Whiteboard Wednesday: What is On-Site Conversion?

For today's Whiteboard Wednesday, we’re here to talk through a big question we get all the time: What is on-site conversion and how do you calculate your conversion rate?

Watch the video below or continue reading for a full transcript:

 

 

Transcript:

Hey everyone, Josh here from Privy. For today's Whiteboard Wednesday, we’re here to talk through a big question we get all the time: What is on-site conversion and how do you calculate your conversion rate? If you’re new to this whole ecommerce thing, it may sound kind of complicated, but it’s actually easy to figure out.

When we say conversion, we simply mean of all the people who visit your site, how many of them sign up for your list or buy something from your store? This is a great way to see how well your store is performing.

Think about it this way. Imagine you own a store in a local shopping mall.

On any given day, 100 people walk in to take a look around. Of those 100, two of them decide to buy. You would have an in-store conversion rate of 2%. This is exactly what we’re talking about with your online store, but with traffic numbers instead of walk-ins.

To calculate your conversion rate, you’ll want to know:

  • How many people visited your website or online store? You can find this in your Google Analytics sessions.

  • How many of those your visitors gave you their contact information?

  • How many made a purchase?

So, look at all your signups and sales from that same week, remove the duplicates from your count, and you’ve got what you need.

Let's illustrate why this is so important with some simple math. Let’s assume that every time someone makes a purchase from your site they spend $30.

If you have 1000 visitors daily, and you convert 1% of them to a paying customer, then you’ll take in $109,500 annually. At 2%, that’s $219,000. And at 3%, you’ve just bagged $328,500!

By improving your conversion rate, you can significantly impact your business without spending any more money to drive traffic to your site.

So, now you know! Stay tuned for future Whiteboard Wednesdays each week. Catch you next time!

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5 Ways to Stay Zen This Black Friday and Cyber Monday

It’s here! It’s here! Black Friday and Cyber Monday are finally here! We’re jumping up and down over at Privy HQ thinking about all of the incredible things you’ll all be doing this weekend (and of course, the fantastic deals for our holiday shopping, too).

Even though this weekend is an incredibly exciting time for any ecommerce business, it’s also a stressful one. You’ll be taking more orders, offering more deals, and generating more business in the span of two days than you might normally do in a month or even the whole year!

In the immortal words of Douglas Adams in Hitchhiker’s Guide to the Galaxy, “DON’T PANIC.” You’ve put a lot of hard work into your Black Friday and Cyber Monday plan. Now, it’s time to get into the zone as the orders flow in.

Even though it’s stressful, don’t run from it. We crowdsourced a few tips from our staff on how we stay zen and take that much-needed break during busy times—so put on some Enya, light some candles, and come along with us:

Watch Your Favorite Childhood Movies

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Whether you used to watch and re-watch the Goonies, love traveling to a galaxy far, far away, or are obsessed with all things Disney, put on your favorite childhood movie, pop some popcorn, and enjoy the feeling of wrapping yourself up in a pop culture security blanket. Our marketing manager Kayla swears by a double Disney feature of Lion King and Mulan for maximum sing-a-longs.

Clean Your House or Apartment

“A cluttered home is a cluttered mind,” or so our mothers liked to tell us. But it really is true: Cleaning your house, throwing out or giving away things you don’t need, or making things spic and span really do help you think more clearly. Our head of engineering, Peter, says it has bonus of allowing you to step away from your computer for a bit. Blast some music and revel in your domestic badassery.

Do Yoga or Meditate

If you’ve never tried meditation, now is a very good time to start. Download an app like HeadSpace and let the relaxation begin. You can choose one-off meditation or full length packs on a specific theme (like stress) depending on what you’re feeling.

Our designer Meg says you just can’t go wrong with a little yoga. Known as moving meditation, you’ll get a chance to let your stress out with a few downward dogs and some good ol’ fashioned om-ing. There are tons of free yoga classes out there on Youtube, or you can subscribe to a site like YogaGlo.

Bake a Pie

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If you’re feeling super stressed, try baking a pie. Because nothing is more stressful than trying to blind bake a two-crust pie from scratch, trust us. Or you can just buy a pie to bypass the stress. Then you’ll have a pie, and life can’t be bad when there is pie involved. Bonus points if you binge watch the Great British Bake Off while doing this. Our head of marketing, Josh, definitely agrees with pie of all kinds. (Yes, pizza counts).

