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Read expert articles with insights about e-commerce profitability from analyzing thousands of e-commerce businesses' data.
Why BeProfit Is the Best OrderMetrics Alternative

Tracking

Why BeProfit Is the Best OrderMetrics Alternative
eCommerce sellers, we can’t stress enough how important it is for you to track profit margins. This is your most accurate way to estimate long-term profitability and vulnerability. In order to make wise decisions and stay on the right track, it is extremely important to monitor and analyze your data. However, with so many data points that stream from endless sources at once, it’s almost impossible to keep track. Ad metrics, shipping costs, gateway fees, and taxes, just to mention a few. Already feeling lost? That’s why profit calculators are a game-changer. There are many tracking and analysis tools out there, one of which is OrderMetrics, a platform for analyzing eCommerce data and reporting profit margins in real-time. Unfortunately, OrderMetrics will shut down its services on June 30th, and many of its users are now looking for an alternative. So if you’re in need of a new profit tracking tool, read on! Features of Great Profit Tracking Solutions Having a deep understanding of your data is essential to the success of your business, so you must already know the importance of a good profit tracker. Here’s what you should look for in your next solution: 1. Ease of Use A profit tracker should simplify your data to help you make better decisions. Therefore, it’s crucial that the solution is user-friendly, easy to set up, and lacks complexity. All data must be aggregated in one dashboard so you can have a quick understanding of your most important metrics. 2. Seamless Integrations In order to make your data analysis accurate and reliable, the profit tracker should easily integrate with top ad platforms, shipping services, order data, and sync expenses. That way you will be able to get up-to-date reports to make data-driven decisions. 3. Customizations To support your business goals, it is important to choose a profit tracking app that is adaptable and flexible. Look for a solution that allows you to control your dashboard’s preferences, enter variable and fixed expenses when needed, create & export custom data reports, and customize your store's data. 4. Accurate Data It’s important to ensure that you’re viewing the most accurate profit calculation and data reporting. Your profit tracking app must use the most current currency exchange rates, but also keep past rates to convert historical orders and expenses accurately. Your app should cover the most important business metrics, such as orders, products, inventory, marketing ad spend, shipping profiles, payment processing fees, taxes, COGS, and overhead costs. 5. Reliable Customer Support When managing your business income and expenses, you want to make sure you’re in good hands! A support team that responds quickly and is willing to address your issues, is key to valuable usage and great experience. The #1 Profit Analysis App for Online Merchants Now that we’ve drilled down into the most important features of a profit tracking app, say hello to the best profit calculator out there! BeProfit is an all-in-one profit tracking and analysis tool for online merchants. Rated by many as the best profit tracking solution, no wonder this app was staff picked on Shopify. When thinking of ease of use, think BeProfit! With a quick and easy onboarding process, you will be all set in a matter of minutes. The app offers automation and integrations with many platforms. You only have to sync them once and are good to go! The intuitive profit dashboard is what you need to get your finances in sync and scale up for growth. You get all your data in one place and can easily make sense of your finances. Calculate and track profits, locate profitable marketing channels, and much more. BeProfit seamlessly integrates with top Email Marketing and ad platforms to provide marketing insights that translate into more profits, as well as top shipping platforms like Shippo, and ShipStation. So, here’s some of what you can do with BeProfit: 1. Get an in-depth understanding of your profits. Graphs and visuals help users get a 'daily snapshot' to stay on track and see all core metrics organized intuitively. 2. Turn data into valuable and actionable insights. Case in point: BeProfit breaks down your bestsellers and most/least profitable products. 3. Keep track of your ads and monitor them. BeProfit presents the effectiveness of ad platforms, campaigns, and ad sets, and even drills down into individual ads. 4. Customize reports to better support your goals. You can choose from the preset report templates and schedule their frequency, such as: Weekly Profit ReportDaily Product ReportMonthly Other Expenses ReportMonthly Sales Tax Report Customize the reports that best suit your needs and have them sent to you at a time of your choice. 5. Analyze Lifetime Value (LTV) by cohorts. As keeping existing customers costs less than acquiring new ones, this metric is extremely important. It helps sellers strategize their long term success by identifying successful cohorts. Wrapping Up Thanks to its ease of use, accuracy, and many great features, the BeProfit app is the #1 profit analysis app for eCommerce sellers. Users who have benefited from OrderMetrics in recent years will surely appreciate the amazing benefits it has to offer.
Shopify Omnichannel Strategies to Boost Your Marketing

