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- Jul 5, 2020
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Congrats mate. Process->Event
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Free registration at the forum removes this block.Congrats! Must have felt pretty sweet!We did about $94k in ONE HOUR (just shy of $100k, hehe), BUT our total for the day ended up at $108,000. Check the Shopify screenshot. Feels good to get an over $100k deposit in your bank account for one day of sales!
We ran a 20% off our entire website for ONE HOUR only. We don't run promotions often, as we believe it dilutes your brand over time. We sell high dollar widgets (over $500) with lower-dollar accessory widgets that compliment the high dollar ones. So here was our strategy:
Lower unit margin, but you make sales that otherwise wouldn't have happened. A good tool to use in a surgical manner, and assuming the gross margin isn't cut to zero, the volume bump more than makes up for the lower margin. Key number is total gross profit, which can be several weeks worth of normal profits.
Generally E-commerce stores have much better margins than 20%.You're talking about sales, and you had a 20% discount on the widgets, so the question then remains of course how much that cut into your margins.
I've seen some crazy numbers from Shopify but nothing quite like this before! Sales and discounts are becoming very common for e-commerce, this is very impressive that you drove this much in sales. Congratulations on reaching that mark!I wanted to share something very cool, and very actionable for all the e-com guys here. This doesn't work if you don't have a business or an email/customer list, but it works like CRAZY if:
You don't abuse your e-mail list
You email often (value driven, you just don't hammer campaigns/sales emails out)
You don't run promotions often .
First, results.
We did about $94k in ONE HOUR (just shy of $100k, hehe), BUT our total for the day ended up at $108,000. Check the Shopify screenshot. Feels good to get an over $100k deposit in your bank account for one day of sales!
We ran a 20% off our entire website for ONE HOUR only. We don't run promotions often, as we believe it dilutes your brand over time. We sell high dollar widgets (over $500) with lower-dollar accessory widgets that compliment the high dollar ones. So here was our strategy:
We announced our intention of the sale 5 days in advance. We included calendar links in the email. We made sure to reinforce that: 1) we very, very rarely do this and 2) the sale will be honored for one hour only, so be prepared.
We excluded anyone who bought a high dollar widget in the last 6 months. If they bought a high dollar widget, we sent them a separate email campaign on 20% off all accessory, lower-priced widgets.
We emailed them 3 days before the sale with a reminder and in our weekly blog post (content) promotion spot.
We sent this to 17,269 email subscribers (some customers, some not)
We reminded them a day before the sale via email.
We reminded them again, the morning of.
We then emailed them for the sale at kick off.
We emailed them one more time at the 30 minute mark "Last Chance"
We also designed the sale around peak traffic time on Sundays (specifically a weekend so fewer people will be at work).
We offered no phone support at this time (our phone is active M-F).
We were hoping for $50k, and we blew past that! Ended up at $108,000 for the day. That's about $6.25 per email subscriber (for the e-mail marketing geeks out there).
We used Klaviyo for our email campaigns. We heavily segment our customers based on a variety of factors - so our list has already been pruned and engaged for a long time.
If you use this technique/sale, post your results!
Disclaimer: this was not my own unique idea. I got the idea from a private forum, but I wanted to share our results with you.
We are now planning to do something like this at least two times a year but no more than three times. Again, you don't want to train customers to wait for sales and discount your brand. A further note, we've been running our business for about three years, so don't expect this to work at your one-month old e-com start up.
Generally E-commerce stores have much better margins than 20%.
Imagine your product is selling for $100. Most COGS plus shipping would be around $35-$60. So selling at $80 decreases your profits by 50%. But you are still doing very well.
It’s hard to believe someone would have $80 COGS on a $100 product. That store would last long, unless it was a dropship store.
I don’t do a 20% sale but rather a buy one get something free. In the example above you can give up $20 cash or instead give them a $20 product for free that costs you $5. Same value to the customer but you make an extra $15.
Thanks, Jason for sharing this important thought about earning $100k in one hour when you have all these things that are required
This is an amazing read thanks for sharing so much insight.First, we continually write USEFUL content. Think of things like "How to" guides, location guides, and 10 Best Widget guides. Articles that are actually useful and want to be read. We do this to rank organically (SEO) and we also email these articles.
