There is only 1 day left separating us from 2021.
While Netflix is talking about Death to 2020, the eCommerce industry has mixed feelings about how this year went.
From businesses closing doors for good, businesses that strived and tripled their margins to changes in the buyer psychology and consumer behavior, for eCommerce, 2020 was the year of change. The year where the industry has grown on fast forward.
It was back in June this year when the team behind Reveal organized a live event discussing the birth of Customer Value Optimization.
It was also the month when Reveal became available for Shopify merchants.
Ever since we have helped hundreds of brands move the needle in the mission of becoming customer-centric.
These are some of the reviews we have received from the brands we are working with.
Forrester takes a look back at 2020 and at the changes that will occur in the eCommerce sector in the next year. I found this paragraph to be very fitting with the way we see the industry move as well:
“Segregating acquisition from everything that happens after a prospect completes a purchase: product utilization, customer service, retention, advocacy — was always a bad idea.Accelerating out of the crisis report © 2020 Forrester Research, Inc. 2
Now, pandemic conditions make this disconnect perilous. Disjointed experiences cost millions and lose customers — they are the antithesis of customer obsession.
Growth comes from continued use of a company’s offering, so it’s imperative to focus on acquiring customers who will stick around for the long haul.
Marketers will reemphasize the value of their loyalty programs and will mature from frequency-based rewards programs to full-fledged loyalty programs.
Already, media money is shifting into retention methods such as email, customer service, and the creation of products that drive growth: We predict that spend on loyalty and retention marketing will increase by 30% in 2021.”
What’s new on Reveal?
We are currently working full throttle to release our new integration with Facebook Ads and Google Ads.
This will significantly lower their acquisition costs and help brands acquire new customers with a higher potential for repeat purchasing behavior than the usual prospecting campaigns. This segment of new customers is called New Passion and usually, these are customers who have a high AOV and, if nurtured right, they can easily become your VIP customers.
More things are coming in 2021, stay tuned.
Until next time…