SE2 EP09: Ecommerce Metrics to Measure at each Stage of Your Sales Funnel [PART 1]

On today's episode, we dive deep into the world of e-commerce, entrepreneurship, and building a brand that stands out in the crowded digital marketplace. Kunle speaks to Phil from Holme & Hadfield, a brand that has taken the e-commerce world by storm by focusing on creating meticulously designed organizers for watches, knives, and tech gear that cater to the modern consumer's desire for both functionality and aesthetics.

Phil's journey is nothing short of inspirational. Starting from a realization during a sabbatical that the traditional 9-to-5 wasn't for him, to launching a brand that has now become synonymous with quality and innovation. Holme & Hadfield isn't just a success story; it's a testament to the power of understanding your audience and creating products that truly resonate with their needs and aspirations.

Today, Phil shares his insights on everything from the importance of product design and customer feedback to navigating the complexities of Amazon and DTC sales channels. Whether you're an aspiring entrepreneur, a seasoned business owner, or someone passionate about the e-commerce space, this episode is packed with valuable lessons, strategies, and a whole lot of inspiration.

So, grab your notebook, settle in, and let's uncover the secrets behind building a brand that leads with innovation, quality, and a deep understanding of what the customer truly desires.

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🔔 Book Announcement:

📈 'E-Commerce Growth Strategy: A Brand-Driven Approach' by Kunle Campbell

Exciting news for our listeners! Kunle Campbell, your host and e-commerce expert, has just released his new book: ‘E-Commercer Growth Strategy.’ This essential guide is packed with strategies for attracting shoppers, building community, and retaining customers in the e-comerce space. Drawing on insights from the 2X eCommerce podcast and Kunle’s extensive experience, this book is a must-read for anyone in the e-commerce industry.

Elevate your e-commerce game today!

Available now on Amazon: https://amzn.to/3S26y0Y

---

SPONSORS:
 

This episode is brought to you by:
 

Treyd Podcast - Treyd Secrets

Discover the operational secrets behind successful e-commerce with ‘Treyd Secrets’. Hosted by Peter Beckman, CEO of Treyd, this podcast is a goldmine of expert insights covering everything from inventory management to sales strategies. Perfect for e-commerce trailblazers seeking to thrive in this dynamic industry. Tune in to 'Treyd Secrets' on your favorite podcast app or visit treyd.io/podcast.

On today’s episode, Kunle is joined by Aditya Varanasi, CEO of Awarity, a media agency that offers effective ad campaigns for small businesses through connected TV.

Aditya Varanasi only dreamt of a stable and high-paying job so he decided to become a doctor. Little did he know that life had a different plan. He soon stumbled upon the world of digital marketing, fell in love, and built his own digital marketing agency, Awarity, and has been helping small businesses scale their ad campaigns successfully.

While most businesses target social media, Awarity’s innovative strategies in terms of brand awareness are helping smaller businesses that are looking to maximize their online presence through connected TV and banner ads. Aditya’s passion for creativity has taken Aditya to quickly become a leader in digital marketing.

It’s an interesting episode as you’d hear Kunle and Aditya talk more about Aditya’s journey to becoming a successful CEO and Awarity’s strategies and processes for creating brand awareness.

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🔔 Book Announcement:

📈 'E-Commerce Growth Strategy: A Brand-Driven Approach' by Kunle Campbell

Exciting news for our listeners! Kunle Campbell, your host and e-commerce expert, has just released his new book: ‘E-Commercer Growth Strategy.’ This essential guide is packed with strategies for attracting shoppers, building community, and retaining customers in the e-comerce space. Drawing on insights from the 2X eCommerce podcast and Kunle’s extensive experience, this book is a must-read for anyone in the e-commerce industry.

Elevate your e-commerce game today!

Available now on Amazon: https://amzn.to/3S26y0Y

---

SPONSORS:
 

This episode is brought to you by:
 

Treyd Podcast - Treyd Secrets

Discover the operational secrets behind successful e-commerce with ‘Treyd Secrets’. Hosted by Peter Beckman, CEO of Treyd, this podcast is a goldmine of expert insights covering everything from inventory management to sales strategies. Perfect for e-commerce trailblazers seeking to thrive in this dynamic industry. Tune in to 'Treyd Secrets' on your favorite podcast app or visit treyd.io/podcast.

