April 1, 2020
Ep. 20 – What Is Customer Journey Retargeting (CJR)? – With Reza Khadjavi

Ep. 20 – What Is Customer Journey Retargeting (CJR)? – With Reza Khadjavi


There is a world (where) retargeting is highly
profitable for brands and helps their businesses grow but it’s also an experience that is like
delightful and interesting and engaging and memorable from the consumer perspective. Welcome to Honest eCommerce where we are dedicated
to cutting through the BS and finding actionable advice for online store owners. I’m your host, Chase Clymer And I’m your host, Annette Grant. And we believe running an online business
does not have to be complicated or a guessing game. If you’re struggling to scale your sales,
Electric Eye is here to help. To apply to work with us. visit electriceye.io/connect
to learn more. On today’s episode of Honest eCommerce, we
welcome Reza, the CEO of Shoelace, as he breaks down Customer Journey Retargeting. All right, everybody, welcome. Back to yet
another episode of honest eCommerce. My name is Chase. I’m sitting here next to Annette
Grant in Columbus, Ohio and today we are welcoming Reza from Shoelace, an expert in Customer
Journey Retargeting. Welcome to the show, Reza. What is CJR, as you like to put it? Thanks. Yeah. Glad to be here to talk about
that. So we first started thinking about Customer Journey Retargeting as a solution to what
we’ve identified as a pretty big problem. This is the problem of retargeting having
gotten incredibly annoying from the consumer standpoint. So if you talk to any consumer,
–and all of us are consumers ourselves in some respect– you ask them what they think
about retargeting ads. What you’ll probably hear is people will say,
“Oh, those annoying repetitive ads that follow me around everywhere? I hate them.” Or “They’re
super annoying.” That’s kind of the state of retargeting and it also happens to provide
good ROI for merchants and advertisers. And so we find this weird situation where “Do
we exist in a world where the only way to get a high return on ad spend is to annoy
your customers?” Like, “Is that just a trade-off that we as marketers have to live with?”
And we’ve been thinking about this for a while. And our view is that the answer is no, it
doesn’t have to be that way. There is a world (where) retargeting is highly profitable for
brands and helps their businesses grow but it’s also an experience that is delightful
and interesting and engaging and memorable from the consumer perspective. And so there’s
a lot of reasons why we think that retargeting should be a better experience. And ultimately, the way we try to phrase customer
journey retargeting, is just part of this conversation of, “How could retargeting be
better?” And at a high level, the way we think about it is that: Part of what is annoying
about retargeting is if it’s not “funnel-aware”. If it doesn’t understand where somebody is
in their buying journey. So if somebody has bought a product and then
for six months, continues to see a retargeting ad of that product that they bought, it’s
the advertiser not being aware of what stage of the buying journey the customer’s in. So
part of what we think about Customer Journey Retargeting is to be relevant to where the
customer is, based on where they are in the buying journey. Whether they’ve just expressed interest and
only spent a few seconds on the brand’s Instagram page or coming back for their fifth purchase
this year, –The loyal repeat customer– Customer Journey Retargeting should take that state
of the customer, where they are in their journey, and reflect that in the ad experiences they
receive. There’s a bunch of more that goes into it.
