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
2X eCommerce Podcast · Kunle Campbell
Audio is streamed directly from the publisher (media.transistor.fm) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
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.
-----------
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 ★ Support this podcast ★