Categories
Shopify

How to Find Product Market Fit [Video]

Finding right products is important. Products that your audience wants, and that will sell. In this video, we’ll give tips on how to find product market fit.– FREE TRIAL –Build your business using a 14 day FREE trial of Shopify , one platform with all the ecommerce features you need to start, run, and grow your business. https://bit.ly/3PPIMn2– SUBSCRIBE –Don’t forget to subscribe to Learn With Shopify to get the knowledge you need to start and grow your online business. https://bit.ly/3wUhswr––––––––––––––––––––––––––––––––––––––––––––Doing your due diligence on what to sell helps ensure your products/services resonate with your target customers. What products or services best meet their needs? What value will a particular product provide to your customers? These are just a few of the integral questions to ask during the product selection process.Doing a little homework can make the difference between healthy revenue and unsold products collecting dust on your shelves. And part of that homework centers on finding a product that works well within your niche market. This is called finding a product-market fit. And the right product-market fit is crucial for both online and brick-and-mortar retailers alike.But what is product-market fit, and how do you measure it? Don’t worry — we’re here to help you navigate this concept and make it work for your retail business. This is your guide to product market fit explained.Here is what we’ll cover in this video: 00:00 Introduction00:44 What is Product Market Fit?01:30 How to find the Product Market Fit02:26 Identifying a Market Opportunity04:25 Why Product Market Fit Matters05:22 How to Measure Product Market Fit– RESOURCES — What to Sell: How to Find a Great Product-Market Fit for Your Brand https://bit.ly/3lOJQdj Finding Product Market Fit: Why it Matters and How to Grow Profitably https://bit.ly/3MW0ZNW

Categories
Ecommerce

Starting a Business From a Failed Startup with Matthew Berk – Honest Ecommerce Ep. 174 [Video]

Berk started his career as a software engineer and considers himself a product-focused builder. He is the creator of the first local search engine and is the author of a wide range of patents on everything from VoIP to data mining. He’s an equal-opportunity coffee drinker but is most fond of fresh crop Geishas from Colombia. As the co-founder and chief executive officer of Bean Box, a global marketplace for specialty coffees, coffee subscriptions, and coffee gifts, Matthew Berk is responsible for the development, growth, and vision of the brand. In This Conversation We Discuss: [00:00] Intro[01:12] How Matthew conceptualized Bean Box[04:19] The parallels to Lean Startup principles[05:08]Try things even if you get it wrong [07:11] Doing Ecom is trying to sell 2 products[09:26] Focus on getting the products into people’s hands[10:59] 2 areas where you could easily get lost in[11:43] How to avoid “price spiraling”[16:14] Competitor comparison can be pointless[17:54] Sponsor: Electric Eye https://electriceye.io[18:14] Sponsor: Mesa https://apps.shopify.com/mesa[18:58] Sponsor: Gorgias https://gorgias.grsm.io/honest[20:24] Sponsor: Rewind https:/rewind.com/honestecommerce[20:55] Sponsor: Klaviyo http://klaviyo.com/honest[21:42] The ratio between capital raised and revenue generated[22:47] Investing in people is a rocket fuel for business[24:15] Capital can obfuscate your problems[27:05] The entrepreneur’s job is prioritizing problems[28:31] You don’t have to grow if you don’t want to[32:09] When should you go custom[37:10] Would Bean Box’s strategy 8 yrs ago work today?[39:02] Where to find Bean BoxResources:Subscribe to Honest Ecommerce on Youtube https://www.youtube.com/c/HonestEcommerce?sub_confirmation=1Connect with Matthew https://www.linkedin.com/in/matthewberkShare the joy of small-batch, locally-roasted beans with coffee lovers around the country https://beanbox.com/Read The Lean Startup http://theleanstartup.com/bookScale your business with https://electriceye.io/Download Mesa at the Shopify App Store https://apps.shopify.com/mesaLevel up your customer support https://gorgias.grsm.io/honestRespond to any of Rewind’s welcome emails and mention HONEST ECOMMERCE to get 1 month free http://rewind.io/honestGet started with a free account at http://klaviyo.com/honestIf you’re enjoying the show, we’d love it if you left Honest Ecommerce a review on Apple Podcasts. It makes a huge impact on the success of the podcast, and we love reading every one of your reviews!Review Link: http://getpodcast.reviews/id/1447700156Honest Ecommerce is a weekly podcast, community & educational resource providing online store owners with honest, actionable advice to increase their sales and grow their business. Visit http://honestecommerce.co/ for more information.If you like our videos, consider subscribing & joining our FREE Facebook grouphttps://www.facebook.com/groups/honestecommerce/Or get all our content sent directly to your inbox by subscribing to our newsletter: https://honestecommerce.co/pages/subscribe