Marketing

Shopify Omnichannel Strategies to Boost Your Marketing
Omnichannel strategies are, in a nutshell, marketing strategies that build your brand presence on a variety of channels. This presence is online and it’s also physical. A good example of an omnichannel marketing strategy is a restaurant. You have a website, you can order online, using QR codes or on WhatsApp, and then you can physically visit, sit, and eat. Multiple channels, same brand, increased brand experience and awareness. Benefits of Omnichannel Strategies for Your Shopify Store Omnichannel strategies can benefit your Shopify store in three ways—the 'triple S' of omnichannel benefits: Support When you use channels like SMS, email, and web push notifications so that they work together and support each other, you can send integrated abandoned cart reminders and other retargeting campaigns seamlessly. Sales This harmonizing of channels helps you to drive more sales for your store. You can boost your conversions with Instagram, Facebook, TikTok, or any other platform. Satisfaction It will increase your customer satisfaction because you are finding your customers where they are. Customer satisfaction also means customer retention. How Do Omnichannel Strategies Work? Omnichannel strategies communicate in these four ways to boost sales, as well as establish and grow your brand in the market: Uniformed communication Strategies across all channels need the same messaging, tone, and look and feel to be able to promote brand consistency. A consistent brand is a trusted brand. Automated communication Timing of communication is key. It is critical to have an automated communication marketing strategy that uses metrics and data collected. If you catch your customer at the right time, and on the right channel, your sales will be optimized.Personalized communication This gives you the opportunity to create a link between you and your customer. The more personalized the communication is, the higher the chance of it being read.Data-driven communication This will help you optimize the management of all your customers’ touch-points. Data-driven communication lets you speak to your customer at a point that needs a positive nudge for them to continue instead of abandoning the sale. How to Build a Successful Omnichannel Strategy To build a successful omnichannel strategy, you need to go through these six important steps. Depending on where your brand is, you may be able to skip a step or two: 1. Build a Consistent, Professional Brand Do you have a logo, slogan, professional look, and feel? The point of omnichannel marketing is to give your customers a three-dimensional experience of your brand. If your look and feel are not consistent, powerful, and professional, there will be a disconnect between channels. All top e-commerce agencies do this, and they do it well! 2. Understand Your Customer It is essential to use your metrics to get a good idea of who your customer is. For example, you won’t sell skateboards to people who are in their 50s. And, you also won’t attract many new customers from a professional platform like LinkedIn. Getting to know your customers will help you increase organic traffic, and, as a result, boost sales. 3. Pick Your Channels Carefully Once you know your customer, you need to understand which channels are most appropriate for them. Put meaningful e-commerce advertising together for your chosen channels so that your strategy is intentional and, therefore, appropriate. 4. Implement Omnichannel Payments To give your customers a seamless and efficient experience, they need seamless payment options. Let’s say they see an advert on Facebook and they decide to buy a product. Months down the line, they see a product on Instagram; it would make the sale so much easier for them if their details are all loaded from the Facebook sale. It’s about making it as easy as possible for your customer to buy your product. Omnichannel marketing is about surrounding your customer with your brand in a way that subtly reminds them that your brand is strong and omnipresent. Just remember, there is a big difference between digital marketing and e-commerce. Digital marketing is a domain that focuses on marketing products and services using digital platforms. E-commerce, on the other hand, is all about buying and selling products or services using the internet. The more you understand the digital online world of marketing, the faster you will grow your business and increase your return on investment. It’s all about staying lightyears ahead of the pack!
How to Use and Interpret Amazon Advertising Reports

