Outdoor Retailer - February 2021 - 18

IDEAS / The Weekly Chat

Lexer President David Chinn shares strategies on how to improve
paid social performance with a clearer understanding of the
platform and your customers. By Elizabeth Burnam
LEXER PRESIDENTAND CMO DAVID CHINN HAS
spent his career helping retailers across North
America and Asia use their customer data to
drive insight and improve business performance. He talked to us about the mistakes
brands make when marketing on social media
and how to solve them.
What one mistake do brands make when it
comes to marketing on social media?
Facebook marketing-encompasing Instagram,
Messenger, and Audience Network-remains
a top channel for customer acquisition. But as
outdoor brands and retailers pump more money
into this increasingly expensive channel, maintaining great returns can be hard.
The biggest mistake marketers make is not
using customer insights to inform their audience targeting. This mistake happens when
marketers only use Facebook data to create an
audience, or when they build lookalike audiences based on their entire customer database. If you build lookalike audiences based
on every customer, including low-value and
churned customers, you'll end up sending ads
to disinterested or low-quality audiences. Low
engagement with ads leads to higher costs and
makes it more expensive to get your ad in front
of those most likely to become new customers.
Facebook advertising works well with the
right knowledge and strategy. Its audience
match rate and coverage, flexible bidding
strategies, and ease of testing make it accessible and full of potential for companies of all
sizes. For example, snow-equipment retailer
Corbetts recently used Facebook ads for the
first time with Lexer's help and saw amazing results, with some audiences delivering
a return-on-ad-spend (ROAS). However,
before you can reap Facebook's benefits, you

18 OUTDOOR RETAILER

/ February 2021

need customer insights and a strategic plan
for building ads that genuinely resonate with
your high-value audience.
What's the key to overcoming that challenge?
To master Facebook advertising, you need
complete customer profiles. Using these profiles, known as a " single customer view, " you
can segment customers by key characteristics such as lifetime value, demographics, and
product interests.
How can technology help?
Using software like a Customer Data Platform
(CDP) allows a brand or retailer to easily aggregate all their customer data into a single
customer view or profile. Once they have that
access to information about their customers'
online and offline purchases, demographics,
products or areas of interest, etc., everything
else can fall into place. Take lifetime value as
an example. Lifetime value is the most important metric for building effective Facebook audiences. For most outdoor brands, about 80%
of sales and profits come from only 20% of
customers. You can drive significant improvements in paid social performance by building
lookalike audiences to mirror this top 20%.
Segment your audiences by demographics too. This simple characteristic is too often
overlooked, but it makes a massive difference
in performance. For example, if your campaign
features surf and wetsuit products, consider
narrowing your audience to people located
near cold-water locations to start. Likewise,
a women's brand should start by only targeting women. Men might make purchases for
gifts and holidays, but gifting advertisements
should feature very different creative and messaging and should be tested separately.

David
Chinn

How do you gauge the success of a social
media marketing campaign?
Frequent tests will tell you what is-and
isn't-working. To gauge the success of your
social campaigns, you need external measurement and testing tools. With a test-and-learn
approach, each campaign provides the opportunity to learn more about your customers.
Always begin with a focused hypothesis and
A/B test ad sets to understand which audiences, messaging, creative, and bidding strategies
are most effective for your business. The rapid
results from these easy-to-implement tests
will provide you with valuable insights about
how to improve future performance.
As you develop your segmentation capabilities, you may also begin segmenting and
testing audiences by other characteristics like
purchase history, channel preferences, email
engagement, web behavior, external data enrichment, predictive analytics, and more.
CDP can help you find your high-value
customer segments, accurately measure
performance, and test and optimize campaigns. With our team of outdoor enthusiasts, Lexer has become the CDP of choice for
outdoor brands like Black Diamond, Corbetts,
Mountain Khakis, Rip Curl, and Quiksilver.
How do you see social media marketing
campaigns evolving?
Ultimately, social media marketing isn't going
anywhere despite trust in the platforms taking a hit in recent years. As marketers become
more conscientious about maximizing their
budgets and targeting real people instead of
bots, third-party tools like Lexer can help you
gain greater control over your advertising
performance and restore confidence in paid
social. O.R.
David Chinn will lead the webinar How to
Use Your Customer Data to Improve Facebook
Advertising on Feb. 4 from 9-10 a.m. PST at
Outdoor Retailer Wnter Online. Find more information on page 20 and register here.

Courtesy Lexer

Demystifying Social
Media Marketing


https://lexer.io/ https://app.swapcard.com/event/outdoor-retailer-winter-online/planning/UGxhbm5pbmdfMjk3NDkz

