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DOUBLE YOUR REVENUE PREPARED FOR MAGENTO WEBINAR SERIES • PROPRIETARY PRESENTATION 1
20 Techniques to Double Your Revenue in Six Months
October 16, 2013
WITH FEATURED GUEST
DOUBLE YOUR REVENUE PREPARED FOR MAGENTO WEBINAR SERIES • PROPRIETARY PRESENTATION 2
We help great brands sell more online.
Nice to meet you.
INTRODUCTION
Hi. We’re Corra.
3
INTRODUCTION
Who We’ve Worked With
DOUBLE YOUR REVENUE PREPARED FOR MAGENTO WEBINAR SERIES • PROPRIETARY PRESENTATION
DOUBLE YOUR REVENUE PREPARED FOR MAGENTO WEBINAR SERIES • PROPRIETARY PRESENTATION 4
We help your shoppers find what they want.
When they want it.
Wherever they are looking.
Nice to meet you too.
INTRODUCTION
Hi. We’re MyBuys.
DOUBLE YOUR REVENUE PREPARED FOR MAGENTO WEBINAR SERIES • PROPRIETARY PRESENTATION 5
Specific. Actionable. Measurable.
If it’s not measurable, it’s not a goal. It’s a wish.
INTRODUCTION
Double Your Revenue
DOUBLE YOUR REVENUE PREPARED FOR MAGENTO WEBINAR SERIES • PROPRIETARY PRESENTATION 6
Traffic
Conversion
Average Order Value
Repurchase
INTRODUCTION
Double Your Revenue
DOUBLE YOUR REVENUE PREPARED FOR MAGENTO WEBINAR SERIES • PROPRIETARY PRESENTATION 7
Traffic
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Benchmark – A reference point used to
evaluate performance
TRAFFIC
Technique 1: Benchmark
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TRAFFIC
Technique 1: Benchmark
Channel Visits Orders Conversion AOV Revenue
Adwords (search) 10,000
11%
250
4.4%
2.5% $100 $25,0000
Adwords (content) 5,000
6%
100
1.8%
2.0% $100 $10,0000
Natural search 10,000
11%
250
4.4%
2.5% $100 $25,0000
Affiliates 20,000
22%
250
4.4%
1.3% $100 $25,0000
Social Media 15,000
17%
100
1.8%
0.7% $100 $10,0000
Direct Traffic 10,000
11%
2,500
44%
25.0% $100 $250,0000
Email 15,000
17%
2,100
37%
14.0% $100 $210,0000
Shopping Engine 5,000
6%
100
1.8%
2.0% $100 $10,0000
Overall 90,000 5,650 6.3% $100 $565,000
Source: www.smartinsights.com
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TRAFFIC
Technique 2: SEO Audit
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TRAFFIC
Technique 2: SEO Audit
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TRAFFIC
Technique 3: Integrate Checkout w/ Email
DOUBLE YOUR REVENUE PREPARED FOR MAGENTO WEBINAR SERIES • PROPRIETARY PRESENTATION 13
Shopper Alerts • Provides 2.5x increases in CTR
• Adds 8% to total site revenue
Email Recommendations: • Promotional, transactional, and
newsletter emails
TRAFFIC
Technique 4: Personalized Email Offerings
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TRAFFIC
Technique 5: Personalized Display Advertising
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TRAFFIC
Technique 6: Modal Popups
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TRAFFIC
Technique 6: Modal Popups
Pop-Up extension by AheadWorks
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TRAFFIC
Technique 6: Modal Popups
Checkout Acquisition Modal Acquisition
14,000
New Email
Addresses
Can you spot where SmileyCookie launched its popup?
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Conversion
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CONVERSION
Technique 7: Create Urgency
Flash Sale!
• 29% off for Leap Day
• Four hours only
• Tremendous urgency
• Email demand gen.
188 orders.
714 products.
