Today on the Winning with Shopify podcast, I'm trying not
to get too technical. My team are very technical.
As you can tell, only a third of those products had actually had
a sale. I know it can be quite clunky to
get bundling like that to work on Shopify, but it's so worth
it. Or automotive, as you guys call
it, the automotive in America. That's the end of my American
accent for the day. And big question then, what's
the difference and why should I care?
Even if you know the difference, let me explain why there's a
power in that. Hello and welcome to another
episode we're winning with Shopify podcast.
For anyone that's not tuned in before, my name is Nick.
It's a pleasure of you tuning in to the brightest pinkest podcast
you've ever seen in your life. We talk about all things Shopify
here. We have listeners in and we
checked this this morning over 33 countries and like a good
marketing agency, it means we've got 34 countries where you guys
TuneIn, we've got hundreds of thousands of people tuning into
this show and it's a pleasure to have you all on that journey.
We've had millions of views over the last 12 months and it's
absolute joy to see some of these statistics and even more
of a joy to hear from some of you guys.
So I'm going to talk today about something that I've got lots and
lots of emails in my inbox about this episode.
Just checking the date. This will go out on the 18th of
July so I'm recording it on the 16th of July which is 24 hours
after my first ever Tuesday talks has gone out.
And spoiler alert, we've had some good names recommended for
it since the episode went out yesterday.
So we're going to change the name next week and probably keep
it as a new one. And it's playing on my
Britishness as a as a presenter. But anyway, without further ado,
this week's episode and this is the full episode today.
I don't have a guest because I'm going to do something off the
back of something I started on Tuesday.
And we've had so many of you guys saying can we get some more
of that? And I've gone, yeah, we can get
loads more of that. What we did on Tuesday is I read
out four things we had learnt last week in the agency,
specifically my PPC team about things that are working on
Google Ads. A couple of social bits and
pieces in here as well, but mostly Google Ads.
We focused on things we've learnt that are changing our
strategy for that particular clients.
These are all across different clients and different learnings.
We're not going to read the clients out because we don't
have the time to e-mail all of them say can we mention this in
the podcast? I mentioned your name, but I can
promise you these are all real and legitimate things and these
are all game changing strategy things that we learned.
Just last week alone, I read four of them out and the four
that I read out on Tuesday were only one in 10 products added to
car actually got purchased. When users land on the second
one is when users land on a on the website, they go straight
into the search bar. They don't actually use the NAV
crawl across any of your pages. They just go straight into the
search bar and the search was rubbish When users the thing
that users click on on Google shopping to land into the site
was rarely the product they actually purchase.
So we need to change what the landing pages do to help you get
from the one you've landed on knowing you're not going to buy
the one you've landed on, but get you to one similar that you
do want to buy. And the fourth thing as well is
when the cost per conversion was higher, we made more revenue and
more profit. So sometimes we want to bring
that cost per conversion down. So you're paying less per new
customer you acquire. But actually when we paid more
and we increased the amount we're paying Google per new
customer, we made a lot more profit on those orders because
the more we paid probably bigger, more expensive items.
So we're bidding against people at higher bid prices and that
sort of thing. So I read those four out and we
had, I said 26, we're now up to about 33.
I'm going to read out as many of these things I can in the next
26 minutes. So I've set a timer, We're 4
minutes in on my timer right now since I hit record.
I know the episode's not quite 4 minutes, but when I hit 30
minutes, I'm going to stop. So 26 minutes from now, buckle
up, sharpen your pen or pencil and yeah, let's see where we go
with this. And if any of these strike you
guys, you've got any questions, send us an e-mail afterwards.
Hello at Winning with shopify.com.
I do keep a rough eye on the inbox and anything interesting
or any big questions can get sent through to me from my team.
So we will reply to you if we can, right?
This is interesting. Of all the products that were
showing on Performance Max and therefore on Google Shopping,
Google Shopping tends to be the best channel.
Only a third of those products had actually had a sale.
So if all the products that had spent money, only one third of
them had actually made a sale. If you were to just take the
other 66%, the other 2/3 of those products out and just run
that 1/3, I don't know what would happen.
It wouldn't necessarily, these things are never linear.
It wouldn't necessarily mean an uplift in revenue off the back
of that or an uplift in profit off the back of that.
