Focus on Shopify and Payment Features & Journey
As part of my submission for Highlevel's processes, I have documented this detailed teardown for Shopify.
Shopify is an ecommerce platform that allows companies, big or small, to sell their products online and make ecommerce available to everyone. Their offering includes all digital touchpoints that a company would need to start and sustain their business including building a website to manage inventory, collecting payments and managing sales reports.
Shopify allows non tech driven businesses or owners in reducing their time to market with no requirement of understanding their needs, pain points by themselves. Customizations within the platform allow for a personalised differentiated experience that companies can provide to their customers while still using the same backbone of services.
Strengths:
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Core Value Proposition:
To make ecommerce available for every business who wants to sell their products online. This means that anything that is needed to build and keep a business alive who is selling products online would be catered to by Shopify, at some point in time.
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Challenges Shopify is facing today:
Shopify started as a market disruptor and has added a lot of stability and trust on their product, today it lacks in certain areas where new players are emerging with better models and distinguished offerings. Some challenges that Spotify faces that leads to churn:
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Products and Pricing:
Shopify has direct pricing and features list provided in detail that creates transparency and helps the user in choosing the right plan for them. And while this plan initially looks good and competitive to the market, the user would soon realise that the platform has limited basic features and for any sort of add-ons or customization they need to use apps from the Shopify App Store where many apps are paid or pay per use. This adds a tremendous load on the total budget that a company may keep aside for Shopify. It's good for users who are aware of this before buying and have consciously decided to either not use the paid options or pay for the add-ons.
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ICP Name | ICP 1 - Runs a small scale company as an entrepreneur holding all posts alone | ICP 2 - Runs a mid sized D2C company with dedicated teams | ICP 3 - Runs a large enterprise selling products across geographies |
Age | 18 - 45 years | 22 - 45 years | 25 - 50 years |
Gender | Female | Male | Female |
Location | Tier 1, 2, 3 cities | Tier 1, 2, 3 cities | Tier 1, 2 cities |
Designation | Owner | CEO | Technical / Marketing Head |
​Frequency of platform use (Shopify) | Daily | Daily | Daily |
Willingness to pay​ | Medium | Medium | High |
Time Vs Money | Money | Money | Time |
Company Size | 1 - 10 employees | 10 - 50 employees | 50 - 300 employees |
Company Stage | PMF stage | Early Scaling Stage | Mature Scaling Stage |
Needs | Need one platform that is not costly to run the entire business operations along with building the website | Needs a platform that is comprehensive and can be used by the entire team to run their respective tasks | Needs a platform that can concurrently work with and support existing business sales, payments and operations |
Pain Points | Want to sell digitally without investing in tech | Want to have digital sales as a medium with minimum tech capability | Want to have digital sales using a platform (provides base) that can be worked upon by tech to personalize to the company needs |
Alternative Solutions | Outsource website management while giving requirements on needs to this person | Outsource some part of the development and built additional digital features outside the company | Build all features incrementally from scratch with inhouse IT team |
Adoption | High​ | Medium​ | Medium |
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Goal Priority | Tags | ICP 1 | ICP 2 | ICP 3 |
Primary | Functional | Sell my products online quickly with low set up time | Sell my product online while keeping my entire team aligned on their tasks using one platform | Sell my product online using supporting tools that can help increase efficiency or manage one part of the sales journey |
Secondary​ | Financial | Sell my products online at relatively low cost | Sell my products online at market competitive prices | Sell my products online using features that would require higher cost (more time) to build in house |
Secondary | Social | - | - | - |
Secondary | Personal | - | - | - |
While Shopify website is viewed from both desktop and mobile web platforms, 70% of the traffic comes through desktop and hence we have used this platform for our teardown.
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As part of this teardown, we would look at the following journeys:
Detailed Teardown of the journeys:
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Key Highlights and Insights:
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What could be primarily done differently to get better results?
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