Figure entrepreneur Ludovico Apollonio shares his top ecommerce tips
1. Don’t overthink it, take action and get started.
Ludovico explains that building your store could be a lot easier than you think. Platforms like Shopify are designed for non-technical experts as they usually don’t require any coding or website design skills. Some platforms also allow you to customize the look and feel of your store, as well as use apps to enhance your store’s functionality.
You can choose to sell your own products, or you can source products from other vendors and do a drop shipping model to avoid the hassle and risk of holding inventory.
2. Buy traffic.
Now that you’ve got your store set up and stocked with products, it’s time to tell the world about your new business. Before you start, it’s important to set up website tracking with the Facebook Pixel, so that you can track users on your online store. Using tools like Facebook Pixel, it will allow you to collect data about your website visitors, execute marketing strategies, and build personalized and like audiences.
It’s also important to understand what types of traffic is visiting your online store. The first type of traffic is organic traffic. “Organic traffic” refers to visitors who come to your website as a result of unpaid search results. Examples include blog posts, social media marketing, and search engine optimization.
3. Increase the average value of your order.
My next tip is to focus on the average order value. This is calculated by dividing the total revenue by the number of orders. So let’s say you have a customer who is about to buy, or just bought, a husky themed hoodie. You can present them with a second offer where you can offer more of the same, or you can present them with an offer for a similar item at a reduced price.
In my case, I would offer a second hoodie for half the price or something cheaper like a baseball cap. The main goal is to increase the average order value, which in turn will allow you to spend more money on acquiring the customer and outbid your competitors who are looking for the same type of customer.
Personally, I prefer post-buy upselling over pre-buy upselling because they don’t interfere with the shopping experience. A confused buyer is a non-buyer.
4. Use email and SMS marketing.
Now that you are starting to build a subscribers, social media subscribers, and buyers email list, it’s time to turn your email list into a powerful money making machine every month.
Ludovico finds email marketing powerful because you’ve already acquired the lead and / or customer, so you can start building powerful flows and segments to ensure you get the best open rates and deliverability. SMS marketing is also such a powerful source of traffic that you can use to target all the users who abandon your cart page.
5. Grow your business.
Once your system is in place, think big and plan your next move so you can scale your business to the moon. Remember that online there are no limits!