Echecks, Shopify & other shopping carts, payment processors, gateways, etc. Discuss how to improve conversions, reduce abandoned carts and how to recover sales from within your cart, etc.

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#1372845 by George from Prestea
Fri Jun 02, 2017 9:11 pm
Just popping in here to add that....

Another thing we've started testing recently is retargeting ads. This allows us to essentially stalk people who abandoned their carts -- following them everywhere they go on the web with ads enticing them to return to the site and buy.

This can appear very spooky to people; but as marketers, it's been very effective for us.
#1372847 by Tobias & Stephanie from Hardyville
Fri Jun 02, 2017 9:34 pm
What are your results with remarketing so far? We tested facebook retargeting ads and got break-even ROI. Thing that surprised me was the low volume. For a product that sells several $100 / mo, our ad spend was only about $15 / mo to retarget as many people as possible, and we'd make back just that $15 in extra sales. We also tried Adwords remarketing. It was easier to spend money (we could reach more people, get more clicks) but it didn't generate a single extra sale for us.

Tobias
#1372924 by George from Prestea
Sat Jun 03, 2017 7:52 pm
I don't have stats for our retargeting right now, but the typical ROI of our ads is 5x-10x for the entire funnel (not just retargeting). So for every dollar we spend, we get $5 - $10 back.

There's been a lot of hurly-burly here in the forums recently, and I don't want to stir the waters any further. All I'll say is you can't achieve this kind of results with a "tortoise" mentality. You need a "hare" mentality, but must remain on guard constantly to ensure the hare does not sleep :D

Here are a couple of things I do differently (from SBI's beloved CTPM model), and coach my clients to do as well:

1) We don't play the articles, SEO, and organic traffic game, at least not at the beginning. Our modus operandi is to find a need in the marketplace, develop a product that fills this need, and push paid traffic to the product. Sure, it takes substantial upfront investment... but, to a large extent, you're in control of your own destiny... instead of praying for Google to throw some love at you. Plus, you don't have to wait for 6 months to a year to start to see results. (Ironically, after six months or so we start to see good organic traffic -- traffic that we didn't actively seek with keyword and SEO voodoo).

2) We push tons of traffic via ads. Our typical ad budget is in the thousands per month (one coaching client of mine does over 10k per month ad spend, with very good ROI).

3) We split-test EVERYTHING: headlines, subheadlines, page text, buttons, shapes, colors, images, page layout, ad placement, traffic sources, offers, etc. Russel Brunson's book "108 Proven Split Test Winners!" has been an invaluable resource (https://dotcomsecretslabs.com - free, you pay for shipping. NOT an affiliate link)

4) Our ads go to a sales funnel with a series of products behind it, instead of a single product or store. We typically break even with the front end product. The profit is in the upsells and downsells, and the on-going sales (our own ascension plan and affiliate offers). The money is truly in the list.

5) The idea of an ascension plan, something I learned from marketing legend Dan Kennedy, is to carefully design a path for your clients to ascend your value chain (by offering them higher- and higher-priced products). An example ascension path might look like: Book => online course or 6-12-week group coaching => continuity program (membership) => 1-on-1 coaching / consulting.
#1373063 by Tobias & Stephanie from Hardyville
Mon Jun 05, 2017 7:30 pm
Hi George,

Thanks for sharing a bit about the way that you do things. I started out with SBI thinking that there was "one true way" to do online business, but I've come to see that there are many ways to build a profitable business.

I think the process you described makes a lot of sense. If you use paid ads, then the name of the game is how to maximise the LTV of each visitor, so that you get positive ROI on your ad spend. For SEO, each visitor is "cheaper" to acquire (although maybe not if you count the cost of your time writing content), so you can get away with a lower LTV.

Can you give me an example of a website that uses the strategy that you outlined?

Tobias

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