day one - cardell mediathe ecommerce success formula. 1) conversion rate 2) price and profit margin...

DAY ONE

1) Qualified Traffic at an acceptable price

2) Conversion Rate that pays for the Traffic

3) Price and Profit Margin that pays for the traffic

4) Repeat sales to existing customers

THE ECOMMERCE SUCCESS FORMULA

1) Conversion Rate

2) Price and Profit Margin


YOUR 3 LEVERAGE POINTS

THE BREAKEVEN

CONCEPT

→ Selling products that no one wants

→ Price and/or profit margins too low PLUS no repeat sales

UNFIXABLE PROBLEMS

1) Qualified Traffic at an acceptable price

2) Conversion Rate that pays for the Traffic

3) Price and Profit Margin that pays for the Traffic


THE ECOMMERCE SUCCESS FORMULA

What business are you really in?

WEBSITE AND CONVERSION RATES

Headers→ Phone Number

→ Delivery, Guarantees and Returns


Search→ Easy, prominent

Search option


Search→ People who search, BUY

→ A higher proportion of searchers buy, so get more people searching

→ 10% to 15% of visitors can search

→ They can produce up to 40% of your revenue

→ Could be a better Remarketing audience


Shipping→ TEST IT, but the most profitable option is normally

Free Shipping and add it to the price


Exit Intent, Pop Ups and Offers


Incentivised Offers with Time Restraints→ Special offer with a time limit that pops up

when they’ve been on the site for a certain time


Funnel Visualisation Report


Product Pages


Product Pages→ Multiple pictures→ High-quality pictures→ Longer copy→ Conversion Boosters


Checkout Process→ Check mobile – Beware the Mobile Conversion Rate myth→ Get your Abandonment Rate→ Reduce Steps, Simplify and test→ Compare to Amazon and Shopify


Conversion Boosters→ Live chat→ Video


Home Page Info→ Shipping→ Returns→ Search Offers


Reviews


Reviews→ Trustpilot→ Shopify


Bundles & Upsells


1) Biggest ecommerce platform used in the world

2) Hosting, site speed, upgrades, software updates are all done automatically

3) Mobile optimised

4) The dashboard gives you comprehensive information of what is happening on your site for traffic, source, page visits, most visited products, bounce rate, conversions, sales, average order value, site sessions, customer locations and time spent on particular pages.

SHOPIFY

5) Abandon cart auto email sequence that you can edit

6) Easily integrates with fast pay options like Amazon Pay, Google Pay, Apple Pay and PayPal. Shopify has its own payment gateway that is easily set up, so you do not have to apply via a third-party merchant centre (although rates are slightly higher).

7) 24/7 support

SHOPIFY

8) There are 708 apps under marketing alone that you can integrate to do things on your store. For example:✓ Auto email campaigns✓ Related product suggestions✓ One click upsell✓ Abandoned cart email sequence✓ Abandoned cart messages on WhatsApp,

Facebook Messenger and more.

SHOPIFY

8) There are 708 apps under marketing alone that you can integrate to do things on your store. For example:✓ Quantity discount pricing✓ Referral marketing✓ Discount coupon popup✓ Post-purchase survey and product reviews✓ Split Testing

SHOPIFY

→ Reach

→ Targeting

→ Facebook knows the buyers

→ Learning from your buyers – continued optimization

→ Instagram

FACEBOOK AND INSTAGRAM

Your Main Types of Facebook Ecommerce Ads

1) Image Ad



2) Carousel Ad



3) Collection Ad



4) Video Ad


Your Targeting Options1) Use Facebook’s Targeting Options

2) Do Lookalikes of your Customers

3) Remarketing to website visitors and customers


Your Targeting Options4) Sophisticated Lookalikes:

ü Web visitorsü Web visitors by time on siteü Initiate checkoutü All the above – by percentage:

§ 1%§ 3%§ 5%§ 10%


Bidding→ Conversion Goal: Purchase→ Lowest Cost


Bidding→ Conversion Goal: Purchase→ Lowest Cost→ Areas of Leverage

ü Placementü Age ü Genderü Device


Campaign Budget Optimisation (CBO)→ Being rolled out over the next few months→ 3 or 4 ad sets per campaign→ Ad sets of similar size


Artificial Intelligence and The Importance

of BIG DATA

Core Principles1) Your competitors are going bust2) People don’t buy primarily on price3) On Google Shopping and Amazon, people see the price

before they click4) Facebook and Google’s Artificial Intelligence/Machine

learning isn’t just learning who is willing to buy your product – it’s learning who is willing to buy it at the price you sell it

PRICING

Core Principles5) A buyer is a buyer is a buyer. For long-term customer

value, do you want a low-priced buyer or a high-priced buyer?

PRICING

There is only one effective way to implement Ecommerce Premium Pricing:

TESTING

1) Buying Customers

2) Going Global

The Two BIG Opportunities for Sophisticated Ecommerce Marketers

day one - cardell mediathe ecommerce success formula. 1) conversion rate 2) price and profit margin...

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