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Read expert articles with insights about e-commerce profitability from analyzing thousands of e-commerce businesses' data.
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MarketingThe 6 Best Plugins to Enhance Your WooCommerce StoreThere are hundreds of different plugins available for the WooCommerce e-commerce platform. This makes it attractive for developers and entrepreneurs alike. Aside from that, two of the main reasons many startups go with WooCommerce is that it's free and easy to use. To make WooCommerce even simpler than it already is, certain plugins help to automate a range of the platform’s different features. The thing is, some plugins are definitely worth your time while others should really be left on the shelf. To help you decide, we’ve listed the best paid and free WooCommerce extensions currently available. Why Plugins Are Beneficial for WooCommerce The best WooCommerce plugins are easy to integrate and use. They also improve the platform's functionality and make it easier for users to find and purchase products on your site. There are several benefits to adding a plugin to your WooCommerce store, and these include: Improving your online store.Integrating new features.Collecting customer data automatically.Automating product delivery to customers.Increasing revenue and profit.Giving customers a seamless, high-quality experience.Making it easy to add additional products to your WooCommerce store.Increasing customer satisfaction. Plugins are one of the main advantages of e-commerce. If you want to see a full breakdown of this, visit our post on the advantages and disadvantages of e-commerce. 3 Must-Have Free WooCommerce Plugins for WordPress 1. Affiliates Manager WP Affiliate Manager is the best WooCommerce affiliate plugin, helping users to manage affiliate marketing programs on their websites. It makes managing an affiliate program more streamlined and less time-consuming, enabling you to focus on other aspects of your business or on your customers instead. 2. Abandoned Cart Lite for WooCommerce The Abandoned Cart Lite for WooCommerce plugin is the best WooCommerce abandoned cart plugin. It is a great way to get more of your customers to check out and complete transactions in your store. Using automated messages and targeted promotional offers, this tool helps you identify customers with abandoned carts and entice them to complete their purchases. 3. WooCommerce Shipping The WooCommerce Shipping plugin is the best shipping plugin for a WooCommerce store. With this extension, you’ll be able to access discounted rates of your USPS account, allowing you to print shipping labels straight from WooCommerce’s dashboard. 3 Best Paid WooCommerce Plugins for WordPress 1. WooCommerce Subscriptions Pricing: $199/year WooCommerce Subscriptions is one of the best subscription plugins available. The extension enables you to manage your e-store more effectively by allowing users to create and manage products with recurring subscription-based payments. A great way to boost your subscriptions is by using email marketing. 2. All in One SEO Pricing: Basic Plan - $99/yearPlus Plan - 199/yearPro Plan - 399/yearElite Plan - 599/year All in One SEO Pack is the best WooCommerce search engine optimization (SEO) plugin you can get for your WooCommerce store. Boasting over 2 million+ WordPress installations, it is the most comprehensive SEO tool that will help even the most SEO-green users improve their search rankings without having to learn and understand the intricate and often confusing aspects of Search Engine Optimization. 3. Monster Insights Pricing: Plus Plan - 99/yearPro Plan - 399/yearAgency Plan - 799/year MonsterInsights is one of the top WooCommerce plugins currently available for WordPress-based stores. It offers detailed Google Analytics reporting to help you better understand your e-commerce data. You can easily view detailed product statistics, including best-selling products and those all-important customer cart details, all from inside your WordPress dashboard. This means you can carry out more hands-on analysis to make the best-informed business decisions for your store - boosting sales with ease! Can You Have Too Many Plugins for Your WooCommerce Store? The more plugins you use, the bigger the chance that you will experience issues. When you use too many plugins, you will probably see your site’s performance decrease. Additionally, you could find that you are having issues with conflicting plugins that can bog down your site and affect page loading speed. As a rule of thumb, aim to have no more than 20 plugins installed at one time. That way, you’ll avoid any potential issues that may arise, keeping your site running smooth and at lightning speeds. If you’re still tossing up whether to use WooCommerce or Shopify for your e-commerce website, why not check out our WooCommerce vs. Shopify post where we break down everything you need to know about choosing between the two platforms.
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MarketingTop 16 Ecommerce Agencies to Supercharge Your StoreTypically, we like to preach self-reliance. If you can get it done on your own, we usually recommend you do. But (and this is a ‘big’ but), that’s not always the best route of action. In fact, oftentimes the smartest way to get something done right is to hire a specialist to do it for you. That’s what eCommerce agencies are all about! Scroll down to learn everything there is to know about ecommerce agencies, what they do, and how they can help your online business succeed. What is an eCommerce agency? eCommerce agencies are organizations or teams of experts that help online businesses get things done. That’s a very broad definition, and for good reason. eCommerce agencies come in all shapes and sizes, and specialize in a great variety of services. Whether you’re looking to spruce up your eCommerce advertising strategy, streamline your business management, redesign or re-platform your business, or any other goal you can come up with – there’s an e-commerce agency out there that can help you get it done. Considering just how different eCommerce agencies can be from one another, it’s important to highlight the one characteristic they all have in common: they provide you with a great deal of help without having to hire permanent employees. Now, that’s not to say they’ll necessarily be cheap, but utilizing e-commerce agencies will certainly help keep your overhead costs down. Plus, even though they don’t occupy a permanent position on your payroll, ecommerce agencies are there when you need them. In short, ecommerce agencies are an ideal solution to get the expert help your business needs while simultaneously protecting your profit margins. So, what makes for a good eCommerce agency? We thought you’d never ask! What to look for in an eCommerce agency eCommerce agency services The first question you need to ask yourself when searching for an eCommerce agency is “what is your business’s goal?” This is a fairly obvious question to ask yourself, but its importance cannot be overstated. In order to find the right e-commerce agency to fulfill your needs, you must first define what it is that your business needs! Think about it this way: if you have a compass, and you know the direction you need to travel, then you’re in very good shape. On the other hand, if you have a compass, but you don’t have a specified destination, then the compass won’t really do you much good. The same is true for eCommerce agencies. You must first decide what it is you want to achieve (your destination), then find the eCommerce agency (a compass) that is best able to provide the services, assistance, and guidance you need to reach your goal. TLDR: Decide on a goal, then find ecommerce agencies that offer relevant services. Price plans You’ve chosen a specific goal you would like your business to achieve and you’ve located a number of eCommerce agencies that offer relevant services – now compare their prices! Just like your business has its own set of pricing strategies, so do B2B eCommerce agencies. Every online business owner has a budget they need to stick to, and there’s no shame in that. It’s completely necessary to establish limits on your business spending and to work within those boundaries, otherwise you can end up draining your cash faster than it flows into your business. Review your business’s expenses, determine what your budget is for the particular project you’re aiming to complete with the help of an eCommerce development agency, and then research the different price plans available through each of the eCommerce agencies you’ve included in your list. TLDR: Set a budget, then find the eCommerce agency and price plan that fits best. Top clients One of the best ways that you can determine the reputability of an eCommerce digital agency is to check out who their top clients are (or have been in the past). This is different from looking through user reviews – you’re basically looking to be impressed by the mere fact that a name brand company has used the particular eCommerce agency you’re assessing. If there are big-name corporations that you recognize at a glance who use(d) the services of any e-commerce website design agency, e-commerce advertising agency, or any other type of agency – you can safely presume that they did their due diligence beforehand. TLDR: You don’t have to feel like you’re picking an e-commerce agency out of a hat. Take a look over their top clients – if you recognize them, that’s a good sign of the quality of work the agency provides. Physical headquarters location Some people are less concerned about this specific detail, but it’s worth raising as a point on this list for several reasons. First of all, when doing business with any sort of consultancy or service provider, there is typically a sizable sum of money involved in the exchange. When dealing with larger payments, it’s always better to have the law on your side in the event that any issues arise. If and when you do business with eCommerce agencies based abroad, you add a level of risk simply by engaging in transactions that