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Welcome to the Merchant Mastery blog.

In case you missed it, Klaviyo introduced 4 MASSIVE product updates at its recent product event, to help merchants connect with customers better, with a key focus on ownership. Ownership of data, relationships, and the experiences they deliver. 

Snapchat has a distinct user base:

  • 75% of users are millennials and Gen Z (who have $1 trillion in direct spending power).
  • 70% of users are female. 
  • 84% of users are under 34 years old.

For companies whose target market aligns with this niche user base, Snapchat advertising is a no-brainer .

What about those companies whose target market doesn’t align?

Well….

Spoiler alert: There’s a lot of competition and the brands that are surviving are the ones that have a creative advantage. Brands using a lot of user-generated content (UGC) are performing relatively well. UGC gives an extra buffer to allow brands to still be profitable on the Facebook advertising side.

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.

Kind of.

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. 

Earlier this month Apple kicked off its annual developers conference where it unveiled iOS 15 with lots of new features for post-pandemic life, many of them starting with the letter P.

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