AlphaBack

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Retro

Looking for Shopify Partnerships

We’re steadily turning the crank on web2 acquisition channels, with emphasis on partnerships, paid media, and TikTok. Challenges this week included ad rejections from automated systems that are too aggressive on financial products. Give it a read and send me your thoughts 😁

Highlights

  • Prospecting Shopify Owners. We created an explainer deck for a partnership opportunity that we’re looking to discuss with Shopify store owners. The offer is simple, we give e-commerce stores free credits on our ad platform in exchange for placing a post-checkout offer for a shopper to install the extension. We prospected 395 store owners and began an email sequence to connect with them. We’re also leveraging our network to get intros to store owners. Your help is welcome here!
  • Advertising. If at first you don’t succeed, try, try again. Such is often the case with ads, and Facebook has been especially frustrating. But we finally got a set of ads approved via Sandeep’s Facebook account. There, we’re averaging $0.75 CPC and 0.24% CTR, resulting in 10 bottom-funnel events at $9.70 CPA (e.g., clicking on the button, Install the Extension. Unfortunately, the Chrome Web Store does not offer deeper analytics via UTM parameters, so this is the final measurable step we can inspect). Unless we significantly reduce the CPC / CPA, Facebook does not appear to be a viable channel for user growth. But there is a bright spot among advertisers. Our Google search ads are averaging $0.14 CPC, 5.7% CTR 🀩, and 288 bottom-funnel events at $0.88 CPA!
  • TikTok In-Profile URL. Our content is steadily increasing the number of followers we have. We’re at 40% of our goal of 1,000 followers, which enables the in-profile URL feature that drives visitors into our funnel.

Obstacles

  • Shopify Owner Outreach. Despite having access to e-commerce owner contact info, they appear to be an email resistant bunch. Our current sequence is averaging a 2.9% open rate and a 0.3% reply rate. From experience, that is 10x lower engagement than expected. It’s possible the .xyz domain is causing our email to get routed into spam. We’ll continue investigating this issue.

Asks

  • We’re looking to chat with Shopify store owners with $1M-$10M in sales about lowering their CAC. Do you know any Shopify founders or marketers who might be interested in a 15 min. chat?

Thanks for your ongoing support πŸ™


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By Rod Fuentes

Authentic, exited startup founder. Exploring Web3, DeFi, NFTs. Co-founder @AlphaBack_xyz. Loves: coding, cooking, climbing, and CoLab machine learning 😜

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