Outdoor Retailer - February 2021

Table of Contents for the Digital Edition of Outdoor Retailer - February 2021

Outdoor Retailer - February 2021
CONTENTS
THE PULSE
HEADLINES
BIG PICTURE
CASE STUDY
IDEAS
THOUGHT LEADER
THE WEEKLY CHAT
OUTDOOR RETAILER WINTER ONLINE
SIZE MATTERS
BREAD + BUTTER
GEAR GALLERY
HOT PICKS
COUNTER CULTURE
THE VIEW
FIELD NOTES
#SHOPLIFE
BACKSTORY
Outdoor Retailer - February 2021 - Outdoor Retailer - February 2021
Outdoor Retailer - February 2021 - Cover2
Outdoor Retailer - February 2021 - 3
Outdoor Retailer - February 2021 - CONTENTS
Outdoor Retailer - February 2021 - 5
Outdoor Retailer - February 2021 - 6
Outdoor Retailer - February 2021 - THE PULSE
Outdoor Retailer - February 2021 - HEADLINES
Outdoor Retailer - February 2021 - 9
Outdoor Retailer - February 2021 - 10
Outdoor Retailer - February 2021 - 11
Outdoor Retailer - February 2021 - BIG PICTURE
Outdoor Retailer - February 2021 - 13
Outdoor Retailer - February 2021 - CASE STUDY
Outdoor Retailer - February 2021 - 15
Outdoor Retailer - February 2021 - IDEAS
Outdoor Retailer - February 2021 - THOUGHT LEADER
Outdoor Retailer - February 2021 - THE WEEKLY CHAT
Outdoor Retailer - February 2021 - OUTDOOR RETAILER WINTER ONLINE
Outdoor Retailer - February 2021 - 20
Outdoor Retailer - February 2021 - 21
Outdoor Retailer - February 2021 - SIZE MATTERS
Outdoor Retailer - February 2021 - 23
Outdoor Retailer - February 2021 - 24
Outdoor Retailer - February 2021 - 25
Outdoor Retailer - February 2021 - BREAD + BUTTER
Outdoor Retailer - February 2021 - 27
Outdoor Retailer - February 2021 - GEAR GALLERY
Outdoor Retailer - February 2021 - 29
Outdoor Retailer - February 2021 - 30
Outdoor Retailer - February 2021 - 31
Outdoor Retailer - February 2021 - HOT PICKS
Outdoor Retailer - February 2021 - 33
Outdoor Retailer - February 2021 - 34
Outdoor Retailer - February 2021 - COUNTER CULTURE
Outdoor Retailer - February 2021 - THE VIEW
Outdoor Retailer - February 2021 - 37
Outdoor Retailer - February 2021 - 38
Outdoor Retailer - February 2021 - 39
Outdoor Retailer - February 2021 - FIELD NOTES
Outdoor Retailer - February 2021 - #SHOPLIFE
Outdoor Retailer - February 2021 - BACKSTORY
Outdoor Retailer - February 2021 - Cover3
Outdoor Retailer - February 2021 - Cover4
https://www.nxtbook.com/emerald/outdoorretailer/may_2021
https://www.nxtbook.com/emerald/outdoorretailer/april_2021
https://www.nxtbook.com/nxtbooks/outdoorretailer/march_2021
https://www.nxtbook.com/nxtbooks/outdoorretailer/february_2021
https://www.nxtbook.com/nxtbooks/outdoorretailer/january_2021
https://www.nxtbook.com/nxtbooks/outdoorretailer/december_2020
https://www.nxtbook.com/nxtbooks/outdoorretailer/theweekly_07302020
https://www.nxtbook.com/nxtbooks/outdoorretailer/theweekly_07212020
https://www.nxtbook.com/nxtbooks/outdoorretailer/2020summer
https://www.nxtbook.com/nxtbooks/outdoorretailer/theweekly_07072020
https://www.nxtbook.com/nxtbooks/outdoorretailer/theweekly_06302020
https://www.nxtbook.com/nxtbooks/outdoorretailer/theweekly_06232020
https://www.nxtbook.com/nxtbooks/outdoorretailer/theweekly_06162020
https://www.nxtbook.com/nxtbooks/outdoorretailer/theweekly_06092020
https://www.nxtbook.com/nxtbooks/outdoorretailer/theweekly_06022020
https://www.nxtbook.com/nxtbooks/outdoorretailer/theweekly_05272020
https://www.nxtbook.com/nxtbooks/outdoorretailer/theweekly_05192020
https://www.nxtbook.com/nxtbooks/nxtbook_bhtest/weeeekly_05052020__JJ
https://www.nxtbook.com/nxtbooks/outdoorretailer/theweekly_05122020
https://www.nxtbook.com/nxtbooks/outdoorretailer/theweekly_05052020
https://www.nxtbook.com/nxtbooks/outdoorretailer/postshow2020
https://www.nxtbook.com/nxtbooks/outdoorretailer/daily2020_day3
https://www.nxtbook.com/nxtbooks/outdoorretailer/daily2020_day2
https://www.nxtbook.com/nxtbooks/outdoorretailer/daily2020_day1
https://www.nxtbook.com/nxtbooks/outdoorretailer/preshow2020
https://www.nxtbook.com/nxtbooks/outdoorretailer/2020winter
https://www.nxtbook.com/nxtbooks/outdoorretailer/postshow_summer2019
https://www.nxtbook.com/nxtbooks/outdoorretailer/day3_summer2019
https://www.nxtbook.com/nxtbooks/outdoorretailer/day2_summer2019
https://www.nxtbook.com/nxtbooks/outdoorretailer/day1_summer2019
https://www.nxtbook.com/nxtbooks/outdoorretailer/preshow_summer2019
https://www.nxtbook.com/nxtbooks/outdoorretailer/2019summer
https://www.nxtbook.com/nxtbooks/outdoorretailer/postshow2019
https://www.nxtbook.com/nxtbooks/outdoorretailer/daily2019_day3
https://www.nxtbook.com/nxtbooks/outdoorretailer/daily2019_day2
https://www.nxtbook.com/nxtbooks/outdoorretailer/daily2019_day1
https://www.nxtbook.com/nxtbooks/outdoorretailer/preshow2019
https://www.nxtbook.com/nxtbooks/outdoorretailer/2019winter
https://www.nxtbook.com/nxtbooks/outdoorretailer/2018summer
https://www.nxtbook.com/nxtbooks/outdoorretailer/2018winter
https://www.nxtbook.com/nxtbooks/outdoorretailer/201707
https://www.nxtbook.com/nxtbooks/outdoorretailer/2017summer
https://www.nxtbook.com/nxtbooks/outdoorretailer/2017winter
https://www.nxtbook.com/nxtbooks/outdoorretailer/2016summer
https://www.nxtbook.com/nxtbooks/outdoorretailer/2016winter
https://www.nxtbookmedia.com