In this episode of After Hours Ecommerce, Sean Clancy and Sean Fisher discuss the essential preparations for the upcoming peak season, particularly focusing on Black Friday. They emphasise the importance of crafting the right offers, optimising advertising strategies, and enhancing customer service to ensure a successful sales period. The conversation also covers the significance of email marketing, reducing friction in the customer journey, and planning for the holiday season beyond Black Friday. The hosts provide actionable insights and strategies for e-commerce brands to maximize their performance during this critical time.
In this episode, Sean and Sean discuss the critical steps to take after acquiring a business, focusing on the first 90 days. They emphasise the importance of understanding team dynamics, securing necessary access to business assets, and establishing a solid foundation for growth. The conversation covers building relationships with staff, addressing legacy technology challenges, and operational considerations for new owners. The hosts provide practical advice for navigating change and ensuring long-term success in business operations.
In this episode, Sean Fisher and Sean C discuss the concept of operational investing, focusing on the considerations and strategies for acquiring and transforming businesses. They explore the importance of understanding one's capabilities, evaluating business opportunities, managing inventory, and the significance of change management in acquisitions. The conversation emphasises the need for thorough due diligence and the identification of complementary products to enhance business value.takeaways
Checklist:
Define your strategic goal - are you acquiring to build and hold or to scale and flip? Develop your strategic plan accordingly
Define your target acquisition
What revenue band is “good” for you?
How much do you have to spend/how can you finance the investment?
Target vertical based on your knowledge or experience base - what do you know well enough to do it well?
What problems do you “want” the business to have that you are capable of solving to unlock value?
Understand the business dependencies for success
Key personnel risk - develop a plan to mitigate this - cross training/documenting procedures etc
Platform risk
Supply chain risk
IP/exclusivity
Pre-define your “transformation”
What do I need to change to create the value I think I can?
How much will it cost? Technology, time, content creation, product creation and R&D, staff training.
What skills/support will I need?
How long will it take?
Cost It | Timeline It | Double it
Is it still “worth it?”
Get the expertise you need
Leverage the expertise you need during and before the acquisition, DD and transformation - amateur mistakes are expensive ones
Leverage an M&A team or review financials with your accountant at the very least
If non technical, bring in the right expertise for ecommerce, marketing, warehouse operations, finance, HR Law.
Dot your i’s, cross your t’s
When does your lease expire?
If wholesaling, review your supplier agreements
Check your supplier contracts
Check your staff contracts
Check your exclusive licences
Review your patent expiry dates
Review any debt structures
In this episode, Sean Fisher and Sean C from Swanky discuss strategies for Black Friday and the holiday shopping season. They explore the trend of launching campaigns earlier to avoid high costs, the importance of messaging for gifting during the holiday season, and how to protect margins while still attracting customers. The conversation also covers stock management, order fulfilment, and effective post-purchase strategies to enhance customer retention and increase average order value.
Takeaways
In this conversation, Sean Fisher and Sean Clanchy delve into the concept of Customer Data Platforms (CDPs), discussing their importance in integrating customer data from various sources to create a unified view of the customer. They explore how CDPs enable businesses to personalise marketing efforts, improve customer experiences, and drive revenue growth.
The discussion also covers the challenges of implementing a CDP, strategies for effective data collection, and the selection of the right CDP for different business needs. The conversation emphasises the actionable insights that can be derived from customer data and the necessity of being intentional in data strategy.
In this episode of After Hours Ecommerce, Sean Clanchy and Sean Fisher delve into the concept of Voice of Customer (VOC) and its critical role in shaping brand strategies.
They discuss how VOC encompasses customer feedback, its importance beyond mere metrics, and how it can drive product development, marketing strategies, and overall business growth. The conversation highlights practical applications of VOC, including leveraging customer insights for advertising, product innovation, and enhancing customer experience.
The hosts also share real-world case studies demonstrating the successful implementation of VOC strategies, emphasising the need for businesses to listen to their customers to thrive in a competitive market.
In this episode, Sean C discusses the importance of building a fit-for-purpose tech stack and the process of determining the needs of a business. He emphasizes the need to consider team capabilities and the interconnectivity of different systems. Composability is highlighted as a key factor in building a scalable tech stack, allowing for flexibility and the ability to interchange different platforms. The conversation also touches on the benefits of using Shopify as a platform, including cost reduction, lower development costs, and performance. The concept of composability is further explored in the context of expanding into new markets and sharing customer information between brands within a brand group. The episode concludes with a discussion on the importance of composability in adapting to changing markets and requirements.
In this episode, Sean Clanchy and Sean Fisher discuss marketing attribution and understanding commercials. They explore the different understandings of marketing attribution and how different platforms attribute sales. They emphasise the importance of understanding the context behind the data that platforms display and how it can help optimise campaigns. They also discuss the role of brand campaigns and the importance of high-quality, consistent creative content.
The key takeaways are:
1) Understand the context behind each campaign and how platforms attribute sales,
2) Focus on acquisition of new customers and show value through new business generation, and
3) Have a broad understanding of different marketing channels and their role in the overall business.
