The Ecommerce Influence Podcast: Advanced Acquisition and Retention Strategies for Fast-Growing Online Brands
144: 3 Simple Levers You Can Use to Grow your Ecommerce Business
Manage episode 206621981 series 74225
Do you sometimes feel overwhelmed with all the information out there about how to grow your business? I know I do, it’s a freaking jungle out there.
There is so much noise out there telling you to build this, optimize that, or to invest in some new shiny marketing channel it’s difficult to choose where to direct your attention..
It’s easy to get distracted from the simple fundamentals of how to grow your business. If you’re feeling stuck and are looking for inspiration on how to jumpstart growth, this episode is for you.
This week we share the three levers you should focus on in order to grow your business, the simplest and least expensive way. These include: number of customers, average order value and frequency. We talk about how to calculate each of these, and how, as well as how much, you need to increase them by to double your business over the next year.Episode Highlights:
- 4:42 Lever #1: Reviewing your product pages to identify opportunities for increasing the number of customers.
- 6:05 How the creation of a “best-sellers” page can ensure you are not leaving money on the table.
- 7:28 Lever # 2: Increasing your Average Order Value.
- 10:28 The data is in and this is the minimum AOV you should be targeting for to see success with Facebook and Instagram advertising.
- 13:37 Lever #3: Increasing your purchase frequency.
- 17:20 Here is Austin’s formula for figuring out purchase frequency and how to scale it up over the next year.
177 episodes available. A new episode about every 8 days averaging 33 mins duration .