On today’s episode, Kunle is joined by Chase Clymer, Co-Founder of Electric Eye, an agency helping brands optimize their Shopify page to create memorable and impactful customer experiences.

“I’m earning all of my gray hair.” From the last time he was a guest in the podcast, Chase has more insights to share regarding their work in Electric Eye. Chase shared the four-page types that are essential for a successful customer journey and how they can be used to create a seamless experience. He also discusses the importance of understanding customer behavior and using data to create effective page designs.

Electric Eye has been around for more than eight years. While its growth had been remarkable, Chase shared that they have found their focus as the years went on. He shares that Electric Eye has focused its resources on creating customer journeys that focus on creating meaningful experiences and providing value to customers. He highlights the importance of using data and analytics to understand customer behavior and to create effective page designs, as well.

It’s an informative episode as you’d hear Kunle and Chase talk more about the impact of design on customer experience, perceived value, optimization on the different parts of the Shopify page, payment gateway, and page performance.

---
 
🔔 Book Announcement:

📈 'E-Commerce Growth Strategy: A Brand-Driven Approach' by Kunle Campbell

Exciting news for our listeners! Kunle Campbell, your host and e-commerce expert, has just released his new book: ‘E-Commercer Growth Strategy.’ This essential guide is packed with strategies for attracting shoppers, building community, and retaining customers in the e-comerce space. Drawing on insights from the 2X eCommerce podcast and Kunle’s extensive experience, this book is a must-read for anyone in the e-commerce industry.

Elevate your e-commerce game today!

Available now on Amazon: https://amzn.to/3S26y0Y

---

SPONSORS:
 

This episode is brought to you by:
 

Treyd Podcast - Treyd Secrets

Discover the operational secrets behind successful e-commerce with ‘Treyd Secrets’. Hosted by Peter Beckman, CEO of Treyd, this podcast is a goldmine of expert insights covering everything from inventory management to sales strategies. Perfect for e-commerce trailblazers seeking to thrive in this dynamic industry. Tune in to 'Treyd Secrets' on your favorite podcast app or visit treyd.io/podcast.

On today’s episode, Kunle, Co-Founder of Octillion Capital Partners, an acquisition company that works with “good-for-you” brands.

Kunle briefly shares his career journey from when he started with SEO to being the co-founder of Octillion Capital Partners and the host of the 2XE podcast. What was his secret on his ladder to success? He shares a simple formula to continuously improve yourself and your performance. He emphasizes the importance of the three tenets as a business person or even if you’re still thinking of starting a business.

Kunle is talking about health, wealth, and mindset. He reminds his listeners to focus on these three tenets first and not sacrifice them for the business. He emphasizes how nurturing the body and mind can give you the best performance in life and business alike, and if you want to continue doing it for a long time.

It’s an enlightening episode as you’d hear Kunle talk more about what started him to think about his health, wealth, and mindset and ways how to improve these three tenets.

---
 
🔔 Book Announcement:

📈 'E-Commerce Growth Strategy: A Brand-Driven Approach' by Kunle Campbell

Exciting news for our listeners! Kunle Campbell, your host and e-commerce expert, has just released his new book: ‘E-Commercer Growth Strategy.’ This essential guide is packed with strategies for attracting shoppers, building community, and retaining customers in the e-comerce space. Drawing on insights from the 2X eCommerce podcast and Kunle’s extensive experience, this book is a must-read for anyone in the e-commerce industry.

Elevate your e-commerce game today!

Available now on Amazon: https://amzn.to/3S26y0Y

---

SPONSORS:
 

This episode is brought to you by:
 

Treyd Podcast - Treyd Secrets

Discover the operational secrets behind successful e-commerce with ‘Treyd Secrets’. Hosted by Peter Beckman, CEO of Treyd, this podcast is a goldmine of expert insights covering everything from inventory management to sales strategies. Perfect for e-commerce trailblazers seeking to thrive in this dynamic industry. Tune in to 'Treyd Secrets' on your favorite podcast app or visit treyd.io/podcast.

