In this podcast episode, the team behind the brand Oppie shares their insights and experiences from the past year, particularly regarding their strategies for Black Friday and the holiday season. They emphasize the shift from focusing solely on customer acquisition cost (CAC) to considering the CAC-to-average order value (AOV) ratio, which highlights first-order profitability.
Key insights include the benefits of starting Black Friday promotions earlier, around late October or early November, and the value of building brand awareness beyond just paid advertising. They also discuss how essential packaging and diversifying product lines are for retail success.
The speakers stress the importance of consistent content creation, A/B testing, and optimizing websites, along with a multi-channel marketing strategy that includes email, SMS, push notifications, direct mail, and calendar invites. This approach is vital for both acquiring new customers and retaining existing ones, especially in tough economic times. Ultimately, they advocate for prioritizing profitability over aggressive revenue goals during the holiday rush.
