Ecommerce Masters Guide: 5 Drivers of Exponential Growth
This old saying “What got you here, won’t get you there” can be a valuable piece of business advice. It is even more important when you are dealing with ecommerce.
You may be there. It’s possible.
Are you ready for something more?
If you are looking to take your company to the next level, you will need a whole new arsenal. We’re talking seven or eight-figure sales each year.
Start & Scale has been one of the most popular classes we offer. Our students are eager to expand their businesses exponentially.
We developed this course because the skills that you learned to launch your business, scale it up, and expand the product line in the early stages would not help you to generate millions in annual sales, enter foreign markets, or even increase your range of products.
You want to know new strategies for marketing, manufacturing, operations, etc. Five leading online experts were asked to focus each on an aspect of advanced commerce they have personally mastered.
The new Ecommerce Masters Course is based upon the “5 core driver method”, or what we refer to as a means to scale up existing stores to seven figures.
Collectively, the five entrepreneurs have been held responsible for:
- Facebook Ads Spending $85 Million
- Influencers can generate $1,000,000 in sales within a day
- Email marketing generates $20 million in revenue
- 3 Million units shipped to more than 100 countries
- Shopify Build A Business Awards: Two Winners
- Launch a 60 Million Dollar Luggage Startup
Imagine this as a road map for exponential growth.
Nick Shackelford Structured social
Facebook advertising is one of the best channels to market e-commerce. It is possible to reach all the 2.5 billion Facebook users for low costs, but it must be done properly.
Facebook advertising is a great way to reach out to your audience. Soon, you will be wondering what means.
- Can I combine campaigns to promote multiple products?
- Should I use a manual or automatic bidder?
- Should we focus more on conversions or visits to the website?
Facebook marketing strategies vary from entrepreneur to entrepreneur. Facebook’s algorithm changes frequently, so success is a constantly moving target. How should an ecommerce marketer act? The right person to contact.
Nick Shackelford is a Facebook marketing expert who has founded multiple e-commerce stores. He built his entire career by scaling Facebook ads and taking online shops to six, seven, and eight-figure ranges.
Nick was also involved in creating over 150 direct-to-consumer brands.
Nick’s Advice
To get the most return on investment, you should test out new creatives and ad formats.
Every time you start a Facebook Ad Campaign, ask yourself: “What is the most effective way to achieve the best results with the least amount of effort?” “
What can you do to improve performance and lower costs?
Nick recommends three tests depending on your budget and the time of year. The tests will help you to identify where you aren’t performing well and make changes immediately.
- Test out different creative options. You can test new creatives, including angles, videos, images, or copy.
- Improve your website’s load time, checkout system, or copy to improve its performance. Make improvements and see what happens.
- Bundling and adding free products or positioning your product differently can be a great way to attract more customers. When your product initially does not appeal to the public, you can change your positioning or offer.
Test these areas constantly to see if they can be improved. If one test does not work, then try another.
Gretta Van Riel, Dropbottle
In the past few years, influencer marketing has become one of online marketers’ most powerful tools. This is the best way to acquire customers for all types of ecommerce companies.
Mediakix’s 2018 Influencer Survey confirms it. Mediakix’s 2018 Influencer Marketing Survey confirms this.
What are the benefits of using influencer marketing for your business growth?
Gretta Van Riel is our in-house expert and was able to answer the question.
Gretta started her business SkinnyMe Tea at the age of 22 with only $24 in her account.
Gretta co-created 5th Watches, which sold one million dollars in a single day. Dropbottle and Skintox Co. She created an influencer tool, Hello Influencers, which connected over 8,000 social media influencers to brands.
Gretta’s Advice
Gretta suggests the “blank accounts” technique if you’re looking to scale up your influencer outreach. This method involves working only with nano- and micro-influencers–those who have fewer than 50,000 followers.
Working with influencers on a large scale has two benefits:
- It costs less.
- This will increase the likelihood that they’ll follow your brand and visit your store. It will make it more likely that people will visit and follow your store.
To make your brand appear in all places, you need to target influencers who have audiences that overlap.
To begin, create a blank Instagram profile. The look of your account is not important since it will only be used to contact influencers.
Gretta recommends focusing your attention on influencers with less than 50,000 followers.
If you do not see any influencers in your niche, use the “Suggested bar”.
