hey guys welcome to today's video sosubscriber and the follower on instagramwho has been requesting a certain topicto be covered and i think it's a reallygood topic to cover so in today's videoi'm going to be explaining thedifference between the e-commerce nicheand local business speech likebrick-and-mortar actual businesses asopposed to e-comm which is you knowselling a product online not having aphysical location and just thedifference between those two regardingsocial media marketing whether it be youknow Facebook ads Instagram ads ormanagement so that's what I'm going tocover today but it's kind of cold andwindy out here so I'm gonna go ahead andgo inside the clubhouse so we can startthe video in there so yeah before westart this video if you guys haven'talready make sure that you aresubscribed and you turn on thenotifications that way every single timeI post you guys will be the first onesto know and I also post a lot onInstagram stories too and you know so goahead and turn the post notifications onover there I don't want you guys missinganythingespecially now that like I said I have avideo video editor who's gonna beediting all my videos shoutout savayou're awesome and so yeah the theprocess is gonna be a lot more smoothernow I'm gonna have a lot more contentfor you guys so that's the goal so goahead and subscribe turn on then postnotifications that way you guys don'tmiss any videos alright so this is theclubhouse where we're working at today Igotta go in this way oh this is thelobby[Music]Antarian oh look at that working guyhe's acting like you don't see you guyswell he doesn't cuz it's a camera butanyway this is the workplace for two dayjust chillin had some Starbucks gonnaget some work done had a couple meetingsalready todaybut yeah like I said we're gonna goahead well I'm gonna go ahead and filmthe video and there's no one in hereright now so I had the whole place tomyself which is pretty cool except Caseybut he has air pods in so he can't hearme right now so yeah we're not worriedabout that let me just find a reallycool place to set up that's gonna workgoodokay guys so let's just go ahead andjump into today's video like I saidwe're gonna be covering why ecommerce isso much harder than local businesseswhen it comes to social media marketingwhen you have a social media marketingagency and you know you're looking forclients when it comes to EECOM I thinkyou guys need to understand you know thedifference between ecommerce and localbusinesses cuz I know you know some ofyou might not understand it or not mightnot know what it is so ecommerce isselling products onlineyou know without like a physical storelike a brick-and-mortar store or like alocation local business could be like agym a spa a dentist you know lawyeraccountant whatever whatever it is it'sa local business they're not sellingproducts on lines so I have a littlenotepad here where I went ahead andwrote down some crucial things that Iwant to cover just so I don't forgetanything so the first thing that I wantto talk about is with econ brands you'redriving traffic to the website and youknow it's not just if you're not justdriving traffic to a website and callingitthe traffic that you're driving to thatwebsite or landing page or whatever itis it has to be quality traffic thatconverts into a sale you know so I meanyou're instantly trying to get a saleit's not like a long term process oranything like that it's you know oncethey land on the website you have somuch time to either convert them to asale before they leave so just that'slike the biggest thing compared to alocal business with a you know with aecon brand your results for that clientare solely based on the amount of salesthat you get for that brand like youknow there's other things that go intoit like you know cost-per-click thingslike that cause purchase but I mean yeahthe biggest thing is you're getting themrevenue right then and there so you'reactually bringing that business revenueinstantly it's instant are a way thatyou're providing them with a localbusiness it's not as hard because I meanyou are bringing the business leads andthen it's the businesses job to convertthose leads into sales or members orwhatever it is so yeah so it's thebusinesses job to convert those leads tosales so it it really depends on theirsales team if they're confident in theirsales team if the sales team is goodthen that's when they're gonna startseeing results but your job is you knowyour service is selling the localbusiness leads hey I can provide you Xamount of leads every single month youknow hot targeted leads for that localarea because again you know you're justfocused on that local area whether it bea mile radius a 10-mile radius whateverit is that's what you're focused on soanother thing is with e-commerce so youhave to convert them right away there'sno like enticing offer like let's Li useit an example as a gym membership a gymthere you know what the gym you could doso many different enticing offers youcan do a 7-day free pass to the gymwhich is super enticing people