Buying Online Businesses Podcast $100M Worth Of Ecommerce Scaling Secrets with Alex Fedotoff
We know the struggle—late nights, early mornings, and the constant hustle to crack the code of eCommerce success. But what if we told you we've got the man who's not just in the game but has mastered it?
Today, Alex Fedotoff is joining the BOB podcast to share the secrets to growing an eCommerce business.
Alex is an entrepreneur running an 8-figure D2C portfolio of e-commerce brands in the beauty niche and an education space with his company, eCommerce Scaling Secrets. He's been in the eCommerce space since 2016 and generated over $100 million in sales. Alex lives in Miami with his wife and 2 boys.
Jaryd and Alex discuss the experience of buying a business and the psychology of marketing. What is the journey people take when discovering your brand and what goes on for them to make the decision to buy your product?
They also talk about positioning your brand strategically. How do you use influencers and who should you choose and why? How do you get people on your email list without just asking for a discount code? Alex also shares email marketing tips for e-commerce brands in such a way that you are not shoving your products in front of them aggressively.
Lastly, Alex shares the strategy for increasing your AOV so you can spend more on ads.
Ready to learn more about the e-commerce business? Click the ‘Play’ button and know the ecom secrets!
Episode Highlights
02:56 Alex’s experience in buying an e-commerce business
13:38 How do I get the best results with paid ads?
20:00 What people do with their e-commerce brand to gain trust
32:30 Customer’s stages when buying a product (the buying journey)
37:54 How e-commerce brands get people onto their email list aside from giving a discount code
Key Takeaways
➥ After acquiring Eqyl Actiware for about $300,000, they (Alex and his wife) realized the business had stopped functioning without the owner's involvement. Alex emphasizes two key learning experiences from this acquisition. First, it's essential to project what happens when the founder is removed from the business, ensuring it can still operate effectively. Second, staying within one's circle of competence is crucial, as investing in unfamiliar industries often leads to poor decisions.
➥ Alex emphasizes the three key elements for successful paid advertising in e-commerce, which are product differentiation, creative advertising on platforms like Facebook and Instagram, and optimizing the sales funnel. Alex suggests leveraging influencers for trust through whitelisted ads.
➥ Understanding customer avatars is crucial for effective e-commerce advertising. Alex Fedotoff suggests ways to identify target demographics, such as by analyzing Amazon reviews, studying competitor ads, and utilizing post-purchase surveys.
About The Guest
Alex Fedotoff is an entrepreneur running an 8-figure D2C portfolio of ecommerce brands in the beauty niche and an education space with his company, eCommerce Scaling Secrets.
He's been in the eCommerce space since 2016 and generated over $100 million in sales.
Alex lives in Miami with his wife and 2 boys.
Connect with Alex Fedotoff
➥ alexfedotoff.com
➥ https://www.instagram.com/alexfedotofff
➥ https://www.ecommercescalingsecrets.com/home-ess
Resource Links
➥ Sell your business to us here - https://www.buyingonlinebusinesses.co/sellyourbusiness
➥ Buying Online Businesses Website - https://buyingonlinebusinesses.com
➥ Download the Due Diligence Framework - https://buyingonlinebusinesses.com/freeresources/
➥ Sonic Writer (AI Content Generator) - https://bit.ly/3ZjHRPX
➥ Content Scale AI (AI Content Detector) - https://bit.ly/3LlxRBV
➥ Mangools (SEO tool) - https://bit.ly/3wV4hLc
➥ Market Muse (Content Marketing Software) - https://bit.ly/3Me39L0
🔥Buy & Sell Online Businesses Here (Top Website Brokers We Use) 🔥
➥ Empire Flippers - https://bit.ly/3RtyMkE
➥ Flippa - https://bit.ly/3WYX0Ve
➥ Motion Invest - https://bit.ly/3YmJAmO
➥ Investors Club - https://bit.ly/3ZpgioR
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