Global Finance has announced its annual list of the world’s ten richest countries. We would have anticipated seeing some of the world’s “most powerful” countries on the list, but the top is dominated by small countries with strong finance sectors and other lucrative industries.
This is where we might consider what makes a country “wealthy.” Global Finance provides a solution to the question: “The value of all products and services generated in a country is measured by the gross domestic product (GDP). However, dividing this value by the number of full-time residents is a better way to compare the wealth or poverty of one country’s population to that of another.” They claim that in the case of this year’s list, the link between wealth and small land size is that the economies of these little countries are significantly larger than their inhabitants.
When inflation is considered, the study looks at purchasing power parity (PPP). However, this does not imply that everyone in the top-ranked countries has a lot of money. It’s also likely that the wealthy elites own much of the money and that some individuals are battling to maintain their finances stable.
According to the survey, several of the countries on the list (primarily in Europe and Asia) are tax havens. This indicates that their wealth is derived from other countries, yet the consequences and legal practices cause their GDP to rise.
Photo: Collected
Luxembourg, for example, is at the top of the list. It is known as a tax haven, and accounts in its banks can be opened from outside the nation. Nonetheless, it is a famous tourist destination because to its castles and high standard of living for its residents. It was also one of the countries that escaped the Covid epidemic unscathed.
Singapore is also a tax haven due to the absence of capital gains and dividend taxes. This is one of the reasons Eduardo Saverin, co-founder of Facebook, relocated his money there and is now the world’s second richest man. The city is rapidly expanding and is quickly becoming a significant financial center.
The remaining countries on the list are in similar situations: there are financial opportunities that allow entrepreneurs and multinational corporations to take advantage of how they see taxes and end up investing. Most of the time, this benefits local company owners more than ordinary citizens.
Here is a list of the world’s ten richest countries in 2023:
Kim Jung-youn is the 18-year-old daughter of Kim Jung-ju, the founder of Nexon, one of the ten largest interactive video game businesses in the world, which owns several well-known properties. The man died in Hawaii last February at the age of 54, leaving behind his wife and two daughters, who received a substantial portion of Nexus shares.
Inheritances
Jung-youn and her older sister Jung-min received a 30.78 percent share in NXC, the holding company, from Kim Jung-ju, who has nearly a 48 percent ownership in Nexus, according to a Forbes story citing regulatory records. At the time of his death, Kim Jung-ju was the third richest man in South Korea, and his youngest daughter is currently the world’s richest billionaire. According to Forbes, each sister has a net worth of one billion dollars.
For her part, the businessman’s wife Yoo Jung-hyun inherited 4.57% shares in NXC, adding to her husband’s billionaire fortune (he appears on the list of the wealthiest people in Korea) since she helped found the company in 1994 and holds 34% of its shares, making her the company’s largest shareholder.
With this move, Kim Jung-youn replaces Kevin David Lehmann as the youngest billionaire in the world. Lehmann is also an heir; his father, Guenther Lehmann, transferred a portion of his shares to him when he was 14 years old, with the intention that he acquire them at the age of 18. Currently, he is 20 years old. Austin Russell was also abandoned.
Kim Jung-youn, like the rest of his family, keeps his life private. Particularly after he became involved in philanthropy, her father avoided media appearances and endeavored to keep his life out of the public eye. In reality, it was revealed shortly after his passing that the guy suffered from acute depression that deteriorated throughout his final months of life. The cause of his death was not specified.
It is unknown whether the two young women would follow in their mother’s footsteps by working for the corporation in the future.
MyShopify is popular web software that allows anyone to construct an e-commerce store easily and rapidly. When a user first starts a Shopify store, they are granted a store URL in the format anything.myshopify.com. In other words, if you build a Shopify store, your store will initially contain the element “MyShopify.com.” Due to the fact that over 1 million stores have been built with Shopify, there are also a large number of stores with “MyShopify” in their domain.
While you are originally allocated the myshopify.com name, the majority of users choose to change their store’s domain to something more appropriate, such as awesomestore.com, as this can be more effective for attracting customers and establishing their confidence. Why then do some store owners continue to utilize the MyShopify domain? Changing your Shopify store’s URL to a custom URL generally includes purchasing a custom domain name and linking it to your Shopify account. In other words, it needs a small amount of money and work (typically between $10 and $15 every year), which some individuals may not be prepared to commit.
What is MyShopify?
MyShopify is a free URL supplied by the Shopify eCommerce platform when an account is created. As is the case with other online stores and websites, Shopify provides you with a free domain name or subdomain.
This sub-domain appears as such: yourstorename.myshopify.com.
During the Shopify signup process, merchants choose a store name, which substitutes the “store name” portion of the MyShopify domain described previously.
Consequently, this enables retailers to build a Shopify store without purchasing or transferring a custom domain name. It also means that free-trial users can experiment with the Shopify interface and view a live version of their website on the web without entering payment card information.
MyShopify is a feature of the Shopify eCommerce platform that allows merchants to host a live website at no additional cost. The functionality consists of a sub-domain, which merchants can keep or replace with a custom domain for their eCommerce business at a later date.
How does MyShopify Work?
Shopify is a solution that is hosted. This means that it operates on its own servers and you do not need to purchase web hosting or install any software to utilize it.
You do not own a copy of the product, but instead, pay a monthly price to use it. You may manage your store from anywhere with access to a web browser and the Internet.
With Shopify, everything you need to develop and sell an online store — including designs, a payment processor, a blog, and email marketing tools — comes “out of the box.”
However, you may further customize your store by adding apps (more on this later) or by writing custom code.
Myshopify.com is Owned by the Shopify eCommerce Platform
Myshopify.com is a domain name held by Shopify, a Canadian firm. The corporation is a real, publicly traded enterprise with eCommerce revenue in the billions of dollars.
Shopify generates revenue by offering online sellers back-end web software and hosting services. As a result, Shopify is a very popular software solution for small businesses that want to start their own online store but cannot afford to build their own website and order processing software from scratch.
Let’s pretend Lena has a modest flower business in her town as an illustration. She believes that by selling floral arrangements online, she may reach a larger audience, so she plans to launch a website. She will likely utilize or at least contemplate utilizing Shopify to manage her online flower shop.
Why Choose MyShopify?
Shopify is an incredible winner if you have the basic technical knowledge and lack the funds to hire a web developer. It is an all-inclusive, plug-and-play, feature-rich, scalable platform with an assortment of elegant templates.
The total adaptability and usability are complemented by performance and dependability.
Benefits of MyShopify:
Usability: Shopify is the most user-friendly platform
Design: it offers tons of good-looking themes
Performance: no-stress uptime and speed
Support: Shopify has lost certified partners that can help you
Apps: Hands down the best app to sell are on Shopify
Dropshipping: integration with Ordoro
Value: Pricing plans designed to scale as you grow.
Is Myshopify Store Name Important?
When opening an account on Shopify, you are required to choose a store name. Your chosen store name is used to generate your Shopify sub-domain in the format https://yourstorename.myshopify.com. This subdomain is only for internal use, such as connecting to your Shopify account and maintaining your online business.
You may keep this sub-domain as the URL for your online store’s public-facing page, but we do not encourage it. To establish credibility and trust, we recommend using a domain that fits your brand and is memorable.
Nevertheless, if you want to disregard our recommendation and keep your Myshopify sub-domain as your customer-facing URL, you can modify your store name but not your Myshopify sub-domain. You must instead establish a new Shopify store.
If you use or plan to use your own custom domain, you can modify the name of your Shopify store for aesthetic purposes, but it will not affect your custom domain or myshopify subdomain.
Can you Change your MyShopify Store Name?
Yes, you can alter the name of your Shopify store. However, you should carefully consider this before changing the name of your online store. If you have already begun marketing and establishing brand awareness, altering your store’s name will be counterproductive and can ruin all of your brand-building efforts.
Therefore, while it is possible to change it to the fantastic new name you’ve imagined, doing so is dangerous. Before beginning, it is best to carefully consider the name of your store. If you include selecting the ideal name on your Shopify to-do list, it will not be overlooked. However, not everyone is able to set up their stores in a systematic manner, and Shopify has provided us with various possibilities.
How to Change Store Name on MyShopify?
