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Brisbane Shopify Meetup - 19th April 2018
- 1. BRISBANE SHOPIFY MEETUP BRISBANE MEETUP Thursday 19th April 2018 #ShopifyMeetup
- 3. #ShopifyMeetup WhoisAttendingthisShopifyMeetup? Over 200 people on the guest list. 19% 3% 12% 63% 3% I am a freelance or agency professional working with clients I am an app developer I am thinking of starting a business on Shopify I currently have a store on Shopify No answer
- 4. #ShopifyMeetup AbouttheHosts Reload Media is a Shopify Experts agency, having worked with dozens of Shopify and Shopify Plus sites on all facets of their digital marketing, including Google AdWords, SEO, Pay Per Click, Social Media and more.
- 5. #ShopifyMeetup AbouttheEventSponsor Creatively Squared connects brands with talented creatives to produce original, authentic visual content. Their system carefully aligns visual aesthetics, capabilities and core values to find the perfect creative talent for your brand. 17,000+ creatives | From 130+ countries | Producing content in 7 countries Find out more: www.creativelysquared.com
- 6. #ShopifyMeetup AbouttheDrinksSponsor dotmailer is a marketing automation platform with email at its core. Since 1999, they’ve been empowering global marketers with the tools and services that make it easy to get outstanding results. 150+ countries use dotmailer, with 70,000+ customers and 200+ employees. Find out more: www.dotmailer.com
- 7. #ShopifyMeetup AbouttheDrinksSponsor zipPay allows your customers to buy now and pay later on their own terms. By adding their love it, have it, pay later messaging in your customer journey, including product pages, you'll see on average, an increase in conversion of 20% and increased order size of 35%. Empower your customers with an "always interest free digital wallet" today by offering zip at checkout online and instore. Find out more: www.zippay.com.au
- 8. #ShopifyMeetup Tonight’sSpeakers Our speakers and panel for tonight are: Ruth Stephensen Creatively Squared Philip Scarff Petal and Pup Ben Robinson Shopify
- 9. #ShopifyMeetup Ruth Stephensen Creatively Squared
- 38. #ShopifyMeetup Philip Scarff Petal and Pup
- 40. Who We Are Our Journey So Far Learning’s and Take Away
- 41. Who We Are Tiffany – Entrepreneur and P & P Owner Philip – Chief Executive Officer Julian – Chief Operating Officer Robyn – H.R. Manager
- 42. Who We Are Tiffany Started P & P in July 2014 Brisbane Based Online Women’s Fashion Boutique Latest Styles at Affordable Prices Happy Customers
- 43. Key Take Outs
- 44. The 80/20 Rule - Keep Things Simple – Don’t Over Complicate Recognise What You Are Good At and What You Aren’t Don’t Try and Be Everything to Everyone Set Yourself Some Goals and Targets and Measure Them Sales Targets Repeat Shoppers Data Base Social Media Following
- 45. Starting Off Don’t Expect to Much to Start You Will Need To Invest Today to Build a Business for the Future Pay As You Go Understand What Gross Profit Margin You Will Need to Build a Sustainable and Profitable Business
- 46. Gross Profit Margin is Different to Mark Up Buy for $10 and sell $25 The Gross Profit Margin Calculation 10 divided by 25 = .40 100 minus 40 = 60% Gross Profit Margin You Will Most Likely Need an Average 50% Gross Margin Across Your Range
- 47. Think in % Terms % $ $ $ Annual Sales 100% 100,000.00 500,000.00 1,000,000.00 Gross Profit 50% 50,000.00 250,000.00 500,000.00 Less Expenses Advertising 7.5% 7,500.00 37,500.00 75,000.00 Shipping (Nett) 5.0% 5,000.00 25,000.00 50,000.00 Payment Gateways 4.0% 4,000.00 20,000.00 40,000.00 Rent 2.0% 2,000.00 10,000.00 20,000.00 Wages 10.0% 5,000.00 50,000.00 100,000.00 Electricity, Phone, Internet etc. 2.5% 2,500.00 12,500.00 25,000.00 Accountants, Insurance, Banking etc. 3.0% 3,000.00 15,000.00 30,000.00 Miscellaneous 2.5% 2,500.00 12,500.00 25,000.00 Nett Profit Before 13.5% $13,500.00 $67,500.00 $135,000.00
