How To Increase Your Net Profit Margin By 10% in 10 Minutes — Idries Erfan | How to Combine Product ...
In this episode of the Ecommerce Coffee Break, Idries Erfan, founder at protectmyorder.co.uk, shares actionable tips to increase net profit margins by 10% or more. Learn how innovative service-based upsells, like stolen package protection, outperform traditional strategies and uncover quick, practical ways to optimize your Shopify store's checkout process. Topics discussed in this episode:
---What 300+ merchant interviews revealed about profit margins in the post-iOS 14 era
---How service-based upsells reach 40-60% conversion vs traditional 2-3% product upsells
---Why stolen package protection converts at 50-70% of concerned customers
---What makes optimal upsell pricing range from 2-9% of cart value
---How merchants boost profits by 10% in under 10 minutes with protection services
---Why extended return windows drive sales during Black Friday season
---What makes carbon neutral shipping a compelling modern upsell
---How to combine product and service upsells effectively
---What A/B testing shows about optimal upsell placement
---How success-based pricing eliminates risk for merchant protection services
Links & ResourcesWebsite: <a href='https://www.protectmyorder.com/'>https://www.protectmyorder.com/</a>Shopify App Store: <a href='https://apps.shopify.com/protectmyorder'>https://apps.shopify.com/protectmyorder</a>LinkedIn: <a href='https://www.linkedin.com/in/idries-erfan/'>https://www.linkedin.com/in/idries-erfan/</a>Get access to more free resources by visiting the show notes at<a href='https://t.ly/gIP5p'>https://t.ly/gIP5p</a>
SPONSORS:Elevar – Powering Conversion Tracking For Over 6,500 D2C Brands. More Info: [https://www.getelevar.com/BFCM/] (https://www.getelevar.com/BFCM/) Autron – The Anti-Agency for Amazon Ads. More Info: [https://autron.ai/] (https://autron.ai/) Try Shopify: Get your first 3 months for $1/month. Earn up to $10,000 in credits: [https://tinyurl.com/try-shopify] (https://tinyurl.com/try-shopify)
MORE RESOURCESDownload the Ecommerce Conversion Handbook for store optimization tips at <a href='https://tinyurl.com/CRO-ebook'>https://tinyurl.com/CRO-ebook</a> Best Apps to Grow Your eCommerce Store: <a href='https://ecommercecoffeebreak.com/best-shopify-marketing-tools-recommendations/'>https://ecommercecoffeebreak.com/best-shopify-marketing-tools-recommendations/</a> Become a smarter online seller in just 7 minutes Our free newsletter is your shortcut to ecommerce success. Every Thursday. 100% free. Unsubscribe anytime. Sign up at <a href='https://newsletter.ecommercecoffeebreak.com'>https://newsletter.ecommercecoffeebreak.com</a> Rate, Review & Follow Enjoying this episode? Help others like you by rating and reviewing my show on Apple Podcasts. Rate here: <a href='https://podcasts.apple.com/us/podcast/ecommerce-coffee-break-digital-marketing-podcast-for/id1567749422'>https://podcasts.apple.com/us/podcast/ecommerce-coffee-break-digital-marketing-podcast-for/id1567749422</a> And if you haven’t yet, follow the podcast to catch all the bonus episodes I’m adding. Don’t miss out—hit that follow button now!
20 Nov 2024
56 MINS
56:53
20 Nov 2024