One Stop Shop

One Stop Shop

By Adii PienaarBusinessTechnology
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One Stop Shop episodes

  • The best way to increase your abandoned cart recovery rate
    If Thanos did his “snap” and half of life on the whole Universe is wiped out…
    Something that also starts with the letter “s” is responsible for high abandoned cart rates.
    “Shipping fees.”
    To be exact, 55% of shoppers abandon their carts because of unexpected costs like shipping fees and taxes.
    I’m sure you already knew this, right? To increase your abandoned cart recovery rate, you can include a shipping coupon in the post-abandonment email sequence.
    And again, you already knew this: If you’d like to stand out from the crowd a little bit more, you can also include product reviews or other kinds of social proof in your email copy.
    That’s why in this week’s video, I wanted to talk to you about something that you might not have heard of before — a strategy you can use to increase your abandoned cart recovery rate effectively.
    Put yourself in the equation again. Here’s what I mean.
    11 min
  • Grow Your Ecommerce Revenue With Loss Leaders
    Loss Leader. It’s catchy enough to sound like a superhero name, isn’t it?
    It’s also ironic. After all, how can a respected word like “leader” be associated with something as negative-sounding like “loss”?
    Before you start to overthink and stress yourself out, listen to this, my young grasshopper. “Loss Leader” simply means a popular product is sold at a discount to attract customers and encourage more sales in the process.
    Confused? Just think of companies selling low-cost computer printers that need expensive ink or brands selling cheap razors with replacement blades selling for a heftier price.
    Amazon also takes advantage of it by selling the Amazon Kindle at a discounted, too-good-to-be-true price. After all, they know that by buying a Kindle, you’d also need to buy accessories and ebooks exclusively available within their brand.
    Ecommerce brands strategically use loss leaders because even though they may be selling at a loss, they’re aiming to make up for it by increasing the customer’s Average Order Value. As a result, they cover the loss and still produce profit.
    Both you and your customer win. Your customers get a great deal and you can use this strategy to grow Customer Lifetime Value. Here’s how you can get started:
    8 min
  • One Action Rule
    Imagine you’re a store-owner. I’m talking brick-and-mortar store-owner, complete with your very own space, filled with your shiny products strategically placed all over the area.
    And there’s no customer there. Only you and your slightly grumpy cashier who’s not really a fan of small talk.
    What do you do? (Besides looking for a replacement for your cashier, of course.)
    You do everything in your power to get people to come to your store. You run sales. You offer discounts. You promote your products to local media. You even do buy-one-take-one deals.
    And then something magical happened. People start coming to your store. They actually go inside the door and wait for you to talk to them.
    Owning a store offline and online are the same in this sense: once your prospects come to your store or to your website and engage with you, you can interact with them already.
    And in your case as an Ecommerce entrepreneur, once you get their email address, you have the power to reach out and talk to them directly via email.
    Do you:
    A) Panic and tell them everything all at one go -- the company’s history, your allergies, your best-selling products -- and then ask them to buy from you, subscribe to your newsletter and donate to a charity you support all at the same time?
    Or do you:
    B) Identify one goal you’d like to achieve by every interaction you’ll have with them. And then end the conversation by directing them towards fulfilling that goal?
    If you already do B (in both offline and offline interactions with your audience), give yourself a pat on the back and take a break. You deserve it.
    If you do A, though, get your favorite drink and let’s get started on this week’s video: the “one action rule” and how it can help you deliver better emails for your newsletter subscribers.
    8 min
  • Our Ecommerce wishlist for 2019
    “Wait, Adii’s talking about his Wishlist. Is it Christmas already?”
    Calm down and stay with me for a moment, okay? I’m not talking about a list of things I’d want to buy… although if you strongly insist, I’d be willing to email you my list. Send me cool stuff and I’d love to be a pseudo-influencer for you!
    Kidding aside, my Ecommerce Wishlist is a list of things I hope to see less of within our industry from today onwards. Let’s go ahead and start -- I promise you’ll find a hidden gem of positivity and help within this week’s podcast.
    10 min
  • How to increase average order value
    Give yourself a well-deserved pat on the back. Breathe in the success. And receive my heartfelt congratulations.
    You did it. After everything you’ve sacrificed, you’ve actually reached this far and gotten your first customer.
    There he is now, browsing on your website and reading product reviews. He’s clicked on several options and, oh, wait, look - he’s decided to put a product on his shopping cart! That’s so exciting...except, he’s actually chosen the cheapest product. But wait, maybe he’s going to add more? Oh, he clicked on “checkout” and he’s paying for it already.
    So, it’s good for you that you’ve finally gotten a customer. Someone actually went on your website and trusted your brand enough to do business with you.
    But what do you do to increase your revenue when majority of your customers are simply buying your cheapest product?
