Got your Q4 Ducks in a row? 🦆🦆🦆

Funding, cross-sells, and a challenge for you

Author

Ada at Sellify
July 22, 2024

In partnership with

Happy Monday, Champ 💪

Hope you’re pumped for the week ahead after a restful weekend! Q4 is around the corner, and to help you stay ahead of the curve, we've got great tips for you. Here’s what’s inside :

  • Industry Insight: Pushing for Q4

  • Growth Hack: Upsell like a Go-Pro

  • Challenge: Review and Refresh

  • Trend Alert: Back to School Bonanza!

🏢 Q4 Funding

As Q4 approaches, sellers like you are getting their ducks in a row for the impending shopping season. Sellers like the t-shirt brand that made $30m during last year’s Black Friday sales. 

It turns out that funding was critical to their success - just as it will be to yours too. Fintechs understand the importance of funding and are starting early to align their funding solutions to support sellers. Just last week, Clearco and Boundless announced a joint venture to expand working capital loans to eCommerce merchants not previously served.

In the last 4 weeks, two ecommerce startups, Daydream and Zepto, have raised $50m and $665m, respectively, in the run-up to Q4.  Do you have a list of funding sources lined up?

💡 Growth Hack: Master Upsells and Cross-sells

“I feel like shoppers should be buying multiples of my products, but they aren’t”. If this sounds familiar, you have an upsell problem.

Fix: Proactively offer complementary products (aka upsells) and services (aka cross-sells).

GoPro pays marketing experts up to $75,000 to figure out exactly how to execute this, but you don’t have to. Here’s how you can copy their exact upsell and cross-sell strategy 

  • Know Your Products: GoPro knows that its customers have an appetite for upgraded lenses and accessories, so it offers both as upsells.

  • Figure Out What To Offer And Where: Go Pro upsells at the point of purchase - right on the Hero12 Black camera sales page. First it offers the more expensive $79.99 specialized lens upsell before the lower-priced $49.99 accessories bundle.

  • Leverage Data: Unsure what products go together? Like Go Pro, check sales patterns to see what customers buy together

  • Use Effective Tools: Find well-reviewed upsell apps in the Shopify store to make the process seamless. 

  • Reduce friction in customer interactions during (not after) the purchase. Go Pro uses a simple check box and a one-year-free offer to cross-sell its Premium Subscription. 

🔧 Challenge: Turbocharge Your Upsells and Cross-sells

What’s your current upselling/cross-selling strategy? Is it effective? If not, take 60 minutes this week to tweak and optimize! 🎯 

What you need to do:

  • Get in. Download a basic cross-sell/upsell app if you haven’t got one

  • Analyze your performance. Review your upsell/cross-sell conversion rates 

  • Test New Offers. A/B test Go Pro’s upsell and cross-sell strategy. (2 Upsells, then 1 cross-sell at the point of purchase)

  • Monitor Results. Continuously track and adjust based on performance data.

📈 Trend Alert: Back to School Fever!🎒

 Source: Google Trends

It's that time of year again—back-to-school season! You are now 2 - 3 weeks away from the full wrath of the back-to-school season, so if you’re looking for some product ideas blowing up in 2024, try these: 🌊📚

  • Backpack cooler (34k monthly searches forecast for the end of July 2024)

  • Dorm essentials (Predicted to peak at 10k by the end of July)

  • Back-to-school teacher gifts/Teacher appreciation gifts (Predicted to peak at 800 searches by the end of July.

P.S

If you’re struggling to generate a decent amount of web traffic to justify an upsell app, grab the lowest-hanging fruit and improve your organic traffic game.

Download Plug-in SEO (14-day trial), audit your store for free, and see what exactly you need to fix. And if you’re keen to fix it yourself, the CEO is so confident of the strategy that he guides you through the process for free.

From Our Friends

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Till next time, Sellify Club. 

Keep Winning,

Ada