But that's an interesting learning and there's lots of
things that we can start to do with that.
One of them is look at the ranges that are therefore
selling the ones that aren't and maybe split the campaign into
put more budget behind the one that is working budget away from
the one that is not working. So that's the first thing on the
list. This is on the 26th list.
And then I have another list that they've started making
since yesterday as well because they got very excited when we
got so many emails in from you guys.
So this was interesting. Broad match.
If you've never worked with search terms and, and the
different match types within Google before, you might not
know what broad match is. In Google's infancy, before we
had shopping and lots of other stuff, you would just have
keywords and you'd put in a keyword saying, all right, we
sell potatoes. So put the word potatoes in and
if you put that on what's called broad match, Broad match means
anything to do with the word potatoes, we can appear on
Google for with our advert, which is not very targeted.
So broad match traditionally has not worked very well.
You're better off a having a longer keyword to say like
organic UK farmed or organic US farmed potatoes is a keyword or
organic potatoes or potatoes in bulk.
If someone trying to buy in bulk just selling a single potato
over the website it's probably not going to make you much
money. But using broad match is very
dangerous. You tend to have a longer
keyword and you put it on exact. So only if someone searched
exactly the thing or phrase, even those things now exact and
phrase. Google's trying to get smart and
it's exact doesn't really exist anymore.
But Long story short, then that's what a broad match
keyword is. It's just anything to do with
any of the words in that keyword we can appear for.
It's super generic and it's very untargeted.
However, we for one of our clients, it's been working
really, really well. Probably more than one, but this
particular one has been really, really working really well with
a low budget. When we push the budget, the CPA
starts to drop, but on a low budget with a really high CPA
targets, the CPA is cost per acquisition.
It's a low budget, high target. We're getting a really good
response from there and it is nearly as profitable as
Performance Max, which is very exciting.
This is interesting then. So there's a big debate.
If any of you guys have run Google Shopping campaigns,
you've got ages, you're running Google Shopping campaigns,
they'll probably using Performance Max or standard
shopping, probably Performance Max Performance Max works across
every single channel. And we then have this big, not
so much debate, but we do this big test internally.
Then with performance Max, do we want to have what's called a
blank asset group? So the only assets we give
performance Max and give Google to run on that campaign is your
product listings. It's the same as they appear in
Google shopping, but then they can still appear in display or
on YouTube advertising and Gmail inbox ads and and other Google
channels. But it's always going to be
product focused. So when someone clicks through
to the site, they've seen the product, whatever channel they
found that on. However, one of our clients and
we've actually found we think the perfect mix then of having
both one asset group full of assets with videos, images,
headlines, descriptions, site links and all the other things
to make as many ad ad variation combinations as as Google wants.
And then also having that blank one to only run the Google
Shopping feed. And by having both one of the
asset groups is doing more top of funnel ones, doing more lower
funnel. And for so many clients that
doesn't work, but for one particular client that does.
So the learning here really is go and have a look at your
performance, performance Max asset groups and go, have we put
in all the information? Have we put in not much
information. And most importantly, if we
tried both of those just to test which one works best for our
ROI, you wouldn't believe how many accounts we audit here.
When we get somebody reaching out saying, hey, interested in
working with you guys, We have a look under the hoods.
We've got I think 5 going on right now and they're all quite,
they're all quite exciting. And two of them are in the US,
three them in the UK. And we find that all of them
have a either blank asset groups or all asset groups with all
assets in them, all of those different bits and pieces.
And we tend to find a complete mix as to which one works best
and which one doesn't. So something you absolutely need
to test. But for this client, having one
full of assets and one blank seems to be the winning formula.
And that is the force that we're going to be moving forward with.
And we're moving forward at great Force.
Amazing. So the next one.
And then we've done loads of testing on this.
We've actually got some case studies on Trustpilot's website
now where we've worked with, worked with some of our clients.
Customers have left great reviews, but none of the great
reviews are actually embedded on the website.
And then when we've tested it, so one, one of our clients,
Angela Reed, I know you guys listen to the show.
