DTC Marketing Masterclass
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How to balance performance marketing and brand marketing as you scale, with a specific emphasis on DTC / D2C strategies. Presented at FUTR Europe Summit 2021.
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DTC Marketing Masterclass
- 1. D2C MARKETING MASTERCLASS Finding the balance between performance & brand marketing Shira Feuer Chief Marketing Officer Trinny London FUTR Europe Summit May 2021
- 2. The unique story that people recall when they think of you “BRAND”
- 3. What people say about you when you’re not in the room “BRAND”
- 6. Brand: Product Marketing Retail Customer service Partnerships Internal culture Recruitment Any experience or touchpoint
- 7. Brand strategy includes: Mission Vision Purpose Brand promise Unique value proposition Brand values Positioning Core messaging Tone of voice Visual identity …and so much more
- 8. (But this isn’t what we’re talking about today)
- 9. Today we’re talking about balancing brand marketing with performance marketing
- 10. Marketing to drive a specific ROI-driven action “PERFORMANCE MARKETING”
- 11. And because we’re talking about D2C, we’re generally talking about generating a conversion
- 12. Brand marketing: An objective? A channel? A measurement framework?
- 14. Marketing to create brand equity “BRAND MARKETING”
- 15. Brand marketing: Not just where you spend your money; Where you spend your time, effort and resources* *and you can dial these up or down depending on your objectives
- 16. The caveat: This all depends on the industry, the business, the competitive space, what you’re trying to do and how you sell
- 17. Today I’m focusing on the D2C space with a strong digital emphasis
- 19. D2C GROWTH STAGES 1. PRODUCT-MARKET FIT Do people want your product? 3. HYPERGROWTH Balance new customer acquisition and LTV growth 4. ESTABLISHED Focus on loyalty and advocacy 2. SCALING New customer acquisition
- 21. Do people actually want to use your product?
- 22. Find your early adopters and advocates
- 23. Get the product in people’s hands
- 24. PRODUCT-MARKET FIT: PERFORMANCE Performance marketing to drive conversion plays a large role because you need to test and learn (and you don’t have big budgets)
- 27. Performance marketing examples: SEO fundamentals Data fundamentals Paid search Paid social Effective site user journeys PRODUCT-MARKET FIT: PERFORMANCE
- 28. Try to diversify channels as early as you can so you don’t become dependent on one
- 30. PRODUCT-MARKET FIT: BRAND You should also start to build your brand marketing in parallel from the beginning
- 31. Build a lasting emotional connection with consumers
- 33. Remember why you’re doing things
- 36. Brand marketing examples: Launch PR Influencers MVP content Harnessing core advocacy PRODUCT-MARKET FIT: BRAND
- 37. Measurement: Coverage from key target titles and influencers Direct Traffic Brand searches Site sessions via brand channels “Engagement” metrics for content & community* *Make it count PRODUCT-MARKET FIT: BRAND
- 38. PRODUCT-MARKET FIT Performance/Brand Spend: 90/10 Time & effort: 70/30
- 39. 2. SCALING
- 40. You’ve figured out where you fit It’s time to expand and find new customers
- 41. Performance should still take priority because you want to be able to afford your growth SCALING: PERFORMANCE
- 44. Performance marketing examples: Email (broadcast, abandonment, replenishment) Expanding paid social PR & influencers (DR) Affiliates CRO Referral programs SCALING: PERFORMANCE
- 45. Measurement: Conversions Conversion rate CAC ROAS AOV New customers Site activation metrics SCALING: PERFORMANCE
- 46. SCALING: BRAND This is when brand marketing begins to grow
- 47. You’ll have many learnings from the PMF stage that will give you ideas of what your audience responds to Testing and learning is key… But brand marketing is a lot more expensive to test and requires more intuition SCALING: BRAND
- 48. Is it remarkable? (Is it worth remarking on?)
