Show notes
Why Dave Decided to talk to Peter Pru: Peter Pru has built, grown, and scaled multiple 6-7 figure eCommerce businesses across multiple industries. He is a member of the Clickfunnels 2-Comma Club for hitting over $1,000,000 in sales in his eCommerce businesses using funnels. He's also the host of the Ecommerce Empire Builders Youtube/Podcast where he shares his tactics and strategies for building wilding profitable eCommerce businesses. Tips and Tricks for You and Your Business: Continuity plans and income building. (8:58) Sell digital products also! (10:14) Digital and physical product margins (17:30) Empire Builders: Webinar: ecommerceempirebuilders.com (18:38) Card abandonment/Stick Strategies in eCommerce. (24:14) Quotable Moments: "You can scale as quickly as you want: In some cases, you may scale to quickly." "You really don't have a business until you have continuity income coming into that business." "If you have an eCommerce business one of the best things to do is add on a membership site on the back end of it then you get that continuity income." "It's the idea of marrying both physical and membership sites together. It drops your costs to acquire a customer and increases your lifetime value of the customer." Other Tidbits: Peter talks about how he got started in the eCommerce business and how it has changed his professional career. He discusses the joy he gets from coaching and assisting people in transforming their eCommerce businesses into profitable ventures. Links: FunnelHackerRadio.com FunnelHackerRadio.com/freetrial FunnelHackerRadio.com/dreamcar ---Transcript--- Speaker 1: 00:00 Welcome to funnel hacker radio podcast, where we go behind the scenes and uncover the tactics and strategies top entrepreneurs are using to make more sales, dominate their markets, and how you can get those same results. Here's your host, Dave Woodward. Speaker 2: 00:17 Hey everybody. Welcome back. This is going to be a ride for your life, so hold on tight because I have the one and only Peter Crew on the show. Peter, welcome. It is an absolute pleasure to be on here with a thank you so much for having me. I always make the mistake of getting going and having to. I wish so bad. I could just like start and not have any top. We started talking beforehand. I'm like, shoot, I forgot to hit record so you guys missed the pre stuff, but this guy's been crushing it online. It's basically a 10 year overnight success, which we'll get into in just a second. One of our two Comma Club award winners. The guy's crushing it with with publishing. You've got so many cool things I want to talk to you about is your actual funnel that you're using as far as teaching people, but again, we were just talking about the importance of impact and with click funnels that we get so excited about our two comma club award winners, but not because of ben hitting it. It's because of the impact that they have on everybody else. And so Peter, you were just talking about, you know, growing up in the Mecca of entrepreneurship and Philly, but you're talking about the impact as far as your, your second fam is. I want to start right there as far as. Tell us a little bit about the impact your feeling and how this changed your life. Speaker 3: 01:26 Well, the thing is like for so long, like as you said, my 10 year overnight success. So like I always thought I had to be like alone in this space. I didn't really have mentors in the early stages until years went by and I finally was like, you know, I think I should probably get a mentor and cut my learning curve. But then when I started publishing and you know, this empire builder brand, right, that we have going on now and just teaching people with what was working for me, like these people, I spent so much time with them every single day that it's almost like, it literally is like a second family to me, you know, and seeing them succeed, like making their first dollars online or even, you know, turning their struggling ecommerce business into something that's not profitable. A truly like the most beautiful. Absolutely. Beautiful thing. Speaker 2: 02:11 Well Peter, that's awesome. Well, little backstory here as far as tell people how'd you get started in the econ business and what did lead up to. Speaker 3: 02:17 Okay, so 10 year overnight success story. So I first got certain ecommerce, uh, when I graduated a college. So in college I discovered affiliate marketing made a couple hundred bucks a month, which was like, oh my God, like I'm making money online. Like this is crazy in college it was short, it was kind of short lived with my affiliate marketing career. But I started with Amazon Fba actually. And invested all the money I had to my name. I only had like $5,000 was everything I made in affiliate marketing and my life savings invested in Amazon Fba. Make a long story short. We'll crush it. Within our first year, we're making close to $50,000 per month in sales. Right? But unfortunately, and I don't want to tell anybody that's selling on Fba here. Maybe this was just me, but I don't want to offend anybody. Uh, I do. I'm totally good with offending people on Amazon. Speaker 3: 03:06 So the thing was I got some random, uh, I was driving to work still because a lot of when you sell an Amazon Fba, a lot of your money is constantly wrapped up in inventory. Like you're constantly having to ship more inventory. And so I was still having to work full time. Um, but I saw there was like, that was like, I'm getting there. I'm getting to the point where I can finally quit. I can finally pay myself. And it was quarter four. We're nearing $80,000 a month in sales. Like, like I was the happiest person I was driving to work. I was like, I don't even care about this place like Adelaide, it'd be more. Um, but I, uh, I got an email, said my listing has been suppressed. I was like, what? Then a couple minutes later I got another one and another one and another one. Speaker 3: 03:46 And within like 10 minutes, all five of the listings I was selling on Amazon were