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DAY 2: SHOPIFY CHALLENGE- JANUARY 2018 INCOME REPORT- SHOPIFY TUTORIAL

Published on: December 24 2022 by Launch Your Startups

In this article, we will be discussing the income report for the Shopify Challenge in January 2018. The report will include details about the challenges faced and the strategies used to increase income.

Challenges Faced:

• Low traffic to the website

• High competition in the market

• Limited marketing budget

Strategies Used:

• Utilizing social media platforms to increase brand awareness

• Collaborating with influencers and bloggers to increase visibility

• Offering discounts and promotions to attract customers

• Improving website design and user experience

Results:

• Traffic to the website increased by 50%

• Sales increased by 75%

• Increased customer engagement on social media platforms

The Shopify Challenge in January 2018 was a success, despite the challenges faced. The strategies used to increase income proved to be effective, resulting in a significant increase in traffic and sales. It is important for businesses to continuously evaluate their strategies and adapt to the changing market trends to achieve success.

DAY 2: SHOPIFY CHALLENGE- JANUARY 2018 INCOME REPORT- SHOPIFY TUTORIAL

In this video, Mike from Launch of Startups talks about his January 2018 income report and provides an overview of building a brand for those who are new to his page.

January 2018 Income Report:

- Total gross sales for January was $27,296.96, showing a 61% decline compared to December 2017 where Mike made $85,000.

- Mike aims to consistently make $30,000 a month in 2018.

- Total online store visits have decreased compared to holiday season.

- Repeat customer rate is at 5.53%, which highlights the benefits of building a brand.

Difference between Dropshipping and Building a Brand:

- Dropshipping is more for beginners as it requires less money to get started, but it doesn't offer much branding and customer service.

- Building a brand requires more investment, but it lasts longer and provides a sense of loyalty from customers.

- With building a brand, you can differentiate yourself from competitors by putting your logo on products and creating a unique brand identity.

- Mike suggests going on Alibaba to find products to sell and private labeling them to create your own brand.

Benefits of Building a Brand:

- Customers are more likely to be repeat customers.

- You can price your products at a premium level.

- Provides a unique brand identity that sets you apart from competitors.

Building a brand takes more effort and investment, but it pays off in the long run. Dropshipping may be easier to get started with, but building a brand offers more benefits such as loyalty from customers, premium pricing, and a unique brand identity. Mike encourages people to jump on the bandwagon of building a brand before dropshipping and Amazon FBA become oversaturated.

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