Here's an example of our weekly campaign strategy:
Key:
(OEW = Ordered Expensive Widget)
(DNOEW = Did Not Order Expensive widget)
Tuesdays: x2 campaigns sent at same time
Content: Blog campaign
x1 email sent to OWE segment
x1 email sent to DNOWE segment
Purpose: Provide value, plug different products at the bottom of the email based on purchase history.
>> i.e. DNOWE gets an Expensive Widget at bottom of email, OEW gets an accessory at bottom of email
Thursdays: x2 campaigns sent at same time
Content: Promotional campaign
x1 email sent to OEW segment
x1 email sent to DNOEW segment
Purpose: Send DNOEW an Expensive Widget, send OEW an accessory/collection
Note: Sometimes these emails are not segmented by audience i.e. new product launch, items that appeal to both audiences, etc
Sundays: x2 campaigns sent at same time
Content: Promotional campaign
x1 email sent to OEW segment
x1 email sent to DNOEW segment
Purpose: Send OEW an Expensive Widget, send DNOWE an accessory/collection
Note: Sometimes these emails are not segmented by audience i.e. new product launch, items that appeal to both audiences
This is our campaign strategy. We have a lot of other "flows" (abandoned cart, abandoned collection, started order, etc.) that also drive quite a bit of revenue
I've also attached a screenshot of our "Flows" for the past year - which also drive a lot of revenue. You can see even in simple emails (order confirmation) we aim to drive revenue from each e-mail (without being too pushy).
Hey don't knock yourself! $50k a month is a great start and you shouldn't have to worry about a job any more. Pat yourself on the back.Would you have any pointers where I can learn more about the flows? Our business at this point makes the same turnover in 2 months rather than one hour (gulp) but we are getting there. Definitely agree on don't oversaturated with sales and get creative in marketing meaningful content.
Thanks a lot of sharing!!!I wanted to share something very cool, and very actionable for all the e-com guys here. This doesn't work if you don't have a business or an email/customer list, but it works like CRAZY if:
You don't abuse your e-mail list
You email often (value driven, you just don't hammer campaigns/sales emails out)
You don't run promotions often .
First, results.
We did about $94k in ONE HOUR (just shy of $100k, hehe), BUT our total for the day ended up at $108,000. Check the Shopify screenshot. Feels good to get an over $100k deposit in your bank account for one day of sales!
We ran a 20% off our entire website for ONE HOUR only. We don't run promotions often, as we believe it dilutes your brand over time. We sell high dollar widgets (over $500) with lower-dollar accessory widgets that compliment the high dollar ones. So here was our strategy:
We announced our intention of the sale 5 days in advance. We included calendar links in the email. We made sure to reinforce that: 1) we very, very rarely do this and 2) the sale will be honored for one hour only, so be prepared.
We excluded anyone who bought a high dollar widget in the last 6 months. If they bought a high dollar widget, we sent them a separate email campaign on 20% off all accessory, lower-priced widgets.
We emailed them 3 days before the sale with a reminder and in our weekly blog post (content) promotion spot.
We sent this to 17,269 email subscribers (some customers, some not)
We reminded them a day before the sale via email.
We reminded them again, the morning of.
We then emailed them for the sale at kick off.
We emailed them one more time at the 30 minute mark "Last Chance"
We also designed the sale around peak traffic time on Sundays (specifically a weekend so fewer people will be at work).
We offered no phone support at this time (our phone is active M-F).
We were hoping for $50k, and we blew past that! Ended up at $108,000 for the day. That's about $6.25 per email subscriber (for the e-mail marketing geeks out there).
We used Klaviyo for our email campaigns. We heavily segment our customers based on a variety of factors - so our list has already been pruned and engaged for a long time.
If you use this technique/sale, post your results!
Disclaimer: this was not my own unique idea. I got the idea from a private forum, but I wanted to share our results with you.
We are now planning to do something like this at least two times a year but no more than three times. Again, you don't want to train customers to wait for sales and discount your brand. A further note, we've been running our business for about three years, so don't expect this to work at your one-month old e-com start up.
I've also attached a screenshot of our "Flows" for the past year - which also drive a lot of revenue. You can see even in simple emails (order confirmation) we aim to drive revenue from each e-mail (without being too pushy).
As for flows, are you on Klaviyo? Is your business e-commerce? Let me know and I can try and point you in the right direction.
Your comments get “liked” when you provide value, not when you beg.Someone should like my comment please
Very Nice!!!I wanted to share something very cool, and very actionable for all the e-com guys here. This doesn't work if you don't have a business or an email/customer list, but it works like CRAZY if:
You don't abuse your e-mail list
You email often (value driven, you just don't hammer campaigns/sales emails out)
You don't run promotions often .
