WooConf 2017 How to Become Profitable

Business strategy for startups, web development, wordpress, woocommerce, and agencies on becoming profitable and how to create profitability in your business.

Transcript

1. BECOMING PROFITABLE @kennkelly @kenn_kelly neversettle.it
2. COUNT THE COST @kennkelly @kenn_kelly neversettle.it
3. SHIPPING @kennkelly @kenn_kelly
4. RETURNS @kennkelly @kenn_kelly
5. TIME @kennkelly @kenn_kelly
6. @kennkelly @kenn_kelly
7. Because the purpose of business is to create a customer, the business enterprise has two–and only two–basic functions: marketing and innovation.” ~ Peter Drucker @kennkelly @kenn_kelly
8. Because the purpose of business is to create a customer, the business enterprise has two–and only two–basic functions: marketing and innovation.” ~ Peter Drucker @kennkelly @kenn_kelly
9. @kennkelly @kenn_kelly
10. @kennkelly @kenn_kelly
11. WHY THIS MATTERS @kennkelly @kenn_kelly
12. WHY THIS MATTERS ALEXA RANK Market Share % Total Revenue Avg $Rev/Site 1-10K 1% 34% $12,070,000 @kennkelly @kenn_kelly
13. WHY THIS MATTERS ALEXA RANK Market Share % Total Revenue Avg $Rev/Site 1-10K 1% 34% $12,070,000 10K-500K 51% 63% $3,195,000 @kennkelly @kenn_kelly
14. WHY THIS MATTERS ALEXA RANK Market Share % Total Revenue Avg $Rev/Site 1-10K 1% 34% $12,070,000 10K-500K 51% 63% $3,195,000 500K-1M 48% 3% $21,000 @kennkelly @kenn_kelly
15. There are over 12 million eCommerce stores. Yet ONLY 650K are selling more than $1K annually! @kennkelly @kenn_kelly
16. THE FUTURE OF RETAIL @kennkelly @kenn_kelly @kennkelly @kenn_kelly
17. RETAIL @kennkelly @kenn_kelly
18. RETAIL @kennkelly @kenn_kelly
19. RETAIL @kennkelly @kenn_kelly
20. RETAIL @kennkelly @kenn_kelly
21. @kennkelly @kenn_kelly
22. WHEN? @kennkelly @kenn_kelly
23. PRE-INNOVATION @kennkelly @kenn_kelly
24. LONG TERM THINKING @kennkelly @kenn_kelly
25. DURING INNOVATION @kennkelly @kenn_kelly
26. SET IT AND FORGET IT! @kennkelly @kenn_kelly
27. The paradox of choice: TOO MANY GOOD OPTIONS? @kennkelly @kenn_kelly
28. POST INNOVATION @kennkelly @kenn_kelly
29. MOBILE DESIGN & DISTILLATION @kennkelly @kenn_kelly
30. @kennkelly @kenn_kelly
31. @kennkelly @kenn_kelly
32. @kennkelly @kenn_kelly
33. A/B PRICE TESTING @kennkelly @kenn_kelly
34. A/B PRICING CRITICS @kennkelly @kenn_kelly
35. CUSTOMER ENGAGEMENT @kennkelly @kenn_kelly
36. ORGANIZATION @kennkelly @kenn_kelly
37. @kennkelly @kenn_kelly
38. @kennkelly @kenn_kelly
39. @kennkelly @kenn_kelly
40. PRICE A $87 PRICE B $137 @kennkelly @kenn_kelly @kennkelly @kenn_kelly
41. PRICE A $87 VIEWS 1,726 PRICE B $137 VIEWS 1,817 @kennkelly @kenn_kelly
42. PRICE A $87 VIEWS 1,726 CART 107 PRICE B $137 VIEWS 1,817 CART 73 @kennkelly @kenn_kelly
43. PRICE A $87 VIEWS 1,726 CART 107 CHECKOUT 56 PRICE B $137 VIEWS 1,817 CART 73 CHECKOUT 35 @kennkelly @kenn_kelly
44. PRICE A $87 VIEWS 1,726 CART 107 CHECKOUT 56 PURCHASE 41 PRICE B $137 VIEWS 1,817 CART 73 CHECKOUT 35 PURCHASE 29 @kennkelly @kenn_kelly
45. PRICE A $87 VIEWS 1,726 CART 107 CHECKOUT 56 PURCHASE 41 REVENUE $3.6K PRICE B $137 VIEWS 1,817 CART 73 CHECKOUT 35 PURCHASE 29 REVENUE $4.1K
46. PSYCHOLOGY OF PRICING @kennkelly @kenn_kelly
47. REVENUE PROFIT @kennkelly @kenn_kelly
48. PROFIT > REVENUE @kennkelly @kenn_kelly
49. “...marketing and innovation.” @kennkelly @kenn_kelly
50. @kennkelly @kenn_kelly neversettle.it FREE RESOURCES NEVERSETTLE.IT/RESOURCES