how to build a $24 million ecommerce company in 2 years
TRANSCRIPT
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#ecommgrowth
What you’re going to learn
1The 3 things you can’t afford to get wrong (even on
day one)
How to identify breakout success in the first 6
months of your business
The 3 drivers that fuel growth at top companies
...and much more!
2
3
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#ecommgrowth
Ecommerce as a whole is growing
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#ecommgrowth
Some companies are growing MUCH faster than the
rest
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The 3 Growth Drivers
1
2
3
Product/Market Fit
Efficient Acquisition
Customer Retention
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What conventional wisdom about
CRO won’t tell you
GROWTH DRIVER #1:
Product/Market Fit
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#ecommgrowth
Indicator #1: Revenue
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Indicator #2: New Customers
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Indicator #3: Number of Orders
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Indicator #4: CLV
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What works for Thrillist
Find some Thrillist examples that illustrate the points in his notesWhat You Can’t Get Wrong!(Even on day 1)
Create a product and brand
experience customers love.
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What conventional wisdom about
CRO won’t tell you
GROWTH DRIVER #2:
Efficient Acquisition
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#ecommgrowth
Best-in-class customer acquisition
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#ecommgrowth
Ad platforms becoming more valuable
FBX
launched in
2012
Callout extensions
launched in 2014
Geotargeting
launched in 2014
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1
2
Make the picture worth a 1000 words
Test and Learn
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Make the Picture Worth a 1000
Words
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Test & Learn
Images TargetingCustom Audiences
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Get your policies right
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Warby Parker
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#ecommgrowth
What works for Thrillist
Find some Thrillist examples that illustrate the points in his notesWhat You Can’t Get Wrong!(Even on day 1)
Get your policies right.
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What conventional wisdom about
CRO won’t tell you
GROWTH DRIVER #3:
Retention
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#ecommgrowth
Best-in-class customer retention
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#ecommgrowth
Start niche and maintain the core
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It gets harder to grow fast
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#ecommgrowth
Stay relevant and surprising
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Stay relevant and surprising
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#ecommgrowth
Customer Service
1
2
Get your policies right
Invest in customer service tools
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#ecommgrowth
What works for Thrillist
Find some Thrillist examples that illustrate the points in his notesWhat You Can’t Get Wrong!(Even on day 1)
Make amazing customer
service the standard.
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Remarketing
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Create multiple touchpoints
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Create personalized online experience
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What conventional wisdom about
CRO won’t tell you
THE ONE KPI
Customer Lifetime Value
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365-Day Orders per Customer
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Average Order Value
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Mr Porter
“I need a coat.”
“I need something for an event.”
“I want to buy what’s cool.”
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365-Day CLV
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#ecommgrowth
1
2
Track your cohorts!
Make invest-or-kill decisions
2 ways to use CLV
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Cohort Analysis
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Marketing ROI
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JackThreads
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#CRO2015
Thank you for joining us!