Description

Summary

In this episode, Sebastian and Nathan discuss the 10 biggest mistakes e-commerce brands make. They cover topics such as shiny object syndrome, poor negotiations with suppliers, neglecting average order value, neglecting retention, lacking a blue ocean selling proposition, joining agencies too quickly, churning agencies, and taking on too many agencies. In this conversation, Nathan and Sebastian discuss common mistakes made by e-commerce brands. They cover topics such as misleading ROAS projections, agency costs, choosing the right agency, choosing the right ad platforms, and neglecting conversion rate optimization.

Takeaways

• Focus on one key area and do it well before expanding to other channels or strategies.
• Negotiate with suppliers to improve unit economics and ensure profitability.
• Increase average order value through upsells, cross-sells, and bundling.
• Implement a strong retention strategy to increase customer lifetime value.
• Differentiate your brand with a unique selling proposition that sets you apart from competitors.
• Be cautious when partnering with agencies and ensure expectations and commercials align.
• Avoid constantly changing agencies and focus on building long-term partnerships.
• Carefully consider the number of agencies you work with to avoid over-investing and losing focus. Be cautious of agencies that make unrealistic ROAS projections.
• Consider the relationship between agency costs and net profit.
• Choose the right agency based on their expertise and the services they offer.
• Carefully select the ad platforms that align with your product and target audience.
• Don't neglect conversion rate optimization, especially for mobile and checkout processes.

Chapters

00:00 Introduction
00:53 Mistake #1: Shiny Object Syndrome
05:03 Mistake #2: Poor Negotiations with Suppliers
10:04 Mistake #3: Neglecting Average Order Value
19:14 Mistake #4: Neglecting Retention
21:14 Mistake #5: Lacking a Blue Ocean Selling Proposition
38:26 Mistake #6: Joining Agencies Too Quickly
42:24 Mistake #7: Churning Agencies
43:56 Mistake #8: Taking on Too Many Agencies
48:37 Misleading ROAS Projections
49:32 Agency Costs and Net Profit
51:44 Choosing the Right Agency
56:29 Choosing the Right Ad Platforms
58:04 Neglecting Conversion Rate Optimization