Business Notes
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The Power of Abandon Cart Email Sequence
In 2018 I thought it would of without saying the if you have an e-commerce store that you would also have an abandon cart sequence. What I am discovering is that many online retailers are still missing this as part of their sales funnel.
Why?
It goes without saying that your market attention is split in many directions and at the time they are browsing your store they are also looking at alerts from social media, emails, phone calls, texts etc. It is not uncommon for some to add an item in the cart and then leave the website to do other things. Most likely they will forget that they were on your website in the first place. That is why sending abandon cart sequences are so profitable. A simple email reminder at its most basic may be enough to get the prospect to complete the sale.
According to Omnisend, 2018 sending 3 abandon cart emails results in 69% more sales than sending a single email.
Imagine what all those other online retailers are missing that do not have an abandon cart sequence in place. This is where I think smaller store can really win. If a small Shopify store had an abandon cart sequence set up so when their prospects left items in their cart. They could save the sale and possible outperform other businesses that have a bigger budget but do not have an email sequence in place to handle abandon carts. I think an establish retailer could mop up all the extra cash that is left on the table because companies do not invest in having an email copywriter create their abandon cart sequence as well.
It takes a lot more than sending traffic from Facebook, Google, Instagram and Influencers to make an ecommerce store profitable. As long as these retailers continue to allow the leaks in their revenue from not having something as simple as an abandon cart sequence setup. They are leaving the door open for smaller and smarter retailers to dominate the market.
This week being the official start of the Holiday shopping season. There is still time for those that do not have an abandon cart sequence up and running in time for Black Friday/Cyber Monday. To see how you can have an abandon cart sequence created for your business contact me at lauren@storybrandstrategist.com.
Hustler Diaries: Hustler Diaries: Advice for copywriters and the mindset for business
How Secretlab is Leaving Tons of Money in the Pockets of Gamers
Warning : This is for the Nerdy Marketers who love gaming(Ok so you don’t have to love it ), a very comfortable chair and wants to learn how to pick up the money that Secretlab is leaving in the pockets of their prospects. Must Love SecretLab Gaming Chairs enough to care…
Gaming…Competitive gaming aka Esports is growing in popularity and as that market grows so will the demand for gaming chairs. Gaming chairs are chairs that are designed for comfort because when your trying to clock in your 3 plus hours of game time in Fortnite, Destiny, Call of Duty, Dota 2 , Halo 5, etc.
You want make sure that your rump back and neck don’t start to ache. So investing in a gaming chair especially if you play competitively is a good idea and it doesn’t matter if you play console or PC. Most gamers that buy these chairs tend to have the means to do so which is a big plus for our subject Secretlabs.
But Secretlabs which produces gaming chairs such as Omega , Titan and Throne gaming chairs is not fully taking advantage of one of the most profitable revenue channels…Email marketing.
I should know because I have my heart set on getting a Titan Gaming Chair and have been watching it closely.
(Yes, I do play games and I like being comfy while playing.)
I have yet to receive an email from Secretlabs even though have been a subscriber to their email list. I had to really search to see if they had an email sign up form. If one such as myself is going through all of that to sign up for emails to market their gaming chairs especially the Titan gaming chair. It is a good guess that I’m probably extremely interested in buying from them.
Now at the time that I signed up. The Titan gaming chair was not available so I figured.
“Let me sign up for their email list and they will let me know when the Titan is available again.”
That has yet to happen. Even if for some reason they decided to discontinue making that serie of gaming chairs they could have marketed the other chairs they had available. As it is I like the look of the new Omega gaming chair and wouldn’t mind having one of those.
Secretlabs isn’t showing any interest in my purchase so I forget to check them out. Which for them means they don’t get the sales and are probably losing out on sales because of their lack of email marketing. Now I know that Secretlabs has some PPC ads running via Facebook and Google but if you already have very interested prospects on your email list then why not use it?
But let’s run a little number example here. Keep in mind I do not know Secretlabs actual numbers but I want to show you what they are potentially missing out on.
So let’s see…
Secretlab gets about 20K in organic traffic last month August 2018 according to Ahrefs.
That’s a lot of people interested in gaming chairs and remember Esports and Gaming it’s growing.
Secretlab’s email signup form is hard to find so we can safely assume very few people are signing up on their email list.
So let’s say out of that 20K in organic traffic only 1% signup on their email list. That would be 200 prospects for signed up in August 2018.
Now since Secretlab is currently doing a Labor Day on their gaming chairs let’s see how much they would be leaving on the table with just this new group of 200 subscribers.
Let’s say that these new subscribers were sent the Labor day sales emails…and 5% made a purchase.
200 * 5% = 10 purchases for a Omega 2018 Gaming Chair Retail Price $319
10 buyer * $319 Omega 2018 Gaming Chair = $3190
That’s being conservative but let’s look at another example in which I am assuming the list size of Secretlab email list.
Let’s say Secretlab’s email list has 10,000 subscribers and assume that 5% make a purchase during this special Labor day sale announced in 1 to 2 emails.
