Savvy marketers will calculate their Customer Acquisition Cost (CAC) to make sure they are acquiring customers cheaply enough to turn a profit. Most of that goes towards upfront costs like advertising or paid deals, leaving very little to actually retain a customer. Which is silly because retaining the customer will boost how much they spend …
Tag: customer acquisition
Spend more on retaining your existing customers
Many stores spend a lot of resources on customer acquisition. How much does it cost on average? What about an online store customer vs POS vs Facebook? Does it increase over time or stay within a band of costs? But acquisition costs are only part of the picture. You’ll want to look past the first …
How customer behavior in one sales channel can impact your other channels
Where a customer first buys matters a lot. If a customer buys in-store while you were running a closeout sale, that’s different than if they bought online during the same sale. The sale probably attracted both customers, one to walk-in and one to click. The in-person customer would had have to be physically in your …
The first purchase matters
How a customer first purchases from your store matters. If they came in from a friend’s referral, they’ll likely trust your store and have a positive experience. Even if small things don’t go right. If they clicked on an ad that interrupted their free time, they’re likely to have missed some things (e.g. shipping policies) and …
Four marketing assets your Shopify store should have to perform optimally
When it comes to marketing your Shopify store, you should have at least 4 assets in place: A stable free/low-cost traffic source. An additional traffic source that is under development to become profitable or scale. Simple email list that you contact all subscribers at least once per month. A series of emails or phone calls …
Do you know where your Shopify store sales actually come from?
Sometimes I’ll hear stories about a new marketing channel and how amazing it is, but then there’s no sales data to back it up. It just "feels" good (read: fun to use). It’s similar to how much social media is talked up as an email marketing disruptor, but then (not) surprisingly when you look at …
Analyze which Shopify sales channels produce your best repeat customers
I’ve been hinting at a new feature in the works for Repeat Customer Insights for awhile now. It’s finally released… A major influence in customer behavior is how they were acquired. A customer who learned about you from a close friend is going to behave vastly different than one who saw your ad while scrolling …
How Repeat Customer Insights tracks your customer acquisition sources in Shopify
Repeat Customer Insights now tracks how a customer was acquired. This article will explain how it translates Shopify’s data into a useful filter. First order sources Every order in Shopify includes the order’s source. On some orders it’s a name like pos or web but others it’s just a number like 346542. This data is …
When Facebook goes down, does it drag your Shopify store down with it?
It’s important to attract customers using more than one marketing channel. In March 2019 the entire Internet saw Facebook suffer an outage. This also took down Shopify’s Facebook, Messenger, and Instagram sales channels, effectively stopping any traffic and sales from them. If that was the only marketing channel you used, you probably had a horrible …
Co-marketing during the slow periods to boost traffic and sales
Yesterday I went out to lunch to a local food cart pod. (Food carts are a big thing here in Portland) Normally during the middle of winter, their business slows overall but some still stay busy due to the foods they offer. This week two of the carts joined forces and were offering a joint …