How Shoelace Plans to 3X This Ecommerce’s Business to 200% Growth This Year

Industry: Women’s Fashion‍

Services: Facebook, TikTok and Google Ads

At Shoelace, we’re dedicated to driving growth for our clients, and we understand that doing so requires more than just creative ideas and marketing tactics. Exceptional growth requires a data-backed approach to decision making. That’s why our team strives to make data-driven decisions that are tailored to the unique needs of each of our clients.

As we start a new quarter, it's important for businesses to review their performance trends from the past few years in order to adjust their strategy for the upcoming year. Our team at Shoelace has identified both low and high seasons for our clients and have made changes to their individual marketing strategies accordingly.

How do we do this? We chatted with one of our Growth Partners, Sahitya, to provide an inside look at how we’re planning on scaling one client’s ecommerce growth by an ambitious 200% this year. Read on for a closer look at how we are using data-driven decisions to help this client achieve their goals and drive growth for their business.

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What is something you’re doing with your clients early in the new year?

‍Sahitya: We like to start off the new year with a review of our clients’ performance trends over the last few years so we can highlight both low and high seasons for them. Each one of our clients is different, and they each have different fluctuations in their business based on the time of year. We share the data on performance trends with them and adjust our strategy for the upcoming year based on that data.

When planning our strategy for the new year, we identify opportunities based on the overall numbers we see reported across different channels such as organic, email, paid social like Facebook ads, PPC, conversion rates, best-selling products, and more. We are then able to establish expectations for the upcoming year and make changes as needed, as well as identify new digital marketing channels to test in order to continue scaling their sales.

Our team is also working closely with clients to plan upcoming sale campaigns and making sure all the content we’ll be needing to effectively execute successful ad campaigns is ready. We’re doubling down on the best performing assets and revising content based on that in paid and organic channels.

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What are you doing when it comes to business planning for 2023?

‍Sahitya: In terms of business planning for 2023, we are identifying the brand's overall business goals and translating them into specific paid media goals for the year. We are building a high level strategy and explaining to our clients what we will need to achieve these goals. This includes creating a shared marketing calendar, tracking progress against goals, and taking corrective measures as needed.

For example, one of our clients (a women’s fashion brand) has set a goal to grow their top-line business by 3X (200% growth) in 2023.

Is 200% growth ambitious? Yes. But, it’s possible given the data we found and the strategy we developed.

When we look at their $2 million in sales through their Shopify store in 2022, we can see that $1.5 million of that reported revenue came from the three paid channels we leverage for them.

To achieve the 3X growth they want in 2023, we can assume that we’ll need to grow all three of those paid marketing channels in order to achieve their sales goal.  

Having determined this paid media revenue goal for 2023, we can now go through last year’s performance to identify trends and set monthly goals. Once we’ve identified trends and built out strategies, we’ll align with the client on what we will need to achieve 200% growth in 2023.

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What’s it going to take to achieve 200% growth for this ecommerce client?

Sahitya: To achieve our goals, we’re implementing a comprehensive strategy that includes the following:

1. Brand Building: To increase visibility and bring new eyes to the brand, we have proposed investing more in TikTok and Facebook awareness advertising.
2. Q1 Seasonality: We know that Q1 is a slower sales period for this client, so during this quarter we are focusing on creative and copy testing, identifying new audiences, and building awareness to set a strong foundation for the upcoming, stronger sales quarters.
3. Increasing Budgets: To successfully scale the business by 200%, we are increasing budgets to drive growth across all channels.
4. Annual Sales: This client has three big sales events plus new product launches throughout the year. We are working closely with the client planning tests around these calendar anchor points.

We’ll also be tracking our numbers meticulously as the weeks go on. We’re building out a shared Goal Tracking document with the client that’s updated regularly to make sure we’re hitting our targets (using MER to measure effectively!) throughout the year.

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Shoelace Is Here To Help You Grow Your Brand

Overall, our team at Shoelace is committed to working closely with our clients to set and achieve their individual business goals. By reviewing performance trends, identifying opportunities for improvement, and planning ahead, we are confident that our clients will set themselves up for success in the coming year. By leveraging the power of Facebook advertising, PPC, Google Ads, email marketing and other digital marketing channels, we drive sales for ecommerce businesses.