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Don’t Advertise to Existing Customers, Says Serial Ecommerce Entrepreneur

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Taylor Holiday runs three successful ecommerce businesses, a thriving, ecommerce-focused ad agency, and a membership community for advertising matters. He’s developed definitive views on acquiring customers and ad performance, among other insights.

“Lifetime value is subjective. I prefer the term ‘cash multiplier.’”

“Attribution is not important to us. It’s not why an ad unit exists.”

We don’t believe in using ad dollars to market to existing customers.”

He’s an authority on ecommerce advertising, in other words. I recently spoke with Holiday about his ventures, the state of ecommerce, and advertising dos and don’ts. What follows is our entire audio conversation and a transcript, edited for clarity and length.

Eric Bandholz: Please tell us about yourself.

Taylor Holiday: Our agency, Common Thread, is focused on helping folks grow their ecommerce business. We operate in the consumer-product ecommerce world, especially at the early stage of companies, from zero in annual revenue to about $30 million. Our work includes paid customer acquisition, conversion rate optimization, and creative production — anything to help businesses navigate that early stage.

We then use what we’ve learned with our own ecommerce brands, which are Fielder’s Choice Goods, Bambu Earth, and Slick Products. We understand what goes into growing an ecommerce business because we’re doing it every day alongside our clients. It’s a fun journey.

Bandholz: There are so many things I want to ask. You have three ecommerce sites, an agency, and an online community. You’re running multiple businesses.

Holiday: Well, the good news is I’m not. The key as a leader is to build an ecosystem. I have no day-to-day responsibilities inside of 4×400, which is our ecommerce group. Andrew Faris is the CEO of that company. I’m more or less the chairman of the board, to collaborate. Our member community site, ADmission, is run by Grant Zanini and Adrianne Verheyen. My day-to-day responsibility now is the agency. I rely on awesome people to help build the rest.

Bandholz: Are the companies independent? Is there a parent?

Holiday: They’re all owned by a holding company called Dream Labs, which is the overall parent. Dream Labs also includes commercial real estate holdings and a culture development agency called Tell Me Your Dreams and a small influencer marketing agency. They’re all owned by Dream Labs. My partner Josh is the sole employee. He handles all of our legal and mergers and acquisitions — those sorts of things.

Bandholz: One of my mistakes in building Beardbrand was Facebook advertising. Five years ago, we were getting an obscene return on ad spend, something like five-times. I didn’t think that was good enough, and we pulled from Facebook altogether. In hindsight, I wish we would have pushed a bit harder. What other advertising mistakes do you see from ecommerce sellers?

Holiday: I hear that sentiment from many entrepreneurs who were running businesses in 2016 and ’17. When I was running QALO, our wedding-ring site, my partner and I had that same feeling. Everyday items were generating returns of five-to-one, six-to-one, whatever it was. And we didn’t have this sense of the moment. It’s hard to be present in that and figure out what the opportunity represents. In some ways, that’s the situation we find ourselves in again now — the world is sort of collapsing around us during the pandemic. Ecommerce is experiencing this massive growth.

For us, as an agency, across all of our clients in virtually every category, April was a crazy record month of revenue. And so as we think about that. We ask ourselves, “What are the mistakes that people will make?” These windows, such as now, they open and shut. There certainly indications, at least while we’re in quarantine, there are some big opportunities in the ecommerce world.

What we’re seeing for ecommerce right now is around demand creation, capture rate, and volume — not necessarily profitability. We’re seeing an influx of consumers that are suddenly using ecommerce. For a while there, in the early days of the pandemic, CPMs were very low. We saw some incredible efficiencies. In a lot of ways, that window is already closed. Prices on ads are going back up.

So if you’re a business with a strong lifetime value, strongly consider deferring some of the short term profitability and capture customers right now, as consumers come online.

For some of our businesses, we see both efficiency and volume. It’s not via a specific ad format or even channel. We’re seeing people get more profitable volume through YouTube and search than before. We see more profitable ad dollars during Covid-19 than previously.

