how to look at churn in shopify

alright hey guys welcome to this video,real quick before I get started if you,have not already go ahead and join our,free public facebook group and the link,to that will be in the video and in the,description as well so anyway getting,into the video this video is going to,cover the difference between a,turn-and-burn style store versus a,long-term branded type store and this is,a difference that not many people,understand or most people don't even,think about what type of store they they,have they're just moving forward with,one of them so before we get into it I'm,going to say that 99% of stores are,churned and burns so getting right into,it so what is a turn-and-burn store so a,turn-and-burn is a store that's built,with the short term in mind with the,primary goal being fast large amounts of,money generated as quickly as possible,and some common characteristics of a,turn-and-burn store is the primary,traffic source is typically if not,always going to be just facebook,advertising and then these ads are,usually run directly to product pages,with the main goal being to just,generate one up front sale so it would,just be an ad that's like check out this,product and then you send it to the page,and your goal is just to generate that,one sale so the typical strategy is run,ads and then upsell them as much as,possible on that one sale so you'll,upsell them a bunch of products on the,one purchase and then you send out your,bin the card emails and Yuri target,people and that's it and you just pretty,much rinse and repeat this whole,strategy and this as i said this product,sounds familiar because this is what,ninety-nine percent of people are doing,and also there is a minimal focus on,Brandon customer service attaining,product reviews and developing a brand,culture and getting fed,and what I mean by fans is just people,that become extremely loyal to your,brand and like associate happiness and,positive emotions with your brand so a,good example of this is starbucks you,can think of how many people have,positive associations with starbucks and,how many people are fans of starbucks,turn burns usually don't focus on,cultivating fans or brandon too much,they're just running ads to generate as,much money as they can up front and,there's also a minimal focus on email,marketing SEO and content marketing so,pretty much turn burns are just in and,out so you can do high revenue numbers,but typically they're going to putter,out after a few months so a lot of the,case studies on YouTube and a lot of,videos that you see where people have,high revenue numbers it isn't always the,case when most of the time it is going,to be a turn-and-burn style store so,those numbers may be like that for a few,months but they're probably not going to,be like that in a few years if the store,even exist in a few years so that's put,a turn-and-burn is so now let's go over,what a long-term store is so a long-term,store is a store built with the long,term in mind obviously the goal is a,longer term sustainable revenue source,that continuously grows and can,eventually be sold so some common,characteristics of the long term store,are a strong emphasis on branding and,this is the most important thing and,then I also put in here branding on your,products so most of the time if you're,trying to brand effectively at this,point you're going to be putting your,brand on your products but this is the,most important characteristic of the,long term store because you think about,all the biggest brands in the world you,think about all the big e commerce names,and just big businesses in general they,all have excellent brand and you,sometimes some Brandon is so strong that,you associate certain colors with that,bread like you may see red and then you,immediately associated coca-cola and now,due to extremely strong branding so,another thing most of the time that a,long term store you're going to be,ordering in bulk and then getting in,house and country fulfillment so like a,fulfillment center so you would be,ordering your products in bulk from,overseas most likely with your branding,on them and then you'd be sending them,to a local fulfillment center and the,reason you'd be doing this is that way,you can do custom packaging and also,have quicker shipping times easier to,build a solid brand of quicker shipping,times and another thing is one of the,main focuses is going to be on building,a list of leads that turn into lifelong,customers and fans as we talked about,earlier and what I mean by this is,you're not just focusing on making one,sale and then never talking or reaching,out to that customer again but you're,actually trying to cultivate a long-term,recurring customer so you're trying to,develop loyal fans that are following,your brand and actually associated with,it at a positive way and there is a,strong emphasis on other long-term,strategies such as email marketing SEO,and content marketing you're also going,to be creating a brand culture that,people want to be a part of so we go,back to the starbucks example when you,go into a starbucks there's usually just,a certain culture a certain vibe it's,inside of starbucks it's kind of like a,relaxed like people are just coming in,they're getting coffee there on the,computers they're on their phones,they're on the free Wi-Fi it's the,culture around the brand that is one of,the main reasons why they have such,large success so this is something that,a lot of long-term ecommerce stores are,going to be focusing on as well so what,is the verdict what should you be doing,looking this information so as I said,earlier 99% of stores are churned and,burns and the majority of people want to,do turn and burns and this is because,most people want quick money with the,least amount of effort possible and this,is actually a good thing for people to a,long term because it means there's less,legitimate competition because it's,relatively easy to crush competitors,that are using the turn and burn method,because since you'd be playing long term,you can spend more on Lee,its customers and you're going to,dominate a wider array of traffic,sources because you'll be doing more,than just facebook ads now don't get me,wrong I don't want to say that churn and,burns are bad because money is money and,profit is profit and the majority of the,time it's actually better off just throw,it off with the churn and burn it's that,way you get some initial money that way,you understand how e-commerce works so,that way you get the experience and then,you can apply all of the things that you,learned from your turn and burns to a,longer-term store but one thing to note,is that they do have a smaller long-term,upside because most likely they're just,going to put her out shut them down you,know so do another one and over time,this is actually going to end up being,more work because you have to figure out,all these niches to go into keep finding,new products and this actually ends up,being more work than just having one or,two just steady long-term style brands,because eventually those could be sold,in the future but as I said turn and,burns are usually the best way to start,for beginners just because you need to,get the experience you need to get used,to the process could use the house l in,online works and you can also use,profits from turn and burns to find a,longer term project so with that being,said that's it for this video once again,if you have not joined the facebook,group go ahead and click the link in the,video or the description to do that and,i'll see you in another video

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