Marketing

How to Use and Interpret Amazon Advertising Reports
Amazon advertising reports provide insights into how well your e-commerce ads are performing on Amazon, what traffic they’re driving to your product pages, and how much you’re spending on Amazon ads. The reports help merchants track and determine whether they should continue to invest in Amazon ads or make changes to your campaign. This also means that merchants will be able to track and calculate their profits. Types of Amazon Advertising Reports When you're advertising with Amazon, it's important to track your progress and results. Thankfully, with the use of advertising AI, Amazon provides a variety of reports to help you do just that. There are four types of Amazon advertising campaigns: sponsored products (SP), sponsored brands (SB), sponsored brand videos (SBV), and sponsored display (SD). Each campaign has various reports available for merchants to choose from. Additionally, consider taking a look at our ultimate guide to effective e-commerce ads. Sponsored Products (SP) For sponsored product campaigns, Amazon makes the following 9 reports available: Advertised productBudgetCampaignPerformance over timePlacementPurchased productSearch termSearch term impression shareTargeting Sponsored Brands (SB) For sponsored brands campaigns, Amazon makes the following 7 reports available: Campaign placementCampaignCategory benchmarkKeyword placementKeywordSearch term impression shareSearch term Sponsored Brand Videos (SBV) For sponsored brands videos campaigns, Amazon makes the following 4 reports available: Campaign placementCampaignKeywordSearch term Sponsored Display (SD) For sponsored display campaigns, Amazon makes the following 4 reports available: Advertised productCampaignPurchased productTargeting Don’t leave your profits up to interpretation. Learn how to generate solid data with an Amazon profit calculator. How to Use Amazon Advertising Reports Before we start interpreting and analyzing any of Amazon's reports, let’s first take a look at how to generate and download them: Log into your Amazon seller central account.From the sidebar menu, click the “Reports” submenu item and select “Advertising Reports.”When the page loads, click the “Create Report” button.You will then be presented with the different campaign types under the “Configuration” panel. Select which one you’d like to work with and, using the drop-down menu below, choose which report type you wish to generate.From the same page, below the report type drop-down menu, select the time unit you’d like to use and the reporting period.Below the Configuration panel, you’ll find the “Reporting settings” panel. From here you can name your report, use "email address" to set recipients of the generated report, and schedule times for reports to be generated automatically in the future.Once these above items are designated, click the “Run Report” button to generate and download the report as an Excel XML file. Are you curious about increasing your sales potential? If so, check out our guide on how to promote your Amazon products. How to Interpret Amazon Advertising Reports Now that you’ve downloaded your freshly generated report, let’s move on to the analysis and interpretation. Understand that each report type generates different collections of data, so the interpretation of each report will vary slightly. With this in mind, the following metrics are commonly used across many of Amazon’s advertising reports: Click-through rate (CTR) CTR is simply a percentage of ad clicks/impressions. This metric can be used to judge just how well your ads are performing and whether their design may need tweaking or improving.Cost per click (CPC) CPC gives a cost value to how much the platform will charge you when a customer clicks an ad pertaining to a certain search term.Total sales The number of sales you made for a certain ad.Total advertising cost of sales (ACoS) The percentage of the ad cost pertaining to the generated revenue from a sale.Spend The total cost of an advertising campaign for a specific search term.Advertised ASINs The products advertised.Purchased ASINs The products purchased. You can compare purchased ASINs against advertised ASINs to see which advertised products are selling and which products that aren’t advertised are selling.Budget The predetermined budget set aside for an advertising campaign. If you’d like to diversify your sales potential or are simply wondering whether to move your products over to a website of your very own, why not check out our Shopify vs. Amazon comparison guide? Or, if you’re already running your own website, learn of all the ways you can increase organic traffic.
Remarketing vs. Retargeting: What’s the Difference?