Bandholz: I can echo those sentiments. We’ve seen a massive boost on the Beardbrand site as well. You mentioned LTV — lifetime value. For folks new to commerce, it’s the total that a customer will spend. How do you calculate lifetime value? Is it one year, two years, or the entire lifetime of the company?

Holiday: It’s a great question. I hate words that have subjective meaning. “Lifetime value” is a good example. The industry defines LTV in many different ways. I prefer the phrase “cash multiplier,” which for us is a 60-day LTV. Ecommerce owners have this joke that we’ll all die waiting for our LTV to show up. The reality is that we should recognize the payback periods that we can afford because cash flow is king.

And so we help our clients focus primarily on 30, 60, and 90-day windows with the emphasis on that 60-day period. For most ecommerce businesses, second purchases from customers happen within 60 days of the initial one, regardless of product category. That’s why we focus on that 60-day window. We apply a general rule that we call the 30/100 principle, which is the idea that you want to see your LTV increase 30 percent within 60 days and 100 percent within a year. If you have reached both of those markers, it’s an indication that you’ve found an ongoing relationship with your customers that reflects a good product-market fit.

Bandholz: What about attribution? The challenge we’ve had is we buy ads on Facebook, and then the customers come in through Google or whatever. How does a merchant know that advertising is performing?

Holiday: It’s the biggest question, right? With the most complicated answer. The less diverse your media mix, the easier the problem is to solve. It gets difficult with a broad media usage — podcasts, radio, TV, billboards, print, everything else. The key is to understand what each position in the funnel of your advertising serves, and ensuring that you’re not convoluting the waters.

Here’s an example. Our company Fielder’s Choice Goods sells leather wallets. Our media mix is fairly simple: Facebook, Google, and YouTube. We define each stage very clearly. We know that Facebook ads reach people who have not been to our website — pure customer acquisition.

If you look just on at clicks, then what we know for sure is that somebody who has never been to our website, or at least hasn’t been in the last 30 days and has never bought a product from us, clicked on my ad and went to the website. I can feel secure about that as an indication of demand generation. I don’t care if the purchase ends up getting assigned in Google Analytics to organic search or direct or paid search. In terms of attribution, I am less concerned about where demand capture happens and more concerned with demand generation. Where did the initial impetus for the purchase begin?

So attribution is not important to us. It’s not why an ad unit exists for us. It’s a hole that plugs up our funnel and ensures that we are capturing as much of the demand creation that we possibly can. So you have to think about what each ad unit intends to serve. And as you move down the funnel, it’s prospecting.

As we get to remarketing on Facebook, we’ll tighten the attribution window — from a 28-day click to seven days. And then at the bottom of the funnel, when you get to abandoned cart orders, we’ll look only on a one-day click basis. Because where it gets noisy is when you start allowing attribution to be cross-pollinating between your different ad channels.

We don’t believe in using ad dollars to market to existing customers, primarily because the whole point of Facebook is to create an audience that you own and control. When customers are in an active window — the average time for a repeat purchase of, say, 70 days — we will exclude that group from any paid media dollars and communicate exclusively with them in email, chat, organic, social, anywhere where it’s free to advertise. We don’t want to pay for that second purchase, especially when we’re using LTV calculations.

And that’s also where you’ll see the most noise in Facebook advertising. You’ll see merchants that advertise to existing customers. They’ll see a massive return on ad spend. But it almost always comes from the combination of their email. Advertising is creating a mess.

Bandholz: What’s the ad budget for your clients? I would imagine it’s significant.

Holiday: It’s more about revenue. A growth client is usually somewhere north of $2 million a year in revenue. That calculates to somewhere around $30,000 to $50,000 a month in ad spend. So that’s sort of the entry point into the agency system. But to help folks in an earlier stage, we created, again, ADMission, our community. It’s intended to be a coaching, training, and teaching platform. Because hiring an agency or even a freelancer doesn’t make sense when you are spending less than $15,000 a month. So if you think about a percentage of ad spend, which is how a lot of agencies charge, the big businesses create economies of scale and can get an agency to charge 4 percent of ad spend.

