I recently had the pleasure of sitting down with Ezra Firestone, a man who is certainly no stranger to the world of successful ecommerce start-ups.
Ezra Firestone’s businesses generated $70M in revenue last year, but he says he’s just “some guy.”
I’ve extracted some of my favorite insights from our conversation and lessons that can help you build a revenue-generating ecommerce funnel.
Who Is Ezra Firestone?
Ezra Firestone started his first ecommerce store in 2006, selling Marge Simpson wigs. Despite being a high school dropout without experience or education, he was determined to make his business work. Two decades later, he invested in and co-founded five successful businesses, including Smart Marketer, an ecommerce education platform that helps entrepreneurs run stores that generate over $20 million in yearly revenue.
Firestone is also the co-founder of Zipify Apps, a software development company that creates Shopify apps, and is an investor in ecommerce brands oVertone, Boom, and Naväge® Nasal Care.
5 Lessons from Ezra Firestone on Building a Winning Ecommerce Funnel
Lesson 1: Have the best promise
While many focus on bringing the best product to market, with the belief that it will establish them as the go-to brand in the industry, Firestone sees things differently.
“Everybody tells you that the best product wins in the marketplace. That is not true. The best promise wins in the marketplace,” Firestone explains.
“The best promise wins in the marketplace.”
Firestone emphasizes the importance of crafting a compelling promise and using video assets to communicate that promise effectively.
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Lesson 2: Build a clear landing page
Firestone stresses the significance of having a clear landing page in your ecommerce funnel, designed to address potential objections and encourage conversions.
“Most people in ecommerce get this wrong… you need to create a traditional direct response sales page,” Firestone advises.
“You need to do a traditional direct response sales page that is designed to overcome any objections they might have about buying.”
Lesson 3: Implement a rigorous follow-up campaign
Firestone underscores the importance of having a robust follow-up campaign in place to engage and convert potential customers who don’t take action immediately.
“You have to follow up with them… capture the email address, and send them emails,” Firestone recommends.
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Lesson 4: Have two products from the get-go
According to Firestone, it’s beneficial to have two products from the start: a focus product for marketing and another for upsells or cross-sells.
“One item that you’re focusing on selling and doing all your marketing around, and another item that you’re using as an upsell or cross-sell,” Firestone explains.
“My viewpoint is that ideally, from the jump, you have two products.”
Lesson 5: The more products you have, the more merchandising you can do
Firestone highlights the importance of merchandising in ecommerce and the opportunities it offers to bundle, discount, and increase revenue.
“Merchandising is how you bundle, how you kit, and how you discount.”
Successful merchandising can significantly impact the performance of your ecommerce funnel and contribute to higher conversion rates.
Confidently Build Your Dream Ecommerce Business
Be sure to check out the full interview to learn more about Firestone’s journey to success in ecommerce and start your Foundr+ journey today for just $1.
In just seven days, you will have everything you need to kickstart and scale your ecommerce business and turn your dreams into reality.
Source: ( foundr.com / Financementality.com )
