Transcription
This will be a full no-guide on things you can do to make more money on your Shopify store. In other words, increasing your conversion rate. In our case, we have a 7.4 conversion rate on the store yesterday, which made 5K in one single day. This is three times higher than the industry average. And this means that out of 100 people who visit our store, 7.4 people buy. That's very high. And this is also part of the reason why yesterday we made $3,000 in pure profit with this product alone.
So the question is, how do we do that? Well, first things first, I have to emphasize here that the design of your store doesn't really matter that much. It is not connected to how we designed the store, how the logo looks, and also how the coloring scheme is. We've split-tested all these things and we noticed a good logo versus a bad logo doesn't really change anything.
So what actually makes more people buy? Well, it's basically the offer. The main thing you can do is change up the offer in a more compelling way to get more people to buy. Probably the single most important split test you always have to be doing is your product price. If you are selling your product for, let's say, $29, you just assumed that that is the best price. You don't know if $31 or $28 is going to perform better. So that's something you have to split test. And the ideal way to do that is just add $5 and you subtract $5. So if you're selling something for $29.99, you're going to split test $34.99 and $24.99. And then you just generally see what makes you more money and then you can just adjust because $1 differences matter a lot.
The best way to do this is the app called Intelligence AB Testing. It's one of my favorite apps and we're constantly using it because what it does is basically it sends 50% of your traffic to one website and then 50% of your traffic to another one. And then you can just do one single change in there. So, for example, the price or the headline or whatever it is.
So the main objective you should be having is not guessing anything. The first thing you did was just randomly price your product somehow. You did free shipping, you did one certain upsell, you did one certain price, you priced your upsell in a certain way. These are all guesses, right? That's good, but you have to change it up to see if your guess was good or bad, obviously. But none of you guys are doing that, which is wild to me.
And the second thing I noticed what most of you guys are doing is you have a product price, let's say $49.99, and then you have free shipping. And then maybe some of you guys have like a post-purchase upsell. So after somebody bought, you offer them something else. And that's basically it. You would be shocked on how much more money you can make if you chunk up your price in different segments. What you can, for example, do is you can price your product instead of $44.99, $19.99. Obviously, if you do that, you're going to have way more add-to-carts. Now, profit margins are going to drastically decrease if you only do that. Well, that's why you don't only do that, but you do a few other things, which is, for example, you add a checkbox upsell on your product page, which is already automatically checked on for, let's say, $4.99. If a checkbox is already checked on, 70% at least take that checkbox because that's the path of least resistance. They don't have to press anything, it's just already in their cart and they buy it. This is something which works incredibly well.
Then on top of that, you have a pre-purchase upsell popup for, let's say, $9.99. And if you do that right, you can very well reach up to a 50% take rate, which means that you're going to add another $5 on average onto your average order value. And if you compare all of that with a shipping setting for like $4.99 or $9.99 or something along those lines, and then also have another $20 post-purchase upsell, and then even have a few downsells after that, you're basically going to have the same average order value as on the first example, but you're just going to have so many more sales because people are in this "yes" loop. They already took the product, might as well buy this extra small thing.
Most of you guys are not chunking your price along the funnel, but you just want to have the money right away from the product price, which in a lot of cases, it's just a mistake. And in rare instances, that is the best way to do it, but you don't know that because you didn't split test both. If you're making money with your dropshipping store, it's just ridiculous to just keep the same offer as you had in the very beginning till the end. That's insane. And again, these are the things you need to be split testing, not your coloring scheme. Design starts to matter after you make 100K a month. After you do that, go ahead, play around with your design because don't get me wrong, it's going to increase the conversion rate a little bit, and on a 100K month, that actually can make quite a bit of a difference. But in the beginning, it doesn't matter.
The next thing is your reviews. And here, it's very important to handle as many objections as possible. My favorite framework is this one: "At first I thought X, but it is Y." So what's the goal here? Well, at first I thought some common objection. If you're selling resistance bands, you're going to say, "At first I thought they're going to rip super easy or they're going to leave blue stains on my shirt." Whatever the common objections are, you to say, "That's what you thought, but it is the dream outcome." But it actually never ripped, but it actually never leaves stains, but it actually never feels weird on my skin or doesn't leave rashes.