are outside of the jurisdiction of your own country’s laws. Secondly, and perhaps more of an intuitive reason to consider the location of an eCommerce agency, is that there’s always the possibility of a language barrier. This isn’t always the case, and shouldn’t always be a reason to avoid eCommerce agencies based abroad – but it is something to take into account. While both of the reasons above should be remembered, we advise you to use your best judgment. There are always risks that are calculated into business decisions. Just make sure to think critically. TLDR: Doing business with eCommerce agencies abroad should be carefully considered, since there are risks involved. User reviews There’s an old saying that goes something like “a smart person learns from their mistakes, but a wise person learns from the mistakes of others”. This applies to your search for the right e-commerce agency as well! Take a look at what past customers have had to say about the agency you’re interested in using. There’s no reason you need to leave it all up to luck. And while you’re looking over those reviews, do so with a grain of salt. If an agency representative responded to the review, read what they wrote to see how they have worked to improve. If there’s a review that is particularly bad and it contradicts what most reviewers have said, consider whether or not they might be exaggerating. Take your eCommerce agencies research a step further by visiting the websites belonging to past users – that way you can make your own assessment of the work that was done. If there are case studies listed on the eCommerce agency’s website, be sure to give them a thorough read. Leave no stone unturned in your search for the right eCommerce digital marketing agency! TLDR: Consider what other customers have had to say about the services provided by the eCommerce agency you’re checking out. Dig deeper and see what those customers’ websites look like! 16 Top eCommerce Agencies UPQODEStrydeUAWCLimesharpHumaanLightflowsDigital SilkBlue Fountain MediaFirst Page DigitalEvestarIgnite VisibilityNama StudioJumpstart CommerceCodeZAGOElectricEye 1. UPQODE UPQODE was founded in 2015 and helps businesses across the US and Europe to reach online success. They’re an award winning eCommerce agency based in Nashville largely focused on SEO and web design, with a specialization in Shopify stores. Cost: Starting at $10,000eCommerce agency services: Web design, Web development, SEO, Digital marketing, Shopify, etc.Top Clients: Samsung, UPS, TEDxLocation: Nashville, Tennessee 2. Stryde Started in 2013, Stryde is an e-commerce digital marketing agency that also includes Shopify on its list of strengths. Beyond that, Stryde’s experienced team is proficient at reducing CAC and increasing conversion rates for their clients. Cost: Starting at $1,000eCommerce agency services: Social media, Influencers, SEO, PPC, and Email marketing, etc.Top Clients: Inbox Fitness, RusticoLocation: Draper, Utah 3. UAWC Agency Founded in 2013, UAWC is a highly ambitious award-winning eCommerce agency with clients to match. Primarily working with small to medium-scale eCommerce businesses, they offer a full range of services, from PPC management to conversion rate optimization, link building, and SEO. Their unique, SOP-based approach guarantees that every discovery they make is documented, researched, and used in future strategies. Cost: Starting at 950$.eCommerce agency services: PPC, SEO, conversion rate optimization, email marketing, link building, Google Analytics 4 and Google Data Studio setup.Top Clients: Mindvalley, Wize Mentoring, Ambr Eyewear, VOX-SprachschuleLocation: Norway 4. Limesharp Founded in 2006, Limesharp is one of the more veteran eCommerce agencies on this list. Plus they’re the only Magento certified ecommerce agency mentioned here! They’ve built their reputation on an outstanding ability to put their clients ahead of the competition. Cost: Starting at $10,000eCommerce agency services: Web design, Web development, Web hosting, Magento training, SEO, etc.Top Clients: Grenson, Hen and HammockLocation: London, UK 5. Humaan Since 2010, Humaan has provided top-notch solutions, guidance, and services to help ecommerce businesses reach their full potential. In their own words, they “deliver intelligent products, engaging experiences and exceptional outcomes for incredible clients all over the world.” Cost: n/aeCommerce agency services: Digital strategy development, UX optimization, Web design, Web development, App developmentTop Clients: National Breast Cancer Foundation, UniosLocation: Perth, Western Australia 6. Lightflows Lightflows stands out as an eCommerce advertising agency that has over 20 years of experience specializing in visual marketing (photography and videography). Online business owners have turned to Lightflows for their expert help with designing their websites, optimizing conversion rates, and building broader strategies for success. Plus, they’re the only Drupal ecommerce agency we mention on our list. Cost: Starting at $10,000eCommerce agency services: SEO, Email marketing, PPC, Shopify, etcTop Clients: Flowable, The SuperVetLocation: Guildford, UK 7. Digital Silk Despite having only established themselves in 2017, Digital Silk has quickly proven itself as one of the world’s leading eCommerce development agencies. They’ve worked with Fortune 500 companies including IBM, New York University, and Hewlett-Packard. Cost: Starting at $10,000eCommerce agency services: Digital branding, Web design, App development, SEO, Social media marketing, etc.Top Clients: Sony, NFL, XeroxLocation: New York City, New York 8. Blue Fountain Media Of all the eCommerce agencies included in this list, Blue Fountain Media has been around the longest. Since 2003 this enduring figurehead in the web design and development industry has consistently proven itself as one of the best. Their track record includes huge brand names such as Sony, AARP, and Chelsea Piers New York. Cost: Starting at $50,000eCommerce agency services: Broadscale strategy building, Digital marketing, Brand development, UX design, and much moreTop Clients: FedEx, Microsoft, PeterbiltLocation: New York City, New York 9. First Page Digital First Page Digital is one of the best eCommerce agencies for online businesses looking to spread their influence internationally. For the past 10+ years they’ve provided an incredibly broad range of services and with a team of more than 70 dedicated industry professionals focused on breaking barriers and unlocking potential. Cost: Starting at $5,000eCommerce agency services: Google Ads, SEO, Social media ads & management, Content, etc.Top Clients: Under Armour, JCDecaux, WhirlpoolLocation: Singapore 10. Evestar Evestar was born out of the success that the founders had in promoting their own business online. With such impressive results, they decided to turn their sights on helping other brands achieve similar success. Since 2018, Evestar has helped countless brands “bring [their] story to life” with a focus on creative social advertising. Cost: n/aeCommerce agency services: Google Ads, Facebook Ads, YouTube Ads, Pinterest Ads, Email marketing, etc.Top Clients: Steve Madden, AnatomieLocation: Miami, Florida 11. Ignite Visibility Ignite Visibility was launched in 2013 aimed at providing online business owners with an e-commerce agency that provides “a premier full-service digital marketing” solution. They offer the full gamut of design, development, and marketing services, while also being the one and only Amazon eCommerce agency listed here. They’ve been mentioned in big media outlets including Forbes, Inc., and Entrepreneur. Cost: Starting at $1,000eCommerce agency services: SEO, PPC, Social media marketing, Email marketing, Web design & development, etc.Top Clients: Tony Robbins, Sharp, 5-Hour EnergyLocation: San Diego, California 12. Nama Studio Nama Studio is a Shopify e-Commerce agency dedicated to providing their diverse array of clients the expertise they need to realize their Shopify stores’ true potential. Whether it’s strategic consulting, store development or optimization, or hands-on management training – Nama Studio is there to help Shopify business owners navigate the online retail market tactfully. Cost: N/AeCommerce agency services: Strategic consultation, Shopify development, eCommerce development, Shopify training, and moreLocation: Italy 13. Jumpstart Commerce Jumpstart Commerce is a Shopify e-Commerce agency with 15 years of experience in the e-commerce marketplace. They know the ins-and-outs of what it takes to build a strong, focused, and profitable eCommerce store (with a specific on Shopify). If you’re running an online business in Southeast Asia, then Jumpstart should be the top eCommerce agency on your list! Cost: N/AeCommerce agency services: Shopify, Web design & development, Replatforming, eCommerce strategy development, etc.Top clients: Unilever, Tupperware, DiorLocation: Singapore 14. Code Code is another top agency helping Shopify businesses with more than 10 years of proven expertise in eCommerce. They’re dynamic, love a good challenge, and aim to not just deliver the highest quality web design but also be a vector of knowledge for their clients. Whether you’re looking to build a new Shopify store, update your existing shop, or customize certain aspects of it – Code can help. Cost: N/AeCommerce agency services: Shopify store design & development, Shopify strategy development, Tailored Shopify solutions, Custom app development, and moreTop clients: O’neill, Mr. Marvis, Josephine & CoLocation: Netherlands 15. ZAGO ZAGO is a full-service ecommerce agency that specializes in Shopify Plus; they provide a “complete range of services to help you sell more on Shopify”. If you’re already running your online store on another platform, worry not! Zago’s team of experts has plenty of experience helping business replatform, and they even stick around to give you continued support after the transition is complete. Cost: N/AeCommerce agency services: Logo/branding, UX/UI design, Prototyping, Shopify store design & development, and moreTop clients: Juni, MSTR Watches, VisualArtLocation: Sweden 16. ElectricEye Electric Eye is a Shopify-specific development and marketing agency that works with clients across the U.S. to build and grow highly profitable ecommerce stores with beautiful stores and highly efficient marketing. Cost: Starting at $10,000 for development and $4,000 for marketingeCommerce agency services: Web design, web development, Retention Marketing, Paid Media and Advertising, Digital MarketingTop clients: Only NY, Pebby Forevee, Darby Creek Trading, Derm Spa Store eCommerce agency FAQs 1. How much does it cost to hire an eCommerce agency? The cost you can expect to pay for an eCommerce agency’s services will vary depending on several factors, including: your budget, the services you’re seeking, the size and age of your online business, the duration of time you intend on employing the agency, and so on. From the list of eCommerce digital marketing agencies we have above, the average price tag is roughly $10,800. 