But if you’re spending $10,000 a month and you’re paying somebody $2,500 a month — a 25-percent markup — it’s going to be hard to be profitable. The best thing we can offer people in the early stage is coaching to do it themselves.

Bandholz: I could talk to you another three or four hours. But we’ve got to wrap it up. Where can people get more information? Where can they follow you?

Holiday: I’m @TaylorHoliday on Twitter. My wife would say I’m there too much. Otherwise, feel free to say howdy at Common Thread.

Source: https://www.practicalecommerce.com/dont-advertise-to-existing-customers-says-serial-ecommerce-entrepreneur

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Eunimart raises $700K funding from LetsVenture, 9Unicorns, others

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  • The startup will utilize the funding to increase its sales, partnership, scaling, and expanding marketing teams to meet the growing demand.
  • To date, Eunimart has raised over $2.2 million in its funding rounds.
  • It had previously raised an undisclosed amount in seed funding in 2020 from TMT Connekt, Loyal VC, Angelbay, SucSEED Ventures.

Singapore and Hyderabad-based Eunimart, which helps SMEs to expand their operations through cross-border ecommerce, has raised $700,000 (about Rs 5.1 crore) in a pre-Series A funding round led by LetsVenture, 9Unicorns, Loyal VC, and Supply Chain Labs.

Eunimart will use the funding to increase its sales, partnerships, strengthening marketing teams, and scaling the product rapidly to meet the growing demand, the statement said. Prior to this, Eunimart had raised an undisclosed amount in seed funding in 2020, co-led by TMT Connekt, Loyal VC, Angelbay, SucSEED Ventures. Following the current funding round, the startup total funding amount stood at $2.2 million. Singapore-based Agility Venture has also invested in the startup.

Founded in 2017 by Shayak Mazumder and Archana Shah, Eunimart leverages artificial intelligence to help small and medium-sized enterprises (SMEs) expand their business operations through its cross-border ecommerce platform. The platform claims to have 5000+ sellers using its platform, processing over 50,000+ orders per month. It aims to add more sellers in the near future. Currently, most of its clients are based in India and the United Arab Emirates.

Commenting on the development, Shayak Mazumder, CEO of Eunimart, Said, “We are creating one of the world’s most advanced platforms for merchants to sell anywhere, on any channel of sales, supported by Artificial Intelligence for decision making, robust supply chain management system and omnichannel suite of solutions.”

He further said, “We are grateful to have LetsVenture, Loyal VC, 9 Unicorns and Supply Chain Labs as our investors in this round. We are looking forward to using the funds raised to support more SMEs in their journey.”

Also Read: B2B Startup GlobalFair Raises Seed Funding To Expand Network Across India And Vietnam

Sunitha Ramaswamy from LetsVenture, said, “We are glad to have Eunimart on board who is working towards providing end-to-end solutions for the business sector to ensure the process of the supply chain is maintained without any breaks with the help of advanced technology.”

Follow IndianStartupNews on FacebookInstagramTwitter for the latest updates from the startup ecosystem.

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Source: https://indianstartupnews.com/news/eunimart-raises-700k-funding-from-letsventure-9unicorns-others/

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RIGHT ON BRANDS PAYS OFF CONVERTIBLE DEBT HOLDERS FILES 10 K

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Dallas, Texas, April 1, 2021 – OTC PR WIRE – Right on Brands, Inc.™ (OTC Pink: RTON), a developer of a broad line of hemp-based foods, beverages, tinctures, and topical products including the exciting new 100% federally legal Delta-8 product line.

Right On brands is proud to announce that the company has paid off the three convertible debt holders.

Jerry Grisaffi, CEO of Right on Brands noted, “Like most small companies, there is a need for capital and the big lenders shy away from small companies such as ours. We now believe that by paying off these lenders the company is on a better track. We took on one new note from a more friendly lender, the note is for $140,000 and has a fixed conversion of .015 cents. In 6 months if we so chose, we could pay the note off with no penalty. This note was used to pay off two convertible lenders. In addition, a third lender chose to convert its note to stock so now we have no upcoming conversions.”