Cue Your Musical Number

If all else fails, the only way to get rid of stress is to cue up an angsty musical number in which you strike dramatic poses and sing about your feelings while lightning strikes in the background. You may need to break into your old high school to do it (and our favorite teen musicals) justice, but running around your apartment and belting out your favorite song will do. One of our engineers, Patrick, goes for a Queen anthem whenever he needs a break.

Have Fun!

We’re just kidding on that last one—which reminds us of a bonus: Have fun this weekend! Our CEO and Founder Ben says this is the most important thing to remember.

Black Friday and Cyber Monday are stressful, to be sure, but it’s stressful in the best kind of way. You’re following your dreams and making the hustle happen, so celebrate! If you have a team and it’s all hands on deck, order in some pizzas, blast some music, and make it a festive atmosphere. (Or hey, order that pizza for yourself! You deserve it.)

From all of us at Privy, good luck this weekend—you got this!

Six Key Takeaways from our Black Friday Bootcamp Webinar

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In case you missed it, we recently hosted webinar with week-by-week instructions for how to plan, execute, and follow up on your Black Friday/Cyber Monday promotions.

It’s a big time of year for online retailers of all sizes, and it should be a big win for your business.

Here are six key takeaways from the session to help you win this Black Friday:

  1. Start today by writing down a plan and some goals: Knowing exactly what you hope to sell over the big weekend will help you create your offer and messages.

  2. Create an offer that works for you and your customers: While shoppers generally expect some sort of discount when they buy, don’t offer more than you can afford to give.

  3. Think mobile first: Most people will start their shopping from the comfort of the Thanksgiving day table or a nearby couch. Make sure your site and on-site pop-ups work correctly and are easy to read on a mobile device.

  4. Get a jump on the competition: You don’t have to wait until Black Friday to start your sale. Start your Black Friday push on Thanksgiving or sooner.

  5. Use pre-scheduled emails to drive people to (and back to) your site. Send a pre-sale email announcing your offer with some featured products, send a “sales starts now” email on Thanksgiving, and a “sale ending soon” email on Cyber Monday to make sure you’re top of mind for your shoppers. You’ve been hard at work building your list. Don’t be afraid to use it!

  6. Stay active and alert on social media throughout the weekend: Reinforce your emails with free and paid social posts that promote your offer and your products. And keep an eye on any incoming messages to make sure you’re providing great support as people shop.

Miss the webinar? Don’t worry, we recorded the whole thing.

 

Welcoming Ted Ammon and Jess Fishman to Privy

Join us in welcoming two new members to the squad.

Jess Fishman

Jess Fishman, Customer Service Specialist.

Jess Fishman, Customer Service Specialist.

Jess joins the Privy support team from Constant Contact, where she was trained in the ancient art of customer support from Mr. Miyagi himself. Here's a clip of the early days of Jess' training. It was there that she spent years mastering her focus, her patience, and her ability to eat customer support tickets for breakfast, lunch, and dinner. Welcome, Jess! 

 

Ted Ammon

Ted Ammon, Director of Sales.

Ted Ammon, Director of Sales.

Ted joins Privy as Director of Sales. Most recently, Ted spent 6 years at HubSpot working with small businesses to implement inbound marketing methodology. Fun fact: Before transitioning his career to helping small businesses with their marketing, Ted was a well known surfer, known for pushing the limits. Word on the waves is that his surf life is the subject in the upcoming documentary, Bunker77

Welcome, Ted and Jess! We're so glad you're here.

Introducing Discount Sync for BigCommerce

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If you’re running an online store, you know how impactful offering discounts like percentage off, free shipping, or dollars off can be in taking someone from shopper to customer.

Introducing Discount Sync for BigCommerce

You can already create discounts in Privy that sync directly with Shopify stores and now we are excited to announce that you can create Unique and Master Discount Codes in Privy that will sync automatically to your BigCommerce store.

For example, you could offer:

  • Free shipping on every purchase over $25

  • 10% off all purchases by made by the end of the month

  • $15 off all purchases over $100

Discount Options

Creating a discount only takes a few minutes and you have a bunch of great options to build an irresistible offer.

1. Choose a Coupon Code Type:

  • Master Coupon: Use a single coupon code for everyone who signs up for your campaigns. This is great if you want the widest possible distribution of discount and can be included in emails and social posts.