And we have this pretty long, 54-slide deck to answer that question of what CJR is. But
at a high-level, that’s sort of how we think about it. So that these experiences, instead
of being annoying and repetitive for consumers, end up being relevant and memorable and personalized,
that’s a high level of how we like to think about it. I have a question. I’m very familiar with
retargeting and also the customer journey, but I’m going to be honest here. I did not
know about customer journey retargeting until I was prepping for this episode. So can you
talk to our listeners and myself, and educate us a little bit about the evolution of retargeting
and what the root of it was and how we got to Customer Journey Retargeting and your brand
in general. Yeah, so I think retargeting –probably as
a technology or marketing strategy– has probably been around for, I don’t know, I want to say
7 or 8 years, something like that. And it started off with this ability to be
able to, let’s say, drop a cookie on consumer’s browsing experience and then later be able
to show them… That was pretty revolutionary in the sense that you can now pick up that
intense signal and say, “Here’s somebody who has been to the website and obviously is super
interested in our content.” We can get in front of them again instead of it… Without
even having an email address. I think that has been just like a dream for
marketers for as long as retargeting tactics have existed. But I think the problem has
become… Marketers have not really innovated with retargeting since its inception. For
the most part, still, what we continue to do is show buyers the same ad over and over
again. And I think part of it has to do with… As marketers, we become so accustomed to looking
at dashboards, looking at Facebook Ads Manager looking at numbers and digits on a screen,
that we forget what the end experience that consumers like. So for the most part –In a part of a brand’s
overall marketing strategy– they’re doing email, they’re doing SEO, they’re doing prospecting
and all these things going on. And generally, the way we try to determine whether something
is working well or not is to look at the KPIs and the numbers. And for the longest time,
I think, retargeting slipped through the radar here by showing good numbers on the analytics
dashboards. Therefore marketers go, “Okay. Well, I must be doing all right.” Meanwhile, the ad has a frequency of 40 so
the customer is seeing the same thing like a million times. Some of them have converted,
sure, but everybody else has just gotten a terrible experience. And I think that… As
we’ve started to think about it, there’s a lot of reasons why we’ve been really keen
on focusing on this problem. I’ll just mention it very quickly and I’m happy to dive into
whichever area you prefer. But ultimately, we think that it’s not a good
experience from a customer’s perspective. There’s something much more important than
that kind of warm and fuzzy argument. The thing that we’ve seen happen, –I’m sure you
both can agree to this– is in the last 3 to 4 years, it’s just become very expensive
to make the math work on paid marketing for eCommerce. There was a time period where you just run
a bunch of Facebook ads and then you make profitable results just on those first transactions.
And it was all wonderful and everybody was making a ton of money. And as it gets more
and more competitive and as the CPMs go up, it starts to become harder and harder to make
all the math work on that first transaction. So what you start to see is that the eCommerce
brands that are emerging as having a competitive differentiator to be able to survive these
are the ones that are building businesses around like loyalty and repeat purchase and
having customers come back and buy from their brand over and over again. And that’s where the math will work from a
lifetime value perspective. So as we start to see this kind of conversation shift a little
bit, –at least for the forward-thinking brands– that repeat purchase matters. Long-term brand equity matters. And these
things don’t just matter because they feel nice, but they matter because that’s how…
It’s the only way the mouth is going to work. And we start to think about, “Okay, if that’s
the direction that marketing strategies are evolving into 2019 and beyond for brand marketers,
then how should retargeting evolve to this?” Our view is to say that, “We can’t move in
that direction, –what we’re trying to build… Brand affinity, emotional and memorable connections
with our customers so that they come back and buy from us over and over again and tell
all the friends– if the retargeting experiences are just repetitive and annoying.” So somehow our retargeting strategy needs
to fit into that overall paradigm of brand building and repeat purchase. Our view is
that Customer Journey Retargeting is how –we think that– retargeting levels up to fit
into that broader strategy. Man, we started this episode and just dove
right into the good stuff and I’m super excited. (laughs) Alright, so let’s take it back a bit. I introduced
you and probably… You’re the CEO. I’m talking to the bigwig at Shoelace. So, Shoelace is
a great company. They have an awesome app in the App Store for Shopify and it helps
you build out this Customer Journey Retargeting, within your company, within your Shopify store. So let’s go back to the beginning. What
is your history? Before Shoelace, were you in the Facebook advertising world doing this
yourself? What led you to create this idea and then the technology behind it? Sure. Yeah. So the short history of what I’ve
been up to pre-Shoelaces. I’ve just been somewhere in between a founder, a marketer and a programmer
for most of my life. Just working on stuff that intersects between those three things.
