eCommerce: What’s working now… The top strategies and hacks to instantly increase revenue and profits overnight
Dim Niko – Founder of EPOCH Agency
This talk was given by Dim Niko, founder of EPOCH Agency.
eCommerce is a big industry and there is a lot of money to be had, if you know what to do. However, what are the best strategies that you can use to instantly increase profits overnight?
It is import to understand where internet marketing is going. It is no longer a game of direct to offer ads and media buying especially with the ever increasing efficiencies of AI (artificial intelligence). We are quickly seeing the return on investments from these types of marketing getting closer to break even. Therefore, going into the future we need to focus on creative strategic driven marketing strategies.
Media buying is very experience and intuition based. This can make it difficult for beginners in the eCommerce world. However, with a simple flow chart you can easily solve all of your campaign issues in 60 seconds or less. First, you need to ask yourself if your last ad was profitable. If it was, then begin scaling. However, if it wasn’t you first need to look at CPC. If you had a high CTR than your problem is a high CPM. You can fix this by manual bidding or changing your audience. If your CTR is low, then you need to focus on making better content or focusing your content on the right audience. On the other side, if your CPC is low, you have other issues. In this case if your CTR is high, your ad is relevant but might not be congruent. However, if your CRT is low, then you need to work on your creative content.
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In addition, there are 3 apps that can instantly increase your conversion rate. The first one is Loox. This app makes your page look much more personal by populating your pages with user generated content including things such as reviews and pictures. The second one is SMS Marketing. This allows you to take advantage of a highly underrated form of marketing, text messages. The third one is Checkout Conversion Pirate. This app takes Shopify’s standard simple checkout menu and adds a bunch of other useful pieces of information.
Lastly, it is important to understand Influencers. They are extremely undervalued and can provide a lot of great trusted traffic for low prices. However, what are Facebook Influencers? Quite simply they are content that advertises your product. If you build strong relationships with them, you can have access to their loyal audiences.