So hey, one of my favorite clients, obviously, as I'm
shouting you guys out, you guys are actually great, great to
work with. And we've, yeah, we love the
journey we're on with you When we tested changing the
Trustpilot widgets with 111% uplift in SEO revenue and 64%
uplift in PPC revenue. I know I've read those stats out
on the podcast before, but have a look at your review content
and have a real think about, OK, we've got these amazing reviews
from our customers. Are we actually telling new
potential customers, hey, we've got this amazing review, We've
got these amazing reviews over here.
So go and have a look. And if you're not, obviously
test it. When I say test, literally use
an AB tool and have the review showing on one version and the
reviews not showing on the other.
I'm pretty confident that I know.
So it's not a binary have them or don't have them.
It's where you put them, how big they are, how many you display,
whether you display All Stars or just five stars, whether you put
them above or below content on collection page and product
page. The reason you have be tested
though, is to fully understand how important those reviews are
to your customers. I just wanted to interrupt
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clients, we had no uplift when we first installed it and we're
all scratching our heads going surely it's better like look at
all our amazing customer reviews and one version has got no
reviews at all and one version has got all these amazing
reviews on there. And we're five star company.
I think literally we're five star on, on Trustpilot, which
means they've got no negative reviews or so few that it's
still 5 as, as an average and they weren't on there.
We added them and there was no uplift.
So then what we did is we changed the way they look,
changed positioning and move them some pages, move them
further down where we think it's not the most important thing
here because we don't get much landing page traffic to that
page. And then we had a 20% uplift in
revenue by by moving them. So again, proofs in the pudding.
If you test it, you can understand how important it is.
And then we can do over time as you can say, OK, these eight
things we've tested, five were really important and three were
not. And then you know from a content
point of view, the winning formula of this is the right
content to have on each page of our website.
We should push this and we shouldn't push this.
And that's really powerful place to be from a marketing
perspective. So next one down, do, do, do,
do, do. So when you run CPA targeting on
a campaigns that's cost per acquisition.
So you're basically saying every time I get a conversion and you
set your conversion up probably as a purchase.
If you're listening to this podcast, we do work a lot with B
to B brands. We do 50% of our business is, is
lead generation mostly for B to B and some B to C.
But with CPA targeting for you guys in the Shopify world, it's
going to be purchase. So we found that actually you
can set, obviously you can set ACPA target at ad group level.
But we found actually, if we set an umbrella one at campaign
level, Google then has a remit to say, right, I've got 20 ad
groups here. But because the CPA targets set
at the umbrella level, I'm going to shuffle budgets between the
ad groups or spends between the ad groups a bit more to go.
This one's converting at a really low cost per conversion
to help me hit that overall target.
So I'm going to spend more on these ones.
And we found actually that umbrella target for this
particular client worked a lot better than trying to
micromanage them individually. And the umbrella is where you
set it at campaign level. And then all the ad groups have,
say you set it at £50 per acquisition for a new customer
or just for a customer. And then you find that every ad
group is set of £50.50 pounds, £50.
That worked better than when we tried to modify the individual
ad groups to say, well, this ad group here, let's go 42 lbs
because it's working well. This one needs to be 60 because
it's hardly showing because the CPA is too low, the CPA target.
So that umbrella CPA targeting when you're using CPA targeting
on a search campaign seem to work much better than individual
ad group ones. And I'm trying not to get too
technical. My team are very technical, as
you can tell. They're lovely people, They
communicate well. But yeah, they've gone to town
because this was for me to look at.
I'm trying to digest these as we as we go through and the more
specific the keywords for higher our conversion, the more, the
higher our conversion rate, which makes sense.
This was for a, it was actually for a hotel company rather than
an e-commerce site, but they were still booking a hotel room
and paying for it. There's still an e-commerce
revenue value there, but it's for a hotel room rather than a
product. But this one in particular is
when we when we looked at the keyword list that was working
about probably about three or four months in with this client
luxury hotel and then the county or state that they're based in.
That is the best keyword that we've got when we just have
luxury hotel, we just have hotel in their county not so targeted.
There's lots of cheaper hotels in there state and also just by
searching luxury hotel, it was too broad that that's we don't
know where people want to travel yet.
So adding the location in seem to work much, much, much better.
