Delivering Direct-to-Consumer Strategies With Immediate ROI
Problem
A personal audio company wanted to significantly grow and optimize their Direct to Consumer (DTC) Business. The company had successfully carved out a strong hold in the retail space but had focused less on their online strategies which were mostly Amazon and their own website. They knew there was a lot of opportunity for increasing their DTC business and wanted to do so in a targeted, efficient way that optimized growth and return on investment. Excelerate was engaged to develop a data-driven approach to the growth strategy by helping them better understand the various drivers behind their DTC business, gain insight into their customers and prioritize investment areas.
Approach
Excelerate began the project with a deep dive into data – collecting and analyzing performance data from the company’s website. Amazon data and Google & marketing analytics, as well as interviewing key stakeholders. To better understand the customer experience, the Excelerate Team conducted a “customer journey lite” where the team mapped out the various touchpoints along the DTC journey. This process helped to identify areas of opportunity in the customer experience and determine prioritization for those opportunities. Along the way, Excelerate began to identify “quick wins” that could be implemented right away, with minimal spend and show results. The team realized that to grow and optimize the DTC market they would need to capitalize on these quick wins in addition to a long-term approach.
As the team dug deeper into the market it became clear it was a crowded space. Excelerate determined a competitive analysis and a deeper dive into Amazon data & performance was necessary to identify any additional gaps. Lastly, the team focused on consumer research for both the company’s products and their competitors, analyzing key drivers for purchase. From this research, Excelerate identified four customer persona profiles. Of these four profiles, the company was currently doing well in one and had opportunity for growth in two of the remaining three. The team then focused on identifying initiatives that would allow the company to efficiently target these new personas.
Results
The results of this project were delivered in both short- and long-term recommendations. Throughout the project, the Excelerate Team identified quick wins that the client was able implement and see results immediately. In addition to the quick wins, Excelerate provided the client with a detailed list of prioritized initiatives with an ROI analysis on each. From a strategic standpoint and supported by the data deep dive and research, Excelerate identified the importance of brand as a key driver in DTC purchasing decisions. Excelerate helped the customer address this from a strategic level with recommended short-term marketing initiatives, most of which have already been implemented, as well an RFP for a new brand agency, which was completed. At the end of the project the CEO said, “I usually don't like working with agencies and consultants. You are the first ones I felt truly added value and we are so appreciative of the immense impact you have made on our business"