Yesterday Australia’s first Customer Lifetime Value (CLV) Revolution conference took place with 800 attendees tuning in to the 17 speakers.
The conference brought together top players in the world of ecommerce from the likes of Google, Shopify, and Creative Converters.
Google agency lead Brent Nicholls urged ecommerce businesses to focus on ‘nowcasting’, following a turbulent economy over the past couple of years. Businesses should need to be agile and adaptive to survive — “You can’t stop the waves, but you can learn how to surf,” he said.
Shanelle Mullin, experimentation & analytics lead at Shopify, said, “Discount culture can be a race to the bottom. Make sure you’re matching the right products with the right consumers before you discount drastically. The sentiment is not to discount until they buy it, but to create a buying experience that encompasses their needs, based on the data that you have. Test everything, break out every element that goes into an offer and think about ways to test it.”
Tim Doyle, founder and CEO of Eucalyptus and former head of marketing at Koala added that “Single transaction profitability is increasingly difficult, particularly in a crowded market. We had to augment the transaction, to get the lifetime spend high enough to have a defensible position to afford to be able to grow the brand at scale.”
The virtual conference was held across five time zones and streamed a mammoth eight hours of non-stop ecommerce content.
