Ecom 10X ROI Cheat Sheet “Marketing” It’s the one thing that most entrepreneurs THINK will be a magic bullet for their business. But the one thing so few manage to figure out. At EC Accelerate we STRONGLY agree that executing EVERY important part of your business in a succinct order makes the next part not only easier, but possible. So what is the basis of a great marketing campaign? Is it FB ads? Is it Copywriting? Is it a great sales funnel? While these things are the ultimate tools we will use to make sales, it is NOT the basis of an amazing marketing campaign. So what is it? The biggest thing that GUARANTEES a super profitable marketing campaign is if you’ve done a great job at your customer research and customer development, which means that you in turn will have built the EXACT features that your customers want into your product and you know how to sell it to them. It may not be the most glamorous, but it’s extremely important. And the thing that our most recent 7 figure campaign did EXTREMELY well which paid off. They get an A+ on their customer development work which led them to have VERY strong PMF (product market fit) out of the gate. Understanding WHY your customers are buying, WHAT their biggest questions are and HOW much they want to pay for your solution makes literally every other function of your business better. So for people who are usually struggling to market their product, they usually score within the D to C range of product market fit which turns making massive ROI into an uphill battle. BUT If you pair ninja marketing tactics WITH a great product is when you are poised for 10X ROI like our crowdfunding campaigns average. So for members of our free content package here are some of the basics of a few of our marketing techniques. The Importance of Copywriting The importance of copywriting and knowing your customer segment across all of your marketing. Marketing Tool 1: Landing pages The first mistake that most people make when trying to get positive ROI from ad campaigns is not having a landing page. The second biggest mistake they make is only having one landing page. The third is having an over complicated landing page. Let me explain. You can NEVER expect to get positive ROI on a campaign without a landing page that is specifically tailored to your ad campaign. And if you happened to uncover a niche where you were getting positive ROI with your normal shop page, then you would still get better ROI with a landing page tailored to your campaign. Most people don’t realize how simple a high converting landing page can be. Here’s an example of our member company Artem Charta (Website / Crowdfunding Campaign) IMAGE: Artem Charta - Compare and contrast old LP to new one Version 1 (below): Version 2: So which landing page works better? Believe it or not, we consistently see SUPER SHORT landing pages that cut to the chase and clearly explain the value in a clear succinct way convert up to 2X better. As long as you are effectively targeting your audience with the right ads, then a simple landing page will work wonders. The average ad funnel using our marketing guidelines gets a 40% conversion rate to subscribers. The reason we achieve this is because we look at the funnel as a whole and plug in our customer development work to write good copy for our audience. This usually creates a funnel that looks like this: Ad - 5% CTR Landing page - 40% Conversion rate to email subscriber Sales funnel - 5% conversion rate to purchase for $100+ products. If your profit is greater than your ad costs (which is usually the case in situations like this) then you can scale up your business. Simple as that. Marketing Tool 2: Ads Most people think that if they are great at FB ads then it will solve all of their problems. But as we’ve reiterated a few times already, it’s SO important to make sure your entire marketing and sales funnel works together in unison. Only then can you expect to get unheard of ROI numbers like 10X, even while FB ad costs have skyrocketed and most people can make positive ROI at all. It’s important to remember that being great at FB ads is only one part of being a great Ecommerce entrepreneur. And creating great Ecommerce entrepreneurs is what EC Accelerate is best at so here’s a preview into how we do our ads. Know Your Audience We use a few tools to do DEEP research on our audience so we know how to not only target them extremely effectively, but also how to write copy so specific to our target audiences that they have no choice but to take notice of our brands. We then use simple “value based copywriting” tactics to make sure that we are appealing to our target customers selfish needs. Always think: what’s in it for them? Deploying Your Ads The key is to make a few key assumptions about what you think might work best. So we take educated guesses about what we think our audience will like best. Then without delaying, we TEST IT using very small budget to see early indicators on whether or not our ad will be a winner with our target audiences. The 80/20 rule plays a HUGE role here. Most of your ads will NOT be winners. But a few will definitely have potential to generate profit. So naturally, we double down on our ad sets that have