I sell tech accessories on Shopify, an e-commerce platform. So far we have over 10,000 subscribers, and we have generated revenue since we started. We have a decent amount of followers on social media, and I also started selling on Amazon and Facebook. Our margins have started to fall in the last three months and are now down by 7%. Any ideas on how to monetize and grab the attention back from our subscribers?
Try to segment your subscribers into different cohorts - for example, separate those who like expensive products and those who like cheap products (you can think about any other dimension - categories of products, age etc.). After you have them in different buckets - propose different products to each segment. If platform (Facebook, Twitter) can't support such segmentation - try to transfer them to the other (as an example, e-mail list).
Could it be that the fall is due to some form of sales fragmentation here (selling on Amazon & Facebook in addition to Shopify!)?
You could review the conversion rate of all 3 platforms, focus on one which is more profitable then drop the others.
To regain your subscribers attention you could look into product offers, online contests and marrying user-generated content with your marketing strategy.