SE4 EP28: The Single Channel Trap
2X eCommerce Podcast
English - July 03, 2019 11:19 - 21 minutes - 21 MB - ★★★★★ - 51 ratingsMarketing Business Entrepreneurship business digitalmarketing ecommerce etail etailers magento marketings multichannelretail omnichannel onlineretail Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: SE4 EP27: How Xometry Scaled Up its B2B Manufacturing Marketplace
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