Podcasts

Talk Commerce - Lin Dai

The Future of Loyalty Programs: Insights from Lin Dai of Superlogic

In this episode of Talk Commerce, we had the pleasure of sitting down with Lin Dai, the CEO and co-founder of Superlogic, to discuss the evolving landscape of loyalty programs. Lin shared his expert insights on how brands are revolutionizing their rewards strategies to drive customer engagement and retention in innovative ways. As an entrepreneur and points enthusiast himself, Lin brought a unique perspective to the conversation that left us with plenty of food for thought.

The History and Importance of Loyalty Programs

Lin kicked off the discussion by walking us through the history of loyalty programs, from their humble beginnings with copper coins and paper stamps to the sophisticated digital ecosystems we see today. He emphasized the critical role that rewards have come to play in the business models of industries like airlines, hotels, and credit cards.

“If you look up American Airlines stock today, I think it’s trading somewhere between $8 to $9 billion. So essentially, they are being perceived as a very profitable and very well-run rewards program that happened to run a money-losing business of flying planes.” – Lin Dai

This quote from Lin really drove home the point that loyalty programs have become more than just a marketing tactic – they’re a core part of many companies’ financial strategies.

Challenges and Opportunities in the Loyalty Landscape

Of course, running a successful loyalty program is no easy feat. Lin highlighted some of the key challenges that brands face, such as the massive liabilities created by unredeemed points on corporate balance sheets.

“American Express issues about more than $1 billion of new points every quarter. So when they give you 100 points, they have to track on their corporate balance sheet a dollar of liability. So that piles up very fast.” – Lin Dai

But with challenges come opportunities, and Lin shared how Superlogic’s technology platform is helping brands tackle these issues by incentivizing customers to burn their points in creative ways. By capturing customer data across online and offline touchpoints and rewarding behaviors beyond just transactions, brands can build more engaging and profitable loyalty programs.

The Future of Loyalty: Hybrid Rewards and Peer-to-Peer Marketplaces

Perhaps the most exciting part of our conversation with Lin was hearing about the innovative strategies that Superlogic is pioneering to take loyalty programs to the next level. He introduced us to the concept of hybrid rewards models that incorporate digital collectibles and badges alongside traditional points.

“What we do is we build a system or hybrid system to integrate with existing programs or build brand new programs that has a hybrid points, but also digital badges, essentially non fungible rewards that represent you completed a specific action. And by collecting the right combination, you unlock really big rewards.” – Lin Dai

Lin also shared a case study of how Superlogic helped Warner Music achieve a 9x increase in loyalty engagement by implementing a peer-to-peer rewards marketplace. The idea of empowering customers to trade points and perks with each other is a fascinating one, and it’s clear that this kind of outside-the-box thinking is what will define the future of loyalty marketing.

Final Thoughts

Talking with Lin Dai was an enlightening experience that left me with a newfound appreciation for the complex world of loyalty programs. It’s clear that the brands that will win in this space are those that are willing to innovate, experiment, and put the customer experience at the center of their rewards strategies.

As marketers and entrepreneurs, we could all stand to learn from the examples and insights that Lin shared. Whether you’re looking to optimize an existing loyalty program or build one from scratch, this episode of Talk Commerce is a must-listen.

Talk Commerce - Jeremy Toeman

Unleashing the Power of Video Marketing: Tips from Expert Jeremy Toeman

In today’s digital landscape, video has emerged as a game-changer for businesses looking to engage their audience and boost their online presence. To delve deeper into the world of video marketing, I had the pleasure of interviewing Jeremy Toeman, a seasoned expert with an impressive track record in the media and tech conversion space.

Throughout our conversation, Jeremy shared invaluable insights and practical tips that can help businesses of all sizes leverage the power of video content. Let’s dive in and explore the key takeaways from our discussion.

The Importance of Video in Today’s Marketing Landscape

Jeremy emphasized the significance of video in reaching and engaging audiences in the current digital era. He highlighted some eye-opening statistics:

“YouTube has 500 hours of content uploaded per minute. TikTok users spend an average of 95 minutes per day inside a TikTok.”

