1. Don’t overthink, Take action, and get started.
Ludovico explains that building your store might be a lot easier than you think. Platforms such as Shopify are designed for nontechnical experts, as they typically require zero coding or website design skills. Some platforms also allow you to customize how you want your store to look and feel, as well as use apps to enhance the functionality of your store.
You can choose to sell your own products, or you could source products from other suppliers and perform a dropship model so that you avoid the hassle and risk of holding inventory.
2. Buy traffic.
Now that you have your store set up and populated with products, it's time to tell the world about your new business. Before you begin, it’s important to install a website tracking with the Facebook Pixel, to be able to track the users on your online store. Through using tools like Facebook Pixel, It will allow you to gather data about your website visitors, run marketing strategies and create custom and lookalike audiences.
It's also important to understand which types of traffic are visiting your online store. The first type of traffic is organic traffic. "Organic traffic" refers to visitors who land on your website as a result of unpaid search results. Examples include blog posts, social media marketing and search engine optimization.
The other type of traffic is paid traffic. Ludovico recommends focusing on one advertising platform at a time when trying to generate paid traffic. An example of such a platform is Facebook Ads, which allows you to target specific audiences on Facebook and a huge database of users.
3. Increase your average order value.
My next tip is to focus on the average order value. This is calculated by dividing the total revenue by the number of orders. So, let's say you have a customer who is about to purchase, or has just purchased, a husky-themed hoodie. You can present to them a second offer where you can offer more of the same, or you can present them an offer for a similar item at a discounted price.
In my case, I would offer a second hoodie at half price or offer a smaller-priced item such as a baseball cap. The main goal is to raise the average order value, which, in turn, will allow you to spend more money to acquire the customer and outbid your competitors who are seeking the same type of customer.
I personally prefer post-purchase upsells over pre-purchase upsells because they do not interfere with the buying experience. A confused buyer is a non-buyer.
4. Use Email and SMS Marketing.
Now that you are beginning to build an email list of subscribers, social media followers and buyers, it is time to turn your email list into a strong monthly money-making machine.
Ludovico, finds email marketing powerful because you have already acquired the lead and/or customer, so you can begin to create powerful flows and segments to ensure you get the best open rates and deliverability. Also SMS marketing is such a powerful traffic source you can use to target all users that abandon your cart page.
5. Scale Up your business.
Once you have your system in place, think big and plan about your next move to be able to scale your business to the moon. Remember, online there are no limits!