And so I had an on-demand laundry business back in the day. And a big part of that business
was just (thinking), “How do we do marketing for this dry cleaning business to be able
to get customers to order their dry cleaning through us?” That was my first stab at, let’s
say, eCommerce. Not necessarily like product based eCommerce, but service-oriented eCommerce. And I ended up writing all the software for
that business and doing all the marketing. And I learned a lot about how to market a
business online. I just kind of fell in love with that challenge. I worked on a bunch of
different stuff in between, but that was the main company I worked on for a while. I realized
that I hadn’t really ever had a job, so I thought that’d be a good thing to do. And then I went and joined the startup that
was growing really fast in Toronto, just to get an experience of what it would be like
to work at a venture-funded startup that is growing quite fast to experience the sort
of thing that you don’t necessarily experience when bootstrapping ideas on your own, which
turned out to be a really awesome experience for me. And I met my two co-founders, David and Alex
–who are both colleagues of mine– at that company and we started working very closely
together and just felt pretty good friendship then realized that at some point, we wanted
to start our own company together. We didn’t really know what we wanted to build, but just
the three of us made a really good foundation for our starting team. Alex is our hardcore engineer and he’s a way
better programmer than I was. I haven’t written code in a really long time so I probably suck
at it now. And then David comes from a bit of a corporate background. He’s our financial
guy and thinks a lot about those sorts of things. And the three of us made a really good interesting
team that we felt that the three of us can go out and think of different ideas and problems
and we had the right skill sets to kind of build it in-house ourselves and then sell
it in terms of an idea and market it to people. So we just felt really qualified to work on
stuff together as a founding team. So we decided to take the plunge and quit our jobs. Actually, May, it’s coming up to four years
when we quit our jobs without an idea. It’s a little bit reckless. But we believed in
each other as a team enough to realize that if we just spend like 10 to 11 to 12 hours
a day working on stuff, surely we’ll find interesting problems to solve in the world.
And so anyway, long story short, one of the first ideas that we were dabbling with was
this idea to help business owners cross-promote each other with other businesses who they
share a similar audience with, but didn’t compete with. So for example, you might have a brand that
sells women’s dresses and a brand that sells purses. Can these two brands co-market with
each other and help each other drive sales and traffic? And so we wanted to solve that
problem and help these businesses grow and do this interesting way to do digital marketing
in a way that hadn’t necessarily been done before from a co-marketing perspective. And one of our ideas was, “What if we help
these two brands kind of cross-promote each other’s Pixels?” So we do a cross-retargeting
thing where if somebody buys a product from business A, they’ll start to see a retargeting
ad for business B and vice versa as a way to help each other grow. And so we started
talking to customers about this idea. And what we heard was, “Oh, that sounds really
cool. I’d love to try that when you have a partner for me and when your platform is ready.
But in the meantime, you guys seem pretty smart and I’ve just been struggling with my
own retargeting. Could you just help me set up a few campaigns?” And by the time the, let’s say, the sixth
person asked the same thing, that was our aha moment of like, “Okay, maybe there’s an
opportunity here. Forget about this advanced cross retargeting thing we want to do. It
sounds like merchants and brands are kind of struggling with basic retargeting on their
own.” And so that kind of got us thinking about,
“Are there other parts of this that we can automate and make retargeting easier and easier
for brands?” That was our first foray into what we started, what we ended up doing with
Shoelace. And then as time went on, we just started obsessing about retargeting as a specific
problem probably more than anybody else has for the last few years. At the intersection of like, “What is social
retargeting? What should it be like for direct to consumer eCommerce brands?” (It) has just
been our obsession for the last 4 years. And through that, we’ve developed these theories
around Customer Journey Retargeting and how the approach should be and then using that
as a framework to say, “Okay, what kind of products and services can be developed that
help brands implement… In our view, what is the right approach to retargeting?” So
that’s our history in a nutshell. Katana Ad
Hey, if you’re in the product making business then we’ve got great news for you. Katana
is here to make your life easier. There’s now a Shopify app built and designed for merchants
that make their own products. Manage your sales, orders, raw materials,
production schedule, inventory, and material purchasing all from one dashboard. The name
of that app is Katana. Katana is designed for makers, crafters, and
small manufacturers selling on Shopify. Until now, product makers selling on eCommerce have
had to settle with messy spreadsheets or regular inventory management software. We know they both usually suck if you need
to make your own products. Fortunately, Katana is built from ground-up with the needs of
a small manufacturer in mind. Production, scheduling and inventory management has never
been this easy for Shopify merchants. A recent survey shows that 93% of Katana users
say they love it because of the ease of the setup and how intuitive it is. To try Katana for free sign up at www.katanamrp.com
or search Katana on the Shopify App Store. There’s a 14-day free trial. You do not need
a credit card. And when you’re signing up, use the promo code honest to get 30% off your
first three months of a paid subscription, Check out Katana today. Awesome. So now with Customer Journey Retargeting,
did you guys coin that phrase? Can you trademark it? To be honest, I think we’re the first ones
to start, saying it. In a way, we actually don’t care if it ends up getting attributed
to us or not. We’re more interested in like, “Can we get the ecosystem thinking about retargeting
in this way?” And whether it’s the term CJR that sticks or something else, (it’s) not
too important to us. But from a vanity perspective, yeah. I think
we are probably the first to say Customer Journey Retargeting in that order. But I think
what we care about more is… We’re just trying to… We see this as an inevitability that’s
happening anyway. And we’re just trying to accelerate it. This approach to retargeting
away from just run a dynamic product ad and plaster people with the same messaging. There’s just no way that that’s the future.
