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This episode is a business coaching course that teaches about Shopify as an e-commerce platform.

Results-Focused Training, Tools, and Workshops from Expert Business Coaches.

Featured Coaching Excerpt - Notes & Transcript, Part 1
  • Benefits of Using Shopify : 5. The product cross-sell
  • Daniel McKenna:
    -Jason Stewart
    (Mentor, Thrive15.com)
  • Definition Magician: To sell or try to sell (similar or related products or services) to an existing customer.
  • Lesson Nugget: Everyone wants a bargain.
  • Editor's Note: http://mailchimp.com/
  • Fun Factoid: Chaka Khan's birth name is Yvette Marie Stevens.
  • Mystic Statistic: "Shopify meets all 6 categories of PCI standards."
    (https://www.shopify.com/pci-compliant )
  • Benefits of using Shopify - Recap: 1. Powerful Plug-ins 2. Affordable Pricing 3. Professional Design Options 4. Ease of Use 5. Product Cross-Selling 6. Sales Tax Calculation 7. Security & PCI Compliance
  • Lesson Nugget: Abandoned checkout rate shows how many people don't follow through with a sale. Shopify's plugins can help you tweak your offering to lower that rate.
  • Ample Example:
  • Lesson Nugget: Offering an incentive to come back to your site, like a discount or coupon, can greatly enhance your revenue.
  • Lesson Nugget: Mailchimp is a tool that allows you to segment your customers and email them with messages geared to their specific group.
  • Benefits of using Shopify: 6. Easy sales tax calculations
  • Benefits of Using Shopify: 7. Security and PCI compliance

- ♫ record scratching ♫ - Alright folks. While you were gone, we're, uh, got a little "Careless Whisper" playing, no big deal, getting a little break there, you know, just want a smooth transition in here. We just got done talking about exit offers. - Yes. - Exit offers. So, let's get into an equally sexy topic: the product cross-sell. - Yeah. - Okay. So, tell me about this. - So, a cross-sell is when you can show a related product, right? So, I'm buying, let's say I'm buying an iPhone, or a mobile phone of some kind. And then, a cross-sell would be a case, okay? So, the one item is hundreds of dollars and the case my only be twenty, thirty, forty dollars. But, it's better as a retailer that I get an additional thirty to forty dollars. So, if I can cross-sell something; it's not an up-sell, up-sell would be like a new feature or an upgrade or something, but a cross-sell is, "Hey, you might also like." So, you'll see things like, "People also bought," "You might also like," "Related products." - Sort of, accessories almost. - Yeah, yeah. Related in some way. So, if you like this certain kind of spatula, maybe you'll like this other kind of kitchen utensil. How do they relate in some way? - And you see that on Amazon, it says, "People that bought this, also bought that." You're looking at this book, well, those people also looked at this book. - That's a billion dollar idea for someone like that. - Yeah, and that's built into Shopify. - Well, you can get a product, sorry, a plug-in that will amp that up a bit, but yes, the basic version of that is built in, but, you can add a plug-in that does even more of that. - So, roughly, before we even finish out these plug-ins, roughly, in a day, I can make my business look legit. - Yes. - Look like it's a real deal, I know what I'm doing, even if I don't know what I'm doing, it looks like I know what I'm doing. - Yeah. - That's cool. Okay. Alright, well I'm going to That deserves an air horn, and then we're going to go on to the next one here: the abandoned cart and checkout recovery. What does that even mean? - What does that mean? Okay, so, we talk to people all the time that have stores and it's their first time through the store, they've owned it maybe a month, and they're looking at the data and they just freak out because they see that their abandoned cart or abandoned checkout rate is 60-70%. What that means is, people went through the process, they added to the cart, maybe even went all the way to the checkout process to where they have to pull that credit card out and make it real. So, "Oh my gosh. Sixty, seventy percent abandonment. That's a very negative word. What does that mean?" That means most people didn't follow through on the sale. And, don't freak out if you have a 60-70% abandonment rate. That sounds incredibly high, but it's a reality, and so, what this is, these are apps and plug-ins that help you do little ninja moves, little moves, to up-sell, cross-sell, to promote. There's a whole series of things you can do to try to what's called recover an abandoned cart or a checkout. Get people back to the site, maybe e-mail market. There's a whole series of moves there, but these are plug-ins intended to convert people that lost