Marketing

Remarketing vs. Retargeting: What’s the Difference?
Many Pay-Per-Click (PPC) advertisers think that remarketing and retargeting are the same concept. This is simply not true. They do have some similarities but use different strategies, different channels, and also have different goals. As an e-commerce business owner, you need to understand the difference and use a combination of the two to boost sales and, at the same time, the success of your business. The Different Types of Remarketing The aim of remarketing is to re-engage customers from the past. You’d primarily use email as the channel to reignite business with these customers because they already know your brand and may have purchased from you before. There are various types of remarketing, namely: Standard remarketing Shows past visitors display adverts as they journey through various web pages. These are people who have visited your webpage but exited without buying anything.Dynamic remarketing Displays specific products that the visitor has previously put in their cart but left before finalizing the purchase.Video remarketing Instead of displaying adverts, you’d use videos for remarketing.Remarketing lists for search adverts With Google AdWords, you can customize your search ad campaigns so that they are directed at visitors who have already visited your webpage. The Benefits of Remarketing The main benefits of remarketing include: You stay connected to people who visit your site.Remarketing with effective e-commerce ads, if done correctly, can give you more conversions and prevent cart abandonment. You can also do a cart abandonment analysis to keep track of this metric.You enjoy a lower cost per conversion, which results in a higher return on investment. You can use Google ads conversion tracking to monitor your conversions.Remarketing is an excellent strategy to promote a new product or service to a new audience.Displaying a call-to-action can also help to bring in business. The Different Types of Retargeting Retargeting is different from remarketing because it mainly uses paid adverts to re-engage audiences who have visited your social profiles or your website. Let’s look at the different types of retargeting that you can use: Cross-channel retargeting ads This allows you to deliver channel-specific ad content to multiple platforms. Don't forget to use ad trackers to monitor interactions.Email retargeting This refers to retargeting ads to customers who have responded to your email marketing strategy.Pixel-based retargeting Your ads will pop up as soon as the visitor leaves your webpage, luring them back using a stored browser cookie.Search-based retargeting Your ads only pop up for users who have searched for a specific phrase or keyword, which can be an effective way to increase organic traffic.Social retargeting Display pop-up ads when visitors leave your website or interact on your social media channels through likes, comments, and shares. The Benefits of Retargeting The main benefits of retargeting include: You build brand recognition and consistency.Repeated interactions build brand trust over time.Retargeting can be used in any stage of the sales funnel and complements your email campaigns.You can personalize your messages.Customers are pushed through the sales funnel faster. The Difference Between Remarketing and Retargeting So, the essential difference between remarketing and retargeting is that remarketing focuses on email campaigns that reach out to users who have already interacted with your website, which opens the doors for more targeted messaging and upselling. Retargeting, on the other hand, focuses on paid ads. These ads can take a multitude of different forms and targets a much wider audience. Which One Should You Use? There is a time and a place for both strategies because, in the end, they do complement each other well. You would use remarketing to recapture an audience that has already interacted with you, which means you can personalize their messaging—and we all know that personalized messaging is more effective than the “spray and pray” strategy. Then, you would use retargeting to further establish your brand presence on multiple channels, catching the eye of new and prospective customers. It's really about creating more touchpoints, or widening your net so that you can catch more fish.
4 Ways to Increase Your Marketing ROI With Dynamic Pricing

Marketing

4 Ways to Increase Your Marketing ROI With Dynamic Pricing
Want 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. 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.
Why You Should Use AI in Advertising

