Secrets To Scaling Your Ecommerce Brand Ep 216: Scaling Your Ecommerce Subscription Brand Through An Omnichannel Approach With Nik Hall
If you ever thought about turning your product into a subscription product, or you want to learn from a person who has scaled a brand through subscriptions, this episode is for you.
This episode’s guest Nik Hall, Co-founder of Vitafive, shares his experience as a subscription space expert. Listen up, subscribe to our podcast and we hope you learn something new!
KEY TAKEAWAYS FROM THIS EPISODE
- After spending over $200k over 2 years on their website, Nik’s advice is to start with Shopify.
- Scaling a subscription-based product online without outside investment or an omnichannel approach is really difficult because of cash flow constraints.
- Traditional Cost to Acquire Customers to Lifetime Value comparison needs to also take into account subscription churn and the amount of time it takes to get to that Lifetime value while managing cash flow.
- The Facebook ads apocalypse (IOS updates) will distinguish those that are innovative and good marketers from those that are just doing ok.
- The omnichannel approach minimizes your risk of having all your eggs in one basket.
- Connect with people within your industry - “The best properties are rarely for sale. The best employees are rarely job hunting. The best clients are rarely shopping. The best option is usually off the market. Most people think this means you can’t have it but what it really means is go find it and sell it yourself.”
- Your network is a cheat code to finding great partners and resources to scale.
TODAY’S GUEST
Nik Hall is the co-founder of Vitafive.
Vitafive is an emerging gummy vitamin brand with high-quality ingredients and eco-friendly packaging.
Connect and learn more about Nik and his company here:
LinkedIn: https://www.linkedin.com/in/nikhall/
Website: https://vitafive.com
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