Changing the name of your Shopify store is simple. Select “General” after clicking “Settings” in the bottom-left corner of the screen. The page will then contain a section titled “Store information.” There, you can change the name to whatever you choose. Click “Save” and navigate back to the homepage. The modification will be immediately reflected in your store.
What is MyShopify Domain?
A domain is the website address, often known as a URL, where customers may locate your online store.
When creating a Shopify account for the first time, you must choose a store name. This store name is used to generate your Shopify domain as https://yourstorename.myshopify.com. This domain is your principal domain by default.
This domain is used to log in to the Shopify administration dashboard. It is also permissible to utilize this URL as your customer-facing URL, but we highly advise against doing so. Instead, we suggest that you purchase and use your own custom domain name to establish credibility and confidence. Customers desire to transact with your brand, not Shopify.
Should you Buy your Domain from MyShopify?
Shopify offers a free trial and enables users to launch a store utilizing a subdomain of the Shopify domain. However, if you use Shopify’s subdomain, nobody would take you seriously. Therefore, when you are prepared to launch your brand, you must get a custom domain.
It is simple for Shopify store owners to set up a domain through Shopify, which is Shopify domains’ biggest selling point. Therefore, it makes sense for Shopify customers to purchase domains through Shopify, correct? However, there are numerous aspects you must examine before purchasing domains from Shopify.
We believe it is essential to explore the advantages and disadvantages of purchasing a domain name through Shopify. This will help you make informed decisions about whether or not to purchase a domain through Shopify.
How to Buy a Domain Name for MyShopify Store?
So, you’ve developed a Shopify-based store. Now you must set an address to it. In other words, a domain name must be purchased. By default, you will obtain a myshopify domain. This resembles my-store.myshopify.com. You can purchase a new domain, modify an existing one, or use an existing domain.
Buy Domain Via Website Admin
First, assume the scenario in which you need to purchase a domain utilizing the Shopify website administration. Follow these straightforward directions:
Open your Shopify store’s admin.
On the left, you will notice a menu from which you can access the Online Store section.
In the expanded menu, select Domains.
In the upper-right corner of the website, click on the Buy new domain link.
Now you should add the desired domain name. I wish to create the domain name books-for-soul, for instance. I inserted this text into the search field.
The system will offer available domain names that you can buy.
Select the most applicable option. There are categories for the Most Popular and Other Extensions. To add the domain name, click Buy next to it after selecting it.
Complete the transaction.
Reload the Domains page. If the transaction was successfully completed, your domain name will be added to this page. Select the Change primary domain link.
Now you must select the name and click Save. You will eventually be able to modify it.
Buy a Shopify Domain Using the MyShopify Mobile App (iOS or Android)
On your mobile device, launch the Shopify app and tap the Store icon in the bottom right corner.
In the section titled Sales channels, click Online Store.
Press Websites
Press the “BUY NEW DOMAIN” button at the top.
Enter the desired domain into the search box and view the available domains.
Select the desired domain and click the Buy button next to it.
Add your payment details and finish your order.
Reload the Domains display. If your new domain is available, it will appear here. Click the link Change primary domain.
Select your new domain from the drop-down menu and click Save.
Congratulations! Your new Shopify domain is now operational.
How to Change the Store’s Domain Name (URL)
Changing your store’s domain name (i.e. your-store.myshopify.com) is sadly not straightforward and takes additional processes, including creating a new account.
First, you must specify precisely what you wish to alter. Are your customers able to view your store’s URL? Then, you need only add a new domain to your store and make it the primary domain. You can either utilize the one you already possess or purchase a new one.
Simply follow the steps below:
Navigate to your store’s administration panel > Settings > Domains (https://your-store.myshopify.com/admin/settings/domains).
To get a domain, select “Buy a new domain” if you do not already have one. Shopify’s.com domain is $14 per year, which is a good price (GoDaddy’s is $13 for the first year). Due to the difficulty of transferring/connecting it to your store, purchasing the domain elsewhere is inadvisable.
After completing the purchase process, the new domain should appear in the domain list. Select the new domain by selecting the “Change primary domain” link and selecting it.
Click “Save,” and you’re done. Your store’s URL should now reflect the new domain’s URL. Please note that the old “myshopify.com” domain will continue to function and will redirect all traffic to the new domain.
Logging in to MyShopify
You can log in to Shopify using a desktop computer or the Shopify app for iOS or Android.
On your next login attempt, if you enter an erroneous password, you will be required to verify that you are not a robot. You will also be required to verify your identity if your browser is in private or incognito mode, or if you have wiped your browsing history since your last Shopify login. You must wait for all photos in each verification stage to load before clicking Verify.
Discover how to reset your password. If you have forgotten your Shopify login email address, please contact Shopify help.
What Requirements are Required to log in to MyShopify?
If you handle the account as a store owner, you must ensure that the user has a flawless experience and no logging problems. If you are the store owner and wish to access the Shopify store, you do not need to log in from a desktop computer. Additionally, you must verify the Shopify status online. In this case, all components function properly.
All signals are clear and functional. If you observe the yellow, red, or black icons in any portion, you must address the issue.
Log in to your MyShopify Admin on your Desktop
Navigate to the Shopify login page.
Click Next after entering your store’s domain or a custom store domain.
After entering your email address, click Continue.
Enter your password, then click the Login button.
If you have previously logged into your store on the same device, your store may be listed on the login screen. In such a circumstance, you can log in by choosing your store, and you will not be requested to provide your email address again.
Log in to your MyShopify Admin on your Android/iOS Device
Follow these steps to access your Shopify admin from your Android or iOS device:
Download Shopify’s mobile app
Once the application is installed, tap it to launch it.
If you already have a Shopify account, select a login and enter your email address and Shopify store’s password. Tap Sign up if you wish to create a new Shopify account.
Tap Log in
Install and log in to the MyShopify App
Download Shopify’s application.
Once the application is installed, tap it to launch it.
If you already have a Shopify account, select Login and enter your Shopify store’s email address and password. Tap Sign up if you wish to create a new Shopify account.
If you have multiple Shopify stores associated with the same email address, enter the domain ending in.myshopify.com followed by the login button.
If you have forgotten your Shopify account password, you can reset it by tapping login and then Forgot password?
Tap Log in.
Why is MyShopify So Popular?
There is a reason why Shopify is the market leader and a favorite among successful online merchants. It is intended to appeal to the masses.
In other words, Shopify is an excellent general-purpose e-commerce platform that is both visually appealing and robust. Frequently, I compare Shopify to Apple.
Here are MyShopify Main Advantages
Shopify Is User-Friendly — Shopify’s interface is so clear and simple to grasp that my mother could probably launch an online store with it: There is no need for coding experience!
Shopify Is Gorgeous – They provide a number of free, attractive themes
Shopify Manages All Technology — You should not worry about server outages or being hacked. Shopify handles everything, and you may sell an infinite number of products with limitless bandwidth.
Shopify Provides Excellent Support – They have an exceptional support team that is available 24/7. In addition, an army of third-party advisors is available to assist you in getting started.
Shopify’s app ecosystem is vast — If you’re seeking innovative features for your online store, there’s a good chance you’ll find a suitable app.
However, the aforementioned benefits come at a cost, and Shopify is not a one-size-fits-all solution. Depending on your precise requirements, Shopify may not be a good fit at all. Thankfully, there are numerous Shopify options that address these deficiencies.
45 Best MyShopify Alternatives in 2022
Shopify is among the most popular e-commerce platforms currently available. Nonetheless, it is not the only option. There are other e-commerce systems worthy of consideration if you’re searching for Shopify alternatives. We investigated platforms with comparable features and functionality, as well as distinguishing characteristics. You may prefer a platform with drag-and-drop functionality or without a monthly subscription charge.
Whatever features you prefer, these Shopify alternatives are user-friendly, inexpensive, and feature-rich.
