be. And that's because it is right in your face, and it's meant to elicit that engagement. Why we do have those center pops as the most popular locations maybe to place is because of that higher engagement. Other locations that we see do tend to have that higher rate of conversion. And that can just speak to the quality of the lead that you may be getting, the value of that lead if we look at an average order value at the end of that. And knowing that, okay, sometimes we need to look at that conversion rate overall rather than engagement. And it comes down to knowing your KPIs in that. So what is the goal of your promotion, and what is the most effective way to deliver this message. Thinking through that, there may be many options to this. A/B tests that. That's a feature that's within Justuno and it allows for effective testing. In that kind of testing, you want to look at around 30 days, maybe 10,000 sessions depending on your traffic level just to get a good sense of how visitors are behaving in a month considering paychecks and how they're spending their money. I know the pandemic has thrown a wrench to how how people may spend and is causing just different spending habits in general. So we're looking at SKUed results in a way but it's, a lot of people are learning during this time too. Learning how they want to shop and different ways to shop. So just something to consider when you're thinking about intent. All right, pop-ups by purpose. So messaging, so that would be a no form included. And then another purpose could be for a lead capture. So everyone's touched on that quite a bit, and I love that because Justuno is such a great integration to enhance that information that you're looking to pass or take advantage of. So lead capture can be anything from email, SMS, Gatsby sending over that information related to influencers. So anything that you're wanting to capture as far as information, can sit under this lead capture, and we do see engaging rate, conversion rate and average order value here. So keeping in mind that this is a great example of seeing our lead capture had lower engagement overall compared to a no form type of pop-up. But conversion rate was at 35.5% and even a higher average order value. So understanding what will really increase that engagement, if that's the goal. You know, we want to build our list. I'm so down for that. And I think there's a time in place to really want to build on that, and then to move over into our conversion and average order mentality. So a few examples for us that I wanted to call out and just wanting to point out what the purpose may be here. And these are different companies. You can use this kind of setup in different ways. So for example, this first one, we're looking to get an additional 10% off when you choose a color. So we already see that with Quilt Cover. Okay, so this one has, potentially they have an item in cart, and we're looking to provide another offer to them. We're already giving them that next, oh, apologies. We're already giving them that next step here. See, I wanted to click on it to choose my color. When we're getting that next step and just a little bit more insight, making it a little easier, that's going to increase our engagement, as well as just being really clear on what our offer is. So this is something that could be firing whenever someone has something in cart. They could have already purchased a product before and maybe we're welcoming them with this kind of offer. Moving on, we do have our add a money clip. So this looks like it's taking us directly to a product page or maybe a category page. So depending on what they already have in their cart, this would be a really great, just a way to explore and highlight other products in your line at the moment. All right, just a second, get 15% off when you sign up today. So just a second, this could be used as our welcome in that lead capture. Of course, we could A/B test this and incorporate that, ask for their Instagram handle and send that on. And then see how many coupon codes are used with that by setting up a static coupon code and then tracking that at the end of around 30 days. Over here, we've got try your bag 30 days risk-free, return to my cart. So this is telling me I already got a product in my cart. Looks like I was attempting to leave and I'm trying to be directed back to my cart. This is a full page takeover. So we could say it's a little bit more aggressive. But overall, we're giving them that 30 days risk-free. It feels like an offer, it feels like this is something that's valuable to this specific visitor, instead of maybe a 10% offer, for example, a great thing to test with your different segments. Alright, so a few examples of by type when we're thinking about pop-ups. So these are more just, you could use these as a template when you're thinking about building out these really unique area or really unique touch points. So we have location for lead captures. Ideally, we're sticking around a center pop-up designed to capture attention, target audience, new visitors likely to purchase in stages with low intent. And our messaging can really vary dependent on what our newsletter or what our cadence is really about. Moving on to shipping thresholds. This is really great to tell the visitor, where they're at, how much more they have to go. It almost feels like a game on-site as well, not as invasive. We're thinking more of a banner in this case. And then letting them know as they are adding to their cart, how much more they have left. And last, a really great one is social proof. social media is everywhere. So of course we want to have social proof. The corner slide and pop-up is ideal for this one. It's someone that is really interested in your site, maybe looking around wanting a little bit more information, comparing prices maybe. And we want to give them the idea in the sense that others have purchased here, they have had success or have liked the product. And this might be a good fit for you too. So not as in your face, but helpful along the way. All right, so by offer, a few stats that we can check out. Offer type, if there's no coupon we have around a 13% engagement rate. If we do have a coupon, we see that increase in engagement. So people are just ready to click on that coupon code or ready to use it. Conversion rate, when we do have the coupon code available, we do see that higher at 34.46, and our average order value is lower. So in this sense, I would say, okay, our coupon code had impact on that and thinking, is that okay with me or with the company? Or are we looking more for that engagement or conversion here? And then by offer. So on average promotions with coupons codes do result in higher engagement and conversion. So when we're thinking about this offer, we want to think about that type of visitor and what really fits for them. That goes back to what have they purchased before, what ad are they visiting from. We can use that UTM and target them very specifically. Maybe it's on welcome, or maybe we save that offer for an exit, because we see that that source from paid