Grisaffi also noted, “We have filed our 10k today on our quest to becoming fully reporting company again with the SEC. This was a long and costly process and time consuming. Now our accountants and auditors will be completing the quarterlies and we believe that this process will be completed by the end of April or sooner.  Now that Texas is open from Covid our sales are coming alive as our product are becoming a choice product in the marketplace.  We believe the retail store will help our bottom line. We will always be transparent with our shareholders and will always answer questions that are in the public domain. We also love to answer questions concerning our products”.

Corporate Website: https://endobrands.com/

Wholesale Website Update:

To streamline ordering for our growing list of Wholesale customers ENDO Brands has now developed an easy ordering Wholesale section for commercial accounts. The new Wholesale section has had several important modifications making it easier to order. ENDO Brands receives new dealer applications thru the portal and processes purchase orders. For most wholesale orders placed prior to 10 am central time those orders are shipped same day.

Right on Brands has a premium location that features our products in a demographically robust community. Wholesale clients gives retail and wholesale clients a great example of the ENDO Brands product line. With a retail showroom, clients will now be able look, touch and embrace the entire product line of ENDO Brands.” says Michael Brown Vice President of National Sales. “The state of Texas is now open for business as per Governor Greg Abbott and retail customers can now transition back to normalcy.  We expect retail sales to be brisk in the spring at the new ENDO Brands location.”

About Right on Brands, Inc.: 

Right On Brands, Inc., (OTC Pink: RTON) is a Dallas based, consumer goods company specializing in the brand development and distribution of Hemp based foods, beverages, smokables, oils, topicals including both CBD and Delta-8 products for health-conscious individuals.

Become an ENDO Brands™ retailer:

If you are a food and beverage or consumer products distributor seeking to sell our high margin product lines of CDB-infused beverages, smokables, or our CBD and Delta-8 edibles, oils and topicals and vapes please contact our sales department.

Email: info@endobrands.com

Corporate Sales: Mike Brown OR Jerry Grisaffi (214) 736-7252 ex 302

For more information please visit: https://endobrands.com/

Try our products today! 25% off of your entire purchase use the discount code “SPRING25

Forward Looking Statements:

This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of All such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company’s reports filed with the SEC. The forward-looking information provided herein represents the Company’s estimates as of the date of this press release, and subsequent events and developments may cause the Company’s estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.

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Source: https://otcprwire.com/right-on-brands-pays-off-convertible-debt-holders-files-10-k/

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The Ultimate Guide to Social Media for E-Commerce

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The Ultimate Guide to Social Media for E-Commerce

Social media for e-commerce has become a critical element in sales growth for many businesses. Using social media to boost your marketing offers many benefits to help build your business, so don’t wait to explore these valuable channels.

Sprout Social reports that after following a brand on social media, consumers continue to engage in other ways. Ninety-one percent check out the brand’s website or app, 89 percent make a purchase, and 85 percent recommend the brand to someone they know.

Let’s look at what you can do to promote your e-commerce business with social media and which tools and best practices you should use.

14 Steps for E-Commerce Companies to Find Success Using Social Media

The more people integrate social media platforms into their daily routines, the more it makes sense to market to them here. Consumers spend almost two and a half hours per day on social media channels.

Why not reach them with social posts where you know they spend a significant amount of time? For example, eye-catching posts with appealing visuals like these posts from Sephora are a great way to market products on Instagram.

Social Media for E-Commerce - Sephora on Instagram

How can you stay on top of new developments and know what you should be doing to serve your customers best? Follow industry leaders in your feeds and keep tabs on trending topics in your industry. You can also discreetly watch what other companies are doing that seems to gain traction.

While social commerce is still relatively new, it’s making a significant impact on e-commerce businesses and how they market to customers. As each platform improves its features to help users sell, opportunities grow for businesses to tap into these audiences to boost their marketing.

The steps below can help you develop best practices in your business to optimize your social media for e-commerce.

