• How To Increase Your Net Profit Margin By 10% in 10 Minutes — Idries Erfan | How to Combine Product and Service Upsells, Why Service Upsells Hit 40-60% Conversion, Why Extended Returns Increase Holiday Sales, Why Package Protection Converts 50-70% (#352)

  • Nov 20 2024
  • Length: 57 mins
  • Podcast

How To Increase Your Net Profit Margin By 10% in 10 Minutes — Idries Erfan | How to Combine Product and Service Upsells, Why Service Upsells Hit 40-60% Conversion, Why Extended Returns Increase Holiday Sales, Why Package Protection Converts 50-70% (#352)

  • Summary

  • In this episode of the Ecommerce Coffee Break, Idries Erfan, founder at protectmyorder.co.uk, shares actionable tips to increase net profit margins by 10% or more.

    Learn how innovative service-based upsells, like stolen package protection, outperform traditional strategies and uncover quick, practical ways to optimize your Shopify store's checkout process.

    Topics discussed in this episode:

    • What 300+ merchant interviews revealed about profit margins in the post-iOS 14 era
    • How service-based upsells reach 40-60% conversion vs traditional 2-3% product upsells
    • Why stolen package protection converts at 50-70% of concerned customers
    • What makes optimal upsell pricing range from 2-9% of cart value
    • How merchants boost profits by 10% in under 10 minutes with protection services
    • Why extended return windows drive sales during Black Friday season
    • What makes carbon neutral shipping a compelling modern upsell
    • How to combine product and service upsells effectively
    • What A/B testing shows about optimal upsell placement
    • How success-based pricing eliminates risk for merchant protection services

    Links & Resources

    Website: https://www.protectmyorder.com/
    Shopify App Store: https://apps.shopify.com/protectmyorder
    LinkedIn: https://www.linkedin.com/in/idries-erfan/

    Get access to more free resources by visiting the show notes at
    https://t.ly/gIP5p

    SPONSORS:

    Elevar – Powering Conversion Tracking For Over 6,500 D2C Brands. More Info: https://www.getelevar.com/BFCM/

    Autron – The Anti-Agency for Amazon Ads. More Info: https://autron.ai/

    Try Shopify: Get your first 3 months for $1/month. Earn up to $10,000 in credits: https://tinyurl.com/try-shopify

    MORE RESOURCES

    Download the Ecommerce Conversion Handbook for store optimization tips at https://tinyurl.com/CRO-ebook

    Best Apps to Grow Your eCommerce Store: https://ecommercecoffeebreak.com/best-shopify-marketing-tools-recommendations/

    Become a smarter online seller in just 7 minutes
    Our free newsletter is your shortcut to ecommerce success. Every Thursday. 100% free. Unsubscribe anytime. Sign up at https://newsletter.ecommercecoffeebreak.com

    Rate, Review & Follow
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