2 "MUST KNOW" NUMBERS IN YOUR DROPSHIPPING BUSINESS!
Published on: November 28 2022 by Peter Pru - Ecommerce Empire Builders
2 "MUST KNOW" NUMBERS IN YOUR DROPSHIPPING BUSINESS!
Table of Contents
2 "MUST KNOW" NUMBERS IN YOUR DROPSHIPPING BUSINESS!
| startTime | durationTime | text |
| 00:00:00 | 00:00:05 | what metrics what key performance |
| 00:00:02 | 00:00:09 | indicators KPIs should you be focusing |
| 00:00:05 | 00:00:09 | on in your e-commerce business |
| 00:00:10 | 00:00:15 | what is up Empire builders welcome back |
| 00:00:13 | 00:00:17 | to another episode of your brand new to |
| 00:00:15 | 00:00:19 | the Empire Builder family first and |
| 00:00:17 | 00:00:22 | foremost welcome please like comment |
| 00:00:19 | 00:00:24 | subscribe turn a notification bottle |
| 00:00:22 | 00:00:26 | down below as new e-commerce related |
| 00:00:24 | 00:00:29 | videos are released every single day and |
| 00:00:26 | 00:00:30 | check all the free resources and bonuses |
| 00:00:29 | 00:00:32 | down in the description of this video |
| 00:00:30 | 00:00:34 | that's going to help you build your |
| 00:00:32 | 00:00:35 | ecommerce empire but guys today we're |
| 00:00:34 | 00:00:38 | going to be toking about a question |
| 00:00:35 | 00:00:41 | that I got recently got asked is what |
| 00:00:38 | 00:00:44 | metrics what key performance indicators |
| 00:00:41 | 00:00:47 | KPIs should you be focusing on in your |
| 00:00:44 | 00:00:50 | e-commerce business now why are KPIs key |
| 00:00:47 | 00:00:52 | performance indicators any kind of |
| 00:00:50 | 00:00:55 | metrics important to your business well |
| 00:00:52 | 00:00:57 | be guys guys your numbers are the |
| 00:00:55 | 00:00:58 | lifeblood of your business right and you |
| 00:00:57 | 00:01:01 | probably already know this but most |
| 00:00:58 | 00:01:03 | people they don't give their numbers |
| 00:01:01 | 00:01:05 | enough attention okay and when I say |
| 00:01:03 | 00:01:08 | giving your numbers attention that means |
| 00:01:05 | 00:01:11 | knowing your numbers every single day so |
| 00:01:08 | 00:01:12 | for example and in today's video what |
| 00:01:11 | 00:01:15 | we're going to be toking about is |
| 00:01:12 | 00:01:17 | really the two numbers that you really |
| 00:01:15 | 00:01:20 | need to care about be first and foremost |
| 00:01:17 | 00:01:22 | okay there's not there's a ton of KPIs |
| 00:01:20 | 00:01:24 | you know cost per clicks right there's |
| 00:01:22 | 00:01:27 | CPMs there's there's just so many |
| 00:01:24 | 00:01:29 | metrics that you can track inside of |
| 00:01:27 | 00:01:31 | your inside of your business and they're |
| 00:01:29 | 00:01:32 | all important they all serve their |
| 00:01:31 | 00:01:35 | purpose but there are two that I think |
| 00:01:32 | 00:01:37 | most people just beat if you just focus |
| 00:01:35 | 00:01:38 | on these two you're usually going to be |
| 00:01:37 | 00:01:41 | making money and you're going to be more |
| 00:01:38 | 00:01:42 | profitable in your business okay now to |
| 00:01:41 | 00:01:44 | cut right to the chase the two key |
| 00:01:42 | 00:01:46 | performance indicators that I think |
| 00:01:44 | 00:01:48 | every one of you needs to be paying |
| 00:01:46 | 00:01:50 | attention to every single day and |
| 00:01:48 | 00:01:53 | watching it like a hawk is your average |
