Build My Online Store Podcast

#25: How To Build A Viral E-Commerce Business with 200,000+ Fans

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Build My Online Store Podcast

Terry Lin, eCommerce Enthusiast

Description: A show for guests to promote their eCommerce business, hear others solving similar business problems, and giving the audience valuable insights into an eCommerce operation.

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#25: How To Build A Viral E-Commerce Business with 200,000+ Fans

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How does a candles business grow to 40,000+ fans and over $1 million in revenues in their first year? Tune in to hear the story of Diamond Candles with Co-Founder Justin Winter and the tips he has for building a viral E-commerce business. Topics Discussed: 02:30 - Story of Diamond Candles 05:30 - Trial and error with manufacturing candles 06:25 - Defect rates and scaling manufacturing 08:00 - How they differ from big box candle retailers 08:30 - Does it always make sense to produce in Asia 09:55 - Differentiating from mass producers in your value proposition 10:45 - Vertical integration vs dropshipping 11:10 - They key to lowering your customer acquisition costs 13:00 - Barriers of entry and the challenge of a good idea 14:30 - How the product of Diamond Candles works 15:25 - Initial SKUs and scaling up every quarter 16:30 - Crowd-sourcing product development from customers 17:45 - Nailing down the fragrance with different demographics 20:40 - How they identified their ideal customer 23:00 - Quality thresholds of the rings in candles 24:20 - Flood of YouTube testimonial videos 26:00 - Massive social proof and a viral coefficient 27:40 - How to scale your viral coefficient with systems 28:40 - Creating an experience instead of a product 30:30 - What drives customers to spend $1,000 in purchases 33:30 - How they use Pinterest to drive traffic 35:00 - Do product widgets convert to sales on Facebook 40:30 - Customers defending your company publicly on Facebook 43:00 - Leveraging the viral coefficient with customer service 46:20 - Was there a big break, or did small wins snowballed to today 48:05 - Two lessons in finding a viral product idea 50:10 - What to do if your store only makes a few hundred a month 52:00 - How to get inspiration from the winners on the market Interested in online eCommerce master classes about SEO, marketing, and conversions? Help choose a topic by filling out a one question survey at www.buildmyonlinestore.tv  

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NMX and Nab Show, Las Vegas, April 2015