2. Does everyone need to hire an eCommerce agency? No, it’s not entirely necessary for an eCommerce business to hire a professional agency to help. But for many online businesses, paying for an eCommerce agency to do the heavy lifting is a cost effective way to overcome obstacles, open up opportunities, and reach new levels of success. On the other hand, it’s often worth considering making use of eCommerce agencies as a way of avoiding obstacles in the first place. In other words, having a team of experts work with you from the ground up can help you steer clear of money-draining mistakes before they ever appear. 3. Which platforms do eCommerce agencies work with? Individual eCommerce agencies may specialize in one or more eCommerce platforms, including Shopify, WooCommerce, Amazon, and so on. Though there are also a number of agencies that do not limit their services to any specific platform but, rather, offer their assistance regardless of the platform in question. 4. How to measure the success of an eCommerce agency? Keeping a consistent and accurate track record of your online business’s KPIs is crucial to making sure that an eCommerce agency is truly helping you succeed. For Shopify sellers specifically, the BeProfit Profit Tracker app is the ideal solution to automatically record and analyze your business’s expenses and profits over time. Whether you use an automated solution or if you’re doing it all manually, you’ll want to have a clear understanding of performance metrics like: gross and net profit margins, COGS, average order value (AOV), customer lifetime value (CLV), return on ad spend (ROAS), and so on. In case it wasn’t already clear, BeProfit measures all of those KPIs and many more for you automatically. Supercharge your store today eCommerce agencies are here to help your business reach new heights. Yes, it’s true that you can get a lot done on your own without agencies there to get your back. But that’s the whole point – it’s easier to get things done (and do a good job) when you have professionals there to support you. Better yet, when those experts do it for you entirely. Reaching out for help is nothing to feel bad about. If there’s a big goal you want to achieve, consider accepting the help of an eCommerce agency to bring in the skill that you need to get it done. You won’t regret it!
improve your customer retention strategy with email marketing
MarketingHow to Improve Your Customer Retention Strategy With Email MarketingYou’ve probably heard that acquiring new customers costs more than keeping them. Most studies show acquisition marketing is six to seven times more expensive. Fishing for new blood certainly is part of the ecommerce merchant’s toolbox, but devoting energy to customer retention marketing is much more advantageous. Email marketing is the best vehicle for doing it. We’re looking at why that is, along with five tips to get the most out of it. But first, let’s dive deeper into why ecommerce merchants should invest more in retention marketing. What Is Retention Marketing and Why Is It So Important? Before you even start to think about ROAS and customer retention strategies in general, remember that the goal of retention marketing is to turn customers into repeat buyers. Such marketing campaigns and initiatives aim to drive higher engagement so that the brand is top of mind. Retention marketing is worthy of your resources for two particular reasons: You’re not wasting money on the hunt. You’ve already got the first-party data of current customers who — we assume — are happy with your brand. Repeat customers are more profitable than first-timers. One study shows merchants reap an average of $39 in profits for every repeat customer purchase. They lose $29 for every new customer, primarily because of the cost of customer acquisition (CAC) and higher product return rates. From a broader perspective, the more customers who repeatedly spend on your brand, the higher the net profit throughout your mutual relationship. This is called customer lifetime value (LTV). And the higher the LTV, the better you can justify the CAC. The optimum is a 3:1 ratio, where your LTV is triple that of the initial CAC. » Discover 4 benefits of customer retention analysis for your Shopify store 5 Tips for Using Email Marketing to Retain Customers Full disclosure: we are an email marketing software company with considerable bias. That said, email marketing is the ultimate customer retention strategy besides excellent customer service. Leading retailers agree. They cited email as the top investment (87%) when polled on their 2022 resource allocation plans for retention marketing strategies, beating out loyalty programs and SMS. They’ve got good reason to trust in email marketing. It has an impressive return on investment: for every $1 spent on email marketing, the average return is $42. Of course, keeping customers around requires maintenance. Some of our tips apply to all types of email marketing, no matter the target. Others specifically cater to nurturing customer relationships. 1. Provide Variety How often do you receive an email from a brand, and it’s a case of deja vu? Every promotion sounds the same. If you haven’t unsubscribed, then you’ve stopped opening them. Don’t be a brand that emulates this email marketing behavior. Provide a mix of valuable content that engages your customers and makes people excited to open your newsletters. There are times for sales promotions, announcing new releases, and addressing pain points. It’s nice to toss in a slice of your brand’s story every so often, too. And for meatier value, think educational and inspirational. Style guides, for instance, are perfect for apparel-related merchants but also handy in providing advice around arranging/displaying products. The key is curating content so the customer doesn’t have to think. Imagine you’re on the quest to spice up your space with a rug. But online searches make your head spin because interior design is not your strong suit. The example below from The Citizenry could be just the intervention needed. The email highlights pieces from its rug collection by showing how they could work in different rooms. It’s an excellent tactic for leading people toward imagining the possibilities for their own homes, versus a product shot without the surrounding context. It brings things to life. We also appreciate the section that takes viewers to a rug size guide, providing additional information and styling tips. 2. Make a Footer That Functions You may wonder why the last section of an email is pertinent to retaining customers. Seems like real estate of little significance, right? Wrong. Not everyone will scroll to the bottom. But others will, which makes it ideal for reiterating the vital stuff you want people to affiliate with your brand. A “footer that functions” serves as reinforcement for those who have already invested in you. The more they see the same block of messaging — we’re talking simple icons accompanied by short, descriptive words — the more you build trust and grow brand affinity. (It also can tip the scale for securing a first-time purchase.) Allbirds has a polished retention marketing strategy worth dissecting. All icons link to a landing page with more information. Here’s what we like about the footer: It calls out its “tread lighter” brand value loud and proud; any brand that stands for something — sustainability, a cruelty-free approach — should do the sameIt overrides common friction points of shipping and returns; bonus points for offering a free 30-day trial Infuse your footer with elements that communicate your brand’s value. Alleviate pain points, lean into your audience or niche, and drive home your unique selling proposition. Stick to three or four icons in total, as anything more is overwhelming. Contemplate adjustments for Black Friday and holiday marketing, honing in on common friction points during the Q4 season. For example, we see ecommerce merchants broadcasting a buy now, pay later option. Take the opportunity to feature complementary services such as customization or gift wrapping, or highlight a return policy to help reduce return rates. 3. Implement Automation One of the most powerful aspects of email marketing is the ability to nurture subscribers and make them forget about the competition. An easy way to do it is with email automations. An email automation is a message (or series) triggered when a subscriber takes a particular action. Once you activate one, it quietly works in the background. Welcome and abandoned checkout email automations are the most widely known and used, but there’s an entire group of automations specifically targeted at retaining customers. Consider developing any or all of the following: New customer automation. Acknowledge your subscriber’s first purchase. Invite them to join your loyalty program. Provide a customer service point of contact to answer questions. You want to keep the momentum going. Post-purchase automation. We call this a “get ready” email. Unlike a transactional order confirmation message, post-purchase automations build excitement as the customer waits for the order to arrive. It’s ideal for sharing information, such as care tips or installation instructions. Repeat customer automation. It’s always a good idea to show gratitude to customers who buy from you more than once. That spells loyalty, so they deserve recognition. Tell them why their confidence in your brand matters. Lapsed purchaser automation. Connect with customers who haven’t purchased from your shop in a while. It could be 90 days or longer, depending on what you sell. This automation is especially impactful when you offer consumable products — like pet food or cosmetics. Use it as a reminder that it’s time to replenish. A lapsed purchaser email from Grubhub Pick which automations are suitable for your brand. Consider a multi-part series if it makes sense. Sprinkle in small promotions, such as a discount or free shipping, to entice an order. You might even use them to ask for a review. 