You can hire a virtual assistant via Upwork, or. This VA helps you reach out to the influential people on your list.
Send direct messages to the account you are following first.
After they have liked the last three posts of each influencer, you can ask them to comment on their blog with
Your feed is awesome! A message has just been sent to you regarding your joining our team.
If they do not reply, follow up with them.
Your monthly output is limited to 100 micro-influencers.
Richard Li Brosa Juli
The most difficult topic of the five.
Amazon and Target are two of the largest e-commerce retailers. They hire specialists to oversee their operations and manufacturing. Are you as worried about your business?
Absolutely! These are your largest drains on profits, and they’re the only thing that will contribute to your long-term success.
Although this topic seems daunting, it can be managed. Richard Li will help.
Rich, the founder of BROSA & July
Rich gained his experience as Groupon Group’s world-leading seller before joining BROSA. He is a specialist in brand and ecommerce development.
Richard’s Advice
A contribution margin is an important concept to understand when you want to increase your production. Net profit is what you earn before paying your fixed expenses like rent or utilities.
Why does this measure matter?
You can use the contribution margin to calculate your ideal price for manufacturers.
Here is the formula for calculating this metric.
Contribution Margin = Gross margin – Variable Costs
Gross margin is the difference between net sales and the cost of your product sold.
To calculate variable costs, add up the total of all expenses incurred when you make a sale.
- How to reduce your warehouse expenses
- How to reduce credit card charges
- Delivery costs
- Marketing costs
- Raw material costs
The margins of contribution will assist you in making a decision.
- How much should I spend on marketing?
- Is it worth increasing the price?
- Is it possible to reduce your manufacturing costs?
Use a spreadsheet to track your expenses.
Enter all your financial information (average order values and variable costs) Then you will be able to find your contribution margin
Rob Ward Annex Products
To grow your business, you must learn the science and art of making products customers will love.
Rob Ward, co-founder and CEO of a href=”https://www.annexproducts.com/”>Annex Products/a> is regarded as one of the leading experts in his field. Rob Ward is the CEO and co-founder of Annex Products. The company also makes Quad Lock and the Opena Case.
Rob bootstrapped Quadlock to $9,000,000 in four years. Rob has now sold more than 3 million Quadlocks in over 100 countries.
Rob’s Advice
It is important to continue creating products after you have found a successful product that customers like.
What is the best way to discover your next product?
Don’t be afraid to experiment with new ideas. Use the Second Album Framework to guide you.
Answer these four questions.
- Do you have confidence in your product? Can you market your product in other markets or change it to increase sales?
- Is this a new product that will be introduced to complement your current product?
- Have you validated your product or market?
- Do you know the costs involved in producing and marketing your products?
These four questions can help you understand your new product, its impact on your business, and your plans for marketing it.
Chase Dimond, Boundless Labs
Email marketing has been proven to be effective.
As your business grows, so will the complexity of your email campaigns. Start with automated campaigns. But these campaigns won’t be sufficient if you want to achieve six- or seven-figure sales.
Chase Dimond has the solution.
Chase is the Partner of Boundless Laboratories. The Chive is one of the clients served by this ecommerce company. IBEX. Original Grain TUSHY. Vinyl Me Please and Vinyl Please.
Chase’s Advice
Welcome series email campaign is the best way to increase interest and sales in an online business.
This campaign has a conversion rate of an average of 3 percent. Its main goal is to inform and nurture the subscribers. These campaigns help build your brand and increase sales.
Beardbrand has an excellent welcome series.
The email introduces new subscribers to the brand and sets expectations about what they can expect.
A campaign should last 10 days. Let the recipients know there are only a limited number of emails to be sent. You can send between 3 and 5 emails over one week.
Your brand voice should be reflected throughout your email campaigns so your recipients become familiar with it. You will stand out and connect better with your customers.
Beardbrand has done an amazing job with this.
Sharing press articles, awards, testimonials, and influential partnerships is another great way to increase your welcome series.
A welcome sequence’s purpose is to establish trust, not sell. You can use them to get your subscribers engaged so they will be ready to buy from you by the time the series ends.
Become a successful Ecommerce Entrepreneur
This first insight will hopefully help you understand the next step in ecommerce.
This course is an excellent resource for those who want to advance their online business. We are happy to welcome all five of these rising stars to our team.
Ecommerce Masters can be a valuable resource to anyone looking to take their business to the next step.
