The Ecommerce Influence Podcast

June 2021
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Tue, 29 June 2021

310: GREATEST HITS: A Behind-The-Scenes Look At Pura Vida’s Exit For 9 Figures

What Would Pura Vida Do? From Start-Up to Multi-Million Exit We Talk Strategy With One of The Top Ecommerce Brands Today.

When someone asks about eCommerce best practices, we always hear, “well, what’s Pura Vida doing?” and in this episode we’re talking with Pura Vida CEO, Griffin Thall, to get an inside look at their strategies, how the company’s grown over the last several years, the way his role has evolved, and what it’s actually like to prepare your company for a multi-million dollar sale. Get a behind-the-scenes look at Pura Vida's exit strategy.

Interested in the Coalition training with Griffin? You can join the Coalition membership here for access to this and many other great trainings and resources.

Episode Highlights:

7:00 What got Griffin and Pura Vida to where they are today.
8:03 How Griffin’s role has changed as the company’s grown.
9:33 Pura Vida’s unique influencer strategy and how it started.
13:23 Relentless innovation and how Pura Vida continues to increase customer lifetime value.
15:53 The moment Griffin realized the brand was going to be a success.
17:09 How Pura Vida’s growth strategy has changed over time.
18:32 The challenges Griffin’s faced over the years as CEO.
20:47 Where Griffin’s seen the most success in hiring.
22:47 How Pura Vida’s ambassador program started, and where it’s at today.
22:56 A day in the life of the Pura Vida CEO, and the value of growing a team.
25:00 Why you’ve got to stop wearing all the hats in your business if you want it to scale up.
28:49 What you should be focusing on as a founder, instead of getting enticed by the newest Shopify app.
30:03 A key approach for brands launching today vs 6 years ago.
32:28 Lessons learned about managing cash while scaling up.
34:22 Pura Vida’s exit - how they ended up making a deal with Vera Bradley, and the process of finding and securing that kind of partnership.
38:42 Griffin’s biggest takeaway from meeting with investors.
40:15 The expansive value Pura Vida’s gained from their partnership with Vera Bradley.
42:14 What Griffin’s excited about right now and some things in store for Pura Vida in 2020.

Links and Resources:

Direct download: EI_310_GriffinThall_Replay.mp3
Category:general -- posted at: 3:00am CDT

Tue, 22 June 2021

309: You Could Be Smarter: Collecting And Using Data To Make Better Business Decisions.

In a world full of varying attribution models, collecting and using data is critical to understanding your customers and running a successful business.

Kevin Hillstrom is President of MineThatData, a consultancy that uses data to help executives better understand the relationship between their customers, advertising, products, brands, and channels. Kevin supports a diverse set of clients, from internet startups, to billion dollar multichannel retailers and previously held various roles at major retailers like Nordstrom, Eddie Bauer, and Lands' End.

In this episode, we talk about the myths of eCommerce, how using data can help boost repeat purchase rate, when and where to discount and how to deal with the attribution problem of running multi-channel marketing. Kevin’s been the influence for a lot of what I’ve done in my own business, and I know you’ll enjoy the conversation.

Episode Highlights:

4:24 How (and why) Kevin consistently publishes daily blog content
6:47 Kevin’s background from working in analytics to starting his own business
9:15 The biggest challenge business owners face around their analytics and using data
12:08 Approaching the attribution problem
17:21 Identifying low-cost and no-cost acquisition channels for your brand
21:04 Using data to retain the new customers you acquired in 2020
27:06 Building a solid foundation that will pay back in conversion dividends over time
31:42 When to start investing in the “welcome program” mentality
35:46 Looking at repeat purchase rate data
41:24 The biggest mistake business owners make when evaluating data
45:14 The discount challenge - when & where is the place for discounts
48:13 Everyone thinks their customers are loyal - why they’re actually not
52:04 Where to go to learn more about Kevin

Links and Resources:

Direct download: EI20309_KevinHillstrom_Midroll_1.mp3
Category:general -- posted at: 3:00am CDT

Tue, 15 June 2021

308: Are 5 Brands Better than One? Lessons From Running Multiple Ecommerce Businesses at Once

Imagine the insights you'd glean if you could get a behind-the-scenes look at five different brands at once. Lucky for you today's guest is pulling back the curtain.