4. Use Segmentation Ecommerce merchants that personalize their marketing have a huge advantage in retaining customers. A survey cites that 71% of consumers expect brands to personalize their marketing. Not only that, but more are frustrated when it doesn’t happen. An even greater percentage will recommend brands that personalize marketing to their family and friends. Email segmentation is a terrific vehicle for sending relevant messages. It’s the practice of tailoring emails for a subset of subscribers. There are many options when creating customer segments, from purchase behavior to demographics. Typical means for grouping include: High-value customers who have passed a certain threshold of spendingCustomers who join your loyalty programWholesale customers Placing customers by residential locationMaking segments per product category purchased The example from Carved is a classic example of how to employ segmentation in your email marketing. The brand grants early access to VIPs for Black Friday sales. A custom code at the bottom reassures the customer that this invite isn’t for everyone. Carved’s email scrapes the surface of segmented email marketing. Consider giving perks to loyalty program members. Reach out to customers when you debut a complementary product or service to one they purchased. You could even identify those who bought during the holiday season and haven’t returned since, and follow up with a message six months later. » Learn about the cost of customer acquisition in e-commerce and how to find yours 5. Survey Your Customers People like their voices to be heard. They want to know that their opinion matters, especially as a consumer. Surveying them equals empowerment. You could send a survey to your entire list, including subscribers who have never bought a thing. But customers have some skin in the game, as they use your products and have better insight into your brand than onlookers. The email message itself can be short, like Food52 does. Question them about the new products they’d like to see or services that interest them. The goal: understand how you might better meet needs before a competitor swoops in. The results are data points for improving your business. Answers may open your eyes to new solutions worth pursuing or turn your attention to flaws that need fixing. And if you make changes based on their input, let customers know how valuable they are in shaping your business. Use Email Marketing to Show Your Value Resist viewing customer retention marketing as just another promotional tactic. Seeing it through such a narrow lens won’t reap the desired benefits. Instead, know that good retention marketing strategies give customers value well beyond their purchase. When you’re motivated to strengthen relationships with your customers — versus spew sales pitches — you’re empowering your business to flourish. So, we challenge all ecommerce merchants to examine their email marketing programs. How are you doing with our five tips? How well are you providing variety, harnessing your footer, using email automations, sending segmented emails, and surveying your customers? Find a job in email marketing on Jooble.
Emphasizing savings can lead to customers buying more.
Marketing5 Discount Techniques to Improve Your Shopify Product BundlesAccording to a survey by Criteo, 93% of shoppers in the United States say that "discounts and offers" are a crucial factor when deciding to make a purchase. Shopify stores can utilize bundling to help encourage sales and be more cost-effective by, for example, targeting existing customers since it's cheaper than customer acquisition. Stores can optimize bundling strategies through discount options to further maximize sales and profits. » Try these 4 easy Excel discount formulas for your e-commerce store How Does Shopify Bundling Work? Product discount bundling is a marketing strategy in which retailers combine multiple products to offer a lower price than if each item were purchased individually. You can easily enable product bundling for your Shopify store with the following process: 1. From your Shopify admin dashboard, go to your products page and select "create new product." This will be the parent product for your bundle. 2. Create a variant for each of the products you wish to include in the bundle. Be sure to set the inventory for each variant to zero so that customers cannot buy the products separately. 3. Make a new collection and call it "Bundles." 4. Include the parent item (from step 1) in this collection. 5. Turn on collection discounts. This is done in the Shopify admin dashboard > Sales channels > Discounts. 6. Create a new discount with the type "Collection." 7. Finally, pick the "Bundles" collection you created. Specify the amount or percentage of the discount and save your adjustments. Keep Track of Product Performance With Ease Get an easy-to-access overview of your product profitability and pricing performance from one dashboard. Gain insight into your real profit per order.Easily identify your most profitable products.Access data from anywhere using mobile or desktop devices. BeProfit allows you to integrate multiple Shopify stores for an aggregated view of your business performance. So, you can make informed discount bundling decisions to help improve your revenue and profits. » Find out ways to boost product profitability for your e-commerce store Techniques to Optimize Your Shopify Discount Bundles To optimize discount packages, you can use various tools, like Shopify apps, and customize your approaches in the following ways. Create Urgency Discounts can increase urgency by creating a sense of scarcity or limited availability. For example, offers that last only for a holiday weekend can encourage customers to take action and purchase before the discount expires. This sense of urgency can: Significantly improve store conversionsBoost customer satisfaction because of discounts Increase store revenue because customers may be more likely to buy higher-priced items to take advantage of discounts Emphasize Savings Jonah Berger, a marketing professor, suggests the Rule of 100, which states that dollar savings tend to be more effective on higher-priced items, and percentage savings are more effective on lower-priced items. Discount shipping rates can also help highlight savings. The Wall Street Journal reports that customers are four to five times more likely to buy when free shipping is available. Making the overall cost of your package more attractive can help because: Customers are more likely to purchaseRevenue improvesProfit margins increase Keep Monitoring ROI Once your discount bundles are in place, it's key to evaluate their performance and your ROI. This can offer useful insight that can be used to improve sales, such as: Identifying how cost-effective the discounts areIf the current discount strategy results in good conversion ratesEnsure the discounts aren't leading to massive revenue lossesMake informed changes to discounts and bundling techniques Target and Personalize Bundles Creating personalized discount packages can be more effective for your store as it allows you to meet the needs and preferences of individual customers. This can be done using data, such as: Browsing habitsPurchase history Wishlist items Implementing personalization into discount bundles can increase customer satisfaction and retention because customers may feel understood and valued. Ultimately, this can encourage higher AOVs, which can boost revenue. Bundle Related Items If unrelated items are bundled together, discounts may not be effective. For example, combining expensive items with inexpensive items may make customers less inclined to buy if they are only interested in one item. By bundling related items that complement each other, businesses can Increase the perceived value of the bundleEncourage customers to purchase more itemsImprove revenue even when the bundles are discounted since AOVs may be higher Bundling Types Pure bundling - Two or more products are sold together as a single unit at a lower price than if purchased separately. This can encourage customers to purchase more than one item, thereby increasing sales and revenue.Frequently bought together - Items that are commonly purchased together are bundled at a discount. Using data to identify which items are commonly purchased together, you can imply suitable bundles, which can up AOVs.Buy X, get Y free - Customers receive a free item when they purchase a certain quantity of a product. This can incentivize customers to purchase more, increasing sales and revenue.Cross-selling and upselling - Customers are encouraged to purchase related or upgraded items in addition to the item they're already purchasing. This can boost AOV, add personalization, and increase revenue. » Need help? Check out these proven tips you should try for boosting Shopify sales Boost Your Shopify Store's Bundles Strategically Practical discount bundling can have a significant impact on a store's bottom line by increasing the AOV, improving customer retention, and driving sales. Through implied urgency and personalization, among other tactics, you can optimize your discount bundling strategies. Then, using platforms like BeProfit, you can monitor the performance of your strategies and make informed adjustments to ensure you're staying profitable.
