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Here are 6 different strategies NewHeidts uses to help grow Ecommerce businesses right now.

(Read Time 3 min)

Looking to grow your business in revenue and profit? Perfect. You're in the right spot!

When we begin working with a new partner at NewHeidts it is our job to help you determine areas of opportunity to grow.

We first do a holistic audit to make sure your foundation is set before you grow. If you have small issues now when you grow, those issues grow with you. If you don't have the foundation to reach the heights you want to grow, you wont get there. You cant build a sky scraper on the same foundation your house has.

Thats why we work through The Vertex Blueprint. We see what type of foundation they have built, determine the next highest point they want to achieve, and then fix and upgrade what needs to be fixed in order to reach those new heights of business.

A lot of businesses' s goal is to grow, but they don't full grasp the concept of growth. They don't understand that growth sucks resources (cash and time). And that is scary. Especially for a Ecommerce business where Cash Flow is crucial to maintaining advertising costs, reaching new customers, and keeping revenue flowing.

I've come to learn that the business is just a reflection of the owner/founder. It will only grow to their (your) level of constrains. It will require you to change and grow along with it - the businesses's life depends on it. Your life and success depends on it.

Overall, there are 3 main ways to grow your business:

1 - Get New Customers

2 - Increase Average Order Value

3 - Get Customers To Buy Again (Increase LTV)

In each way there are multiple sub-strategies that align with the main goals to grow the business.

Some of these strategies you can implement right now with a minimal amount of additional resources, some make take more resources.

#1 - Get New Customers

1.1 - Product-Based Growth & New Offers

One thing we help our partners do is identify and/or create winning products/offers that we can use for a product-based growth opportunity.

This means instead of just trying to spend more money on advertising to bring more people to the site for awareness showcasing all your products or continually launching more products or collections, we find what product-offer has worked the best (like a best selling item) so far. We then use this item, make a sexy offer around it then use it for new customer acquisition advertising.

There are 5 Billon people on the internet - that means lots and lots of opportunity to get your best product offer in front of new people and acquire new customers. It is also KEY to know who your customer is so you can speak to them and create offers they will love.

What is your best selling item(s) right now? How can you make a sexier offer around that item? Is it 20% off? A massive discount just to get product into customer's hands? Adding a gift with purchase? Is it a low cost sample order of the best product? Buy one get one?

After you scale to $1M, $10M or more from this offer alone - what is another sexy offer you can come up with to attract brand new customers? Run it along side of this offer and GROW. Then repeat.

1.2 - New Channels & Pillars Of Revenue

Taking that same winning offer and now make it available by selling it through new acquisition channels. OR come up with new offer for the specific channel your advertising in (know your audience through all platforms)!

This is where sometimes brands get a little wild as they either A) spread their budget too thin and/or B) spread their focus too thin.

A superpower entrepreneurs must cultivate is Focus. And growth through this strategy all depends on where your business is at right now and how much resources you have. If you are under $1M in revenue don't try to run ads on every different platform.

FOCUS - first, build out success advertising on 1-2 platforms (we always start with Meta & Google because they compliment each other). Then you can begin to diversify your ad spend much more. But with that being said we've seen $1M brands only advertising on Meta and we've have seen $30M brand only doing Meta & Google.

We usually don't recommend trying to diversify your ad spend across different channels unless you are increasing your monthly/yearly advertising budget by ~25% from the previous period. 25% is a lot! But we want to make sure you're able to give the next channel enough juice to bring in data at a faster rate to determine success.

Here are some examples of Channels & Pillars Of Revenue you can scale out to.

• Facebook / Instagram

• Google / Youtube

• Influencers

• Affiliates

• Marketplaces (Amazon, Etsy, Walmart, etc)

• Content Blogs

• Join Ventures / Brand Collaborations

• Wholesale

Stay FOCUSED - but if you have the opportunity and resources right now to scale and grow to another channel, DO IT.

#2 - Increase Average Order Value

2.1 - AOV Booster

The AOV booster is a small check box either on the product page or checkout page that offers a complimentary product to the product(s) they are adding to their cart and buying.

It is that simple. One little check box.

What can you add as a complimentary product to your main offer right now? - Digital products work best because the margin on them are high. Don't rule them out even just because your business is Ecommerce! But any great product that compliments the offer can work - test out different ones too!

