Follow This Roadmap to Maximum Profitability for Your Online StoreNov 08, 2023
Want to be more profitable?
Duh. Who doesn't?
But if you're an e-commerce store selling physical products, maintaining healthy margins is likely a top concern.
An easy way to increase both revenue AND profitability is by shifting some of your marketing resources toward owned revenue.
Owned revenue is simply revenue that is generated from a source that you own... like a contact list.
For e-commerce stores, email and sms are the biggest drivers of owned revenue.
To help you become more profitable by leaning into email and sms, I put together a fun little info graphic.
I put this together because I often see store owners wondering where to start. And often, I see them trying to start at step 3 or 4, rather than the beginning.
At the same time, some stores have made it all the way to step 2 or 3 without even realizing it... and they don't know where to go next.
Wherever you are in your journey, they graphic will help guide you to the next step so you can maximize your profitability.
Check it out.
And if you need help with any of these steps, make sure to book a free consultation to see how we can help you get maximize both revenue and profits using email and sms marketing.
Step 1: Plant
You can't grow and you'll never harvest if you don't take the first step and plant your seeds.
Similarly, you can't generate revenue from email and sms marketing if you don't collect consent from warm and hot leads.
If you're starting from scratch, or if you're not seeing an opt in rate of at least 4% on your main form, it's worth starting at Step 1 to make sure you're converting as many visitors to leads as possible.
Want help? Contact [email protected] and say "help me plant" to see how we can help.
Step 2: Grow
Once your opt in is up and collecting leads, it's time to start growing revenue. At this point, you'll likely have a small list, so you'll want to go for a solution that converts lots of new and returning customers, but that doesn't eat up all your resources.
This is when I suggest planting your money trees. AKA: Automated sales flows.
I call these money trees because you build them once and they'll continue to produce revenue daily from here on out. Very little maintenance is required, making this the perfect next step for new stores.
And if you're NOT a new store, but you aren't seeing at least 10% of your total revenue coming from your top flows, you'll want to start at this step as well. If built right, these flows will convert at the highest rate of all of your emails.
If you need help with step 2, email [email protected] and say "help me grow" to see how we can help.
Step 3: Harvest
Here's where it gets fun.
Your subscribers are joining your list and converting through your flows. As your list continues to grow, it'll become more and more valuable to you. At this point, it's time to start sending weekly campaigns.
I call these Weekly Cash Injections because every time we send one it's like an injection of cash shot right into the bank account.
You'll want to have a growing list before investing time, energy, or money here because, while this can be the most profitable step, it can also take the most resources because it requires ongoing content creation.
If you're not yet sending consistent campaigns, but you've grown your audience and have basic flows in place, I suggest taking this step.
If you need help, email [email protected] and say "help me harvest" for more info on how we can drive sales every single week via email.
Step 4: Cultivate
This step trips a lot of people up. Some store owners want to jump right here before they complete steps 1-3. Others skip this step all together!
Once you get your flows going and your campaigns running consistently, then it's time to cultivate your plants. This means cleaning out the old, unresponsive subscribers and optimizing your setup.
This is when you can start driving revenue higher and higher. Once you learn what works, you'll be able to send unlimited traffic over to your site, knowing they'll convert to leads, then to customers, then to repeat customers, over and over and over again.
If you need help with this step, send an email to [email protected] and say "help me cultivate" to see how we can help you maximize your email and sms revenue.
Best of luck!
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