| 00:01:50 | 00:01:56 | cart value right your average cart value |
| 00:01:53 | 00:01:58 | is the amount of money that a customer |
| 00:01:56 | 00:02:00 | spends when they go through your funnel |
| 00:01:58 | 00:02:01 | okay so if you're not if you don't sell |
| 00:02:00 | 00:02:03 | it a sales funnel right now I highly |
| 00:02:01 | 00:02:04 | encourage you please please please start |
| 00:02:03 | 00:02:06 | using a sales funnel for your drop |
| 00:02:04 | 00:02:08 | shipping business if your don't know how |
| 00:02:06 | 00:02:09 | to set that up check out the sales |
| 00:02:08 | 00:02:10 | funnel masterclass the link will be down |
| 00:02:09 | 00:02:11 | below into this |
| 00:02:10 | 00:02:13 | scription on this video you can register |
| 00:02:11 | 00:02:15 | for that training class and I show you |
| 00:02:13 | 00:02:17 | why using these sales funnels is so much |
| 00:02:15 | 00:02:20 | more profitable than Shopify store or |
| 00:02:17 | 00:02:22 | Amazon FBA but the reason the average |
| 00:02:20 | 00:02:24 | cart value is important guys is because |
| 00:02:22 | 00:02:26 | it really is the average amount of money |
| 00:02:24 | 00:02:27 | that the average person is using through |
| 00:02:26 | 00:02:29 | your funnel now if you're using a |
| 00:02:27 | 00:02:30 | Shopify store for your drop shipping |
| 00:02:29 | 00:02:33 | business or your e-commerce business |
| 00:02:30 | 00:02:34 | guys you're not going to have a very |
| 00:02:33 | 00:02:37 | high average cart value because a |
| 00:02:34 | 00:02:39 | typical Shopify sales process when it |
| 00:02:37 | 00:02:40 | looks like it's a person comes to your |
| 00:02:39 | 00:02:42 | Shopify store they browse around they |
| 00:02:40 | 00:02:44 | finally pick a product that they want to |
| 00:02:42 | 00:02:46 | buy they add it to their cart and then |
| 00:02:44 | 00:02:47 | they leave okay so they just bought |
| 00:02:46 | 00:02:49 | something let's say for 10 bucks and |
| 00:02:47 | 00:02:51 | they leave now some of you guys that are |
| 00:02:49 | 00:02:52 | more savvy and e-commerce you might have |
| 00:02:51 | 00:02:54 | some post purchase upsells in there |
| 00:02:52 | 00:02:56 | which is fantastik so let's say that |
| 00:02:54 | 00:02:59 | might bump up that average cart value a |
| 00:02:56 | 00:03:01 | little bit now the reason the sales |
| 00:02:59 | 00:03:02 | funnel works as well as it does is |
| 00:03:01 | 00:03:05 | because the conversion rates are higher |
| 00:03:02 | 00:03:07 | than a Shopify store and more people are |
| 00:03:05 | 00:03:09 | going through your funnel and having the |
| 00:03:07 | 00:03:10 | opportunity to give you more money just |
| 00:03:09 | 00:03:12 | to give you some comparison shop refine |
| 00:03:10 | 00:03:14 | release numbers one point three three |
| 00:03:12 | 00:03:16 | percent was the average conversion rate |
| 00:03:14 | 00:03:18 | in a Shopify store guys one point three |
| 00:03:16 | 00:03:20 | three percent that means one point three |
| 00:03:18 | 00:03:23 | people out of 100 will buy from your |
| 00:03:20 | 00:03:26 | Shopify store now a sales funnel you're |
| 00:03:23 | 00:03:29 | gonna get around 10 to 15% ok I got |
| 00:03:26 | 00:03:33 | students up to 20 30 40 50 60 70 percent |
| 00:03:29 | 00:03:34 | order rates okay that means 10% on |
| 00:03:33 | 00:03:37 | average does it say 10 out of 100 will |
