Its E-commerce Funnel Generated $70 Million Last Year - Latest Global News

Its E-commerce Funnel Generated $70 Million Last Year

I recently had the pleasure of sitting down with Ezra Firestone, a man who is certainly no stranger to the world of successful e-commerce startups.

Ezra Firestone’s companies generated $70 million in revenue last year, but he says he’s just “a guy.”

I’ve picked out some of my absolute favorite gems and lessons from our conversation that you can use to create a revenue-generating eCommerce funnel.

Who is Ezra Firestone?

Ezra Firestone opened his first e-commerce store in 2006, selling Marge Simpson wigs. Despite being a high school dropout with no experience or education, he was determined to get his business up and running. Two decades later, he invested in and co-founded five successful companies, including Smart Marketer, an e-commerce education platform that helps entrepreneurs run businesses that generate over $20 million in annual revenue.

Firestone is also the co-founder of Zipify Apps, a software development company that builds Shopify apps, and an investor in the e-commerce brands oVertone, Boom and Naväge® Nasal Care.

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5 Lessons from Ezra Firestone on Building a Successful Ecommerce Funnel

Lesson 1: Keep the best promise

While many focus on bringing the best product to market in the belief that it will help them become the preferred brand for this industry, Firestone sees things a little differently.

“Everyone tells you that the best product on the market wins. That is not true. The best promise wins in the market,” says Firestone. explained.

“The best promise wins in the market.”

But Firestone also recognizes that few founders or entrepreneurs actually know how to make a big promise. In today’s marketing world, the promise starts with an advertisement or a specific piece of content.

“You need a very compelling video. You only need a few [steps] to make a sale,” Firestone says. “The first is that you have to be able to grab someone’s attention and let them know that you exist.”

This video can be a customer’s testimonial or a paid content creator or influencer talking about your product. You might even have a member of your family talking about your product.

The most important thing is that you need at least one really good video asset to make a great product promise.

Don’t skip: How do you bring a product to market?

Lesson 2: Create a clear landing page

Firestone’s second eCommerce funnel lesson is that every aspiring eCommerce entrepreneur needs a clear landing page.

This landing page is the central CTA on social media channels and other outreach campaigns and sits at the top of your ecommerce funnel. But Firestone believes many are doing this wrong.

“Most people in e-commerce get this wrong and take a few pictures and a few bullet points and that’s it,” says Firestone. “However, you need to create a traditional direct response sales page that is designed to address any objections to purchasing. [I do that with] All my eCommerce product pages. Essentially, these are long sales pages with videos, stories, content and everything.”

“You need to create a traditional direct response sales page that is designed to address any objections to purchasing.”

Lesson 3: Implement a consistent follow-up campaign

Another common mistake young entrepreneurs make is not setting up a detailed and solid follow-up campaign for their eCommerce funnel. Many spend too much time and money trying to attract their target customers to their website, but few think about follow-up communications for those who don’t convert immediately.

“A lot of people don’t take action right away, so you have to follow up on them. There you record the email address and send them emails. “So we’re incentivized to get their email address when they’re on our website,” says Firestone. “But when we contact them, it could literally be the same video ad on the same landing page. You look at a lot of eight- and nine-figure funnels and it’s a good video and a good landing page.”

Firestone even goes so far as to say that you’ll be a step ahead of most founders, especially if you keep things simple.

“Most people try to create a million videos and 20 landing pages and focus on a million products. Instead, focus everything on one product. You want to sell one thing and make sure all your videos are about that.”

Lesson 4: Have two products from the start

While many founders ask when they should think about launching a second product, Firestone takes a different approach.

“My position is that ideally you have two products from the start,” he explains. “One item that you focus on selling and do all your marketing on, and another item that you upsell or cross-sell on the product page, in the cart, and after purchase.”

“My position is that ideally you have two products from the start.”

Firestone believes that a create cart item is an important first step in your eCommerce funnel to increase average order value.

“If you do good marketing, you’ll probably get a 20% adoption rate for that cart builder if it’s relevant. So I want to start with a cross-selling product that is already integrated.

Lesson 5: The more products you have, the more merchandising you can do

It’s no secret that e-commerce merchandising is more important now than ever.

“Merchandising is the way you bundle, the way you put your gear together, the way you discount,” says Firestone. “Buy one get one. Buy this to get a free gift with your order. Buy this and get the other half off live shopping and so on.”

“Merchandising is the way you bundle, the way you put your gear together, the way you discount.”

Because of this, Firestone admits that he often works behind the scenes with new business owners on product development because of the benefits of successful merchandising. And then you know your ecommerce funnel is in full swing.

Keep learning: 11+ Ecommerce Marketing Strategies to Increase Your Online Sales

Build your dream eCommerce business with confidence

Be sure to check out the full interview here to learn more about how Firestone became so successful in e-commerce, and don’t forget to sign up for Foundr+ today for just $1.

In just seven days, you’ll have everything you need to start and scale a life-changing brand and achieve your eCommerce dreams.

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