A few years ago we were broke university students. Living in a place of Eastern Europe nobody knows - Lithuania. Fast forward a few years, we’re founders of AdKings Agency. An industry-leading boutique eCommerce growth agency responsible for one of the fastest-growing US eCommerce brands and taking it from $0.5M to $26M in a single year without any external funding. Now we’re working on helping to grow and scale a dozen other eCommerce businesses to 8 or 9-figures. Managing over $18M in paid media ad spend a year and delving deep into sophisticated eCommerce exits, investments, and acquisitions world. Our world is intense, crazy, ever-changing, and challenging. This podcast is simple. Every week we, Darius, and Justin are going to open up our & our agency lives. We’re going to share behind the scenes insights about what makes our clients' businesses grow at the speed they are growing. We’re going to share our best-learned marketing methods, channel insights, and growth hacks that took us millions of dollars to figure out. And we’re going to open up insights from our client's business development strategies from operations management to raising capital that supported this growth. Nothing held back to help you transform your business into an 8 or even 9-figure powerhouse. Are you ready to click play? - Darius Kunca & Justin Gecevicius 👉 We're releasing new episodes every Monday, Wednesday & occasionally Friday.
Episodes
Friday Jan 29, 2021
Friday Jan 29, 2021
On today’s episode of the Built to Scale eCommerce Show, we’re covering the 3 most important metrics that every eCommerce store owner should monitor. While there are many different metrics that should be evaluated within your eCommerce business, knowing the 3 most important metrics can help ensure that your business is successful for years and years to come.
On this episode:
- Important Metric 1: Profit Margin.
- Transitioning from Amazon to Shopify and how this impacts profit margins.
- The typical profit margin on Amazon.
- What profit margin should you aim for in your own eCommerce store?
- Comparing your profit margin to the cost of gods sold.
- Fulfillment, other variable costs, and why they are subject to variation.
- Why profit margin should be the first metric to examine.
- Important Metric 2: Average Order Value.
- What can cause high profit margins yet low average order values?
- The issue with a lower average order value.
- How can you generate a higher profit overall on Amazon by monitoring average order value?
- A good target for average order value.
- Bundling options and utilizing email campaigns to help with average order value.
- Important Metric 3: Shop ROAS (Return On Advertising Spend).
- Why you should use applications to track ROAS and monitor end profitability daily and weekly
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