These numbers underscore the immense potential of video content in capturing the attention of your target audience. However, Jeremy also pointed out a surprising fact:

“70% of US businesses today have zero capacity for making more than one video a year.”

This revelation highlights the untapped opportunities for businesses to stand out and connect with their audience through video marketing.

Overcoming the Challenges of Video Creation

One of the primary roadblocks businesses face when it comes to video creation is the perceived complexity and cost associated with the process. Jeremy acknowledged this challenge and shared his own experience:

“I quickly realized two things is that one, this is a brilliant product and two, I will never be good at it. You know, and the analogy I make, it’s like me trying to learn how to pilot a helicopter just to go get milk at the corner store.”

However, Jeremy emphasized that with the right tools and approach, video creation doesn’t have to be an overwhelming task. He encouraged businesses to embrace the concept of “good enough” videos, focusing on authenticity and relevance rather than striving for Hollywood-level production quality.

Leveraging Video for SEO and Sales

When it comes to leveraging video for SEO and sales, Jeremy shared a valuable insight:

“Google gives approximately a 50% SEO bump to any homepage with a video on it.”

This underscores the importance of incorporating video content on your website, especially on your homepage, to improve your search engine rankings and attract more organic traffic.

Additionally, Jeremy advised businesses to pay attention to the platforms where their target audience is most active. Whether it’s TikTok, YouTube, or other social media channels, tailoring your video content to the specific platform’s format and audience preferences is crucial for maximizing engagement and conversions.

Embracing the Power of AI in Video Creation

As we discussed the role of AI in video creation, Jeremy emphasized the importance of human oversight and editing:

“We are at the stage of AI where human in the loop is a requirement. And if you’re representing a brand, you wanna do that one over on everything that’s going out there, because we’re already seeing a lot of pushback on how AI is being used and frankly misused.”

While AI can significantly streamline the video creation process, it’s essential to review and refine the generated content to ensure it aligns with your brand’s message and values.

Final Thoughts and Actionable Advice

As we concluded our conversation, Jeremy left us with some actionable advice for businesses looking to embrace video marketing in the coming year:

“If you haven’t started in 2023, fine. Start in 2024. There’s way too many methods of creating video from your existing content to not be trying. The results are phenomenal.”

He encouraged businesses to start small, experiment with different video formats and platforms, and most importantly, to not be afraid of imperfection. The key is to get started and continuously refine your approach based on the insights and feedback you receive.

If you’re ready to unlock the potential of video marketing for your brand, head over to meetAugie.comand explore the AI-powered video creation tools offered by Jeremy’s company. For Airbnb hosts, be sure to check out videomylisting.com for a one-click solution to create promotional videos for your listings.

Remember, the power of video is within your reach. Embrace it, experiment with it, and watch your brand’s online presence soar to new heights.

To dive deeper into the world of video marketing and hear more of Jeremy’s valuable insights, be sure to listen to the full podcast episode on Talk Commerce.

Talk Commerce Joe Earley

Tifosi Optics: Insights from Founder Joe Earley on Building a Successful Sunglasses Brand

In this episode of Talk Commerce, I had the pleasure of speaking with Joe Earley, the President of Tifosi Optics, a leading sports sunglasses brand. Joe shared his journey of building Tifosi Optics from the ground up, navigating the competitive landscape of the sunglasses industry, and adapting to emerging trends in sports and lifestyle eyewear.

The Tifosi Optics Story: Filling a Gap in the Market

Joe and his wife, Elizabeth, started Tifosi Optics 21 years ago after identifying a gap in the market for high-quality, affordable sports sunglasses. As independent sales representatives in the cycling industry, they noticed a demand for sunglasses that offered the features of premium brands at a more reasonable price point.

“We found that there’s a lot of consumers out there that want that quality, but they just want a more reasonable price point. And so that’s what we’ve been able to kind of offer.” – Joe Earley

By focusing on delivering value to the end consumer, Tifosi Optics has grown from a small operation with 24 SKUs to a thriving business with a presence in over 3,500 retailers across the United States.