Andrew Faris is the host of the Ecommerce Playbook Podcast and CEO of eCommerce holding company, 4x400. After helping grow one brand from $0 to $20MM in less than 2 years, Andrew founded 4x400, where he supports five different eCommerce brands.

In this episode, Andrew shares the challenges he's faced and how his mindset has changed while running multiple eCommerce businesses simultaneously. We discuss the shift he anticipates we'll see in how brands reach their audiences in the near future and the channels he's investing in as a result of this.

If you're an eCommerce operator, you won't want to miss this episode.

Episode Highlights:

4:13 The meaning of 4x400 and how it relates to business growth.
6:11 Andrew's beginnings in the eCommerce world.
10:20 The challenges of operating multiple eCommerce businesses at once and the depth of learning that comes with it.
15:57 What Andrew's team at 4x400 looks like.
19:03 Metrics Andrew regularly looks at to track brands' success.
21:34 Impacts of the iOS 14 update across five different brands.
24:57 Channels Andrew is investing in as a result of Facebook's volatility.
29:45 The mindset shift entrepreneurs need to make around attribution.
32:37 Why you should take a cautious approach to your 2021 projections, especially if you crushed it in 2020.
33:59 How Andrew measures success and the difference between his free cash flow and EBITA goals.
37:15 Recommended resources for eCommerce entrepreneurs.
40:10 Lessons Andrew's learned as he's grown into a leader in his business.
45:25 Things that are making Andrew's life better right now.

Links and Resources:

4x400
QALO
Agency Partners
- Kynship
- CTC
Community Resources
- eCommerce Fuel
- ADmission
Podcasts
Klaviyo
Twitter
Related Episodes
- 211: From Seminary To Shopify Plus: A Conversation About Brands with Aaron Orendorff
- 306: What’s Next In Ecommerce: The Future Of Amazon, Facebook Sustainability, And Emerging Channels With Andrew Youderian
Intentional Wealth
The Coalition
@a_brawn on Twitter
Review or subscribe on iTunes

Direct download: EI_308_Updated.mp3
Category:general -- posted at: 3:00am CDT

Mon, 14 June 2021

BONUS: Sacrifice or Success? Two Options to Help You Scale Without Burning Out

Think you need to sacrifice everything to have a successful business? You're wrong.

When you get to a certain point in your business' growth, sacrificing your relationships and your health is the worst thing you can do for your ongoing success.

We help you scale up without sacrificing everything or feeling overwhelmed. Today, I'm walking through our current programs so you can determine which one is the right fit for you.

Episode Highlights:

3:37 A coaching community with tools to help you scale up
6:41 Building connections with established eCommerce entrepreneurs
10:02 Accelerating your growth without adding more to your plate
12:03 Expanding your network and keeping yourself accountable
14:21 Where to go if you're ready to level up in your business

Links and Resources:

Direct download: EI_Flash_3.mp3
Category:general -- posted at: 3:00am CDT

Wed, 9 June 2021

BONUS: The 7-Step Roadmap for Building a Self-Managing Company

Most people start a business because they dream of freedom. But in reality, they build themselves a prison.

Having 7 or 8-figure revenue only does so much good if your entire business is dependent on you. I see so many business owners with more stress and less free time.

The good news is, it doesn't have to be this way.

In this episode, I'm sharing the 7-step roadmap for how to build a self-managing company that brings you joy and gives you the freedom you've always desired.

If you're ready to get more freedom in your business, without sacrificing your health, personal life, or family, you need to check out Intentional Wealth. It's an 8-week accelerator for eCommerce business owners that kicks off July 7. The enrollment period is open now, and the program is filling up quickly. Get the details here.

Episode Highlights:

3:05 Step #1 for building a self-managing company: Change your mindset about what's possible.
5:07 Step #2: Understand what you're really selling.
7:11 Step #3: Start thinking like a general manager, not a coach.
9:37 Step #4 for building a self-managing company: Share your intent, not your outline.
12:21 Step #5: Narrow down your metrics and give your team autonomy.
14:43 Step #6: Embrace delegation as a competitive advantage.
17:01 Step #7 for building a self-managing company: Find your mentors.

Links and Resources:

Direct download: Flash_2_Building_a_self-managing_Company.mp3
Category:general -- posted at: 3:00am CDT

Tue, 8 June 2021

307: How to Drive Massive Revenue with Email Marketing

Are you making at least 20% of your revenue from email marketing? If not, today’s guest is here to tell you how.

