BI 351: How Nutribullet Achieved 134% YOY Revenue Increase (Ft Jason Magee)

On the Bright Ideas eCommerce podcast, Trent Dyrsmid interviews today's most successful eCommerce, Agency, and SaaS founders and gets them to share all their most effective strategies and tactics for growth so you can quickly figure what you need to implement in your business today to get ahead of your competition. If you are looking for proven methods to scale up your eCommerce business, increase efficiency, improve your systems, and delegate more, this is the podcast for you. eCommerce, automation, outsourcing, standard operating procedures, workflow management, search engine optimization, social media, podcasting, Facebook, Twitter, YouTube.

Episode Highlights

[02:54] Scaling Marketplaces with Jason Magee

Jason is a Senior Director of Sales and Business Development at Teikametrics.
His job involves helping retailers scale on the most valuable marketplaces such as Amazon.
Incrementality answers the question as to whether investing money in advertising isn’t moving the needle in top sales.
According to Jason, incrementality is what Nutribullet wanted.
Once Jason helped Nutribullet rebuild its campaign, the company was able to reach a 134% increase in revenue.

[06:00] Beginning with Advertising

According to Jason, if you like burning money, advertise right away.
Before going into advertising, the first thing you have to do is to understand the most critical business metrics such as top-line sales, profitability at a company level, and advertising performance.
In addition to business metrics, you also need to understand product metrics. These include pre- and post-advertising profitability, product goals based on its lifecycle, and how people buy your products.

[08:46] Listing Optimization and Best Practices for Images

A product should convince a customer to purchase based on high-quality images alone.
The first best practice you have to observe is that the image must be on a white background. Images also need to highlight the product’s details.
You can also optimize your listing with a video. Videos should show the actual components of the product.
Videos and images should tell the story of your products.

[13:04] What Comes After Listing Optimization

The most fundamental way to advertise is through sponsored product advertising.
It is search-based, wherein a keyword would ensure that your product shows up at the customer’s search.
This allows you to leverage advertising even if your product does not rank well organically.
Sponsored product advertising is a blend of automatic and manual campaigns.

[14:44] Segmenting Your Campaigns

In addition to your own brand terms, you also need to use competitor and generic terms.
You need a strategy for each segment.
Identify where your audience is in their buyer’s journey.
Learn more by tuning in to the podcast!

[17:44] Biggest Advertising Mistakes

One of the biggest mistakes is advertising without considering your goals and margins.
It is all about context because if you don’t know anything about the product, how could you effectively advertise it?

[19:10] All About Teikametrics and Flywheel

Looking at the evolution of Teikametrics, it was one of the first API partners of Amazon. They were very ad-focused.
With Flywheel, they’re not only bringing in the advertising component in the app, but they are also incorporating inventory.
Another exciting thing about Flywheel is the ability to understand market intelligence.
Join Flowster’s Teikametrics webinar on February 11!