The Ecommerce Influence Podcast: Advanced Acquisition and Retention Strategies for Fast-Growing Online Brands

We can think of very few things more important for an ecommerce business owner than determining what a customer is worth to an organization over their business lifetime, and there is no one better in the world at calculating customer lifetime value than Peter Fader.

Peter Fader is Professor of Marketing at the Wharton School of the University of Pennsylvania and the author of Customer Centricity: Focus on the Right Customers for Strategic Advantage.

His expertise centers around the analysis of behavioral data to understand and forecast customer shopping/buying activities and calculating customer lifetime value.

He works with firms from a wide range of industries, such as consumer packaged goods, interactive media, financial services, and pharmaceuticals.

Fader's work has been published in a number of leading journals in marketing, statistics, and the management sciences, and he serves on the editorial boards of many of them.

In 2009, Fader was named a "Professor to Watch" by the Financial Times.

Key Takeaways from the Show

  • Stop using weak proxies to determine CLTV
  • Finding your growth through your customers
  • Responsiveness is not customer centricity
  • Why Apple is not customer centric, but Harrah's entertainment is
  • What customer lifetime value ISN'T
  • The "Holy Trinity" of customer lifetime value
  • Raising your quantitative literacy
  • Learn the "Buy Till You Die" customer lifetime value model

Links / Resources

Subscribe & Review

To get more awesome Ecommerce Influence content sent directly to your device and into your ears as they become available, you can easily subscribe.

Also, ratings and reviews on iTunes (hopefully 5-stars!) help us tremendously and we’re very grateful for them. We do read all of the reviews and we’ll answer your questions or comments on future episodes.

Cheers,

Austin & Chad!  

Follow on Twitter:

Direct download: EI062_Peter_Fader.mp3
Category:general -- posted at: 1:00am CST

With costs always on the rise, and the "highs" from marginal success being short-lived, ecommerce companies need to moderate (maybe even eliminate) the pay per click addiction that could sink their business.

Tom Schwab is founder and owner of Goodbye Crutches, the largest online distributor of direct to patient Durable Medical Equipment focused on serving those who can’t bear weight and can’t bear crutches.

He definitely knows how to build an online business with an Inbound Strategy. Tom led the growth of Goodbye Crutches from a regional player to a national leader in under 3 years.

Tom is the leader of the eCommerce Hubspot user group, has been featured in many industry leading publications, and is often a guest expert on podcasts, radio shows, and more.

Key Takeaways from the Show

  • Creating content with a purpose
  • How to monopolize the keywords in your industry
  • Using inbound marketing to sell any product
  • Breaking down the bias against inbound marketing

Links / Resources

Subscribe & Review

To get more awesome Ecommerce Influence content sent directly to your device and into your ears as they become available, you can easily subscribe. Also, ratings and reviews on iTunes (hopefully 5-stars!) help us tremendously a we’re very grateful for them. We do read all of the reviews and we’ll answer your questions or comments on future episodes. Cheers, Austin & Chad!   Follow on Twitter:

Direct download: EI061_Tom_Schwab.mp3
Category:general -- posted at: 1:00am CST

Customer comparison shopping is inevitable online. With the likes of Amazon and other major retailers doing everything they can to steal your customers through pricing-cutting and comparison shopping you need to pull out all the stops to keep them loyal.

T. J. Gentle and Andrew Scarbrough are co-founders of PriceWaiter, a tool that allows ecommerce companies to keep more customers by providing simple and private price negotiations for online stores.

 Personalization in all aspects of the online buying experience is now one of the most talked about topics in ecommerce, and T.J. and Andrew are going to share how they’ve been able to 5x their sales thanks to their focus on customer personalization using the PriceWaiter tool.  

Key Takeaways from the Show

  • Creating the benefits of a brick and mortar sales person online
  • Eliminate price comparison shopping once and for all
  • How to get around the nuances of minimum advertised pricing
  • Selling in a true one to one way online

Links / Resources

Follow on Twitter:

Direct download: EI060_TJ_Gentle_Andrew_Scarbrough.mp3
Category:general -- posted at: 1:00am CST

"According to leading neuroscientists, 95 percent of thoughts, emotions, and learning occur before we're ever aware of it. Yet, most marketing efforts forgo the vast subconscious and instead target the rational, conscious mind. If you want to get ahead of your competition stop selling to the 5% of your customers brains...when you understand how your customers' brains work, you can appeal to the powerful subconscious - and get better results for less money." (Brainfluence, 2012)

Roger Dooley is a consultant, entrepreneur, and neuromarketing missionary who combines knowledge of emerging phenomena like neuromarketing and social networking with decades of hands-on marketing experience.

He helps companies understand the implications of new technologies and techniques, and guides them in the implementation of practical strategies to adapt to them. Clients range from Fortune 500 firms to entrepreneurial ecommerce businesses.

He regularly addresses national conferences, and has been quoted frequently in the mainstream press on topics ranging from brain fitness marketing, web communities, and social networks, is a frequent contributor to Forbes magazine, and is the author of Brainfluence: 100 Ways to Persuade and Convince Consumers with Neuromarketing  

Key Takeaways from the Show

  • Why facts are crucial to helping customers justify the purchase of your product, even though buying is primarily emotional decision.
  • Using the understanding of the brain to do better marketing.
  • Strategies for selling luxury goods versus utilitarian products.

 

Links / Resources

Roger's Personal Website 

Roger's Neuromarketing Blog 

Brainfluence - Roger's Book 

Rober Cialdini's New Book  

Subscribe & Review

To get more awesome Ecommerce Influence content sent directly to your device and into your ears as they become available, you can easily subscribe by clicking here.

Also, ratings and reviews on iTunes (hopefully 5-stars!) help us tremendously a we’re very grateful for them. We do read all of the reviews and we’ll answer your questions or comments on future episodes.

Cheers, Austin & Chad!   

Follow on Twitter: 

 

Direct download: EI059_Roger_Dooley_New_Interrupt.mp3
Category:general -- posted at: 1:00am CST

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