Các Shark Tank, Shark Tank Việt Nam Mùa 4 Tập 1 Có Gì Hấp Dẫn
eCommerce has made it easier than ever for entrepreneurs lớn reach national and even global audiences. That"s why so many Shark Tank candidates have chosen lớn focusthere first. After 10 seasons, hundreds of companieshave come through the tankvà, collectively, they"ve taught us a lot about what it takes to lớn succeed.
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Here are five top Shark Tank eCommerce lessons that can help you lớn grow your business...
1. Consider a DTC-First Approach
Historically, you couldn"t scale a br& without the help of big retailers like Walmart, Best Buy, và Kroger. With those big retail relationships, though, came some serious costs including inventory carrying costs, retailer và distributor margins, slotting allowances, sales teams, và more. Today the picture is very different - many of the brands that show up on Shark Tank have sầu achievedlarge-scale results by relying onDirect-to-Consumer (DTC) alone.
Tower Paddleboards is a great example. Founder Stephan Aarstol, who was already an eCommerce veteran when he started this business, decided that a DTC model would allow him lớn offer exceptional value not found in other stores."We sell products for about half of what you get at retail," Aarstol said.So far, the results show that it"s working - beforeShark Tank,the company had sold about$100,000 of hàng hóa. Since then, it"s made more than $30 million!
Bombas is another brilliant example of DTC-first and one of Shark Tank"s biggest successes ever. The company"s experience with Shark Tank and investor Daymond John caused them khổng lồ de-prioritize traditional retail in favor of their own direct strategy. “We had early ambitions of & thoughts of going into lớn retail,” co-founder David Heath said. ”
2. Know (And Use) Your Numbers
Nothing will torpevì a Shark Tank presentation faster than a founder"s fumbling with basic business statistics.Per Shark Kevin O"Leary“You have sầu khổng lồ know your numbers. How big is the market? How fast is it growing? How many competitors are there? What’s the breakeven analysis?”
The founders ofSolemates, Monica Ferguson và Becca Brown, both came in already understanding the importance of a good business case. They worked together at Goldman Sachs before coming into the tank with their invention which makes walking in high heels an easier & safer task. Although they faced challenges lớn their valuation by several of the sharks, the partners had strong comm& of their revenue, margins, & distribution stats. They ended up winning a khuyến mãi with Robert Herjavec for a $500k equity investment at a $2.5M valuation.
The good news for eCommerce companies is that you have access khổng lồ all the data you need và then some. The triông chồng is knowing how lớn use that data effectively to lớn drive sầu action. To make all of your data digestible, consolidated dashboards lượt thích Databox can be a huge help. They combine information from multiple sources (Shopify, Facebook, Google Analytics, Quickbooks, etc.) inlớn dynamic reports that your entire organization caneasily interpret.
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3. Focus on Your Acquisition Cost / Lifetime Value
Not too many companies get to lớn appear twice on Shark Tank -Eđến Valley Meatsis one of the rare exceptions. In Season 4, founder Dave sầu Alwanlost the deal because, in large part, he didn"t know his"customer acquisition cost." Things went downhill from there but fortunately, he got a second chance. In Season 6, the founder came baông xã to the showwith a much better handle on his stats & won$150k equity investmentby Mark Cuban.
While your eCommerce business will require you khổng lồ traông xã a lot of different stats, Customer Acquisition Cost (CAC) và Customer Lifetime Value (CLV) should be at the very top of your menu. The first is a measure of your kinh doanh efficiency while the second largely speaks to your ability lớn retain loyal buyers.
A good CAC means that your truyền thông media spkết thúc is efficient (usually measuredusing cost per click) và that your site isdelivering strong purchase conversion rates.A good CLV means that you"re getting a high average order value (AOV) và that your hàng hóa unique and marketing are also earning you repeat sales.Benchmarks for what"s right on your business will depkết thúc on margins và other factors but, of course, your CLV needs khổng lồ significantly exceed your CAC - if not, you won"t be profitable long-term.Getting toaccurateCAC / CLV numbers is not an easy task. It will require that you have strong measurement acrossall of your media vehicles and that you"re tracking customer trial & repeat by acquisition source (for example, Facebook vs. Google Ads). Once you"re able to lớn measure these effectively, though, you"ll have a much better idea on where lớn focus và how your changeswill impacting results.
4. Use Social Media to lớn Win Sales
Social truyền thông media isn"t just for awareness anymore - increasingly, it"s being used for "bottom of the funnel" activities. According lớn a recent eMarketer article, 59% of companies surveyed now claim they use social media for "promotions" - condemo, coupons, discounts, etc. This is more than twicethe 2018 number (29%)!
Grace and Lace, from Shark Tank Season 5, is a great example of a company that"s driven their business on the foundation of a great social truyền thông media strategy. When the company founders entered the tank, theyclaimed that90% of their over $800k in sales come from their DTC site và that they had yet to lớn spover their first kinh doanh dollar at the time! In addition lớn over 34k highly-engaged Facebook followers, the company"s frilly socks had also benefited from being a top pinon Pinterest.
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5. Get There Faster With Expert Help
Entrepreneurs tend to lớn be resourceful with a high "figure it out factor." Usually this is a strength but it can be a barrierif the entrepreneur invests precious time in trying lớn muddle through a task that could be more easily và quickly solved with the help of an expert coach or partner. If the entrepreneur fails to ask for help, she or he will eventually become the bottleneông chồng to lớn growth.
We"ve been fortunate khổng lồ have sầu had the opportunity to coach several Shark Tank alumni and some entrepreneurs who are likely khổng lồ becomecontestants in upcoming seasons. That"s why we were delighted khổng lồ get this shout out from Mr. Wonderful himself, Kevin O"Leary:
