Most online store tools like Shopify® are developed and designed by developers and designers.
However, what many don’t know is that those teams rarely get input from sales and marketing specialists.
And that leads to those platforms being designed primarily to function and look great, but not to sell.
To get your site to sell more, and you to make more money, there are several levers that you need to be aware of:
One of the most obvious metrics that influence how much money you make is clearly the number of customers you have. No surprise there.
Acquiring a customer costs. You can get more customers by investing more of either Money, Sweat, or Grease. What does that mean? Money is pretty clear. Sweat investment account for the time you have to spend and grease is the relationship capital you invest to get referrals.
Point is, acquiring a new customer is not free, and to calculate (and then improve) your ROI, you need to understand the cost.
The more your customers spend on average, the higher your income is going to be. Increasing the average order value is often one of the lowest hanging fruit to make that happen.
The easiest customer to get is an existing customer, they say. Yet many a business focuses solely on getting new customers.
You should always think about what else you could offer to your existing customers. That will have a direct impact on your customer lifetime value, and with that on your actual ROI.
All these questions together tell you, how much a customer is worth to you over their lifetime. Your job as a business owner is to maximize that number. This process is called Customer Value Optimization or CVO.
When working with clients on Customer Value Optimization, we focus on five areas:
As an entrepreneur we are often inundated with tasks and responsibilities: Marketing, Sales, Content, Inventory Control, Bookkeeping, and so on.
How's anyone supposed to keep a cool head?
Optimal focus is a technique we use that helps you identify the most important things in your business and then get them done.
The 80/20 rule tells us that 20% of your products are responsible for 80% of your revenue. But going even further, there's often one that is driving the majority.
It is however not always the most expensive product. Sometimes it's not even a single product at all.
Best Offer is a tool we use with our clients to help them identify the big winner to focus on.
Boring, right? Not so fast.
In our experience it is exceedingly easy to get this wrong. We see even established stores with several millions in revenue reaching out to the wrong audience - regularly.
Ideal Customer is a simple way to help you avoid making that mistake in your store.
Somehow you need to get those customers to come to you. The Attractive Unit is a powerful way to make that happen.
If used correctly, it gives you the tools you need to not only attract your ideal customer but also keep them engaged long enough to turn them into actual customers.
And not only that, but you'll also be able to shorten the conversion time.
In a typical online store's customer journey there are many of what we call "gaps", places where well-intentioned potential customers get lost.
A Perfect System is not only an obvious and easy path for your ideal customer to buy from you, it is also optimized to have as few of those gaps as possible.
And the best part, it is all automated, so you don't have to worry about it and can get back to doing the things you love.
This is certainly all very theoretical. How do you use this in your eCommerce business? How do you maximize your Average Order Value (AOV), Customer Lifetime Value (CLV), or your Return on Ad Spend (RoAS)?
Let's set up a call and we'll show you - for free - how you can use the tools and techniques you see on this page in your business. We'll take a deep dive into your store and review what's working and what's not.
At the end, you'll walk away with a blueprint that you can use to scale your eCommerce store - with or without us.
No strings attached.
If the calendar below shows availability you're in luck and can book your call. If not, come back in a month or two.
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