WooCommerce
Wix
BigCommerce
Weebly
Magento
Sellfy
3DCart
Shift4Shop
Prestashop
BigCartel
Volusion
Volusion
OpenCart
PinnacleCart
Squarespace
Web.com
X-Cart
Simvoly
Square Online Store
Squareup
Big Cartel
Dukaan
oberlo.com
Shift4Shop
Easy Digital Downloads
Ecwid
Nexcess StoreBuilder
Prestashop
cjdropshipping.com
Ecwid
shipmonk.com
shineon.com
WixStores
Zyro
PinnacleCart
Adobe Commerce
MemberPress
Pixpa
CoreCommerce
displays2go.com
anytimemailbox.com
shop.app
printful.com
klaviyo.com
ikas
How to Know if MyShopify.com is Trustworthy?
Make your purchasing, access, and registration decisions based on the outcome of our verification. Here are some suggestions for better comprehending the data:
Always favor organizations that have been on the market for a longer period of time; it is normal for fake sites to have a brief existence.
Cloned sites: always ensure that the site is not attempting to imitate another, and see if the site logo matches the URL. Cloned sites utilize different domains, and our link verification minimizes your odds of falling victim to one by up to 99%. duplicate website fraud;
Paying close attention to the experiences of other consumers can assist you in identifying bogus websites. Always prefer well-respected websites.
Types of domains:.com.br and.com are the most common domain extensions in Brazil. Pay particular attention to domains lacking these suffixes. It is typical for malicious websites to employ extensions like.xyz,.ru,.cn, and others.
Is a Store Hosted on MyShopify.com a Scam?
All Shopify-hosted online stores will have a myshopify.com web address, but the majority, like Lena, will utilize a custom domain such as lenasflowers.com as the customer-facing web address and will hide the myshopify.com web address from potential consumers.
Therefore, it is quite unlikely that you have encountered the myshopify.com domain as a consumer. Several possibilities exist for why this may be the case:
A custom domain has not yet been registered by the online retailer.
The online vendor has a registered custom domain but has not properly configured their Shopify account to use it.
The online vendor considers that a bespoke domain does not cost- and effort-effective.
The myshopify.com store is fraudulent and not a reputable internet merchant.
As indicated by the list of potential causes, it is possible that the online merchant is new to Shopify and still in the process of configuring their account. This is not a fraud, but you should be aware that new sellers are likely inexperienced, may take some time to prepare and send your product, and may make mistakes during order processing (wrong items, address, etc).
Given how inexpensive it is to register a custom domain, an online vendor who does not intend to do so seems suspicious. Shopify does not undertake due diligence on online sellers utilizing their platform until they hit a specific threshold (usually $10,000 in monthly sales), therefore there are undoubtedly scammers on the myshopify.com network who may go unreported.
In conclusion, if you encounter an online store with the web address myshopify.com, the site owner is either relatively new or maybe a scammer. It is unlikely to be a real, established firm with a history of processing and distributing orders effectively.
MyShopify Position on the Sale of Personal Information
MyShopify does not feel that it violates the CCPA by selling consumer information. Shopify may share information with third service partners to perform its services. For instance, Shopify offers its services in part by storing data with cloud storage providers. These service providers are contractually committed to performing only the requested services and are prohibited from using or disclosing the information for their own reasons. Shopify does not think it sells personal information, thus you do not need to opt-out of the selling of your or your customers’ personal information.
Merchants and partners should assess whether they sell personally identifiable information and whether they need to provide an opt-out option.
How do Scam Shopify Stores Impact Businesses?
Fraudulent Shopify websites that use your branded content put your consumers, money, and reputation at risk. The imposter reduces traffic to your website by luring potential clients to theirs, hence decreasing revenue. Customers that spend money on the false Shopify store will not spend that money on your genuine brand and products.
Customers tricked by Shopify fraud receive low-quality, counterfeit goods, or occasionally nothing at all. In addition, their sensitive information, such as credit card numbers and addresses, has been shared with these fraudsters, who can continue to abuse it. It’s not surprising that these customers are furious after being cheated, and more often than not, this affects your brand more severely than it does the fraudster.
After being victimized by Shopify frauds imitating your brand, consumers frequently return to your actual business to vent. Some may not even realize they were duped by a fraudulent website, and they may report your actual store. This can result in a rise in consumer complaints and unfavorable reviews, which can harm your brand’s reputation and destroy the trust you’ve established with your loyal customers.
What to Do if You’ve Been Scammed on Shopify?
If you have purchased an item from a Shopify store and have not received it within the stated time limit, you should contact the store directly. Small businesses can take a while to make, package, and send an item, so unless you’ve observed additional red flags, give them the benefit of the doubt initially.
Report the fraudster to Shopify if you cannot reach the seller or if you contact the store only to discover that you ordered from an imposter. This additional step ensures that Shopify will examine the store and shut it down if fraudulent activity is discovered. This will prevent other others from falling for the same fraud.
Finally, contact your card issuer to request a chargeback. Generally, your card issuer will offer a refund promptly while it investigates the fraudulent merchant, so you won’t have to go after the fraudster yourself. PayPal also provides this service.
MyShopify Pros and Cons
Pros
Ease of Use
Shopify’s business strategy is subscription-based. This means that you only need to join up with Shopify, and their step-by-step wizard will assist you in establishing a store in no time. Additionally, you can purchase an existing store via the Shopify Exchange Marketplace.
Once configured, the interface is rather simple to use, and updates need minimal coding. Additionally, you have access to tens of thousands of Shopify applications to add any feature you choose to your site.
You Have Access to a Variety of Features
You can easily add products, manage your inventory, configure shipping, and generate discount codes using Shopify’s standard capabilities. When it comes to enhancing your store’s functionality, you can nearly always find what you’re searching for. Shopify store also offers more advanced services, such as wholesale and B2B connectivity, for customers with more specific needs.
It’s User-Friendly
Shopify is renowned for having a highly intuitive platform. The interface is intuitive, a factor that frequently determines the usefulness of an eCommerce company platform. This has generated a big number of success stories for the organization and established its reputation as a trustworthy entity. As stated previously, this makes it an excellent option for those who are new to online selling.
Customer Service
Shopify offers help around the clock, and its employees can be reached by phone from numerous regions. There is also a large knowledge base where you can get solutions to your questions.
Access to Many Payment Processors
Shopify permits the use of numerous payment processors, such as PayPal, Stripe, and Shopify Payments. This simplifies the payment process for your consumers.
The more straightforward the checkout procedure, the more sales you will enable. Access to a multitude of payment processors is one of the most essential Shopify features to remember.
Cons
Transaction Fees
Shopify Payments charges 2.9% plus 30 cents for each transaction (the rate goes down with upgraded plans). Using third-party gateways incurs a flat 2% fee on the basic plan, 1% on the Shopify plan, and 0.5% on the Advanced Shopify plan.
Shopify Payments is not available in all countries; therefore, if you opt for a third-party payment arrangement, you will suffer additional fees.
Limited Design Customization Options
Although Shopify offers a vast selection of themes, design customization options are limited. If you want to customize the look and feel of your store, you will need to employ a designer.
A poorly designed website may deter prospective clients from engaging with your business. In such a circumstance, they may browse the website of a competitor and never return. A badly designed Shopify website can potentially negatively impact your company’s search engine optimization. Therefore, you need to hire an SEO specialist to secure your success, even if it’s simply to assist you with your technical SEO and early content plan.
It Can Be Expensive
You must pay a monthly charge to use it, and you must also pay for any premium services you choose to access.
This should not be a problem if handled appropriately, as you may create more cash by purchasing additional features. Consider it an investment in the longevity of your online store.
Overly Reliant on Apps
Shopify has fewer built-in capabilities than other platforms, so you’ll need to utilize apps to enhance your store’s functionality.
No Email Hosting Access
Email hosting is not included in Shopify’s pricing levels. If you wish to create an email address for your store, you must find a different service provider. Even though the procedure is basic, you must include this expenditure in your overall budget. For instance, hosting an email account with @yourdomain using services such as Google’s email hosting will cost you approximately $10 per month.
MyShopify Reviews and Discounts
As there are numerous MyShopify-stores, it would be incorrect to presume that all online reviews pertain to the same MyShopify-store. This is certainly bad for the store owners who, for whatever reason, are utilizing a MyShopify domain instead of a proper one and now have to endure the fact that less trustworthy individuals are hurting the reputation of other MyShopify stores by their activities.
In addition, while there are several distinct MyShopify-stores, there is no discount code that would apply to all of them. Nonetheless, if you’ve landed upon this page because you’re seeking a discount for operating your own MyShopify store, this page is likely to be useful.