Categories
Digital Marketing Ecommerce

Product Market Fit with Scott Cunningham [Video]

Scott Cunningham, CEO of Social Lite and Co-Founder of Merchant Mastery, has worked with thousands of ecommerce stores. The one thing he hears ALL. The. Time? “Facebook doesn’t work for my business.”If you’ve said that about your ecommerce store, listen in as Scott shares what’s missing and how you can overcome that hurdle and start selling.In this video:Start Here to Sell More: 00:22-00:30 What If I’m Selling a Brand New Product? 00:51-1:02The Formula for Winning in Ecommerce: 1:21-1:34Learn more about ecommerce:The Future of Ecommerce Marketing Is Now ➡️ https://www.digitalmarketer.com/blog/future-of-ecommerce-marketing/Use This Framework to Build Ads That Move Product ➡️ https://www.digitalmarketer.com/blog/offer-harmonics-scott-cunningham/NEW for 2022! Become an Ecommerce Marketing Master ➡️ https://www.digitalmarketer.com/certifications/ecommerce-marketing-mastery/

Categories
Ecommerce

Ask Your Competitors for Advice with Will Nitze – Honest Ecommerce Ep. 173 [Video]

Will Nitze is the Founder & CEO of IQBAR, a Boston-based brain and body nutrition company. After studying psychology as an undergrad at Harvard, Will became fascinated with the human brain and how it functions. Then, in his mid-20’s he experienced chronic failings with his own brain – including daily headaches – that he traced back to his high-carb diet. By eliminating staples like bread and pasta from his regimen, he staged an astounding cognitive recovery!In 2017, after failing to identify ready-to-eat products that matched his new regimen, Will began tinkering in his apartment kitchen on a protein bar optimized for brain and body nutrition. After countless iterations, he launched a successful crowdfunding campaign and incorporated IQBAR. While the product line has evolved over the years, Will’s mission of empowering “doers” through better nutrition has never wavered. IQBARs are now sold in 7,000 US locations and on all major Ecommerce platforms. In This Conversation We Discuss: [00:00] Intro[01:09] What are IQBAR products[01:52] Will’s realization about food[05:02] Before formulation and product development[07:21] Get valuable info from competing founders[09:47] What initially worked won’t always work[11:14] Other benefits to talking to competitors[12:51] The challenges in moving to the next step[16:09] Persevere because bad things will happen[17:45] Sponsor: Electric Eye https://electriceye.io/[18:05] Sponsor: Mesa https://apps.shopify.com/mesa[18:49] Sponsor: Gorgias https://gorgias.grsm.io/honest[20:16] Sponsor: BeProfit https://beprofit.co/[21:47] Sponsor: Klaviyo http://klaviyo.com/honest[22:34] IQBAR’s go-to-market strategy[25:57] From crowdfunding to D2C[26:29] Doing things that don’t scale[28:43] The insane benefits of Amazon[30:31] Selling on Amazon is super contextual[31:21] When to consider D2C-first/D2C only model[32:42] Luxury products vs commodity products on Amazon[33:16] Providing a specific shopping experience[34:58] All platforms have risk, you just need to choose[36:39] The true importance of your product[37:34] Product quality is a multiplier[38:19] Scaling with an MVP is a recipe for disaster[38:49] Where to find WillResources:Subscribe to Honest Ecommerce on Youtube https://www.youtube.com/c/HonestEcommerce?sub_confirmation=1Connect with Will https://www.linkedin.com/in/will-nitze/Plant based protein bars for your brain and body https://www.eatiqbar.com/Listen to the Y Combinator podcast https://www.ycombinator.com/blog/tag/podcast/Scale your business with https://electriceye.io/Download Mesa at the Shopify App Store https://apps.shopify.com/mesaLevel up your customer support https://gorgias.grsm.io/honestVisit https://beprofit.co/ and use code HONEST15 to get an exclusive 15% off any plan for the lifetime of your planGet started with a free account at http://klaviyo.com/honestIf you’re enjoying the show, we’d love it if you left Honest Ecommerce a review on Apple Podcasts. It makes a huge impact on the success of the podcast, and we love reading every one of your reviews!Review Link: http://getpodcast.reviews/id/1447700156Honest Ecommerce is a weekly podcast, community & educational resource providing online store owners with honest, actionable advice to increase their sales and grow their business. Visit http://honestecommerce.co/ for more information.If you like our videos, consider subscribing & joining our FREE Facebook grouphttps://www.facebook.com/groups/honestecommerce/Or get all our content sent directly to your inbox by subscribing to our newsletter: https://honestecommerce.co/pages/subscribe