5 Strategies to Reduce Your eCommerce Return Rates
Marketing5 Strategies to Reduce Your eCommerce Return RatesA strategic approach to reducing returns is crucial to eCommerce success. The average return rate for eCommerce has doubled in the last few years, bringing it up to 20.8%, and many eCommerce merchants are left scratching their heads about how to cope with this new situation. Consider how you can simplify the return process and learn from it to prevent returns before they happen. What is a Return Rate? Return rate refers to the frequency that your customers return products at your eCommerce store. Return rates are represented as a percentage of the total number of products sold within a specified timeframe. To calculate your product return rate, divide the number of returned items by the total number of items sold and multiply by 100. For example, if you sell 10,000 products in a year, and 2,000 of them were returned, your eCommerce return rate would be 20%. Why Reducing Your Return Rate is Important A high return rate can have a big impact on your profit margins, and can often signal the end of customer relationships. While it’s inevitable that every company (no matter the size) will have to deal with a certain amount of returns, there’s a lot you can do to optimize your customer experience to reduce the chance of customers wanting to send products back. 5 Ways to Reduce Your Returns If your eCommerce business doesn’t already have an effective strategy in place for handling returns, now’s the time to take action. Here are a few hand-picked strategies you can use to reduce your return rates. Optimize Your Product Descriptions The best way to make sure that your products meet your customers’ expectations is to provide them with as much detail as possible. Customers can’t touch or feel online products, so your product descriptions matter. Make sure your customers know exactly what they’re ordering.Make sure each product has a clear headline, a paragraph with details of what makes the product unique, a bulleted list of product specifications and features, and user-generated content like reviews and images.Include high-quality product photos from different angles, and consider incorporating product videos for an even more detailed look at the products. Provide detailed sizing charts with all the measurements your customers need to know or offer a sizing guide based on the sizes they wear in other brands.The more information your customers have before they make a purchase, the less likely they are to return their order.Create a Clearly-Defined Return Policy Your return policy is a key tool for reducing returns by clearly setting expectations.Over 60% of customers check return policies before buying. A well-crafted return policy can act as a prevention barrier for product returns as well as boost sales and reduce cart abandonment.Give your customers the confidence to buy from you, knowing exactly what the terms are for returning an item, and how they would go about doing so.Ensure your returns policy is clearly displayed on your website and is written in an easy-to-read format using bolding, subheadings, and bullet points.Automate Your Returns Process Customers want to support businesses that make their lives easier. When your customers have confidence in your returns process, they won’t hesitate to purchase from you again. 92% of customers say they will buy again if the returns process is easy.Use a post-purchase returns solution like ReturnGO to automate your returns process and simplify things both for your customers and for your team.Provide customers with an online return portal where they can return items without having to deal with back-and-forth emails or wait for someone to get back to them. Set up your return portal to automatically follow your return policy, and give your customers a convenient self-service returns experience.The ideal return process is hassle-free for your customers and cost-effective for your business. Having a good system in place for handling eCommerce returns differentiates your brand, creates a competitive advantage, makes you more profitable, and reduces your return rate. Analyze Your Customers’ Return Patterns Just like you can track which products sell most, you can also track which products are most frequently returned and why. Part of using a returns management system includes having access to insights into your customers’ return patterns, which can help you take data-driven actions to reduce your return rate. Track common return reasons and how your customers like to handle returns. Products that are frequently returned may be defective, packaged poorly, or have an unclear product description. Identifying problematic products and correcting the issues can help you avoid potential future returns for those products.Encourage Exchanges Over Refunds Your return and exchange policy should make the returns process seamless and hassle-free, and give customers a clear incentive to choose an exchange over a refund. A hassle-free exchange process helps keep your customers happy by giving them what they need. Prioritizing exchanges over other types of returns can save your eCommerce store a lot of time and money.More than half of Shopify returns are due to customers ordering the wrong size or style. Giving customers the option to exchange their order for a more suitable product leaves them with an excellent customer experience and increases the chance they’ll buy from your store again.Incentivize customers to request an exchange instead of a refund by offering coupons, discounts, or free shipping specifically on exchanges.Exchanges enhance the customer return experience, increasing customer loyalty and retaining revenue that would be lost with a refund. Prioritizing Reducing the Rate of Your Returns Making sure customers have all the information they need will help provide your customers with a clearer picture of your products and ensure that a higher percentage of them are satisfied with their purchases. Streamlining the return process will help to leave your customers satisfied and provide you with information on how to serve them most effectively. Reducing the number of returns is in everyone’s best interest. Having fewer returns saves you money and creates a better customer experience. Start small - pick one strategy and take the first step towards reducing your return rates.
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MarketingTop 7 Amazon Marketing Metrics You Should 100% Be TrackingMarketing metrics are used to measure the success of a campaign and, in conjunction with retail metrics, can help clarify which methods are fostering business growth and which may be impeding it. Which Amazon Marketing Metrics Are Most Important? You can track a variety of metrics, but you will primarily focus on metrics pertinent to the type of campaign you're running and its objectives. However, there are core metrics you should always measure, and they are: ImpressionsClick-Through RateCost-per-ClickConversion RateReturn on Ad SpendAdvertising Cost of SalesTotal Advertising Cost of Sales Understanding these Amazon marketing metrics can benefit you and your business. Now that you are aware of the marketing metrics you should track, let's examine each of them individually. » Are you using other advertising platforms? See whether Amazon ads vs Google ads are better Data Analysis Made Easy Data analysis can be complicated, particularly when analyzing your profits and expenses. The BeProfit analysis dashboard is designed to simplify your life. » Curious about BeProfit's offering? Explore BeProfit's features The BeProfit analysis dashboard simplifies and streamlines your ability to monitor your profit by analyzing and automating the process. How BeProfit Analysis Dashboard simplifies tracking profits: Performs analyses so you always know your precise profit.It is compatible with your desktop and mobile device.Keep track of multiple sources of income.Integrates your storefronts into a single management system. 1. Impressions Impressions refer to the number of times your content/ad is displayed to a viewer, but this does not necessarily indicate that the content is engaged with or clicked on. Impressions are not unique and are counted whenever the content is displayed. To calculate possible impressions for a Cost Per Mille (CPM) ad campaign: Impressions = Budget / CPM × 1,000 Impressions can help you understand how many potential customers see your product. By comparing impressions to other metrics like reach and CTR, you can gauge the success of your ad. 2. Click-Through Rate Click-through rate (CTR) is the ratio of clicks to impressions for an ad. CTR reveals only those viewers who have clicked and followed an ad, making it a more targeted metric than impressions. To calculate CTR: CTR = Number of clicks / Number of impressions X 100 A good average CTR is 2%; however, this number is highly dependent on the campaign's circumstances. A higher CTR indicates a successful campaign that is attracting customers, whereas a lower CTR indicates that something about the campaign is either discouraging customers or is not suitable for the intended audience. 