And how you find these things out is by looking into your niche and searching for bad reviews from other products. So, for example, if you're selling resistance bands and you go on Amazon and sort everything by one-star reviews, you're going to find out really quickly what the most common things are which people have experienced. Think about this: people are usually not the first-time purchasers in your niche. They already tried a bunch of things to solve the problem which you're solving. But now you just come out at them saying, "Alright, your product is so much better than the other ones." And most likely they got burnt by other products, etc. So make a huge list of objections why people are not buying your product. Ask people you know in the niche what they know about this product and why they wouldn't buy it.
And a little pro tip here as well: objection handling in reviews is more powerful than objection handling in your product page generally because reviews seem seem a little bit more honest. However, everybody knows that you can still fake reviews on your product page. One layer above that is the comment section. So, for example, if you're doing organic dropshipping, having good comments in terms of handling objections below your call-to-action videos is very powerful. If you have a big Instagram account and you have a story highlight thing on your Instagram page which basically has a bunch of people handling your objections, that's very, very powerful. If you're doing Facebook ads, having a few top comments which handle these objections is very, very powerful.
Now, the easiest way to do this is obviously the reviews on your product page, and you should definitely be doing that. But if you can layer in the comment section as well.
Now, one more thing I have to add here: your website cannot look like dog. If it looks absolutely horrible, it can actually drive the conversion rates to basically zero because people are going to think you're a scam. So make sure the design is semi-okay, like a 5 out of 10. Everything above that is not going to make a crazy difference, but everything below that is. So make sure it at least looks decent.
And just to show you one more example here of how big of a difference average order value and upsells can make: in January 2023, we had this store which made around $20,000. Exactly one year later, our same portfolio company here made $225,000 in one month as well with an average order value of $20. So the difference here was only $4. And as you can see here on scale, the conversion rate actually dropped a little bit, but because we saw that higher average order values still makes us so much more money because there's no extra product cost, we still made way more profit with this.
And now let me list the top six things you need to be split testing and trying out to make more money on your website.
Number one: price. Very obvious.
Number two: is adding one-click upsell pre-purchases onto your website. Very important. The app you have to use here is Zipify One-Click Upsell. Our favorite app. And by the way, none of these apps are going to be having an affiliate link below this video. It's just the ones we use. I don't need the extra affiliate money, it's not about that. I want to stay honest. This is just literally the best app for upselling out there.
Then the next thing you need to do is add variants. Whenever you're selling some sort of product which can have a premium version, you should always use that. We saw that so often where you just have the same product but basically name it some some premium version of it and have a little change in there that you can just upcharge $10, $20, and some people are going to take that. So make sure you have different variants for different prices. And sometimes, if you, for example, see that everyone is taking only one variant, then make sure all the other variants are going to be three times up-marked in terms of price. So the top variant looks like it is actually discounted. Nobody trusts discounts anymore. If you have a 50% off thing, nobody trusts that. However, if there's five versions on the product page, four of them cost $100, one of them costs $50, that's something people trust and they feel smart for getting the good deal. But in reality, you're the smart one who made that look like a good deal. So making sure you're split testing variants on the product page is crucial.
Next is adding bundles. Just incentivize people to buy multiple pieces by giving them a discount if they do that. Either you use Bundle Bear or you use the Shrine theme. Both of those are amazing and you should be using either one of those.
The next thing is add a checkbox upsell. So here, it's very important that the checkbox is going to be pre-selected already. Super crucial because every time somebody has to click something, less people are going to do that. Which app you should be using here? Either you're going to be using X Checkbox or you're going to again use the Shrine theme.
And then the last thing is just add email marketing. If you're already making some money, you have to do that as well. This is also something which is very, very underutilized and most people just don't do that ever.
Now, if you're already making money with dropshipping, for me to help you is going to be the easiest thing in the world because I'm just going to look at your store, I'm going to tell you a few changes you should do, and I guarantee you wouldn't do them by yourself. I'm going to tell you exactly that you're going to change them, you're going to literally make more money out of every single sale. And that's it. All right, very, very simple. And obviously, we're going to help you with scaling and all the other things in terms of how to get more traffic onto your website as well. But it's the easiest thing in the world to help an advanced person.
Now, if you're a complete beginner and you're not currently making dropshipping money, we have the most beginner-friendly system to make your first $10,000 online. There's nobody out there who has more case studies than we do who got people from zero to the first $10,000 in profit per month on a consistent basis. So it doesn't matter if you're a beginner or advanced. Click the link below, sign up for a call, and we're going to see if we're a good fit to work together in our one-on-one mentoring program.