Ecommerce is growing fast, and there’s plenty of reason for optimism in the space. But make no mistake: ecommerce companies are no more self-sustaining than any other type of business, online or off. And ecommerce businesses that rely on individual sales to survive are facing near-certain doom right out of the gate.
Hey guys, Tanner here. I want to talk to you a little bit about building in continuity for your business, how you can have recurring revenue in an ecommerce business. Whenever I talk about this on stage or I do a presentation or a training everybody’s always like, “Oh, my ecommerce business is different. We’re in this niche and recurring revenue doesn’t work for us,” or “we sell blank and recurring revenue doesn’t work for us.“ Well, the reality is that your business is not that unique. No business is unique in that regard. All businesses can benefit from and leverage recurring revenue, specifically in ecommerce businesses. Now, while some may lend themselves to it more, certain niches and things like that, at some level it can all be built in.
Not all data is created equal, though. There are literally thousands of things you could measure about your business, your products, your marketing, your customers, and unless you have an unlimited supply of time and money there’s no way to measure it all.
What’s up guys, Tanner Larsson here and I just wanted to talk real quick about traditional eCommerce businesses and how they are not actually sustainable. If you guys know me, you guys know I’m very big on the sustainability kick, I don’t like businesses that are here today, gone tomorrow, and that don’t have sticking power or staying power in a market.
If you are spending money on Google Adwords for your ecommerce store, you are focusing on one thing: return on investment (ROI). But it’s not as simple as money in (spent), money out (earnings).