Podcast Discussion: Why Ecommerce Businesses Need Ecommerce-Native CPQ for Shopify and HubSpot

In Part 1, we talked about the results of a recent 80/20 Analysis we conducted for a Revenue Conduit customer. We found a number of customer segments that were all but invisible prior to the 80/20 analysis. One big revelation was that only 10% of their customers accounted for 50% of revenues. Another big revelation was that a full 85% of customers had only bought once. When conducting 80/20 analysis, we always look for "low-hanging fruit" campaigns - campaigns that offer a relatively easy and immediate source of revenue and profit. Campaigns that not only pay for your initial investment in Infusionsoft, Revenue Conduit and consulting but also provide an immediate ROI that can be further invested in even more profit-generating campaigns. The biggest "low-hanging fruit" campaign was to get a second purchase from the customers that had only bought once. Knowing that the customers that had only bought once also differed based on the data of their last purchase, we also decided to further segment them into three groups - customers that last bought more than six months ago, customers that last bought between four to six months ago and customers that last bought within the last four months.

I’ve said it before and I’ll say it again - running an online store is hard and getting harder. The cost of PPC is going up. Google can change their algorithm and you can lose half your traffic overnight (which actually happened to one of our clients recently). If your product can be sold on Amazon, chances are it’s already there and being sold for less money than you care to admit. To succeed in online retail as a small business, you need to stand on something other than price. You need a unique selling proposition. You need something that Amazon cannot do. Something that WOWS your customers during every interaction.

One of the best ways to grow your online store is by sending traffic to a landing page and capturing leads.

We're excited to announce that Revenue Conduit now integrates Shopify POS with Infusionsoft! This integration will be great if you have ever wanted to do Lifecycle Marketing with your in-store customers, and drive them to also purchase online. We'll have a more complete rundown of everything you can do shortly. For now, we wanted to give you a taste.

Love ‘em or hate ‘em -- popups work and they work well.

You never know what you will find when conducting 80/20 analysis for eCommerce. Hidden opportunities. Looming threats. Clues for campaigns that provide the right message at the right time to the right customer segment you didn’t even know existed. I’ll share with you the results of a recent 80/20 analysis for a Revenue Conduit customer. For confidentiality reasons, I’ll withhold the name of the actual company and generalize some data. Start with Getting the Data into Infusionsoft A recent signup for Revenue Conduit purchased our Historical Data Service to export all of his orders, products and customers from Magento and import them into Infusionsoft. Part of the service includes calculating data and populating a number of fields within Infusionsoft. We use the fields for RFM Segmentation (purchase recency, purchase frequency and monetary). The fields include:

It’s been about 9 months since the first online store signed up for Revenue Conduit. Since April, 2013, online stores from all over the world in one niche after the next have joined the Revenue Conduit family. With our growth well under way, and the knowledge we have gained through working with clients and subscribers, it is now time to share our experiences and open a dialogue with you. This is our first post on the Revenue Conduit blog. You can expect many more. Revenue Conduit started as a simple plugin built to scratch my own itch. Before Revenue Conduit was even an idea, my wife and I had an online jewelry store built on Magento. We were using Mailchimp for our marketing, and we were frustrated by the lack of integration between our shopping cart and our marketing. We had two data silos and no real way to make them talk with each other in any meaningful way. I went on a search to find something better and thankfully found Infusionsoft (it was love at first sight). I signed up, went through the Kickstart and my mind began racing with all the possibilities. I partnered with a long-time friend and collaborator, Parag Jagdale, and we built the first version of Revenue Conduit to connect my own store with my marketing (now being run through Infusionsoft).