This week Budai Media founder Daniel sits down with Deividas, a brilliant digital marketer that helped co-found the Sugatan, a leading marketing force in the ecommerce industry!
Although originally hailing from Europe, he now spends most of his time in the Digital Nomad hotspot of Dubai!
Listen in as we talk about:
??When you should focus on scaling up your business
?? How to hit the next level in monthly revenue
?? The most effective channels for online marketing
??Developing new products for your ecommerce store
?? Ecommerce difference in Europe vs. America
Let’s dive deeper on these topics.
The Right Time to Grow
Deividas provides some valuable tips for scaling businesses, coming from his experience growing major ecommerce brands to 8-figure giants. He recommends not getting ahead of yourself and being patient in the beginning.
As time progresses, you can start to make changes in how you advertise, who you hire, and how you look through your data. Deividas and Daniel even agree that you should wait until $300 thousand in monthly revenue to expand your marketing from one channel to multiple utilizing Facebook, Google, Youtube, Instagram influencers, and more.
Set Revenue Goals and Beat Them!
Epic ecommerce brands aren’t built overnight. Deividas describes the different steps it takes to reach certain milestones like $1 million in monthly revenue.
His process is to make a plan for every new revenue tier, and strategically scale up marketing, hire specialists, find new avenues for marketing, and more. You can also afford to buy more expensive tools and spend more money on advertising the more profitable your business becomes!
Facebook, Google, Youtube, Tik Tok, and More!
Digital marketers must get creative when it comes to building brand recognition. Deividas mentions that all ecommerce stores should start right off the bat with email marketing as it is a simple and cost-effective way to begin your growth.
The Sugatan Agency utilizes Facebook Ads and Instagram influencers normally, but they are looking for a third heavy hitter for their lineup. Tik Tok is a rapidly emerging channel to consider for younger audiences, but Deividas prefers to look more into SEO (a great long term investment) and Youtube, although this has proven more difficult to scale.
Focus on One Product or Many?
There is a time and a place to expand your offering of products, but oftentimes people disagree on when you should do so. Deividas suggests only investing in new potential products when you have the available time and cash flow to. Otherwise, it’s best to focus on your main products and scale up accordingly.
If you develop new products in-house like Sugatan?s clients, then it can take a long time for new quality products to hit the market.
Starting an Ecommerce Business in the European Marketplace
One particularly interesting wrinkle discussed this week, is the appeal of the European market. Deividas think that it is a lot less competitive, and you can essentially take what works in America and apply it to Europe which is practically ripe for the taking.
It is more difficult to break the language barrier with so many different countries, but you only need to focus on France, Italy, and Germany for instance to hit that $100 million dollars annual revenue for example.
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