In this episode, Mr Harshal Shah is in discussion with Brett Fallarino, who is an ecommerce specialist. He is here to share his experiences, lessons, and success mantras for running an ecommerce store. We hope you grab the best one for your business.
00:10 : The host begins with a question, “How did you begin your ecommerce journey?”
00:25 : Brett says that it has been 4 years in the industry, where earlier, he worked in a 9 to 5 job schedule. He wanted to get more money and always knew something was out there, like he wanted to know the next thing in the industry.
01:04 : He came across a Shopify e-book that gave him a walkthrough to run an ecommerce store. After that, he built a speaker nest store to sell speakers, which eventually failed as there were no sales.
This was his entry into the ecommerce world.
02:00 : He then learned through YouTube videos and courses. There are tons of things to learn and do with the right resources.
02:33 : Made another store named Lid Kings that sold Donald Trump Mega hats but did not have any copyright. The investment was small in ads and got heavy returns. The main aim was influencer marketing and Instagram pages. Three days later got a call from Donald Trump’s ad campaign to shut the store.
04:13 : The host asks, “Do you have any technical knowledge before starting the store?”
04:30 : He was not good at studies but interested and hungry for knowledge. He graduated, but it would be better if he dropped out early and invested in the ecommerce journey.
06:00 : The host wants to know the ups and downs of running an ecommerce business. Do you have any downtime?
06:21 : A lot of downtime in a business is actually a learning experience. The small and big losses are used to build up the business. Like the mega hat business making great success, it was shut down just in three days.
08:00 : It was the wrong mentality to get rich quickly. He started Facebook ads, influencer marketing, and more which didn’t make any success. The wrong idea of Facebook is to bring you great returns just by adding products.
Getting creatives, strategy, and emotional attachment to the customers is important.
09:00 : The host believes the business’s success needs to combine the right emotions, creativity, and strategies.
09:40 : He started a new ecommerce business after proper mentorship and courses. The company was running great until Covid-19 rolled in.
The only mistake was not bulk products, leading to shipping days from 15 to 70 days in some cases. He suggested that ecommerce businesses procure inventory and have a structured system to avoid any uncertainty.
11:30 : The host has another question for the guest, “What is the biggest secret that has worked wonders for your business?”
11:40 : Guest provides suggestions for branding, value to customers and the world, customer engagement, strong customer support, social media posts, diversification, and structure.
13:15 : The host has another question: “What are the platform recommendations for ad campaigns?”
14:00 : Influencer marketing is very important to generate content and word-of-mouth. He praises TikTok, which has great KPIs and relevance that is great for growing a business online. The platform has great customer support as it gives piece-by-piece information and is interactive.
17:00 : Another question for the guest, “Which is the highest-revenue generating strategy in ecommerce?”
17:21 : The Facebook strategy, while launching a product,
- Assemble one ad campaign with 10 different ad sets that target a diverse audience.
- Sell in different countries.
- Target Instagram and Facebook feeds.
- Hassle-free buying
- Different creatives for an ad
21:20 : The host asks, “What will you roll back if you go back in time?”
21:36 : The best advice is that never look at it, get rich and Not care about customers. Even after selling well, sometimes he has to handle great disputes, chargebacks, and refunds. It is important:
- Take customer experience seriously and
- Learn from a good mentor or role model
- Ask bad questions
- Treat customers like family
24:40 : The last question, “What advice would you like to give a beginner in ecommerce?”
25:00 : There were a few things to note:
- Get a clear idea of the subject
- Learn from millionaires and billionaires
- Have the right mindset and strategies
- Watch limited videos and courses
- Understand the process of setting up a store and branding
- Watch and execute by putting your efforts.
Both speakers agree that it is okay to have failures to learn and succeed. The host tells you to add filters while grasping information and implementing the right ones that meet your business requirements. It will take time for the business to grow, which expects you to try again and again.
The ecommerce journey is always growing, and it is your chance to make an impact in the market.