Staying Competitive in a Crowded Market

The sunglasses industry is highly competitive, with major players like Oakley and Ray-Ban dominating the market. To stay relevant, Tifosi Optics focuses on continuous product innovation and staying on top of trends in the sports and lifestyle categories.

“You definitely have to stay on the product gas. And for us, product is number one.” – Joe Earley

By consistently launching new models, color stories, and performance features, Tifosi Optics has maintained its position as a go-to brand for athletes and enthusiasts seeking high-quality, affordable sunglasses.

Adapting to the Rise of E-Commerce

In recent years, Tifosi Optics has embraced e-commerce as a significant part of its business strategy. While wholesale partnerships with specialty retailers remain crucial, the brand has seen substantial growth in direct-to-consumer sales through its website and Amazon store.

“At the end of the day, we’re servicing the end consumer. Our running specialty stores, our bike specialty stores, people like REI, they’re incredibly important to us. We’re not a, I think a lot of companies look at, they say they either be direct to consumer or I’m going to be wholesale. For us, as Jim Collins would say, we look at it as the beauty of the and, it’s not an or proposition.” – Joe Earley

By maintaining a balanced approach to wholesale and direct-to-consumer sales, Tifosi Optics ensures that its products are accessible to a wide range of customers while supporting its retail partners.

The Importance of Eye Protection in Sports

As an avid cyclist myself, I can attest to the importance of wearing high-quality, protective eyewear during outdoor activities. Joe emphasized the critical role that sunglasses play in shielding the eyes from UV rays, debris, and potential impact.

“You wouldn’t go out there and hang out in the sun for three or four hours without [sunscreen]. You know, you need to protect your eyes. So you do cause the same damage to your eyes, multiple sunburns, it’s gonna make your eyesight degenerate faster than it already is.” – Joe Earley

Tifosi Optics’ commitment to using shatterproof polycarbonate lenses and hard-coating technology ensures that their sunglasses provide the necessary protection for athletes and enthusiasts engaging in various sports and outdoor pursuits.

Looking ahead, Joe identified two significant trends in the sports optics space: the growing popularity of pickleball and the demand for bold, vibrant colors in eyewear.

“Pickleball has been an area where we started to see reviews on our website where people were buying them and they’re like, oh, I’m using these for pickleball, these are great. And we’re like, wait a minute. So then we started setting up campaigns to market to them.” – Joe Earley

As pickleball continues to gain traction, Tifosi Optics has strategically targeted this market, collaborating with influencers and expanding its product offerings to cater to the specific needs of pickleball players.

Additionally, the brand has observed a shift in consumer preferences from classic black frames to more colorful and expressive options.

“It used to be black was the number one seller. Anytime we came out with the sunglass, you’d have four or five colors. And if you had a black version, it was always number one. That’s not it right now. It’s all about fun, bright colors.” – Joe Earley

By staying attuned to these trends and adapting their product lineup accordingly, Tifosi Optics remains at the forefront of the sports optics industry.

As our conversation with Joe Earley demonstrated, building a successful sunglasses brand requires a combination of quality products, market awareness, and adaptability. Tifosi Optics’ commitment to delivering value, protecting athletes’ eyes, and staying ahead of trends has positioned them as a leader in the sports optics space.

To learn more about Tifosi Optics and their range of sunglasses for sports and lifestyle, visit their website at tifosioptics.com. And for more insights from industry leaders like Joe Earley, be sure to tune in to future episodes of Talk Commerce.

Talk Commerce Chase Clymer

Avoiding Common Pitfalls When Setting Up Your Shopify Store with from Chase Clymer

In the world of e-commerce, setting up a Shopify store can be an exciting venture. However, many merchants fall into common traps that hinder their success. In this special episode of Talk Commerce, I sit down with Chase Clymer, the expert climber of all things Shopify, to discuss the most common mistakes merchants make when setting up their online stores and how to avoid them.

Overinvesting in Customizations Too Early

One of the biggest mistakes merchants make is overinvesting in customizations when their store is not ready for it. Chase emphasizes this point, stating:

“If your store is doing under a million, you could even argue under 5 million. You don’t need a custom theme. This is maybe controversial to some shops out there. But I think that over investing in design is more appealing to a brand’s founder, especially one that’s a design-oriented creative. And it doesn’t really add much to your bottom line.”

