Q4 Updates: Perfecting your “Recession” Marketing Plan with Ian Hammersley (episode 113)
by April Buencamino-dyIan Hammersley is one of the Hammersley Brothers, Author of the brilliant and bestselling book “Ultimate Guide to eCommerce Growth”, CEO of Smartebusiness, and dabbler in running eCommerce stores too!
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Move Your Budget
Even if margins are tighter and costs have gone up, don’t cut your marketing budget. Instead, move your budget and you’ll get an instant effect.
You still need to acquire new customers, and you won’t be able to do that if you cut your budget.
Cut Discretionary Spends
If you bought a lot of apps and tools over the last two years, it’s about time to evaluate if they are still worth the spend.
Because you’re faced with the reality of a declining ROAS, your margin is going to make a difference. So take a look at the applications you use and cut out the ones that are doing nothing for the business.
Market Square Test
Do the market square test by going into Google and looking at the competition.
Find out their delivery time, their offer architecture, return policy, warranties, and other significant factors that affect how your brand performs versus theirs.
Doing basic market tests is going to be a good use of your time.
Busy Restaurant Test
The busy restaurant test is something that Ian and Mark came up with.
Take a look at your business, review your website, and check that you have the basics covered. Make sure there’s enough social proof showing customers enjoying your products and that you’re doing well as a brand.
Update Your Messaging
Check the market and analyze your competitors in terms of their customer reviews.
The information you get based on the different areas their customers comment on – value for money, delivery time, quality, etc. – will help you determine your own marketing message.
When you have your key message, make sure it’s clear on your product page and it’s going to make a big difference.
Insider Tips
Newbie advice: If we’ve inspired someone to take their first step – what do they need to know to give themselves the best chance of success?
Ian gives several tips:
- Look at the math and understand it.
- Find out how you can be a disruptor and offer something different.
- Don’t be too precious about your brand.
Once you’ve started of course you’ve got to ‘keep optimising’! What’s your favourite way to improve performance?
Focus on these two questions:
- How much does it cost to recruit a customer?
- How much are they worth over a lifetime?
You’ll be able to scale your eCommerce business by being able to buy traffic profitably.
If someone listening wants to learn more about this is there one cheap/free resource you’d recommend? {
Ian recommends Chloë’s podcasts as well as the book he and his brother Mark wrote called Ultimate Guide to eCommerce Growth
Crystal ball time – what’s coming up in the next 6-12 months that we should be getting ready for?
Ian mentions two things:
- TikTok and Facebook Groups further monetizing their platforms
- SMS Marketing being used more for both acquisition or retention
Interview Links
- Visit the Hammersley Brothers website
- Grab a copy of their book, Ultimate Guide to eCommerce Growth
Ian on Social media:
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