And we’re trying to accelerate to get to the future of what we think it should be like.
But (we are) also very welcoming the broader ecosystem to contribute towards this and say
like, “No, here’s why we think you’re wrong. And maybe it should be done this way.” And
I think the more crowdsourced it becomes, the better. We care more about like, “Can
we evolve retargeting to be more than just the same repetitive product over and over
again?” Selfishly, that works for us because we’re
trying to build products and solutions that matter more in a post-DPA world. Shoelace
starts to matter a lot more when the way to do retargeting as a de facto industry-wide
is this more journey approach to retargeting as opposed to just showing the same messaging
over and over again. And so however it gets there whether the catchphrase is associated
to us or not, it doesn’t really matter. But yeah, I think we probably were the first to
start calling it that. Well, I think that’s cool. And I’m gonna give
you props for it and everyone else out there can hopefully tag along and say that’s cool.
I was gonna say something a little more raunchy, but I decided against it. (laughs) Sure. (laughs) I have a question. Do you have different philosophies
when you’re working on the ads for a company when it comes to dynamic ads versus the video
ads? Because Customer Journey Retargeting makes a lot of sense to me if I can see how
long they’re watching one of my videos or something like that, but I’m not sure how
that translates into just the product ads itself. Are those two different philosophies? So one thing I’d say is that we are making
a bet on this being relevant for brands that are building a brand. So if the playbook is
dropshipping products –not necessarily any issues against dropshipping. It’s like a supply
chain method– but this idea of selling products that aren’t really interesting or valuable. They’re just commodity products that are effectively
just waiting for Amazon to gobble them up, it doesn’t necessarily fit their… If you’re
not trying to tell a brand narrative if you’re not trying to tell a story, if you’re not
trying to bring customers into your community, into your ecosystem, it may not be the right
fit. Our view is that if brands are not thinking
about the world that way, they might be in trouble in terms of sustainability and survival.
As the world gets more and more expensive to find brand new, first time customers, it
might be difficult to sustain a business model that doesn’t have brand-affinity/brand equity
built into the framework. I just wanted to put that out there first. But in terms of thinking about the benefits
of different types of ad creatives, the way we sort of think about it is like, when somebody
visits a website and leaves, over the days and weeks to follow, what they consume should
feel like a story. They should go through this journey approach
where they’re learning about the brand or learning about the unique selling proposition
or they’re learning about what the community of that brand looks like. And so in a way,
part of the point of Customer Journey Retargeting, –I heard a marketer talk about this which
I found really interesting– was that once upon a time, marketers used to have the attention
span of consumers for 4 minute blocks at a time where we just had more attention span
from our consumers. But today, when consumers… We have their
attention for 10-15 second intervals at a time, then it almost becomes a strategy for
a brand to say, “Okay, what kinds of things do we want to communicate to a potential customer
over, let’s say, a four-minute time period that once they consume all of that say, ‘Okay,
I love this brand. I love their products. I love what they stand for and what they’re
all about.'” Given that we don’t have all four minutes
of their attention span in one shot, can we break that up into little nuggets of messaging
that last kind of 10-15 seconds at a time, whether that’s through video, whether it’s
through kind of a still image or a carousel or whatever else. We try to tell a story with our ad experiences
so that when somebody leaves your site, depending on where they are in their buying journey,
over the next days and weeks, they’ll see a series of ad experiences that have them
become fully educated about what your brand is and what you’re about. And that they become
ready to either make a purchase or make a repeat purchase. So it’s more about the different touchpoints
being used to tell a broader story versus every touchpoint being, “Hey, buy now. Hey,
buy now with this discount. Hey, buy now at this discount.” That may work for many businesses,
but the ones who are trying to build loyal relationships with their customers, it doesn’t
seem like the right way to build those relationships. So that’s where this journey approach adds
a lot of value. Yeah, that’s fantastic. So I’m sure now that
you guys are installed in two or three stores, probably. I’m just kidding. (laughs) (laughs) But you got a bunch of data to play with.