Instead of focusing on expensive customizations early on, Chase recommends investing in marketing and customer acquisition. Your resources are better spent on driving traffic and sales to your store.

Poor User Experience (UX) Choices

Another common pitfall is making poor UX choices, either due to a lack of expertise or understanding of the customer journey. Chase points out several areas where merchants often stumble:

“Navigation is always, always bad. It’s like the first thing I can see, I’m like, who built this site? I could tell that they didn’t know what they’re doing. The way the navigation is set up for an eCommerce store. Additionally, sorting and filtering is often overlooked. And then it’s 2024 now. And I still have to have conversations about mobile optimization with people.”

To avoid these mistakes, it’s crucial to work with an expert who understands the intricacies of e-commerce UX and can help optimize your store for conversions.

Neglecting Content Strategy

Content is king, and neglecting it can be detrimental to your Shopify store’s success. Chase emphasizes the importance of investing in high-quality content:

“When we talk about content, oftentimes when I’m having conversations with merchants about designing new stores, content comes up and I’ll send them examples and they’re like, that looks great. This looks great. That looks great. And I’m like, yeah, you want all these things have in common is they have great content. They have awesome imagery. They have great copy. They have good video.”

Beyond visuals, Chase also stresses the significance of written content, such as telling your brand’s story and having a robust blogging strategy. These elements help build trust with your customers and establish your expertise in your niche.

In conclusion, setting up a successful Shopify store requires careful planning and avoiding common mistakes. By focusing on the right investments, prioritizing UX, and developing a strong content strategy, you can set your store up for long-term success. As Chase Clymer reminds us, it’s essential to work with experts who can guide you through the process and help you optimize your store for conversions.

To dive deeper into this topic and gain more valuable insights, be sure to listen to the full episode of Talk Commerce featuring Chase Clymer. His expertise and practical advice will help you navigate the world of Shopify and take your online store to new heights.

Talk Commerce - Jason Nyhus

[Live from ShopTalk] The Struggle of Mid-Market Merchants in E-Commerce with Jason Nyhus

Defining the Mid-Market Merchant

Jason eloquently described the mid-market merchant as a business that doesn’t quite fit into the standard SMB or enterprise categories. These merchants often have complex use cases and unique needs that aren’t easily met by one-size-fits-all solutions. As someone who has worked with numerous mid-market businesses, I can attest to the importance of finding a platform that offers the flexibility and customization required to address their specific challenges.

One of the most significant issues mid-market merchants face is the dominance of big software companies in the e-commerce space. As Jason pointed out, these companies often prioritize their own profit motives over the needs of individual merchants. The result? A homogenized e-commerce experience that lacks the differentiation and customization many mid-market brands rely on to stand out in a crowded market.

I’ve seen firsthand how frustrating it can be for merchants to feel forced into a box, unable to tailor their online presence to their unique brand identity. This is where open-source platforms like Shopware shine, offering the freedom and flexibility to create truly distinctive e-commerce experiences.

The Importance of Adaptability and Customization

As the e-commerce landscape continues to evolve at a breakneck pace, adaptability has become a crucial factor in the success of mid-market merchants. Jason emphasized the significance of choosing a platform that allows for easy customization and integration with emerging technologies like AI.

In my experience, the ability to modify and own your code is a game-changer for mid-market businesses. It allows them to create tailored experiences that align with their brand and business processes, rather than being constrained by the limitations of a rigid, one-size-fits-all solution.

Final Thoughts

My conversation with Jason Nyhus at Shop Talk was an eye-opening exploration of the challenges and opportunities facing mid-market merchants in the e-commerce world. By understanding the unique needs of these businesses and embracing adaptable, customizable solutions, we can help them navigate the complexities of online retail and thrive in an increasingly competitive landscape.

If you’d like to learn more about Jason’s insights and the innovative solutions Shopware offers for mid-market merchants, be sure to check out the full podcast episode. And as always, keep the conversation going by sharing your own experiences and strategies for success in the comments below.

