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10 Biggest Mistakes In eCommerce | Blues Brothers Ep #1
Manage episode 418196897 series 3574119
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Summary
In this episode, Sebastian and Nathan discuss the 10 biggest mistakes e-commerce brands make. They cover topics such as shiny object syndrome, poor negotiations with suppliers, neglecting average order value, neglecting retention, lacking a blue ocean selling proposition, joining agencies too quickly, churning agencies, and taking on too many agencies. In this conversation, Nathan and Sebastian discuss common mistakes made by e-commerce brands. They cover topics such as misleading ROAS projections, agency costs, choosing the right agency, choosing the right ad platforms, and neglecting conversion rate optimization.
Takeaways
- Focus on one key area and do it well before expanding to other channels or strategies.
- Negotiate with suppliers to improve unit economics and ensure profitability.
- Increase average order value through upsells, cross-sells, and bundling.
- Implement a strong retention strategy to increase customer lifetime value.
- Differentiate your brand with a unique selling proposition that sets you apart from competitors.
- Be cautious when partnering with agencies and ensure expectations and commercials align.
- Avoid constantly changing agencies and focus on building long-term partnerships.
- Carefully consider the number of agencies you work with to avoid over-investing and losing focus. Be cautious of agencies that make unrealistic ROAS projections.
- Consider the relationship between agency costs and net profit.
- Choose the right agency based on their expertise and the services they offer.
- Carefully select the ad platforms that align with your product and target audience.
- Don't neglect conversion rate optimization, especially for mobile and checkout processes.
Chapters
00:00 Introduction
00:53 Mistake #1: Shiny Object Syndrome
05:03 Mistake #2: Poor Negotiations with Suppliers
10:04 Mistake #3: Neglecting Average Order Value
19:14 Mistake #4: Neglecting Retention
21:14 Mistake #5: Lacking a Blue Ocean Selling Proposition
38:26 Mistake #6: Joining Agencies Too Quickly
42:24 Mistake #7: Churning Agencies
43:56 Mistake #8: Taking on Too Many Agencies
48:37 Misleading ROAS Projections
49:32 Agency Costs and Net Profit
51:44 Choosing the Right Agency
56:29 Choosing the Right Ad Platforms
58:04 Neglecting Conversion Rate Optimization
22 episodes
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