· By Jordan West
Ep 430: The Current State of eCommerce With Taylor Holiday, Common Thread Collective
We’re going through the winter of eCommerce and brands everywhere are struggling. Nevertheless, brands willing to figure out how to bootstrap through hard times are finding opportunities to scale.
In this episode, Jordan West interviews Taylor Holiday of Common Thread Collective. They talk about the state of eCommerce right now, the attributes of brands that are succeeding right now, and the surprising best channel performance.
Listen and learn in this episode!
KEY TAKEAWAYS FROM THIS EPISODE
- Service providers’ number one job is education.
- Even if you have a brand reputation, there's still the reality that trust = consistency x time. You have to spend more time educating why you're doing what you're doing.
- We're in a tunnel, there's a light at the end, but we've got some challenging times ahead. At the end of that, there's going to be more resiliency, more innovation, and better businesses.
- Moving way too slowly and conservatively when you can capture a ton more market value can be your biggest mistake.
- There's still nothing close to Meta ads. It’s still so disproportionately the best primary value capture opportunity for every business.
- Google is always going to be the king of demand capture.
- Diversification is the siren's song of death. There is an opportunity cost to every dollar that you take out of Facebook and put into an alternative channel. That opportunity cost is damaging.
- The fundamental inhibitor to most businesses' growth is the lack of financial understanding.
Recommended App:
Statlas.io https://statlas.io/
Recommended Book:
Competitive Strategy by Michael Porter
https://www.amazon.com/Competitive-Strategy-Techniques-Industries-Competitors/dp/0684841487
Today’s Guest:
Taylor Holiday is an athlete and is now the CEO of Common Thread Collective. They are an eCommerce growth agency that helps brands that have a clear sense of who they are, do a great job in building their brands, and are looking for growth strategy.
Connect and learn more about Taylor and Common Thread Collective here:
Website: https://www.commonthreadco.com
LinkedIn: https://www.linkedin.com/in/taylor-holiday-a169b322
Twitter: https://www.twitter.com/taylorholiday
Get 5 Offers for 2 Products (10 in total) along with 10 highly engaging tried and true creatives, 30 captivating headlines, descriptions, and ad texts sent to you for only $99. Go to https://www.upgrowthcommerce.com/offer and order now - this offer is only available for a limited time.
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In this episode's sponsor is Revenued - is a financial technology company that provides businesses with revenue-based financing solutions. Instead of relying on credit scores or collateral, Revenued offers funding based on a company's revenue. This allows businesses to access capital quickly and repay it as they generate income.
Learn more here: Revenued