Talk Commerce - Nils Jessen

Optimizing Ad Performance with Mabel AI: Nils Jessen Shares Insights

I’m excited to have Nils Jessen, co-founder and CEO of Mabel AI, as our guest on Talk Commerce today. In this insightful conversation, Nils dives into the world of e-commerce advertising and shares how his company is revolutionizing the way brands optimize their ad performance. Let’s explore the key takeaways from our discussion.

The Challenges of Ad Tracking Post-iOS 14.5

One of the main issues Nils highlights is the impact of iOS 14.5 on ad tracking and data quality. He explains:

“Since iOS 14.5 and so on, the data quality has gotten increasingly worse to a point where the algorithm of your ad platform is missing the data to really understand your target audience. And therefore, your targeting becomes worse.”

This change has made it more difficult for ad platforms to effectively target the right audience, leading to suboptimal ad spend and performance.

Mabel AI’s Unique Approach to Solving the Problem

Nils differentiates Mabel AI’s approach from other tools in the market:

“What we’ve basically done is built a completely new architecture of how the tracking script is loaded into your shop, how the data is captured. The data quality is way more complete again, that every single event is captured with as much parameters as possible.”

By focusing on capturing high-quality, raw conversion data and feeding it directly into ad platforms, Mabel AI empowers the algorithms to make better targeting decisions and optimize campaign performance.

The Power of Controlling Your Own Data

One of the key insights Nils shares is the importance of businesses controlling their own conversion data:

“Every business themselves should be able to control their own conversion data. So that if you run an online shop, you should be the entity that controls who gets access and you shouldn’t be like dependent on a few big players that they are like so nice to give you this data.”

By using tools like Mabel AI, e-commerce brands can take ownership of their data flow and reduce their dependence on big tech platforms.

Leveraging AI for Smarter Ad Optimization

Nils emphasizes the role of AI in ad optimization, drawing parallels to the well-known algorithms used by Google and Meta:

“If you’re in the ad space, you have to keep in mind the algorithms by Google and Meta and so on who do the targeting. They are some of the most advanced and biggest AIs that mankind has built and they’ve been there for years.”

He explains how Mabel AI acts as a bridge, providing these powerful algorithms with the best possible training data specific to each business, enabling them to deliver optimal marketing outcomes.

Brent Peterson: Throughout our conversation, Nils provided invaluable insights into the evolving landscape of e-commerce advertising. As someone who has worked with numerous brands on their marketing strategies, I can attest to the importance of having accurate, high-quality data to fuel ad optimization.

Mabel AI’s innovative approach to tracking and data management is a game-changer for businesses looking to maximize their ad performance. By taking control of their data flow and leveraging the power of AI, e-commerce brands can gain a significant competitive advantage in today’s digital marketplace.

I highly recommend checking out the full Talk Commerce episode with Nils Jessen to dive deeper into these topics and learn more about how Mabel AI is transforming the world of e-commerce advertising.

Talk Commerce - Mike Micucci

The Future of Omnichannel Commerce: Insights from Fabric CEO Mike Micucci

I recently had the pleasure of hosting Mike Micucci, CEO of Fabric Commerce, on the Talk Commerce podcast. With his deep experience in ecommerce, including leadership roles at Salesforce Commerce Cloud, Mike shared fascinating insights into how composable commerce and AI are revolutionizing the omnichannel retail experience. In this post, I’ll highlight some of the key takeaways from our conversation.

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The Power of Composable Commerce

Mike explained that composable commerce provides retailers the flexibility to build the experiences they want while still benefiting from a unified backend platform. Fabric’s composable platform allows retailers to seamlessly manage the full commerce lifecycle, from merchandising to order fulfillment.

As Mike put it, “Commerce doesn’t stop at checkout. It’s just getting started.” I couldn’t agree more. Composable commerce empowers brands to craft unique customer journeys that extend beyond the buy button.

