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#45 Deividas – 3 eCommerce Needle Movers to Scale eCom Business Past $3M Monthly Revenue

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This podcast is different from all the others. In it, Deividas is alone and shares the 3 biggest eCommerce needle movers and other important insights. During the past 2-3 weeks, he was busy doing thorough research on new traffic and customer acquisition channels. He says he hired new consultants, research and consumer marketers, and now, he shares all the new insights in the podcast.

The first topic he covers is Facebook. Around 3 weeks ago, Deividas says he’s been struggling with Facebook ads. Just like everyone else, his CPMs have gone up quite considerably and he wants to know why that’s the case.

It’s possibly a mix of the elections, the state of the economy, COVID, but Deividas decided to look into this more in-depth. Here are some insights he found for brands to grow:

  • Instagrammable moments – You send or do something for your clients and they share it on social media. Sounds obvious and some brands have been doing it for a long time now but these kinds of real-life-based content can perform well for many brands no matter the industry.
  • Reddit – 7th biggest website online. Many brands are driving traffic through Reddit but going viral on the site as a PR stunt is a whole different challenge. There are quite a few things that go viral on Reddit and it’s also an essential channel for marketers and brands to find their customers’ voice of their brand.
  • Community building – With this, you’re not competing for CPM and this is fine. Strong communities are much better than any type of paid ads. Instead, you’re recruiting people “for your brand” and they’ll be so proud of being a part of your community that they’ll be spreading the word of your brand on their own. This way, people part of your tribe become your brand evangelists and do word-of-mouth marketing for you.

Let’s focus on the third one.

How DO you build a community?

There are lots of things that go into it. In a way, it’s like a cult.

You need to have a very strong voice, mission, and enemies you’re against. Your community should also have its own unique language (or vocabulary, you can use Reddit to find this).

Another thing Deividias says he’s focusing on – changing the dynamics of his teams.

He realized he usually has 5 types of meetings within Sugatan:

  • Problem-solving.
  • Weekly check-ins.
  • Monthly check-ins.
  • Quarterly check-ins.
  • Brainstorming and innovations.

He says they’re now SOP-ing each one of these meetings so the same type of meetings goes through all of the organization.

One way to do this is through the Amazon problem-solving meeting formula

Here’s how that works:

Before a meeting starts, you send out the questions with all of the problems that your team is facing and put them in a Word document. In the meeting, you read through all of the comments and responses from the document. And only THEN do you start a discussion, while at the same time, you note down your answers and comments. In the end, the ‘lead’ of the meeting goes through the document to address everything and wrap it up.

Deividas says he’s realized that he was having too many meetings, and acting as the lead in all of them. This soon became overwhelming.

Now, he’s going to be asking each one of his department’s heads to lead the meetings, and then, Deividas will have a separate meeting with the lead to recap the status of the project.

Advice shared in this podcast has helped Deividas grow brands beyond $3M in revenue. Stay tuned for more actionable eCommerce marketing content and see you soon!  

     Here’s what we cover during episode #45:

  • The first-ever solo podcast by Deividas
  • Why Deividas hired new consultants, research and consumer marketers, to do deep research of 6-figure CEO brands, and other hidden marketing channels
  • What Deividas has been up to in the past 2-3 weeks that’s so important that he HAS TO share
  • Why CPMs have gone up for almost everyone working with Facebook ads in the last few weeks
  • Deep dive research into companies worth $1B and what they’re doing with their marketing
  • 3 underrated eCommerce needle movers Deividas is focusing on to scale eCom businesses past the $3M monthly revenue cap 
  • Reddit as a PR channel and why he’s investing around $7,000 of their inventory in an attempt to go viral
  • How these 2 brands took to Reddit to find their unique voice of their brand and eventually gained a massive evaluation (almost $900M)
  • What makes community building so essential for brands and why it can be even better than paid ads at times
  • Why Deividas is hiring a consumer research specialist and why he thinks it’s so important when you’re scaling from $30M-$100M
  • When Deividas realized he usually only has 5 types of different meetings, here’s what he did to change the dynamics of his team, and how he plans to make an SOP out of them (based on the Amazon problem-solving meeting formula)
  • Why Deividas is stepping back from these meetings after he realized he’s spending too much time in them, and what he’s doing about it instead that’s much more efficient
  • The best meeting-dynamic formula Deividas has come across and why he’s implementing it ASAP in his organization meetings as well as client meetings to make things 10 times more efficient
  • How Deividas is splitting up his decision-making tasks so he can focus on more important tasks in his life
  • Sign off thoughts on the “18 minute podcast”

Find Deividas:

Links mentioned in the episode:

Reddit

Drunk Elephant

Glossier

eCommerce Growth Hacks | Facebook Ads, Creatives, Email & More | by Sugatan

Last 3 Episodes:

#44 Deividas & Kris – BFCM: Masterplan How to Generate 45% of Your Yearly Revenue in 3 Months

#43 Deividas & Kris – Lessons Learned Scaling Past $30M/y and Hiring Experienced Management

#42 Ryan Mckenzie – Going from 0 to $2M/mo With Subscription Business in 1 year

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