3. Cost-per-Click Cost-per-click (CPC) refers to how much each click on an ad costs you. CPC is frequently used in well-targeted marketing campaigns, as the advertiser pays each time a viewer clicks on their ad. To calculate CPC: CPC = Total cost of clicks / Total number of clicks CPC assists with marketing budget management by revealing the cost of your brand's advertising efforts. If you have a very high CPC and a low conversion rate, your business may quickly be operating at a loss. 4. Conversion Rate Conversion rate measures the percentage of passive, prospective customers who become active, engaged customers. Conversion occurs when a customer completes the promoted call to action (e.g., placing an order, subscribing, etc.). To calculate conversion rate: Conversion Rate = Total conversions / Total number of sessions X 100 Your campaign is successful if it resonates with your target audience and persuades them to take the desired action, as indicated by a high conversion rate. 5. Return on Ad Spend Return on ad spend (ROAS) measures how much revenue an ad campaign generates relative to the cost of the campaign. To calculate ROAS: ROAS = Total ad revenue / Total ad costs ROAS provides information regarding profitability. Use it to determine which campaigns generate the most revenue and which are less successful. » Don't understand how to do ROAS calculations? See how Amazon ROAS is simplified 6. Advertising Cost of Sales Advertising Cost of Sales (ACos) is an Amazon-specific metric that measures the performance and success of pay-per-click (PPC) advertising campaigns related to Amazon Sponsored Products. ACos employs the same metrics as ROAS, but it is represented differently. To calculate ACos: ACos = Total ad costs / Total ad revenue X 100 This is the inverse of ROAS and represents an increase in percentage. A good Amazon ACoS is contingent on a number of factors, such as the type of business and industry. Nonetheless, avoid analyzing ACos on its own. Think about your profit margins and break-even points as well. » Not sure where to get Amazon sales data? Follow these steps 7. Total Advertising Cost of Sales Total Advertising Cost of Sales (TACoS) is similar to ROAS and ACoS, in that it also demonstrates the success of a marketing campaign, but it shows how a campaign affects your entire business (including organic traffic) and not just direct ad revenue. To calculate TACoS: TACoS = Total ad costs / Total revenue X 100 This metric can help you determine how your campaigns affect your company's overall revenue growth and whether or not you remain profitable after advertising. » Struggling to track your Amazon sales? Learn how Google Analytics can help Track Marketing Metrics With Amazon Advertising & Reports Amazon makes it easy to track these metrics in a single location through its advertising reports including Amazon DSP, Sponsored brands, video ads, and more. The ability to interpret Amazon advertising reports can provide numerous benefits for your business, including: A better understanding of audiences: Ad metrics can help you understand your customers' preferences and structure your future business accordingly.Ability to prove advertising impact: Assess your campaigns' effectiveness. Then, invest in successful campaigns and stop unsuccessful ones.Optimization of marketing strategies: Campaigns can be refined for the future to deliver even better results. » Find out what ad trackers are and how you can use them in e-commerce Track and Analyze Your Data With BeProfit Marketing activities, performance, customers, and revenue are all interconnected. Understanding these relationships will assist you in making informed decisions regarding your Amazon platform. Rather than a generic ad spend tracker, consider investing in an all-in-one analytics dashboard to monitor your company's expenses and profits if tracking and analyzing this data seems complicated. However, keep in mind that not all profit calculators are accurate; the best profit calculators for Amazon take all relevant factors into consideration. The BeProfit app offers e-commerce sellers insights that enable them to understand and scale their businesses. The app allows you to connect all your stores, allowing you to obtain a comprehensive view of your business operations.
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MarketingEmail Marketing Best Practices—How to Improve Your ROIEmail marketing takes some skill – if you aren’t doing it right, you actually may be doing more harm than good. Of course, it doesn’t take a computer genius to figure out what it takes to be a successful email marketer. What’s the secret to B2C marketing? Join us as we take a deep dive into the world of email marketing best practices, just below. Not sure if your business focus should be B2C or B2B? Read our guide to the four main types of e-commerce business models. Different Types of B2C Email Marketing Campaigns The first step to developing a successful B2C email marketing campaign (EMK for short) is to decide on which type of EMK is best fit for your intended audience and specific goals. Are you looking to resolve online shopping cart abandonment? Trying to up-sell by targeting first-time customers? Are you asking for feedback from your regular customers? Maybe you just want to stay in touch with your customers so they don’t forget about you! Whatever the reason or audience is for your B2C email marketing campaign, there’s a type of EMK that will fit your needs and goals. Here are just a few examples: Newsletter A key characteristic of a successful SEO strategy is to create a blog and publish articles on a consistent basis. While the targeting of keywords will help improve your search engine rankings, that’s not the only way for you to use your unique content. Keep your customers engaged with your website by drawing them in with weekly, bi-weekly, or monthly newsletters that provide a summary of your recent blog articles. There’s really no rule or limit as to the type of newsletters you can potentially send out – find creative ways to give your readers a reason to stay tuned for the next newsletter. Ideally, a continuous interest in what you have to say will eventually turn those readers into repeat customers. Cart Abandonment The issue of online shopping cart abandonment in the e-commerce industry is one that all online sellers should pay serious attention to. Why? Because close to 90% of all online shopping orders worldwide were abandoned in March 2020, which makes it clear how important it is for online businesses to tackle this problem head-on. Cart abandonment emails might seem like a somewhat passive way of reaching out to clients, but they’re actually a remarkably effective way of bringing ‘abandoners’ back to complete their purchases. In fact, more than 40% of cart abandonment emails are opened, and more than 8% of abandoners end up making the buy. Cart abandonment might be unavoidable, but it can be addressed by using B2C email marketing. More than 40% of cart abandonment emails are opened, and more than 8% of abandoners end up making the buy. Cart abandonment might be unavoidable, but it can be addressed by using B2C email marketing. —Click to tweet Loyalty Program If publishing newsletters isn’t the way you want to go, creating a loyalty program can be an alternative way of using business email lists to keep customers coming back to your online store. This email strategy makes use of the classic principle of ‘you scratch my back and I scratch yours’. Try sending email alerts to your current regular customers giving them unique coupon codes (which will also make them feel special!). To encourage your first-time or not-so-regular customers to come back again and become regular shoppers, you can send emails informing them of your store’s loyalty program. Or, you can give them a ‘sample’ discount and tell them the discount is higher for return customers. Again, creativity is a powerful tool when it comes to B2C email marketing! Announcements Introducing a new product to your store? Bringing back a classic item that everyone loved? Launching a brand new feature to make the user experience more exciting? Whatever the announcement is, it’s almost always a good excuse to reach out to your customers and keep them in the loop. Granted, you don’t want to make a mountain out of every mole hill your business comes across – be somewhat selective. Ultimately, the goal of announcement emails is to share some energy with your customers and draw them in to take part in this “new and exciting” event taking place on your website. Your business email lists can be split up so that you can test different sorts of announcements to see which get the best engagement. Sales Make the customers on your business email lists eager for your next email by making special sales part of what they can expect to get from your online store. You can launch season-ending sales campaigns that will help you empty your inventory of items that won’t be in demand the next season. Make the most of holidays. And, of course, be prepared for Black Friday! Another way that using sales can be incorporated into your email marketing best practices is to raise your prices a bit and then offer an exclusive sale for a limited time to encourage your customers to purchase some of your more profitable items. This isn’t to ‘trick’ the customer – the products should be priced fairly so as not to be taking advantage of anybody. But there are ways to weave sales into your business’s broader emailing marketing and pricing strategies. Personalized emails Who doesn’t enjoy feeling like a VIP? Thanks to the power of technology, you can make your customers feel special with very little effort. There are plenty of apps and plugins you can add to your online store and use to pull customer data such as names, birthdates, locations, device use, and much more. With that data, you can create B2C email campaigns that have a personal touch to them. Address customers by their first name to sound more friendly. Automatically send out happy birthday promotions to put a smile on your customers’ faces. Target certain products for customers in specific geographic locations to increase sales (e.g. swimsuits for customers in Florida, winter gear for customers in the Mid-West, etc.). As with the other email marketing best practices, personalized emails depend on a fair bit of creativity to really pack a punch. Don’t be afraid to try something new. Prioritize Email Marketing for Better ROI Business email lists and B2C email campaigns aren’t the only ways to market your e-commerce business (far from it!). Other e-commerce advertising strategies include: Pay per click (PPC)Affiliate marketingSocial media marketingContent marketingEtc. So why all the fuss about email marketing? It turns out that email marketing has continued to rank as the most cost-effective form of digital marketing for quite some time, with a median ROI of roughly 122%. That’s an impressive figure, particularly when you consider the fact that no other form of digital marketing has such a high return on investment. These stats serve as a pretty clear reason for you to prioritize email marketing! Yes, a diversified marketing strategy will work best – but just make sure that you don’t underestimate the importance of keeping emails as a key component. Note: If your email marketing strategy is working well, but you need some extra cash to get started with a new e-commerce marketing strategy, consider using an e-commerce business loan to bridge the financial gap. E-commerce businesses have had a notoriously difficult time finding funding in the