So now this idea of Customer Journey Retargeting and building out all these different messages
at a different point in the customer journey. Do you see any data that reflects how this
is combating ad fatigue and how it’s helping brands build their business? Yeah, yeah. So I mean, to your point, that’s
exactly correct. We see ourselves in a pretty unique position where we’ve spent like millions
of dollars on ad experiences that are based on this kind of journey approach. And we’re
just sitting on a wealth of data, to be able to learn what works best for which types of
customers. We tend to be pretty conservative with the way we extrapolate data. So we’ve generally stayed against looking
at a couple of things and just start getting crazy loud about like, “Okay, here are the
numbers to prove everything.” We’re still sifting through a lot of data to be able to
say, like, “Definitively, is there signal here or is there just noise from the different
types of things that we’re trying to prove?” So we’re hoping to release a lot more of these
findings over the next year. Just this content for the community. But we’re also using those learnings to pick
it back into our product to be able to determine… A good example is the average order value
along with the time it takes from the first touchpoint to conversion. Those two things
really help dictate how long of a journey we should be running for a particular brand
in a particular industry. Things like the repeat purchase rate really help figure out
to what degree post-purchase retargeting plays a role in a brand’s journey. And so all of the pieces are there and a lot
of the data is at our fingertips and, yeah. We are hopefully going to be releasing a lot
of our findings over the next year so your listeners can stay tuned for that. We did
release one case study recently –which we can maybe add to the show notes– where a
brand we worked with named Findlay Hats switched from the regular DPA style retargeting to
the journey approach. And they saw a 600% increase in their ad conversion rate and the…
What I mean by ad conversion rate… And this is the sort of thing that we’re trying to
figure out like, “What are the right metrics to even be studying with the data?” And so
in this case, it was… Previously, let’s say, 10,000 people saw their
retargeting ad experiences and what percentage of them end up converting to purchase. And
then in the CJR approach, it was a 6x increase in terms of more people converting to purchase
after seeing the ad experience. But then I don’t want to get too long-winded here, but
you have these issues around trade-off, which you might be able to see a lift in revenue
growth. It might cost more in terms of ad spend because
now we’re running these a bit more complex retargeting journeys. So thinking about what
matters more to the brand. Is it really, really high return on ad spend multiples or are we
willing to have a little bit lower of a return on ad spend multiple but that can mean revenue,
growth, and sales lift. And so trying to understand how all of these
pieces fit together, and then release a lot of the data to help brands and marketers in
the community to think about how they want to do these things. This is a lot of what
we think about every day. I think it’s commendable that you are taking
the time to analyze that data. You can skew data to make it look like you’re doing awesome
when you actually suck. Yeah. (laughs) It’s hilarious. So I think it’s commendable
that you guys do that. Thanks. Do you have any suggestions… We’d like to
give our listeners something actionable today after they get done listening, that they can
work on their store. What’s kind of a low hanging fruit or that first thing if someone
isn’t doing retargeting, they are currently… What’s something that you see most of the
time when you take on a new client that you change kind of automatic? What’s the first
thing out of the gate you change for them? So generally, I think, we see brands at one
of two starting points. One is that just not doing any retargeting, which, to that, we
say like, “Please start doing it because you’re leaving money on the table for sure.” And
the other (one) is, I think a lot of people have checked the box of saying, “Okay, I need
to do retargeting. I’ll do retargeting. Set up a dynamic product ad, let that run and
call it a day.” And I think the first kind of actionable piece
is that, if that’s what you’ve done if all you have running is one kind of dynamic product
ad, then think about what that experience is for a consumer. If, for example, you have
a dynamic product ad running and most people will have it running for like, let’s say a
30-day interval… What we’re saying here is that like this consumer is going to see
the same copy, the same ad, for the next 30 days. So thinking about that, looking at the frequency
seeing how many times is it possible that this customer may have seen this and taking
some attempt to put variety in the experience, we think it’s a really good, good place to
start. And so that, in addition to thinking about which stages of the funnel are we targeting.
