Posted on August 02, 2019
Are you spending more than $10,000 per month in advertising for your E-Commerce company?
Then this could be the most important article that you see all day.
We just helped one of our 7+ figure E-Commerce clients make a cool $93,000 on a Monday!
There’s a few reasons behind that you can learn and use to improve your company’s online sales performance…
- It’s our Advertising Strategy. We are primarily using Facebook for targeted lead gen since this platform has the BEST targeting options out of all online advertising platforms to be able to bring in the right people into this particular client’s website. Then we are using multiple Ad Channels like Google, Bing, Yahoo, and even Pinterest to convert leads into customers through retargeting so we are maximizing lead to customer conversions. This also protects this client’s sales performance since we have an omnichannel strategy that doesn’t over-rely on just one channel for leads and sales.
- Take a look at the number of online store sessions above. We had 3,294 store sessions and there’s a few reasons why:
- We publish a lot of content with the client consistently.
- Typically, there’s a new podcast episode, video, or blog article every single week, at least 1.
- This gives our client growing awareness and engagement with their audience that they have.
- It adds new people while keeping current people glued to the brand. It also causes people to find the brand, type in the client’s website, and visit the store.
- With our ad strategies in place, we are able to retarget all store visitors on multiple ad channels automatically after acquiring affordable clicks through content distribution.
- Furthermore, all content is SEO optimized too so that the client sees their organic traffic consistently increase which has led to a strong flow of organic, unpaid traffic now coming in daily.
- Content Marketing is a slow burn that you have to have consistency with in order to benefit from it. Consistency is key.
- Email is NOT dead. Email happens to be the #1 revenue producing channel in this client’s business. Facebook Messenger automation is also being leveraged to generate more leads and customers, in some cases at a lower cost per result than our other methods. Plus, as a bonus, our Facebook Messenger automation that we built out provides this client’s audience a higher level of customer support.
- We have a staggering 93.62% returning customer rate! Content keeps customers engaged and returning back to the store. As mentioned before, this is a powerful benefit of content marketing. On top of that, with our retargeting ads on various ad channels, emails, and Facebook Messenger automation, we continue to automatically lead customers back to the store to purchase more products. Leveraging automated follow up and offering sales frequently is one of the easiest ways that you can make more money from your customer base, whether you have 100, 1000, 10000, or more. Focus on the 80/20 of your audience, the 20% of your audience aka your best customers, that lead to 80% of your company’s sales. With the right processes and reporting, you can identify this and maximize the 20% of your audience.
- The online store conversion rate is 8.44%! In stark contrast, the average E-Commerce store converts at 1-3%. With an 8.44% conversion rate, we are around 400% higher than the average store’s conversion rate. The reason for this is because we have an on-going focus on optimizing conversions for every step in this client’s website.
- Landing Page Conversion
- Lead Conversion
- Add to Cart
- Initiate Checkout
- Add Payment Info
- Customer Conversion
- Repeat Customer Conversion
When you focus on optimizing your website for small and big steps in your company’s customer conversion process on your website, that’s when you start to see your overall store conversion go up. We expect to get this conversion rate even higher than 8.44% over the next few months for this client although if you type in “Shopify Standard Conversions” in Google, you’ll see that any store doing above 2.8% is a rarity and 8%+ is a staggering rarity.
- Last but not least, this client’s store has an Average Order Value of $239.59. This is one of the most important data points in your business to optimize for, especially if you want to succeed with paid advertising at scale. At scale meaning that if you are spending tens of thousands, you need a strong Average Order Value to be able to buy more customers as costs per customer rise, which naturally happens when you are buying more traffic since it happens more broadly. Another point, buying traffic is done through an auction. When you publish ads, you are bidding in an auction against other companies that are targeting the same interest, keywords, etc. so the higher that you can bid, the more traffic that you can buy. The key to bidding higher is being able to afford to.
When you have an optimal Average Order Value, you can!
If I plug in this Average Order Value into our custom ROAS Calculator that we use in Google Sheets, it tells us that we can afford a customer at $107.81. We break even at this cost per customer acquisition and that’s certainly not what we are aiming for but even if we buy customers at break even, we will make ROI on these customers because of our email strategy, retargeting ads, promotions, and more, after they’ve become a customer.
Here’s the difference…
Let’s say that the Average Order Value was only $100 with the same profit margin percentage and the same return rate. That drops the break even cost per customer benchmark down to $45 which makes it harder to compete against companies that are bidding higher because they can afford to when you can’t!
You can still get profitable results with lower budgets and ad traffic, but scaling your performance to hit 7+ figures in revenue gets much harder, near impossible, without an optimized Average Order Value on your website.
- I have an incredible team that CARES about performance. My team works constantly behind the scenes to help our clients see more ROI and growth.
- We support one another. As you can see from the image below, we collaborate on client performance several times throughout the week. In this particular image, this is one of our weekly performance huddles where we only focus on client performance challenges.
- We are constantly adapting to the ebb and flow of Online Marketing. Specifically, in this case, we had to create a new Ad Strategy after a year of success with this client. We had to adapt to the changes that were happening on Facebook in order to keep the client’s performance scaling.
What does this tell you?
- Make sure that you have a research-backed strategy with your goals in mind. Know what channels are best for different markets and how you can get them all to work in unison for the best possible ROI.
- Set up proper tracking and manage your numbers. Without proper tracking and detailed reporting, you are either wasting money, leaving money on the table, or you are getting lucky and it’s about to run out.
- Work with people that share your mission and values. Don’t allow people into your team (either hires or Agency partnerships) that aren’t consistent with these. Hire slow, fire fast.
- Support your team. Your job as a leader is to be there for your people. This is #1. In addition, at the end of the day, you are responsible for your customer’s success. In my company, I’ve worked hard to create position-based Key Performance Indicators and Expectations that are consistent with the culture that I want in my company. Client performance is a part of that. However, as the owner, I’m still responsible for our customer’s performance at the end of the day.
- Don’t get complacent. Don’t get comfortable. Stay up to date on trends and adapt to stay current. Constantly look at ways to improve performance and ROI.
Do you want to scale your company’s sales using some of our strategies and tactics that led to a $93,000 sales day for one of our clients?
We will ONLY work with you if we feel it’s a good mutual fit and that we can give you significant results, growth, and ROI.
We always start with a Marketing Performance Diagnosis with every client that’s backed by a 100% money-back satisfaction guarantee.
Basically, the risk is on us and not you to make sure that you feel that we are the right fit for you before you commit to us working in your business.
During this initial service, you’ll have your marketing challenges tackled and a research-backed plan created for clarity & focus on how to accomplish your performance goals.
Do you want extraordinary results without headaches, disappointments, and frustrations?
Do you want more time to spend on your business and the $10,000 per hour activities that MATTER most?
Do you want more time with your family, friends, and loved ones?Then, take action today. ✌️
Josh Marsden is the founder of CVO Acceleration and the author of Facebook Advertising Trends and Strategies for E-Commerce. Josh has been seen or heard in multiple media outlets, including Entrepreneurs on Fire, SuperFastBusiness, the Huffington Post, the Big Commerce Blog, and many others. Josh’s passion is helping businesses realize their full potential using Digital Marketing and Online Advertising. When he’s not helping clients, he enjoys riding his Harley Davidson motorcycle, spending time with his son Benjamin, and experiencing all that life has to offer.