052: Here’s How to Make Your Ecommerce Business Wildly Successful.
With Matt Edmundson
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We’ve seen this story play out a million times before.
Someone gets that entrepreneurial fire blazing inside them only to have it quickly extinguished when they find themselves faced with indecision, fear, lack of direction or simply any sign that failure is afoot. So many of us stop at the first sign that a profitable, life-changing business might not be possible for someone with no prior business experience.
First, let me say that experience isn’t a prerequisite for starting a business… But willingness to learn, to get uncomfortable and to fail is. If you’re looking for proof that failure and discomfort are both a prereqs to stoking that entrepreneurial fire, let me direct your attention to the incomparable Matt Edmundson.
A guy who admits to having had more failures than successes, he states humbly that his successes have simply outweighed the failures, and he makes it abundantly clear that in the world of ecommerce entrepreneurship, the two are rarely sold separately.
From shipping popcorn with his products instead of bubble wrap to generating $50 million dollars of revenue worldwide from his own ecommerce site, Matt proves over and over again what’s possible when you start an online shop. He helps people uncover what they can sell, to the tune of a collective $100 million dollars of revenue generated for his ecom students, and he shares the brilliant strategies you can implement in your own business to stand out in a noisy industry.
This conversation is the complete guide for anyone who is ready to start and scale a product based business online with our fearless leader, and super down to earth guy, Matt Edmundson. You’re gonna learn alot and have some fun today, my friend.
In this episode, Matt talks about:
- How he came to be an eCommerce guru. 3:06
- The evolution of eCommerce over time and how things are different today. 5:47
- What factors were in place that allowed his business to grow and scale so effectively. 7:30
- What platforms and setups that he recommends for those just getting started with eCommerce. 10:46
- The metrics that you should be looking at. 13:29
- Understanding your conversions rates, how they compare to your industry, and setting your benchmark accordingly. 15:35
- The Seven Pillars of eCommerce marketing. 18:26
- Leveraging your marketing budget in creative and innovative ways. 21:37
- Tapping into repeat customers. 24:14
- The value of a personal touch and creativity in your packaging. 25:25
- Tips for maintaining a positive customer experience or enhancing your existing one. 31:04
- The importance of great product photos (even videos). 34:04
- His masterclass, a deep dive into eCommerce and success stories from the course. 36:33
If you’re going to do one thing today, I would figure out what products it is you’re going to sell online and research it. Who else is selling it? How are they doing it? What does their website look like? Go through their website with a fine tooth comb, what stands out what needs to be changed? Buy stuff from their website. What worked for you what didn’t work for you? Find out if Amazon sell that product. Read all the reviews, find the positive ones and the negative ones. Look at the language look at how people are feeling about it, and do their research.Matt Edmundson
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Matt was so truly lovely to chat with. He is so down to earth and approachable, and he is a complete wealth of knowledge in the eCommerce space. I mean, he’s been doing it since it’s inception practically.
Matt has loads of resources for eCommerce entrepreneurs whether you are just getting started, shifting your business online, or if you’ve had an online shop for years. Be sure to connect with Matt online, he has a free masterclass on his website.
As always, thank you again for joining me here today. I know I sounds like a borken record but I want you to know that I really mean it when I say thank you. You have hundreds of thousands of podcast options, and some seriously really good business podcasts, so the fact that you take the time to tune into my little corner of the podcast world week after week truly means everything. Ok I’ll stop gushing, but thank you again. Bye for now.
Connect with Matt
Mentioned in the Podcast
Jungle Scout is a great platform for selling on Amazon.
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Click here for the transcribed version of this podcast.