Thursday, August 15

B2B Business Marketing Opportunity

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Hey guys,

"Life is a difficult game. You can win it only by retaining your birthright to be a person.ā€

ā€” A. P. J. Abdul Kalam

šŸšØ In todayā€™s newsletter šŸšØ

  • Two Tactics To Improve Your ATC to Purchase Ratio

  • Ibrahimā€™s Nuggets: 3 easy hacks to optimize your traffic

  • Top 3 Latest News: Chinaā€™s parcel delivery milestone indicates a busy e-commerce sectorand Moreā€¦

Letā€™s get into itšŸ‘‡

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Two Tactics To Improve Your ATC to Purchase Ratio

The easiest way to increase your conversion rates is to increase your add-to-cart-to-purchase ratio.

A chunk of your customers initiate checkout but leave before purchasing.

Here are 2 improvements shared by Ash in his tweet.

IBRAHIMā€™S NUGGETS

3 easy hacks to optimize your traffic

Heyy!

One question I get asked from basically every brand I know is ā€œHow can I get more value from my existing traffic?ā€ Just like you and Beyonce both have the same 24 hours in a day, your site and your biggest competitor both have the potential to convert more customersā€”it just depends how well you do at walking someone through your store. The more you do FOR your consumers, the better you will convert, but if you have the, ā€œif we build a good product, they will buy itā€ mentality, you will fail.

When you compare your Shopify storefront to the shelf at Target, thereā€™s 1 fundamental difference. In Target, to win, you must own the shelf space and shelf real estate. But online, itā€™s not about the slotting fees, itā€™s a game of who is the best at getting people to their shelf in the first place.

Unfortunately, when 3 out of 100 people who come to your store make a purchase, thatā€™s a healthy metric. Generally, the higher AOV or more ā€œout thereā€ a product is (compared to a commodity), the lower your conversion rate is. But thereā€™s ways to get around itā€¦ Iā€™m going to share my top 3 favorites below.

Improve the first-party data capture experience

Youā€™re most likely firing an email pop-up when people come to your site. Then you might also have a phone number collection option, too. The average pop-up conversion rate (CVR) is 3.2%, according to Klaviyo. Candidly, thatā€™s pretty terribleā€”you should aim for a 10% conversion rate. If you have the mindset that you can always get 1% better with your conversion rate, youā€™re going to win.

When I launched a brand in 2022 that I worked very closely with, we would optimize the email pop-up on a weekly basis as we found things that worked betterā€”better imagery, better copy, % off vs $ off vs free gift, better CTAs, even so far as adding the ability to copy the coupon code.

To take this to the next level, start using your pop-up to gather zero-party attributes (think of these as ā€œadjectivesā€ to your customer record, aka the ā€œnounā€). Youā€™ll see great examples of this on sites like Fabletics or Jones Road Beauty when the box pops up.

And if you want to take it one level further, then instead of offering something like a free product, you offer something more like a digital product as a lead magnet. Your margins on digital products areā€¦ well, they should be nearly 100%, if not totally 100%.

Other options for great digital products/offers include: FB Groups, Wallpapers (free, but you get the customer record), a 30-day fitness challenge PDF, etc. The more valuable it is, the higher your overall conversion rate will be.

Forget value-propsā€¦ speak with angles, not benefits

Stop leading your copy with value props. When clients say, ā€œOh, but weā€™ve built landing pages beforeā€¦ they didnā€™t work for us,ā€ itā€™s because the internal team that built it was drinking their own kool-aid. And when youā€™re drinking your own kool-aid, you speak in value props (itā€™s all your hear in your meetings, in internal emails, slacks, etc).

The next level is to speak in benefits, which you can figure out by answering: How would my customer describe their new purchase to a friend? 2 other easy ways to get hefty benefits for copy:

  1. What does someone say when they unbox or try the product for the first time? Think of this as the first time someone opens a box and feels the material of what they bought.

  2. What does someone say after experiencing the change in their life that the product gave them? Think of this as someone bought a cookware set or an Eight Sleep bed, and woke up the next morning without any pain.

Hereā€™s an example:

Value prop: Lundberg cakes are low-calorie, light, and easy to prepare.

Benefit: Lundberg cakes are the perfect on-the-go and zero-bloat snack when youā€™re in a rush.

Angle: Lundberg cakes are the perfect after-school snack that every mom can get behind!

As someone progresses through a web page, or a landing page, your copy can get more specific to value-props and explaining them, but when youā€™re trying to win someone over, focus more on upper-funnel-friendly copy, which are angles and benefits.

Improve the quality of your social proof.

When you go to a brandā€™s website, youā€™ll likely see a couple of sections dedicated to social proof of the brand or the efficacy of the product, itself. In the past, I had two rules to decide which types of press outlets you should feature, depending on your audience:

  1. If you have a younger audience, use publications that relate more to younger folks: Insider, Bustle, BuzzFeed, Refinery29, PopSugar, etc.

  2. If you have an older audience, use publications that relate to older folks: Town & Country, New York Times, MSNBC, Good Morning America, etc.

Thereā€™s now a third rule as it relates to putting social proof on your site: short-form video content. All of the landing pages and websites our team builds now focus heavily on short-form content ā€” it has the highest signal of trust for a site visitor. Publicationsā€¦ everyone knows they can be paid off to say what you want them to say. Customer quotesā€¦ well consumers know that you can pick and choose your favorites to display (or hide). But short-form videoā€¦ that is something that always works so well, because you can see the genuine reaction from the customer.

If you have no reviews, customer quotes, testimonials, or publisher quotes on your web pages, youā€™re already behindā€”get those live. If youā€™re lazy, you can put screenshots of iMessage conversations or Instagram story reposts as your reviews (it crushes).

Alright folks, thatā€™s it for today! Got any questions for me? Ask here.

IN THE NEWS

Have any questions that you need help with?

Ask here - and look out for Fridayā€™s Issue where Ibrahim will answer them.

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