potential and take it one step at a time. Want to 4X the effectiveness of your landing page? Easy. Double your click through rate and double your on page conversion rate. A few ways to double your CTR: -Write more specific ad copy to the audience you’re targeting -Update the text on your image to be brighter colored -Responsibly* use trigger words in your titles like “Free, exclusive, instant, you, rapid, save, stop, $, numbers etc.) -Change your ad targeting to target a more specific audience A few ways to double your landing page conversions after your ads are live: -Tailor the copy on your landing page for the specific audience you're targeting -Add additional CTA’s like an exit popup or scrollbox -Make CTA’s clearer and remind visitors of the value ($20 gift card, 20% off, or product value) With our framework every KPI (key performance indicator) is tied to an action. This makes it very easy to diagnose problems that could be happening with your ads. Here’s a great example of these principles in action with our member company Riderbuds (Crowdfunding Campaign) Example ad template: Here’s a sneak peek at one of our proven ad templates that use one of our formulas proven to outperform average ad copy. Notice how it is VALUE based and focuses on what is in it for the customer? As we continue to test different ad formats with all of our target audiences, we begin to zero in on what works best for our audience and then continue to use that language across all of our marketing copy. Do you notice how the RiderBuds ad focuses a little bit more on the product? That one uses product focused copy which in certain situations, especially in highly passionate audiences, works better. Through testing, we were able to zero in on this, which is one of the main things that led it to $111K in funding. Marketing Tool 3: Marketing Automation This is the content that we are MAJORLY bolstering for 2019 because with our most recent tests the more you focus on marketing automation the more sales you make. Simple as that! We always start with SIMPLE and move to more advanced as you improve your business. It’s incredibly important to start with a system that is simple enough for you to execute on and build, get a baseline of results, THEN focus on making key improvements as you watch your ROI get better and better with every improvement that you make. Here is a sneak peak at how one of our baseline sales automation workflows looks from one of our star companies KANE Watches (Website) Keep in mind, it’s imperative to make your email funnel directly correspond with your landing page. Your landing page is what offers the value, and your sales funnel needs to first deliver on the value you offered with your CTA on your landing page. KANE started with our elegant gift card CTA funnel and plain and simple explained the value of the product on the landing page and offered a gift card towards a purchase. Funnel: Opening Email / Deliver Value: Title: Thanks for Signing up! Here’s Your $20 Discount. Add value emails / Focus on Unique Selling Points: Email for USP #1: Explain your first USP and why it benefits your customer. Remind them about their voucher and that it will expire soon Email for USP #2: Explain your second USP and why it benefits your customer. Remind them about their voucher and that it will expire soon Email for USP #3: Explain your third USP and why it benefits your customer. Remind them about their voucher and that it will expire soon Close: Scarcity - focus on expiring voucher This funnel gets more advanced over time as you apply the framework, but believe it or not this is more than enough to get started. This is a sneak peek at one of our basic funnels that work to build long term value into your business (by building an email list of people who will continue to buy over time) and short term value by adding scarcity into the situation which will get a % of new subscribers to convert NOW. This ALWAYS leads to much higher ROI and sustainability than running direct to sales campaigns and not building an email list in all of our many case studies. Conclusion As you can see as we’ve shared some of our simplest strategies with you, it’s NOT about reinventing the wheel. It’s about being a 3 steps ahead of the rest of the market. While they are doing old strategies with diminishing returns, we continue to increase our returns as we engineer and implement new strategies and continue to rely on tried and true techniques. We just modify what we need as we constantly test and get new data and share strategies with our EC Accelerate community. For example, email funnels still work and get massive ROI. But not exactly how they did even 1-2 years ago. If you’re still doing it that way you’re likely to lose money. While most people continue to do it the old way and complain that they aren’t making sales, we engineer the new strategies that are working for physical product insiders that are crushing it. So make your decision. Do you want to be part of our group of elite entrepreneurs and coaches, or do you want to continue trying to do things the old way? We hand pick who we allow into the program, so make sure you apply to the program by reaching out and letting us know your goals.