On today’s episode, Kunle is joined by John Kyle Beaton, President of China Product Pros, an agency helping brands first-hand with sourcing and logistics from their local networks in China.

John had always had a taste for adventure and when the opportunity came to go to China and pursue his studies, he took it and quickly fell in love with the country and decided to stay. He soon realized that he was passionate about helping brands source from China and decided to start his own agency.

Along with his wife, Xiaofeng, who’s also an expert in sourcing, they built China Product Pros. John, who’s also a brand owner of an eCommerce kitchen storage brand understands the pain points and challenges that Western brands face in sourcing from China. China Product Pros helps Western brands understand the Chinese supply chain and source the right products at the right price.

It’s an informative episode as you’d hear Kunle and John talk more about how John built China Product Pros, sourcing process and strategies, tips in sourcing, sampling, and logistics for brand owners, and the challenges that John faced in sourcing and manufacturing in China and how they found solution to them.

---
 
🔔 Book Announcement:

📈 'E-Commerce Growth Strategy: A Brand-Driven Approach' by Kunle Campbell

Exciting news for our listeners! Kunle Campbell, your host and e-commerce expert, has just released his new book: ‘E-Commercer Growth Strategy.’ This essential guide is packed with strategies for attracting shoppers, building community, and retaining customers in the e-comerce space. Drawing on insights from the 2X eCommerce podcast and Kunle’s extensive experience, this book is a must-read for anyone in the e-commerce industry.

Elevate your e-commerce game today!

Available now on Amazon: https://amzn.to/3S26y0Y

---

SPONSORS:
 

This episode is brought to you by:
 

Treyd Podcast - Treyd Secrets

Discover the operational secrets behind successful e-commerce with ‘Treyd Secrets’. Hosted by Peter Beckman, CEO of Treyd, this podcast is a goldmine of expert insights covering everything from inventory management to sales strategies. Perfect for e-commerce trailblazers seeking to thrive in this dynamic industry. Tune in to 'Treyd Secrets' on your favorite podcast app or visit treyd.io/podcast.

On today’s episode, Kunle is joined by Thomas McCutchen, Head of Strategy for The Bear Group, an agency dedicated to provide web solutions to achieve growth for brands in different industries.

Thomas McCutchen found and drove the success of Scoutside for twelve years until their continuous growth needed more than just hiring more people. The Bear Group offered more services and eventually acquired Scoutside.  This acquisition allowed the company to expand its services and provide a more comprehensive offering to its customers. It also provided an opportunity for the company to grow its customer base and reach new markets.

As Head of Strategy, Thomas emphasizes on the use of personalization to catch a customer’s interest and drive them to the brand’s end goal. Personalization can be done in myriad ways. For instance, the company uses customer segmentation to tailor its messages to different customer groups, and offers personalized recommendations based on the customer’s interests and preferences.

It’s an informative episode as you’d hear Kunle and Thomas talk more about the different levels of personalization, ways to achieve personalization for different brands, and more examples on how personalization can be fused with content marketing.

---
 
🔔 Book Announcement:

📈 'E-Commerce Growth Strategy: A Brand-Driven Approach' by Kunle Campbell

Exciting news for our listeners! Kunle Campbell, your host and e-commerce expert, has just released his new book: ‘E-Commercer Growth Strategy.’ This essential guide is packed with strategies for attracting shoppers, building community, and retaining customers in the e-comerce space. Drawing on insights from the 2X eCommerce podcast and Kunle’s extensive experience, this book is a must-read for anyone in the e-commerce industry.

Elevate your e-commerce game today!

Available now on Amazon: https://amzn.to/3S26y0Y

---

SPONSORS:
 

This episode is brought to you by:
 

Treyd Podcast - Treyd Secrets

Discover the operational secrets behind successful e-commerce with ‘Treyd Secrets’. Hosted by Peter Beckman, CEO of Treyd, this podcast is a goldmine of expert insights covering everything from inventory management to sales strategies. Perfect for e-commerce trailblazers seeking to thrive in this dynamic industry. Tune in to 'Treyd Secrets' on your favorite podcast app or visit treyd.io/podcast.