Chase Dimond is a prolific email marketer who is making a lot of noise in the eCommerce arena. In 2018, he launched an email marketing agency called Boundless Labs that supports 6-9 figure eCommerce companies. Since then, he and his team have helped their clients send hundreds of millions of emails resulting in over $50 million in email attributable revenue.

Chase joins us on today’s episode to share his knowledge on email marketing for eCommerce. He offers specific and tangible actions you can take to drive more sales and increase your email marketing revenue, talks about what works in email and what doesn’t, how to optimize your opt-ins, and how to find talented copywriters.

Enjoy!

Episode Highlights:

4:26 The Bernie Singles Case Study
8:10 Common misconceptions about email marketing
10:05 Chase’s early career in email marketing
14:02 How Chase took complete ownership of his marketing funnel
17:54 The easiest ways to increase your eCommerce revenue with email marketing
20:09 How to maximize your email opt-ins
22:31 Does gamification work for opt-ins?
23:36 Chase’s email diagnostic checklist
27:27 What types of products should be invested in email marketing
32:09 The future of SMS marketing and what is overhyped
36:41 How to find talented copywriters and designers
39:53 Resources that helped Chase build Boundless Labs
42:47 What motivates Chase to stay committed to email marketing

Links and Resources:

Direct download: EI307_Chase_Diamond_Midroll.mp3
Category:general -- posted at: 3:00am CDT

Fri, 4 June 2021

BONUS: 9 Reasons Why Your Ecommerce Business Isn't Growing

Do you want to unlock massive growth or stay small? If you're unsure why your eCommerce business isn't growing, this episode is for you.

Over the last five years, I've worked with businesses that have grown from $100K per month to $1MM per month, and I've worked with businesses that have continued to stay small, despite their desire for growth.

In this bonus episode, I'm sharing the 9 reasons why your eCommerce business isn't growing, and how you can change that.

If you're ready to unlock growth in your business, without sacrificing your health, personal life, or family, you need to check out Intentional Wealth. It's an 8-week accelerator for eCommerce business owners that kicks off July 7. The enrollment period is open now, and the program is filling up quickly. Get the details here.

Episode Highlights:

2:51 Reason #1 why your eCommerce business isn't growing: You're scarcity focused
4:12 Reason #2: You aren't keeping up when the game changes
5:24 Reason #3: Superhero Syndrome
7:23 Reason #4 why your eCommerce business isn't growing: You aren't managing your cash
8:35 Reason #5: You're transaction-focused instead of transformation-focused
11:20 Reason #6: You're focused on tactics instead of strategy
12:46: Reason #7: You don't know what you want or what your business is
16:31 Reason #8 why your eCommerce business isn't growing: You think in terms of cost, not investment
18:12 Reason #9: You're trying to do it all alone.

Links and Resources:

Direct download: EI_Flash_9_Reasons.mp3
Category:general -- posted at: 3:00am CDT

Tue, 1 June 2021

306: What’s Next In Ecommerce: The Future of Amazon, Facebook Sustainability, and Emerging Channels With Andrew Youderian

After a decade of fast-paced growth, are you wondering what’s next in eCommerce? Today’s guest is here to share his predictions.

Three-time returning guest Andrew Youderian is back on today’s show. Andrew is a well-known entrepreneur in the eCommerce space, host of the eCommerce Fuel Podcast and the owner of the eCommerce Fuel forum.

In this episode, we do some big picture thinking on what’s next in eCommerce, what we’ve seen coming and going, Facebook trends and the future of Amazon. We also touch on brand building, emerging channels to pay attention to and what we think is on the horizon.

Episode Highlights:

5:39 Fast-paced growth and what’s next in eCommerce
8:39 The state of Amazon for eCommerce sellers
13:00 Is Facebook advertising going to be a thing of the future or the past?
18:46 Why Andrew Youderian doesn’t think Facebook is the path to sustainable growth
23:40 Strategies for owning your relationship with your community
28:10 Are you still experiencing asymmetric returns?
32:42 How to take advantage of emerging channels to grow your audience
35:49 Why Andrew closed the eCommerce Fuel job board
40:04 Exciting new tools and the future of Facebook groups
45:47 Why social trust is critical to the success of businesses

Links and Resources:

Direct download: EI306_Andrew_Youderian_Midroll.mp3
Category:general -- posted at: 3:00am CDT