Dropping (Knowledge) Atom Bombs with Trey Lewellen
On this week’s episode of Just the Tips, Dean and I are suffering from a bit of conference withdrawal after hanging out with each other at Funnel Hacking Live in Orlando, Florida. But we’re shaking off the cold sweats to welcome my good friend Trey Lewellen back to the show as our first returning guest. Trey has made a huge name for himself as an e-commerce expert, and launched a fantastic podcast called Kommerce Kings. He also led a roundtable at Funnel Hacking Live, so the three of us run through our takeaways from the conference.
How to explode your e-business
One of the first things Trey talked about is his concept of the micro-niche. So let’s say you just started working out, and you’re interested in learning more about fitness, you’re looking to buy some products to help you on your journey. You’re in the fitness micro-niche. Now, if you’re looking for recommendations for those products, you’re going to ask someone who’s been in that niche for a long time, who’s tested and researched various products and can recommend one for you. Trey says that a key to success in any e-commerce venture is to identify those products that in-the-know people in the niche recommend and take them to the wider world. And Trey has a legitimately mind-blowing way to do this that you have to hear on this episode of Just the Tips.
Don’t let it bleed
Trey told a story from his roundtable about a guy who was doing $10 million in sales a year, and he was making 5% of that. So he wanted to double that, so he could make twice as much as he was making. But Try suggested that he turn “180 degrees.” Instead of looking ahead at how he was going to add business to make it to $20 million, he needed to look at where he was bleeding money. Anytime you can identify a way to save how your business is spending money, Trey calls those “saves.” And he provides some really great, actionable examples on this week’s episode of Just the Tips.
How to stop the bleed from returns
One of the biggest bleeds for any company is cancels or returns. Most of the time, it’s out of your control. Someone wanted a product, but when it arrived, for whatever reason, it didn’t live up to expectations. For a small operation, this can be difficult. But Trey has worked out an ingenious way to not only improve your customer service, but stave off the bleed from returns. Of course, you have to listen to this week’s episode of Just the Tips to find out what it is.
A must-listen
This episode is so full of value for our listeners, it’s like getting three hours of face-time with Trey distilled into less than 30 minutes. If you’re looking for easy, sensible ways to grow your business or to stop money from leaking, you have to listen to this episode. Trey doesn’t provide just the tips, he drops a couple of atom bombs.
Outline of This Episode
- [3:22] Trey’s takeaways from Funnel Hacking Live
- [5:40] Trey’s number one tip
- [11:52] How Trey figured out this tip
- [18:30] Finding “saves”
- [23:15] How to handle cancels
Resources & People Mentioned
Music for “Just The Tips” is titled, “Happy Happy Game Show” by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License