And the conversion rate in my notes is 40% higher when we did
a more specific keyword. So I mean, I've been doing this
just over we worked out today, 1st of July was 18 years and
been working in PPC advertising and a little bit shorter in SEO,
but still I think it's about 16 years in SEO, but 18 years been
doing it. And that was one of the first
things I was ever taught is find those long tailed niche keywords
to go after within performance Max.
You can also look at your search terms.
You can add negative keywords to performance Max now as well.
So looking at what people are searching to find you is really,
really important. The power of whether you can
just, while we're on the topic of keywords, the power on
whether you can scale a business and scale it linear.
So I spend more and I make more. Otherwise you're going to spend
more and you make a bit more and then you kind of have to improve
other stuff. The the scalability of a
business is all based on conversion rates and based on
ROI. So the more money and revenue
that you can make from every customer that comes in every
pound of dollar that you spend, the more you can make from that,
the more you can scale, because the more you scale, the more
generic the keywords are going to get, the bigger the markets
you're moving out of your niche as you try and spend more on
Google ads. So getting some of those
conversion exercises and AB test just as part of what you do from
the earlier days is going to help you scale with so many
businesses that come to us. And we love you guys and takes
us a little while, but we, we do, we do crack this, which is
like, I'm spending 10 grand a month.
I want to be spending 50,000 a month.
And it's like, OK, we can spend $50,000 a month right now.
We probably can't even spend it because we couldn't get the
conversion. So the campaign wouldn't even
run because we couldn't get enough revenue from it.
So we need to build brand credibility and to improve that
conversion journey on site and run a lot of tests.
So again, that luxury hotel and then their state or their county
if you're in the UK, that keyword was the best one for
this particular hotel, which is interesting because they hate
calling themselves luxury, but the keyword works.
We just don't use word luxury in the adverts.
We still got that brand awareness across competitor
campaigns. I love these.
So competitor campaign is where you say, all right, we are.
I use Nike and Adidas all the time.
So think of a different analogy. OK, I'm looking for a Dell
laptop and, and I'm sorry, I'm selling Dell laptops.
So when people are looking for Dell laptops, I'm Dell.
Come to me. However, when people search for
an Apple MacBook, they might actually end up buying a Dell
laptop if I tell them why Dell laptops are better than Apple
Macbooks. So a competitor campaign is
where we put the keyword in as Apple, we might put it as Lenovo
and it's the same operating system.
We want you to buy a Dell, not a Lenovo.
HP Packard Bell. Do they still exist?
That was my first ever computer. It was a Packard Bell and it was
in two bits. It was a separate screen to the
actual desktop bit and but when people search up all those
compressed to brands, you have those brands as your keywords
and then you have an advert that talks about why you're better
than them. So if you have an ad group for,
for HP and say HP have got this lovely new touchscreen
functionality, I, I use Mac, I'm afraid so I don't really know
what's going on the PC. Well, but, but say you use, say
on the HP, you can use a pencil to draw like you can on a, on a
MacBook, Sorry, on an iPad, you can draw on the screen and that
sort of stuff. But actually, everyone's
complaining about it. Again, data is king here.
Everyone's complaining about it, but they're not complaining
about the Dell ones. They're saying Dell, it actually
works and it works really, really well.
So anyone looking for those models of HP laptop where we're
getting bad reviews, we could say something about ignore all
the bad, you know, don't go with a laptop that has bad reviews or
we are the most, most or highly rated or best reviewed or best
or five star reviews on our new Dell touchscreen laptops,
whatever it might be. So have a look at your
competitors and think about what can we do to fight them and run
ads on them. Equally, some brands we work
with have a truce where they've actually reached out to their
competitors and said, look, we're all just going to make
Google really rich and clock up loads of advertising spend if we
all start targeting each other's names.
So actually, let's all agree we're not going to target each
other's names at all. And let's just go after normal
non brand traffic that we want to we want to target.
Cool, right next one. This one's quite long.
This is from, I should be reading out names, by the way,
say the first one was from Daisy, the rest are from Dan.
This one so far, this is from some of the guys on my BBC team.
This one's from Ruby. So this one is when adding
budget to P Max, the ROI keeps decreasing instead of
increasing, which is what we want.
So we're looking at how much is being spent on products versus
other areas. And we saw a big imbalance.
That's as I was explaining earlier with the asset groups.
