Optimizing In A Changing Economy -- Ross Andrew Paquette // Maropost
Nov 3, 2023
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Ross Andrew Paquette, Chairman and CEO at Maropost, discusses optimizing your eCommerce business in a changing economy. They touch on the impact of the pandemic, marketing strategies during COVID-19, challenges of e-commerce spend and customer acquisition, struggles in the martech space, and optimizing marketing in an evolving economy.
Optimizing e-commerce businesses in a changing economy requires leaner approaches to growth and scalability.
Finding efficient solutions, like Maripost's platform, can help e-commerce businesses maintain a large cash position and effectively allocate their budget.
Deep dives
Optimizing E-commerce in a Changing Economy
In this podcast episode, Ross Andrew-Paquette, the chairman and CEO of Maripost, discusses the importance of optimizing e-commerce businesses in a changing economy. With increasing shipping and labor costs, Ross emphasizes the need for leaner approaches to growth and scalability. He highlights the impact of consumer spending trends on e-commerce businesses, noting that even individuals with higher incomes are scaling back their spending. Ross also mentions the effectiveness of influencer marketing for certain industries, with smaller influencers offering a cost-effective way to acquire customers.
The Challenges of Balancing Budget in E-commerce
Ross addresses the challenges of balancing a business's budget in e-commerce. He points out that most e-commerce organizations struggle to effectively allocate their budget, especially when holding a large inventory. Ross suggests that having a limited product set can enable better control over budget allocation. However, he acknowledges that many e-commerce businesses, regardless of their management, find it difficult to maintain a large cash position, especially after the impact of COVID-19 on capital. He emphasizes the importance of finding efficient solutions, like Maripost's platform, which provides a comprehensive tech stack for e-commerce businesses.
Exploring Marketing Channels in E-commerce
Ross discusses the current state of marketing channels in e-commerce. While some changes have occurred, such as the shift from well-known influencers to smaller influencers, Ross notes that there hasn't been a significant development in terms of new channels or technologies. He highlights the importance of staying updated on economic and banking trends as leading indicators for marketing strategy. Ross also mentions that while there is ongoing discussion about AI and machine learning, e-commerce businesses are still relying on traditional channels like social media advertising and influencer marketing. He emphasizes the need for innovation in the industry to drive further advancements.
Ross Andrew Paquette, Chairman and CEO at Maropost, talks about optimizing your eCommerce business. As the world transitions away from the pandemic, the economy is facing a decline despite the previous success experienced by eCommerce companies. In response, eCommerce companies must adapt their strategies to not only maintain their current success but also to continue growing and thriving in an ever-changing economic landscape. Today, Ross discusses optimizing in a changing economy. Show Notes