Hey, y’all! Welcome again to episode 15 of the Southern Fried Ecommerce Podcast from EYStudios.This week our cohosts Jay Brimberry and Emily Faulkner are joined by Supro Paul, our eCommerce Marketing consultant/Gross sales Extraordinaire. Supro joins us from a naked room whereas sitting on a garden chair with the intention to have sufficient quiet to report this podcast with us. #WorkFromHomeProblems We began out by discussing upcoming vacation plans with Emily bringing her boyfriend house for the primary time, Supro internet hosting his first Christmas in his new home, and Jay’s 4-month previous son will probably be celebrating his first Christmas. Plenty of life occasions occurring at EYStudios however don’t overlook to hitch us subsequent week for our Festivus episode the place we’ll be airing our eCommerce grievances of 2021!
And with that, we bought began with our eCommerce articles of the week starting with “Gen Zers relied on purchase now, pay later in the course of the holidays. It’s time to pay up” from RetailDive. This text discusses the recognition of cost plan apps amongst technology Z and the repercussions of this rising pattern. Jay begins the dialogue by asking Supro, as a member of Gen Z, to debate his ideas on this pattern.
SUPRO: I undoubtedly, undoubtedly suppose my technology is capitalizing on the buy-now pay later. Me personally, I don’t often try this. I’m an enormous believer in simply shopping for all of it upfront, having it within the books, after which determining the main points later down the street. However I can completely see why folks in my technology are doing this. I imply, a one-time buy of $500 looks like so much in comparison with spending $50 over the span of 10 months. It’s a very good choice as a result of I really feel like particularly with our technology, the article mentions us as the kids of the recession, we had been witnesses to quite a lot of foreclosures, quite a lot of companies taking place, and the housing market crashing. It actually did open my eyes to desirous to have that monetary freedom. I really feel like lots of people in my technology are doing fairly properly however I feel an excellent quantity do dwell paycheck to paycheck. And with the ability to afford a $500 present for somebody as a one-time buy is fairly laborious for lots of people. So simply with the ability to unfold that throughout 5 to six months, 2 to three months, no matter, that’s superior – that’s a lot extra digestible. It will possibly simply be labored into the price range. Only a lot simpler total. However there’s additionally the concept’s talked about within the article that one of many high three folks do it is because they need that product instantly as a result of it’s stylish. And I feel possibly the explanation folks aren’t ending their funds is that that product has fallen out of pattern. You already know? One thing that was cool again in August, won’t be as cool in just a few months. It might need been canceled by the point the ultimate funds come up. So possibly they’re considering ‘why did I even purchase this’ or ‘why ought to I even full this buy.’
JAY: Bingo!
EMILY: You continue to should pay for it although! You already purchased it.
SUPRO: My girlfriend has used buy-now, pay-later and neither of us had been conscious that it will have an effect on your credit score rating. Wanting again it clearly would as a result of it’s a credit score system however once you’re signing up for this, there’s no warning or particulars about how a lot curiosity they’ll be charging you in case you don’t make the cost. It’s extra so listed here are the dates and the way a lot you’ll be paying on every date. They don’t actually inform you any of the negatives behind it.
EMILY: Effectively as a result of they don’t wish to inform you the negatives. That’s the entire level. The factor is, this text is extraordinarily contradictory in itself as a result of it’s saying ‘Gen Zers have seen the housing crash’, ‘Gen Zers don’t like bank cards’, however then they’re so keen to place their info right into a system like this and never perceive the dangers that include that. And never paying for issues as a result of it’s not stylish anymore isn’t serving to them.
Emily continued by saying that it’s additionally needed for these buy-now, pay-later platforms to be offering reminders to their clients or providing auto-pay performance. She talked about that it’s simple to overlook all of the totally different accounts you’ve gotten at the present time and with no cost reminder these corporations are setting you as much as miss a cost.
Jay’s primary takeaway was that Supro clearly loves his buddies contemplating he spends $500 on presents for them. Except for that although, Jay factors out that he believes there must be some onus of duty on the purchasers right here. He mentions that it is perhaps a generational hole however he thinks this text reads as slightly ‘woe is me’. He factors out that these are adults totally able to deciding whether or not or to not make a $500 buy and resolve find out how to pay it off. He does acknowledge that it does seem to be these corporations are capitalizing on getting cash on youthful folks. Nonetheless, he feels as if these clients are usually not utterly helpless and that the knowledge is out there to them in the event that they wish to search for it.
As his blood strain rose discussing irresponsible consumers, Jay declared that this text has ruined his good temper.
Emily responded with an affirmative, “The youth. All the time ruining every part.”
Supro introduced up pupil loans briefly simply to actually seal the generational hole between him and Jay. Emily prompt shifting on to a lighter subject and all events agreed.
