July 2017 Update
July 31, 2017
2 years ago
Hello Shopify world!
Hot off the heels of Shopify’s Q2 financial updates this morning, I figured I wouldn’t waste time writing our second monthly Storetasker update. The response on the first update was great. I was very nervous about sharing our figures on a monthly basis (still am), but the end goal is to get out of my comfort zone, remain accountable as a self-funded business owner, and continuously communicate and refine the vision.
My favorite stats from today’s Shopify updates, relevant to Storetasker:
1. Shopify now powers 500,000 businesses and more than 1.2 million people are actively using the Shopify backend platform
2. Shopify’s third-party partner ecosystem, made up of creative agencies, freelance designers and developers, digital marketers, photographers, SEO specialists and brand strategists, generated an estimated $430M in revenue in 2016.
If you didn’t read our June update, it provides the backstory and context for what Storetasker is and what we’re aiming to become. Read it here.
July sales started off slow with Canada Day and Independance Day. Our sales in the first week were lower than a comparable week in early March. We managed to gain some momentum in weeks 2 to 4.
Our July Metrics:
Gross Merchandise Value (GMV) in July: (GMV stands for the total value of goods or services transacted on the platform) $54,819 (+15%)
Total GMV since January 2017: $205,665
(I consider this to be a fraction of the value created in the Shopify ecosystem, as the merchants we serve can accelerate their sales, and growth with the right service providers behind them)
- Total installs (registrations): 1682
- New customers in June: 105
- Repeat customers in June: 115
- Average order value (AOV): $195.78 (down slightly from June)
- Average revenue per users (ARPU): $293.15 (down slightly from June)
- Storetasker expert pool: 58 (34 active daily)
Popular Shopify jobs done on Storetasker in July:
- Complex product page customizations
- Multi-language store configurations
- Store setups for service companies (realtors, fitness professionals)
- Site speed and on-page SEO optimization
- Product feed configurations, migrations and imports
- Multi-channel inventory syncing
- Premieum Shopify Theme tweaks
- We added fewer Shopify experts to the Storetasker pool in July. The existing experts are getting more experience and they are more effective within the platform.
- Storetasker experts are connecting with each other in a private Slack channel. This community has had a number of positive effects on their growth and on the feature roadmap of the platform. Knowledge sharing and collaboration is happening daily within the community, despite the limited features that facilitate this inside the app. Sub-user feature, warm transferring of merchants/jobs, and income sharing are just a few features we’ve added to our backlog to improve the overall experience.
- We deployed a feature called ‘’add to scope’’ which allows for experts to easily manage bigger jobs or added scope elements to a job that is in progress. It also allows for the merchant to stagger payments for bigger sized jobs. Ex. Instead of lump sum pre-payment of $3000, payments can be made in a few installments as the project progresses.
- We started interviewing for a UX/UI designer and a Facebook ad specialist to handle these two key aspects of our business internally
- We focused on inviting more agencies to be referral partners
- Carson continues to be our leading source of referrals
- The repeat sales are nearly matching the new project sales, helping us confirm that merchants are getting value from connecting with the expert pool.
- Smaller agencies are using the app to deliver work to clients, that falls outside of their circle of competence, but allow them to deliver a broader range of services to merchants and increase their revenue.
- The growing confidence of the Storetasker experts — in themselves, in the platform and in our direction.
- Although the GMV is up, we didn’t hit our growth objective of +20%.
- Higher expert attrition
- Our current expert pool has raised the standards of our vetting process, making it harder to be approved, and slowing down the rate of new experts joining the platform.
- Our development interns, Chris W. and Ken M., confirmed will be returning to school at the beginning of September. They have contributed a significant amount of work, thought, code and support. They will leave a big gap on the team. We wish them luck!
- The process for bringing on agencies as partners is working, but the cycle from introduction of Storetasker to the implementation of a process that sends leads to the platform, is longer than anticipated.
What are we doing in August?
- Working on new features: a marketplace of prepackaged, curated Shopify jobs, adding a retainer option for recurring jobs, creating public expert profiles, and taking the app out of the Shopify iframe/environment
- Looking to partner with more mid/high level Shopify agencies to help us increase lead flow to Storetasker, and ultimately help more merchants with mid-level jobs
- A bigger focus on UI enhancements
- Reinvesting our profits into new hires: a UI designer and a Facebook ad specialist
- Attending Shopify Shopclass in Calgary as a sponsor
There’s the second company update. I’m looking forward to the next few months as we enter the most important season for eCommerce. We have a number of things planned and the biggest challenge now is deciding where to reinvest and what to prioritize. As a self-funded project, we need to move smart and steady.
I look forward to the next update.
See you next month!
Want to work with us:
1. As a Shopify merchant: Get projects done to help you grow your store. Post a project here.
2. As a partner: Agencies, theme developers and influencers: partner with us and earn from every referred job. Register here
3. As a project seeker: We’re hiring a web/UI designer — send me an email email@example.com
4. As a vetted Storetasker expert: Apply here
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