Marketing

Why You Should Use AI in Advertising
The advertising landscape is changing rapidly. Gone are the days of brainstorming a clever headline, matching it with an award-winning visual, and plastering it all over for the world to admire. This technique may produce really good adverts, but do those adverts actually increase sales? Artificial intelligence (AI) advertising uses data and metrics to produce adverts that will appeal to your chosen target markets in order to increase your site's organic traffic. There’s actual science behind it. As a business owner, if you don’t keep up with this rapidly developing landscape, you might as well prepare to eat your competitors’ dust. How AI Is Used in Advertising AI tracks the performance of your adverts and marketing campaigns. It can also track the performance of your competitors’ campaigns. The real advantage of AI in advertising is that AI can digest your data and metrics almost immediately to tell you which campaigns are working, what your customers are looking at and interacting with, and what your competitors’ customers are most interested in. This will help you to optimize your reach while optimizing your ad spend at the same time. AI can help you put the copy for effective e-commerce ads together and provide variations to choose from. AI can also help you place your adverts—it’s no longer an educated guess. You’ll know exactly which channels to use, how often to use them, when to use them, and when it’s time to change and refresh your campaigns—depending on the functionality of the AI solution you choose to use. Benefits of Using AI in Advertising There are many benefits to using AI in digital marketing. In fact, the benefits far outweigh the cons. The most important ones include: Cost You will save a lot of money in the long run because your campaigns will be more accurately targeted. Relevance Your adverts will be more relevant and more personalized.Streamlined campaigns Your campaigns will become more streamlined over time, ensuring that your brand presence is visible at the right time and on the right channel for optimal results.Machine learning This means that your AI will learn and improve from experience over time without needing any programming. Dynamic pricing AI can help you set your pricing according to your customers' purchasing patterns so that it changes as trends come and go.Ad trackers Ad trackers in e-commerce offer you valuable information and data to help shape future campaigns. How Google and Facebook Use AI for Advertising Google and Facebook are using AI for advertising and have been for some time. Google uses AI and automation in various ways, including maximizing performance and relevance on YouTube, putting together more responsive search adverts, and Google ads conversion tracking. More recently, Facebook has been using AI to: Detect deepfakes This enables Facebook to detect artificial videos with an accuracy of around 82%.Real-time translations Translates posts for users instantly.Assisting the visually impaired This AI provides a voice-over for visuals and posts specifically for people who are visually impaired.Suicide detection The AI combs posts to pick up on content that could signal that someone is considering suicide.Image recognition Facebook has been using image recognition for some time. This AI is simply developing and improving as time goes by. Thinking about advertising on Facebook? Read How and Why You Should Use Facebook’s Campaign Budget Optimization. How to Start Using AI in Advertising The good news is that you can start using AI to boost your online marketing today without knowing much about it. Here is a simple step-by-step guide to get you started: Online learning Familiarize yourself with AI in advertising by spending some time reading up about it. A wealth of information is available in the form of blogs, articles, and videos to better understand what AI in advertising entails. There are also courses you could attend online.Set goals Spend some time working out exactly what you want to achieve with your AI. Choose the AI solution that best matches your goals You may need the help of an expert with this step to make sure your solution is aligned with your goals. Even though this will incur costs, the savings you will make in the future will cover these costs multiple times over.Start small Integrating AI into your advertising should start small. As you learn and understand the way your AI works, you can bring in more functionality and grow your AI strategy. Get staff buy-in It is very important to get buy-in from all your staff. AI must become a daily task so that it integrates into the regular routines of your business. It will be easier to get buy-in when your AI starts showing results. This can be very exciting for even the most rigid staff member.
How to Use Facebook Conversions API for Your Shopify Store

E-Commerce Business

How to Use Facebook Conversions API for Your Shopify Store
What kind of events can you track with the Facebook Conversions API? With the Facebook Conversions API, users can track how well their Facebook ads are performing by measuring how many conversions they generate. A conversion is defined as any action that a customer takes after clicking on your ad, such as making a purchase, signing up for a subscription, or downloading a file. The Facebook Conversions API allows you to measure not only the number of conversions generated by your e-commerce ads but also the value of those conversions. This makes it easy to see which ads are generating the most business for you; from there, you can adjust your campaigns accordingly. The Facebook Conversions API can track any type of conversion, including those that occur on mobile devices and desktop computers. Worried about overspending on your Facebook campaigns? Now you don’t have to. With Facebook campaign budget optimization, you’ll never overspend again. How to Add and Use Facebook Conversions API on Shopify If you haven’t already, before we get to the first step, you’ll need to set up a Shopify Facebook channel. The Facebook channel contains a product catalog for Instagram Shopping, Facebook Marketing, and Facebook Shop. To get started, head to your Shopify admin, and click the + sign next to the “Sales Channels.”Click the + sign next to “Facebook” > “Update sales channel” to begin the installation.Select the “Start set up” on whichever feature you’d like to install first.Select “Connect account” and sign in to your Facebook account.Connect the Facebook assets you’d like to use for the features you’d like.Accept the terms and conditions.Finish by clicking “Finish setup.” Now that you're set up and ready to go, let’s walk through the steps of connecting your Shopify store and Facebook Conversions API: From your Shopify admin panel, select “Facebook” under the “Sales Channels” submenu option.Scroll down and find the “Data Sharing” panel, making sure the “Enable customer data sharing” is switched on, and select “Maximum” tracking level. This option enables Conversions API, “Standard” and “Enhanced” does not.Now that this is ready, open your Facebook account Ads Manager and navigate to "Events Manager" to ensure your events are populated and the server connection is enabled. To finish up, simply create a Facebook Ads campaign and let Conversions API start tracking and collecting your customer data. If you’d like to learn about Facebook’s Dynamic Ads, see our guide, or check out these 40 best Shopify apps. Benefits of Facebook Conversions API And what is the importance of Facebook Conversions API to online businesses? By tracking conversions, companies can see which ads are resulting in sales and then allocate their budget accordingly. The Facebook Conversions API is also beneficial for re-targeting, which is the act of targeting people who have already interacted with your business online—re-targeting helps remind previous website visitors about your company and can lead to higher conversion rates. The Facebook Conversions API is also helpful for measuring the overall effectiveness of a Facebook marketing strategy. By analyzing data from the API, users can see which types of ads are driving the most conversions, what landing pages are most effective, and even which demographics are most likely to convert. The API also provides data about the cost of each conversion and the return on investment for each ad campaign. This information can help businesses optimize their advertising campaigns and improve their ROI. A great way to increase conversions is to attract more site traffic. To learn how, take a look at these effective ways to increase organic traffic.
What Is Social Commerce and How Can It Drive Shopify Sales?