1. Define Your E-Commerce Company’s Social Media Goals

There are two main ways to use social media for e-commerce: to drive traffic to your company website or drive sales. While each can be important in its way, it’s essential to identify which you value most so you can effectively plan how to use your resources.

It’s essential to establish your goals before investing time into strategy and implementation to ensure you’re taking action to move you closer to your goals.

If you don’t set goals, you can’t measure your success or repeat what works.

2. Decide If You Want to Become a Social Commerce Company

Social commerce is selling directly to your customers on social media platforms. Everything from discovering your product or service, to a buying decision, to the checkout process happens in the app or platform they are already using.

Target’s Facebook page, for example, has a shop built right into it where customers can browse and purchase products.

Social Media for E-Commerce - Target on Facebook

You might find success with social commerce if you sell products that a potential customer can quickly evaluate online from a photo and might buy on impulse. Think lower price points and items that aren’t likely to need returning.

An apparel company might successfully sell their clothing and accessories on social media as the process suits how people tend to buy these products.

When is social commerce perhaps not a great fit? If your products or services are higher ticket items where customers want to discern quality in-person. A customer buying an engagement ring will want to spend more time evaluating options and vetting sellers than social commerce might allow.

Start by focusing on the networks your ideal customer and target audience uses the most. Take time to engage your audiences and respond to their comments and questions.

Whether or not you want to pursue social commerce for your business, you should still be investing in social media marketing. Social channels can help boost your visibility, increase website traffic, generate leads, and help you engage with your customers.

3. Create a Social Media Strategy for Your E-Commerce Company

You’ll need a social media strategy for your e-commerce company that considers your goals, your resources, and the best platforms that will help you reach your customers. Once you clarify these parts of your strategy, you can expand on each element to create effective campaigns that fit your goals.

When you work from a social media strategy, you’re also more likely to use best practices to help you be more effective overall. Get a clear idea of your target audience, where they spend time, and their worries. From here, do some research to check which platforms are most popular with your target demographic.

With this information, you’ll be better able to plan where your time and effort will pay off.

4. Determine Which Social Media Channels Your E-Commerce Company Should Target

First, look for established platforms that offer a range of features, different ways to advertise and sell products, and focused targeting. Some may appeal to you because they are an excellent fit for your products.

The apparel brand we mentioned earlier would likely want to use Instagram because it is image-focused, and consumers are already used to discovering and purchasing apparel on the app.

Next, consider which platforms attract your target demographic. You’ll want to go where your ideal customers spend time.

What kind of data might inform your decision? With some research, you might discover 60 percent of Pinterest users are women, and 98 percent of Facebook users access the site via mobile devices. From these and other data points, you’ll be able to pinpoint which platforms might be best for your business.

5. Optimize Your Social Media Accounts for E-Commerce

One of the first steps you’ll need to take is to optimize your social media accounts. Fill out your profiles completely, adding helpful information wherever you can.

Make it easy for people to find the information they need at a glance to understand your business and buy from you. Perform research to identify relevant keywords and hashtags to use so you show up in search results. Make your location obvious.

Be sure to link to pages where customers can find the products they clicked through to see. Use clear CTAs so people know what to do to buy from you.

6. Run Social Media Paid Campaigns Optimized for E-Commerce Companies

Nearly every social platform has a version of paid advertising that can allow you to raise visibility even as organic reach becomes more challenging to achieve.

There are also different ad types on each, so it can be valuable to explore the various options. You may try different types of ads on each platform. You might try retargeting ads on Facebook, but use Shoppable posts on Instagram. Take advantage of audience targeting capabilities on each.

7. Use Automation Tools

If social media is a part of your sales strategy, you’ll need to explore automation tools and use what you can. Why is automation so key to social selling? People expect timely and personal interaction on social media networks. To meet their expectations, you’re going to need help.

It’s simply not possible to run a successful business and spend every waking moment online replying to comments and answering questions. Social media is like a storefront that is open 24 hours a day, seven days a week (plus holidays!), so don’t take the chance of turning people away or missing crucial requests or concerns.