So just think about four basic stages of the funnel, people who expressed interest. Let’s say the ones who visited the homepage
but didn’t even look at a product or those who looked at a product that didn’t add to
cart or those who added to cart but didn’t purchase or those that purchase but let’s
say haven’t purchased again. Do you have a retargeting strategy that is catering to each
of those four stages of the funnel with messaging that is relevant? And so yeah. The actionable tip I’d say is
just starting to think about what the world beyond dynamic product ads even looks like.
I bet that most merchants most brands, most marketers if they just come out of that box
and come in and put a 30-minute brainstorming session with your team or just yourself on
the calendar. Say, “What cool things could we do with retargeting
that isn’t just a dying product ad? I bet you’ll have a lot of creativity and a lot
of interesting thoughts about what could make a more interesting customer experience. And
so I’d say that would be the first starting point. Just think about and brainstorm how interesting
it would be to do retargeting experiences that are not just the same product ad over
and over again. And then using that creativity as a starting point to say, “Okay, which of
those makes sense? Do we have the right audience to even implement something that’s brand new?”
Maybe or maybe not. But I think that’s a really good starting
point. Just expand the horizons of what is possible with retargeting beyond just the
kind of typical dynamic product. Simplr Ad
Support for today’s podcast comes from our friends at Simplr: a new way to staff 24/7
sales and customer service on your eCommerce store. It works with your existing email and chat
platforms, so setup is quick and easy. Simplr’s network of on-demand, US-based, Simplr
specialists are standing by to answer your customers’ most common questions. Set it up for free today and then turn it
on or off depending on your customer volume. You only pay $2.25 for every resolution. There
are no hidden fees, contracts or minimums. Close more sales with Simplr by staffing your
email and live chat around the clock with Simplr specialists. Start your free seven-day
trial at simplr.ai/honest. So I have one more question here before we
wrap it up and then I’ll… Actually, two more things. Sure. First one being… So, I am Joe Schmo store
owner and I’m just starting out. Thinking about this Customer Journey Retargeting. (Is
it) going to solve my underlying business problems? I’ve only been doing this for six
months and I have an idea going. Lay it on me. What’s the truth there? Yeah. It, for sure., won’t solve the underlying
problems like, “Do we have a business that has product-market fit that can reach customers
reliably?” Keeping it in mind that retargeting does not solve, at all, getting in front of
the right customer. So you still need some way to get people to care about you, buy your
products. That starting point is necessary even without
retargeting. (Retargeting) can’t really solve that problem and particularly Customer Journey
Retargeting cannot either. And so I think the… And that’s… I don’t have a lot of
great advice on what to do in that state. It’s a very difficult state to go from zero
to one. To go from just an idea getting off the ground
to tens of thousands of visitors and some amount of conversion to deem that there is
proof of life there. I feel like there are people way more qualified to talk about that
piece of the entrepreneurial journey than mine. I would just say it’s a hell of a grind. Oh, and there is one quote that I think really
applies here. It’s from the book, The Hard Thing About Hard Things. I really like Ben
Horowitz, who was a really phenomenal operator. He’s now a venture capitalist. (He) says,
“There are no such thing as silver bullets. There are only lots and lots and lots and
lots of lead bullets.” And I’d say that’s probably true throughout
the entrepreneurial journey, particularly in the beginning, there is no “one thing”
that will kind of make or break the success of an early-stage store. And I would say that
the concepts that we talked about in terms of Customer Journey, Retargeting start to
become more and more relevant, the higher the traffic gets because, in a way, when you
only have a few hundred people visiting your site in a month, it’s hard to segment those
out to be super granular on Facebook and still get ad delivery. And so in the early days, I would say, it’s
probably not possible to get very granular and say like, “Here’s what we’re going to
