How to Maximize Your eCommerce Marketing Efficiency with the PROFIT Framework → Kunle Campbell

Subscribe to Our Conscious Commerce Newsletter:Stay updated with the latest insights and tips by subscribing to our newsletter here: https://subscribe.2xecommerce.comShownote available on: https://2xecommerce.com/podcast/ep453/S9 EP54:In this episode of the 2X eCommerce Podcast, host Kunle Campbell delves into marketing efficiency, a critical component of growing an eCommerce business sustainably. He introduces the “PROFIT Framework,” a strategic guide designed to help businesses maximize returns on their marketing investments by focusing on profitability. Kunle breaks down each aspect of the framework, including understanding your marketing efficiency ratio (MER) and contribution margin, retargeting and demand capture, demand generation optimization, and the effective use of email and SMS marketing.The PROFIT FrameworkP: P&L Impact and Marketing Efficiency RatioUnderstanding the marketing efficiency ratio (MER) and how contribution margin plays a key role in ensuring profitability.R: Retargeting and Demand CaptureStrategies for retargeting to capture warm leads at a lower cost, and the types of content that work best for demand capture.O: Optimizing Demand Generation ActivitiesKunle discusses the importance of demand generation and how UGC, influencer content, and branded videos can fuel this process.F: Frequency and Relevance in Email and SMS MarketingThe role of segmentation, frequency, and deliverability in maximizing email and SMS marketing effectiveness.I: Integration Across Channels and ToolsHow integrating data from all departments improves the efficiency and effectiveness of marketing efforts.T: Testing and Continuous ImprovementKunle highlights the importance of continuous testing, from creative formats to landing page optimizations, ensuring ongoing improvement.(00:00) - Introduction to Scaling eCommerce in 2024 (00:46) - Maximizing Marketing Efficiency with the PROFIT Framework (02:01) - Understanding the P&L Impact on Marketing Efficiency (06:38) - Retargeting and Demand Capture Strategies (07:56) - Optimizing Demand Generation Activities (11:10) - Boosting Visibility with Reviews and Ratings (13:35) - Effective Email and SMS Marketing (17:19) - Integrating Channels and Tools for Marketing (19:43) - Continuous Testing and Iteration for Success (23:24) - Conclusion and Key Takeaways Connect with 2X eCommerce:Website: 2X eCommerce Website → https://2xecommerce.com/podcast/Instagram: 2X eCommerce Instagram → https://www.instagram.com/2xecommerce/Twitter: 2X eCommerce Twitter → https://twitter.com/2XeCommerceYouTube: 2X eCommerce YouTube → https://www.youtube.com/@2XeCommerce/Get a Copy of Kunle’s BookElevate your e-commerce game with Kunle Campbell's book, "E-Commerce Growth Strategy: A Brand-Driven Approach to Attract Shoppers, Build Community and Retain Customers." Discover practical strategies and insights to boost your e-commerce growth.Buy on Amazon → https://amzn.to/3ybY6WSBuy on Walmart → https://bit.ly/3swOuDeBuy on Kogan Page → https://bit.ly/44DylLnBuy on Barnes & Noble → https://bit.ly/3Pgd4B4Buy on WHSmith → https://bit.ly/4bfr9r3Sponsors:This episode is brought to you by: REVIEWS.ioDrive Sales & Reduce Marketing Spending with REVIEWS.ioREVIEWS.io offers an affordable, all-in-one platform for collecting and displaying customer reviews. It’s easy for you to set up and simple for your customers to leave reviews, helping you boost both trust and conversions from anyone discovering your brand on Google.With REVIEWS.io, you can increase your Google conversions by up to 26%, improve click-through rates, and lower your ad costs—all with a platform built for busy eCommerce operators like you.Get 10% off your first year—mention ‘2x eCommerce’ when you sign up.New customers only. Terms and conditions apply.Creators & Guests Kunle Campbell - Host