In hopes of calming the room, the following article we mentioned was “148 Million Individuals Plan to Store Tremendous Saturday” from the Nationwide Retail Federation. The article discusses how slightly underneath half of the U.S. inhabitants will probably be procuring the Saturday earlier than Christmas this 12 months. This quantity is a drop from 2020 however a rise from 2021. Jay and Supro will probably be becoming a member of the crowds this weekend in particular person however Jay asks if it’s too late for on-line procuring earlier than Christmas.
EMILY: This 12 months has been fairly good by way of delivery. I’ve really been getting quite a lot of emails from corporations saying ‘that is the final day to purchase earlier than Christmas.’ Everybody has just a few totally different necessities and dates. To date this 12 months, in comparison with final 12 months, all of my packages have arrived earlier than Christmas. I’ve one left that arrives on Sunday, fingers crossed. However every part has been actually good this 12 months. I feel at present (Dec. fifteenth) is the final day to do precedence delivery after which after that, will probably be categorical delivery. So that you’ll be paying these actually costly premiums to get that stuff in time for Christmas.
Jay then requested what recommendation Emily would give retailers about Tremendous Saturday.
EMILY: Regardless of being an individual who likes branding, I don’t suppose every part must have a reputation. Not every part must be a Black Friday, Inexperienced Monday, Tremendous Saturday. I feel what’s really useful is simply constantly selling to your clients that ‘these are the presents you may get earlier than Christmas’ and ‘these are the gross sales we’re operating.’ And simply constantly displaying that info to folks. Numerous companies I observe on social media I feel are doing a very nice job of simply constantly showcasing that info. As a result of in case you’re consistently selling issues, you’re all the time high of thoughts for a buyer. So possibly people who get up on Saturday and understand that is the final day to actually get every part executed, they’ll suppose ‘who’ve I been occupied with?’
Emily additionally gave away a tremendous eCommerce advertising and marketing tip: In case you’re battling arising with a promotion for the week earlier than Christmas, go along with present playing cards. Give folks the present of selection. Promote present playing cards on your private home web page, on social media, in newsletters, and many others.
Jay mentions once more that he used to do all his Christmas procuring on Christmas Eve and has fond reminiscences of procuring along with his household presently. He’ll be taking his daughter looking for last-minute presents and hopes to create reminiscences together with her as properly. He additionally reminded people that Christmas is extra than simply shopping for issues. To cite Dr. Seuss’ The Grinch, “Possibly Christmas doesn’t come from a retailer. Possibly Christmas, maybe, means slightly bit extra.”
The third article we mentioned throughout this episode was “7 New 12 months’s Resolutions for eCommerce Corporations” from Sensible eCommerce. One of many resolutions talked about is “know your clients” which Jay, Emily, and Supro agree with. Nonetheless, the article continues to offer an instance of handbook knowledge assortment through weekly one-on-one buyer interviews. Jay asks Emily if she feels bodily speaking to your clients needs to be a precedence for eCommerce companies.
EMILY: I feel speaking to folks you’ll glean much more info than a typical survey. Though I do suppose that surveys are useful in getting a wider internet of knowledge. I do suppose one-on-ones might be actually useful, the one factor that may cripple you is simply time. Simply making the time and ensuring the shopper has the time. However folks like Supro, he’s actually good at doing these follow-ups and getting folks on calls.
SUPRO: I agree. I feel surveys are sort of hit-or-miss. Let’s say I’m given a survey the place I get 10% off for finishing the survey. Generally I’ll reply it appropriately, typically I’ll simply put in some random solutions simply to get the low cost. So I feel there’s much more profit in having that one-to-one with that buyer however as Emily mentioned it comes again to timing.
Jay factors out that he doesn’t suppose it’s as simple because the article makes it appear to make the time and get the shopper on the schedule as properly. He then asks Supro concerning the subsequent decision: reply shortly.
SUPRO: The pace at which you reply truthfully sort of conveys how a lot you guys care about your clients. On the finish of the day, if I’m ready 2 days to listen to again from an organization a couple of package deal that places a lot mistrust in that firm for me. Simply having that fast response even whether it is simply ‘hey I’ve acknowledged this drawback,’ simply lends a lot to constructing that merchant-to-customer relationship.
The third decision from the article we mentioned was: speed up delivery. Jay requested how a lot management retailers have over delivery and the way a lot duty lies within the carriers that these companies use.
EMILY: The good factor is there are delivery companions which you could work with which have labored to get higher charges for companies. So attempt to make the most of these. Possibly when you’ve got the funds to do which you could be sure you’re not charging folks $15 each time they wish to ship, which actually cripples me from wanting to purchase issues from folks.
The fourth decision is an eco-friendly tip to make use of much less packaging materials. Jay requested Supro if sustainability will issue into his shopping for selections within the subsequent 12 months.
SUPRO: Personally, I don’t actually look out for sustainable corporations particularly. However once I do get packages [that have recyclable materials or sustainable packaging] it all the time makes me really feel slightly bit higher about my buy. It’s like ‘cool, I’m not polluting the Earth by shopping for this’. It sort of goes again to belief. It builds slightly bit extra belief for me in that firm.
