Hey you, Good Friday Morning,
It’s the pride month, and here’s a reminder for you to be proud, respectful & supportive this month & every month :)
We are all for love❤
In today’s edition:
- A Playbook To Help You Increase Your Customers’ Average Order Value
- How is marketing supercharging GAP’s sales during the pandemic?
- Advertisers flock to Android as iOS privacy feature bites
- Hand-picked tool for the week: Google Keyword Planner
The new-age Marketing
A Playbook To Help You Increase Your Customers’ Average Order Value
AOV, also known as average basket size, is a success metric that helps gauge your efforts in marketing, advertising, sales, and customer experience by representing brand engagement through a dollar amount.
Here are 5 smart strategies to increase your AOV:
- Upsell at key moments in the buyer journey: Upselling is when you give customers a compelling reason to increase their spend when they are already shopping in your physical store, restaurant, or online store. By finding ways to add value to a purchase your customer already wants to make, you can encourage them to spend more in one transaction. Aim to reach customers when they have already decided to spend money and are excited about their purchase.
- Cross-sell products that show you understand your customer: Weave cross-sell messaging directly into the browsing experience — on shelves, your menu, or product pages on your website. When customers view the product page for a coloring book, for instance, include a promotion for a box of markers. Leverage social proof with phrases such as “customers also like” and “customers who looked at this item also purchased ....”
- Set up a loyalty program with spend thresholds: Reward your loyal customers and give them reasons to keep coming back. Loyalty programs are an excellent way to give free gifts, samples, and other rewards to customers when they meet certain spend thresholds.
- Bundle products together to encourage larger basket sizes: Make it financially worthwhile for customers to bundle products together. Bundling encourages customers to spend more in total by offering a lower price on each individual product within the bundle.
- Give something away with a minimum purchase amount: One effective way to boost AOV is to offer free shipping with a minimum purchase amount. You may be surprised how much more customers are willing to spend to receive free shipping.
Add value to your customers' lives, and they'll add value to your business
Learn more here.
Fashion Retail
How is marketing supercharging GAP’s sales during the pandemic?
After a tough 2020 that included COVID-related store closures and pressures on its supply chain, Gap Inc. topped pre-pandemic sales numbers in Q1, a development the company partially attributed to its recent marketing investments.
- Gap reported $4 billion in net sales in the first quarter of 2021, an 89% increase compared with 2020 and 8% lift when compared with 2019 pre-COVID levels. The retailer attributed its sales growth to the marketing investments it made during the past several quarters, coupled with "macro tailwinds" related to the economy's recovery from the coronavirus pandemic, per an earnings call.
- Comparable sales increased 28% year-over-year, and 13% compared with 2019, per its quarterly earnings report. While store sales declined 16% from 2019, online sales grew 82%, contributing to 40% of sales. The company's online channel was ranked second in U.S. apparel e-commerce sales, per the earnings call.
- Purpose-led marketing and creative partnerships have improved the health and relevance of its Gap, Old Navy and Athleta brands, CEO Sonia Syngal said on the call. The company has also identified target customers and cultural trends as it works on a new brand positioning for Banana Republic, which has continued to see declining sales.
Full report here
Digital
Advertisers flock to Android as iOS privacy feature bites
Ad spend from app owners flowed to Android in the first two weeks after Apple launched its new privacy feature in the latest version of iOS, data from Warc and AppsFlyer shows.
Apple introduced app tracking transparency in iOS 14.5, which launched on 26 April. Early data showed the vast majority of iPhone users who had installed the update were opting to block advertisers from tracking their behaviour across apps using Apple's ID for advertisers (IDFA).
According to Warc, only 11% of users globally and 4% in the US have enabled app tracking when asked whether they wanted to do so. Data now reveals that over a nine-week period starting at the end of March, when the industry was preparing for Apple to reveal the release date of iOS 14.5, ad spend on app installs on Android experienced a significant boost, while on iOS it has languished
Compared to the week ending 28 March, spend on both platforms was down over the first three weeks. But on Android, it rose above this level just as Apple confirmed the release, and was up substantially over the next five weeks. On iOS, meanwhile, the equivalent spend was below its starting point right up until the last week of the period, ending 23 May.
Read more here.
Hand-picked tool for the week: Google Keyword Planner
Your chance to discover some of the most unknown & helpful tools to make marketing easy
Tap into Google’s massive keyword database. The interface and the process is pretty simple as compared to most other keyword research tools.
So why use it?
Because the data you get from it comes straight from Google. (So you know its legit)
Brand & Marketing News
- Mercedes-Benz shifts retail sales structure in India to direct-to-customer model
- At F8, Facebook rolls out business messaging changes in e-commerce push
- Twitter testing ads on Fleets to catch up to Snap, Facebook
That’s all for today folks. Hope you liked today’s edition.
Stay in & stay safe :”)
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