The Ecommerce Influence Podcast: Advanced Acquisition and Retention Strategies for Fast-Growing Online Brands

Today, we’ve got an excellent interview with Wharton Professor and entrepreneur Peter Fader.

He's a two-time guest. We wanted to bring Peter back on the show because he’s an expert in customer lifetime value and customer centricity.

How do you predict lifetime value? What models should we use to predict lifetime value? This is what Peter spent his entire career focusing on.

In this episode, Peter is going to talk about the difference between contractual businesses and subscription businesses. He's going to talk about share some big name eCommerce businesses that on are track to go out of business because of their product-centric model.

It's a deep dive into customer centricity, lifetime value, and it's something I think you guys will enjoy.

Episode Highlights

  • 4:37  The work Peter Fader did with Zodiac that made Nike wanted to buy it.
  • 8:45 What is lifetime value and its importance to your business.
  • 9:54  Tips on making more money.
  • 10:27  What really sets Amazon aside that makes their number two better than other companies number one.
  • 14:06  What are lifetime value scores?
  • 15:49  What makes EA sports a good example of a customer-centric company.
  • 20:20 Answer to why big companies scale too quickly and fail when hitting a certain level?
  • 26:55 The concept of quality interaction over quantity interaction
  • 28:10 How responding to customers needs becomes an issue?
  • 29:50 Distinction between contractual versus non-contractual businesses
  • 33:44 Two metrics that non-contractual businesses should demand to see
  • 34:56 CRM: expectation versus reality

Links And Resource

Become a Member

If you liked this episode, you're going to love the Brand Growth Experts Membership.  It’s a community of top ecommerce business owners and marketers who I coach one-on-one to help scale up their businesses. Together we’ll create a plan that will help you scale up your business, and then I’ll help you execute it.

If you want to make sure you’re growing as quickly and sustainably as possible, click here to learn more. Hope to see you on the inside!

 

Direct download: EI_178_Peter_Fader_wPromo.mp3
Category:podcast -- posted at: 3:00am CST

If You’ve Been Listening To This Show For The Last Few Months, You’ve Heard Us Make Predictions About How To Approach Q4 Advertising.

Many of those predictions worked out well. Others, not as much. There were a TON of Facebook bugs this year that came out of nowhere and really fouled people up.

Now that we’re through the busiest part of the season, we’re bringing you an episode on BFCM advertising and what we learned.

Andrew brought in four top media buyers to give you a detailed Black Friday/Cyber Monday recap. You’ll learn how it went down, what they learned, so you can adjust and improve your strategies going into the new year.

Enjoy!

Episode Highlights

  • 5:13 How value optimization helped one client get a 7X ROAS during Black Friday.
  • 6:55 The amped-up offer and focused traffic-driving strategy that worked for Ryan Kovach.
  • 8:34 Bid caps: how are they working for low spends vs. high spends.
  • 10:06 What exactly is a bid cap?
  • 11:27 The importance of putting in the work before Black Friday/Cyber Monday that led to 5X ROAS.
  • 12:44 The benefit of building your warm audiences in advance.
  • 14:10 Campaign Budget Optimization and how it worked well for a number of different clients.
  • 16:03 Testing campaign budget optimization and minimum ad set budgets.
  • 17:48: Campaign budget optimization and interest targeting.
  • 18:46 Should you split your placements across Instagram and Instagram stories?
  • 20:53 Interests vs. lookalikes – which performed better?
  • 22:53 How to identify what interests you should be going after with your ads.
  • 23:59 Guests share their worst Facebook bug experiences.

Links And Resources

Become A Member

If you liked this episode, you’re going to love the Brand Growth Experts Membership.  It’s a community of top ecommerce business owners and marketers who I coach one-on-one to help scale up their businesses. Together we’ll create a plan that will help you scale up your business, and then I’ll help you execute it.

If you want to make sure you’re growing as quickly and sustainably as possible, click here to learn more. Hope to see you on the inside!

Sponsor: Hotjar

Today’s episode is brought to you by the always wonderful Hotjar. Hotjar is an incredible tool that allows you to see what’s happening on your site with potential customers with recorded sessions. You get to basically go back and look at what’s happening, what people are doing, where they’re dropping off, why they’re not adding something to cart on mobile, on a desktop, and you can actually understand that.

Hotjar allows you to get in-the-moment visual feedback, see how people are using your website, and uncover insights to make the right changes. Hotjar is absolutely one of my favorite tools out there and if you’ve not used it, we definitely recommend checking it out.

You can go to EcommerceInfluence.com/hotjar to learn a little bit more.

Direct download: EI_177_Flash_BFCM_Recap_YearEnd.mp3
Category:general -- posted at: 3:00am CST

For over 12 years, Jeana LeClerc has been operating two businesses.

