MORE 030: How Your Ecommerce Platform Can Price Strategically | Paul Kirch

09/29/21 • 31 min

MORE - The Digital Marketing Tech Tools Podcast

Starting an eCommerce store comes with plenty of challenges. From the logistical complexity to shipping products, there is perhaps no challenge as daunting as the competition. In today’s episode of the MORE podcast, Ricardo is joined by Paul Kirch, CEO of Sellience, to explain a tool that helps small eCommerce stores stay competitive in the virtual marketplace: Cartfeeder.

Paul always wanted to start his own company.

He eventually negotiated out of his sales contract and started a company doing sales and leadership consulting. However, it quickly transitioned to a marketing company because that’s where the demand was.
Paul had started a radio show that eventually morphed into a podcast, and it ended up becoming a top 10 business podcast. While it has since been retired, it provided Paul a litany of knowledge to fuel his business.
His digital marketing agency is Sellience, which focuses on marketing that drives sales, not just leads.

Operating an eCommerce business comes with many challenges.

You’re going up against major companies that dwarf every small business owner.
The problem with Shopify is if you’re operating on small margins. Setting prices either equal to or more expensive than Amazon will lead people to just go with Amazon. However, operating on small margins can be challenging since Shopify takes a portion of each transaction.
Paul created Cartfeeder, designed to give small business owners an eCommerce store that benefits them and maximizes profit.
Before Cartfeeder, the other tool or solution was just to have static pricing. And that pricing was based on traffic to the site.
Amazon uses a similar strategy (called Spiders) that tracks eCommerce pricing for similar products and will make an attempt to undercut you in price.

A quick case study: Amazon vs. diapers.com

Amazon wanted to get into the diaper space, so they approached diapers.com and asked if they wanted to sell. They refused.
Amazon started undercutting, offered free shipping, and providing other products catered towards mothers.
Diapers.com approached Walmart and tried to sell.
Amazon, over one quarter, was willing to lose 100 million in revenue to squash diapers.com. And Amazon ended up buying diapers.com.
The takeaway? Large companies have tremendous power to stay one step ahead of smaller companies. And this tool will give some of that power back to the small business.

How to get started using Cartfeeder

Shopify has changed the game for a lot of small businesses. But they take a portion of your sales to stay in business, which isn’t the best option for companies with small margins.
Go to Cartfeeder.com to check it out and receive a free audit to ensure you have the suitable systems currently in place.

Paul’s book and podcast recommendations:

He is the co-host of a room with a group called Co-Founders Lab on Clubhouse.
Getting There: A Book of Mentors by Gillian Zoe Segal

Co-Founders Voice is a podcast about to launch that brings tools, tips, and strategies for people in the early startup stage. Follow Paul on LinkedIn to know when it officially starts!

Paul always wanted to start his own company.

He eventually negotiated out of his sales contract and started a company doing sales and leadership consulting. However, it quickly transitioned to a marketing company because that’s where the demand was.
Paul had started a radio show that eventually morphed into a podcast, and it ended up becoming a top 10 business podcast. While it has since been retired, it provided Paul a litany of knowledge to fuel his business.
His digital marketing agency is Sellience, which focuses on marketing that drives sales, not just leads.

Operating an eCommerce business comes with many challenges.

You’re going up against major companies that dwarf every small business owner.
The problem with Shopify is if you’re operating on small margins. Setting prices either equal to or more expensive than Amazon will lead people to just go with Amazon. However, operating on small margins can be challenging since Shopify takes a portion of each transaction.
Paul created Cartfeeder, designed to give small business owners an eCommerce store that benefits them and maximizes profit.
Before Cartfeeder, the other tool or solution was just to have static pricing. And that pricing was based on traffic to the site.
Amazon uses a similar strategy (called Spiders) that tracks eCommerce pricing for similar products and will make an attempt to undercut you in price.

A quick case study: Amazon vs. diapers.com

Amazon wanted to get into the diaper space, so they approached diapers.com and asked if they wanted to sell. They refused.
Amazon started undercutting, offered free shipping, and providing other products catered towards mothers.
Diapers.com approached Walmart and tried to sell.
Amazon, over one quarter, was willing to lose 100 million in revenue to squash diapers.com. And Amazon ended up buying diapers.com.
The takeaway? Large companies have tremendous power to stay one step ahead of smaller companies. And this tool will give some of that power back to the small business.

