Throwback: Build a Multi-Channel E-Commerce Empire beyond Amazon

In this episode, host Josh interviews Steven Yates, CEO of Prime Guidance, about strategies for scaling e-commerce brands. Steve emphasizes optimizing Amazon listings and leveraging all available tools before expanding to other marketplaces like Walmart or eBay. He discusses the importance of having a direct-to-consumer website, maximizing Amazon advertising, and using analytics tools to track performance. Steve provides actionable advice on when and how to diversify sales channels, ensuring brands grow efficiently and profitably while building a strong foundation on Amazon first.Chapters:Introduction to Steven Yates and Prime Guidance (00:00:00)Josh introduces Steven Yates, his background, and expertise in retail management and e-commerce.When to Expand Beyond Amazon (00:00:48)Discussion on timing and considerations for expanding to other marketplaces like Walmart, eBay, Wayfair, and international markets.Sales Lift Estimates from Other Marketplaces (00:01:28)Steve provides rough estimates of sales lift from Walmart, eBay, and other channels compared to Amazon.Importance of Optimizing Amazon Before Expanding (00:01:39)Emphasis on being 80-90% optimized on Amazon before moving to other marketplaces.Choosing the Right Next Marketplace (00:03:32)Advice on analyzing where your customers are and not following a cookie-cutter approach to expansion.Launching a DTC E-commerce Website (00:04:04)Discussion on when and why to launch a direct-to-consumer website alongside Amazon.Benefits of Having a DTC Website (00:04:38)Steve explains the strategic advantages of having your own e-commerce site for brand building and customer retention.Capturing and Nurturing Website Visitors (00:05:46)Tactics for capturing emails and engaging visitors who land on your DTC website.Key Levers to Pull on Amazon (00:06:21)Josh asks for a list of actionable levers to increase sales and grow a brand on Amazon.Detailed Breakdown of Amazon Optimization Levers (00:06:33)Steve details optimization tactics: product pages, infographics, A+ content, pricing, assortment, advertising, and Amazon programs.Amazon Advertising and External Traffic Strategies (00:08:05)Discussion on types of Amazon ads, external traffic, and leveraging Amazon’s Brand Referral Bonus.Utilizing Amazon Programs and Betas (00:09:11)Overview of Amazon programs like FBA Small and Lite, brand store, Amazon posts, and customer engagement emails.Order of Operations for Optimization and Traffic (00:10:31)Advice on optimizing for Amazon’s algorithm and conversion before scaling advertising and traffic.Three Actionable Takeaways for Brands (00:11:21)Josh summarizes three key takeaways: maximize Amazon levers, focus on Amazon traffic, then expand to other channels.Tools for Tracking Amazon Metrics (00:13:40)Discussion on aggregating and analyzing Amazon data using third-party tools and Excel.Brand Analytics and Bonus Tool Recommendation (00:14:59)Steve recommends using Amazon Brand Analytics and nozzle.ai for tracking repeat purchases and customer lifetime value.Where to Learn More About Prime Guidance (00:16:21)Steve shares how listeners can contact or follow Prime Guidance for further help.Links and Mentions:Tools and Websites Prime Guidance Shopify WooCommerceAmazon Attribution Program Amazon Posts Helium 10Nozzle AI Transcript:Josh 00:00:00 Today, I'm excited to introduce you to Steve Yates. He is the CEO and founder of Prime Guidance. Steve developed well-rounded expertise working for multi-billion dollar fortune 500 retailers such as Amazon, Dick's Sporting Goods and eBay enterprise prior to founding Prime guidance in all industry consulting. With 30 years experience in retail management and 23 years experience in e-commerce. Steve and his team provide companies with strategic advice and innovative solutions that are based on real life experience working for industry leading retailers. He helps companies grow faster, smarter and more profitably by providing advice, mentoring and coaching for today's busy executives. So welcome to the podcast, Steve.Steven 00:00:46 Thank you. Josh. Thanks for having me.Josh 00:00:48 One of the first questions I want to ask, just kind of selfishly for myself, because we're looking to expand onto different channels right now with our business. We've grown to eight figures just on Amazon alone. But we're we are looking to, you know, is it time to explore or double down more on Walmart eBay, Wayfair? Do we try to get into target? Do we go international right and start shipping stuff into Canada, Mexico, the UK, etc.? So my question to you here, Steve, is what kind of sales lift do you see from those different marketplaces? Right.Josh 00:01:28 Like what do you estimate as hey you go to Walmart it best case scenario, you're probably looking at a 10% lift eBay. Maybe it's a 2%, you know, so on and so forth.Steven 00:01:39 Yeah. So it's a very tricky question because I've seen it wildly different. So interesting. I had to ...