As we head into the 4th quarter, you might be feeling underwhelmed by your results.
It’s normal. Progress comes in baby steps.
Sometimes we get stuck in our feelings as business owners. It’s easy to feel like we’re not doing enough- not enough sales, for too much time and money. You’re not alone – I have felt the same way. But as someone who’s successfully grown and sold 3 businesses, here’s what I know.
The answer is in your numbers.
Take a look- what’s really growing your sales? Do more of what’s working, and give yourself permission to let go of the things that aren’t moving you forward. This will make you feel better- and even in control!
It might help you to see how I was feeling, and what was happening at my project store Sock Doggo, as I was entering my first Q4.
Here’s a look back:
You might be surprised to hear that 60%+ of Sock Doggo’s sales come down to just 2 strategies. Listen in as I share what’s working (and how you can find what’s working in your business!) – or read below.
What’s working – here are the actual numbers
Total sales: $12,600 of sales at Sock Doggo
22% of sales came from a collaboration
These were wholesale sales working with American Doxie. This is a profitable relationship! This is a huge clue about what’s working in my business.
42% of sales came from email
My Klaviyo dashboard shows that email is working well to convert leads into buyers.
64% of sales came from those 2 activities
This is great news because I can clearly see what’s working.
Why does it matter?
The time spent to learn and maintain other “shiny objects” is a distraction. As ecommerce store owners, we only have finite time to build our businesses. Don’t burn yourself out chasing the latest trends. The fastest way to grow your business is to do more of what’s working. The data for Sock Doggo is clear. If I spend more time on wholesale collaborations or email marketing, that’s going to grow my sales. I don’t have to guess- which is a great feeling.
What else do I need to do to grow my sales at this stage?
Traffic – If you don’t know how to reliably drive 3000+ web visitors a month to your store, you won’t have consistent sales. If you aren’t there yet- that is the first step! If you aren’t sure how to get there, check out our Traffic Bootcamp course here.
At Sock Doggo, we’ve got 3000+ web visitors a month, so our next step is conversion.
Why does conversion matter, and how do we improve our conversion rate?
Sock Doggo’s conversion rate is 0.78%. This rate is pretty low, but it’s common for new stores as you find your way to your perfect audience.
How can I increase my conversion rate? The data tells us that, too. Returning visitors convert better (usually double or more), so we’ll focus on them.
My next steps? Increasing our conversion rate. I’d like Sock Doggo to be at least 1% – so 1 out of every 100 visitors makes a purchase. The fastest way to reach my goal is to get more people back for repeat visits, so going forward, I’m going to commit to emailing my list every week. When I send more email, I’ll get more returning visitors, and my conversion rate should increase.
Here’s what I need to do next to get more sales in less time. I know if I focus on these 3 things, I’ll be moving forward in my business- and I’ll feel in control while doing it.
Our wholesale collaboration was a huge success- profitable and over 20% of our revenue so far. I can take this success and reach out to more partners with confidence. Wanna know how we did it? Read more about our collaboration with American Doxie (and how you can set up something similar for your brand) here.
#2– Email Marketing
I know I could be more consistent with email, and if I am, it’ll pay off. Over 40% of my sales are from email. That means I’ve found the right people to send to my store. If I focus on growing my list larger and emailing them more, I know I’ll see more sales. What’s better is that traffic from email marketing is returning traffic. And, we know those customers convert at more than double the rate of new visitors. Which leads me to my 3rd takeaway…
#3- Increase the number of returning visitors
I know that I need to get more people back to my website a 2nd, 3rd, 4th time. Many new visitors aren’t ready to buy yet. By getting them on our email list, we’re more likely to get them to return. Returning visitors convert at more than double the rate of new visitors, so it’s worth focusing on them. This is the best way to increase our conversion rate. Need ideas? Learn more about how to get returning visitors here
Success comes from consistency – focus on the small steps now that will lead to big wins later!
Next steps for your ecommerce business
Every ecommerce store is different. The best way to learn what you should focus on in your ecommerce store is to find your data!
Here’s where I found my store’s data (and how to find yours)
Wholesale sales: This is from my Shopify dashboard. You can refer to your dashboard or Google Analytics
Email marketing sales: Klaviyo’s dashboard calculates this for me. With UTM parameters set up, you can also find this number in Google Analytics
Returning visitors and conversion rates: This metric is in Google Analytics’ New vs Returning Visitors report.
You’ll want to make sure your Google Analytics account is set up for ecommerce.
Important Update: Google Analytics and GA4:
*As of July 2023, Google Analytics is being replaced with GA4.*
If you’re not on GA4 yet, you need to be! This is how Google will track your metrics moving forward. We’re still learning about everything GA4 has to offer. Learn more about GA4 here on the podcast.
Inner Circle members, your GA4 training is here.
Inner Circle members get access to our Google ecommerce coach Leona. Leona keeps members updated on everything Google. Join the waitlist for the Inner Circle here, so you can get the latest information as soon as we have it: I want in!
On the podcast
How to collaborate- 7 ideas to get you started: https://thesocialsalesgirls.com/how-to-use-collaborations-to-get-traffic-and-sales-episode-18/
How to get wholesale orders: https://thesocialsalesgirls.com/3-things-im-doing-to-grow-wholesale-sales-episode-102/
How to get more leads: https://thesocialsalesgirls.com/whats-working-in-2022-part-3-episode-105/
How to make a simple marketing plan: https://thesocialsalesgirls.com/how-you-can-make-a-simple-marketing-plan/
12 email ideas to get you started with email marketing: https://thesocialsalesgirls.com/twelve-email-ideas-you-can-implement-and-recycle-episode-12/
On the blog
Learn more about our event with American Doxie here: https://thesocialsalesgirls.com/heres-what-our-partnered-event-cost-and-what-we-got-in-return/
Not sure how to get started with wholesale? Learn how here: https://thesocialsalesgirls.com/want-to-have-your-products-made-offshore-dont-miss-this/
See another example of how to focus on what matters in your business: https://thesocialsalesgirls.com/unsure-where-you-should-focus-figure-it-out-in-just-4-steps/
Learn more about collaboration: https://thesocialsalesgirls.com/im-collaborating-to-grow-my-sales-heres-how-im-doing-it/
Get another collaboration example here: https://thesocialsalesgirls.com/my-conversion-rate-is-up-92-heres-what-happened/
More influencer marketing ideas from Sock Doggo: https://thesocialsalesgirls.com/how-im-using-influencer-marketing-for-sock-doggo/
Free resources on my website: https://thesocialsalesgirls.com/resource-library/
Learn how to use your Google Analytics data: https://thesocialsalesgirls.com/7-clicks-to-google-analytics
Google Analytics report for those ready to focus on conversion: https://thesocialsalesgirls.com/secret-to-conversion-cheat-sheet/
Email marketing cheat sheet to get started now: https://thesocialsalesgirls.com/email-marketing-cheat-sheet
Not sure what you should focus on next? Learn what stage you’re in and next steps here: https://thesocialsalesgirls.com/growth-plan-action-checklist
Need a little extra help? An ecommerce coach could be the best next step. We offer affordable ecommerce coaching in our Inner Circle community. Get on the waitlist for the Inner Circle here and get invited next time we’re open to take new members: Sign me up!
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