past, but BeProfit's online lending marketplace is changing that. » Find out 4 ways to increase your marketing ROI with dynamic pricing Analyze Data of Email Marketing Campaigns Having tons of data about your customers and the performance of your B2C email campaigns doesn’t serve much of a purpose unless you learn how to analyze that data to come up with useful insights. What are ‘useful insights’? Any patterns that you find in the way that your customers engage with your email campaigns that can ultimately be used to improve that engagement. Okay, that’s a little vague – let’s use an example to make this point more concrete. Let’s say you’ve sent out a number of emails to your customers over the past few weeks, and you notice that the highest open rates for all emails were among customers between the ages of 25 and 35 years. You can use that insight in several ways – for one, you can create different email templates to draw more engagement from customers in older age groups in order to increase their open rates. On the other hand, you could seek out ways to further capitalize on the high email open rates you already have – perhaps by adding special offers for products more targeted at younger customers. The bottom line: If your goal is to create the best email marketing campaigns you possibly can, then analyzing data from your EMKs is an absolutely essential part of the process! Klaviyo is a great example of an Email Marketing platform that takes analytics seriously. Its proprietary data analytics software makes use of machine learning to provide statistics with accurate predictive insights; metrics include predicted date of next purchase, number of upcoming purchases, CLV calculations, average time between orders, probability of churn, and more. Responsive Email Marketing Responsive email marketing is a simple idea – your emails should include a special form of coding that will allow it to display properly across all sorts of devices. After all, nobody likes to open an email and have to play around with the zooming, or read paragraphs that are broken up into weird pieces, and so on. The visual attractiveness of an email (or lack thereof) may sound like a petty way to make a decision to give business to a company, but more than 1-in-5 people say their biggest turnoff with mobile email is when emails are poorly formatted. Combine that with the fact that more than half (60%) of all email opens are made on a mobile device or tablet, and it becomes very clear why responsive email marketing is crucial. Customer-Centric Email Marketing A customer-centric approach to email marketing is one that is characterized by a focus on the defining traits of the customer(s) and what makes them unique. From that humanistic perspective, marketing teams then try to find the best ways to engage with customers through emails based on those defining traits. For example, emails make be different for iPhone users as opposed to predominantly desktop-using customers. Or the tone or CTA in the email may differ depending on the customer’s age group. Other parts of the customer-centric approach to email marketing include: Giving customers the ability to customize the types of emails they will receiveAllowing customers to choose the frequency at which they receive emails from youProviding customers with the ability to respond to your emails with questions or commentsAnd so on The customer-centric approach is contrasted with the content-centric approach to email marketing which emphasizes a focus on the emails themselves as well as metrics such as the number of email recipients, open rates, click rates and so on. Both types of email marketing campaigns are useful in their own right, so it’s best to think critically about how each strategy matches with your audience, your business type, and your broader business goals. Email Marketing Tips In case you missed any details above, we wrap things up for you nicely with this short-and-sweet list of email marketing best practices. Scroll down and have a look! 1. Emphasize a Sense of Urgency It’s always good to keep your customers feeling that the clock is ticking and time is running short. Try encouraging them to purchase when you have limited stock, or have the sale last only for a given period of time, or even make a one-time offer such as a discount on any item in your store for example. The important thing is that your customers understand that your great deals will only be available to them for a set amount of time – and that time is running lower by the minute! 2. Try Not to Use ‘No-Reply’ in Your Business’s Outbound Email Address Don’t get confused, you can still ask your customers not to reply to those emails. The point here is that when customers see an email in their inbox, they’ll see your company name or even a representative’s name. When customers see ‘no-reply’, it can create a sense of distance and coldness as if they’re not important enough for you to hear their reply. Avoid this bad practice. 3. Keep the Typeface in Your Emails Consistent Part of establishing a brand is consistency. Sometimes, a company’s font can become so iconic that the script can say something different but the shape of the letters will still remind customers of the company. Think about companies like Disney, Netflix, Adidas, Facebook, and so on. The same concept can and should be applied to your B2C email campaigns – choose a font that fits your liking and stick to it. Try not to stray too far from the base font by messing around with italics, boldness, or size too much. 4. Finish Your Emails With a Signature Even for the most popular, big-name, recognizable companies, signing an email is a standard procedure. It could be signed by a representative’s name or even just your company name and the word ‘team’ (for example here we sign some of our emails as ‘Team BeProfit’). Including some sort of signature is better than nothing at all – receiving an email from an unspecified person or group may raise some suspicions for online shoppers and cause them to avoid doing business with your online store. 5. Run a Quick Test Before Sending Emails Out Don’t get caught in a sticky situation as a result of laziness. It takes a simple matter of minutes to forward a copy of your proposed email marketing campaign to a friend or business associate for review prior to distributing to real customers. Check that your friend or coworker can quickly identify the call to action in the email. If they can, then you’re in good shape. If not, keep making adjustments until you get where you need to be. You’ve Got Mail Or at least your customers do! Email may be one of the oldest forms of online communication, but that hasn’t made it any less effective as a form of marketing. It’s never too late – get started with email marketing best practices today and use the information above to keep your B2C email campaigns on the right track. Disclaimer: The information contained in this article is provided for informational purposes only, should not be construed as legal advice on any subject matter and should not be relied upon as such. The author accepts no responsibility for any consequences whatsoever arising from the use of such information.
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Marketing4 Ways to Increase Your Marketing ROI With Dynamic PricingWant to increase your marketing ROI? Looking for high click-through sales and a high conversion rate? You are in the right place. Marketing ROI is a crucial performance measure for any marketing team. This is because when a marketing team is about to start a new marketing campaign it has to estimate the costs. To make their calculations efficiently, they will look at profitability with ROI (return on investment). In this blog post, we will first understand what ROI and marketing ROI are. And then, we will go over ways to increase your marketing ROI with dynamic pricing. Let’s dive right in! What is ROI? ROI is used to calculate the performance measure based on the efficiency and profitability of the business. It measures the return to your business on a specific investment. Marketing ROI Do you know how to measure the performance of your marketing activity and the profitability of your online businesses? For the marketing team, ROI metrics are extremely insightful. You can calculate the return of a digital advertisement and click-through sales to your business. To put it simply, you can track how the money you spent on your business is generated back. How to calculate ROI? ‘’(Sales Growth - Marketing Cost) / Marketing Cost = Marketing ROI’’ The goal to calculate ROI is to make more of each dollar you spend on marketing activities in return. Marketers who calculate their ROI are 1.6 times more likely to receive higher budgets for their marketing activities. This metric will help you understand whether your marketing strategy is working or not. You will also gain the ability to see your most effective marketing campaigns. By observing results you can make better decisions on how and where to distribute your marketing budget properly. » Improve your ROI by learning the best email marketing practices Dynamic Pricing There are a number of effective business models, in which one of the most popular models is dynamic pricing. Setting a product’s price is extremely tricky, and merchants can never be sure whether they are offering a good, optimal price in the e-commerce world. Business owners need to know that the price is one of the most important differentiators to customers. It affects every stage from visiting your website to researching your brand and purchasing a product. Any change might affect your marketing team’s efforts, whether positively or negatively. Introducing a dynamic pricing strategy to your products could be a game-changer. Let's first define dynamic pricing. Dynamic pricing is a strategy where you set flexible prices based on market demand and your competitors’ prices. You will constantly track and observe changes in the e-commerce market and price your products accordingly to those changes. E-commerce businesses, retail, and entertainment often use dynamic pricing strategies. It's an effective strategy to boost your sales, get higher revenue and maximize your profit. This is because it gives you a competitive advantage. By adopting it, you will monitor the market and track your competitors. Understanding your competitors’ actions and analyzing