Frequently Asked Questions (FAQs) about MyShopify
Are there any free sites like MyShopify?
Wix is another eCommerce platform that provides a free alternative to Shopify. This plan provides you with free access to the drag-and-drop site editor, which you can use to build your online store. You can also choose from dozens of free themes, eliminating the necessity for coding.
Why Shopify is the best option?
Shopify gives you advanced capabilities via a plugin/application-style framework that allows you to download, install, and personalize the website. It offers inventory management, accounting, and business reporting in addition to capabilities for boosting sales and social media promotion.
What is the future for Shopify?
Shopify is a firm with significant growth prospects, but it also has questionable profitability and its shares are highly costly still. A decline in lending rates might be advantageous for SHOP, and the revival of Covid could be advantageous for e-commerce enterprises.
What eCommerce platform is better than Shopify?
BigCommerce. Founded in 2009, BigCommerce is a versatile, open SaaS eCommerce platform that enables businesses of all sizes to build and scale their online stores. BigCommerce is superior to Shopify if you want to build and scale your business. Shopify is ideal for getting started.
Is Shopify really worth it?
Regardless of the size of your business, Shopify should always be considered. Its scalability is one of the characteristics that contribute to its users’ confidence and reputation. With a staggering number of add-ons and integrated features, the eCommerce platform guarantees maximum satisfaction for even the largest of stores.
Is Shopify still the best?
Overall rating. Shopify is one of the best eCommerce systems available today, especially if you own a large enterprise. It is intended to assist anyone in constructing their own scalable online store with hundreds of built-in features and a multitude of apps.
Is Shopify better than WordPress?
When comparing these two solutions, Shopify is the superior choice for sales-driven firms seeking an intuitive, feature-rich, and somewhat automated e-commerce platform. WordPress requires somewhat more adjustment, but it is the clear winner in terms of versatility.
Is Shopify worth it for a small business?
Shopify is the greatest e-commerce platform for small enterprises, in our opinion. We chose Shopify over dozens of other e-commerce software options because it includes everything required to create, operate, and manage a successful e-commerce firm.
Is selling on Shopify profitable?
Are Shopify sales profitable? Short answer: yes. The epidemic has expedited the shift to e-commerce and created several chances for small and large internet businesses to earn money online.
Why Shopify is falling?
One of Shopify’s earliest investors, Vijay Viswanathan of Mawer Investment Management, left the company earlier this month due to the company’s inadequacies. According to Bloomberg, Viswanathan said he left the firm because it faced too much competition, but he added that Shopify was still well-run.
What is the biggest problem with Shopify?
How to add products to Shopify is one of the most problematic aspects of Shopify. Because the issue could originate from your product listings or other markets, it becomes difficult to determine exactly where it originated.
How expensive is Shopify?
Shopify Basic is $29 per month and 2.9% plus 30 cents per online transaction. The primary Shopify package is $79 per month plus 2.6% of each transaction plus 30 cents. Advanced Shopify is $299 per month plus 2.4% plus 30 cents per transaction.
Is Shopify a good place to sell?
Overall rating. Shopify is one of the best eCommerce systems available today, especially if you own a large enterprise. It is intended to assist anyone in constructing their own scalable online store with hundreds of built-in features and a multitude of apps.
How much does Shopify make per sale?
Shopify also takes 1.6% and 20p from each online sale. You are receiving a great deal for your money. This is for established companies who have achieved a certain level of eCommerce success and wish to expand.
Is Shopify good for beginners?
Is Shopify a Good Platform for Beginners in Ecommerce? Yes. Shopify is one of the most user-friendly eCommerce platforms for helping novices and small business owners create and manage their first online store.
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Every year, the world keeps track of who has gained how much wealth and keeps a close eye on the bank balances of the top CEOs (Chief Executive Officers). Aside from that, their inherent data, knowledge, and paycheques – are sources of inspiration for many.
These 2022 highestpaid CEOs apply their techniques to the top and work nearly 16 hours a day to achieve their objectives. According to Bloomberg, the following are the ten highest paid CEOs in 2022, as well as their salaries, compensation, and earnings.
If you’re looking for the highest paid CEO in the world in 2022, look no further. You have read this article if you are interested in Forbes, highest paid CEO 2022, and why Elon Musk is one of the top highest paid CEOs in the world.
For some time, the salaries of the world’s highest paid CEOs have been a source of contention, with arguments against the enormous sums of money these executives earn. Surely there must be some advantages to being a boss? I am confident that everyone agrees with me. The vast majority of these executives had to work their way up. However, facts and statistics show that hard work and determination do not guarantee a salary as high as that of these executives.
There are various media reports, such as Forbes and Bloomberg news. We’ve compiled a list of the world’s highest paid CEOs, along with their net worth. The table below shows the top eight highest paid CEOs, as well as where they work and how much they make.
Rank
Name
Company
Total Annual Compensation (2020)
1.
Elon Musk
Tesla (NASDAQ: TSLA)
$6.65 Billion
2.
Mike Pykosz
Oak Street Health (NYSE: OSH)
$568 Million
3.
Trevor Bezdek (co-CEO)
GoodRx Holdings (NASDAQ: GDRX)
$497 million
4.
Douglas Hirsch (co-CEO)
GoodRx Holdings (NASDAQ: GDRX)
$497 million
5.
Eric Wu
Opendoor Technologies (NASDAQ: OPEN)
$388 million
6.
Robert Antokol
Playtika
$281 Million
7.
Alex Karp
Palantir Technologies (NYSE:PLTR)
$369 million
8.
Geoffrey Price
Oak Street Health
$356.2 million
9.
Sundar Pichai
Alphabet and Google
$280.6 million
10.
David Zaslav
Discovery
$246 million
1. Elon Musk: $221.5 Billion
Photo: Collected
Elon Musk is the eccentric CEO of Tesla, an electric vehicle manufacturer. His compensation package for 2020 was worth more than $6.6 billion.
Despite not receiving a salary from Tesla, Musk has been the highest paid CEO in the United States for three years in a row. Instead, he receives stock options when the company reaches certain market capitalization and growth milestones. These options allow Musk to pay $70 per share for Tesla stock, which was trading at nearly $1,200 per share at the start of January 2022.
This performance-based arrangement has benefited Musk, who is estimated to be worth $260 billion.
2. Mike Pykosz: $568 Million
Pykosz is the CEO of Oak Street Health, which operates Medicare primary care clinics. Pykosz received stock and option awards from Oak Street Health in 2020 as part of his previous year’s compensation and the company’s conversion from a partnership to a C corp. This activity increased his overall pay for the year.
Stock and option awards were also significant, amounting to more than $500 million. Pykosz, on the other hand, earned an enviable salary of nearly $580,000, plus more than $390,000 in bonus pay.
3. Trevor Bezdek: $497 Million
Bezdek is the founder and CEO of GoodRx, a company that assists people in finding lower-cost prescription drugs. His co-CEO is the fourth-highest paid CEO on our list, earning only a few thousand dollars less in 2020 than Bezdek.
Bezdek’s salary and bonus pay in 2020 will be around $980,000. He also received nearly $500 million in stock awards.
4. Douglas Hirsch: $497 Million
Hirsch, the co-CEO of GoodRx, received the same salary, bonus, and stock awards as Bezdek in 2020. The minor difference in total compensation packages between the two CEOs is due to perks. Hirsch received less than $7,500 in perks, while Bezdek received approximately $9,500.
5. Eric Wu: $388 Million
Wu is the CEO of Opendoor Technologies, a real estate firm. Through its Opendoor app, the company, which will go public in December 2020, buys and sells homes. Wu’s pay increased 134,000% over the previous year as a result of the initial public offering (IPO).
As one might expect, the majority of Wu’s $388 million salaries was made up of stock awards. He did, however, earn $189,000 per year. That level of cash compensation, however, is modest in terms of CEO pay. Except for Musk, Wu’s salary is the lowest on our list at about $300,000.
6. Robert Antokol: $281 Million
Robert Antokol is the CEO and co-founder of Playtika, an Israeli digital entertainment firm specializing in the development and distribution of mobile casino games. Rentokil is one of the highest paid CEOs in the world. According to reports, he was compensated by the company for $372 million.
