Better later than never right? Here is a quick recap of notes from WooCommerce Conference 2016 Day 2 the afternoon sessions. Lots of great tidbits of information here, take a quick scan through we are sure you will walk away with at least a few a ha moments. And don’t worry we will be summarizing this all in one nice short and sweet blog post very soon. In the mean time enjoy!
Value Metrics for new stores – @Beka_Rice from SkyVerge
- Conversion Rate is like a batting average for your store
- New stores don’t have enough data points to measure enough to optimize your conversions
- If you have less than 1k transactions per month, it’s probably too early for you to split-test. Your dataset has not reached data significance yet.
- So what metric are important when you’re starting out? (that don’t rely on number of orders)
- Average Order Value (AOV)
- How to increase revenue:
- Get more total customers (traffic)
- Get existing customers to buy again
- Convert existing visitors better (increase conversion rate)
- Make more money on the order you get (increase AOV)
- How to find AOV? (Sales by Date in analytics)
- Total sales / total order = AOV (average order value)
- Now you can best know how to:
- Set free shipping thresholds
- Offer discounts above AOV (see swwp.co/y)
- Set free shipping thresholds
- How to increase revenue:
- Average Order Profit: (Total revenue – order costs) / total orders
- Customer Acquisition Cost = total marketing spend / new customers
- How to find new customers? Look at “new orders” (but also has repeat customers), OR install SkyVerge’s plugin that shows you report of new customers (compares billing emails)
- Analysis Paralysis – you don’t have to track every single metric at once. Improve a few metrics, then move on to others.
Benefits of Multi-Channel Selling – @jakegasaway from Stitch Labs
- 10% of ALL sales happen online (90% are still brick & mortar)
- Shopping cart store + 1 other marketplace: 38% increase in sales
- Shopping cart store + 2 other marketplaces: 120% increase in sales
- Amazon has not taken over Google with where people to go search for shop
- What to watch out for:
- Order volume goes up in an added marketplace
- Average order value goes down in an added marketplace
- Where should I start?
- Test, then strategize
How to Elevate Brands with their unique Voice – Kandace Brigleb
- Your online presence either builds your brand or defines you as a commodity
- How to get your authentic brand voice into your WooCommerce shop
- Brand assets (look at what you already have images, videos, etc and get it on your site)
- Use the Power of WordPress – to tell your story
- Customize the experience to match your brand (language)
- Trust your Gut – what feels right? You know your brand better than anyone else
- People are loyal to brands, not products. Your website needs to be an articulation of your brand.
Using User Generated Content to Boost Sales – Shayla Price
- Reviews, tweets, blog posts, social media, etc
- 3 benefits of UGC: valuable feedback, brand advocacy, cost savings
- Example: Go Pro – video of the day, asks customers to share videos and they share one each day on their site & youtube channel
- Campaign planning:
- Target people’s passions
- Create a catchy hashtag (not long; easy to remember)
- Promote heavily (on your email list, social media accounts, and website)
- Invitational Emails: automatically send customers “would you like to reivew this product?” After they purchase
- Path to Sales
- Product Pages (put UGC right on the product page about that product)
- Curated Content Hubs
- Community Q&A Forums
- User review discounts – plugin for WC that gives customers a discount coupon code after they complete a review
Stop Selling. Start Helping. – @matthew_j_white
- Ie: free recipe with every purchase (added value!)
- Try to see things from your customers’ perspectives: Would you rather be “helped” or be “sold”?
- 85% of top websites, they are selling to you before they even get to know you.
- Bottom line: just be useful to your customers.
Improving Customer Interactions – @WooMindy
- When a customer talks to you, they want to be sure you’re listening
- Store Owners: Ask for feedback (ie: surveys) Maximize results (avoid Thurs & Sun for surveys, send to loyal audience, keep it short & sweet) Be sure to listen to the results.
- Developers: Create and maintain an ideas board (where customers can suggest new ideas)
- Designers: Acknowledge customers and educate them
Support Reps: validation as a tool to defuse angry customers
Word of Mouth Marketing with Andy Sernovitz
- Giving people a reason to talk about your stuff
- Making it easier for that conversation to take place
- Love & Money do NOT mix (never *pay* people to share your story, etc)
- The 5 T’s:
- Talkers: Find People Who Talk
- Topics: Give Something to Say
- Tools: Help It Spread
- Take Part: Join the conversation
- Tracking: Measure & listen
- Advertising is the Cost of being Born
