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Hey, everyone is Neil Patel. And today is another day in eCommerce Unlocked. Today we’re going to be breaking down marketing channels. I want you to keep one thing in mind as we go over today’s lesson. This course is what I would do to market my own eCommerce business if I owned one.
What you can expect is I’m going to give you a lot of excellent marketing channels that you can implement in your business.
You don’t have to do a perfect job of implementing all these marketing channels. If you just get them up and running, you’re going to see sales, and it’s better than doing nothing. I’ve bolded the main ones thatI would start doing first, from content marketing to SEO, social media marketing, email marketing, pay-per-click, package inserts, exit intent,upsells and cross-sells.
There’s all this other stuff that you could be doings well on this list and you should consider doing it. But for now, stick with the main stuff. If you do the others,doing again, something is better than nothing and it all helps. There’s also downloadable asset for you, you can find that at neilpatel.com/training, click on eCommerce Unlocked.
Go to week one, lesson three. And this will help you manage your marketing channels because there’s a lot of them, you’re not going to do them all at once. But over time, at leastyou can get through them step by step. With marketing, it’s very-important to have KPIs. KPIs are known as key performance indicators. You want to keep an eye out on these.
that’s unique visitors, conversion rates, average revenue per channel,profitability, margins. These are all important metrics, and you’ll figure out which ones are right for you. Because as you go through them,and you keep track of them, it’ll allow you to figure out, hey, this channel provides a much better KPI than this other channel. So that way you know where to focus your time and attention, your energy, your money.
I’ll dive really deep into the channels in the upcoming weeks, but in the meantime, I want to show you a few tactics that you can implement right now. One of my favorite sites is Skincare by Alana, Alana Mitchell. She runs an eight-figure-commerce business And she’s done really well through content marketing. Her consumers trust her, you can look at similar web when you type in her URL, you can see that she getsa lot of traffic from SEO.
And it’s because she has a lot of educational base content. If you go out there and you create content that teaches people howto do step-by-step stuff, they’re more likely going to read your website and buy from you. So Alana here, sell skincare based products. If she talks about her nighttime routine to avoid wrinkles, or how to put on makeup right, or how to avoid acne when you’re putting on makeup, or how to get rid of acne caused by makeup.
These are all things that people may have questions about, they’ll find her content,she answers them, and she even plugs in her products whenever it makes sense,and it helps drive sales. She also does a lot of live video with her content, it’s not just text based. So we’re putting live content up on Instagram, YouTube, all the social sites out there.
She’s building a great rapport with her community. She’s being consistent, so that way she can alsobe seen as an expert. She repurposed the content, and she uses a lot of live video to convert people into buyers as well. Instagram marketing is another channel that I mentioned, it’s huge for e-commerce. So is Snapchat. If you end up putting a lot of products out on e-commerce, you can generate quite a bit of sales.
Email marketing, it’s one of my favorite channels for different businesses it’s going to vary, but for many of them like Skincare by Alana, email marketing has an average ROI of $30 for every $1 spent,just think about that. You can generate $30 for every $1 spent. Even though emails aren’t sexy, they convert and they drive sales.
Another approach is upsells. Remember when you go to McDonald’s, or if you haven’t been, just think about when you’re a kid, they always ask you, do you want to toy with that? Do you want to supersize that? Those are all examples of upsells. The right way of doing it is having two upsells landowners at checkout, the first upsell should be a higher price, and the second one should be 2/3 the price, and it should be a complementary product.
Now, let’s go over the math just so you can understand the power of up selling. It’s both the same product, let’s say you have 500 orders a day. And I know that’s a large amount, but it’s not that large for some companies. So if you have 500 orders a day, and your average order islet’s say $65 for the product. If you have an upsell for $55, andyou only get 5% of people who take it, that’s 25 people who buy, that’s roughly $1,375 in revenue.
On the flip side, if you fine tune your upsell and you sell for the same $55 price point, but now you get 15% of the people buy it, that’s 75 upsells a day. That’s $4,125. The difference is $2,750 a day. That’s the power of having really good upsell. A few more proven examples that I love, inserts. You’re sending people a product, make sure you’re putting inserts that promote other products that you also have to offer.
It’s a great way to keep getting people to come back and buy more from you. It’s easier to get someone who’s already bought from you to spend more money than iris to get new purchasers.
Another tactic is by using lead magnets, exit intents, with one of my old sites, Nutrition Secrets, when we’re selling supplements, we did a quiz at the very end that would break down how people can end up losing weight and then sending them the right product that was great for them.
Here’s one that I use for my website. And remember e-commerce, many of you could reselling services as well. I would have people go into a cheat sheet, get in their name and email. And then from there, sell them my services over email.
If I’m selling a product,I can offer coupons, or let’s say if I’m Skincare by Alana, I can offer a guy that teaches people how to reduce their wrinkles, or improve their skin complexion. And then I can sell them products and services related to that over email as well.
When people go to your e-commerce site, you’re going to lose a lot of people from not checking out, right? So they’re going to bounce or abandon cart, as they call it. I want you to get those people to subscribe through browser notifications, you can do that through subscribers.com. You want to do a push, and depending on the industry, you can see roughly a 6% click through rate. You can get those people back to add products to their cart, you can get them to continue the purchase or even after they buy from you, you can drip them with more products or services to buy.
It’s a really simple way to generate sales in addition to email marketing. Most successful e-commerce businesses deploy sales channels, plus marketing channels to maximize their revenue. By doing both, that’s how you can do well. And here are a few movers and shakers in the e-commerce space. American Eagle, 4.3 billion in revenue, that’s a lot.
Birchbox, over 200 million,and this is subscription based. Subscriptions are another way to get consistent revenue and you should consider them. Dollar Shave Club also did really well with that, over $200 million a year selling razors, very smart business model.
Here’s Leesa, Leesa,95 million in revenue. And look, whether it’s through mattresses or whatnot, you can literally sell anything online that you sell offline and do well. The question is, are you going to follow all the steps in eCommerce Unlocked so you can get the results? So the next step I have for you is go to neilpatel.com/training, and click on eCommerce Unlocked.
Make sure you go to week one, video three if you’re already not there. And underneath that video, you’ll see the Marketing Channel Quick start Cheat Sheet make sure you download that and download the P&L Tracker Spreadsheet. These two worksheets will help you keep track of everything you’re doing and making sure that you’re going to get the results.
Next week, I’m going to goover SEO and content marketing. Then I’m going to also go over how to build product pages that convert and rank in the long run.
Thank you for your time. I look forward to helping you get loved by the web, whether it’s Facebook, Google, and getting your e-commerce business more sales. Thank you for watching.