interest, maybe they got a phone call, they checked e-mail, whatever it is, and they walked away from their computer or their phone, whatever it is. So, it's a...the goal is to try to recover those abandoned carts and checkouts. - So, this is another super, highly sophisticated sales tool that is available as a plug-in with this platform? - Yeah, so, if you walked into a car sales place, you're looking at a used car, so, you can't do this as a used-car salesman. That person turns around and gets in their car, the used-car salesman is not going to follow them down the street and pull them back. - They certainly, probably should not. - That may not end your day well. - Yeah. - Yeah. - Well, depends on if you made the sale. - That's true. Online you can do that kind of thing. You can bring them back. That's what it's all about. - Okay. What else we got? What other plug-ins we got here? - Coupons and discounts. People are looking for a bargain, and, I want to dispel a myth here that upscale, high-income people don't want a bargain; you hear this sometimes. It's actually not true. If you go to Pottery Barn and you look at a $2,000 outdoor table, like I did fifteen minutes ago, they slash through, they do what's called a strikethrough on a retail or list price, and then they show a special price. If I'm going to pay two-thousand for an outdoor table, I'm not just the average Joe, I'm an upscale customer, so, I want to dispel that myth. Everyone wants a bargain. Now, if you're Mr. Donald Trump and you can just buy as many tables as you want... - A lot of $2,000 tables. - Maybe, maybe a bargain is not that big a deal for you, but, if you can offer a coupon, a discount, to bring them back to the website, maybe it's a VIP, and you just want to say, "Hey, thanks for being a customer for the past year. We're going to give you a 10% end of the year, or Chirstmas, or something like that discount." Those are things that bring revenue in. - Okay, so, again, that's one more example of why this is going to make your website look legit. You're going to start looking like Pottery Barn out of the gate, because you're going to say, "Was this price. For right now, it's this price." Last plug-in. What do we have here? - Well, we recommend a product called MailChimp. And, we'll put a link on the screen here. MailChimp is a e-mail marketing system. What that means is it's beautifully designed e-mails, designed to attract you back to the website, to send you offers and things like that. So, it's direct marketing is another way to say that. So, MailChimp is a great system, very low cost, that you can segment those users according to maybe one-time buyers, maybe repeat buyers. Ultimately, you want another list that's your VIP buyers. And so, it allows you to track those people separately, and send different messages to those people, because your VIPs are more likely to buy from you, more likey to open the e-mail and click and do something. So, MailChimp is a great way to segment those people and e-mail directly to them different messages. Right people; right offer; right time. - So, you're building lists of your different sorts of customers, and then you can automatically say, "This is the newsletter that I want go out to all my VIPs, they're going to get an extra 10% off." Or, "This is going to go out to my first-time buyers who I want to get to come back to the store. 'Hey, thanks for buying, take this survey, whatever.'" - Exactly right. - Okay. Awesome. We're just going to make this a little bit more fun here, wait for it, just wait for it. ♫ Chaka Khan plays ♫ Okay, we're talking about sales tax calculations. - That's not fun? - I mean, so far, to me it sounds fun, but maybe it's because of the background. Let's try this again. Sales tax calculations. Yeah, it doesn't sound that fun anymore. Sales tax calculations. Why does this matter? - So, you have dentists, emergency surgery, and sales tax calculations, you kind of have to choose which is best for you. Alright, sorry dentists, sorry to do that to you. So, sales tax calculations. There are thousands, tens of thousands of cities, boroughs, districts, you know, the country is broken up into tens of thousands of tax rates, and, so, if you go from the inner city of one city, to the suburbs, right, as you're literally driving down the street, the tax rate changes. And, so, why does that matter? Well, constantly the tax rates are changing, right? They lower or they raise taxes; more often they raise them, of course. So, for you, as a store owner to try and keep up with tens of thousands of tax rates, is not a job you want to have, I hate to break that to you, Chaka Khan or not. - Maybe if you throw some Chaka Khan on there it'll make it more manageable, but, otherwise. - Shopify has a beautiful module there that's built into the