| 00:03:34 | 00:03:40 | buy from you that's 10x 10x what you're |
| 00:03:37 | 00:03:42 | getting from Shopify now what why that's |
| 00:03:40 | 00:03:43 | important is because with Shopify if |
| 00:03:42 | 00:03:46 | your conversion rates only one percent |
| 00:03:43 | 00:03:48 | your your back end funnel is it really |
| 00:03:46 | 00:03:49 | ever gonna be seen enough right it's not |
| 00:03:48 | 00:03:50 | gonna be seen enough your average cart |
| 00:03:49 | 00:03:53 | value might be high right in your |
| 00:03:50 | 00:03:54 | Shopify store but not enough people are |
| 00:03:53 | 00:03:56 | going through the funnel not enough |
| 00:03:54 | 00:03:57 | people are seeing your products and |
| 00:03:56 | 00:03:59 | having the opportunity give you money as |
| 00:03:57 | 00:04:01 | opposed to the funnel right because when |
| 00:03:59 | 00:04:03 | we use the funnel now right more people |
| 00:04:01 | 00:04:04 | are going to be going through that |
| 00:04:03 | 00:04:05 | funnel and more people are going to be |
| 00:04:04 | 00:04:08 | giving you money it's a lot more |
| 00:04:05 | 00:04:11 | profitable to do it this way okay now |
| 00:04:08 | 00:04:13 | average cart value again to go back is |
| 00:04:11 | 00:04:15 | how much money is the average person |
| 00:04:13 | 00:04:18 | spending in your funnel now with the |
| 00:04:15 | 00:04:20 | funnel guys everything is designed to |
| 00:04:18 | 00:04:22 | make us as much money as possible as |
| 00:04:20 | 00:04:25 | well as give our customers the |
| 00:04:22 | 00:04:26 | best experience as possible so how do we |
| 00:04:25 | 00:04:29 | increase average cart value while |
| 00:04:26 | 00:04:30 | average cart value guys it starts from |
| 00:04:29 | 00:04:32 | the moment honestly somebody hits a |
| 00:04:30 | 00:04:34 | funnel right they hit that opt-in page |
| 00:04:32 | 00:04:36 | that sales page a two-step order form |
| 00:04:34 | 00:04:37 | right we get their email address right |
| 00:04:36 | 00:04:38 | that's a lead that we're going to be |
| 00:04:37 | 00:04:41 | able to promote to later on with back |
| 00:04:38 | 00:04:43 | end sales right or when they when they |
| 00:04:41 | 00:04:45 | opt-in they get presented afterwards |
| 00:04:43 | 00:04:47 | with our order form now the order form |
| 00:04:45 | 00:04:48 | is where the magic happens because we |
| 00:04:47 | 00:04:50 | can give quantity break discounts we can |
| 00:04:48 | 00:04:52 | use order pumps as well which are |
| 00:04:50 | 00:04:54 | pre-purchase upsells kind of like when |
| 00:04:52 | 00:04:56 | you go to a grocery store and they're |
| 00:04:54 | 00:04:58 | just like easy tossed in items for you |
| 00:04:56 | 00:05:00 | to buy like a bag of chips or Altoids or |
| 00:04:58 | 00:05:02 | whatever you're gonna buy right easy |
| 00:05:00 | 00:05:05 | toss in items it's a great average cart |
| 00:05:02 | 00:05:06 | revenue booster before they go into like |
| 00:05:05 | 00:05:09 | the upsell sequence before they before |
| 00:05:06 | 00:05:11 | they buy now typically right here on |
| 00:05:09 | 00:05:13 | that order form you're going to see over |
| 00:05:11 | 00:05:15 | 3x the profits and a Shopify store |
| 00:05:13 | 00:05:16 | because you're offering quantity breaks |
| 00:05:15 | 00:05:18 | and there's a couple of bunch of cool |
