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MarTech Interview with Bill Lorimer, VP of eCommerce at SmartBug Media

Posted on by darion

Bill, could you briefly tell me about your career in e-commerce and marketing that led you to your current role at SmartBug Media?
I entered the e-commerce world in early 2012 as a platform developer, but quickly realized that my strengths were better suited to customer and brand management. Over the course of a decade, I have had the opportunity to lead numerous projects that helped corporate brands jump headfirst into the digital world and grow rapidly. Over the years, I have been able to leverage my professional experiences to help me become the leader I am today.

I found SmartBug while job searching in early 2023 and was really intrigued by the opportunity to join the company and work on their e-commerce side. Most know SmartBug as a powerhouse in the HubSpot ecosystem, so it’s been a fun journey focusing on the e-commerce side and working to grow that offering within the larger organization.

Could you walk us through the most important elements that companies should take into account when analyzing the effectiveness of their holiday campaigns?
Specifically speaking to email and SMS programs, a key area to focus on is promotion effectiveness. Reviewing data points like promotion type, conversion effectiveness, discount type, and promotion duration is key to understanding what really worked and what didn’t work for your consumers.

Another key area to focus on is engaging your audience based on specific segments. The strategy of disseminating information to all consumers usually ends in failure, so it is extremely important to reach the right audience at the right time. When you know your audience and can segment it based on data, your campaigns will perform better and help you meet/exceed your goals and KPIs. It’s also important to review your data year over year, if possible, to leverage trends that will help you drive strategy and performance during peak sales moments.

Can you highlight the most important pieces of data across all channels that companies should focus on when assessing the success of their holiday campaigns?
At SmartBug, we focus on multiple data points to evaluate the success of our email marketing programs. Key areas we typically focus on include:

  • Open rates
  • Deliverability metrics (bounce rate, unsubscribe rate, spam complaint rate)
  • Click-through rates
  • Rates for placed orders (conversion)

It’s also important not to over-focus on one area of ​​your business. It’s important to look at all your channels together and see where you can draw cross-channel insights. Some of the key areas we focus on when it comes to other channels are:

  • Traffic data: number of sessions, traffic sources (organic, paid, referral, etc.), bounce rate, new vs returning
  • Sales data: conversion rate, average order value, best selling products, cart abandonment rate

How do you think companies should set key performance indicators (KPIs) for upcoming campaigns based on information gained from previous holiday results?
You should always let your data guide you in the right direction. It can tell a story and inform you where you need to focus your efforts. Reviewing your best-performing campaigns from previous key sales moments can help you determine what strategies to use in your current sales moment. It can also help you focus on KPIs that have historically performed well and use those KPIs to set benchmarks and goals for future strategies. Your past insights and data are the best path forward when it comes to setting future strategies.

What is your approach to assessing the return on investment of holiday campaigns and what factors would you recommend companies consider when allocating resources for future campaigns?
To truly evaluate the ROI of your holiday campaigns, you need to understand a number of data points that are tied to your holiday campaign strategies. First, you need to define the costs that were associated with your holiday campaigns. You should include all of your holiday campaign expenses, such as platform fees, creative fees, strategy fees, cost of goods sold, and any overhead. Being able to pull out all of these cost metrics will then give you your spend, which can help you determine your ROI based on your revenue results for your holiday campaign.

Could you share some of the strategies you’ve found most effective in improving future campaigns, especially after peak sales periods?
In most cases, companies will follow similar patterns and timelines when it comes to when key sales moments will occur. Black Friday and Cyber ​​Monday are good examples. Most brands will target these key sales moments, and consumers may be overworked during this time and will naturally make a purchase at this time.

It’s also really important to have a strategy that works when those key sales moments are over. At SmartBug, we tend to focus on rewarding loyal customers and sometimes even customers who didn’t make a purchase at a key sales moment. Having a variety of strategies that reward loyal customers while also trying to attract new customers can really help your brand survive the post-holiday shopping slump.

Could you share a strategy that you found effective in optimizing the performance of holiday campaigns?
Don’t be afraid to really dive into variety. If you start with a page-wide promotion early in the season that doesn’t change over time, you can easily tire out your consumers, which will likely lead to negative results. You need to rely on strategies that change and offer unique opportunities to retarget your audience in a way that keeps them engaged and excited. You need to know your audience and how to reach them. Data is your best friend here and can help you steer in the right direction when it comes to optimizing your holiday campaign results.

How do you keep up with e-commerce and marketing trends and what recommendations do you have for companies to adapt their strategies accordingly?
There are a lot of resources that can really help you understand trends in the e-commerce and marketing world. I’m a big fan of podcasts because I can put on my headphones, listen, and do other things. Multitasking is important to me because I usually have a lot of things going on at once.

One key trend I’ve learned from my e-commerce journey (and listening to way too many podcasts) is that what works for one brand may not work for another. You need to keep an open mind when you dive into strategic planning. You need to learn fast and adapt even faster to stay ahead of the competition. Don’t be afraid to fail, as long as you learn from it.

Given your extensive experience, what advice would you give to marketers looking to improve their holiday campaigns in 2024?
You need to prioritize dedicating resources to defining and optimizing your strategies and how you’re handling holiday performance in 2024. Data can be overwhelming, and if you don’t analyze your past data, it’s virtually useless. This historical data can tell a story and can guide you in the right direction to meet and exceed your goals. Using 2023 data and trends to inform your 2024 strategies will be key to achieving success and staying ahead of the curve.

Are there any final thoughts or key takeaways you’d like to share about how holiday campaign analytics connects to effective business strategies?
Always let your data inform the approach you should take. Your past data can be invaluable in determining which direction you should go. Charting your way forward isn’t always easy, but the experience you gain can be a big help as you prepare for the holidays in 2024.