10,000 * 5% = 200 customers
200 customers * $319 Omega 2018 Gaming Chair = $63,800 in sales from an email.
Of course I’m making a lot of assumptions here with the size of their email list which I don’t know. The email copy that will need to effective know how to sell to their list and the percentage buying but in my experience. Gamers tend to be hyper buyers. Anything to make our game time more comfortable and enjoyable. We will spend the money especially since Secretlab makes some really nice chairs.
In my assessment I think Secretlab is leaving a lot of money on the table by not attempt to use a email marketing strategy that geared toward conversion. By making it harder to sign up for their emails it means they will grow their email list organically a slower rate. Plus they are missing out on growing an highly profitable asset that they could leverage in other ways such as joint venture promotions. Also by not send emails on a regular basis to the list that they have now they are missing out on some sales which if they don’t act could very well turn into if it hasn’t already millions of dollars in revenue left on the table or should I say pockets of gamers like me.
However there is a simple solution to all of this. They could send me an email asking to chat about this and how they could set up a profitable email marketing campaign that will boost their revenue. I do have some other suggestions that could lead to some big wins for the gamers like me waiting on that email and also to Secretlab.
All they have to do is send me note at lauren@storybrandstrategist.com.
But hey I’m just a Marketing nerd who plays video games and loves to be comfortable while doing it. So if you like to see how you can grab those missing sales by turning your email list into a profitable asset then you too can send me a message at lauren@storybrandstrategist.com.
Until Next TIme…
Power to the Marketing Gamers.
The Video of the Year for The Story Brand Strategist…Watch and Learn
This video is everything and more. Talk about storytelling in such a way but yet leaving it up to interpretation. Every time you watch it. You will find something new. I think just about everything has a meaning. Donald Glover created this masterpiece and then released without explanation. He has people going crazy trying to figure out what he is thinking.
They want to know the reason why and if their take on this awesome video is correct. If you didn’t know who this man was which at this point with his successful show and the his new role a Lando in The Star Wars Movie Solo. Then you will certainly know his name. This video ha gone viral with over 4.5 million views and a ton of commentary. That is something to think about if you plan on using video for your brand. Can you tell a story that is so eye catching and makes the viewer watch many times over.
Can you create something that makes people want to discuss it and argue over it?
If you could would you want to. With this video came more criticism of Mr. Glover for some past comments and his current relationship. When you succeed in creating something like this you have to be ready for what people thought of you and judgement of your actions. It’s not easy but perhaps the sweetness of the fruit of PR is worth it. I think this video was important and will be in the future because while Donald Glover isn’t promoting a famous brand he is promoting Donald Glover and a version of America that seem all too realistic.
Eh’ maybe it’s just me going too deep on this video.
What do you think?
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Story Brand Strategist Hustler Shorts: Tips and Tricks for Marketing and Selling More
If you love reading this blog then you’ll enjoy listening to the podcast Story Brand Strategist Hustler Shorts.
Listen on itunes to the show that gives you quick actionable tips to increase your sales and fine tune your marketing campaigns to grow your business.
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How Comic Bento and other subscription box companies leave money on the table
Subscription boxes are very popular with many including myself becoming subscribes of different boxes. Having the perfect little monthly or bimonthly gift to yourself to gush on your favorite activity, fandom, hobbie or to take care of a basic need without it having to occupy precious space on your to do list such as dress socks is why many consumers love the model. The companies producing these boxes have a steady flow of customers every month in which they can focus on things like acquisition of new customers and pleasing their current subscribers.
However many subscription box companies are leaving thousands…and in some cases millions of dollars on the table by not employing a very simple strategy.
Email Marketing to their paid subscriber list.
Subscription box companies are always on the hunt for more subscribers. It’s the nature of the beast because just because they a business model that has a more stable revenue flow doesn’t mean that your current subscribers will stay subscribers forever. The average for most subscription boxes to keep a subscriber is 3 months which means that most companies using this model have to keep bringing in a certain amount of new subscribers every month to make up for the ones they lose.
More time and money has to be spent on marketing to attract and then sell potential subscribers on the product. It would make sense to offer current subscribers more offers on other products while they are still subscribers.
A carefully created yet simple email marketing campaign sent to current paid subscribers could boost monthly revenue for a subscription box business easily. Most companies don’t do this and therefore miss out on the extra revenue that they could have made from their very own buyers lists.
For example: Comic Bento a comic book subscription box service where I am a currently subscriber.
Every month they send me a box of comic books based on a theme that they choose. I pay them their fee and they send me my mystery box where I get to discover what’s inside.
It’s a very simple model and I have been a subscriber for over a year and the only emails I get from them as a paid subscriber has to do with my order. Think of all the potential sales they could have gotten out of me had they tried to sell me something else?
In the comic book/nerd/pop culture geek niche there are a lot of hard core fans that would love to throw their money at anything related to comic books and nerdy collectors items. After all it is why events like Comic Con do so well because there are nerd like me that will spend money to go and spend money buying merchandise while we are there.