First, results.
We did about $94k in ONE HOUR (just shy of $100k, hehe), BUT our total for the day ended up at $108,000. Check the Shopify screenshot. Feels good to get an over $100k deposit in your bank account for one day of sales!
We ran a 20% off our entire website for ONE HOUR only. We don't run promotions often, as we believe it dilutes your brand over time. We sell high dollar widgets (over $500) with lower-dollar accessory widgets that compliment the high dollar ones. So here was our strategy:
We announced our intention of the sale 5 days in advance. We included calendar links in the email. We made sure to reinforce that: 1) we very, very rarely do this and 2) the sale will be honored for one hour only, so be prepared.
We excluded anyone who bought a high dollar widget in the last 6 months. If they bought a high dollar widget, we sent them a separate email campaign on 20% off all accessory, lower-priced widgets.
We emailed them 3 days before the sale with a reminder and in our weekly blog post (content) promotion spot.
We sent this to 17,269 email subscribers (some customers, some not)
We reminded them a day before the sale via email.
We reminded them again, the morning of.
We then emailed them for the sale at kick off.
We emailed them one more time at the 30 minute mark "Last Chance"
We also designed the sale around peak traffic time on Sundays (specifically a weekend so fewer people will be at work).
We offered no phone support at this time (our phone is active M-F).
We were hoping for $50k, and we blew past that! Ended up at $108,000 for the day. That's about $6.25 per email subscriber (for the e-mail marketing geeks out there).
We used Klaviyo for our email campaigns. We heavily segment our customers based on a variety of factors - so our list has already been pruned and engaged for a long time.
If you use this technique/sale, post your results!
Disclaimer: this was not my own unique idea. I got the idea from a private forum, but I wanted to share our results with you.
We are now planning to do something like this at least two times a year but no more than three times. Again, you don't want to train customers to wait for sales and discount your brand. A further note, we've been running our business for about three years, so don't expect this to work at your one-month old e-com start up.
@JasonR, really great & practical story! What really stands out to me here is when you mention "we heavily segment our customers"...I wanted to share something very cool, and very actionable for all the e-com guys here. This doesn't work if you don't have a business or an email/customer list, but it works like CRAZY if:
You don't abuse your e-mail list
You email often (value driven, you just don't hammer campaigns/sales emails out)
You don't run promotions often .
First, results.
We did about $94k in ONE HOUR (just shy of $100k, hehe), BUT our total for the day ended up at $108,000. Check the Shopify screenshot. Feels good to get an over $100k deposit in your bank account for one day of sales!
We ran a 20% off our entire website for ONE HOUR only. We don't run promotions often, as we believe it dilutes your brand over time. We sell high dollar widgets (over $500) with lower-dollar accessory widgets that compliment the high dollar ones. So here was our strategy:
We announced our intention of the sale 5 days in advance. We included calendar links in the email. We made sure to reinforce that: 1) we very, very rarely do this and 2) the sale will be honored for one hour only, so be prepared.
We excluded anyone who bought a high dollar widget in the last 6 months. If they bought a high dollar widget, we sent them a separate email campaign on 20% off all accessory, lower-priced widgets.
We emailed them 3 days before the sale with a reminder and in our weekly blog post (content) promotion spot.
We sent this to 17,269 email subscribers (some customers, some not)
We reminded them a day before the sale via email.
We reminded them again, the morning of.
We then emailed them for the sale at kick off.
We emailed them one more time at the 30 minute mark "Last Chance"
We also designed the sale around peak traffic time on Sundays (specifically a weekend so fewer people will be at work).
We offered no phone support at this time (our phone is active M-F).
We were hoping for $50k, and we blew past that! Ended up at $108,000 for the day. That's about $6.25 per email subscriber (for the e-mail marketing geeks out there).
We used Klaviyo for our email campaigns. We heavily segment our customers based on a variety of factors - so our list has already been pruned and engaged for a long time.
If you use this technique/sale, post your results!
Disclaimer: this was not my own unique idea. I got the idea from a private forum, but I wanted to share our results with you.
We are now planning to do something like this at least two times a year but no more than three times. Again, you don't want to train customers to wait for sales and discount your brand. A further note, we've been running our business for about three years, so don't expect this to work at your one-month old e-com start up.
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