| 00:05:16 | 00:05:20 | hacks that you can do on your order |
| 00:05:18 | 00:05:22 | forms to get people buying a lot of your |
| 00:05:20 | 00:05:25 | products and then order bumps as well |
| 00:05:22 | 00:05:26 | are going to add that average cart value |
| 00:05:25 | 00:05:28 | they're gonna boost that up usually |
| 00:05:26 | 00:05:30 | you're gonna have around 20% of people |
| 00:05:28 | 00:05:33 | buying that order bump if you're not |
| 00:05:30 | 00:05:34 | getting 20% tweak the offer you at least |
| 00:05:33 | 00:05:36 | want to get that fifteen twenty percent |
| 00:05:34 | 00:05:38 | mark on that order bump right that means |
| 00:05:36 | 00:05:40 | fifteen out of the hundred people that |
| 00:05:38 | 00:05:43 | are gonna buy from you you want them to |
| 00:05:40 | 00:05:45 | also be buying that order order bump so |
| 00:05:43 | 00:05:46 | fifteen percent conversion rate now that |
| 00:05:45 | 00:05:48 | right there is going to increase |
| 00:05:46 | 00:05:50 | drastikally again three point four X's |
| 00:05:48 | 00:05:52 | from what I've seen just that order form |
| 00:05:50 | 00:05:54 | alone is only three point four X your |
| 00:05:52 | 00:05:55 | average cart value right which is |
| 00:05:54 | 00:05:57 | fantastik but we're not done there we |
| 00:05:55 | 00:05:59 | want to make as much money as we humanly |
| 00:05:57 | 00:06:02 | possibly can so the next step we take |
| 00:05:59 | 00:06:03 | people through is our upsell sequence |
| 00:06:02 | 00:06:05 | now your upsell sequence our |
| 00:06:03 | 00:06:07 | complementary products think of like a |
| 00:06:05 | 00:06:08 | McDonald's right do you want fries with |
| 00:06:07 | 00:06:10 | that do you want warm apple pie doing a |
| 00:06:08 | 00:06:12 | milkshake right well all that good stuff |
| 00:06:10 | 00:06:15 | right those are upsells they're ways to |
| 00:06:12 | 00:06:17 | get the customer spending more money in |
| 00:06:15 | 00:06:19 | your store okay now you can have as many |
| 00:06:17 | 00:06:22 | of these as you humanly possibly want |
| 00:06:19 | 00:06:25 | I typically stik around to five upsells |
| 00:06:22 | 00:06:28 | now upsells upsells one and two I |
| 00:06:25 | 00:06:29 | usually like to always do more of the |
| 00:06:28 | 00:06:32 | same thing that they just bought at a |
| 00:06:29 | 00:06:34 | better discount okay now I understand |
| 00:06:32 | 00:06:35 | not all products can lead to this maybe |
| 00:06:34 | 00:06:38 | you're selling a very |
| 00:06:35 | 00:06:41 | one-off product and it doesn't and it |
| 00:06:38 | 00:06:43 | doesn't necessarily make you it doesn't |
| 00:06:41 | 00:06:45 | make sense for you to sell more than one |
| 00:06:43 | 00:06:47 | of it or more of the same of it but I |
| 00:06:45 | 00:06:49 | encourage you to test it because I have |
| 00:06:47 | 00:06:52 | a student recently joined our $50,000 |
| 00:06:49 | 00:06:55 | per month Club and he had a product that |
| 00:06:52 | 00:06:57 | I had no I could have swore guys that |
| 00:06:55 | 00:06:59 | this product would never nobody would |
| 00:06:57 | 00:07:01 | buy more than one ever ever ever it just |
| 00:06:59 | 00:07:03 | didn't make sense but guess what his or |
| 00:07:01 | 00:07:05 | OTO is one and two were a some more the |
| 00:07:03 | 00:07:09 | same thing are converting at over 15% |
