Lucrative eCommerce Ventures with Ben Knegendorf
In Episode 112 of the Lion’s Share Marketing Podcast, Tyler and Jon break down brands diving into the new world of Non-Fungible Tokens (NFTs). NFTs are tokens that represent a unique digital item, purchased with cryptocurrency. The new popularity of NFTs, in general, has encouraged brands to use NFTs as PR campaigns. While artists like Beeple have sold off digital art of 69 million dollars, Pringles, Charmin, and various alcohol brands have been using NFTs as conduits for major PR stunts. Tyler and Jon highlighted that the future of NFTs is unstable. There will be winners and quite a few losers, but it’s interesting to this crypto-driven land grab nonetheless.
Then Tyler introduces Ben Knegendorf, host of the BK Show and serial e-commerce expert. Ben first explains how his e-commerce journey began - with a job at Walmart. He began flipping items on eBay and the venture eventually emerged into the eCommerce business with drop-shipping.
Ben gained his eCommerce expertise by selling furniture, golf equipment, and running a wide variety of other specialized eCommerce stores. Ben highlights that SEO is nowhere near dead and needs to be valued more in the eCommerce community. Ben has used what he’s learned interacting with various brands to acquire better products that match more consumers' needs after seeing customer feedback.
Ben then passes along his key takeaway: don’t sleep on SEO and start the side hustle you’ve been mulling over. Join Tyler, Jon, and Ben for an exciting look into the future of digital currency and the latest developments in the e-commerce world.
Timestamps
00:00 - Intro
01:21 - What’s in the News: Pringles Jumps on the NFT Bandwagon
08:52 - Featured Guest: Ben Knegendorf
10:10 - Ben’s Start in eCommerce
11:30 - Ben’s First Successful eCommerce Venture
14:12 - The Dangers of “Fake it Till You Make It” eCommerce Courses
15:18 - Shopify’s New Impact on eCommerce
15:30 - Ben’s Various eCommerce Businesses
16:31 - How to Make a Lucrative Exit in eCommerce
20:04 - Sharing Resources Across eCommerce Businesses
22:51 - Trends in eCommerce and Apple’s Future Battle Over Privacy
30:55 - Apple vs Roku for Original Content
32:16 - OTT Ads for eCommerce
34:26 - Ben’s Advice on SEO and Link Building
37:47 - When Should You Exit an eCommerce Business?
40:08 - What’s Ben’s Biggest Challenge in eCommerce?
41:00 - Ben’s Newest eCommerce Ventures
41:55 - The BK Podcast and His Inspirations
44:46 - Ben’s Key Takeaway