8. Consider the Mobile Experience

More people are accessing social media networks and websites via their phones than ever before. When it comes to social media for e-commerce, however, mobile design is just the first step. The whole purchase journey needs to be seamless.

Payment options should be mobile-friendly. Apple Pay, for example, allows you to let users make purchases from their phones. We’ll look at more payment options further down the page.

Consider content formats as well. With more than 100 million hours of video consumed on Facebook every day, you’ll want to offer videos in vertical format for mobile users. People like convenience, a personalized experience, and to feel like they can easily navigate and engage with your site.

9. Optimize Landing Pages for E-Commerce

Optimizing your landing pages for e-commerce helps create a better user experience by providing people with all the information they need to make a buying decision.

If they click through to your site, you want them to understand quickly they’re in the right place. They should be able to move seamlessly to purchasing the item they wanted.

Ensure you have high-quality product images and videos, if appropriate, with well-written product copy outlining features and benefits. Include sizing or specifications on the product page and clear calls to action (CTAs) to help them convert.

10. Create Clear CTAs on Social Media Optimized for E-Commerce

CTAs are what motivate your user to convert to a customer. Take the time to craft these carefully and include them in each interaction you have with potential customers.

You can use different CTAs, like asking questions, including hyperlinks, or simply adding clickable buttons. Your page design might include banners with clear offers, sidebar clickable buttons, or pop-up ads to help customers convert.

11. Ensure Easy Website Navigation

User experience (UX) should be your priority when you launch your e-commerce site. You want shoppers to find products quickly and understand how to move from browsing to purchasing without confusion.

The easier you make it for people to buy from you, the better the chance they’ll convert from visitor to customer. Keep your navigation simple to understand and avoid design elements that are too unusual for people to use easily.

Organize your site information with clear labels for product categories and avoid tricky navigation styles that could create confusion.

Social Media for E-Commerce - H&M site navigation

12. Offer Easy Payment Options for Customers

If you’re going to run a successful e-commerce site, you need to offer reliable and trustworthy ways for people to pay for your products and services.

You can explore a wide range of payment options for your e-commerce business, each with its features and policies. Options include Square, PayPal, Stripe, Apple Pay, Google Pay, and many others.

Some social media platforms allow customers to purchase directly from the app, depending on what features you choose to use. A few of these options include Facebook (with Facebook stores, Messenger Chatbots, and Ads), Instagram (with Stories, Shopping, Live, IGTV, and Ads), and Pinterest (with Promoted Pins, Rich Pins, and Shop the Look Pins.)

You also can investigate third-party websites as a way to advertise and sell your products. Keep reading to learn more about a few of these that may support your e-commerce business.

13. Advertise and Sell on Third-Party Websites

There are other options for boosting your sales beyond your website. Third-party websites allow you to benefit from established functionality and huge audiences while building your legitimacy and website traffic.

One example of third-party website selling is Amazon. While shoppers on Amazon may realize they’re buying from you instead of directly from the retail giant itself, you still benefit from the credibility of their brand and purchasing capabilities. You also get to tap into their vast audience of visitors with a solid intent to buy.

Another option is using sites like Like to Know It, which allows readers to purchase an item or items from an Instagram post by linking the product emailed to them.

RewardStyle is an invitation-only affiliate network focusing on lifestyle, fashion, and beauty products, allowing sellers to earn money through content creation featuring certain products.

14. Track the Success of Your E-Commerce Company’s Social Media Strategy

It’s essential to track your strategy’s results as you implement your ideas, so you can accurately analyze your successes and where you need to improve.

Choose quantifiable metrics representing engagement (such as likes, shares, comments, or retweets). Track your website traffic and how much traffic you are getting from your social media channels. Keep track of sales generated by social media marketing and sales completed online or through your campaigns.

It’s not always easy to tie your efforts to your results, but you can try. With specific metrics, you’ll be better able to repeat the working tactics and revisit the areas that don’t seem to be offering you the same return on investment.

Conclusion

Social media is a big part of everyday life for many people and offers an excellent opportunity to get in front of potential customers and sell your products and services. You can use various platforms to strengthen your brand, increase sales, and develop loyal fans.

