Summary
Post Black Friday Weekend Ananlytics
SHOPIFY METRIC OVERVIEW
All Time Overview
We’ll keep track of primary metrics here, from “all time” (middle of October to present.)
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Shopify Overview W3 vs W2
Shopify details of week 6 (green line) versus week 5 (gray dotted line.)
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Newsletter Comparisons
Black Friday Weekend Emails
I separated out this past weekends emails from the previous newsletter campaigns below.
Previous email campaigns
To compare Black Friday emails against previous emails. You can click through. Most recent to oldest.
Discounts
I think we should hold off on using Discounts for the remainder of the year. I agree your buyers are not motivated as much by discounts. The 10% discount has a much bigger impact than the 5% ones. The most recent had 60 uses.
Ads and expenses Summary
I’ve added monthly subscription and newsletter fees to the totals below. This should help figure out your ROI.
Non-Development Expenses: $3166.53
FB - $1800.26
Pinterest - $175.99
Newsletters - $153.40
Shopify Subscription - $897
Shopify Apps - $139.88
Remaining from $5k ad budget:
$1833.47
Average Spend Remaining Per Week:
$916
ROI and Remaining Spend
I might recommend putting your remaining spend on re-targeting ads only. They seem to have a good impact and we might capture folks from the previous marketing efforts. Based on the information below, I’d understand if you just wanted to pull back the ad spend for the rest of this campaign. I’m assuming I’ll need to continue with the newsletters.
Excluding development costs and marketing support between myself and the folks hired to help get the store up and running, your profit against your spend has been $2,163.62
The real experiment is to see how this type of effort holds up in a non-holiday season. With a current ROI of 68% (which is really good) you have a potentially solid business model, assuming you folks take over your own marketing for this project, which it seems Skyler is working towards.
This is an unusually high ROI, but “Black Friday” is all about retail establishments getting out of the red because generally the earlier 3 quarters is fighting to break even.
Keeping the ROI above 15% over the next year will be a challenge, but it seems feasible given this initial run. The question is, what is your financial goal for this project. If you’re yielding roughly 10% on net sales, and sell $100,000 over the course of the year, then your profit will be $10k, not including taxes owed on the income.
Will the ad spend scale? If you spend $10k, will you profit $6800? If you spend $50k, will you profit $34,000? The gamble continues, but you should be able to experiment month to month in the earlier part of 2021 to see how it fares in the off season.
Ad Detail
Facebook Ad Detail for Black Friday Weekend
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10 Most Popular Products
By Quantity Sold - All Time - Week 5 vs Week 4