DOUBLE YOUR REVENUE PREPARED FOR MAGENTO WEBINAR SERIES • PROPRIETARY PRESENTATION 20
CONVERSION
Technique 7: Create Urgency
Reveal Quantities
to Prompt
Conversion
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CONVERSION
Technique 8: A/B Testing
VisualWebsiteOptimizer
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CONVERSION
Technique 8: A/B Testing
And the winner is…
41%
Increase In
Conversion
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CONVERSION
Technique 9: Personalized Landing Page
35%
Increase In
Conversion
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CONVERSION
Technique 10: Optimize for Mobile
“Skinny Ties Gets a 211% Bump in Mobile Sales With Its Responsive Design Site” Internet Retailer May 2013
+77% on Desktop +211% on Mobile
DOUBLE YOUR REVENUE PREPARED FOR MAGENTO WEBINAR SERIES • PROPRIETARY PRESENTATION 25
CONVERSION
Technique 11: Optimize for Performance
1 second = 10% sales increase Amazon.com
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Average Order Value
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AVERAGE ORDER VALUE
Technique 12: Merchandizing
Home Page
2.8% uplift
Category
Pages
5% uplift
Product
Pages
4.1% uplift
DOUBLE YOUR REVENUE PREPARED FOR MAGENTO WEBINAR SERIES • PROPRIETARY PRESENTATION 28
AVERAGE ORDER VALUE
Technique 12: Merchandizing
AOV Increase of $175
Per Transaction with
Suggestive Selling
DOUBLE YOUR REVENUE PREPARED FOR MAGENTO WEBINAR SERIES • PROPRIETARY PRESENTATION 29
AVERAGE ORDER VALUE
Technique 12: Merchandizing
11%
Increase in
Conversion
55%
Increase in
AOV
18.5%
Increase in
CTR
DOUBLE YOUR REVENUE PREPARED FOR MAGENTO WEBINAR SERIES • PROPRIETARY PRESENTATION 30
AVERAGE ORDER VALUE
Technique 13: Impulse at Checkout
Impulse Purchases
Available at Checkout
Increase AOV
DOUBLE YOUR REVENUE PREPARED FOR MAGENTO WEBINAR SERIES • PROPRIETARY PRESENTATION 31
AVERAGE ORDER VALUE
Technique 14: Promotions
• % OFF
• BOGO
• Flash Sales
• Free Shipping
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Repurchase
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REPURCHASE
Technique 15: Recycle Creative
“A Valentine’s Sale!”
Clicks – 3520 Conversions – 35
“Last day to receive in time for Valentine’s Day!”
Clicks – 610 Conversions – 13
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REPURCHASE
Technique 16: Personalized Content
42
35%
Increase in
Conversion 60%
Increase in
Items
Purchased
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REPURCHASE
Technique 17: Social Email
10%
Increase in
CTR 50%
Increase in
conversion
DOUBLE YOUR REVENUE PREPARED FOR MAGENTO WEBINAR SERIES • PROPRIETARY PRESENTATION 36
REPURCHASE
Technique 18: Request Review Emails
17%
Conversion
Rate
700%
Increase in
Product
Reviews
DOUBLE YOUR REVENUE PREPARED FOR MAGENTO WEBINAR SERIES • PROPRIETARY PRESENTATION 37
REPURCHASE
Technique 19: Abandonment Email
Day 5
Day 1 – No log-in required
9% Increase in
Average
Revenue
68% Don’t Have Cart Abandonment Solutions
DOUBLE YOUR REVENUE PREPARED FOR MAGENTO WEBINAR SERIES • PROPRIETARY PRESENTATION 38
REPURCHASE
Technique 19: Abandonment Email
16X More
Abandoners
Than Cart
90% Don’t Have Site
Abandonment Emails
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REPURCHASE
Technique 20: Low Hanging Fruit
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Thank You Michael Harvey, Chief Operations Officer, Corra
michael@corra.com
www.corra.com
Tammy Wood, Business Development Manager, MyBuys
twood@mybuys.com
www.mybuys.com