Accelerating Omnichannel with Fabric

For retailers looking to enhance their omnichannel capabilities, Mike outlined two key approaches with Fabric’s platform:

  1. Incrementally add discrete services like real-time inventory or advanced promotions to their existing tech stack
  2. Implement a comprehensive omnichannel solution by leveraging Fabric’s pre-built “primitives” – mini-apps that accelerate time-to-market and reduce complexity

Having seen many retailers struggle with siloed systems and inconsistent experiences, I’m excited by Fabric’s vision for a unified omnichannel platform. It’s a game-changer.

The Transformative Power of AI

Mike and I also discussed the transformative potential of AI in commerce. While many retailers have adopted basic machine learning for product recommendations, Mike envisions AI driving significant operational improvements.

By harnessing data across merchandising, fulfillment, and returns, AI can enable dynamic pricing, intelligent inventory allocation, and proactive decision-making. As Mike noted, this was previously only possible for retail giants like Amazon. But with platforms like Fabric democratizing access to advanced AI, every retailer can now unlock this potential.

The implications are vast – I believe we’ll see AI fundamentally reshaping how brands operate and engage customers in the coming years.

Unifying Digital and Physical Retail

Finally, Mike emphasized the importance of blending digital and physical experiences into one cohesive customer journey. Fabric’s platform empowers retailers to offer seamless omnichannel scenarios – browse online, purchase in-store; buy on mobile, pick up curbside; endless aisles in fitting rooms – all on a single platform.

This unified approach powered by robust APIs is key to meeting modern customer expectations. I’m thrilled to see composable commerce and platforms like Fabric making this level of integration achievable for retailers of all sizes.

Boosting Performance and Flexibility with Fabric’s Ethos

One aspect of Fabric’s approach that stood out to me was their ethos of “boost what’s there, make it better and faster.” Mike explained how this allows retailers to incrementally adopt Fabric’s services to enhance their existing infrastructure, rather than ripping and replacing everything at once.

This modular approach, enabled by composable architecture, gives brands the agility to tackle their most pressing needs first, then layer in additional capabilities over time. From my experience, this agile mindset is essential for success in today’s fast-moving retail environment.

The Symbiosis of Composable Commerce and Omnichannel

Throughout our discussion, it became clear that composable commerce and omnichannel retail are intricately linked. The modularity and flexibility of composable architectures perfectly align with the demands of omnichannel selling.

As customer journeys increasingly criss-cross between digital and physical touchpoints, retailers need the ability to rapidly compose and recompose experiences. Fabric’s platform, with its comprehensive suite of APIs and pre-built components, makes this level of agility possible.

Empowering Store Associates with Clienteling

One exciting use case Mike highlighted was clienteling – equipping store associates with tools to deliver personalized, high-touch service. Historically, clienteling has been challenging due to disconnected systems and data silos.

But with a unified platform like Fabric, associates can now access customer profiles, past purchase history, product information, and inventory data in real-time. This empowers them to deliver the kind of consultative, omnichannel experiences that drive loyalty and revenue.

As brick-and-mortar retail rebounds post-pandemic, I believe clienteling will be a key differentiator. Composable commerce makes it achievable at scale.

As I reflect on my conversation with Mike, I’m struck by the vast potential of composable commerce to reshape retail. By breaking down monolithic systems into modular, API-driven components, retailers can finally achieve the speed and flexibility needed to thrive in the omnichannel era.

Moreover, the convergence of composable architectures and AI opens up exciting new possibilities. From dynamic pricing to predictive merchandising, retailers can now harness data and intelligence in previously unimaginable ways.

Of course, technology is just one piece of the puzzle. Retailers must also foster a culture of agility, experimentation, and customer-centricity. But with platforms like Fabric providing the technological foundation, I believe we’ll see a new generation of retailers redefining what’s possible in omnichannel commerce.

If you’re as passionate about the future of retail as I am, I invite you to listen to my full Talk Commerce podcast episode with Mike Micucci. And if you’ll be at Shoptalk, swing by the Fabric booth to see their technology in action.

The retail renaissance is here – and it’s composable. Let’s embrace this exciting new era together.

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Talk Commerce - Matt Butler

Driving Growth Through First-Party Data: Insights from Bonsai’s Matt Butler

In this episode of Talk Commerce, we have the pleasure of speaking with Matt Butler, CEO and co-founder of Bonsai. Bonsai is a company that measures and generates incremental outcomes for their clients through the power of first-party data. With a background in retail analytics at Google and a passion for data-driven storytelling, Matt brings a wealth of knowledge to the conversation.