On today’s episode, Kunle is joined by Depesh Mandalia, Founder & CEO of SM Commerce, a platform that seeks to aid brand owners create better ads.

Depesh Mandalia had been a guest on the podcast episode 29 where he and Kunle talked about the success of his personalized children’s books. He’s back to share more of the changes that happened in his work and social media ads since then. He gave a peek into his BPM Method and updates on how his strategies have been successful and how his campaigns have evolved.

Depesh promoted the use of AI as he had been trying to train AI in creating ads. His passion for the potential of AI has led him to create his own that would become more helpful for eCommerce founders in making ads overall in a financial and time-economic way. He was constantly learning and experimenting with different methods and technologies and eager to push the boundaries of what AI could do.

It’s a compelling episode as you’d hear Kunle and Depesh talk more about the changes in the social media world, how he came up with his BPM Method, the benefits of using AI, training AI on prompts, and other potentials of AI in the eCommerce space.

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---

🔔 Book Announcement:

📈 'E-Commerce Growth Strategy: A Brand-Driven Approach' by Kunle Campbell

Exciting news for our listeners! Kunle Campbell, your host and e-commerce expert, has just released his new book: ‘E-Commercer Growth Strategy.’ This essential guide is packed with strategies for attracting shoppers, building community, and retaining customers in the e-comerce space. Drawing on insights from the 2X eCommerce podcast and Kunle’s extensive experience, this book is a must-read for anyone in the e-commerce industry.

Elevate your e-commerce game today!

Available now on Amazon: https://amzn.to/3S26y0Y

---

SPONSORS:
 

This episode is brought to you by:
 

Treyd Podcast - Treyd Secrets

Discover the operational secrets behind successful e-commerce with ‘Treyd Secrets’. Hosted by Peter Beckman, CEO of Treyd, this podcast is a goldmine of expert insights covering everything from inventory management to sales strategies. Perfect for e-commerce trailblazers seeking to thrive in this dynamic industry. Tune in to 'Treyd Secrets' on your favorite podcast app or visit treyd.io/podcast.

Shopify - Your E-commerce Partner

As a key player in scaling up good-for-you CPG brands, I can attest to the power of Shopify in transforming e-commerce businesses. With an easy-to-use platform and the best converting checkouts, Shopify is the go-to for businesses at any stage. From launching online to hitting major sales milestones, Shopify supports growth with AI-powered tools and 24/7 expert help. Join Shopify’s global community, including leading brands like Allbirds and Rothy’s, and elevate your business. Start with a $1 per month trial at shopify.com/ecommercex2. 

In this episode, Kunle Campbell interviews Nirav Sheth, CEO and founder of Anata, a premier eCommerce partner for direct-to-consumer (DTC) brands. They discuss the outlook for 2022 and 2024 in the eCommerce industry. They review the challenges faced by brands in 2023, the success factors for the 20% of brands that performed well, and the importance of focusing on lifetime value and retention. They also provide tips for Q1 strategies, including exploring wholesale opportunities and investing in user experience (UX). The episode concludes with an outlook for 2024 and a reminder to slow down and strategize.

Takeaways

• 2023 was a challenging year for many eCommerce brands, with a focus on profitability rather than growth.
• The 20% of brands that performed well in 2023 had a strong focus on both brand and growth, as well as a loyal community of customers.
• In Q1 of 2024, brands should consider exploring wholesale opportunities and investing in user experience (UX) to provide personalized experiences for customers.
• It is important for brands to pay attention to macroeconomic conditions, such as supply chain disruptions, and make necessary adjustments.
• The outlook for 2024 is optimistic, with a focus on strategic decision-making and slow, deliberate actions.

Chapters

00:00 Introduction and Background

03:22 Review of 2023

07:00 Success Factors for Brands in 2023

11:46 Q4 Recovery and Assessment of 2023

13:43 Focus on Lifetime Value and Retention

16:19 Q1 Strategies: Wholesale and UX

26:47 Outlook for 2024

28:18 Parting Advice: Slow Down

29:22 Anata's Services

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SPONSORS:
 

This episode is brought to you by:
 

Treyd

Ready for a game-changer in your podcast lineup?

