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What is Shopflo?
Shopflo is a profit optimization platform for e-commerce businesses. An independent e-commerce merchant should be able to deliver top-notch consumer experiences. Similar to retail behemoths like Amazon, Flipkart, and Swiggy Our mission is to level the playing field on technology for the challenger D2C merchants.
Here's a short video which could bring you up to speed one more time:
What can Shopflo really help my business optimize?
Your revenue is a function of a lot of different variables. All things considered constant, a quick and dirty equation for revenue from your website channel is:
While your website visitors depend on your ad budgets, brand and platform reach, we help you take care of optimizing conversion rates and AOV (average order values).
Conversion rates:
- We work on the bottom half of the funnel where there is a more direct impact on your brand's bottom line & less subjectivity. (In comparison, top of funnel conversion is better handled through UI/UX changes, hyper-experimentation and understanding your customer persona just a little better)
- Even in our funnel of action, there are a lot of user actions happening sequentially - such as phone number input, address input, trying our multiple discount coupons, payment and so on. Within our platform, there are specific set of products you can explore to attack these points separately or in combination as well.
- It's important to note that Shopflo is an optimization platform which is supposed to be used by you. Without enough experimentation and testing, it's not going to be easy to achieve the best converting funnel for your brand's website.
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Average order value (AOV):
- Visitors are not going to purchase as frequently from your websites as they would from marketplaces like Amazon. It's important to ensure they buy as much as possible in the first go itself (in addition to more direct revenue, it also leads them to try more of your products and hence a higher chance of repeat purchase in the future).
- Through Shopflo's UI customizations, custom shipping rules, and value-uplifting discounts etc., brands can promote their shoppers to maximize UPT (units per transaction) or AOV (average order value) of their purchases.
- While conversions have a direct correlation with revenue, it might not always lead to higher order values. For example, if the conversion increase happens because you introduced a 20% discount on all purchases, your order value is bound to take a 20% negative hit.
Your cost of sales is a function of a lot of things, but let's focus on what's easily controllable through software. Shopflo, as a platform, allows you to bring down your cost (hence, increasing your effective ROAS) by giving you control over these 3 levers:
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- If your return rates go up, your blended cost of acquisition comes down for all purchases. Through Shopflo Rewards and other features, this is not a difficult feat to achieve.
- A big part of cost optimization is cost measurement. Most of the brands we talk about struggle with sales attribution & hence are somewhat deploying ad budgets in under-performing campaigns. A big part of Shopflo is our analytics stack, which helps you get an in-depth view of where your sales are coming from & how are channels affecting your conversion rates.
- Tons of features to minimize your return rates by making your checkout more transparent, user-friendly, trustworthy & to be able to protect against fraudulent orders.
We can't wait for you to explore more of our platform features. Welcome onboard!