show these people at this stage of the funnel and here’s what we’re going to show them on
day 1 and day 8.” It might be hard to do that with only a few hundred visitors. Typically we say something at least 10,000
visitors a month are probably required in order to start doing CJR properly. But the
one kind of piece that I think a lot of people are probably not using well enough… And
when we talk about CJR, it isn’t just kind of those always on retargeting ads that people
see as soon as they leave your website. Actually, there’s a massive opportunity in
what we call “retargeting lists”. (It’s) almost like your email lists. So people who’ve been
to the site in the last 180 days or people who have looked at the product in the last
90 days or looked at a specific product in the last 90 days. These audiences tend to
be a lot bigger. For smaller store owners, you can get a kind
of more sizable audience there. And what you don’t want to do is run ads against those
audiences that are just running forever. It’s just going to annoy people and waste money.
But every once in a while, when you have a new promotion or you have a new collection
or you have something to announce, it’s really cool to use those lists, the way you would
like an email newsletter. Tee up an ad runs to your 180-day audience
and let it run for like three days to communicate a message to those folks, bring them back
to your site, etc. I think retargeting can play a really valuable role in that capacity
in the super early days when you want to be able to get in front of the people that have
expressed interest in your brand, but not be too repetitive. I think that’s a really
good way to do it in the early days. But yeah, to your point, this is not a silver
bullet. It’s not going to make or break businesses. It’s not going to be the thing that gets a
business off the ground. But as you think about your brand strategy, competing in the
world of Amazon, and building a brand for the long term, we think that CJR plays a really
critical role in that function, but not necessarily a thing that can save a failing business,
let’s say. You hit a home run. I teed that up for you
pretty good and I’m glad that caught on. (laughs) Oh my god, that was the perfect answer! It
takes hard work. Building an online business is hard. And I don’t know why people think
it’s easy. Right. Yeah. YouTube says it’s easy, Chase. (laughs) YouTube does say it’s easy. That’s right. YouTube says you just have your laptop at
the beach and dropship a widget from somewhere. Last time I brought my laptop to the beach,
I broke it. (laughs) No. I think that the stuff that you
just gave our listeners is invaluable. If they were to take that today and either A,
Start some of the retargeting themselves or B, if they have an agency working for them,
double-checking the agency’s work to make sure that they’re doing the retargeting that’s
going to be the most value for them. So I think that’s… People might have to listen
to this episode a couple of times and take notes on that stuff. But it was all very valuable
and we’re thankful for that. Yeah. And then we’re going to link in the
show notes to… They have a beautiful deck. I actually just downloaded it again to refresh
myself with it. But yeah. Shoelace is sharing with us, I think, it’s 54 pages is what it
is. Yeah. Yep, it’s all about this Customer Journey
Retargeting. It’s going to let you really understand how to do it within your business
and you can do it yourself or Raza built an awesome app that can help you do this. Talk
a bit about Shoelace and the types of clients that would be a good fit for them. Sure, yeah. (I’d be) happy to. So we typically
say that the right customer to start working with us is a brand that is probably generating
somewhere like a couple hundred thousand dollars a year in sales or at that threshold. Below
that, I think that we have a lot of thoughts on releasing free or cheaper products that
are more for entry-level eCommerce founders and brands. But at the moment –just for the sake of remaining
focused and being able to create as much value as possible for our brands– we say that the
threshold for Shoelace to make a lot of sense for your business, is if you’re doing at least
a couple hundred thousand dollars a year in sales and have, let’s say, 10,000-15,000 visitors
a month visiting your website. Below that moment, it doesn’t make a lot of sense to
you. Shoelace. That being said, stay tuned because we have
a lot of ideas and plans in our roadmap to be able to release products and offerings
for more entry-level eCommerce founders that are still getting their business off the ground.