If you put images and videos and other stuff and Google's going
to advertise that and people can click on those and you've also
got your product feed in P Max and people can click on product
ads when they see those. And we realise actually not a
lot of people are clicking on product ads whatsoever.
So the solution, and Ruby only started this literally last
week. So on the the result it says too
soon to say, sorry Nick, that's fine Ruby, we'll let you off.
But what it says in here is that the Ruby's then moved all of
those products out of P Max and put them in a standard shopping
campaign. So what's big question then?
What's the difference and why should I care?
Even if you know the difference? Let me explain why.
There's a power in that. So P Max can run across every
single channel and it will make its own assets.
That's right, Google's your creative director now, which is
a terrible idea. Sorry, Google as some one day
they're going to send a hitman after me.
I've badmouth Google and Meta and other people so much over
the years. And but Google will then start
making their own visuals, their own ad copy, which they'll take
from site digest it. We all know how bad content
writing from AI is at the moment.
There's a few good streams and niches of it, but generally
speaking it's not anywhere near as good as human.
So standard shopping says to Google, the only ads you can
show are Google Shopping ads on Google itself.
So no YouTube display, Gmail, just on Google itself, just the
shopping ads. And I only want content to show
in those ads that I've given you via my product feed.
So we're saying to Google on this.
And this is, I had a quick look at this with Ruby when she was
setting up as well. We looked at the search volumes
on some of the keywords that we should be targeting on Google.
We were getting nowhere near as many impressions as we should.
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So it probably won't work on day one.
We're going to create the campaign, she's launched the
campaign, and the job then is just adding as many negatives as
possible to streamline the campaign down.
We also need to get some conversion data before we can
change the targeting. Say, just go after conversion,
say nice little quick win there. I'm just looking at the clock.
I'm probably not going to get through all 26, let alone the
second list I've got as well. But we'll get through as many as
we can. And this one's interesting
customers. This one's from Daisy.
In our team customers were more inclined to use free delivery
than they were when we offered them £5 off or £10 off.
The irony is delivery costs £4.50 so if we offer free
delivery it costs for that cost us £4.50.
But we get a higher conversion rate than when we give them £5
off the order which covers the delivery cost.
Or when we give them 10% off, which most people spent over
£100, which meant the 10% off is like 10 lbs plus on average,
which is really silly. So people are getting less of a
discount, but the psychology of free delivery worked better than
when we offered them a better monetary discount.
How silly is that? Customers are so illogical and I
love examples like this because it actually starts to show that
people are really logical and really irrational and really
lazy. You just need to make it super
obvious for them, right? So Elliot from our team then.
I've only got stuff from four of the team, and I was about to add
stuff until I saw cool. So on this one in particular, So
wine client, when we started targeting cases of wine, so 6
plus bottles, I think that is, yeah, 6 plus bottles.
When we started targeting cases of wine, even on the single
items we put on the Google Shopping listing, buy a case or
part of a case. There's one bottle, but you can
buy it in a case. I think we put single or case
that started increasing our average order value
significantly, encouraging customers to buy 6 instead of
one or two or building their own box of six.
It was like buy a few boxes of 6 and more people were doing that.
We also wanted to stand out against competitors.
So another thing that Elliot did and again, I remember chatting
with the client on this Matthew, who I think you listen to the
show as well say hello, Matthew. And we actually have a few
Matthews as clients, but Matthew from from the UK, we started
putting top rated and this is the one that we rated the top or
he rated. Matthew thinks this is top rated
product. So top rated big red wine case
is one of his headlines. Click through rate and ROI has
really increased quite dramatically.
And we're going to stay with Elliot for a few more than we.
He then took the same approach across other wines in the group,
which is the next one down. Again, really started to work
well and selling wine in the UK instead of just saying like this
is a rose or a blush, actually calling it American gold country
is one of the brands or one of the things he's put on there.
And we he's also added bestseller, which he's put in in
bold here because that is one of the best selling products by
calling it bestseller. Oh, that's exciting.
Best selling wine. I'm into my wines and I want to
buy some wine. So bestseller seems to work
really, really well in the Google shopping title for some
of those products. And we'll do one more from your
list as well. Elliot Budget was being spent on
products that were not performing similar to the one
that Daisy mentioned earlier. We've actually then Elliot has
then split them out into not into different campaigns for
different asset groups. So the the stuff that's working
well and is quite high is all in one asset group and then we've
got another asset group where it's low.