She’s owned a local spa in Redding, CA and sold skin care products on ArtofSkinCare.com. Her business has grown and changed over the last decade, but her commitment to her customers has not.

In the last year and a half, her business has taken off. She has grown from a two-person team to an eight-person team and completely changed the way she operates. Jeana shut down her local spa and doubled down on her online store. After narrowing her focus her passion for the business has been completely reinvigorated.

I love a good founder story and today’s episode delivers. Jeana tells her story and shares a few of the learnings that have allowed her to get to the next level. I hope you enjoy!

Episode Highlights

  • 4:53 How Jeana went from being a stay-at-home mom to starting her own business.
  • 8:58 The most helpful thing Jeana learned at her first Intensive with Brand Growth Experts.
  • 10:20 How Google Adwords helped Jeana make a come back after leaving Amazon.
  • 12:14 Why Jeana’s motto is to “Really take care of her customers” and how a personalized customer experience helps her do it.
  • 14:39 How Jeana sets her business apart from other companies.
  • 16:16 How consultations help Jeana build personal relationships and keep customers coming back.
  • 21:02 The email strategies Jeana uses that have led to a 65% open rate and drive repeat purchases.
  • 24:00 How hiring the right people in the right roles helped take Jeana's business to the next level.
  • 28:16 The lessons Jeana learned and how her role has changed as she’s grown her team. 
  • 28:58 The importance of recognizing what you are (and are not) good at.
  • 32:42 Changes Jeana is making in 2019 to take her website to the next level and improve customer experience.

Links and Resources

Become a Member

If you liked this episode, you're going to love the Brand Growth Experts Membership.  It’s a community of top ecommerce business owners and marketers who I coach one-on-one to help scale up their businesses. Together we’ll create a plan that will help you scale up your business, and then I’ll help you execute it.

If you want to make sure you’re growing as quickly and sustainably as possible, click here to learn more. Hope to see you on the inside!

Sponsor

Today's episode is brought to you by the always wonderful Hotjar. Hotjar is an incredible tool that allows you to see what's happening on your site with potential customers with recorded sessions. You get to basically go back and look at what's happening, what people are doing, where they're dropping off, why they're not adding something to cart on mobile, on desktop, and you can actually understand that.

Hotjar allows you to get in-the-moment visual feedback, see how people are using your website, and uncover insights to make the right changes. Hotjar is absolutely one of my favorite tools out there and if you've not used it, we definitely recommend checking it out.

You can go to EcommerceInfluence.com/hotjar to learn a little bit more.

Direct download: EI_176_JeanLeClerc.mp3
Category:general -- posted at: 3:00am CST

Today’s episode is a little bit different, in a good way. We've had some great questions recently in the Brand Growth Experts Membership.

They were so good we decided to answer some of them for you guys who are the listeners.

We answer questions including how to attribute Amazon sales, how to weed out inactive email subscribers, what type of an ROI you should expect on your Facebook Ads, and Andrew explains the best way to set up a budget and test Facebook ads. This is a meaty episode. Enjoy!

Episode Highlights

Links and Resources

Become a Member

If you liked this episode, you're going to love the Brand Growth Experts Membership.  It’s a community of top ecommerce business owners and marketers who I coach one-on-one to help scale up their businesses. Together we’ll create a plan that will help you scale up your business, and then I’ll help you execute it.

If you want to make sure you’re growing as quickly and sustainably as possible, click here to learn more. Hope to see you on the inside!

Sponsor: Hotjar

Today's episode is brought to you by the always wonderful Hotjar. Hotjar is an incredible tool that allows you to see what's happening on your site with potential customers with recorded sessions. You get to basically go back and look at what's happening, what people are doing, where they're dropping off, why they're not adding something to cart on mobile, on desktop, and you can actually understand that.

Hotjar allows you to get in-the-moment visual feedback, see how people are using your website, and uncover insights to make the right changes. Hotjar is absolutely one of my favorite tools out there and if you've not used it, we definitely recommend checking it out.

You can go to EcommerceInfluence.com/hotjar to learn a little bit more.

Sponsor: Klaviyo

This episode is also brought to you by Klaviyo. If you’re running an ecommerce business and sending emails to your customers, you should be using Klaviyo. It will help you find out who your best customers are and target them one-to-one to make more money.

I’ve been using Klaviyo since they were just two employees. Now they have a team of 150 and are rolling out new features almost weekly. If you aren’t already a customer, head over to www.ecommerceinfluence.com/klaviyo and you’ll get a free trial + priority on-boarding.

Direct download: EI_175_Top_Questions.mp3
Category:general -- posted at: 3:00am CST

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