Secrets To Scaling Your Ecommerce Brand Ep 433: 2023 Strategies to Turn Around Your Ecommerce Brand and Avoid Bankruptcy With Brendan Bannister, Natura Labs
A bunch of mini-wins adds up to a big win. It’s about improving over time and having a systematic approach to solving the problems in running your brand.
In this episode, Jordan West interviews Brendan Bannister of Natura Labs. He talks about the different trends that are happening right now in ecom. He also shares a take on how 99% of eCommerce brands are potentially heading toward bankruptcy if they do not fix some core issues. He shares what these core issues are and how to fix them.
Listen and learn in this episode!
KEY TAKEAWAYS FROM THIS EPISODE
- R&D has a systematic way of understanding why your systems are working or not working and a scientific way to solve your problems.
- Brands are playing a very tough game and you have to understand the complexities of the game that you’re playing to play it well.
- Do not focus on shiny objects. Slow down and focus on solving the micro problems that your brand is having.
- The creative and the messaging are like the bottom of the pyramid that feeds the rest of the brand.
- It's a bunch of mini-wins that add up to a big win. It's about improving over time.
- Sometimes an overabundance of some data may be telling you something wrong or giving you the wrong insights to start turning ads off.
- Brands that are heading towards bankruptcy don't have any strict strategy in what they do, while companies that are doing good are focused strictly on longevity.
Recommended App:
Motion App https://www.usemotion.com/
Varos https://www.varos.com/
Recommended Book:
Discipline is Destiny by Ryan Holiday https://www.goodreads.com/en/book/show/60018575
Today’s Guest:
Brendan Bannister is the CEO and founder of a new research and development organization for eCommerce called Natura Labs. They help brands solve problems and execute as fast as they possibly can.
Connect and learn more about Brendan Bannister and Natura Labs here:
Website: https://www.naturalabs.io/
Twitter: https://twitter.com/naturalabs_io
LinkedIn: https://www.linkedin.com/company/almost-86/
Twitter: https://twitter.com/seeyounvr
LinkedIn: https://www.linkedin.com/in/brendanbannister/
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