Marketing

What Is Social Commerce and How Can It Drive Shopify Sales?
Social commerce is the use of social media platforms to facilitate or enhance online transactions and boost e-commerce profit margins. Social media can include anything from discussion forums and review sites to social networks and blogs. It can provide information about products, share opinions, and connect with other consumers. Social commerce can help businesses reach new customers, build brand loyalty, and get feedback about their products. Social Commerce vs. E-Commerce Social commerce is the process of buying and selling goods and services through social media platforms. This can include buying and selling directly on the social media platform or using a third-party application or website to complete the transaction. E-commerce, on the other hand, refers to the buying and selling of goods and services over the internet. This can include online stores that sell physical or digital products, such as e-books or software. Aside from social commerce, there are quite a few influences that account for e-commerce sales. To learn more, see our post on using e-commerce influencers for more sales. Benefits of Social Commerce When it comes to the digital world of e-commerce, social media has become an unavoidable force. With over 2.3 billion active users, social media is a powerful platform for brands and businesses to connect with potential and current customers. As social media continues to evolve, so does its potential for e-commerce. Social commerce is now becoming one of the most important aspects of online retail. There are two key benefits to social commerce, including: Increased exposure and reach Social media platforms have massive user bases, so retailers that sell products and services through them can reach a large audience quickly and easily. When customers share links to products they’ve purchased on social media and certain platforms, their friends and followers can see their purchases, increasing exposure.Increased traffic and sales Social media platforms are great drivers of traffic and sales. When retailers post links to their products on social media, people often click through to the website to learn more or make a purchase. Another benefit of social commerce is it facilitates upselling. Click here to learn more about how to boost sales with upselling. How Social Commerce Drives Shopify Sales and Customer Engagement One of the reasons for Shopify's growth is its focus on social commerce. For instance, Shopify integrates with many popular social media platforms, making it easy for businesses to drive sales and customer engagement through social media. In fact, research shows that over 35% of Shopify website traffic is sourced directly from social media, collectively more than organic sources (26.5%) and direct search (24.3%). For example, businesses can create Facebook pages for their stores and share product updates, discounts, and special offers with their followers. They can also run contests and giveaways on their Facebook pages to increase customer engagement. Social commerce isn’t the only means to drive Shopify sales. To learn more, check out these Shopify programs to boost sales. Best Platforms for Social Commerce There are a variety of platforms that allow businesses to sell their products and services through social media. Some platforms are better than others for certain types of businesses. Here are three of the best platforms for social commerce. 1. Facebook Facebook is a great platform for businesses that want to sell products and services to people already connected to them on Facebook. It is also a great platform for building brand awareness. Most importantly, the platform allows e-commerce advertising and dynamic ads, which are powerful selling tools. 2. Instagram Instagram is a visual platform that is great for promoting products. With over 1 billion users, it is a great place to reach potential customers. Instagram offers businesses the ability to create profiles, post photos and videos, and interact with followers. 3. Pinterest Pinterest is another visual platform that is perfect for social commerce. With over 250 million users, it is a great place to find potential customers. Pinterest offers businesses the ability to create profiles, post pins, and interact with followers. Another powerful selling platform for e-commerce is, of course, Google. To learn how to track e-commerce sales on Google, check our post on Google Ads conversion tracking.
Email Marketing Best Practices—How to Improve Your ROI

Marketing

Email Marketing Best Practices—How to Improve Your ROI
Email 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. 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 nearly half (46%) of all email opens are made on a mobile device, 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.