- 48. Think in % Terms % $ $ $ Annual Sales 100% 100,000.00 500,000.00 1,000,000.00 Gross Profit 50% 50,000.00 250,000.00 500,000.00 Less Expenses Advertising 7.5% 7,500.00 37,500.00 75,000.00 Shipping (Nett) 5.0% 5,000.00 25,000.00 50,000.00 Payment Gateways 4.0% 4,000.00 20,000.00 40,000.00 Rent 2.0% 2,000.00 10,000.00 20,000.00 Wages 10.0% 5,000.00 50,000.00 100,000.00 Electricity, Phone, Internet etc. 2.5% 2,500.00 12,500.00 25,000.00 Accountants, Insurance, Banking etc. 3.0% 3,000.00 15,000.00 30,000.00 Miscellaneous 2.5% 2,500.00 12,500.00 25,000.00 Nett Profit Before 13.5% $13,500.00 $67,500.00 $135,000.00
- 51. Customer Loyalty The value, psychology and mechanics of customer loyalty programs.
- 52. Loyalty programs increase customer lifetime value. Loyalty programs decrease customer acquisition costs. Loyalty programs increase your recurring revenue.
- 53. 1.7million Australian Users 66% Women Stocard Loyalty App Users https://internetretailing.com.au/most-popular-australian-loyalty-programs-revealed/
- 54. Before considering a loyalty program and your membership tiers, you must consider why someone would join it in the first place, right? A few questions to ask yourself: ● What’s the benefit? ● What emotions are you stimulating? ● What motivates people to sign up? ● How much effort will signing up for your loyalty program take? This requires a bit of digging and really knowing your customers; specifically knowing what motivates them. “Why Should Someone Join My Loyalty Program?”
- 55. If something is easy to do, even with low motivation, it doesn’t take much for someone to take action.
- 56. Keep track of customer preferences to build a loyalty program they’ll adore and in turn, tell their tribes about.”
- 57. 1. Keep detailed records on your customers. 2. Take action on what you know about them. With Shopify’s Customer Accounts, you keep your own “index cards” — an individual record of each customer — along with their: ● Shipping Preferences ● Birthday ● Lifetime Value ● Order History Understanding commonalities between your most frequent / highest spending customers will prove a valuable source of information to help shape your program. “What kind of preferences and info?”
- 58. Loyalty Fundamentals: Points, Referrals and Segmentation.
- 59. Bonus Points Events Move merchandise during slower sales cycles, holding exclusive “members only” double or triple points days.
- 60. Referral Bonuses When loyal customers are really into your brand, there’s a strong likelihood they’ve already talked about you with the people closest to them. Easy Input Highlight Value
- 61. Gamify the Customer Experience 92% of consumers describe their loyalty participation as either ‘fun’, or ‘economical’. ● Buy a product - earn points ● Leave a review - earn points ● Create an account - earn points ● Read content - earn points ● Follow a social channel - earn points
- 62. General Loyalty ● Smile.io (formerly Sweet Tooth) ● Swell ● LoyaltyLion Referral Marketing ● Talkable ● ReferralCandy Reviews ● PowerReviews ● Yotpo Loyalty Technology and Partnership Stack
- 63. Thanks, and Good Luck!
- 65. #ShopifyMeetup Tonight’sSpeakers Our speakers and panel for tonight were: Ruth Stephensen Creatively Squared Philip Scarff Petal and Pup Ben Robinson Shopify
- 66. #ShopifyMeetup StayinTouch! To stay in the loop for future Brisbane Shopify Meetup events, you can: o Join the “Brisbane Shopify Meetup” group on Meetup.com o Follow the Reload Media twitter account @reload_media o If you registered for tonight, we’ll email you when the next one is on. Our next event will be on Thursday 26th July 2018.