software, that it maintains all those tax tables and rates, so you don't have to have a full-time person doing all those calculations and getting all those numbers. It sounds like a minor thing, but it used to be a really huge thing. - So, if I sell something in Tulsa, if I sell something in Little Rock, or if I sell something in Pittsburgh, or if I sell something in Bismark, potentially all those sales taxes are going to be different. - Yes. Depending on, yeah this is a whole thing in and of itself. If you're located in Tulsa, for example, so, if you're in the state of Oklahoma, any transactions that take place in Oklahoma, you'll pay taxes for it. So, to your example, if someone bought from Pittsburgh, but I'm in Tulsa and they bought from me, it's going to be tax free. So I only have to maintain those tax rates of the locations I'm in, but, if I'm a big company and I have an Oklahoma location and a Texas location, or whatever, you see where I'm going, so, now, you've got those different tax rates you have to calculate and it gets crazy out of hand. - At the very least, if you are not a huge company, we're talking about different cities and different counties, still have different taxes. - Yeah, most people don't know this, but, if you were to buy an item from a gas station in one part of town, pay attention to your receipt, and look at the price. Drive a few miles down the road, and you're going to pay a couple of cents higher or lower, it's crazy. - And that's just because of taxes. - That's because of our awesome government. - That's incredible. Okay, last one here. This is G, this is the G one on the outline, there's no other reason to call this the G one. Security and PCI compliance. This sounds exciting to me. What are we talking about? - Well, this is a reason why you want Shopify and you don't necessarily want to do your own custom store, so, in this case, I want to dis-incentivize you from building a custom store, and this is a good reason. Security: what does that mean? Well, you've got, let's call them hackers, North Korean, China, Russia, they're all over the place. - Pulpa. - Essa Pulpa, maybe. These guys want to not necessarily do damage, but they're trying to get your data. They want your customers, they want credit card numbers, they want this kind of stuff because they can re-sell this in the market. - And you hear about this all the time. Target had a huge breach, I mean, these are big companies that had these sort of things. - It happens more often than it should, and it's because of lax security. There's a whole set of reasons why, but, if you don't want to have to worry about all that stuff, then go with something like Shopify. You delegate that to them essentially. They have full-time people, they have full-time teams that take care of this stuff. They have insurance, they have the technology, they have the expertise. PCI compliance is the same way. What that is is, basically, all the credit card companies got together and said, "We're going to create these standards that you have to abide by on security. And if you don't, and if you have what's called a data breach, and your data leaks out, like Target, Home Depot, then we're going to fine you," and you can actually lose your ability to sell through those credit cards. So, PCI compliance is a big deal, but the bottom line is, Shopify does all that for you. So, you give them the responsibility, you don't have to worry about it. It's a major thing, major benefit to using something like Shopify. - So, as far as the benefits of using Shopify as your eCommerce platform, we talked about a lot of things, we had some powerful plug-ins, the cost is a lot different, it already looks good, professional-looking design, we have the ease of use, we've got the sales tax calculations, we've got security and PCI compliance. Give me one reason why I would not do this. Why would I not do this? - Maybe, if you were North Korean. No offense. I don't think we're big in North Korea. - Yeah, well, maybe if you're watching this from North Korea, then we can, yeah. - That would be impressive. - You would be somebody I'd be scared of, and thus, I'd want to get PCI compliance on my website. - You know, if you're going to build the next Twitter, the next Facebook, or something like that, yes, you'll need to go custom at some point, but, gosh, there's so few of those out there. Just start small, figure out your cost, figure out what works, and pivot, pivot, pivot. - Okay. Okay. Well, folks, that's going to be it for now. Daniel McKenna, Jason Stewart, Chaka Khan. That was the benefits of using Shopify as your eCommerce platform. Tune in next time. I hope to be back with you. He'll be back. I hope I'm back, I've been playing Chaka Khan too much.

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