| 00:07:05 | 00:07:11 | 15% on those upsells right which is |
| 00:07:09 | 00:07:13 | fan-freaking-tastik okay |
| 00:07:11 | 00:07:15 | try it out everything is always worth |
| 00:07:13 | 00:07:16 | testing do never never never use your |
| 00:07:15 | 00:07:19 | own judgment in business guys let the |
| 00:07:16 | 00:07:21 | data tok okay most people don't let the |
| 00:07:19 | 00:07:23 | data tok let the data tok and then you |
| 00:07:21 | 00:07:25 | adjust from there and always give the |
| 00:07:23 | 00:07:27 | data enough time to see and make sure |
| 00:07:25 | 00:07:28 | that's working for example if you just |
| 00:07:27 | 00:07:30 | run your funnel for a day and nobody |
| 00:07:28 | 00:07:33 | took your upsell don't freak out right |
| 00:07:30 | 00:07:34 | let it run for about a week make sure |
| 00:07:33 | 00:07:37 | that it's at that there's enough data |
| 00:07:34 | 00:07:40 | into the funnel so you can really do a |
| 00:07:37 | 00:07:42 | decision okay boys always always let the |
| 00:07:40 | 00:07:44 | data tell you what to do next |
| 00:07:42 | 00:07:46 | now upsells wanted to again I love to |
| 00:07:44 | 00:07:48 | have that there some more the same thing |
| 00:07:46 | 00:07:49 | if possible if not sell complementary |
| 00:07:48 | 00:07:52 | products guys I mean it's just that |
| 00:07:49 | 00:07:54 | simple sell complimentary a similar |
| 00:07:52 | 00:07:56 | priced products more expensive products |
| 00:07:54 | 00:07:58 | or tests other front-end offers right |
| 00:07:56 | 00:08:00 | that's a good place to test and it in |
| 00:07:58 | 00:08:02 | our upsell sequences we also like to |
| 00:08:00 | 00:08:03 | have our continuity right |
| 00:08:02 | 00:08:06 | our continuities our reoccurring revenue |
| 00:08:03 | 00:08:08 | on it's the money that's gonna be coming |
| 00:08:06 | 00:08:09 | into our business month after month on |
| 00:08:08 | 00:08:12 | autopilot from our customers similar to |
| 00:08:09 | 00:08:14 | like a bark box or a fabfitfun where our |
| 00:08:12 | 00:08:16 | customers have the opportunity to join |
| 00:08:14 | 00:08:18 | our monthly subscription box a members |
| 00:08:16 | 00:08:20 | area whatever we're giving them access |
| 00:08:18 | 00:08:22 | to they point is they pass every single |
| 00:08:20 | 00:08:25 | month and we give them access to this |
| 00:08:22 | 00:08:27 | area which is an absolutely incredible |
| 00:08:25 | 00:08:30 | incredible revenue booster in itself |
| 00:08:27 | 00:08:31 | guys having that continuity program and |
| 00:08:30 | 00:08:32 | in our Thank You pages now we're not |
| 00:08:31 | 00:08:34 | going to go too much into Thank You |
| 00:08:32 | 00:08:35 | pages but Thank You pages are a great |
| 00:08:34 | 00:08:38 | opportunity to sell your customers more |
| 00:08:35 | 00:08:39 | stuff okay don't just because you're |
| 00:08:38 | 00:08:41 | done selling doesn't mean they're done |
| 00:08:39 | 00:08:43 | buying okay that's fantastik advice that |
| 00:08:41 | 00:08:44 | I got a from a mentor of mine but never |
| 00:08:43 | 00:08:45 | ever |
| 00:08:44 | 00:08:47 | ever assume that your customer is done |
| 00:08:45 | 00:08:50 | buying just because you are done selling |
| 00:08:47 | 00:08:53 | okay now if you're at that right there |
| 00:08:50 | 00:08:55 | those pieces are going to literally 5x |
| 00:08:53 | 00:08:58 | to 10x your average cart value in your |