And Elliot's put in the notes here as well that the campaign
has started to spend more, which is one of the challenges.
And we're getting a better ROI and the low is now doing the
opposite, which is good. So the spend on low has dropped
quite significantly. He's also mentioned he's
actually splits the campaigns now to control budgets.
Again, some of those breaking down P Max campaigns into
smaller campaigns works really well.
Some of us put them together works really well.
But again, my whole message today is the devil is in the
date is in the detail and the data, right.
Let's get a few more from some of the other people in the team.
Now. Another one of broad match
keywords where we tested it and we're getting, we've actually
put, so running a campaign with broad match keywords targeting
maximized conversions and then also putting a very, either
maximized conversions or a very low CPC.
We, we've done this quite a lot over the years to say to Google,
you can send loads of generic traffic like, you know, if we
sell clothing, just send the word, you know, the word
clothing. Let's just appear for that.
Or T-shirts, let's just appear for that.
So what we'll do is we're going to have such a low cost per
click that actually we can get thousands of clicks very, very
cheaply. So we only need one or two
orders to make it profitable, which is the opposite of all the
other stuff I've just said about working in niches tend to find
one, one extreme is better. Either get loads and loads of
really cheap traffic or actually let's pay more for our traffic
to get high quality traffic that we know is going to convert
really, really well. So either works from a total ROI
perspective. What you don't want to be doing
is trying to bid in the middle with people half mass market,
half nor or trying to over bid for mass market or under bid for
the niche stuff. That's where you're not going to
get the ROI. It's just not going to work.
Let's have a look at some others.
One of the new clients we took on board, we added price assets.
So when P Max then runs a text ad for something somebody's
looking for, having what's called a price assets, these
called extensions makes the, it actually makes the, the advert a
little bit bigger, doesn't cost any more per click.
But those price assets being able to say, you know, this is
the price range of this particular product you're
looking at. Or if someone's looking for, I
don't know, office desks, we can say £150 to to 10 to 10 grand
for a single desk. Or we could say our desks range
from range from £1000 to £15,000, which then means if
someone's going, I just need a desk for £80 or $100 or
something like that, Don't come to our website.
We're too expensive for you. So we don't want to pay for the
click when they're too expensive.
There's actually a note on another one a little bit further
down on that exact point, which I just want to emphasize because
this is really, really important.
Not so much in Google Shopping, you can't do this, but certainly
in text ads, display ads, video content that you create.
Sometimes getting a balance between the people that we can
help and also actually talking in your ad content and your
advertising and marketing about the people we can't help can
also be really, really powerful. We work with an insurance
company here in the UK. They insure cars and lots of
stuff to do with the motor industry or automotive, as you
guys call it, The automotive in America.
That's the end of my American accent for the day, but
automotive, you guys call it. The interesting thing we've seen
with these guys is when we got a list of all of the lead, the
insurance leads that we generated for them, we looked
through all those leads and said, OK, can you guys add a
column to this spreadsheet and tell us the rejection reasons,
the reason that you couldn't offer them insurance or the
reason that you've rejected them as a customer?
And it was things like, OK, this person has been imprisoned
before. This person hasn't been driving
long enough, so their driving licence needs X years before we
can insure them. I think it was a mechanic, if
you're below the age of 21, we can't insure you.
And by adding some of those things into the actual ad copy
saying like, you know, we insuring mechanics for, you
know, insuring mechanics 21 plus four year driving or, you know,
21 plus or four years driving experience required.
And then but couple it with USPS, we we've had an issue with
a couple of clients, the password.
We've put so many kind of negative things in.
We're not actually doing marketing anymore.
We're doing what I'd like to call anti marketing.
We're telling you not to come and buy from us, but in in, in
in the retail world as well. Again, a lot of you guys, almost
all of you guys are on Shopify or similar e-commerce platforms
selling products, actually putting in a few turn offs or
even a turn off that looks like a turn on for a customer can be
really, really powerful. So a good example of this can be
that if your products are quite expensive, how do you get that
across without saying like our, our hoodies start at 200 lbs.