- 49. Build a moat
- 50. SCALING: BRAND
- 51. SCALING: BRAND
- 52. SCALING: BRAND
- 53. SCALING: BRAND
- 55. Experiences create loyalty* *While the priority in this stage is still new customer acquisition, it’s important to build loyalty from those customers early on
- 56. SCALING: BRAND
- 57. Brand marketing examples: Impactful content Events Product placement with PR and influencers UGC trends and amplification Community management Brand moments SCALING: BRAND
- 58. The success of brand marketing depends on the creative execution If you’re going to spend money & time on this, don’t skimp on the creative SCALING: BRAND
- 59. Measurement: Brand trackers / prompted awareness Direct traffic Brand searches Video watch duration Product coverage in key titles UGC volume Community response SLA Advocate engagement NPS SCALING: BRAND
- 60. Performance/Brand* Spend: 75/25 Time & effort: 50/50 *Will likely vary by market as awareness will differ SCALING: BRAND
- 61. 3. HYPERGROWTH
- 62. You’re continuing to acquire customers at a breakneck pace, but you’re now also balancing LTV growth from existing customers
- 63. Performance marketing still works but it may begin to plateau in certain markets HYPERGROWTH
- 64. It’s critical that you have invested the time to start building a brand people care about in the first two stages, otherwise you might get stuck here HYPERGROWTH
- 65. Don’t retrofit brand later on
- 66. Performance is still very important , and you can test and expand new channels HYPERGROWTH: PERFORMANCE
- 71. Performance marketing examples: DR TV OOH Building generic paid search Optimising reviews Sampling / offers Loyalty programs Owned retail / pop-ups HYPERGROWTH: PERFORMANCE
- 72. Measurement: Conversions Revenue growth by product category ROAS AOV New customers Retained customers LTV Review ratings Referral HYPERGROWTH: PERFORMANCE
- 73. Going heavier on brand marketing makes sense because you can leverage the awareness and advocacy you have built
- 74. Brand is a growth lever
- 79. Emotion makes brands memorable
- 81. Brand marketing examples: Influencer & celebrity collaborations PR activations Brand partnerships YouTube advertising Corporate comms Grow content production & internationalisation Social proof Further develop visual identity HYPERGROWTH: BRAND
- 82. Measurement: “Where did you hear about us” surveys Direct traffic Brand searches Key target collaborations Brand trackers / unprompted awareness NPS HYPERGROWTH: BRAND
- 83. Performance/Brand Spend: 60/40 Time & effort: 30/70 HYPERGROWTH
- 84. 4. ESTABLISHED
- 85. You’ve built a global brand and a household name ESTABLISHED
- 86. We haven’t yet reached this stage
- 87. (But we will!)
- 88. Target retention and advocacy for future growth
- 89. There is less of a reliance on performance marketing because you are now ubiquitous
- 90. Focus on differentiation and creating brand preference
- 91. Brands are harder to copy than products
- 93. Performance marketing examples: Best-in-class SEO Sophisticated personalisation Loyalty programs Referral programs ESTABLISHED: PERFORMANCE
- 94. Measurement: Retained customers LTV AOV Customer churn rate Referral ESTABLISHED: PERFORMANCE
- 96. Go all in on what you stand for
- 98. Standing for something doesn’t need to be political or cause-driven
- 99. The best brand marketing focuses on identity
- 100. ESTABLISHED: BRAND
- 104. ESTABLISHED: BRAND Not at all D2C!
- 105. Loyalty is created when brands create an emotional connection (and it becomes part of the customer’s identity)
- 106. Brand marketing examples: Emotive activity to differentiate and generate brand preference (on any platform) ESTABLISHED: BRAND
- 107. Measurement: LTV Retained customers Referral NPS Brand affinity and salience trackers ESTABLISHED: BRAND
- 108. Performance/Brand Spend: 10/90 Time & effort: 10/90 ESTABLISHED
- 110. Create a brand ecosystem to cross-promote (and think about this from the beginning)
- 111. Your marketing content is not just about the products you sell
- 112. Build a 360° brand
- 113. Where do you start?
- 114. 1. Figure out what your brand is about Who is your audience? What are you really selling? What do you stand for? What makes sense to be coming from you? What are your key consumer touchpoints?
- 115. 1. PRODUCT-MARKET FIT 3. HYPERGROWTH 4. ESTABLISHED 2. SCALING 2. Determine which D2C growth stage you’re in
- 116. 3. Be really clear with your marketing objectives What exactly do you want to achieve with performance and brand marketing, based on the growth stage you’re in?
- 117. 4. Determine the channels that make the most sense to meet these objectives Which channels will meet your performance and brand marketing needs? What paid, owned and earned channels should be considered? What hypotheses can you create to run effective tests?
- 118. 5. Carefully consider your team structure Brand marketing may require more people, less spend In-house vs agencies
- 119. 6. Evolve as you grow Optimise performance while scaling brand Consider the full customer journey and what information is needed at every stage of the decision-making process Differentiate to create brand preference Build a brand ecosystem
- 120. 1. Figure out what your brand is about 2. Determine which D2C growth stage you’re in 3. Be really clear with your marketing objectives 4. Determine the channels that make the most sense to meet these objectives 5. Carefully consider your team structure 6. Evolve as you grow
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