In Part 1 of our webinar recap with Ingrid Milman Cordy, Senior Director of Web Experience for Nestlé, we discussed the foundation of Nuun and how that ultimately led them to be acquired by Nestlé.
In Part 2, we get into marketing strategy techniques that can be implemented in any industry.
Combating Rising Customer Acquisition Costs
It is no secret that the cost of everything is increasing these days and customer acquisition costs are no exception. In order to combat the rising costs, there must be an increase in the customer lifetime value, or CLV, of the customers that are acquired.
Ingrid suggests a target goal of 4:1. For example, if a customer costs $20 to acquire, they should have a minimum value of $100 over a two year period. Of course, this largely depends on the industry because of varying product life cycles.
Integrating various channels to interact with consumers creates a consistent brand experience and requires partners to give end to end data attribution in order for accurate reporting. Nuun uses Mikmak, an ecommerce marketing analytics and eCommerce enablement software, that reports where each product is bought. She said because of this, more big retailers are sharing data.
Ingrid says a brand’s goal should be to win back customers from omnichannel to DTC for a deeper customer experience. This can be done through methods such as loyalty programs.
Nuun’s Lifecycle Marketing Tools
No marketing strategy is complete without technology.
For email marketing, Nuun uses Klayivo. Yotpo is their provider for loyalty programs and review collection. They also use Bazaarvoice to syndicate reviews to other retailers.
What Channels Work Best On The Acquisition Side?
Ingrid says without hesitation that Meta (Facebook and Instagram) and Google are the two biggest channels out there. She mentions Nuun is expanding with Pinterest ads.
It’s important for content to be customized for the channel. For example, Nuun has put recipes on Pinterest that have worked well even though recipe content is not used on Facebook or Google.
Ingrid states how Youtube is important for brand awareness and acquisition and that Nuun is testing CTV, such as Amazon and Roku, to gain broader awareness.
Ingrid believes it’s a fascinating time to be innovative with ideas after limitations for data collecting brought on by IOS privacy changes.
The Importance Of Influencers
Nuun is a big believer in influencers. Ingrid mentions how influencers relevant to your industry are the best targeting tool to tell your brand story because of the audience they cultivate.
Not all influencers are created equal. It’s important to be aware of the type of influencer partnership you’re going into:
- Mainstream influencers with mega celebrity status that have multi million followers can give your brand a big reach but with the highest cost.
- Influencers with niche markets, such as female runners, have a smaller following but also a more targeted audience. She mentions the type of influencer can get even more specific, such as a ‘female marathon runner’ or a ‘female trail runner’, who would promote different products tailored to the specific running style.
- Channel specific influencers are an influencer specific to one channel. For example, a Youtube influencer pairs with a Youtube media buy and a Youtube strategy.
- Retailer specific influencers only focus on a specific retailer. For example, the social media account “Target Does It Again”, only focuses on deals for Target.
- Affiliate marketers are considered influencers by Ingrid. Though they have a much smaller audience, their followers are highly engaged in purchasing based on what the influencer says. The pay structure is commission as opposed to just a one payout. Using affiliate marketers is a conversion play while using traditional influencers is an awareness play.
Which Brick And Mortars Are Easiest And Hardest To Work With?
An audience member asked about which brick and mortars are good to work with. While Ingrid mentioned her experience does not directly relate to this area, she mentioned some retailers prefer to work with brokers that they have vetted and then brands will have to hire the brokers to act as a middleman. As for specific retailers, she noted Amazon is difficult to work with but powerful.
Brand Marketing And Product Marketing
When it comes to brand marketing and product marketing, Ingrid sees them as the same as they are both important to have. She believes the marketing funnel is a dated way of looking at marketing and that brands should remove preconceived notions of what type of content people what and when they want it. Ingrid suggests testing to see what works for your brand and your audience but believes it’s more interchangeable than people realize
Changing The Creative Process After Acquisition
Thus far, Nuun’s creative process has not yet changed since its acquisition with Nestlé. While Nuun took a more convservative approach with claims pre-acquisition, they now have the much larger legal resources of Nestle. She is hopeful they will be able to change their messaging to be more impactful in the future.
How To Find And Work With Good Mentors
To close out the webinar, we asked about the impact of a mentor. A great mentor can be invaluable to your career. Ingrid credits her mentors for helping her navigate her weakness of dealing with corporate politics. She believes being aware of your strengths and double down on those are a great strategy. She advises finding people around you that will fill the gaps of your weaknesses as opposed to spending your time identifying and correcting those weaknesses.
You can connect with Ingrid on LinkedIn. Her podcast, Infinite Shelf, is available on all podcast platforms. Quantum webinars return in September with our food and beverage edition. In the meantime, join us if you are in the Philadelphia area on May 23rd-May 24th at Digital Summit Philadelphia!