The fifth decision considerations the present provide chain points and encourages retailers to ‘shorten the provision chain by 20%.’
EMILY: With the best way the world is, provide chains are just a bit powerful proper now. It’s an important thought to have nevertheless it is perhaps extra of a mid-2022 technique.
The sixth decision is: minimize underused software program. Jay believes that it is a good objective for all corporations to have within the new 12 months, not simply eCommerce ones, and asks Supro if he agrees.
SUPRO: Completely. I can’t stress sufficient what number of instances I get turned off or don’t wish to purchase one thing from a web site as a result of I get one million pop-ups to sign-up for the publication or there’s a ten% off coupon and once I say no to that pop-up one other pop-up comes up asking if I’m certain I wish to say no to this coupon. I don’t wish to should hold clicking X simply to get to my buy. I need it to be simple and I need it to be handy. Yeah, there are some actually good issues that software program can do. I feel we had been speaking earlier in our gross sales chat about that Google Chrome extension that reveals you your deserted carts. That’s superior however on the identical time, and I feel Emily mentioned it very well, ‘there’s a cause that cart was deserted.’ I don’t need it to be again in my face 20 minutes down the street.
EMILY: Simply so as to add to that, it’s principally as a result of I didn’t wish to spend cash as a result of the cart’s actually full. However you recognize, possibly I ought to make the most of buy-now-pay-later.
The final decision from the article is: get severe about content material. The article suggests selecting a weblog, podcast, video, and publishing weekly. Jay requested for Emily’s ideas on content material because the digital advertising and marketing lead.
EMILY: Content material advertising and marketing is large. Content material is king. It’s vital, that you must be doing this stuff not only for the all-mighty Google however to your model as properly. Folks wish to hear from you. The extra constantly you publish, whether or not that be a weblog or a podcast or something like that, the extra folks see and the extra folks keep in mind you. The extra you’re inside somebody’s head the extra possible they’re to buy your objects. It looks like an enormous, heavy elevate however like they mentioned: simply choose one factor. Simply try this one factor very well and you will notice success. And in case you need assistance, EYStudios might help you out — we provide content material advertising and marketing providers.
To wrap up our podcast this week we ended our discuss by discussing “E.l.f goes long-form for meme-heavy vacation ‘film’ native to TikTok” from RetailDive. This text particulars the 9-minute TikTok “film” created by E.l.f. Cosmetics known as, “Huge Temper, Huge e.l.f.ing Metropolis.” The movie stars anthropomorphized beauty merchandise voiced by the road’s creator.
Jay barely bought by way of the article with out laughing and Emily’s eye-rolls had been almost audible. Jay then places Supro within the highlight by revealing that his household is quasi-Tik Tok well-known. Supro’s little brother and sister are profitable on Tik Tok and are even getting cash from their creations. With Supro’s TikTok experience in thoughts, Jay requested if he thought TikTok promoting would develop into extra vital for retailers.
SUPRO: Sure, however I’ll say that it actually depends upon the vertical. In case you’re a B2B firm that sells components for machines, I don’t suppose TikTok goes to be the perfect platform for you. However I feel verticals like attire, equipment, make-up, possibly even sporting items, as properly. These are some actually good verticals which you could make the most of TikTok for. I feel one of many largest issues about TikTok is how visible it’s. I’m a really visible learner, I wish to see issues hands-on or see issues getting used as a result of that may decide if I wish to buy that product or not. So once I’m scrolling by way of the TikToks I get 30-second, one-minute movies displaying you ‘hey that is how this product works and that is how I’m utilizing it,’ and that offers me a lot details about that product inside 30 seconds, after which I can scroll onto the following factor or click on store now. I feel it is a actually cool option to attain out to the youthful technology however on the identical time, you wish to be sure you’re in the correct vertical to do this.
I feel this e.l.f stuff is admittedly cool with the anthropomorphic make-up merchandise however I feel what they did very well was they paired it with influencers. Let’s simply say e.l.f simply did these merchandise and this film and so they didn’t tie with influencers, I feel it will have been so much lamer for my technology. For me, if I had been to see one thing like that I’d be like ‘cool they’re simply capitalizing on Tik-Tok developments simply to make some cash’ however now that they launched some influencers and a few thought leaders within the TikTok business that makes it slightly bit extra relatable to the place it’s like ‘oh I see that Kalen Allen is doing this so it in all probability isn’t as lame as I believed it will be,’ that’s simply how our minds work.
Jay was shocked that Supro is aware of who any of the influencers talked about had been. He then went on a mini tirade concerning the business of influencer advertising and marketing and solely barely gave the impression of an previous man yelling “get off my garden.” Emily then joined in for slightly but in addition identified that influencers have modified and developed as a result of media corporations bought concerned and TikTok is solely the newest evolution of that.
We hope you appreciated this episode of the Southern Fried eCommerce podcast, be sure you subscribe to get a glimpse into eCommerce information each week served Southern Fried fashion.