What you actually do is you say our hoodies are made from the
world's finest merino wool. That's a really good way of
opening that up and people will see that and go the world's
finest, it's merino wool. That's all really, really
powerful stuff. Anyway, let's go to my list
then. So I didn't add these into the
other ones. What I find interesting, we
mentioned about the products earlier and there was a 6030
split as, sorry, 2/3 and 1/3, not 63rd.
That makes 9066 and 34 would call it percent.
So 1/3 of the products were actually selling and sixties,
2/3 of the products getting all my masks wrong today. 2/3 of the
products that we were advertising and spending money
on, on our ads were not selling. I've called it the 8020 split.
I'd actually split your products by 80%, usually 80% your budget
probably on 20% your products and you need to work out which
20% to go after. Doesn't always work.
Doesn't apply to everybody, none of this stuff applies to
everyone, but something you should absolutely look at to go.
Is that a problem for me, yes or no?
The frequently bought together is incredibly powerful.
And when I talk about this, I'm not talking about maybe you
would add it to site and say this item's frequently bought
alongside this one. But actually what I, what I'm
getting at here is in terms of you knowing your data to say
people who bought this product also bought this one.
You can do a lot of work around audiences and targeting and
Google Ads to say people that bought a table lamp also bought
a bulb and bought a lampshade. OK, well, right now I've got
those campaigns split. So actually, if you're in an
audience group in campaign A, you're only going to see shades.
Actually, that's the in terms of cost, the bulbs the cheapest,
then the shade, then the table lamp.
So actually by having those things grouped together, both on
the website when people are browsing about to have like, you
know, pick a lamp, pick a shade, pick a bulb and bundle them
together. I know it can be quite clunky to
get bundling like that to work on Shopify, but it's so worth
it. Anyway, I've got time for one
more. We've got one minute and what
we're going to go for optimum product prices.
Really cool case study that I've mentioned several times and
we've done it more than once. We're about to do it again.
We have doubled the price of all of our clients products
overnight and lost less than 50% of our sales.
So now the volume of sales has dropped by say 30%, but our
revenue now is up significantly. So the 70% of sales that we
still have, we're making 140% of the starting point revenue and
we're shipping 30% less products.
We've got way more stock left after making more money.
There are apps you can use. There's a few that we're
endorsed by and have partnerships with if you want to
reach out and, and we can certainly make an introduction
or even get you a discount. I always say to people, never
buy any tech without talking to us.
We get discounts. We've got advice on this, but
the apps will take whatever your current price is.
That becomes the baseline price. And then what it does is it
keeps increasing the price a bit on each product to come back and
say all your products now have increased about $8 on average in
price and you're making more money.
And that is time up. I hope you've enjoyed today.
I hope it's been useful again, you guys reached out by popular
demand on this. If any of this doesn't make
sense, you might have a look at stuff.
Send us an e-mail. Hello at winning with
shopify.com. Share a screenshot of what's
going on. You Google ads and say, Nick,
this makes no sense. And me or one of my team will
pick it up and get back to you guys as quickly as possible.
Next episode, be out. This is Friday right now in your
world, not my world, but your world when you're listening,
listening to this, it'll be Friday's to come out.
We will have another Tuesday talks with a new title and some
really interesting news. Actually, it's been even though
it's only Wednesday that some recording.
It's been a really interesting week in the Shopify world.
There's loads going on. So make sure you check out my
little episode on Tuesday and we'll probably have another
guest again next Friday. Thanks for tuning in and we'll
see you again soon. Do you ever find that in your
warehouse you have dead stock? You can't sell it, no one wants
to buy it and you can't get a refund on it.
Or alternatively, you're missing inventory in your warehouse that
you need. You've got sales coming in and
you're low on stock and you haven't ordered more stock in
time. All these things hit profit.
And I've been there. I've run my own Shopify store
and had exactly that problem. But we've partnered up with
Inventory Planner who have the most incredible app to help you
manage that and forecast exactly what products, what skews even
down to what colour of products you need to order in advance to
make sure stock levels remain consistent through.
They're also running a seven day boot camp.
And if you want to go and sign up to that, it's 7 emails every
seven days and it takes the same amount of time as your morning
coffee. And in seven days, like me, you
can become an inventory management pro.
Both links are in the description.
Enjoy.