the market changes will help you take your online business to the next level. Now, let’s focus on increasing your marketing ROI with dynamic pricing. How to Increase Your Marketing ROI with Dynamic Pricing There are several ways to improve your ROI and dynamic pricing could be the right method for you. Dynamic pricing is more than price changes. It's also about working with internal and external factors in the market. Then, make necessary changes accordingly. While using a dynamic pricing strategy you will be observing your customers' reactions to your price changes. At what price point are they not willing to buy? Will your customers accept buying the same products at higher prices? For dynamic price optimization, there are lots of things to consider. Let’s go one by one. 1. Monitor Your Competitors How much do you charge for your products? You know the answer right away. But do you know about your competitors' prices? Tracking your competitors' prices is good for competitive e-commerce. You will see if there is a potential to increase your prices. If competitors are charging significantly higher prices and you are not, you might be losing profit. Since the e-commerce world is growing very fast, online sales are growing more than ever. Merchants are working to adapt their operations based on changes in the market. On the other hand, customers are making more rational decisions. Customers compare prices easily and rapidly. As statistics show; 90% of online shoppers say they actively compare deals before making a purchase. And nearly 50% of consumers only purchase discounted products. 60% of shoppers say that pricing is the key factor when making a purchasing decision. To optimize your dynamic pricing, you need to observe your competitors’ prices. Working with their pricing information can be your guide while offering dynamic prices. There are two ways to monitor your competitors' prices; Manually tracking and working with price tracking software. Manually tracking your competitors is time-consuming and not effective at all. Think about tracking all price changes just happening in a single day! To make it clear let’s look at some statistics; Amazon makes over 250 million price changes every day with the prices for millions of its SKUs changed every 10 minutes to ensure it offers the best prices to its competitors. Price change information will show you how much competitors are selling their products for and how much demand there is in the e-commerce market. Globally, many online retailers use this strategy to maximize their profit. You will gain a competitive advantage by understanding your competitors’ actions. 2. Start Marketing Campaigns According to Price Changes The effectiveness of your marketing campaigns isn't determined solely by the campaign itself. It's also determined by price changes. A competitive dynamic pricing strategy offers high click-through sales and a higher conversion rate. When merchants change the price, it affects your click rate and conversion. This might be positive or negative. But the important thing is that the marketing budget needs to be adjusted and be ready for those changes. Therefore, pricing and marketing strategies need to be managed together. Some companies use a low-pricing strategy to have higher sales. They also get a bigger market share. To increase your sales, the marketing team needs to start to invest in some activities such as advertising on Google Ads. This can be advantageous to have more traffic to your e-commerce website. Whichever pricing strategy you use, your marketing activities will need to work accordingly. 3. Set Dynamic Price Rules Some products have a minimum and a maximum selling price. Merchants do it to maintain their brand image. If you haven’t implemented this tactic in your business, you definitely should! You will determine the minimum price that you are willing to sell each product. You can set rules based on changing market dynamics. The actions in the price rules may be; Offer the lowest price compared to the competitors. Offer the average price in the market.Round up the price to the nearest ‘’.99’’ 4. Test Your Dynamic Prices Online stores realize the extremely competitive environment of e-commerce. Moreover, competition is not just between merchants. Customers love to make quick decisions by comparing prices and they are also looking for deals and promotions. In such an environment, testing different prices can be a good idea. You can observe your customers' response to price changes. See how different prices perform on different occasions. Observing your customers' response to price changes can lead you to comparison. Now you can see which price points are more effective for high sales and high conversion rates. Takeaways Good marketing ROI is something every marketer would want. Testing out new strategies might be a good idea for online merchants. Since dynamic pricing is becoming increasingly important and profitable for e-commerce merchants, marketing teams can increase their marketing ROI by adapting it.
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MarketingGoogle Ads vs. Instagram Ads: ROI Analysis Per E-Commerce VerticalIf you own an e-commerce business, you know that the right marketing channels can make or break your success. While there are many potential channels to choose from, two of the most popular are Google Ads and Instagram Ads. So, which one should you invest in? Let’s take a brief overview of each channel before comparing their return on investment (ROI) for e-commerce. Google Ads Google Ads are a great option for e-commerce because they're cost-effective and highly targeted—you can target customers based on their location, gender, age group, interests, and more. You can also customize your ad campaigns to fit the needs of your specific business and budget. According to research conducted by Merkle and reported by Search Engine Land, over half of all retail search clicks come from Google—and those clicks have an average order value (AOV) of $94. On top of that, the cost per click (CPC) is fairly low compared to other channels like LinkedIn Ads. This makes Google Ads a great option if you want to increase your visibility without breaking the bank. Additionally, you can improve your performance with features like Google Shopping. Create great visuals to showcase your products and provide detailed product information to your potential customers. Instagram Ads Instagram Ads are viable for e-commerce brands because they can reach a large audience and have a high engagement rate. You can target people based on their age group, interests, and activity on other platforms like Facebook or Twitter. Instagram isn’t just about pretty pictures—it’s also an incredibly powerful marketing tool. For example, if you’re selling apparel, beauty products, or home goods, Instagram is a great place to start advertising due to its visual nature. According to Statusbrew, Instagram Ads have an AOV of $65 and an average click-through rate (CTR) of 1.08%. While this CTR isn’t as high as Google’s (1.91%), it still gives you good value for money and helps bring more people into your sales funnel than other platforms. ROI Analysis When you evaluate the ROI of Google Ads and Instagram Ads for your e-commerce brand, it's important to consider your specific e-commerce vertical and target audience. For example, B2B products like industrial equipment or office supplies may not see as much success with Instagram Ads because their target audience may not be active on the platform, whereas Google Ads may be more effective in reaching them through targeted keywords and industries. Alternatively, high-end luxury goods like designer fashion or fine jewelry may not see as much success with Google Ads because their target audience may not be searching for them on Google. In this case, Instagram Ads may be a more effective platform because those businesses can target their audience through visually engaging images and videos. » Discover 4 ways to increase your marketing ROI using dynamic pricing ROI Comparison Example: Beard King Last year, my e-commerce client, Beard King, approached me to launch two advertising campaigns to compare the ROI between Google Ads and Instagram Ads. To start, both campaigns had a monthly budget of $2,000. I used this formula to calculate ROI: ROI = (Sales from ads - Cost of ads) / Cost of ads The details of both campaigns were as follows: Google Ads18-35-year-old men4-week running timeFocused on the Search networkTargeted male grooming products (e.g., beard oils and balms) through keywordsInstagram Ads18-35-year old men4-week running timeInfluencer pages and stories advertisementsTargeted beard care products After targeting the same audience and running for the same length of time, the final results of the campaigns in terms of CTR/engagement rate, cost per click (CPC), and total number of clicks were as follows: Google AdsCTR: increased by 7%CPC: $0.30Total clicks: 654Instagram AdsEngagement rate: increased by 12%CPC: $0.50Total clicks: 400 If you compare the results of both campaigns, it's clear that Google Ads yielded a higher ROI for Beard King in this case. Google Ads was able to generate 254 more clicks than Instagram Ads. This represents an additional ROI of 25%. Also, because Google Ads has an average cost per click (CPC) 30 cents lower than Instagram Ads, Beard King managed to save $76 while gaining those extra clicks! » What about other platforms? Compare Google Ads vs Amazon Ads Final Verdict: It Depends on You Both Google Ads and Instagram Ads are powerful tools in any e-commerce marketer's arsenal—but they're not created equal when it comes to ROI. Generally speaking, Google Ads tend to be better if you're looking to increase your overall online visibility because its AOV and CTR are higher than Instagram's—but if you're selling something where visuals are important (like apparel or beauty products), then investing in some well-crafted Instagram Ads could be well worth your effort. If you're starting to feel intimidated by any metrics or calculations connected to ROI or ads—don't! Simplify the entire process with BeProfit's app. Effortlessly integrate your online store and use the customizable dashboard to get an overview of all your store's figures so you can make data-driven decisions for your e-commerce business. » Book a demo to try the BeProfit app's features for yourself