Given that, why doesn’t Comic Bento who I first found while attending NY Comic Con in 2016 not use email marketing to sell me more stuff?
They could have easily sold me hundreds of dollars of merchandise is they wanted to over the time I have been a subscriber but they didn’t and if I choice to no longer be a subscriber next month then they will lose the chance forever.
If I spend $300 a year with them as subscriber.
I pay $25 a month on that monthly plan.
I am a subscriber for 12 months.
Comic Bento makes gross revenue $300.
They could have easily especially in the niche they serve could have increased my spend with them by at least 50% or more had they offered me something else.
So let’s say that they left $150 on the table because they didn’t use email marketing.
That might not seem like a lot but that is just one subscriber who has been with them 12 months.
But what if it were X more:
10* $150 = $1,500
100 * $150 = $15,000
1000 * $150 = $150,000
10000 * $150 = $1,500,000
However having a subscriber for 12 months is not the norm so let’s do the math for the average time someone stays a subscriber which is 3 months.
Let’s say $37.5 is the average I might have spent had they emailed me other offers over the course of 3 months before I unsubscribed. (Remember this is a comic book company Comic Bento.)
I pay $25 a month on that monthly plan.
I am a subscriber for 3 months.
Comic Bento makes gross revenue $75.
But what if there were x more like me:
10* $37.5= $375
100* $37.5 = $3,750
1000* $37.5= $37,500
10000* $37.5= $375,000
So even if there only 10 paid subscribers like me on Comic Bento’s list that bought from them. They still would have made an extra $375 in gross revenue had they used email marketing before those subscribers cancelled their subscription.
Now in the first example I mentioned that I have been with them over a year but just estimated the amount of money they have left on the table with me being a subscriber for 12 months. ($150) Now if there were just 10 more like myself then they have left at least $1,500 on the table.
Email marketing could have increased the revenue of this company without them worrying about additional cost on PPC traffic. They could have made thousands of dollars very easily with email marketing to their paid list but they didn’t and since I am still a subscriber. I can tell you that Comic Bento is still making the same mistake.
The question is will other subscription box companies continue to leave money on the table or start using email marketing to increase their revenue?
To learn how you can use email marketing to increase the revenue of your company.
Contact: lauren@storybrandstrategist.com
Why I don’t Teach The Hero’s Journey for Writing Email Sales Copy
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Hello my Unfollowed, Depending on how long you been on my email list you may have noticed that I have yet to go into the whole Hero’s Journey thing. This might seem strange to you especially since I have rarely used the term Hero in my emails even the ones that are based on comic books. Right now I am going to tell you why that is so that you don’t get duped into some B.S that a lot of internet marketers are pushing when it comes to using story and The Hero’s Journey. First off the Hero’s Journey that they like to talk about is a lot more complex. They only give you the Hollywood version of it. Which is fine until you realize how many flops on the Big and small screen there have been even though everyone is using the same formula. Two the way I have seen marketers teach it. It is missing some key points which could be critical when it comes to creating over content especially content that sells. Three The gurus and experts on this in the marketing world all want you and force you into fitting everything little thing into this template. That is another reason why so many experts and influencers sound the same. Sounding the same as every expert in your field will help ensure you go out of business especially when the next big internet crash comes. Story is so much more than the Hero’s Journey and you can use it to build your brand and sell a ton more of your stuff if you learn to do it the right way. Cramming everything you got into this template is not going to help you make more money when the bubble bursts or when your competition get some celebrity/influencer guru endorsements. Besides why stress yourself out trying to do that when I can show you a better easier way to use story in your emails to make them sell? You got a list of people that subscribed for one reason or another and I can help you discover ways of tapping into their problems, joys and curiosities using story selling and help you turn them into buyers. A big claim I know but I got quite a few marketers that have used my ways to make more money in their businesses as well as a few entrepreneurs that were struggling to figure out what to write about to their list until they implemented some of my proven ways. To Learn more about them or to possibly work with me. Join my email list by signing up below.
Lauren The Story Brand Strategist |
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Fast Cash System Training
Now there are many ways to get cash Fast…Dealing Drugs is said to be one of them but I’m not here advocating you go down that or any dark path to get what you need or want.
There are other ways to get the same result. I had to figure out my own way of doing it even though it was a pain in the butt and took some time. I discovered a way to create a Fast Cash system that works for me and apparently also worked very well for one of my old clients.
In fact when I applied my Fast Cash system to his business he added a cool 12,453 in extra sales.
So yeah I’m pretty confident that my system works well and I designed it so that you don’t have to be a good copywriter to make it work for you.
Because I like things being as simple as possible and I continually refine this system so that it gets easy to plan and implement each time.
I never taught this system to anyone including my subscribers but for the first time on Friday 12-15-17.
I will reveal my Fast Cash system and do it with a live example. It is not something that you want to miss and for $99. Is a very small price to pay for a system that brought in over 12K for a client within 4 days.
If you want my Fast Cash system and the ability to ask me questions while I’m doing the live training or you just want the recording then click the link below.
https://storybrandstrat.samcart.com/products/fast-cash-system