| 00:08:55 | 00:09:00 | funnel now the next metric to average |
| 00:08:58 | 00:09:02 | cart value that is very important to pay |
| 00:09:00 | 00:09:05 | attention to is your cost per purchase |
| 00:09:02 | 00:09:09 | right your cost per sale your cost per |
| 00:09:05 | 00:09:11 | to get a customer into the funnel okay |
| 00:09:09 | 00:09:13 | now I typically because I know how to |
| 00:09:11 | 00:09:15 | set up a business I don't just rely on |
| 00:09:13 | 00:09:17 | front-end sales that's what I teach you |
| 00:09:15 | 00:09:19 | guys here you ever never never |
| 00:09:17 | 00:09:20 | just rely on front-end sales in your |
| 00:09:19 | 00:09:22 | business because that is no way to run a |
| 00:09:20 | 00:09:25 | business you always always always need |
| 00:09:22 | 00:09:28 | to be focusing on back-end sales now I |
| 00:09:25 | 00:09:33 | always like to make my cost per purchase |
| 00:09:28 | 00:09:34 | equal or less than my average Clark |
| 00:09:33 | 00:09:37 | value so for example if the average |
| 00:09:34 | 00:09:39 | customer is spending $35 in my funnel |
| 00:09:37 | 00:09:43 | right they're buying up cells they're |
| 00:09:39 | 00:09:44 | buying continuity they're buying the the |
| 00:09:43 | 00:09:46 | order form the order bumps if they're |
| 00:09:44 | 00:09:48 | spending around $35 let's say in our |
| 00:09:46 | 00:09:49 | funnel the average customer then I will |
| 00:09:48 | 00:09:51 | want to make sure that my cost per |
| 00:09:49 | 00:09:53 | purchase we have Facebook ads via |
| 00:09:51 | 00:09:56 | Instagram influencers or whatever is |
| 00:09:53 | 00:09:58 | less than $35 if not equal to I don't |
| 00:09:56 | 00:10:01 | mind doing equal like I don't mind |
| 00:09:58 | 00:10:03 | giving Facebook $35 to get a $35 average |
| 00:10:01 | 00:10:05 | cart now some of you might be like |
| 00:10:03 | 00:10:06 | that's crazy because yourself cost per |
| 00:10:05 | 00:10:09 | product you you have the products that |
| 00:10:06 | 00:10:11 | you have to pay for well what happens is |
| 00:10:09 | 00:10:14 | if you have your funnel set up properly |
| 00:10:11 | 00:10:15 | your continuity your upsells your order |
| 00:10:14 | 00:10:18 | bump your email marketing and back-end |
| 00:10:15 | 00:10:20 | sales right then it's fine it's fine to |
| 00:10:18 | 00:10:22 | lose a tiny bit of margin to get that |
| 00:10:20 | 00:10:24 | customer for free because I imagine guys |
| 00:10:22 | 00:10:26 | once you know your numbers a little bit |
| 00:10:24 | 00:10:28 | better that customer there's a there's |
| 00:10:26 | 00:10:30 | gonna be a percentage of them that |
| 00:10:28 | 00:10:32 | turned into continuity members which now |
| 00:10:30 | 00:10:33 | gets you paid every single month on |
| 00:10:32 | 00:10:36 | autopilot |
| 00:10:33 | 00:10:37 | okay now that right there is back-end |
| 00:10:36 | 00:10:39 | sales coming to your business so that |
| 00:10:37 | 00:10:42 | $35 that you just spent to acquire that |
| 00:10:39 | 00:10:43 | customer actually might turn into one |
| 00:10:42 | 00:10:44 | hundred and fifty dollars because that |
| 00:10:43 | 00:10:46 | average that customer might stay with |
| 00:10:44 | 00:10:48 | your reoccurring revenue your monthly |
| 00:10:46 | 00:10:50 | subscription box for five six months so |