7. Alex Karp: $369 Million
Palantir Technologies, a data analysis software company, is led by Karp. Palantir and Opendoor both went public in 2020. Karp was given 141 million options that vest quarterly shortly before the company’s IPO.
As a result of that pre-IPO grant, Karp received more than $250 million in stock and option awards. He was also paid $1.1 million in salary plus $3.1 million in benefits.
8. Geoffrey Price: $356.2 Million
Geoffrey Price has been the CEO and a member of the board of directors of Oak Street Health since 2012. Prior to co-founding this company, he worked as a consultant and project leader for Boston Consulting Group from 2010 to 2012. (2012- 2013). He is an American citizen.
He earns more than $356.2 million per year at Oak Street Health. Price, 40, earned a Bachelor of Science in Engineering from the University of Illinois Urbana-Champaign and an MBA from Harvard Business School.
9. Sundar Pichai: $280.6 Million
Sundar Pichai earns $280.6 million per year as Alphabet and Google CEO. He joined the Board of Directors in July 2017 after being appointed in October 2015. Furthermore, in 2019, the CEO received a $240 million stock package that will vest in 2023. His ethnicity is Indian.
Sundar Pichai graduated from the Indian Institute of Technology with a bachelor’s degree in metallurgical engineering, a master’s degree in materials science and engineering from Stanford University, and an MBA from the University of Pennsylvania’s Wharton School. He began working for Google in 2004 as a material engineer, and his Google projects include Chrome, Gmail, Google Maps, and Android.
10. Tim Cook: $265 Million
Cook became Apple’s CEO after Steve Jobs died in 2011. He has appeared on lists of the highest paid CEOs for several years.
Cook’s total annual compensation is expected to be around $265 million in 2020. Most people would find Cook’s $3 million CEO salary appealing, but it pales in comparison to his $10.7 million bonus and $250 million in stock awards.
Above, we discussed and learned about the world’s top ten highest paid CEOs in 2022. Now we’ll tell you who is among the top 20 highest paid CEOs in the world. Are you curious about who the world’s next richest people (2022) will be? So stay tuned to learn more about successful people.
Who are on the List of the Top 20 Highest Paid CEOs 2022 in the World?
The vast majority of the world’s highest paid CEOs work for companies on the cutting edge of new technologies and inventions. Because several of these companies pioneered historical advancements, the best CEOs are naturally intelligent and academic giants.
Here are some interesting facts about the world’s top 20 highest paid CEOs:
11. David Zaslav: $246 Million
David Zaslav’s 2021 payment was increased to $246 million prior to the Warner Media merger this year (from $37.7 million in 2020 and $45.8 million in 2019). Discovery Inc. disclosed the CEO’s and other senior executives’ compensation in a regulatory filing. David has been Discovery’s CEO since January 2007.
He was born in New York and attended Boston University for law school. He briefly practiced law before joining NBC Universal for 20 years as president of Cable and Domestic Television.
12. Chad Richison: $220 Million
Richison is the CEO of Paycom, a provider of online payroll software. His reported salary of $220 million is impressive, but there is a catch. In 2020, Richison received an $829,000 CEO salary and bonus, as well as $736,000 in benefits. The remaining $218 million of his total compensation package, however, is comprised of restricted stock awards.
Richison will be able to purchase those shares only if Paycom meets certain aggressive share price targets. So, while Richison appears to be among the highest paid CEOs on paper, the majority of his 2020 reported compensation may not be received.
13. Amir Dan Rubin: $199.05 Million
His salary from 1Life Healthcare, Inc. is $199 Million (One Medical). He is 50 years old and a citizen of the United States. From January 2016 to August 2017, Amir Dan Rubin served as President and CEO of 1Life Healthcare, Inc. Rubin earned $199 million in total compensation as CEO of 1Life Healthcare Inc.
14. Satya Nadella: $49.8 Million
Satya Nadella is Microsoft’s executive chairman and CEO. He succeeded Steve Ballmer as CEO in 2014, and he will succeed John W. Thompson as Chairman in 2021. His annual salary is more than $49.8 million dollars. Satya was born in India, attended Hyderabad Public School in Begumpet, and earned a Bachelor’s degree in electrical engineering from Manipal Institute of Technology.
He moved to the United States to study computer science at the University of Wisconsin-Milwaukee and business administration at the University of Chicago Booth School of Business.
15. Shantanu Narayan: $45.9 Million
Shantanu has been the CEO of Adobe Inc. since December 2007 and has previously served as the company’s president and COO. He is paid a total of more than $45.9 million per year. The annual revenue of the company is approximately $11.2 billion. Narayen was born in Hyderabad, India, into a Telugu-speaking family. His mother was an English teacher, and his father was the owner of a plastics company. He was assigned to the Hyderabad Public School.
Shantanu graduated from Osmania University’s University College of Engineering in Hyderabad with a Bachelor’s degree in electronics and communications engineering. He then relocated to California to pursue an MBA at the University of California, Berkeley.
Apple was Narayen’s first significant job. He later worked as the director of Desktop and Collaboration Products for Silicon Graphics before joining Adobe in 1998 as Senior Vice-President of Worldwide Product Research.
16. Miguel Patricio: $43.2 Million
In addition, Miguel Patricio is expected to be one of the highest paid CEOs in 2022. He is the CEO of Kraft Heinz, and his total compensation exceeds $43.2 million. Patricio has been the company’s CEO since 2019 and a board member since 2021.
He was born in Portugal but moved to Brazil to study at the San Paulo Business School. Patricio has also worked for companies such as Philip Morris International, Coca-Cola, Johnson & Johnson, and Anheuser-Busch InBev.
17. Bill McDermott: $41.7 Million
Bill McDermott is the CEO of the software startup ServiceNow. His annual salary exceeds $41.7 million dollars. He previously served as CEO of SAP SE, a technology company. He purchased a Deli Gourmet in Long Island for around $7,000 when he was 16 years old and launched his first business. McDermott then attended Dowling College to study Business Management while continuing to run his business to help pay for his education.
18. Lachlan Murdoch: $27.7 Million
The CEO and executive chairman of Fox Corporation received a total annual salary of $27.7 million, down from $29.2 million in 2020. (2021). Lachlan is also the co-chairman of News Corporation, the executive chairman of Nova Entertainment, and the founder of the Australian investment firm Illyria Pty Ltd.
Lachlan received a Bachelor of Philosophy degree from Princeton University. He met his father and received training at the Daily Mirror in Australia. His father, Rupert Murdoch, was a wealthy man. Lachlan was named general manager of Queensland Newspapers at the age of 22, and publisher of Australia’s first national newspaper, The Australian, at the age of 23.
19. Bob Swan – $66.9 Million
Swan attended Corcoran High School before going on to earn a bachelor’s degree in business administration from the University of Buffalo School of Management and a master’s degree in business administration from Binghamton University.
As a CFO, he worked for eBay, Electronic Data Systems, and TRW Inc. The outstanding businessman moved from General Atlantic to Intel as CFO in October 2016, then as CEO from January 2019 to February 15, 2021.
Swan is no longer a CEO, but his legacy as the highest paid CEO in history will be remembered. In 2019, his total compensation at Intel was more than $66.9 million.
20. John C. Plant: $39.1 Million
Howmet Aerospace Inc’s chairman and CEO, John Plant, earns more than $39.1 million per year. He has extensive knowledge of the automobile industry. Among the companies where he has held executive positions are Lucas Variety PLC, Trw Inc, and Arconic Inc.
Why is Elon Musk top Highest Paid CEO in 2022?
Elon Musk’s name will not appear on any of the top-paid CEO lists in 2020. Nonetheless, Forbes ranks him as the highest paid CEO of all time.
According to Forbes, Musk received approximately $11 billion in 2020 compensation, all in Tesla TSLA -6.8 percent stock options granted to him as part of the audacious compensation plan he signed with the electric carmaker in 2018. This plan, which was initially valued at $2.3 billion, was to be implemented over a ten-year period. It did not, however, go into effect until 2020. Elon Musk is still the highest paid CEO in the world in 2022.