The Shift in Digital Marketing

Matt discusses the changing landscape of digital marketing, particularly in the post-pandemic era. He notes that the days of simply throwing money at Google and Facebook ads to drive growth are gone. As he puts it:

“The attention around your consumer is incredibly sophisticated. So many platforms, it’s competitive. And so everyone’s sort of hit this sort of plateau, is what we hear.”

To overcome this plateau, businesses need to focus on generating incremental outcomes through first-party data.

The Power of First-Party Data

Bonsai’s approach to measurement revolves around leveraging a business’s own sales data, customer behavior insights, and touchpoints. By stitching these elements together, they can provide a deeper understanding of customer acquisition and optimization. Matt explains:

“A business is zoned sales data, customer behavior insights and identity and touch points, those things, when stitched together, can dive deeper so that when you’re thinking about acquiring a customer from a Google, you can see what else that customer is doing. You can understand if it’s really a new one or how to optimize media to find that next new customer.”

Small Wins, Big Impact

When it comes to measuring success, Matt emphasizes the importance of small wins. He shares an example:

“Some of our big wins were helping clients take, you know, pools of like large pools of money for acquisition, drive 15% better throughput, right? And you’re like, okay, 15%, you know, guys, that’s 10 million more incremental annual dollars, right?”

These seemingly small percentages can translate into significant business growth when applied at scale.

Unifying Customer Data

For retailers with both online and brick-and-mortar presence, Matt stresses the importance of having a single source of truth for customer identity. He advises:

“If you’ve got online and you’re going into stores, unify that customer ID, right? Like use a point of sale that like you can bring that data together if you’re a brick and mortar going online. Same approach, right? Have a single view of your own customer.”

By unifying customer data across channels, businesses can gain a more complete view of their customers and make data-driven decisions.

The Future of Data in Retail

Looking ahead to 2024, Matt sees a mainstream realization of the need for retailers to own their customer conversation and data. He predicts:

“This year is definitely like, you’re not getting your house in order, you’re probably officially going to start falling behind.”

Businesses that prioritize first-party data and measurement will be well-positioned for success in the coming years.

As the retail landscape continues to evolve, the insights shared by Matt Butler and Bonsai demonstrate the critical role that first-party data plays in driving growth. By leveraging their own customer data, businesses can make informed decisions, optimize their marketing efforts, and ultimately achieve incremental outcomes.

To learn more about how first-party data can benefit your business, be sure to listen to the full episode of Talk Commerce featuring Matt Butler.

Talk-Commerce Cary Lawrence

Mastering Personalized Marketing with Decile CEO Cary Lawrence

In this episode of Talk Commerce, I had the pleasure of chatting with Cary Lawrence, the CEO of Decile, a customer data and marketing platform built by marketers for marketers. Cary shared her passion for food and cooking, but more importantly, her deep insights into the world of data-driven marketing. Join us as we delve into the power of first-party data and how Decile is helping marketers create personalized experiences that drive customer loyalty and profitable growth.

Navigating the Cookieless World with Decile

Cary explained how Decile is well-positioned to help marketers thrive in a world without third-party cookies. By focusing on identity-based marketing and leveraging first-party data, Decile enables marketers to create personalized experiences without relying on device IDs or cookies. As someone who values privacy, I appreciate Decile’s approach to using data responsibly while still delivering value to customers.

The Art of Personalization: Balancing Relevance and Privacy

One of the key challenges in personalized marketing is striking the right balance between relevance and privacy. Cary emphasized the importance of creating an equal value exchange, where customers willingly share their information in return for personalized offers and experiences. By leveraging machine learning to analyze customer attributes and behaviors, Decile helps marketers deliver targeted messages that resonate with individual customers without crossing the line into invasiveness.

