We Quadrupled Our Income in 2022, but Then Things Started to Change
Forged Flare, a handmade ornaments company, had a successful 2022, with a quadrupled income compared to the previous year. However, in 2023, they noticed a shift in their online advertising strategy. Despite an increase in ad spend, sales started to slow down. To adapt, they decided to cut back on certain ad platforms and experiment with new marketing approaches.
Building Deeper Relationships with Customers
One tactic Forged Flare implemented was to focus on building stronger relationships with customers. They increased their email marketing efforts, sending two emails a week—one sales-oriented and one content-oriented. By providing valuable content and insights, they were able to engage both existing customers and potential buyers. This approach led to a 130 percent increase in conversions attributed to email marketing.
Tapping into Customer Loyalty and Support
Forged Flare recognized the value of their loyal customer base and explored ways to leverage their support for business growth. They considered launching an affiliate program and tested it with a micro-influencer during the holiday season. The positive results have motivated them to expand the program to their best customers, rewarding them for their ongoing support.
Seeking Support from Other Business Owners
When faced with a 50 percent decrease in sales compared to the previous year, Forged Flare sought insights from other small business owners. By engaging with various communities and participating in collaborative events, they were able to gain support and access to new audiences. Collaborative opportunities and shared audiences will be a focus for them in the coming year.
Getting More Strategic with Ads and Monitoring Performance
Although Forged Flare scaled back on social media ads, they still recognize the importance of online advertising. They have become more targeted and strategic with their ad budget, focusing on platforms like Amazon and Etsy where users are more likely to make purchases. They have also learned to tailor their ads based on the platform and audience. Constant testing and adapting to change have been crucial for their success.
Constant Adaptation is Key to Succeeding with Online Advertising
Forged Flare emphasizes the importance of constant testing and adaptation in the ever-evolving world of online advertising. What worked in the past may not work in the present, and it’s essential to stay agile and try new strategies. Despite the challenges of 2023, Forged Flare remains confident that their willingness to adapt quickly will lead to continued success in the years to come.
Did you miss our previous article…
https://onlinemarketingagencies.net/how-integrating-seo-and-social-media-has-helped-me-grow-my-site-to-400k-impressions-per-month/
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