Coaching Session 5 – Price and Digital Marketing

Outline

  • Pricing 
  • Bundles 
  • Subscription 
  • Email Marketing 
    • Welcome Series 
    • Abandoned Cart Series 
    • Post Purchase 
  • Sms Marketing 
  • Social Media 
  • Ads

 

Pricing

  1. Determine your COGS. 
  2. Come up with a default mark-up principle. 
  3. Compare your price vs your competitor/s. 
  4. Adjust accordingly and find your sweet spot. 
    • The prices in green font have more than 50% mark-up

 

Bundles

  • When shopping, we’re often attracted to bundle deals because of the notion that we are able to save more with bundles. 
  • Bundles are usually in the form of 

           Buy 1 Take 1 or a similar scheme while others choose to cross-sell items that are frequently bought together. 

  • You can manually list bundles or find an app that you can customize according to your need. The discount section on the Shopify dashboard may also be helpful. 

Subscriptions

  • Recently, SHOPIFY made selling subscriptions easier! 
  • Merchants opt to sell via subscriptions usually when the product they’re selling needs to be replenished. Examples are; food, and wine or beverages. This ensures a monthly or recurring purchase on the store. 

 

Email Marketing

Set up:

  • Welcomes Series 
  • Abandoned Cart Series 
  • Post Purchase 
    • Upsell 
    • Ask for a review 
    • Birthday discount 
    • Last order reminder 
  • Daily / Weekly / Monthly Newsletter

 

Welcome Series

Your welcome series is your onboarding series for your customer. This is your chance to introduce your brand to the customer. 

Start out with; 

  • An auto-response once the customers are opt-in. 
  • About Us 
  • introducing your product and collections 
  • 3-5 emails.

 

Abandoned Cart Series

Abandoned carts are typical customer behavior and are driven by different factors; 

  • Shipping cost and shipping time 
  • Change of mind 
  • Payment Methods 
  • Some actually wait for an abandoned cart campaign to benefit from the special deals offered.

Abandoned Cart Series

  • Send out email reminders. 
  • Provide a discount code in your last email. 
  • You need to plan the spaces/ timing of these e-mails

Post Purchase

  • Order confirmation   
  • Shipping confirmation 
  • Request for a review

Human to Human conversations converts better. 

  1. Website 1-2%
  2. Marketing Blast 1-2%
  3. SMS 10%
  • Alternative to Facebook Marketing
  • Alternative to Email Marketing 
    • Can be programmed with sequences and workflows 
    • If the reply is not understandable by a bot, the merchant or the customer service team will be notified to take over the conversation. 
  • Social media allows for immediate interaction and customer feedback. Businesses can also respond to their customers right away. With nearly half of U.S. customers using social media to ask questions about products or services, having a social media customer service strategy is extremely important. -From Coschedule 
  • Social media did not have a sales function but this may change over the course of time as Social Shops continue to develop. 
  • These platforms have partnered up with Shopify. 
  • With rising problems and other issues on Facebook advertising, others have looked at these platforms as viable alternatives for growth and traffic. 
  • New business accounts are provided ad credits to encourage merchants to try out the platform. 
  • Largest social media platform 
  • Has continuously proven to drive conversions and traffic. 

Portfolio 5

  1. Compute for the price of your product (refer to your activity in Portfolio 3-4). 
  2. Using this product, come up with a bundle campaign. 
  3. Come up with a subscription campaign. 
  4. Come up with your opt-in offer; welcome series, abandoned cart campaigns, post-purchase emails. 
  5. Come up with an SMS broadcast. 
  6. Set up a Facebook / IG / Pinterest Shop using Shopify. 
  7. Create a sample ad for your chosen advertising platform. 

 

Subject: Batch 15 Coaching Session 5

 

PORTFOLIO SUBMISSION GUIDES:

1. Video-On-Demand (VOD) Access
Submit your portfolios to courses@surgedigital.agency.
You can submit individually per coaching session or submit all required portfolios as one, in one email (attach your Google Drive).

2. VOD with Class Coaching
Send your portfolios to courses@surgedigital.agency.
Please submit individually per coaching session.

3. VOD with Mentoring
Send your portfolios to courses@surgedigital.agency.
Please submit individually per coaching session.

4. Premium Members
Submit your portfolios to courses@surgedigital.agency.
Please submit all required portfolios as one, in one email (attach your Google Drive).

 

Blessed is the man who is too busy to worry in the daytime and too sleepy to worry at night. 

The sleep of a laboring man is sweet. 

Ecclesiastes 5:12 

 

CONTACT US!

For Technical Issues: members@surgedigital.agency

For Submission and Certificate: courses@surgedigital.agency

For any Concerns or Questions: info@thesurgemarketplace.com