Sales funnels reborn. My theory is that the cost of customer acquisition does not depend all that much on the sales price. In order to make money I need to have a product that has I large enough profit per sale to be able to at least break even on customer acquisition (primarily advertising) cost.
After contemplating this for some time I came up with custom branded headphone amplifiers. Many people prefer the sound of tubes, almost everyone thinks tube amplifiers look cool. Buying them in bulk from a manufacturer in china these can be had at a reasonable price, allowing for 40 or 50 dollars of profit per sale. Subtract from that 30 or so for advertising and I will still be making good money.
Plan is as follows:
- Get a logo from fiverr (done)
- Get a domain name (done)
- Get a landing page template from fiverr (ordered)
- Set up the landing page
- Set up a facebook page
- Advertise on facebook to audiophiles, engineers, and electronics enthusiasts
If any sales occur I will immediately order the amplifiers from china by DHL, and ship them as soon as possible to the customers. After this initial just in time market test (assuming success) I will keep 1 months worth in stock. The first set will be generic without branding, but after the market test I will get my logo laser etched into the product.
The time line for all this is a few weeks, so if this works I’ll be able to spawn a new business in less than a month.
Sales funnel was a mixture of success and failure.
- 150 vistors in one day
- 2 sales in one day
- 1.5% conversion (significantly higher than directing traffic to front page of my web site)
- 33 cents per clickthrough on the facebook ad
- $25 spent per customer acquisition
- $12.50 per sale – $6 dollar shipping and product cost
- lost $37 on the experiment
Order Bump: This page presents the order bump. It must be php though, because it’s receiving the information from the first page and doing something with it. This presents 2 options buy or don’t buy.
<?php echo $variable3 ?>
Don’t buy: current form values are sent to receipt.php
Upsell: Buy or don’t buy again, only this time either way goes to receipt
Receipt: This page needs to process the order in stripe, charge the card, send a thankyou email to the customer, and then send a notification email to me that an order needs to be shipped.
So far I have the landing page done, order bump almost done.
Funnel progress has been slow. We had an awful lot to do in the last few days and I didn’t get to it much. Broadly speaking here are the steps:
- Design the landing pages – done
- Create a Stripe account to do charges – done
- Figure out how to pass payment information from the form: https://jsfiddle.net/ywain/g2ufa8xr/ -done
- Figure out how to decrement inventory (will require a database of sales and purchases, this may end up being done through stripe’s orders API https://stripe.com/docs/orders)
- Add tracking tags and scripts
- Go live with the whole shebang!
- Create a checkout form using custom checkout: https://stripe.com/docs/checkout#integration-custom
- Put the values in a hidden form and then post said form to a php script using jquery
- php code then will display the next step in the funnel, repeat 2
- one of the values is a “token” that represents the card, the last php script will create the charge, and decrement the appropriate inventories
Exit intent forms are those annoying popups that come up when you try to leave a page. I’m familiar with two types: The kind where you try to close the tab and it opens a bunch of message boxes saying “OMG YOU HAVE SO MUCH VIRUS TEH RUSSIANZ GUNNA PWN U BRUH!” (or something to that effect), and the ones that ask for your email address to send a coupon code to as soon as your mouse leaves the viewport.
The second type is all the rage right now. Email address lists are very valuable: a targeted but not very well used or active list is worth $0.20 cents per entry according to that book). The value of a customer who leaves your landing page leaving no information and doesn’t purchase is close to zero. It’s not zero, because you may still have retargeting information gathered through tracking pixels, but it’s way lower than the value of an email address.
So how do I do one? Well much like the funnels people will try to sell you a lot of services. I don’t want to spend money on these services, since I would like to spend that money on advertising instead. My helpful link of the day: http://beeker.io/exit-intent-popup-script-tutorial. This is a quick java script snippet you can use for your own landing pages.
The sales funnel project has several challenges:
- HTML design of the pages (???): Unfortunately, clickfunnels promotes so aggressively even finding templates for self hosting is difficult. I am looking at adapting landing page templates now.
- Payment processing, inventory, etc. (Stripe API + some custom PHP)
- Conversion tracking (Mautic)
Payment processing is going to be a bit tricksy but it looks like it’s going to be doable. Unfortunately I will need to have a separate stripe account for it, which means that I won’t be able to track inventory with shopify. This is rather unfortunate, but not that big a deal (I have enough inventory. For now I can just allocate half to each platform and make corrections when sales happen. At some point in the future I can make a shopify plugin that runs on my host that keeps things in sync).
Conversion tracking will happen more or less automatically as long as all the pages are setup as mautic landing pages, and there is a thank you/confirmation landing page after purchase.
HTML templates, as I said are a big problem, largely due to clickfunnels messing up the signal to noise ratio on this. I’m going to try to adapt landing pages from https://litmus.com/community/templates.