TL;DR: The 2 differences are how a business handles product line extension and channel diversification. Jeremy Horowitz says to extend your line by listening to customers, which turns buyers into repeat customers. Build relationships through email and SMS, and use a warranty program or product insert to capture the emails of your Amazon buyers.
Jeremy Horowitz is the host of Messenger Mastermind podcast and agency. He is also the owner and moderator of 100 6-8 figure e-comm companies, and has managed an 8-figure Shopify channel, a 7 figure Amazon channel and responsible for more than $1.5 million revenues through SMS. He will talk about how these channels could work together to favor the business.
DIFFERENCES BETWEEN 6-FIGURE AND 7-8 FIGURE ECOM – WHAT YOU’LL LEARN
- Businesses they help
- Product Line Extensions
- Effective Customer Survey
- Channel Diversification
- Coordinating the various channels
- Strategies for Companies with Heavy Amazon presence
- Building product launch campaign hype
KEY POINTS
- There is a difference in attitude on how businesses with 6-figures, 7-figures, or 8 figures approach product line extension and channel diversification.
- Product line extension is a natural byproduct of listening to the customer base. This strategy not only provides new customers but also builds on existing customers to become repeat customers of the business.
- The system of utilizing emails in establishing a relationship with customers is the same with reaching out to them through SMS.
- Those businesses with enough cash flow may take advantage of advertising now given that rates are very low. This would prepare the business for the 3rd and 4th quarter performance and beyond.
- Including a warranty program or a product insert that would help secure the email of a customer purchasing from Amazon would be a good start in building your core customer base.
80+ in-house specialists across PPC, supply chain, account management and content.
RELEVANT MATERIALS
- How to Create Successful eCommerce
- 5 Keys to Unlock an 8-Figure Ecom Business
- Industries That Thrive Best in the eCommerce Landscape
- Running an 8-Figure eCommerce Portfolio
- How to Become a 9-Figure Brand
CONTACT JEREMY HOROWITZ
Make sure to give Jeremy Messenger Mastermind Podcast a listen on Apple Podcast and send your inquiries to jeremy@messengermastermind.co.
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