who lovethat people will snatch that upinstantly with econ it's you know you'resaying give me your money right now youknow here's something heremy product buy it you're not giving theman enticing offer like a gym or adentist a free teeth whitening free 7day we packs to our gym whatever it isthere's no enticing offer when it comesto EECOM yeah there could be like youknow up cells across cells there couldbe like discount codes things like thatbut you guys get the point it's not asenticing as a 7 day free trial to youknow the hottest new local gym orwhatever whatever it is it okay so thesecond thing that is super importantwhen it comes to the difference betweenEECOM and a local business is withe-commerce you're dealing with a huge adspend okay so not not necessarily hugein my case we're dealing with a huge adspend by the budget but you know you canhave a smaller Econ brands that you'reworking with with a lower budget howeverit's still a higher budget compared to alocal business so what I mean by that iswith a local business you can easily getaway with a $500 per month ad spendbudget for Facebook ads not includingyour service fee of courseI'm talking just ad spin so with a localbusiness with $500 you can get themleads quality leads that convert intosales whether you know customermembership whatever it is so yeah I need$500 a month and you can still generatethat business revenue it's a it's ano-brainerhowever with EECOM you're dealing with amuch larger ads been compared to a localbusiness so with e-commerce I mean youknow it's pushing it if you're doing 50dollars a day so I mean 1,500 a month onad spend 2,000 a month on ad spend even3,000 a month on ad spend is pushing ityou know you're gonna with e-commerceyou're gonna be wanting to test so manydifferent interests so many differentaudiences it's just it's just endlessand especially in the first you knowmonth or two you're supposed to be doinga lot of testing and even if the brandis a developed brand likelarge clients that we work with ourfirst our first step going into a newclient is always to test even if theyhave a seasoned pixel and the reason isbecause you know something that theymight have not thought of or somethingthat they tried before and then just putit on the back burner because it didn'twork at that time it's not you know it'snot a guarantee that it's not gonna worknow so with e-commerce there's just waymore testing than there is with thelocal business with a local business youknow you just you're just setting radiuswhether it be one my own 10 miles aroundthat business and you're just targetingthat local audience you know it's not aworldwide audience like for e-commerceso that's that's a huge thing becauseyou know you're gonna be dealing with alarger ad spend budget and with a largerad spend budget comes a lot more work alot more stress and especially whenyou're starting to scale those ads yeahjust so much more stress cuz with alocal business you don't really you'renot gonna really scale like you wouldwith econ because like I said econ meit's worldwide you're selling a physicalproduct where you know it's it's adirect sale so as soon as they go ontothe website your goal is to convert theminto a customer with a local businessyour goal is just to get them into thebusiness provide that business with alead and then it's the businesses job toclose that lead so a completelydifferent ballgameso with e-commerce and larger ad spendbudgets you're not only testing moreaudiences and interests you're testinglike more strategies as well as far asthe Facebook ads go so for instance likeright now and in this month we arefocusing on DPS for one of our clientsso at the same time as we're scaling onad spendwe're also I guess you could call itscaling on strategy so we're putting inmore complex strategies so Facebook adswith EECOM and way more complex thanFacebook ads with local businesses sothat's something to keep in mind as wellwhether you'rebe doing the Facebook ads or you havesomeone on your team who's gonna bedoing the Facebook ads whoever it is youguys need to know these you know thecomplex strategies and you guys need tohave a scaling method you guys need toknow more about Facebook ads than youwould if you were doing a local businessokay so another very important thingnumber three is you guys are gonna bedoing a lot more testing when it comesto ad creatives and ad copy with EECOMthan you would with a local business sofor example a local business I could I'mjust gonna spit something out there youcould have you know a picture of the gymor it's not like someone working out inthe gym something like thatput it up there you could have the adcopy and you could literally leave thatfor like three months you know I'm I'mjust kind of like generalizing andmaking it a little bit more simpler thanit is but I'm just trying to explain thedifference between EECOM and localbusiness so like I was saying literallyyou know you can have have the image ofthe gym and have a good ad copy and thenthat could literally run for threemonths before you even