I've got just the thing – ‘Treyd Secrets’, a new podcast that's all about giving you the operational edge in e-commerce.

Let's cut straight to the chase.

Unlike most e-commerce podcasts that dwell on marketing and growth stories,

Treyd Secrets dives deep into the operational heart of e-commerce.

This is where the real magic happens.Why tune in?

Because Treyd Secrets brings you the nuts and bolts of e-commerce success

– we're talking the nitty-gritty of inventory hacks, cash flow management, sales strategies, supply chain intricacies, product sourcing secrets, and the ins and outs of financing.

It's the operational wisdom you need to keep your business not just running, but thriving. 

Hosted by Peter Beckman, CEO of Treyd, this podcast is a treasure trove of insights from industry experts and successful e-commerce practitioners.

It's like having a roundtable of mentors, each sharing their best-kept operational secrets.

Don't let this opportunity slip through your fingers. Search for ‘Treyd Secrets’ on your favorite podcast app or visit [treyd.io/podcast].

Hit subscribe and stay ahead in the dynamic world of e-commerce.Remember, it's T-R-E-Y-D Secrets – the podcast where e-commerce operations meet success.

Tune in now and transform the way you do business!

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Shopify

If you have been following my journey here on this podcast, you'll know that I am a Co-founder at Octillion, a consolidator of digital-first good-for-you CPG brands. We acquire brands with a view to scaling them up. We currently have a portfolio of three brands all powered by the commerce platform Shopify. 

Shopify is the global commerce platform that helps you sell at every stage of your business. From the “launch-your-online-store” stage to the “first-real-life-store” stage all the way to, “did-we-just-hit-a-million-orders-stage,” Shopify is there to help you grow. Whether you're selling scented soap or offering outdoor outfits, Shopify helps you sell everywhere from their all-in-one eCommerce platform to their in-person POS system. Wherever and whatever you're selling, Shopify has got you covered.

Shopify helps you turn browsers into buyers with the internet's best converting checkouts, which is a whooping 36% better on average compared to other leading commerce platforms. You'll also sell more with less effort thanks to Shopify Magic, your AI-powered all-star. I remember the first brand we acquired was running on another platform with quite poor conversions. We made it a point of duty to get it migrated over to Shopify and our checkout conversions doubled. 

What I love about Shopify is its ease of use. I don't think there are any other eCommerce platforms that beat its usability. Shopify powers 10% of all eCommerce in the US. Shopify is truly a global force powering Allbirds, Rothy’s, Brooklinen, and millions of other entrepreneurs of every size across 170 countries. Plus, Shopify's award-winning 24/7 help is there to support your success every step of the way because businesses that grow, grow with Shopify.

Sign up for a $1 per month trial period at Shopify.com/ecommercex2. Go to Shopify.com/ecommercex2 to take your business to the next level today. 

On today’s episode, Kunle, Co-Founder of Octillion Capital Partners, an acquisition company that works with clean health, beauty, food, and beverage brands.

Kunle Campbell is a serial entrepreneur and investor. He is the Co-founder of 2X eCommerce, an eCommerce consulting agency that has helped businesses grow and scale their online sales. He is also the Co-founder of Octillion, a brand acquisition company. He is passionate about helping businesses succeed and believes that eCommerce is the future of retail. He is dedicated to helping businesses leverage the power of eCommerce to reach their goals.

He ponders on the year that was. His reflections include the importance of creating an emotional connection with the product to increase brand recall, the value of utilizing AI in business operations, and the significance of consulting with experts to fill knowledge gaps as a founder/business owner. Additionally, Kunle emphasizes the power of data in telling a compelling story alongside an emotional narrative.

It’s an insightful episode as you’d hear Kunle talk about the insights he gained in 2023 in line with his experiences as an eCommerce expert and how he can apply them in 2024.

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SPONSORS:
 

This episode is brought to you by:
 

Treyd

The 2X eCommerce Podcast is sponsored by Treyd, a revolutionary financing service transforming product launches for eCommerce brands. As the ultimate inventory purchasing solution, Treyd lets you sell first, pay suppliers later. Treyd's unsecured funding and credit model improves cash flow, supports larger orders, and even helps negotiate supplier discounts. 