If you also sell online, using social media for e-commerce is a natural step for your business as you plan future growth. If you haven’t tapped into the benefits of social media marketing yet, start now, so you don’t miss out on the opportunity it represents.

With the steps outlined above, you’ll be ready to reap the benefits of social media for your e-commerce business. If you haven’t explored these options or want some help to make them work for you, reach out for digital marketing support.

Have you invested in social media for e-commerce in your business? Which of the above tips will you try next?

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Source: https://neilpatel.com/blog/social-media-ecommerce/

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GenTech Provides Mid-Quarter Performance Update Highlighting Breakout Topline Growth in Company’s Fiscal Q2 Metrics

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Wheat Ridge, Colorado, April 1, 2021 – OTC PR WIRE — GenTech Holdings, Inc. (OTC Pink: GTEH) (“GenTech” or the “Company”), (www.gentechholdings.com) an emerging leader in the high-end Premium Coffee (www.secretjavas.com) and Functional Foods (www.sinfitnutrition.com) marketplaces, is pleased to provide current and prospective shareholders with a mid-quarter performance update as the Company moves toward the final month of its fiscal quarter ending April 30, 2021 (Fiscal Q2 2021).

David Lovatt, CEO of GenTech Holdings commented that “We are now seeing the hockey-stick curve we have been talking about month in month out. In this quarter, we have long surpassed last quarter’s top line number with one of the best months in the year for Functional Food sales still ahead of us. More importantly, with a war chest of cash on hand, our acquisition strategy can now start to execute effectively. We have Yourganics and I anticipate more significant roll-ups in the coming weeks and months.”

Note: Data presented below is unofficial and provisional and may be adjusted in future official financial reporting.

Provisional Financial Highlights for Fiscal Q2, 2021 (with one full month remaining in the quarter):

  • Gross consolidated revenues currently at $110,628 after Feb and Mar monthly operations, which represents a monthly revenue run rate on pace to produce 89% sequential quarterly topline growth
  • Present Accounts Receivable for SINFIT at $82,338 after Feb and Mar monthly operations, which approximately matches total from previous quarter
  • SINFIT’s cash-on-hand currently at $860,000 after Feb and Mar monthly operations, which represents growth of 293% on a sequential quarterly basis

Management believes SINFIT performance is poised for continued growth as tailwinds from increased marketing spend and improved operating conditions become active factors in defining the Company’s operational landscape. This includes the impact of wide Covid-19 vaccinations and reduced pandemic impact in the operation of fitness facilities, which is believed to indirectly impact demand for SINFIT products.

Performance is also benefitting from successful event sponsorships and wider use of social media influencer-based marketing, and the resulting growth in brand visibility.

Lovatt Continued “We are beginning to see clear evidence surfacing in performance data to back up our sense of positive trends in our SINFIT operations from our boots-on-the-ground perspective. Our Q2 data is well on its way to casting a big shadow over our Q1 performance despite the fact that Q1 seemed like a breakout quarter in and of itself. Momentum is beginning to gain traction. On a year-over-year basis, we are already showing growth of more than 600% on the topline and we still have another month to go in the quarter.”

About GenTech Holdings, Inc.
GenTech Holdings, Inc. is a publicly traded company under the symbol GTEH. The Company launched a high-end Coffee Subscription service in early 2020 called Secret Javas and has recently closed on its acquisition of Sinfit Nutrition, which offers a range of high-end Functional Foods.

Forward-Looking Statements
This press release may contain forward-looking statements, including information about management’s view of GenTech, Inc.’s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of GenTech, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on GenTech’s future results. The forward-looking statements included in this press release are made only as of the date hereof. GenTech cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, GenTech undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by GenTech.

Corporate Contact:
invest@gentech.group

www.gentechholdings.com

Public Relations:
EDM Media, LLC
https://edm.media

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Source: https://otcprwire.com/gentech-provides-mid-quarter-performance-update-highlighting-breakout-topline-growth-in-companys-fiscal-q2-metrics/

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