have to touch itwith econ it's a little bit differentwe're testing more creatives more adcopy literally you know we could havelike over a hundred different ad setswith you know different targeting thingslike that with just you know one adaccount so it can definitely getcomplicated especially when you knowyou're scaling at the same time so yeahyou're just gonna need more creativesyou're going to need more ad copy andand you know I'm assuming that you guyswould be you know the content will beprovided by the brand if that's how itis in my case with all of my clientsthey provide the ad creativeso with EECOM like I said we'recontinuously checking the ads like 24/7someone's always looking at the admonitoring it scaling it cutting itkilling it you know whatever it is we'realways looking at the ad for econ with alocal business literally you can put itup there and it could run for two threemonths and still work perfectly finestill bringing leads so it's not as it'snot as complex of you know work for theFacebook ad as it is econ so definitelykeep that in mind you have to test waymore creatives way more ad copy when itcomes to econ okay so number fouranother important thing when it comes tothe difference between ecommerce and alocal business is that with e-commerceit's it's not as enticing of an offer asa local business I kind of covered thisa little bit but like I said you knowwith a local business if it's a Jim do a7-day free trial if it's a dentist thatyour client is do a free teeth whiteningI mean that stuff is so enticing likeyou know if you saw a Facebook ad and itsaid free teeth whitening and it waslike a mile away from you I mean whywouldn't you put your information inthere and go get your pearly whites youknow to me a free seven-day gymmembership and it's like the new hottestgym in your city why wouldn't you justput your information in there go to thegym check it out you know it's it's freeit's an enticing offer people love thosetype of offers with econ there's likethere's there's not an enticing offer tosay the least it's not an enticing offeryou're you're literally telling them toget their credit card information puttheir information and buy the productright then in there you're not you knowtaking them down a little funnot having them go put their informationin you know you know and then the nextstep would be to call or to show upget your free pass your free teethwhitening and then try to upsell themthere it's it's more of like a processwhere as econ you're looking for thatdirect sale so that's you know I can'tstress that enough it's not it's not anenticing offer yeah you can have youknow a discount code or like a littlespinny wheel wheel people spend a wheeland they get like a free product or likeupsell cross-sell things like that yeahit's not an enticing offer I mean youguys get the point especially if you'rewatching this video I'm guessing you youalready have a little bit of informationand knowledge about EECOM as opposed tolocal businesses so yeah econ just it'snot an enticing offer like a localbusiness ok so number 5 is it's a lot alot harder to price your service fee fora econ brand than it is a local businessespecially if you're like a beginner andsocial media marketing and you're juststarting your agency it can be a lotharder to price it you come with clientthan it is a local business and let metell you why so with the local businessI suggest using like LTV as kind of likea staple of figuring out your servicefee because what I like to do is youknow my my feet is its value priced Idon't my pricing isn't based on justlike I don't have a cookie cutter pricethat I charge for every single client ifI had a client who you know was astart-up and I had a client who was amulti-million dollar companyit's not fair to charge the startup thesame as the multi-million dollar companyvice versa it's just not how it worksespecially for e-commerce so like I wassaying with the local businesses it's alot easier to price it because you canliterally price it based on LTV so ifyou're not familiar with LTV let me justgo ahead and get my calculator out andshow you guys what I meanokay so I'm gonna use a gem for anexample so let's say I'm in LA so I meanthe prices of gym memberships here theycan go literally all the way up to likefive hundred dollars a month but let'sjust say a hundred dollars a month for amembership at a gym okay so this is howmuch the the new member is going to payevery single month to that gym now theaverage person stays at a gym let's say12 months so this is the lifetime valueof that one customer to that gymokay so lifetime value of that customerfor 12 months they're gonna be payingthe gym a hundred dollars every singlemonth that's just one person so let'ssay you know let's be realistic here wedon't wanna you always want to underpromise and over deliver okay so let'sjust say during that month you can getthat that gym ten new members so we'regonna times this by ten so this is thetotal LTV for those new members thatyou're bringing in during that month andremember this is gonna