The options granted in the 2018 plan were conditional on Tesla meeting various market capitalization and revenue or Ebitda (earnings before interest, taxes, depreciation, and amortization) milestones. Overall, Musk’s compensation package includes options that allow him to purchase 101.2 million Tesla shares at a split-adjusted price of $70 per share. (Currently, Tesla stock is trading above $670 per share.) The compensation package is divided into 12 tranches, each of which can be unlocked only after Tesla meets certain milestones.
Musk’s options vested in four tranches in 2020, as Tesla achieved various market capitalization and operational milestones and its stock increased sevenfold, astronomically increasing Musk’s fortune. The CEO of Tesla is the world’s richest person. Elon Musk’s net worth as of May 5, 2021, was $165.7 billion, up from $24.6 billion in mid-March 2020. However, Elon Musk’s net worth reached $271.3 billion in 2022.
Each of the 12 option tranches vests based on rising market capitalization goals as well as operational milestones relating to annualized revenue or adjusted Ebitda growth. The market capitalization milestones are based on a trailing monthly average, with $100 billion as the starting point and $50 billion increments thereafter—but Tesla blew those out of the water, reaching a market capitalization of more than $650 billion by the end of 2020. Furthermore, a financial metric—either revenue or adjusted EBITDA growth—must be met each quarter. By the end of 2020, Tesla had met four of these objectives, including reaching $20 billion in annualized revenue and increasing adjusted Ebitda from less than $1.5 billion to $4.5 billion.
Each tranche of options entitles Musk to purchase 8.4 million Tesla shares. Last year, the Tesla CEO received a total option payout of $13.3 billion, according to Forbes. Forbes calculated the value of these various option awards based on the stock price of Tesla at the time each tranche of options was vested and was approved by the Tesla board. It will cost Musk approximately $2.36 billion to exercise the options; net of those costs, Forbes calculates that the options increased Musk’s fortune by $11 billion.
Here’s what the New York Times report found about the 10 highest paid CEOs in 2020:
Rank
Name of CEO
Company
Total
1.
Chad Richison
Paycom
$211.13 million
2.
Amir Dan Rubin
1Life Healthcare
$199.05 million
3.
John Legere
T-Mobile
$137.2 million
4.
Larry Culp
General Electric
$73.19 million
5.
Chris Nassetta
Hilton
$55.87 million
6.
Mike Sievert
T-Mobile
$54.91 million
7.
Greg Maffei
Liberty Media
$47.12 million
8.
Reed Hastings
Netflix
$43.23 million
9.
Ted Sarandos
Netflix
$39.32 million
10.
Robert Bakish
ViacomCBS
$38.97 million
1. Chad Richison: $211.13 Million (as of 2020)
According to Bloomberg, Chad Richison is one of the top highest paid CEOs in the world, which we discussed above. In 2019, Elon Musk was named the highest paid CEO in the technology industry until 2022.
Richison began his sales career with ADP, the largest and most well-known payroll processing company in the United States. Richison later relocated his family to Oklahoma and founded Paycom in 1998.
2. Amir Dan Rubin – $199.05 Million
Amir Dan Rubin was also mentioned earlier in this report. As a businessman, he is one of the world’s ten highest paid CEOs. From January 2016 to August 2017, Rubin was an Executive Vice President at UnitedHealth Group, a publicly traded healthcare company.
3. John Legere – $137.2 Million
John Legere is an American businessman who was born on June 4, 1958. He was the former CEO and President of T-Mobile United States. He previously worked for AT&T, Dell, and Global Crossing. John resigned as CEO in April 2020, following the approval of T-Mobile and Sprint’s merger.
4. Larry Culp – $73.19 Million
General Electric’s Chairman and Chief Executive Officer are Lawrence (Larry) Culp. Larry is the 12th CEO and 11th Chairman of GE. He has been a member of General Electric’s board of directors since April 2018, and he became CEO of the GE Company in October 2018.
Larry was president and CEO of Danaher Corporation for four years before joining General Electric. During his 2000-2014 term the company increased both its revenues and its market capitalization five-fold. In annual Institutional Investor surveys, investors and analysts consistently ranked him as one of the Top CEOs. Larry was also named one of the world’s top 50 CEOs by Harvard Business Review. As a result, he became the highest paid CEO.
5. Chris Nassetta – $55.87 Million
Hilton’s President and CEO are Christopher J. Nassetta. Prior to joining the company in 2007, Nassetta was President and CEO of Host Hotels & Resorts, Inc., a position he held since 2000. Nassetta co-founded Bailey Capital Corporation in 1991, before joining Host Hotels & Resorts, Inc.
Prior to establishing Bailey Capital Corporation, he worked for The Oliver Carr Company for seven years. He was in charge of all development and related activities for one of the mid-Atlantic region’s largest commercial real estate companies.
6. Mike Sievert – $54.91 Million
T-Mobile USA’s president and CEO are Mike Sievert. He also serves on the company’s board of directors. In April 2020, he will take over as CEO of T-Mobile. The same day T-Mobile shut its merger with Sprint.
7. Greg Maffei – $47.12 Million
Greg Maffei, an American businessman, is the president and highest paid CEO of Liberty Media. The company owns media and entertainment companies. Greg Maffei also serves as Chairman of Live Nation Entertainment, Sirius XM, and TripAdvisor. He is also the former chief financial officer of Oracle and Microsoft, as well as the chairman emeritus of Starz and Expedia.
8. Reed Hastings – $43.23 Million
Reed Hastings, an American businessman, is the co-founder, chairman, and CEO of Netflix. He also serves on several boards and non-profit organizations. Hastings was born in Massachusetts in October 1960 and served on the California State Board of Education. Hastings, who is six years old, is also an advocate for education reform through charter schools.
9. Ted Sarandos – $39.32 Million
Ted Sarandos, real name Theodore Anthony Sarandos Jr., is Netflix’s co-CEO and Chief Content Officer. Sarandos, who was born on July 30, 1964, attended Glendale Community College in Glendale, Arizona. Sarandos met Netflix CEO Reed Hastings in 1999 and joined the company in 2000. He has also been in charge of Netflix’s original programming and entertainment initiatives.
10. Robert Bakish – $38.97 Million
Robert Bakish, an American business executive, has been the President and highest paid CEO of ViacomCBS since December 4, 2019. Prior to the merger with CBS Corporation, he held the same position at Viacom. Bakish, 57, joined Viacom in 1997 as Vice President of Planning and Development. He joined Viacom’s MTV Networks as Executive Vice President of Planning and Business Development in October 1999.
We’ll draw your attention to the highest paid CEOs in the world in 2019. This report was based on the Bloomberg Pay Index report.
1. Elon Musk – $595.3 Million (as of 2019)
We discussed Elon Musk above in the report that he is the top among highest paid CEOs in the world, according to Bloomberg. Elon Musk was named the highest paid CEO in the technology industry in 2019.
Musk is Tesla’s CEO, and according to the company’s website, he oversees product design, engineering, and international manufacturing of Tesla’s electric vehicles, battery products, and photovoltaic power products. Notably, Elon Musk is also the CEO of Neuralink and previously co-founded and purchased PayPal.
2. Tim Cook – $133.7 Million
Tim Cook, like Elon Musk, has already been mentioned in the report as one of the top highest paid CEOs in the world in 2022.
He is Apple’s CEO and former Chief Operating Officer and was ranked second among the highest paid CEOs in the technology industry. According to Bloomberg, Cook has been in the tech industry for over a decade before joining Apple.
3. Thomas Rutledge – $116.9 Million
Tom Rutledge is the Chairman and CEO of Constitution Communications, a cable company. He began his career in 1977 at American TV and Communications (ATC), a forerunner of Time Warner Cable. Rutledge worked in a variety of capacities before becoming President of Time Warner Cable.
4. Joseph Ianniello – $116.6 Million
Joseph Ianniello is the former chairman and the highest paid CEO of the CBS Leisure Group for ViacomCBS. In 1997, he began his career at CBS as the Director of Monetary Planning. Also, according to Variety’s report, he took home $125.4 million in compensation and severance payments from ViacomCBS.
