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Hi there! 👋

Last week, we’ve talked about the need to establish a new culture in your lazy e-com business.

In this week’s issue we’re taking it to part 2 out of 2; traction & baller CMOs.

Traction is all about aligning everyone around a single goal.

You use traction to work on how to go from a long term vision to a 1-year plan to what you need to do that quarter / month / week / day.

You work it back to one single question:

What should each person at the company do each day?

And the goal is pretty clear: make more profit.

That doesn’t mean that every team member should have profit as their North Star Metric (one single metric you track and report).

What is a North Star Metric? 

It is typically a metric other than money or profit.

For example:

• Airbnb: Nights Booked

• Facebook: Daily Active Users

• Spotify: Time spent listening

And you can perfectly use North Star Metrics to get traction in your e-com business.

Here’s a list of North Star Metrics I have used to track and optimize our results:

• Email: Number of Active Contacts

• Traffic: %of non-paid traffic

• Social Media: Engagement Rate

It allows your team to focus on one single metric that ultimately leads to you one big goal: more profit.

Baller CMOs can make or break your business.

Any business that has gone lazy needs a baller CMO to reboot.

A baller CMO does the heavy lifting on revenue side, builds a strong brand and spots opportunities to grow and find new business.

The search for a baller CMO is hard, but mandatory. Like I said, they can make or break your reboot.

And you don’t want to play cheapskate on this one. Once you find the right person, pay them big and jam them with equity. It will pay you back big time.

You need someone who is willing to hustle. It will change the company’s culture.

How do you know you’ve find a baller CMO? A baller CMO creates value within the first month.

• They ramp up social media output

• They cut underperforming channels

• They streamline marketing automation

• They set up a loyalty program to increase retention

If in 30 days, they’re still getting up to speed, analyzing and putting a plan together, they’re not the right fit.

When rebooting, you need someone to go beast mode and ramp up ideas quick.

Fail fast and move forward.

Stay tuned. Have a great Sunday.

Erik

Whenever you’re ready, there are three ways I can help you.

1. Interim E-Commerce Management: I run, scale & optimize your e-commerce business.

2. Resource Library. Useful resources for every marketer. Includes an E-Commerce Audit Report, ChatGPT Prompt Guide & Midjourney Masterclass.

3. Book a 1:1 Call. A No Bullshit 20 min Ask Me Anything call. If you’re facing challenges in online business, I’m happy to talk.

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