Shopify Startup Checklist

STARTUPS

Below is a checklist of the top things you need to be focused on when launching your successful store.

Note our main objective is NEW CUSTOMER ACQUISITION and finding the cost per new customer. This is where over 80% of new stores fail in the first 18 months and never graduate from STARTUP to GROWTH.

(Which is why this is the best place to start our eCOM SLAPS)

Top 3 Focuses to Win Customers:

• Who are your targeting / What do they want / Why your products

• How are you pushing in traffic?

• What are you offering to win new customers’ trust?

People only transact with those who they like and they trust…

The formula works! Let’s run through some scenarios here.

Listen… I have seen complete morons and ex-convicts launch successful brands with ease.

These guys sell themselves with authenticity, the story sells!

Ok, let’s break out this formula:
Who are your targeting?

Easiest person to target is someone like yourself. That way you can let your personality out of the box when you are marketing your products.

No one wants to transact with a boring company they do not connect with. So connect with your audience and build your tribe. This will increase your lifetime value of your customers in your store and they will remember you next time they need to make a purchase.

One ex-convict I used to work with who used to sell drugs (illegally) would always say “we just need to give them a taste of what we got and they will be hooked!”

Our marketing message attracted a lot of the same mindset people and they went deep with us! Took us 6 months working together to hit our first $1m month, 10x the biggest previous month ever for the brand.

TARGET LIKEMINDED PEOPLE! It makes your marketing easier to be authentic.

What do they want?

They want to feel included, invited over to sit at the cool kids table. Whatever it is, create that sense of community with your messaging.

My wife when she launched her store created startup success with writing a handwritten note to everyone who purchased… which wasn’t just a THANK YOU, she spoke directly to them based upon what they purchased.

Create solutions here to make your first customers feel special… and don’t be a lazy bum about your new startup store.

Why your products?

Here is your competitive research… find the angle to win business and it doesn’t have to be winning on price!

We are doing marketing now for an electronics store and price shopping is a MUST for that niche.

However… you see brands like DIOR who are selling $57 manufactured bags for $3500! How about those margins! Don’t think you have to be the cheapest on the market to win business.

Use StoreFilter.com to research competition, see who is winning big, which products they sell and where they get their traffic from.

RIZZ SCORE of StoreFillter.com PERFECT 10
Sign up for a free trial today!

How are you pushing in traffic?

There are 4 ways to win business: cold outreach, paid ads, referrals and organic (social and search engines).

Best thing to do is start on all of them, but focus your energies on outreach and paid traffic to start your store.

Most new stores fail in two places: poorly conceived products and poorly executed initial hustle to get off the ground

Which results often in comments like “paid ads are too expensive”

Well listen here… I am still getting less than $10 per sale to NEW CUSTOMERS for a store at scale from paid Facebook ads.

Problem is… your cost per sale is typically closer to $50 on new stores from paid ads, and when your average order value is $59, that is a tough pill to swallow for your startup. Which is why so many stores go under.

How to offset this?

Reading our blog is going to be helpful… joining our inner circle to ask questions and also EXECUTION!

So… What are you doing to win customers?

We typically have 4 or 5 products on a new store launch that we believe will do really well in terms of sales to new customers.

We setup the store right to build trust, then we launch our ads with what images we feel are going to get the best traction.

Then we pause the ads for the products and images not selling and ramp up what is selling.

Our target goal is profit margins over 50% after product cost and ads spend. But not dip under 25% profit.

Knowing your numbers is essential to win big.

Then you can progress quickly between STARTUP → GROWTH → SCALE
Our stores we push hard from STARTUP (under $100k a month) to GROWTH (under $1m a month) within 12 months.

Follow the steps, build trust and find products to scale through ads.

It is the formula to CLAP CHEEKS and win market share from your competition.

That means you Jeff Bezos! We are coming for you!

Cheers to another profitable day in your eCOM store.

Matt