media, whichever it may be, has that higher exit rate or bounce rate. So targeting those specific moments of that specific visitor, are really ideal and where this offer comes into play when adding it to your coupon. Alright, and then when we think about by style, first, here on the right, we see so many different options. And style is really about how you're presenting it within the coupon. So for example, we have timers add that sense of urgency. Spin-to-wins, we also call that gamification. So it's just a true game that you're playing on your website, or that a visitor can engage with. Anything from getting an offer to a free gift. A tap-to-text, that's on a mobile device. And with that, we're actually able to have the visitor open up their own texting app, and send the message to opt-in, to SMS. So very interactive in that sense. We can look at text-ticker, slot machines. Style is really dependent on what you think your visitors will be most likely to engage with. Maybe it isn't so much of a spin-to-win. Maybe just that timer is going to be enough for us. So a few different numbers to look at here. Engagement rate, conversion rate, average order value. When I'm working with clients and strategizing, what kind of style do we wanna go for? We're always open for an A/B test. We're always thinking what visitors may want and how they are behaving. Some clients have this data readily available. Others we have to do some testing, and use some forms within Justuno to learn more about that visitor and know which style ad may yield either that higher engagement, or even average order value. So touch on this right here for mobile versus desktop pop-ups. Those experiences are different naturally because of the design and because of the features that we have associated with each one. When we see that mobile coming into the ecommerce world as a place where you can really go to research and convert, we don't see as many converting when it comes to those bigger purchases on mobile. So it's more of that perhaps they have a comfort on your desktop version. Perhaps mobile isn't really where it needs to be right now to also get that conversion for us. So considering where they're making that purchase, or where they may be having trouble making that purchase, is a great start to consider what different offers to have, or what different styles of pop-ups to have on each version or device. A few different numbers for us. On mobile, we see conversion rate 25.53, and desktop around 38.46. Everyone's different in this for sure. You know, more people may be browsing on your mobile. Sorry, purchasing on your mobile and browsing on desktop. This is where those unique messages and looking at engagement really comes into play. So back to desktop pop-ups. This is a great one to have. You know, desktop has been around and it's something that we have been optimizing. And we see that those that engaged with a desktop pop-up that contains that form, usually are converting at a higher rate compared to those desktop experiences that do not have a form or those pop-ups that do not have a form. So when I think about this, it's a really great way to take advantage of that really full display of what your brand is, on a website. Mobile is amazing, and it's growing as far as what you can do and the access that you have as far as apps and able to purchase within social media as well. So thinking about desktop should not be something that's forgotten. It's absolutely somewhere where we can gather more data, learn really more and more about our customers and visitors at the end of the day. So we did mention before that we have our Justuno plus program. And what that is, is it allows you to work with a strategist, more hands on in that setup to assist you with those integrations, assist you with A/B testing, and also providing that level of what's really working with other clients and what we're seeing as trends. So if you have any questions, feel free to send us an email, or reach out in any way. Happy to help.
Thank you so much, Steph. I really appreciate. This has been like, you know, I look at my notebook here and I've scrambled down so many notes. I've learned so much. Just life of learning, right? I mean, that's kind of the whole process of just being an entrepreneur, is that you just have to always just grow and learn. And, you know, I actually went and printed off this little paper. As soon as we were talking about it, I thought, wow, this is really powerful stuff. Learning about pop-ups and types and examples. And you know, from lead captures and shipping thresholds and social proof. This is the kind of information that can differentiate your brand and it is worth A/B testing, and that's why I think Justuno has got it right on the money. And I'm going to be sharing this with the brands that I manage. So this is pretty much the wrap up for today's webinar. Thank you so much. I know we went a little bit longer than anticipated, but I'm hoping that you're getting a tremendous amount of value from all of these partners that came on today. Gatsby, incredible tool to understand your social footprints and be able to work with these influencers. I think this is fantastic. Obviously Omnisend, thanks, Greg. SMS and email is still a necessary channel. Skubana, for sure. Thank you so much, Chad for sharing everything you do with your platform. You really are the back office to really help scaling brands to understand their inventory and routing and purchase orders and all that. It's really interesting. If you're at a mid-market brand ready to scale up, Skubana is worth for you. If you're not a DIYer, so if you're not doing your own marketing, then Wpromote. I would highly recommend you have a look at what Wpromote is doing. They have the ability to work with early stage brands also. They do also the largest brands in the world, but they're there for you to help you with even one part of your marketing strategy. So certainly worth I guess to kind of go and talk to them and see what they can do to help you. And then finally, obviously, Justuno I just want to thank you again for getting all of these panelists together. Thank you for just getting it all organized. I think one takeaway, the note that I put here is that, I believe that, for those listening today, if you feel that your kind of resources or your human capital a little bit scarce, there is some scalable ways of using some technology and, or outsourcing to some agency partner to kind of help you with your marketing strategy. And so hopefully, that's what If you have some takeaways for today from this webinar is that, there's some great platforms and there's some great partners that are able to help you. And Justuno being one of them, along with these five others. So once again, thanks everybody for joining and we look forward to seeing you on the next webinar.
Thank you everyone, that was great.
Matthew Rickerby is the Director of Marketing at Extensiv, the leading solution for multichannel, multi-warehouse D2C brands. For the past ten years, he’s covered e-commerce topics ranging from SEO to supply chain management.