- Relieving your customers of anxiety
- Focusing on retention just as much as acquisition
- Increasing necessity for marketers to minimize their dependence on SEO
These were a few of the topics that gave us the warm and fuzzies during Bill Gurley’s ‘Fireside chat” with Bloomberg’s Emily Chang on the “Future of E-commerce”. Referral marketing, and the one to one communication it leverages into conversions, has the power to do all of these things and more.
Bill Gurley has been right about the future of ecommerce more than a couple of times in his storied career as general partner of Benchmark Capital. Notable investments of his include Uber and GrubHub, both of whom attribute much of their growth to referral marketing. So, it’s exciting, but not surprising, that Gurley’s vision of ecommerce in the years to come places the core competencies of referrals directly at the forefront.
In the interview, Bill shares how he sees the current state of ecommerce, which trends he believes will dominate the consumer marketplace the next 5-10 years, and what he knows to be the most valuable customer acquisition channel.
We’ve included a few of our favorite quips below, but to get the full effect, we highly recommend you take some time to watch it yourself
On the future of SEO
“SEO dependency is temporal. It’s not long term. Deep understanding of customer, retention, loyalty, and advocacy is more important than being good at SEO”
“You have to understand the customer to the point where you’re offering them something that is personalized and differentiated”
On acquisition and retention
“There’s nothing better than an organic customer that comes from word of mouth… There’s no better equity than having someone walking around telling people they should shop at your place”
Bill Gurley knows that the best marketing is personal. At Extole, we know that a referral from a consumer to their friends will always be the sincerest form of personalization. And as Gurley harps throughout, brands will be smart to “reduce as much consumer anxiety as possible.” What better way than with a personal referral from a trusted source?
Take a look at the interview in its’ entirety here and let us know what you think.