Here is a specific list of plugins that we've used to get a positive ROI on one of our client's stores. We’ve included the exact amount that we got back so you can see how much you should expect to earn back from them too. Note that obviously having different amounts of traffic would change this. To install any of them on your own site, just install them via the Shopify app store.
Really? How good is your conversion rate?
4.27% for electronics. Industry average is 1.89%, as per Shopify. So we're +2.38 percentage points above the norm - more than double.
What's the secret?
It's mostly clever retargeting. Seems hilariously simple, but ignore it at your own peril. The thing is that retargeting itself has many potential mechanisms to explore, and is usually well worth the time it takes to set it up.
Without further adieu, the plugins
Conversio. This is email retargeting. It’s $20/mo. Our revenue in return (from conversio) was $1881.66. So essentially, we spent $180 for the subscription so far, and got back $1881.66 back in revenue, making it $1701 in automatically generated profit. An alternative is Klaviyo.
Personalizer – AI Recommendations by Limespot. An extremely easy to set up app that does wonders on Revenue per product view (a whopping $3.91 per page visit compared to $0.86 without). Overall, conversion rate is 10.32% as compared to 2.43% without it.
SMSBump. This is an SMS retargeting app that sends customers an SMS after they add their product to cart or take certain actions on your website. To be honest, we didn't spend that much – We spent $250.11 and got sales worth of $1520.76. The return on investment is therefore technically 608.36%, which sounds amazing but of course it’s for not that many purchases.
YotPo. This app is free but actually very good for branding. As pictured below, it allows you to ask for reviews from your customers. Conveniently, your store doesn’t have to look bad if you get bad reviews, as you can filter the reviews manually. This isn't quantifiable ROI-wise unfortunately as we've always had it installed so never A/B tested it.
Discounted Upsells. This app is seriously awesome. Basically it creates a pop-up after someone purchases allowing them to buy a second product for 15% off. For us, in a single month it generated $516.06 extra income from orders. We spent $19.99 USD on it. So that’s basically a 1748.67% ROI from one app. The way we set it up was to create a Buy X for Y Upsell discount. This is where I offer a second product at 15% off. You have to try to see which products seem to match in your store.
Anything that could be done better?
Conversio works for email marketing, but we'd like to personally increase the amount of email marketing we do. To this degree, we've started using Wheelio with a 9% email opt-in rate, and still have yet to really amp up my Klaviyo campaigns.
Hotjar is extremely good for analysing your users. We'd recommend it to everybody.
Social proof pop ups may help, but it's a little hard to quantify.
We only advertised to a single country for the particular store that uses these apps (We have multiple stores with multiple variations of apps), but Coin by ShopPad is what we'd use for multi-currency conversion.
We think one significant aspect is that although we love Facebook ads, a lot of the ads for this particular store was actually done using Google Adwords/Shopping campaigns. We think intuitively the higher intent traffic naturally means higher conversion rates. However, both Facebook ads and Google ads have been profitable for us, and certainly Facebook retargeting ads should not be ignored either.
Advanced: More specifically, for Facebook ads we would retarget those in ViewContent or AddToCart within 7 days, excluding purchases within 30 days, and send them a dynamic carousel that has a 15% off discount code. At a minimum you'll get a return on ad spend (ROAS) of 2.5 or above, but more typically the range is from 3.00 - 7.00. In atypical circumstances We've seen ROAS as high as 29.00, but these products are almost always high ticket and are also almost always either very niche or have phenomenal branding as a pre-requisite.
If you've ever wondered about what types of audiences to target, how much to spend per ad set, what sort of ad creatives work best, and those sorts of questions - then this is pretty much our brain dump to all of the above questions after spending hundreds of thousands on Facebook ads ourselves.
Again, nonetheless, this post should be extremely useful in and of itself and should still be very valuable to you.