But for folks who do meet that sort of threshold where it does make sense to bring on a Shoelace
help, we’re somewhere like an automated product that has a lot of integrations with your marketing
ops, deep integration with your eCommerce store to be able to create these journeys
very effectively. But it also comes with a dedicated account
strategist that works on your retargeting journey and helps you make the best of them.
And so that’s the experience you get when you join Shoelaces. You see an app that has
a dashboard that allows you to visualize your retargeting journeys. You see what people
are seeing on day 2 and day 8, etc. And it’s a lot more visually appealing than trying
to stare that down inside ads manager which can get very cumbersome. And we have interesting integrations with
like loyalty providers, with email providers that are able to use that content inside of
your journey experience that makes it a lot more straightforward. Also, Product Review apps really use that
user-generated content in the journey ad experiences. And so yeah. I’d say that’s the main benefit
to Shoelace. A lot of automation that will make creating these journeys very efficient.
Because for anybody who tries to do this on Facebook, you’ll see that it’s quite the time-suck
if you want to create a very kind of granular journey that tells a phenomenal story. And so to be able to get that mundane activity
automated through our software and the strategic help from our account strategists that have
you spent millions of dollars on other retargeting campaigns for fast growing eCommerce brands,
it’s a good mix to help growing eCommerce brands to implement CFR effectively for, what
I think, is a kind of a bargain for the prices that we charge. But we also have a 14-day trial for people
to judge for themselves. I think a lot of people come to Shoelace and we’re okay with
this because honestly, our view is that if the entire industry does journey retargeting
the way we talk about it, it will probably be fine. So a lot of people come to Shoelace
and see what we do and all the ads that we run inside their own ads manager, running
with their own Facebook Pixel. So a bunch of people have come and tried Shoelaces,
gotten inspiration and then continued off doing it on their own, which is just cool.
Often what happens is, people will try that for a few months and then come back to use
Shoelace because it’s very time-consuming. But even for that perspective, I think, we’re
happy to spread the message of CJR even if it means (you) come (and) try Shoelace, learn
what we do and decide to do it yourself, it’s fine by us. But yeah, if you’re intrigued by this journey
approach to retargeting, probably couldn’t hurt to give Shoelace a shot and see what
we’re about. Yeah. I’m sure that you guys are going to
hit them up with some sexy customer journey retargeting ads of your own. That’s right. Yeah. What’s funny is that we
always try to improve that. I forget this quote. It talks about like, “The shoemaker
shoe is always filled with holes in it.” And so like we spend so much time on our clients
accounts that often we’re like, “Hey, we really need to level up our own retargeting journeys.”
Because people call us out on that sometimes when they’ll see the same ad, like, “Hey,
Shoelace…” (laughs) (laughs) …I’m seeing the same ad here.” And we’re
like, “Damn. Thanks for keeping us on our toes.” (laughs) (laughs) The thing is, that we can’t even use Shoelace
for ourselves. Because Shoelace is built entirely for eCommerce marketing and not necessarily
for software marketing. But oftentimes we think about how we can probably help a lot
of SaaS marketers do CJR. So, we see the pains of doing journey retargeting just by having
to do our own journey retargeting and we often wish that there was a Shoelace for Shoelace.
A Shoelace for Shoelaces. (laughs) Awesome. Well, thank you so much for being
on the show. I learned a lot. I’m sure Annette did. She’s been scribbling in her notepad
this whole time. Yeah. Thank you. Awesome. Thank you. Yeah, my pleasure. It was great. Thanks, guys. We can’t thank our guests enough for coming
on the show and sharing the truth. links and more will be available in the show notes.
If you found any actionable advice in this podcast that you’d like to apply to your business,
please reach out at electriceye.io/connect. Please make sure to subscribe to Apple Podcasts,
Spotify or your podcast app of choice.

Leave a Reply

Your email address will not be published. Required fields are marked *