In the latest episode of Start / Scale / Disrupt, we were lucky enough to talk to toucanBox CMO Depesh Mandalia (who's worked with everyone from Lost My Name to Ann Summers, and is a mentor for Seedcamp). He shares his top advice for ecommerce startups that are trying to understand, develop and scale their marketing spend.
- Starting points for finding effective marketing channels and CPA
- How Lost My Name started scaling spend
- Key metrics for different types of ecommerce businesses
- How to survey your customers
- And more!
"At the very early stages, don’t expect a return on online advertising. Having a £10 Cost Per Acquisition (CPA) or a certain target will constrain your testing. Whatever the budget, experiment and be able to take risks. If that brings you zero return, but a tonne of learnings, is that good enough to develop from? Testing will be hampered if you’re expecting £500 to turn into £1,500," said Mandalia.
Journalist and editor with nine years' experience covering small businesses and entrepreneurship (ChrisGoodfellow.net). Follow his personal twitter account @CPGoodfellow and his events business @Box2Media. He has written for a wide range of publications in the UK, Ireland and Canada, including The Financial Times, The Guardian, The Independent and Vice magazine.