2022 was another big year in marketing. With our combined experience, several 7 figures in ad spend, and global expertise, we’ve experienced a lot. From the new technology updates to the importance of company structure, these lessons provided big growth for us and many of our clients. Here are some of the top lessons learned in eCommerce marketing in 2022.
Know Your Numbers
Key learning lessons from 2022 related to the online business space, especially for eCommerce and Direct to Consumer marketing is to know your NUMBERS! Whether it’s COGS, CPA, AOV, Software, or ROI per channel, it is so important to know your numbers. This will help you not only to make better business decisions but to understand what parts of your business need attention, and where you can grow.
Data Tracking & GA4
2022 highlighted the importance of data tracking and finite data. This means really breaking it down, and utilizing UTMS when needed. Secondly, the importance of setting up and being an early adaptor of Google Analytics GA4.
The Right People in the Right Place
A key learning lesson from 2022 has definitely been to have the right people in the right place. Not only does that help the business grow in the timeframe that they want to, but it also makes the workplace so much better when they have someone doing what they are passionate about in the department they want to be in. It is key for leadership to understand what the roles are for people and get them there efficiently and effectively.
Influencers
The first big learning lesson from 2022 for me, is that Influencers are changing the space of marketing and advertising going forward, and if you aren’t using them to advance the selling goals of your business, you might start to get left behind!
Consumer-to-Consumer Marketing
An explosion in UGC happened in 2022. TikTok is flooding with new people and more users every day. That is where users are and advertising needs to follow suit. A big learning lesson was taking consumer-to-consumer marketing seriously. Almost 50% are people on camera doing C2C marketing and leaning towards UGC to make their marketing successful.
– Dan P.
Big Wins Come From Big Risks
Sometimes you have to be aggressive. When you see the opportunity you have to take it. While it can be uncomfortable and nerve-wracking or even risky, that is also where the biggest wins are. The biggest lesson for marketing in 2022 – sometimes you have to shoot the gap!
Consideration of the WHOLE Customer Journey
In eCommerce, Direct-to-Consumer marketing, we can get hyper-focused on the conversion rates of the funnel, optimizing upsells, increasing AOV, and improving click-through-rates. These are all important parts, but taking a step back and looking at the customer’s journey at a high level will serve your business much better in the long run. From the first time they see your brand or product name, to them referring friends as loyal customers and advocates of your brand, every part of the customer’s journey through your brand should be intentionally designed and measured by you to help improve their experience and your business growth overall.
Summary Lessons Learned in eCommerce Marketing in 2022
So how can you implement these lessons learned in eCommerce marketing in 2022? Get the right tools or hire help to know your numbers and track your data. Those lessons go hand in hand and make the difference between a stressful 6-figure business and a thriving 7 & 8-figure business.
Ensuring your team is performing optimally is another key lesson for a growing business. Check-in with your team, is their cup full? Is there some other kind of work they want to be doing? Supporting their personal and professional goals can pay huge dividends to your business performance as well.
From the creative side of things, influences and UGC are becoming increasingly important in the eCommerce space. This growth of consumer-to-consumer marketing is something for businesses to pay attention to. Looking into influencers or sourcing high-quality UGC content for your marketing.
How can you implement the learning lesson of taking big risks? You’ll know next time you see the right opportunity. And finally, how to improve the customer journey? This comes back full circle to knowing your numbers, and lifetime value (LTV) is a great place to start.
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