What’s a successful strategy to counter iOS changes you’ve recently heard of?: I advise brands to spend through the pain. Set up a first party data system like Northbeam and move tracking away from business manager.
Being in Q4 right now, it's hard to shift to new platforms. We were lucky we were already early to Snap and TikTok. We have been on Google since day 1. But if you haven't really spent outside of Facebook, you just need to find a way to better report the actions happening.
CPMs are the real killer here. It will just be twice as expensive as last year for every user. If you can own your data and solve the tracking/reporting problem, you will still have higher costs. We are seeing CPMs up 300% with some audiences. Clicks will cost more.
Need to focus time, energy, and resources on post click optimization. Why are you sending traffic to your Shopify collections page? Has that been A/B tested? If clicks are going to cost 5 bucks you better convert at 5%+
How are you navigating supply chain issues?: We are always inventory heavy. We try to have the next 12 months on hand. So we can still sea things and just wait for the delay, but we can also air because of how small our items are.
But there is no solution here. Things are just delayed and will take a long time to be made and shipped. If you can't air stuff, and you have an empty warehouse you just have to raise prices and skip Q4. This is what will kill a lot of brands this year, people being over exposed or leveraged and counting on product for peak.
To read more of Sean’s insights, including what he’s seeing with acquisitions, click here.