    You can increase the number of your customers, sure. You can also increase the repeat purchase rate and encourage your customers to buy from you over and over again.
    Finally, you can also increase the Average Order Value (AOV) and this is exactly what we’re going to cover in this week’s podcast.
    Average Order Value (AOV) is the average amount spent by your customers on each online purchase. Increasing your Ecommerce store’s AOV increases your company’s profitability. Here are five effective ways you can do this:
    9 min
  • The best way to grow in 2019: Increase Your Prices
    Remember the first time you look for an item you want to buy?
    You search for it online, you click the item & check out the high-quality pictures (zoom in and out!), then you read multiple customer reviews from people who’ve actually bought the item. Finally, after you’ve decided on the color and size you’d like, you take a deep breath, count your lucky stars and let your eyes focus on the price tag right next to the product name and picture.
    Depending on what price you see, you either hit the close button (only to come back again tomorrow) or you click on “add to cart” immediately to finalize your purchase.
    This example just goes to show how important the effect of pricing is to your customer’s purchasing decisions. Various psychology-based pricing tactics and pricing tips & tricks in several articles online add conviction to this.
    In fact, 60% of online shoppers worldwide even name pricing as the most important factor affecting online purchasing decisions!
    The way you price your products affects the profit of your product and subsequently the growth of your company over time.
    How can you do this? Here are 4 ways in which you can implement pricing management strategies that can help grow your company this 2019.
    12 min
  • How to be local and build a global business
    Nowadays, it’s so much easier to build an online business without any real borders or physical limitations.
    Do me a favor, will you? Check out the websites of the top three online brands that you love doing business with. Go to their “about” or “contact” page. And find out where their “main office” is located.
    You’ll be a little bit surprised to find out that not all of them are based in your home country, right?
    The same notion was true when we started WooThemes a couple of years ago - it was founded in Cape Town, South Africa - and yet, majority of our customers are located all over the world!
    Now, the idea of building a business from anywhere and scaling it large enough to reach worldwide sales is great, sure. On the other hand, this kind of broad thinking may cause us to miss out on helping our brands reach “the tipping point”.
    What is “the tipping point”, you ask?
    10 min
  • Learn about your customers before you automate
    I want you to be honest with me: every time you send an automated email to your customers who are subscribed to your newsletter, do you feel like you really understand who they are as a person?
    Do you know their pain points, their aspirations, their wants & needs, their dreams, their problems or the reason why they’re interested in doing business with you?
    Or are you okay with just knowing their “first name” (probably fake) or “last name” (most likely fake too) and calling it a day?
    Because you know what?
    I can tell you everything I know about automation and how to apply it in email marketing (abandoned cart recovery, upselling and cross-selling, for example).
    I can send you the tips and tricks you need to use: what kind of emails to send, what subject to include, when to send the email -- we can discuss the best practices all day long.
    Sure, I can teach you a painting technique…
    But I can’t teach you how to be Picasso.
    9 min
  • The one thing every ecommerce business needs
    Pop quiz! Quick: what’s the one thing that every ecommerce business needs?
    a. An over-the-top brand visual identity that puts Marvel’s artists to shame?
    b. Building real relationships with customers that ultimately increases their Customer Lifetime Value over time?
    c. Going the extra mile and introducing “up-selling” and “cross-selling” sales techniques in your marketing campaigns?
    d. All of the above, except a.
    e. You’ll find out soon enough.
    If you’ve answered a, maybe it’s time for you to re-watch my “Simplest Email Marketing” video? Here, I’ve talked about moving a first-time customer to a regular, repeat customer by up-selling and cross-selling to them.
    If you’ve answered d, good job. You’re nearly there.
    And if you’ve answered e, well then, looks like we have a genius within the group. Keep on reading because in just a few paragraphs, we’ll get right into unraveling this “mystery” one thing:
    10 min
  • Best way to launch a new product in 2019
    Marketing can be summed up in the phrase “Build it, and they will come”, right?
    Wrong.
    While this line may have worked in Kevin Costner’s character in Field of Dreams, it’s actually bad advice for entrepreneurs everywhere.
    Marketing your products or services to your customers is the lifeblood of your business. After all, there can’t be any business if there’s no product or service to market in the first place, right?
    So let’s take that line and revise it to “build it, market your products to your customers, use the five-step process to launch it and then your customers will come”.
    Ready to welcome a successful product launch? Here’s the five-step process that will effectively help you launch a new product this year.
    8 min

About One Stop Shop

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Anyone who's ever built a business will tell you that it's not easy, and the road is often lonely and full of doubts. Ecommerce business owners are used to figuring things out on their own, but it…