There Are 2 Directions Your Ecomm Brand Can Go – You Can Scale Up, Or You Can Flop. In This Greatest Hits Episode We Share the Secrets Behind The Brands That Make it Big.
Some eCommerce brands make it big while others stall out, it’s a fact. But there’s really no big mystery behind why this happens.
Today we’re revisiting an interview I gave on the Ecommerce Evolution Podcast by my good friend Brett Curry. We break down what separates eCommerce brands that scale up versus those that plateau.
Brett and I talk about a variety of things, including average order value and lifetime value, and how that directly impacts your ability to scale up. We talk about demand generation versus demand capture: which is “better” and which lends itself to being able to scale. We talk about the roadmap to building a team and scaling up your business, how your role as a CEO changes as you grow, and much, much more.
This is a great conversation with a lot of tips from Brett and me. I hope you enjoy!
Episode Highlights
- 5:54 Why I’m so passionate about dissecting why some brands scale and others don’t.
- 7:25 The KPIs that separate the businesses that can scale from those that can’t.
- 8:47 Demand capture vs. demand generation and which one will allow you to scale.
- 12:20 Factors I look for when evaluating a product’s potential for growth.
- 14:22 How a passionate market can contribute to success.
- 18:32 Why having competitors in your market is a good thing.
- 19:13 Average order value and lifetime value: why they’re important and what to look for if you want to scale.
- 22:17 How to evaluate CPA across different channels and the other metric I recommend examining.
- 24:59 It’s OK if your business doesn’t scale — and this is why.
- 27:57 Growing your business by expanding your product line.
- 31:49 A true entrepreneur falls in love with their customers, not their product.
- 33:16 Great founders know when to ask for help.
- 34:46 Why business founders need to become experts at their marketing channels before handing over the reins.
- 38:52 How a CEO’s role shifts as the company grows.
Links And Resources
- ECommerce Evolution Podcast
- Business Lunch Podcast
- 2PM
- Episode 189: What’s Actually Working In SEM And On YouTube In 2019 (with Brett Curry)
- Profit Summit Intensive Workshop
- The Ecommerce Coalition
- Training: What’s Working With Google Ads Right Now
- The Coalition
- @a_brawn on Twitter
- Review or subscribe on iTunes
Are you ready to hit 7-figures and unlock massive profit in your eComm business in the next 12 months?
If you want to scale up fast, while remaining profitable, we can help. We’ve worked with hundreds of early-stage eComm owners to pour the fuel on their businesses and level up from 6-figures to unstoppable 7-figure success.
This isn’t just getting you set up with the latest FB ads strategy or email marketing. We’ll help you see the big picture on how you can build and scale a profitable company with the right systems in place.
Are you ready to make your first million? Click here and LET’S GO!
Sponsor: Klaviyo
Are you working around the clock to build the business you always imagined? Do you want to communicate with your fast growing list of customers in a personalized way, but also get time back to work on the rest of your business?
Do you ever wonder how the companies you admire, the ones that redefine their categories, like Living Proof and Chubbies, do it?
They do it by building relationships with their customers from the very beginning, while also evolving in real time as their customer’s needs change
These companies connect quickly with their customers, collect their information and start creating personalized experiences and offers that inspire rapid purchase…often within minutes of uploading their customer data
Klaviyo empowers you to own the most important thing to any business…the relationship between you and your customers, and the experiences you deliver from the first email to the last promotion.
To learn more about how Klaviyo helps you own your growth, visit www.klaviyo.com/influence.
Sponsor: Optimonk
At Ecommerce Influence, we struggled to answer the same question as most of our listeners: how do we best monetize our hard-earned website traffic? We wanted to improve conversions, personalize experiences for our site visitors, and create popups that people actually love.
Lucky for us, we found a solution — OptiMonk. Companies like BlendJet, Avon, and The Body Shop use OptiMonk, because their solutions can boost an online store’s revenue by 20%.
OptiMonk can help you increase average order value, decrease cart abandonment, and collect valuable customer feedback. We worked with Optimonk to create a collection of high-converting popup templates exclusively for our listeners.
Visit optimonk.com/influence to check them out, AND get a 50% discount off your first 3 months.
Ecommerce Founder's Growth Pack
Enter your email to get our proven resources that will help you achieve massive growth without the burnout.
Featured Posts
