79. Retention vs. Acquisition: Sachin Bhargava’s E-commerce Secrets

https://youtu.be/eIGdnieYM_s

In this episode, I welcome Sachin K. Bhargava, the Senior Director of Digital Products and e-commerce at John Hardy, a leading luxury jewelry brand. Sachin brings a wealth of experience from his roles at notable companies like Gilt Groupe, Mack Weldon, and Bespoke Post. He shares with us his journey in e-commerce, emphasizing the importance of creating exceptional customer experiences and the evolving KPIs in today's digital landscape.

Sachin shares insights on the challenges of attribution in omnichannel marketing, the integration of AI tools for better decision-making, and the significance of retention strategies over acquisition in a competitive market.

Additionally, Sachin offers valuable advice for entrepreneurs navigating the complexities of digital marketing and operations, highlighting the need for specialized expertise and the benefits of leveraging fractional work. We also learn about his unique background as a professional dancer and his entrepreneurial venture with Any Baby, a gender-neutral baby clothing line.

Tune in to gain actionable tips on enhancing customer experiences, leveraging data, and balancing passion with career growth in the dynamic world of e-commerce.

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Guest: Sachin K. Bhargava, the Senior Director of Digital Products and e-commerce at John Hardy

LinkedIn: https://www.linkedin.com/in/sachin-k-bhargava/

Any Baby - https://anybaby.io/

SKB Digital - https://www.skb.digital/

Sachin's online course for entrepreneurs trying to scale an e-commerce brand -https://www.udemy.com/course/entrepreneurship-digital-strategy-academy/?referralCode=091CCA9766137BB8CE93 

Takeaways:

• Providing a great customer experience is crucial for e-commerce success, and it should be tailored to the specific needs of each brand.
• Different businesses have different KPIs, and it's important to measure and optimize them based on the specific goals and context of the brand.
• AI can be a valuable tool in improving decision-making and optimizing marketing efforts, but it should be used in conjunction with human expertise.
• Attribution in an omnichannel environment is challenging, and better technology solutions are needed to track and understand customer journeys.
• Entrepreneurs face challenges in acquiring the necessary expertise and resources to run a successful business, and leveraging fractional work can be a cost-effective solution.
• Experimentation, data analysis, and iteration are key to finding effective marketing tactics and optimizing performance.

Chapters:

00:00 Introduction and Background

02:00 Delivering a Great Customer Experience

05:14 The Role of AI in Decision-Making

10:14 Challenges of Attribution in an Omnichannel Environment

16:09 Overcoming Challenges as an Entrepreneur