Cooperation, Inspiration and Discovery, feat. Sherline, Founder and CEO of co-op Commerce
Future Commerce · with Conner Sherline · December 4, 2020 · 41 min
Summary
Co-op Commerce offers a compelling solution for DTC brands to reduce skyrocketing customer acquisition costs by enabling them to partner and cross-promote complementary products. Their platform facilitates post-purchase recommendations, allowing brands to organically acquire new customers through a network of like-minded businesses without relying solely on traditional ad platforms. This strategy helps brands collaboratively grow their customer base and elevate their brand perception.
Key takeaways
Leverage post-purchase brand partnerships to drive customer acquisition and reduce reliance on expensive paid channels. Presenting complementary brands after a conversion captures customer attention when they're highly engaged.
Focus on partnerships with non-competitive brands that serve a similar customer demographic to achieve synergistic growth and offer a "products you may also like" experience similar to Amazon.
Utilize an evergreen credit system based on impressions to ensure equitable exposure within a brand partnership network. The more a brand promotes others, the more its own products are promoted.
Implement algorithms that analyze cart data to recommend truly complementary products, even unexpected ones, maximizing the relevance and effectiveness of cross-promotions.
Prioritize building a strong community of brands before focusing on the technology. This fosters trust and shared goals, paving the way for successful collaborative commerce.
We’re joined by Conner Sherline, CEO of co-op commerce, to talk about consumer acquisition, brand partnerships, cross-promotion, and how co-op is making it all happen.
Leverage post-purchase brand partnerships to drive customer acquisition and reduce reliance on expensive paid channels. Presenting complementary brands after a conversion captures customer attention when they're highly engaged.
What does this episode say about paid acquisition?
Focus on partnerships with non-competitive brands that serve a similar customer demographic to achieve synergistic growth and offer a "products you may also like" experience similar to Amazon.
What does this episode say about brand & content?
Utilize an evergreen credit system based on impressions to ensure equitable exposure within a brand partnership network. The more a brand promotes others, the more its own products are promoted.
What does this episode say about customer retention?
Implement algorithms that analyze cart data to recommend truly complementary products, even unexpected ones, maximizing the relevance and effectiveness of cross-promotions.
What does this episode say about dtc strategy?
Prioritize building a strong community of brands before focusing on the technology. This fosters trust and shared goals, paving the way for successful collaborative commerce.
