All because of cart abandonment.
Don’t panic. There’s a solution.
Online stores can earn back 3-14% of sales by sending abandoned cart emails. These emails remind customers of what they left behind and encourage conversion.
Having an abandoned cart strategy in place is critical as nearly 70% of online shopping carts are abandoned.
There’s no way to sugarcoat this: We live in a pretty volatile world.
And this volatility isn’t easing up any time soon.
The key is preparation, and data. Sooo much data.
A few years ago, Sebastian (let's call him that), whose business operates in the automotive space, reached out to us to chat about his eCommerce strategy.
He had developed an incredible brand, but competition in the automotive space was fierce, and although they had built a loyal fanbase, they wanted to make their brand a household name.
As of August 1, 2021, Shopify is offering zero percent revenue share on the first $1 million USD your app makes in the Shopify App Store.
And the better news: Every year, those numbers reset.
What if you earn more than $1 million USD?
You'll pay 15 percent revenue share, which is lower than the previous 20 percent.
Shopify is also introducing a one-time registration fee for all developers who register after August 1st.
Look, there's no easy way to say this: You're going to have to spend some $$$ to acquire new customers.
But (and this is easier to say)...
It's much easier to get a repeat purchase from an existing customer than it is to acquire a new customer.
This is where loyalty and rewards programs can be a major value-add because they can help you increase revenue in a few ways:
Remember in-store layaways? Buy-Now-Pay-Later (BNPL) is kind of like that.
Since we're so fond of data over here, here's a number for you: More than one-third of US eCommerce businesses are looking into offering financing options to customers.
Amazon Prime Day is on June 21 and 22 and for many a merchant, represents one of the biggest earning opportunities of the year. If you already sell on Amazon, this is your cue to roll up your sleeves and get to work on your Prime Day campaign. Learn how to maximize your Amazon Prime Day earnings this year.
When it comes to scaling your business, tracking is everything. You can’t turn up the dial on your sales if you don’t know where they’re coming from.
That’s where third party cookies come in. They show you what’s working (and what isn’t) when it comes to driving sales.