- 0:00
[MUSIC PLAYING] COREY FERREIRA: Welcome to doubling and tripling sales without more traffic. My name is Corey Ferreira and I'll be presenting this course. I'm a content creator at Shopify and passionate entrepreneur. I love business and as a business owner I know the highs of success and the lows of failure. For months, my business was growing and it felt amazing. Sales were improving every month and customers were buying more and more, eventually though my business hit a wall.
- 0:33
It just wasn't growing anymore, it was frustrating. No matter what I tried or how much money I threw my business, nothing worked. I nearly gave up but it wasn't until I finally had a breakthrough that I started to see growth in my business again. After trying nearly everything, it was realizing that having the right system in place was extremely important. You'd likely experience the excitement of a growing business and the frustration of a stagnant one.
- 1:00
Maybe you're even feeling that frustration right now. Breaking through that wall and frustration is fixed with more sales. When you think more sales, you might think more traffic. Logically, one might think that doubling the traffic to the store might double their sales. However, when we're thinking about a sales strategy and doubling or even tripling our revenue the easiest and best approach is to take what you're already getting and ensuring you're optimizing it to its fullest potential.
- 1:29
In this course I have to teach you just that. I will go over how to correctly audit your store and e-commerce sales funnel, how to adopt a conversion mindset, how to use quantitative and qualitative data to help you double or even triple your sales, how to increase average order value and conversions, and how to take action and implement everything we learned.
- 1:52
Before we begin, it's important to develop a conversion mindset as a business owner and marketer. That's why we're going to follow a system whenever we run a test or experiment to increase sales. Here is each phase of the system we'll be following. Step one, exploration, step 2, hypothesis, 3, implementation, 4, evaluation, and 5, scale. In exploration we're looking to determine how our customers buy in general, how they buy on our store, how they use our website, and what the buying process entail.
- 2:25
Looking at your store's data and auditing your sales funnel might bring up opportunities that you never knew existed despite how big your business already is. The next phase is hypotheses. This is where we use our data and our customers shopping habits and come up with an educated guess. Once we have an educated guess, we can implement it as an experiment. After accumulating enough data during this experiment, we then look at what we've learned and scale it if possible.
- 2:51
Here's an example of a system in action. In the exploration phase we look at our quantitative data to determine 70% of our traffic is mobile. We also noticed that the mobile responsive version of our store isn't as easy to use as a desktop version. The Add to Cart button is buried on the mobile version of the product pages and accessing the cart is clumsy on our mobile version of our store since the navigation is hidden.
- 3:15
Since a majority of our store's traffic is mobile, we need come up with a hypothesis that says, moving the Add to Cart button to the top of the product pages and sticking a clickable cart icon to the top of each page will increase conversions on mobile devices. The next step would be to implement these design changes, monitor conversions on mobile for a period of time, evaluate the results, and then determine whether or not to keep the design changes and scale the learnings from the result or improve on the changes.
- 3:44
This is just a small example of what one experiment might look like and how we use all the phases of our optimization system to increase our sales. Before we do anything, we want to audit our store and e-commerce sales funnel. Part of increasing sales is working to increase your store's average order value as well. There are likely areas in your e-commerce funnel such as on the Thank You page or follow up email where you can upsell, downsell, and bundling more products.
- 4:10
So not only are we looking to get customers to buy, we want them to buy more. Let's back up a bit. Let's audit our store and take a look at our current e-commerce sales funnel. We're starting in the exploration phase of our system. By looking at our store and taking a look at every step of our current e-commerce sales funnel, we can begin to understand the average customer's journey. We'll also use quantitative and qualitative data later on to learn more about how our customers buy, what they like buying on our store, and why.
- 4:45
Begin by mapping out your store's entire funnel. This gives you a big picture look at what's really going on and also allows you to start to see areas where you can either improve the funnel or remove unnecessary complexity completely. Here is an example of a store's mapped out funnel from when the lands on the site to when the customer completes the purchase. Of course your store might have several different funnels since you might be selling on several different channels such as Amazon or Facebook.
- 5:14
Now we can begin to see how many pages our customers need to navigate through before completing their purchase. Mapping out our funnel also reveals where there is room for improvement. Either by including places to try to increase the average order value such as with an upsell or by removing complexity and making it easier for customers to buy from our store. On each page there might be an opportunity to improve either the design, copy, images, usability, trust, or user experience.
- 5:44
Essentially, every page to the funnel should either work to encourage the customer to buy or encourage the customer to buy more. If the page doesn't work to achieve either of these, we should consider removing the page or changing it. Even seemingly mundane pages such as a Thank you page at the end of a checkout could encourage customers to buy more by either making an offer for another product or by asking them to share the purchase with their friends.
- 6:10
Besides the pages in the funnel itself, there are other pieces that help guide our customers to a purchase such as abandoning cart emails and retargeting ads. It's a good idea to revisit these pieces especially if they haven't been changed in a very long time. Even if many of these pieces are working well already, it's almost always possible to make them work even better and increase revenue.
- 6:35
In the next lesson, we're going to talk about quantitative data, how to use it and show an example of using quantitative data to find a starting point for experiments. [MUSIC PLAYING]