May 31, 2022

Prioritize What You Do

A professional reached out with an odd request.

  • "Would you please prioritize what you'd do if you were me? Just tell me what we should focus on."
Here's the short list.
  1. Merchandise/Product. This is where the reader gets mad at me, but if customers don't care about what you sell, then why are you even in business? In the two years since the COVID-bump, we've largely ignored merchandise/product (outside of trying to find stuff to sell) and we're about to pay for our inability to focus on what matters most.
  2. Customer Acquisition. Nothing is more important if your rebuy rates are < 40%, which they are for most of you.
  3. Welcome Programs. Quickly convert that customer within about 12 weeks to a second purchase, or the customer essentially leaves and all of your customer acquisition work is pointless. The two programs work together, they are in harmony with each other.
  4. Email Marketing. It's essentially free and it is (outside of print) the only marketing channel you actually own and control. Why so many of you ignore email marketing is beyond me. And if the answer is "email marketing is just not very productive", well, that means you are failing. I have clients with 30% to 45% of annual sales ... from ... email marketing. Let that one sink in. 
  5. Personalization. A twenty-plus year technology used by any credible company. If you aren't personalizing all of your email campaigns and your website (and display and paid social and whatever else), you are a decade or more behind your competition.
  6. Budget Testing. If you spend $100,000/month in paid search, spend $50,000 one month and $150,000 the next month and learn how much you actually can spend. Execute holdouts in all channels where possible.
I know, I know, your favorite tactic isn't on the list.

That doesn't mean your favorite tactic isn't important - but make sure to fit your favorite tactic into the list above, as those concepts are more important and deserve prioritization.

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