Catch The Replay
Andrew Forman taught us how offering donations can be a viable (& philanthropic) discounting alternative
I've had several conversations recently about the danger of discounts in ecommerce.
The general sentiment is that if a buyer is bombarded with a discount popup within seconds of encountering your brand, going forward, they will perceive your products to be worth the discounted price, not the full price.
In other words, you're communicating that they're not worth what you say they are.
Wednesday, Andrew Forman of Givz walked us through the basics of adding the option to donate brand dollars to charities during the purchase flow. We also explored how this could work specifically for subscription brands that want to add more meaning to their company missions.
Should your new CTA be "Subscribe & Save the World"?
Be sure to catch the video replay on YouTube or listen to the audio version on your favorite podcast player.
Session highlights (links go to YouTube)
1:50 - Andrew's journey to founding Givz, the company's values, and how it helps ecommerce businesses stop running discounts, build goodwill with customers, and increase profits
10:00 - How social good can be woven into your company authentically
13:40 - How brands can leverage donations without coming across as opportunistic
18:23 - How discounts on the first order can decrease overall LTV
22:10 - Quick math breakdown of how the option to donate to a charity works
23:45 - Why customer agency is so important in today's landscape
30:22 - How a donation service can fit in to subscription selling
39:48 - The math you'll want to do if you’re considering adding donations
48:40 - Building customer segments based on what they’ve donated to previously
49:42 - How Recharge sellers can get setup with Givz (and possibly use both Givz and ARPU together)
52:40 - Where to find Andrew and Givz
Experts on deck
We meet every other Wednesday at 2 p.m. ET to keep the discussion going with ecommerce subscription experts. If you register once, you'll be registered for each upcoming session. Here's a look at what's coming:
Brad Hoos, CEO of The Outloud Group
💡 Idea: Create loyalty journeys with your upcoming shipment messages
Sure, it's great to remind your subscribers that their next shipment is coming soon, but what if you sent custom messages and upsell product recommendations based on how long they've been subscribed to a particular product?
For instance, on the first 3 renewals, you might focus on offering quick tips for using the product they've subscribed to. Plus, you can use these early messages to condition them to expect good things in your emails. Try including the chance to claim a free item to be added to their shipment.
During subsequent renewals, you might shift to letting them know to expect a bigger reward when they hit specific renewal counts, like 6, 9, and 12 months. You can build up anticipation for those larger "prizes" while introducing them to upsell products that compliment the one(s) they've subscribed to.
You'll want to map out what an amazing subscriber journey might look like (hint: ask your most loyal subscribers for feedback!) and track LTV and retention metrics as you test what you build.
Note: ARPU's new campaigns feature will allow you to send unique messages and upsell options based on renewal count, subscription item(s), or both. We can help get you set up. Check out a full tutorial to learn more.