| 00:10:48 | 00:10:51 | I'm okay with that because I understand |
| 00:10:50 | 00:10:52 | business okay |
| 00:10:51 | 00:10:54 | I want you to make sure you start |
| 00:10:52 | 00:10:56 | thinking this way just because you might |
| 00:10:54 | 00:10:58 | lose a little bit of money on Facebook |
| 00:10:56 | 00:11:00 | ads if you have your back-end business |
| 00:10:58 | 00:11:01 | set up properly and you're following up |
| 00:11:00 | 00:11:04 | with people you're launching new offers |
| 00:11:01 | 00:11:05 | you're launching new funnels right doing |
| 00:11:04 | 00:11:07 | things to generate revenue for your |
| 00:11:05 | 00:11:10 | business that's completely fine now of |
| 00:11:07 | 00:11:12 | course if I'm if I'm paying $35 for my |
| 00:11:10 | 00:11:15 | Facebook cause of Facebook to acquire a |
| 00:11:12 | 00:11:17 | customer and I have a $35 average cart |
| 00:11:15 | 00:11:20 | I'm going to work on this okay I'm going |
| 00:11:17 | 00:11:22 | to look and see where my funnel that I |
| 00:11:20 | 00:11:25 | can improve okay because I of course |
| 00:11:22 | 00:11:28 | want to lower that $35 cost per purchase |
| 00:11:25 | 00:11:30 | okay but again I don't mind an average |
| 00:11:28 | 00:11:32 | cart and cost per purchase are equal but |
| 00:11:30 | 00:11:34 | again it's a so that's a great base site |
| 00:11:32 | 00:11:35 | to have okay because as long as your |
| 00:11:34 | 00:11:36 | funnel set up properly you should be |
| 00:11:35 | 00:11:38 | making money with your continuity |
| 00:11:36 | 00:11:41 | programs back in sales all that good |
| 00:11:38 | 00:11:44 | stuff now as far as troubleshooting |
| 00:11:41 | 00:11:47 | those kind of issues right a lot of |
| 00:11:44 | 00:11:48 | people love to go jump at price right so |
| 00:11:47 | 00:11:51 | for example if you have a $35 costo |
| 00:11:48 | 00:11:53 | purchase and a $35 average cart right |
| 00:11:51 | 00:11:55 | that means let's start looking how can |
| 00:11:53 | 00:11:57 | we lower that cost per purchase so we |
| 00:11:55 | 00:11:59 | can retain more of that revenue well a |
| 00:11:57 | 00:12:01 | lot of people just go and lower their |
| 00:11:59 | 00:12:04 | price which is a terrible place that |
| 00:12:01 | 00:12:06 | terrible thing to do never go in and |
| 00:12:04 | 00:12:08 | just a lower price immediately it's it's |
| 00:12:06 | 00:12:12 | not a good thing to do okay |
| 00:12:08 | 00:12:16 | go out and offer more okay that's the |
| 00:12:12 | 00:12:18 | best best solution to it now obviously |
| 00:12:16 | 00:12:19 | you want to look through every step of |
| 00:12:18 | 00:12:22 | your funnel make sure that you're not |
| 00:12:19 | 00:12:23 | losing people like for example a lot of |
| 00:12:22 | 00:12:25 | students might have like a terrible |
| 00:12:23 | 00:12:27 | terrible opt-in rate okay but their |
| 00:12:25 | 00:12:30 | order form conversion might be amazing |
| 00:12:27 | 00:12:31 | or might be like 20 30 % so the issue |
| 00:12:30 | 00:12:33 | with their cost per purchase being so |
| 00:12:31 | 00:12:35 | high as their opt-in rate sucks okay on |
| 00:12:33 | 00:12:37 | that first sales funnel are all in that |
| 00:12:35 | 00:12:40 | sales page on that opt-in page so we'll |
| 00:12:37 | 00:12:41 | go back look at that sales page and see |
| 00:12:40 | 00:12:43 | hey how can we make that sales page |