be a new tenmembers every single month for as longas you are with that client so thisbecomes you know your total LTV nowwe're gonna divide this by two and thereason is because you know I always wantto get my clients over 2 times ROIthat's when it starts to get reallyworth worth their investment so dividetwelve thousand five two you get sixthousand so this should be your oopssorryslack notification so this should beyour service fee plus ad spend sorrysomeone's blowing me up and slackokay let me just put this in so like Isaid you just literally pulled out yourcalculator in front of the potentialclient the business owner of that gymand you justified your service fee thereso getting to times ROI so I mean it'sliterally like a no-brainer okay andlast but not least another importantthing that I decided was super importantto cover in this video is with you knowwith e-commerce in my experience the theFacebook ads are gonna flunk you ate alot more than a local business so econit's gonna function with your euro adsand your CPP you know day today it'sgonna fluctuate with the local businesslike I said you could have an ad up fortwo three months and continue to drivein really good leads with e-comm not somuch it's gonna fluctuate a lot morethat's where you know that a lot morework comes into play a lot more stressespecially when you're scaling so that'sjust something to keep in mind as wellyou know one day one day the ad couldsuck the next day it could be like crazyresults and then it can just fluctuatelike that you know day in day out andI'm not saying like every single dayit's gonna fluctuate if you have yourads good yeah you can have a steady asteady month but I'm just saying it'sgonna fluctuate more so than a localbusiness like what I'm saying is there'smore consistency with a local businessas opposed to ecommerce so that'ssomething to keep in mind too like youknow if you can handle that like theemotions that come with it because Imean us we take our we take our workvery seriouslyyou know we build really good workingrelationships with all of our clients tothe point like where it's fun like youknow we communicate on slack everysingle day we have fun with it we haveour meetings via zoom or Skype so yeah Imean we have we set our our personalexpectations really high we're reallytough on ourselves so it can be a lotmore stressfuldepressing if something's not goingright like howwanted to see yeah that's just somethingto keep in mind as well especially youknow depending on the type of person youare whether you know personal businesswhatever it is just something to keep inmind it's gonna function a lot so beprepared so yeah those are the mainthings as you know like I said the maindifferences between EECOM and a localbusiness and why ecommerce is such aharder niche compared to a localbusiness those are the best you know thebest topics that I wanted to discuss inthis video of course there's you knowlittle things here and there however Ijust wanted to focus on the main ones soif you know if you guys have any otherquestions you know whether it'ssomething that I didn't cover in thevideo or maybe something that you want alittle bit more elaboration on just goahead comment down below and I'll behappy to answer you okay guys this isCasey this is my fiancee slash businesspartner and I just want to ask you aquick little question since you're aexpert at drinking Dr Pepper tell thepeople what in your opinion your expertopinion what's the main differencebetween ecommerce and a local businessas far as social media marketing goeswell the main difference is probablythat EECOM you have to drive resultsright away like results in the both havedrivers always put the results in youhave to get a sale right that's thebiggest difference with local businessas my probably told you just have to geta lead and in the business does the restsame for you come here the business hasto have a good web page and have a goodproduct in everything but you still haveto bring the traffic that is there toready to buy todaythat's the biggest difference and Ithink it's harder but you know both isgreat and do you think hmmm so yeah guysthat is a Casey's little take on EECOMcompared to local business which I didcover by the way so yeah and then like Isaid we're just gonna finish up becauseit's kind of getting a little bit darkoutside it's a five o'clock on the dotso we're just gonna finish up some workand we're actually building out our teamright now a littlebigger so our team is growing we'resuper excited about that which means youknow if your team is growing that meansthat you're doing some sorry if yourteam is growing that means you're doingsomething right in your business yourbusiness is growing your team is growingeverything's just looking up from herewe're super happy to have like thesesystems in place and start going out ourteam our clients all that good stuff soyeah we're super excited about thatand I think we are Casey who's hiringsomeone right now so yeah pretty coolguys and like I said I will see you inthe next video
Source
