SE4 EP28: The Single Channel Trap
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 bus
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Show Notes
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.
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