  • Unique Coupon: This option lets you deliver codes that are unique to each signup which improves tracking and reduces the risk of a discount getting abused.

2. Choose a Discount Type:

There are three types of discounts available to choose from depending on what offer you think will drive the most purchases.

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  • Fixed amount: Deduct an exact  dollar amount from the price. Does this apply to the whole order or each product? Is there a minimum order value that this applies to?

  • Percentage: Deduct a flat percentage from the order. Does this apply to the whole order or each product? Is there a minimum order value that this applies to?

  • Free Shipping: Do you want a minimum order value for the free shipping offer to be valid? Do you want a maximum shipping price for the free shipping offer to be valid?

3. Set Your Discount Schedule

  • When do you want this coupon code to begin to be valid?

  • Do you want to have an end date for when the code can be used?

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How it Works

Creating BigCommerce discount codes to use in your Privy campaigns is simpler and faster than ever.  

To create a Master Code, a single discount that is distributed to everyone who participates in your campaign, go to the Coupons tab in your Privy Dashboard and select new coupon.

Choose BigCommerce as your source and Master as the type, then build your discount using the options below. When you hit “save,” the discount will be ready for use in your Privy campaigns and in your BigCommerce store. This is available for all Privy users, regardless of what plan you’re on.

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If you’re on our Commerce or higher plans, you can use this same approach to create Unique Coupon codes. That means when someone fills out a form that entitles them to a discount, a new code is dynamically generated and delivered on the thank you page of your Privy campaign and/or in an autoresponder email that will be live in your BigCommerce Store. Click here for more detailed instructions.

It’s really that easy. Now as you create targeted campaigns based on Page URL, Cart Value, and more, you can easily create and use BigCommerce discounts specific to those audiences.

Not sure what type of offer to go with? This article can help you think it through.

Announcing Two Big Milestones: $2M in Funding and Now Serving Over 200,000 SMBs

Today, we’re excited to announce several major milestones. As of November, Privy now supports over 200,000 small and medium ecommerce businesses in over 180 countries. Collectively, these sites push over 1 billion consumers through Privy campaigns every month.

 

 

We’re truly humbled at how many entrepreneurs and marketers have turned to Privy to build strong relationships, grow their lists, convert new customers, and drive more sales.

In the past 30 days alone, Privy helped merchants drive over 5 million completed checkouts, and a total of over 35 million completed checkouts in 2017.

Privy’s on-site conversion platform simplifies the way new businesses and marketers engage and convert website traffic into first time and repeat buyers. The user experience is turn key, enabling our merchants to immediately drive more value through their shops.

So today, in addition to announcing this incredible user milestone, we’re also excited to share that we have closed just over $2 million in new funding from Accomplice, Kiwi Ventures, and angels including Mike Volpe, former CMO of HubSpot.

At our core, we believe that if entrepreneurs are taking the risk to pursue their dreams, the marketing software platform they adopt should remove headaches and help them get there faster.

“This new round of funding will help us further expand our capabilities and transition from a point solution for on-site conversion to a full marketing automation platform for small and medium sized ecommerce businesses,” says Ben Jabbawy, Founder and CEO at Privy. “With our rapidly growing user base, we’re excited to help our entrepreneurs and established marketers solve more problems under our roof.”   

In a few clicks, we want to enable new business owners with no technical skills, as well as more established marketers, to run effective campaigns that have an instantaneous impact on their stores.

The last two years, Privy has have grown revenues 300% year over year while tripling team size each year.

“With limited resources, the Privy team has achieved unparalleled growth rates. Executing their vision to be HubSpot for ecommerce, Privy is poised to become a standout platform,” says Ryan Moore, Managing Partner at Accomplice.

And that growth shows no signs of slowing down.

Says Mike Volpe, former CMO of HubSpot, “Privy has proven their ability to grow with very low cost of acquisition in the extremely crowded small-and-medium business martech market. I see tons of companies in this market and most of them have major issues standing out from the noise and having a scalable go-to-market model. Privy’s model and metrics are outstanding and are the critical ingredient for success.”

With this new funding, we can now invest even more into expanding our platform, accelerating our go-to-market, driving customer success, and investing in user education and support.

Stay tuned for even more great things happening behind the scenes.