Highlights from DTCX Global October 2023

I had the chance to attend the 2-day DTCx6 Global’s virtual conference last week and heard many different industry experts share insights on all things eCommerce. In this blog post, I'll dive into the big topics discussed during the 2-day event and highlight some learnings and strategies that will help marketers and brand owners succeed in this ever-changing market.

Three Recurring Themes

1. Customer Journey as the Core Strategy 

The customer journey has emerged as the cornerstone of effective marketing and was mentioned in almost every session I attended. It should serve as an anchor for how you tailor your marketing efforts and pinpoint what, where, and how to reach your customers. More on this later. 

2. Hypersegmentation

Segment and segment again – the theme of more tailored messaging came up again and again. Relevance with highly personalized marketing campaigns will resonate better with your customers.

3. The Rise of AI

Artificial Intelligence is transforming the marketing landscape. Big players are heavily investing in AI to improve customer experiences and streamline marketing efforts. Marketing agencies and businesses should consider adopting AI tools to stay competitive. 

Topic 1: The Future of E-commerce

Several speakers mentioned how it’s become more and more challenging to grow a DTC brand–from the beginnings of a recession to post-IOS14 and pandemic reality–brands (and marketers) need to work harder and smarter to succeed. To navigate these challenges, simplify your tech stack to reduce costs and centralize data to make things easier to manage. He also recommended a short list of AI and Martech tools to help improve processes (see Martech and AI). 

Topic 2: Paid Media Strategies

When it comes to paid media strategies, it's essential to go beyond simple Return on Ad Spend (ROAS) metrics. Instead, consider metrics like Ad spend/Total Revenue to understand campaign efficiency better. Map your campaigns against the buyer journey and categorize your business as "search-based" or "brand-based" to prioritize accordingly. For long-term success, focus on Customer Lifetime Value (CLV) and attracting net new customers. Layer in customer modalities to strengthen messaging and value proposition. 

Topic 3: Engagement, Retention, and Abandonment Strategies

Hyper-segmentation came up multiple times across different sessions, especially as it relates to CRM. Having automation such as Abandon Cart or Welcome Flow in itself is no longer sufficient. Further segment automations like breaking out welcome recipients based on where customers signed up for your newsletter. Data collection and application was another key element. Leverage click data in follow-up messages, and collect more data by surveying customers on why they made a purchase.

Other strategies to improve retention include increasing the attractiveness of promotions through tactics such as surprise and delight, gamification, interactive content, and scarcity. 

To re-engage customers who have lapsed or abandoned before purchase prevention over reaction is crucial. Collecting zero-party and first-party data, using Martech platforms to be more effective at keeping interests high will extend customer interest. Adjust your Abandonment flows to include promo or seasonal messaging instead of relying on BAU flows (e.g. Mother’s Day gifting message). 

Topic 4: BFCM Preparations

BFCM is just around the corner so several speakers covered topics around how to best prepare ahead to get the most out of this Holiday season. One thing several speakers all spoke about is hyping up the sale. From capturing presale emails (and SMS) to sending messages ahead of the sale, it seems equally important to create excitement about the sale vs. generating awareness during the sale.

Something else to think about is the post-purchase experience – are there upselling opportunities, do you treat BFCM customers differently than BAU customers, etc.

Another area to think through in detail is how to customize a customer's experience based on what type of shopper they are. During this time, most people either come to you as a Sale Shopper or a Gift Shopper. Understanding which customers fall under what category can help shape how you design your landing pages, messaging, ads, and more.  

Topic 5: Martech/AI Tools 

Here is a list of Martech and AI tools mentioned by various speakers during the event. I provided a brief summary of the solution they offer. 

https://fenixcommerce.com/ Delivery Management: Estimated Delivery Times, Multi-Carrier Shipping Options,

Post Purchase Delivery Status

https://copysmith.ai/ SEO-Optimized Product Content at Scale

https://www.trypencil.com/ AI Ad Generator 

https://kromeimagelabs.com/ AI Optimized Design/Visuals

https://www.triplewhale.com/ Data Attribution, Merchandising, Forecasting

https://www.syte.ai/ Visual Search/Shopping Capabilities

https://www.gorgias.com/ Centralized Customer Service Platform

https://www.zembula.com/ Dynamic Content Blocks for Email 

https://www.blackcrow.ai/ AI Optimization for FPD on Shopify 

https://www.nosto.com/ Using AI to personalize shopping experience 

 https://www.becauseintelligence.com/ Dynamic messaging with Klaviyo 

https://ecommercetech.io/   Database to search and compare eCommerce Tools 

Interested in discussing more in-depth about these topics and how to set your brand up for success? Reach out to yanxi.du@elle-media.com.