Let’s consider in-ear monitors … part of my headphone hobby. Prices are now higher on many Chinese models. We even have selling data on Amazon … they’ll tell you how many units they sold in the past month.
Then, I made up a column that shows me the preferred marketing channel for that item … the marketing channel where the item skews to above-average sales.
Here’s the data.
Obviously the Crinacle Dusk iem is a best seller in terms of sales (but not units). In this example, the item skews to Paid Search.
Look at the Moondrop CHU II … a unit monster that is also a top-three seller, skewing to Paid Social (suggesting people talk about this item).
In Customer Acquisition, Units = Customers. Yes, of course, obtaining 50 customers on a $359 iem is potentially good because of the long-term value of the customer. But that’s also the problem with modern analytics. Modern analytics limit your future because you skew your activities to the best possible return on investment … not knowing “what” the future could look like if you changed your destiny.
“Change your destiny, Peggy Sue” (extra credit if you know the movie reference).
The Paid Social items tell you what customers like to talk about. Now you know what to feature on Instagram, potentially YouTube.
Email items tend to be marginally cheaper than average … hint … that happens all the time (at your brand, too). When you analyze what sells best in email marketing, we’ve trained our email customers to care about discounts/promotions. You now have an idea what you need to feature in your email marketing campaigns. Do it.
Paid Search items either relate to what you market to customers (i.e. customer sees your marketing efforts, goes out into the ecosystem to see what else is available, then comes back to you) or relates to a lower-funnel activity related to social (i.e. customers sees what people are talking about, finds out who sells what people are talking about, then comes to you).
The Moondrop Chu II is a unit monster … which means it is a customer monster. Compared to the Simgot SuperMix 4, you’ll generate six times as many units and obtain the same amount of sales volume. If you want customers, make the Chu II a central part of your marketing plan. When you acquire the Chu II customer, watch what that customer purchases next. Measure it! Then cross-sell those customers into those items using … wait for it … wait for it … ACTION STREAMS!!
This stuff isn’t hard.
But you can’t view the world this way when you see marketing as a series of campaigns.
Units = Customers.
Take advantage of the channels you have … use them DIFFERENTLY. Ignore the sameness of the old-fashioned omnichannel approach to selling. You need customers now, more than ever.