| 00:12:41 | 00:12:46 | better to get people to opt-in to our |
| 00:12:43 | 00:12:48 | business okay so it's really important |
| 00:12:46 | 00:12:49 | to make sure you understand the key |
| 00:12:48 | 00:12:51 | metrics through the business but if you |
| 00:12:49 | 00:12:54 | just focus on cost per purchase an |
| 00:12:51 | 00:12:56 | average car value you're going to be |
| 00:12:54 | 00:12:58 | away ahead of the game and once you have |
| 00:12:56 | 00:12:59 | those numbers then you start looking at |
| 00:12:58 | 00:13:01 | the actual funnel right what's your |
| 00:12:59 | 00:13:02 | opt-in rate converting at what's the |
| 00:13:01 | 00:13:04 | order form what |
| 00:13:02 | 00:13:05 | cells converting it and truthfully guys |
| 00:13:04 | 00:13:08 | you should be looking at these numbers |
| 00:13:05 | 00:13:09 | every single day right tracking them |
| 00:13:08 | 00:13:12 | every single day I do this every single |
| 00:13:09 | 00:13:14 | morning in my businesses track every |
| 00:13:12 | 00:13:15 | single number how many sales conversion |
| 00:13:14 | 00:13:17 | rates for everything and so I can get a |
| 00:13:15 | 00:13:18 | running average and a lot of people will |
| 00:13:17 | 00:13:20 | say Oh whoopee I could just go look over |
| 00:13:18 | 00:13:21 | a month and see what my phone will |
| 00:13:20 | 00:13:23 | convert at well yes you absolutely can |
| 00:13:21 | 00:13:25 | but I want to see it on a daily basis I |
| 00:13:23 | 00:13:26 | mean the people that are obsessed with |
| 00:13:25 | 00:13:29 | their numbers are the ones that make the |
| 00:13:26 | 00:13:29 | most of money I promise you that so if |
| 00:13:29 | 00:13:31 | you have any questions about today's |
| 00:13:29 | 00:13:33 | video about these KPIs or if you have |
| 00:13:31 | 00:13:35 | any suggestions on what you love to |
| 00:13:33 | 00:13:36 | track in your business drop a comment |
| 00:13:35 | 00:13:38 | down below I absolutely love hearing |
| 00:13:36 | 00:13:39 | from you guys and I make some time every |
| 00:13:38 | 00:13:41 | single day to answer your guys's |
| 00:13:39 | 00:13:42 | question if you've got tremendous value |
| 00:13:41 | 00:13:44 | from today's video make sure to smash |
| 00:13:42 | 00:13:46 | that like button smash the subscribe |
| 00:13:44 | 00:13:47 | button and turn a notification bell on |
| 00:13:46 | 00:13:49 | because new videos are released here |
| 00:13:47 | 00:13:51 | every single day and if you are brand |
| 00:13:49 | 00:13:54 | new to e-commerce and you want to build |
| 00:13:51 | 00:13:56 | your e-commerce business without relying |
| 00:13:54 | 00:13:58 | on Shopify without relying on Amazon FBA |
| 00:13:56 | 00:13:59 | or any sort of expensive paid traffic I |
| 00:13:58 | 00:14:01 | encourage you click that link down in |
| 00:13:59 | 00:14:03 | the description below I show you how to |
| 00:14:01 | 00:14:05 | build your ecommerce empire using sales |
| 00:14:03 | 00:14:07 | funnels so you're actually profitable |
| 00:14:05 | 00:14:08 | and you can actually pay yourself from |
| 00:14:07 | 00:14:09 | your business but guys that is it for |
| 00:14:08 | 00:14:11 | today's video I hope you have a |
| 00:14:09 | 00:14:13 | fantastik rest of your day and remember |
| 00:14:11 | 00:14:24 | your empire starts now |
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