How to get started using Cartfeeder

Shopify has changed the game for a lot of small businesses. But they take a portion of your sales to stay in business, which isn’t the best option for companies with small margins.
Go to Cartfeeder.com to check it out and receive a free audit to ensure you have the suitable systems currently in place.

Paul’s book and podcast recommendations:

He is the co-host of a room with a group called Co-Founders Lab on Clubhouse.
Getting There: A Book of Mentors by Gillian Zoe Segal

Co-Founders Voice is a podcast about to launch that brings tools, tips, and strategies for people in the early startup stage. Follow Paul on LinkedIn to know when it officially starts!

Previous Episode

MORE 029: Grow and Scale Your Business with Videos | Ron Green

Amid the burgeoning world of digital marketing and online media, one element has blossomed into a powerhouse: video. Video is the most consumed type of media and continues to grow and expand. Today on the MORE podcast, Ricardo is joined by video strategist Ron Green to learn how anyone can start creating video content that drives success.

Video is extremely powerful.

People prefer them over still images and text, and video tells a story that compels people to watch what that video is portraying.

It is an effective tool to drive clients to your product and service.

The biggest myth in the video world: if you get one great video to be launched to success.

You should use multiple videos that work together like a machine that takes a prospective client or customer through a journey that ends with a purchase of your product or service.

Ron’s most effective types of videos for small businesses:

The promo video: About 40 seconds to one minute long, the promo video’s sole purpose is to drive traffic to your website.
The brand message video: About two minutes in length, this is an in-depth video on your website that explains who you are and what your business does.
The testimonial video gives someone’s story of using your product or service to legitimize and establish trust for potential customers.

Video can be used to supplement just about any other type of marketing.

Add video links into your drip campaigns and social media to see increased engagement and reactions to the messaging you’re sending out.
Video might seem intimidating for people. But just like anything else, all it takes is practice and patience to grow the skill.
A videographer captures footage, while a video strategist captures footage, acts as a director, and provides a strategy for video dissemination to obtain ROI.

What does he do to stay in business?

He stays accessible to people—networking and meeting people more intelligent than yourself leads to success.
Ron’s parting words: Everybody has a gift. Whether you’ve found it or not, take the time to look into your life, find your gift, and use it to serve the world.

Ron’s book and Clubhouse recommendations:

Rich Dad, Poor Dad by Robert Kiyosaki
Check out The Real Deal Video Strategist Club on Clubhouse

Next Episode

MORE 031: Two things that bring most success digitally | Bill Durrant

Not all marketing tools have to be cutting-edge technology or platforms to be important. Sometimes all you need is a framework to shift your perspective to discover growth and increased revenue. On today’s episode of the MORE podcast, Ricardo is joined by the president and co-founder of Exverus Media, Bill Durrant, to discuss his book Digital Stone Age, which details what it takes to be successful in the digital world.

The Inception of the Digital Stone Age:

Over the last ten years of meeting with marketers, his team realized a few mindsets pervaded marketing thought.
People were either digitally focused, pushing dollars to specific paid tactics, or traditionalists, focusing only with tv, radio, and mass communication platforms.
Research and experience say it’s a medium between the two that brings the most success, which Bill talks about in his book.

The book became a tool:

How do you get a business or a brand to think a certain way and take away learnings they can use to grow their business?
Bill’s book is high-value for anyone thinking about or working in marketing. (Especially if your business is already seven figures.)
If you’re running an operation or a business and want to understand the appropriate mindset, this book is for you.

Marketing is more than running ads on Facebook or Google.

It’s how you can get involved in showing your business’s applications in the real world.
Digital media is less trustworthy than real-world interaction, but digital media in conjunction with traditional exposure is compelling in reminding people and driving them through the funnel.
Don’t stick rigidly to something never proven successful to begin with.

Marketing is not just a cost or expense; it’s an investment.

Think of it like dating. If you walk up to someone you’re interested in and directly ask them out without saying anything else, would you be successful?
Conversely, having a conversation, letting them know and understand you, and then asking them out would be far more effective.

Bill’s practical marketing takeaways:

The marketing funnel is the first thing to familiarize yourself with; it’s a great way to talk with consumers and B2B buyers.
The funnel isn’t just a theory, it’s a language and timeline marketers today use to speak.
Determine how your business fits into and implements that funnel, and you will be better able to track and develop growth.
When it comes to service, it’s always about building stronger relationships for those whom you’re serving.

Bill’s book and podcast recommendations: