2X eCommerce Podcast

Filip is a mechanical engineer by training that has designed, tested and built products for over 12 years now for a broad range of companies – from Fortune 500 companies to start-up product brands.

He founded The Product Startup to provide a step-by-step blueprint to aspiring product creators wanting to bring their own ideas to market.

Product development is NOT a straight A to B shotHis core guiding principle for product development and going to market is to iterate quickly, run small tests, repeat the tests and alter your product. 

He shares his DIY PRODUCT DEVELOPMENT framework on this show. An amazing guest. 

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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

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On this episode I take you through KPIs I track daily, monthly and seasonally.      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

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Molly is the Founder and CEO of Black Pearl Swimwear which creates luxury swimwear for diverse women with a fun, uplifting shopping experience that respects and empowers them to be confident, comfortable and sexy on their own terms.

She shares her experience of how Black Pearl Swimwear has collaborated with local boutiques in the Metro Atlanta area and has also recently completed a 5-week pop-up installation with Macy's  'The Market' in Florida and California.

We learn about the good, bad and ugly about pop-up stores. There is a lot to learn from this episode.

 

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SPONSORS:

This episode is brought to you by:

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 the momentum going year-round. Just head on over to klaviyo.com/beyondbf for more.

 

 

 

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On this episode, I speak with the Founder of Family Office Club, Richard Wilson. We talk about how to raise capital from Family offices, Richard’s 7-figure marketing funnel and wealth building.

 

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SPONSORS:

This episode is brought to you by:

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 the momentum going year-round. Just head on over to klaviyo.com/beyondbf for more.

 

 

 

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On today’s episode, we talk about how to use domestic manufacturers as drop ship partners for high-ticket items.

High Ticket Drop Ship Model

• $1,000 AOV
• Local Suppliers
• Quick Shipping
• Do they enforce MAP (minimum advertised price)
• Branding
• Traffic: Google Ads

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SPONSORS:

This episode is brought to you by:

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 the momentum going year-round. Just head on over to klaviyo.com/beyondbf for more.

 

 

 

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On this episode, I interview Greg Mercer, the founder of Jungle Scout, which is a data analytics tool used to reverse engineer Amazon businesses.    100 Fortune 500 companies use JungleScout and it has created 100s if not thousands of thriving Amazon businesses I have a copy of JungleScout my self on my Chrome browser   It is a super interesting interview because you can now use the tool to reverse engineer supply chains - you don’t want to miss this one! Here are six things I personally learnt from Greg on this interview:  

1. Thriving businesses understand their numbers and make data-backed decisions.
2. You can use JungleScout’s data to find the factories of top brands
3. The unit economics of Amazon has changed - work on a cost to sales price ratio of 1:4 
4. 3rd party selling is now 60% of Amazon.
5. The new way to source for winning products on Amazon is to find top selling products (500 units per month or more) with bad reviews (3.5 stars or less)
6. What drives sales on Amazon are reviews and the price of products

Check out JungleScout here: http://bit.ly/2G315SL

 

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SPONSORS:

This episode is brought to you by:

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 the momentum going year-round. Just head on over to klaviyo.com/beyondbf for more.

 

 

 

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It begins today…   The seeds have been planted, and the roots firmly grounded.   The eCommerce GrowthAccelerator Mastermind Facebook Group has just been 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   This is the first step, in bringing like-minded online retail entrepreneurs, experts and marketers together in a global community.   Mastermind Calls The next layer in the eCommerce GrowthAccelerator Mastermind ecosystem will be our group mastermind calls. They will be more intimate sessions, where members lay it all out by sharing their successes, challenges and failures.   I will be providing full details about the group mastermind calls in the Facebook group. Here is where to apply to join the Facebook group >>http://bit.ly/ecommercefb

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A follow on from yesterday's episode about Campaign Budget Optimized (CBO) campaigns.