This could also be a priority shipping, insurance/warranty on the product.

2.2 - Pre & Post Purchase Upsells

With acquisition costs rising - these are CRITICAL to have in your customer sales journey. But don't over do it.

For pre-purchase upsells, most people get this wrong. They have a pop up that just asks to if customers would like to add anything else to their cart and offer 1-3 more products. Wrong #1

Or they have in-cart upsells which distract the customer away from what we want them do with with their cart (we want them to check out). Wrong #2. Customers may add more products from in-cart upsells but we have actually seen checkout conversion and purchase conversion decrease from using in-cart upsells.

This strategy includes putting simple pop-up box that appears when customer hits "checkout" and makes an offer on 1-3 products.

Here is what makes it different than Wrong #1 above - This pop up offer should draw full attention to it, be/have a complimentary product(s), and it should be a one-time offer that is only available in this pre-purchase upsell flow - meaning they can't find this offer anywhere else on the site.

For example, if someone has a shirt they are buying and they check out - make an offer along the lines of discount or BOGO for more shirts or a pair of jeans at a price that is only available on this upsell pop up. Make sense?

For post-purchase upsells, after someone completes their purchase offer a product or item that is priced 2X-3X more than the original product that was bought. This is called a Profit Maximizer.

Although it will have a much lower take rate (conversion rate) than the pre-purchase upsell, it has the opportunity to significantly increase AOV, Revenue, and Profit. And it's a 0% take rate if this is not even offered.

The Shopify apps we use for both of these options is Zipify Pages and Zipify OCU. If you are on Woocommerce, we have used FunnelKit.

Example Offers for Pre/Post Purchase Up Sells

1. Complimentary Products

2. More of the same → discounted one time offer

3. Same design, different product

4. Extended Warranty

5. Priority Processing

#3 - Get Customers To Buy Again (Increase LTV)

3.1 - The 60D/90D Journey

Depending on the product and brand, we like to craft out a customer Journey with all the touch points, value adds, and offers we can make within a 60-day or 90-day time frame.

Getting clear on a 60D/90D Journey and 60D/90D Lifetime Value paints a picture for us in a few different ways.

One, numbers. How much are we acquiring a new customer for? When are they breaking even? When are they profitable? What is the % increase in their value over 60D/90D? What is their 60D/90D LTV?

If we have a high acquisition cost, yet their 90D LTV is 30% higher - we have a growing business. We can breathe because we know our numbers and we can continually reinvest to acquire new customers.

Two, strategy. What kind of system through all channels can we build that takes a customer on a 90 day journey that gives them an incredible experience and increases their value? Then how can we test and optimize this?

Of course it shouldn't stop after the 60 or 90 days, but this gives us a time frame of which we can operate from and optimize within to give a customer an incredible experience and increase customer Lifetime Value

3.2 - Offer Ladder

The offer ladder allows us to expand our thinking of what we can build and create to grow and scale businesses.

Don't be afraid to offer both physical AND digital products.

Here is an example range of products in an offer ladder:

Low Ticket

$0 - $25

These products are low cost because we want to make an opportunity to have a low barrier to entry.

If you run advertising to these products, don't expect to make your big $$ on these.

The goal of these products is to acquire a new lead or new customer at the lowest cost possible and then break even on their cost and make them a profitable customer later - think 60D/90D Journey.

Mid Ticket

$25 - $300

These are usually your core products you sell.

Subscription

$10 - $97

Adding a subscription is the best way to keep a business thriving because each month you would already have batch of customers and already have money (cash flow) coming in.

This helps with everything when you are trying to grow! Costco grew to its size because of it memberships!

High Ticket

$1000+

If high ticket items are your core products right now, what can you offer thats a completely different experience, still high ticket, yet still delivers incredible value?

If you don't sell high ticket items already, what products or experience can you add as a high ticket item? Event? Workshop? VIP dinners? Custom products?

The opportunities are endless.

Once again, what kind of offers you have in your offer ladder all depends on your business and brand, but seeing an offer ladder can help you identify areas where you can build and grow.

So there you have it. Six different strategies we are using right now to help our partners grow!

I hope you take some or all of these strategies and go make more money right now.

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