Bankruptcy to $975 Million

🚀 The Story Loom and the power of branding pivot and right positioning.

In partnership with

Howdy Readers 🥰 

In this newsletter, you’ll find:

🚀 How Loom Transformed to a $975M Powerhouse

🚀 7 LinkedIn Ad Settings and Tactics You Didn’t Know You Needed

🛒 Amazon Takes on Shein and TikTok with New Discount Storefront

If you’re new to ScaleUP then a hearty welcome to you, you’ve reached the right place along with 50k+ CEOs, CMOS, and marketers.😉 Let’s get into it, shall we? Oh! Before you forget, if someone forwarded this newsletter to you, don't forget to subscribe to our newsletter so you never miss out!

TOGETHER WITH SMART RECOGNITION

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LOOM

🚀 How Loom Transformed to a $975M Powerhouse
Insights from Ognjen Gatalo

Loom, on the verge of bankruptcy, turned its fortune around and achieved an astonishing $975M exit. Here’s the story of their transformation:

1) Redefining Their Identity

The Challenge:

The market was saturated with screen recording tools, and Loom needed a fresh angle to stand out.

The Strategy:

Loom rebranded as “asynchronous video messaging for work,” distinguishing themselves from the competition.

Implementation:

  • Revamped their website content

  • Redesigned branding elements

  • Shifted their communication approach

This redefined identity helped Loom capture a unique space in the market, making them more than just another tool.

2) Demonstrating Clear ROI

The Challenge:

Maintaining user engagement and retention was crucial.

The Strategy:

Loom began sending personalized emails to users, showcasing the time saved on meetings by using their tool.

Implementation:

  • Regular updates on hours saved

  • Highlighting the impact on productivity

By consistently demonstrating tangible benefits, Loom kept users engaged and aware of the value they were gaining.

3) Creating Instant Value

The Challenge:

First-time users needed to see the value immediately.

The Strategy:

Loom focused on delivering a “magic moment” where users could quickly see how fast and efficient the tool was.

Implementation:

  • Streamlining the video creation process

  • Emphasizing speed and ease of use

This instant recognition of efficiency encouraged users to adopt Loom quickly, realizing they could create videos faster than ever before.

4) Establishing Daily Use

The Challenge:

Ensuring users integrate Loom into their daily workflows.

The Strategy:

Loom promoted the tool’s versatility for everyday tasks, turning it into a habitual tool.

Implementation:

  • Showcasing various applications

  • Encouraging daily usage scenarios

Users started to see Loom as an essential tool, much like emails or presentations, leading to regular use.

The Impact: Hook, Convert, Retain

Loom’s strategic approach— Hooking users with unique messaging, converting them by showcasing clear ROI, and retaining them by embedding into daily routines—led them to achieve a remarkable $975M exit. This transformation is a testament to the power of strategic branding and user engagement.

LINKEDIN

🚀 7 LinkedIn Ad Settings and Tactics You Didn’t Know You Needed
Insights from Search Engine Land

What’s Up? LinkedIn Advertising offers marketers innovative opportunities to reach their target audiences more effectively. Here are some new features and updates to enhance your campaigns, drive engagement, and achieve business goals with precision and impact.

The Breakdown:

1. CTV Ads: LinkedIn now allows the use of its first-party data to target audiences on connected TV (CTV). Create brand awareness campaigns with premium content placements, thanks to a partnership with NBCUniversal, and retarget users based on their video engagement.

2. Frequency Control for CTV Campaigns: Avoid bombarding your audience with repeat ads by controlling ad frequency. Set limits at the campaign level to ensure a better user experience.

3. Hybrid CTV Brand Lift Tests: Currently available in the U.S. and Canada, this feature measures brand lift through surveys delivered via web or mobile devices after serving a CTV ad. Results are provided in a PowerPoint deck for in-depth analysis.

4. Boosting Posts from LinkedIn Pages: Similar to boosting on Meta, this feature extends the reach of your organic LinkedIn posts through advertising campaigns. Set objectives, define your audience, and schedule your budget easily.

5. Predictive Audiences: LinkedIn’s AI combines your data source with predictive models to create new custom audiences. This feature has shown to improve Cost Per Lead (CPL) significantly and increase Ideal Customer Profile (ICP) fit.

6. Conversions API: Connect both online and offline data with LinkedIn’s Conversions API (CAPI). This integration allows for improved funnel measurement and more precise campaign adjustments.

7. Average Dwell Time Metric: Measure the time users spend on ads to gauge interest and optimize creative decisions. This new metric provides deeper insights into ad performance beyond click-through rates.

Optimize your LinkedIn ad campaigns now with these advanced tools to enhance targeting, engagement, and measurement. Don’t miss out on these features that can provide valuable insights and lead to significant results.

AMAZON AND TIKTOK

🛒 Amazon Takes on Shein and TikTok with New Discount Storefront
Insights from Chainstorage, Retail Dive 

Amazon’s masterplan

Amazon is set to launch a discount storefront aimed at competing with Shein and Temu, targeting U.S. consumers with low-priced Chinese merchandise. This new initiative was revealed during a private meeting with selected Chinese sellers, where Amazon outlined plans to feature unbranded items in many categories, priced at $20 or less. 

Products will be shipped directly from China with a delivery window of nine to eleven days. This move allows sellers to bypass Amazon’s Fulfillment by Amazon (FBA) network.

TikTok Shop to Challenge Amazon’s Prime Day

TikTok Shop is planning a major sales event, “Deals for You Days,” this July to rival Amazon’s Prime Day, scheduled for July 16-17. Following its U.S. launch last fall, TikTok aims to leverage its platform for product discovery and sales, a strategy supported by Forrester research indicating that social media is a key channel for product discovery among consumers. 

TikTok’s focus will be on discounted cosmetics, a sector that has seen significant online spending growth despite inflation.

These developments mark a significant shift in the competition of online retail, with major players like Amazon and TikTok innovating to capture market share from established discount retailers.

QUICK HITS

🐳 Want to gain expert insights from industry leaders and eCommerce solution leaders like Aftersell, Sendlane, Triple Whale, and Chargeflow? Join us Live at ‘Level Up Your DTC Brand,’ a webinar discussing the latest strategies on how to scale DTC brands on July 17th 12PM EST. Register now for free and stand a chance to win a Meta Quest 3!

🔍 Google completes its June 2024 spam update, a week-long initiative targeting websites violating spam policies to enhance search quality. Launched on June 20 and completed on June 27, the update aims to combat web spam, including auto-generated content and deceptive techniques.

🖼️ Google's E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness) framework plays a crucial role in its Search Quality Evaluator Guidelines, though it isn't a direct ranking signal. While PageRank indicates authoritativeness, it doesn't encompass all E-E-A-T elements.

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