Here are a few pointers as to how you scale your CBO campaigns:

• If your base CBO campaign is delivering +3X ROAS and target CPA, you can increase your CBO campaign by 100-500%
• You could duplicate your CBO campaign
• Use 3-5 day history cycles for scaling
• Double or duplicate decent performing CBO campaigns every 3 days
• Try to start your new budget CBO campaign by midnight or early in the day
• Use automation to pause poor performing AdSets
• Consolidate budget if you do not have much to spend
• Top of Funnel CBO campaigns will drive mid and bottom funnel activity - Feed the Top of Funnel CBO
• Remember that Scaling is about mindset.

------------ Sections in Depesh’s 7-Figure BPM Method for Facebook Ads course cover CBO scaling in detail.   Here is where to get his course: http://bit.ly/2uy1gQQ Remember that it is open until April 2nd, 2019  and then closes.  

 

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SPONSORS:

This episode is brought to you by:

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 the momentum going year-round. Just head on over to klaviyo.com/beyondbf for more.

 

 

 

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CBO = Campaign Budget Optimisation   Sections in Depesh’s The 7-Figure BPM Method for Facebook Ads course cover CBO in detail.   Here is where to get his course: http://bit.ly/2uy1gQQ Remember that it is open until April 2nd, 2019  and then closes.     Facebook Ads Account Structure The Facebook Ads account structure is set up in a hierarchical order as follows:  Campaign > AdSet > Ads   We have typically tested at the AdSet and Ad Level   So the variables at the Adset level have been:

1. BUDGET
2. You more granular objectives such as LP views, Add-to-Cart, InitiateCheckout, Purchase
3. Geo, 
4. Audience, 
5. Interest/Behavior/Demographic of Target Audience, 
6. Placement and Device Targeting
7. Conversion Optimisation Window

For Ads: you manage and test all your creatives   CBO Structure With the introduction of Campaign Budget Optimisation late last year, We are now able to SET budgets at the Campaign Level and Test a range of Adsets at a Campaign Level   From September 2019 you will ONLY be able to set Campaign level budgets. So no ad set budget option.   MACHINE LEARNING Facebook is leveraging machine learning to offer advertisers better opportunities. It is a move towards AD ACCOUNT AUTOMATION.   WHAT IS WORKING NOW... Here is what you need to know on what works right now for CBO (some of these tips are courtesy of Depesh):  

• CBO works best when you've tested audiences/ads before trying to scale
• Generally best with 1-day optimization at the ad set level
• use bigger budgets for CBO - ideally min $100 per ad set, ideally more (eg if 5 ad sets in a CBO campaign, min $500 budget)
• Min 2 ads, max 4 ads running - but the more ads you run, the more budget you need
• You can scale CBO more aggressively than ad set budgets. I've gone as wild as 500-1000% budget increases
• As long as audience sizes are large enough, you've tested enough and its not too late in the day - but until you're confident don't go wild
• Pause bad ads - ideally using rules, or manually. CBO can spend on bad ads quickly hence I prefer rules to cut ads on automation
• I test using normal ad sets (though from Sept 2019 this changes as CBO becomes the only way to set budgets) then move to CBO
• As your spends go up keep an eye on frequencies and performance, ad fatigue happens quickly at scale
• Group lookalikes | group interests

   

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Allen Brouwer’s story is nothing short of remarkable. In just 24 months he launched an ecommerce business, alongside co-founder Cathryn Lavery, which included a Kickstarter campaign that raised in excess of $322,000 in 24 days. Since then it has gone on to become an 8 figure company, winning the acclaimed Shopify Build a Business Competition in 2016 and the Shopify Build a Bigger Business in 2017.

He’s been personally mentored by the likes of Tony Robbins, Tim Ferris, Marie Foleo and Russell Simmons. In addition, he’s partnered with FUBU clothing founder and global entrepreneur superstar, Daymond John. As if that wasn’t enough, he’s also made it onto the Forbes 30 under 30 list for retail and commerce.

Today he’s telling his inspirational story and sharing some key insights into how he was able to rapidly scale his business.

“When we try to make things complicated, we fail”

 

Links:

• Allen's official site: allenbrouwer.com
• Best Self Co: bestself.co

 

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SPONSORS:

This episode is brought to you by:

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 the momentum going year-round. Just head on over to klaviyo.com/beyondbf for more.

 

 

 

★ Support this podcast ★