Building Your E-commerce Value Proposition is about recognizing successful retail's fundamental pillars. Whether in the physical or digital realm, having a good product, a great price, understanding the trends, and understanding your customers are the core of your business success.
Your customers are the bedrock upon which your business stands, and asking the right questions will help you to draw out their needs, pain points, or challenges to craft a solution that resonates with them at the deepest level and get your messaging right.
In addition to value proposition, the adept use of technology sets thriving e-commerce businesses apart. Leveraging the right technological tools and strategies is paramount to gaining a competitive edge in the evolving digital market.
Join the conversation with Liam Patterson as he shares how to build great products in e-commerce, stay on top of your customers' minds, prospect for the right customers, and move from startup to scale.
Liam is the CEO and Co-Founder of Bidnamic, a marketing technology platform that helps retailers unlock the full potential of Google Shopping out of Leeds in the UK. He started his first business at age 14 and ran several successful e-commerce ventures before co-founding Bidnamic. Liam is a knowledgeable speaker on topics including e-commerce, digital marketing, advertising, retail, tech, business, startups, and Google Shopping, and he speaks at global e-commerce events.
Key Highlights From The Show
[01:37] Intro and a quick bio of the guest, Liam Patterson
[02:53] What inspired Liam to start his first business at age 14
[06:21] The trends Liam has seen in the ecommerce over the last 20 years
[09:39] The two sides of ecommerce and the rules that will never change
[13:40] How Liam makes sure that he is on top of the customers’ mind
[17:41] What attracted Liam to get into the Google shopping niche
[21:50] Surrounding yourself with the right people
[23:00] Value preposition: What keeps Liam’s customers coming to him
[26:36] How prospecting for the right customers reduces your cost and increases your wins
[31:07] Liam's benchmarking strategy that they use to qualify clients
[33:11] What Liam has learned about himself as an entrepreneur
[37:21] Liam’s biggest bottleneck that he had to overcome in his business
[40:07] The journey from a bootcamp startup to becoming a scale-up
[45:04] Liam’s one recommendation to entrepreneurs, “trust your instinct.”
[46:17] How to reach out, connect, or learn more about Liam
[46:49] Ending the show
· Technology is not the end; it is just the means to an end
· The great question reveals the direction and true problem the business wants to have solved.
· Don’t just do something; do it to improve it; don’t just execute the same thing; execute and stop to reflect on how you can do it better.
· Naturally, we are drawn to people who think, communicate and have attitudes similar to us.
· Pitching your product or solution to someone who's not a good fit will have a much lower win rate, not resonate often, and when they close, they will do it for less.
Connect With Liam Patterson
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