Finding Your High-Value Customers with Predictive Analytics

Cary shared a fascinating insight: the top 10% of customers are often responsible for 40-60% of a company’s revenue and profit. This highlights the importance of identifying and nurturing high-value customers. Decile’s predictive analytics capabilities help marketers identify not only their most valuable customers today but also those with the highest propensity to purchase in the future. As a marketer myself, I can attest to the power of focusing on retention and extracting more value from existing customers.

The Future of Marketing: Sustainability, Loyalty, and AI

Looking ahead to 2024 and beyond, Cary identified several trends that will shape the future of marketing. Sustainability, both in terms of packaging and product, will continue to be a key focus for consumers, especially younger generations. Customized loyalty programs that cater to individual preferences will become more prevalent. And while the role of AI in customer service is still evolving, Cary believes that generative AI and chatbots have the potential to streamline and improve the customer experience, provided they are executed flawlessly.

The Final Data Bit

My conversation with Cary Lawrence was a fascinating deep dive into the world of data-driven marketing. As marketers, we have a responsibility to use data ethically and responsibly, always keeping the customer’s best interests in mind. By leveraging the power of first-party data and predictive analytics, we can create personalized experiences that delight customers and drive profitable growth. If you’re looking to take your marketing to the next level, be sure to check out Decile and the innovative work they’re doing in the space.

Jason Nyhus - Shopware - Etail West

Live from eTail West with Shopware’s Jason Nyhus: Insights and Innovations

I had the pleasure of welcoming Jason Nyhus, the General Manager at Shopware US, who shared valuable insights into Shopware’s journey, its mission in the US market, and the innovative strides the company is making in the eCommerce space. As a long-time listener but a first-time attendee, Jason brought a fresh perspective to the table, underlining the importance of innovation, open source, and meeting the specific needs of the mid-market merchant.

Shopware’s Mission and Cultural Impact

Starting with a background on Shopware, Jason Nyhus highlighted the company’s 20-year history and its foundation by two brothers with contrasting strengths in art and science. This combination has fostered a unique company culture capable of challenging norms and embracing significant changes, such as going open source and transitioning the company’s business language to English, despite being based in rural Germany.

First-Person Insight:

As someone deeply involved in the eCommerce world, it was fascinating to hear about Shopware’s bold decisions and cultural dynamics. The company’s commitment to open source and continuous innovation resonates with the changing needs of the global market.

Shopware’s Approach to Innovation

Jason emphasized Shopware’s innovative approach, particularly its decision to invest in AI capabilities and focus on improving merchant efficiency. With 13 or 14 live AI capabilities now embedded in the product at no extra charge, Shopware is setting new benchmarks for what eCommerce platforms can offer.

First-Person Insight:

The conversation around AI and innovation was particularly engaging. It’s clear that Shopware is not just keeping up with trends but is actively shaping the future of eCommerce with its visionary perspective.

The Importance of Serving the Mid-Market

A significant part of our discussion revolved around the unique challenges and opportunities in serving the mid-market. Jason pointed out the critical role of providing enterprise-class capabilities at SMB budgets and the necessity of a supportive community of developers and scalable marketing stories.

First-Person Insight:

Jason’s insights into the mid-market segment were eye-opening. It’s a reminder of how platforms need to adapt and innovate to serve this diverse and often overlooked segment effectively.

Looking Ahead: The Future of eCommerce in 2024

As we wrapped up our conversation, Jason shared his optimistic outlook for the eCommerce industry in 2024, highlighting the increased activity and energy in the sector. This optimism is backed by Shopware’s impressive growth and the potential for digital transformation among mid-market merchants.

First-Person Insight:

Jason’s optimism for the future of eCommerce is contagious. It’s clear that despite the challenges, there are vast opportunities for growth and innovation in this space.

Etail Wrap up

My conversation with Jason Nyhus was not only enlightening but also inspirational, providing a glimpse into the future of eCommerce through the lens of Shopware’s journey and innovations. As we navigate the ever-evolving landscape of commerce, it’s clear that innovation, open source, and a deep understanding of the market’s needs will be crucial for success.

For those looking to dive deeper into the world of eCommerce and learn more about Shopware’s innovative solutions, listening to the full episode of Talk Commerce is a must.

Talk Commerce
Talk Commerce

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