Podcast

Learn from Fast Growing 7-8 Figure Online Retailers and eCommerce Experts

EPISODE 195 21 mins

The Single Channel Trap

Posted on 3rd July 2019 ,
by Kunle Campbell


About the guests

Kunle Campbell

Kunle Campbell

Kunle advice and helps direct-to-consumer retail brands profitably acquire customers through paid media, conversion optimization, and search marketing.
He is also sometimes referred to as ’the ecommerce traffic and conversions guy’.
Kunle hosts the 2X eCommerce Podcast, a top charting podcast on iTunes business and marketing categories.



I was recently approached by a struggling 7-figure ecommerce business with sales in the region of $350K/month rev. that dropped to $260K/month, to help diagnose their rapid 25% fall in sales and propose a turnaround.

Here is what I noticed about this business and other ecommerce businesses that have had a similar drop in revenue.

Their number one issue was their over-reliance on a single channel for traffic; in their case AdWords. Year over year, CPM increased and so did their spend; but their sales from the channel actually stalled.

They also did not focus much attention on retention.
———–

FACEBOOK GROUP…CONTINUE OUR CONVERSATION

The eCommerce GrowthAccelerator Mastermind Facebook Group has just launched.
It is a community…

✔️ for founders and experts passionately involved in eCommerce
✔️ for the truly ambitious wanting to make an impact in the markets they serve
✔️ for those willing and open to help and share with other members

Here is where to apply to join the Facebook group
>>http://bit.ly/ecommercefb<<

– – –

Timestamps

7:20 The Backstory
10:15 Facebook Advertising
14:08 Balancing
14:55 Spend on Adwords
16:38 Do not market on a single channel

 

SPONSORS:

This episode is brought to you by:

Klaviyo

Klaviyo
If you’re looking to grow your business there is only one way—by building real, quality, customer relationships. Most marketing software will claim they do this, but will never deliver on their promises. You need to demand more from your marketing software that’s where Klaviyo comes in. Klaviyo helps you build meaningful customer relationships by listening and understanding cues from your customers, allowing you to easily turn that information into valuable marketing messages.
That’s why 10,000 innovative brands have switched to Klaviyo.
What’s their secret to building customer relationships? Tune into Klaviyo’s Beyond Black Friday docu-series to find out and unlock marketing strategies you can use to keep momentum going year-round. Just head on over to klaviyo.com/beyondbf for more.

Mastercard: SCA Update for EU Retailers


Attention Online retailers in Europe.
A new payments standard, known as SCA or Strong Customer Authentication will come into force in September 2019.

Mastercard research shows that up to 75% of e-commerce merchants in Europe are potentially unaware of this coming into effect. SCA is a new regulatory requirement that is designed to help retailers and issuers make digital payments more secure. The challenge is to create or keep a frictionless check-out experience for online shoppers.

SCA will allow for biometric technology and dynamic passwords to create a more secure and improved online shopping experience.
Mastercard’s Identity Check is fully compliant with SCA requirements and facilitates shopping experiences we can all trust, allowing us to securely pay online using features such as our fingerprint.

To find out more on Identity Check visit the Mastercard website here: https://newsroom.mastercard.com/eu/

 


About the host:

Kunle Campbell

An ecommerce advisor to ambitious, agile online retailers and funded ecommerce startups seeking exponentially sales growth through scalable customer acquisition, retention, conversion optimisation, product/market fit optimisation and customer referrals.

Learn from eCommerce Entrepreneurs & Marketing Experts


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