5. Sumit Singh – $108.2 Million
Sumit Singh is the CEO and Director of Chewy, Inc., an e-commerce company. Prior to joining Chewy, Sumit held senior leadership roles at Amazon and Dell. He obtained a master’s in Engineering from the University of Texas at Austin. He also held an MBA degree from the University of Chicago, Booth School of Business.
Chewy, under Sumit’s leadership, is positioned to become the most trusted and convenient destination for pet parents (and partners) (and partners). According to Chewy website, Chewy’s recent accolades include designation as a “Top 10 Employer Brand” in Boston in both 2019 and 2020, Newsweek’s recognition for “America’s Best Customer Service” for the past three consecutive years (2019-2021), Ad Age’s distinction as one of “America’s 20 Hottest Brands 2020,” and Comparably’s 2020 top rankings for Best Company Culture and Best Companies for Women.
For a long time, the salaries of the top highest paid CEOs 2022 in the world have been a source of contention, with arguments made against the large sums of money these big bosses receive. Isn’t it true that being a boss has its advantages? I’m sure everyone shares that viewpoint. Most of these executives had to work their way up. However, facts and statistics have shown that hard work and determination will not guarantee you such a large paycheck as these bosses.
As a result, today you have learned here about the top 20 highest paid CEOs in the world. Actually, these highest paid CEOs are on the list of highest paid CEOs 2022 in the United States, and richest CEOs 2022 in the world too. This list includes several well-known names from around the world, including Amazon CEO Jeff Bezos and Facebook CEO Mark Zuckerberg.
After all the time and effort you spent acquiring new customers for your eCommerce business, you want to shift your focus to keep them and take great care of them. How can you turn your current customers into customers who come back to your business time and time again?
Customer retention strategies give you and your customers opportunities to see even more value in your eCommerce business. Use these five tips to forge strong customer relationships and improve your customers’ experience with your business.
1. Optimize Your Digital Marketing Campaigns
Do you use different digital channels to promote your eCommerce business? You may have a few social media profiles for your company, or you could use pay-per-click ads. Either way, ensure you reach your desired target customer by making the most of those channels.
For instance, you can optimize your digital marketing campaigns so they’re mobile-friendly. An eCommerce SEO company can help you figure out which keywords your target audience uses, so you can include those words in your marketing content and try to rise higher in search engine results pages.
You may even want to localize your marketing campaigns to attract and retain customers in your area. For instance, if your eCommerce business is based in Colorado, a Denver SEO agency can give you deeper insights into which words and phrases your local target audience inputs in search engines the most when looking for products or services like yours.
2. Start an Email Campaign With Promotions and Discounts
Have you ever received a promotional offer you couldn’t refuse? Some deals are just too good to pass up, and saving money is reason enough to keep shopping with a specific company.
Use this to your advantage by sending current customers emails with special promotions and discounts. It’s best to only send offers to those who’ve opted to receive emails from you. This shows you listen to and respect your customers’ wishes, which gives them another reason to stick with your business for the long haul.
3. Create a Customer Onboarding Program
After someone makes an initial purchase from you, start building a relationship with a customer onboarding program. Customer actions to add to the program include:
Subscribing or signing up to receive promotional texts or emails, whichever the individual prefers
Creating a customer account on your site
Joining your store community
Downloading your app
Following you on social media
Contacting customer service with questions
You can automate the customer onboarding program, so you don’t have to reach out to customers individually.
4. Start a Customer Loyalty Program
Reward customers who support you and your business the most by starting a customer loyalty program. You can include rewards like discounts and cashback, and you can create tiers to encourage customers to enjoy bigger rewards by spending more at your eCommerce store.
While creating your customer loyalty program, keep a few essential things in mind. For one, make your program as easy to understand and use as possible. Also, provide customers a clear path and a simple explanation of how they earn higher rewards and reach higher reward tiers.
5. Practice Customer Service Best Practices
No matter what products or services you sell, it’s essential to provide a stellar customer service experience. When customers feel seen, heard, and cared for, they may prioritize supporting your business.
Examples of customer service best practices are meeting customers on their terms, implementing a help desk program, and offering support in real-time with live chat. Maintaining consistent customer service quality is another best practice. After all, when customers have a great first experience shopping at your eCommerce store, they expect that level of service every time they buy from you.
Customer retention tips keep customers happy, engaged, and coming back to do business with you. Use the above five tips to boost your eCommerce business’s reputation and revenue.
Before, basic computer skills and a phone were all small business owners needed to keep up with day-to-day business operations. As a modern entrepreneur, you must expand your knowledge of tech solutions to market and organize your business and communicate with customers effectively.
It’s easier than ever to learn how to use innovative hardware and software. Learning a few solutions makes you more self-reliant, opens new business opportunities, and helps you save time. Here are six tech solutions every small business owner should know.
1. Mobile Payment Processing
Modern customers have more payment options than ever before. Make it easy for them to pay by familiarizing yourself with mobile payment processing solutions like PayPal, Google Pay, and Venmo.
While learning the benefits and features of different payment solutions, check that you have the right hardware and software to make the most of mobile payments. For instance, you may need an LTE modem for quick, efficient payment processing. If so, trust your needs to modem providers, like Cradlepoint, who manufacture LTE solutions specifically for business owners.
2. Basic HTML Coding
While HTML coding may seem intimidating, you can feel like a coding pro after a few introductory lessons. Once you learn the basics of HTML coding, you have the power to change images, text, links, and almost everything else on your business site and blog.
Even though content management systems like WordPress have HTML editors, it’s great to know the fundamentals. That way, you can quickly change and fix your site without hiring someone.
3. Google Analytics
After spending time and money on search engine optimization, your business site, and its content, you likely want to know whether your investment’s paying off. One of the most popular and best analytics tools for small business owners is Google Analytics.
Analytics tools let you see how much time visitors spend on individual site pages, which social media platforms refer visitors to your site, and how many site visitors you get. With this information, you have a better understanding of what works well on your site and what to adjust on your site to increase traffic.
4. Project Management Software
Small business owners switch roles daily at the drop of a hat. Keep all your projects in order with project management software. These tools help you keep track of deadlines, review completed projects, and divide projects into separate tasks. If you collaborate with stakeholders, employees, or clients on projects, project management software is a must.
5. Social Media Communication
You may already use social media platforms like Facebook and Twitter to connect with your customers, but are you using those platforms effectively? Social media is great for promoting your services and products, but it’s also perfect for creating an online community with your target audience and customers.
Look for opportunities to have conversations on social media. For instance, you can engage followers with product and service infographics to help them understand special features. You can also use social media to let followers know when you publish new content, such as a new blog post.
6. SEO
More and more small business owners are learning how to harness the power of search engine optimization. By optimizing your site, you help it climb search engine rankings and make it easier for your target audience to find your product or service.
Start small with SEO by familiarizing yourself with basic concepts like meta tags, backlinks, and keyword density. You can take a quick SEO seminar designed specifically for small business owners for a deeper understanding of SEO. After a few crash courses and seminars, you may feel confident about optimizing your site yourself to enjoy greater success.
With a few tech skills in your toolbelt, you can grow your business in unimaginable ways. Use software and hardware to get ahead and stay ahead of the curve.
One thing is certain in this uncertain year: performance marketing is more important than ever.
As consumer tastes, tech, and marketing tactics all become more sophisticated, performance marketing is where your company can get a real-time ROI measurement.
While branding and design agency partners will always be important, the need for a specialized performance marketing agency will drive both short and long-term online growth for brands.
What Exactly is Performance Marketing?
Performance marketing refers to online marketing and advertising campaigns that are targeted at and motivated by a specific action. A CTA (Call To Action) can be triggered by a sale, a lead, a click, or anything in between.
While some performance marketing companies charge a commission or referral fee for each lead, others use the traditional ‘percentage of media spend’ model while still concentrating on the conversion goal.
What Makes Hiring a Performance Marketing Agency Important?
Analytics and attribution are important, no matter which industry or sector you belong to.
For this reason, having a goal-driven agency by your side is essential. It’s necessary because brand marketing managers can use analytics, attribution, and channels to report real-time results and claim credit for the traffic and sales they generate.
The identified channels also help convert sales or build a prospect list via an email marketing lead capture form.
What to Look for While Hiring a Performance Marketing Agency?
