80/20 for Online Retailers

Watch the recording of our 80/20 for Online Retailers webinar with JD Crouse of Bolder Bands. JD shares lessons on how to grow your online store through the use of 80/20 analysis and RFM segmentation. Given that JD and his wife won the Shopify Build A Business Competition in 2014, these lessons carry weight and you should heed them.

In the webinar, we offer a complimentary Growth Assessment that you can request here: http://offers.revenueconduit.com/growth-assessment

JD also offers a compelling program that gives you direct access to JD on a monthly basis to ask any questions you have about growing and running your online store. You can sign up here: http://www.bbolder.com/pages/e-commerce-business-unpacked

Lastly, if you’re interested in learning more about 80/20 analysis, you can click here to download the 80/20 Cheat Sheet for Online Retailers

Remarketing to Customers using Infusionsoft CRM Data

Remarketing to your prospects and customers has never been easier or more powerful.

You should start by building remarketing segments using your homepage, landing pages, landing page thank you pages, category pages, individual product pages and post-purchase thank you page.

But if you want to take it a step further, you can use data from your CRM to build even more targeted remarketing segments based on customer purchase behavior.

Revenue Conduit makes it easy for you to segment your eCommerce customers based on the last time they bought, how many times they bought and how much they have spent with you over their lifetime as your customer.

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When Revenue Conduit syncs data from your shopping cart (Magento, Shopify, BigCommerce or Volusion) to Infusionsoft, we calculate a number of data points that are stored in Infusionsoft custom fields.  Read more

80/20 eCommerce Analysis Part 2 – The Results

In Part 1, we talked about the results of a recent 80/20 Analysis we conducted for a Revenue Conduit customer.

We found a number of customer segments that were all but invisible prior to the 80/20 analysis.

One big revelation was that only 10% of their customers accounted for 50% of revenues.

Another big revelation was that a full 85% of customers had only bought once.

When conducting 80/20 analysis, we always look for “low-hanging fruit” campaigns – campaigns that offer a relatively easy and immediate source of revenue and profit.

Campaigns that not only pay for your initial investment in Infusionsoft, Revenue Conduit and consulting but also provide an immediate ROI that can be further invested in even more profit-generating campaigns.

The biggest “low-hanging fruit” campaign was to get a second purchase from the customers that had only bought once. Knowing that the customers that had only bought once also differed based on the data of their last purchase, we also decided to further segment them into three groups – customers that last bought more than six months ago, customers that last bought between four to six months ago and customers that last bought within the last four months. Read more

80/20 eCommerce Analysis – A Recent Revelation

8020You never know what you will find when conducting 80/20 analysis for eCommerce.

Hidden opportunities.

Looming threats.

Clues for campaigns that provide the right message at the right time to the right customer segment you didn’t even know existed.

I’ll share with you the results of a recent 80/20 analysis for a Revenue Conduit customer. For confidentiality reasons, I’ll withhold the name of the actual company and generalize some data.

Start with Getting the Data into Infusionsoft

A recent signup for Revenue Conduit purchased our Historical Data Service to export all of his orders, products and customers from Magento and import them into Infusionsoft.

Part of the service includes calculating data and populating a number of fields within Infusionsoft.

We use the fields for RFM Segmentation (purchase recency, purchase frequency and monetary).

The fields include: Read more