With a transparent, pay-as-you-go model, Treyd offers unmatched flexibility and minimal onboarding, independent of eCommerce platforms. Experience the power of "Sell first, pay suppliers later" and snooze invoices for up to 120 days. Transform your business with Treyd today on Treyd.io.

Shopify

If you have been following my journey here on this podcast, you'll know that I am a Co-founder at Octillion, a consolidator of digital-first good-for-you CPG brands. We acquire brands with a view to scaling them up. We currently have a portfolio of three brands all powered by the commerce platform Shopify. 

Shopify is the global commerce platform that helps you sell at every stage of your business. From the “launch-your-online-store” stage to the “first-real-life-store” stage all the way to, “did-we-just-hit-a-million-orders-stage,” Shopify is there to help you grow. Whether you're selling scented soap or offering outdoor outfits, Shopify helps you sell everywhere from their all-in-one eCommerce platform to their in-person POS system. Wherever and whatever you're selling, Shopify has got you covered.

Shopify helps you turn browsers into buyers with the internet's best converting checkouts, which is a whooping 36% better on average compared to other leading commerce platforms. You'll also sell more with less effort thanks to Shopify Magic, your AI-powered all-star. I remember the first brand we acquired was running on another platform with quite poor conversions. We made it a point of duty to get it migrated over to Shopify and our checkout conversions doubled. 

What I love about Shopify is its ease of use. I don't think there are any other eCommerce platforms that beat its usability. Shopify powers 10% of all eCommerce in the US. Shopify is truly a global force powering Allbirds, Rothy’s, Brooklinen, and millions of other entrepreneurs of every size across 170 countries. Plus, Shopify's award-winning 24/7 help is there to support your success every step of the way because businesses that grow, grow with Shopify.

Sign up for a $1 per month trial period at Shopify.com/ecommercex2. Go to Shopify.com/ecommercex2 to take your business to the next level today.

In this conversation, we delve into the fascinating journey of an individual who, armed with a background in nuclear nutrition from family influences, ventured into the world of health coaching and self-education. The narrative takes an unexpected turn towards the creation of organic powders, unraveled through a personal exploration of sourcing ingredients globally. From Google searches and experimenting with suppliers to discovering the profound impact of ingredient origin on taste, the story unfolds into a global sourcing strategy. 

The significance of preserving nutrients and considering environmental impact emerges as key principles in the meticulous process of drying, milling, and transporting powders from their countries of origin to a production facility in the US or Germany. Join us as we navigate the intricate path of creating clean, flavorful powders that connect consumers with the essence of ingredients from around the world.

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SPONSORS:
 

This episode is brought to you by:

Treyd

I want to take a moment to talk about a service that has made a significant impact on product launches for eCommerce brands called Treyd. Treyd first hit the market in early 2020 and has since become the go-to financing option for over 500 brands including big names like Rowsome. In one sentence, Treyd can be described as the ultimate solution for purchasing inventory allowing retailers to sell first and pay suppliers later.

As an eCommerce brand owner myself, I can't emphasize enough how helpful Treyd has been for our business. Their unsecured funding and credits model, which takes into account the current financial health of a business, has allowed us to access financing without worrying about collateral. We've improved our cashflow by avoiding upfront supplier payments and freeing up funds. This has enabled us to invest in larger orders, expand our product range, and even negotiate supplier discounts. 

Let me tell you, the flexibility is amazing. Treyd offers a pay-as-you-go model with a flat and transparent fee, which means you only use it when you need to. No hidden costs or long-term commitments, just a simple and effective way to manage our inventory financing. The best part is Treyd works independently of eCommerce platforms and requires minimal onboarding. 

It doesn't matter if you are a founder, CEO, CFO, or part of the finance team, Treyd can be a game changer for your business. With taglines like, “Sell First. Pay suppliers later. Snooze your supplier invoices.” 

With Treyd, it's clear that Treyd is all about empowering businesses like ours to import the goods we need now while handling the invoice and allowing us to pay up to 120 days later. If you are in the eCommerce space and looking for a smart, flexible financing solution, I highly recommend giving Treyd a try. Visit their website on Treyd.io to learn more and get started today.