Here are a few things to look for when choosing a performance marketing agency to work with:
Expertise in Multiple Channels
Whether it’s affiliate marketing, search engine optimization, high conversion web design, paid marketing, or a combination of the above, businesses generally rely on agencies to deliver results in traffic, leads, and/or sales.
A holistic background in both marketing strategy and driving performance is an important consideration when choosing an agency.
It is important to note that while these channels are distinct, they do not function independently.
As a result, a dependable performance marketing agency with a track record of complete performance marketing management is required.
Protective of Your Brand
Getting quick results should never come at the expense of jeopardizing the brand’s image.
Check that your agency understands your brand and the target market.
Prada, for example, could significantly increase quantitative sales by lowering prices or offering generous affiliate commissions; however, the brand image it has built would suffer as a result.
Before you sign anything, make confident that your performance marketing agency fully understands your brand.
Strategic
Do you want to work with an agency that uses the same strategy for all of its accounts, or one that thinks beyond the Adwords interface to find strategic opportunities?
A good performance marketing agency will advise you to improve landing page conversions, dig deep into your analytics to uncover insights, and suggest new channels to supplement and grow your volume.
Bringing on a performance marketing agency with multi-channel marketing expertise as well as a holistic background in marketing strategy can significantly improve your marketing results while also saving time and money and, most importantly, providing a high return on investment.
AdLift is one of the most trusted online marketing agencies in India, devising measurable and effective end-to-end digital marketing strategies for some of the biggest brands in the country.
So, wait no more. If you’re looking for a performance marketing agency that can help your business gain awareness and leads, visit their website today!
Elon Musk is in a difficult moment of his own making. Since he began his aggressive push to buy Twitter for a $44 billion figure, which has been paused due to his “concerns” about the number of bots on the platform, his value has fallen considerably as stocks of Tesla are collapsing.
The problem with Musk
According to a Forbes report, Tesla shares fell to their lowest point in 11 months last week, and the main reason is that the company’s investors are not happy that Elon Musk is getting too distracted on Twitter, in addition to that lately he has made multiple messages on the platform that are far from being from a serious businessman.
The report notes that Tesla’s value has fallen to $650 billion after reaching a high point of $1.2 trillion. This means that since Musk started working on his Twitter deal, he has lost more than $575 billion, a considerably high figure that could put the company’s projects and ambitions at risk.
On the other hand, it is pointed out that this is due to the impact that Covid is having in Shanghai , where one of its “Gigafactories” operates, which will affect the company’s production. While 1.4 million cars were expected to be delivered, it is expected to be 1.2 million.
However, other experts, such as Wedbush’s Dan Ives, investors’ patience is wearing thin. The man said “This circus has been a big problem in Tesla stock and has been a black eye for Musk so far.”
But there may not be much to worry about. Despite the fact that Tesla’s stock value is not at its best, the company reported that it had the best quarter in its history, earning 3.3 billion dollars in sales.
Americans paid more for gasoline, food, and other necessities last month, amid an ongoing wave of record inflation exacerbated by Russia’s invasion of Ukraine, according to US government data released Tuesday.
The consumer price index (CPI) rose 8.5% in the year to March, the highest increase since December 1981 and a sign of the pressure President Joe Biden’s administration is under even as it seeks new ways to punish Moscow for the attack on its neighbor.
Since last year, the inflationary surge has dragged Biden’s approval rating down, and the president has tried to blame it on Russian President Vladimir Putin and the disruptions to global energy markets caused by the invasion.
“Putin’s price hike in gasoline accounted for 70% of the increase in prices in March,” Biden claimed during a speech in Iowa, though the Labor Department said it was closer to half.
Prices began to rise last year as the economy recovered from the Covid-19 pandemic, and while the most recent report showed costs reaching new highs for many items, it also contained indications that the spike may be leveling off.
Prices rose 1.2% in March, in line with analysts’ expectations, but “core” prices, which exclude volatile food and energy sectors, rose 0.3%, less than expected.
“The Russia-Ukraine war has added fuel to the blazing rate of inflation through higher energy, food, and commodity prices that are turbo charged by a worsening in supply chain problems,” Oxford Economics’ Kathy Bostjancic said.
The strength of the ongoing price increases has bolstered the case for the Federal Reserve to take aggressive action at its policy meeting next month, likely raising the key lending rate by half a percentage point rather than the quarter-point increase last month.
“With labor shortages pressuring firms to raise wages, we are in the midst of a wage-price inflation cycle that will necessitate extreme Fed action to rid the economy of the spreading inflation threat,” said economist Joel Naroff, reports AFP.
A confluence of factors has fueled the inflationary surge, including businesses’ struggles to find enough workers and supplies, the Fed’s low-interest-rate policies, and congressionally approved stimulus measures that increased demand among American consumers.
In response, the White House has scrambled to provide relief, including releasing strategic oil supplies to lower pump prices and lifting a prohibition on selling a lower-priced gasoline blend during the summer months, which Biden promoted during his visit to Iowa.
The Fed, on the other hand, is the most powerful anti-inflation actor in Washington. Despite the fact that rate hikes are expected to lower prices in the coming months, central bank Governor Lael Brainard stated on Tuesday that the fallout from the Ukraine conflict “probably skews risks to the upside in inflation.”
A new pandemic lockdown in China “has the potential to lengthen some of those constraints that we’ve seen in supply chains,” Brainard said in a discussion following the release of the data.
According to Labor Department data, Americans are experiencing real financial hardship when it comes to purchasing must-have items. Prices for shelter, which includes rent, increased by 0.5%, while food prices increased by 1% overall.
According to the data, grocery prices were up 1.5% month over month and 10% year over year, the largest such increase since March 1981.
However, used car prices, which were among the first to rise last year, fell 3.8% last month, pushing core CPI lower. After seeing monthly increases of more than 1% in the latter months of 2021, new car prices rose by only 0.2%.
Everyone is talking about cryptocurrency; indeed, it is becoming an essential part of our lives. If you look around, you will see various tips and tricks to earn cryptos or to make a profit out of the crypto market. But nobody will say where you can keep your cryptos. Well, you can’t just fold up a bitcoin and put it in your pocket or wallet.
Since it is a digital currency, it has no physical existence. Nonetheless, you can still hold the keys to your crypto by using a crypto wallet of your own. Yes, crypto-walled is legit, and you must know about it.
Nonetheless, if you don’t know how to choose a crypto wallet, then no need to worry; to help you, we have brought this blog post. Below we have discussed a few ways to find out the best crypto wallet for yourself. But before that, let us start by understanding the crypto wallet.
What is a crypto wallet?
A crypto wallet is basically a software application that has no physical form; it just exists in the digital realm. Since crypto wallets can’t be stored anywhere, you can keep your coins safely in them. And with the help of blockchain technology, your coins will be safe and secured.
The best part about a crypto wallet is, you will never lose this like your regular wallet. You can back the wallet, which can benefit you from any computer failures. If you are wondering why you need to have a crypto wallet? Well, it can be used to store your crypto coins before or during your buying and selling process. A Crypto wallet is essential for crypto traders.
Ways to find out the best crypto wallet for yourself
Currently, you will see numerous crypto wallets available over the internet, but which one will be best for you? Follow the strategies mentioned below to find out the best crypto wallet for you.
Look out for the security
Security plays the most prominent role while selecting the best crypto wallet. Since it involves money, you need to be very careful about the protection your chosen wallet is offering you. You can check its review to get some ideas. You must check if the wallet offers secure and robust logins. There are quite a few crypto wallets available that offer two factor authentication. You can check out Bitcoin Prime; they offer you the most secure crypto wallet.
Transparency
Transparency can help you to choose the right crypto wallet for yourself. You can check if the wallet code is open source and how the wallet provider operates it? Just for information, open-source code are being used to review and check for hacker attacks quickly. Transparency can secure your transactions. Therefore no hackers can get into your account.
Multiple account facility
You must lookout for a wallet that offers multiple account facilities. If your chosen wallet has multiple sign-in options, it is protected from cyber-attacks. Since it requires more than one key to access, the hackers cannot break through the system.
The bottom line
In conclusion, we would like to say, choosing the best crypto wallet is important while operating in the crypto market. If you follow the strategies we have discussed in our blog post, you will surely be able to choose the best crypto wallet for you.