suppressed. And what happened was a competitor to explain to people what's that mean? Basically a competitor of mine who went on my list, Amazon product pages and they said that I was infringing on patents, but those were completely false ip claims. Right. And Amazon, they're not going to get involved in like a, you know, illegal or anything. So they just pulled the listing though, took nearly a year to get my account back after that. And it's Kinda at that point like where I kinda got into this dark period where I was like, when everybody else is succeeding around me, like, what, what, what did I do wrong here? Like when is it my turn? Like feeling pity for myself. Uh, and I realized like I was never building my own business. Speaker 3: 04:29 I was left with, with nothing, no customer data, like wasted inventory and I had nothing, literally nothing to show for that business. And look, months went by, I felt that loop that, you know, so many of us do, like, you know, you go to work, eat, sleep, and you just keep doing that day in and day out. And that's when I was like, okay, why are you seriously going to quit right now? Or you're quitting right now. I have all of the mistakes you've made, everything you've learned over these years. Just quitting. And I was like, no way. I cannot, I cannot. I literally couldn't live like another day if I did. And that's when I started learning about shopify and started crushing it. Like make a long story started getting. I started doing really well with shopify but I still couldn't pay myself. I was like, what the heck is going on? Speaker 3: 05:11 Like when I'm going to be able to pay myself here. And that's when I started learning about sales funnels and we were doing a fishing business, a subscription business with fishing and our cost to acquire a customer. And we're gonna get a little technical here. I hope that's a gift. I knew the people that have ecommerce businesses that are listening, why she appreciate this, uh, our cost to acquire a customer with our shopify store, uh, was like about 20, $25. Right? And the reason for that is because people don't subscriptional as selling a subscription on front end as a front end product is really, really difficult unless it's like you're the coolest thing in town, like barkbox fat, that font or something like that. So I realized, okay, well our lifetime value of a and average subscriber was about like a hundred 50 bucks. So we're okay delaying gratification. Speaker 3: 06:02 We're like, I will just delay gratification. We're going to get paid because we know we require them for 25, we can wait six months, we'll make our money right? And the problem with that, when you're not venture back, when you're not venture back, it's go hard and seriously, like we, me and my partners at the time, like we had to invest our money to keep the business afloat, to delay gratification. I was like that it has to be a better way. There has to be a better way. Um, and that's when I started learning about these sales funnels and I started putting in different fishing lures as free plus shipping offers, discount offers, and I was profitable already on my front end offers with the upsells, right? Selling more of the same thing. And then we just injected the continuity piece into that funnel as a step. Speaker 3: 06:45 So not only were we now profitable on the front end, right? But then we got subscribers for free. Like it was, it was. It's amazing. Like it was like that. Literally, when you understand that, and it's the same way, like click funnels kind of grew, grew as quickly as it did, is because you now know that you can grow as fast as you, you truly want. The only bottleneck is your traffic. At that point, because you're profitable already and then you're getting free sales every month on the continuity plan and that was. That's truly right there guys. Like if you. If you implement what I just showed you to like truly you can, you can scale as quickly as quickly as you want. Some cases you might scale too quickly, right? You might not be able to handle it. Speaker 2: 07:27 You know, Peter, I love what you just said and I hope those of you guys who are listening understand this doesn't apply just to people who have ecommerce businesses. It's not just a free plus shipping offer. The Peter's talking about this goes both ways, so if you have an econ business, one of the things I love what you just said is you actually need to add a back end of a membership site. I can tell you, we look at the. I was talking with Stu Mclaren the other day about memberships and he's all in on memberships and we're doing some joint metro state with him later, but potentially on some of the stuff we're looking at, but the main thing we've seen is even inside of clickfunnels, so our most successful users or those who have a membership site because it, it gets that stickiness there. And I look at Trey Lewellen obviously trade. Speaker 3: 08:06 The thing is when I saw I actually had trail on my channel, uh, but you was getting one know more about your channel where, what's your podcast or your video podcasts are just ecommerce. Empire builders just search searching on youtube or just go to [inaudible] dot com. Uh, but when I started doing this and you comfortable, like years back when I joined click, it was like one of the first, like couple hundred users. But um, he was like the other person doing it in ecommerce. I was like, okay, I'm not crazy. I'm not crazy. Like there's others. But yeah, it's when you understand that it's, it's like the most amazing thing. Like it's literally, it's hard to explain like just like this, but when you look whiteboard it out, you're like, holy crap. Like I can. You can, you can scale as quickly as you want any part of your business. Speaker 3: 08:51 And the look, the beautiful part about it is even if you have like a month of sales, let's say you have a business that's a little bit seasonal, right? But you still have those continuity plans. I can keep that, keep your business afloat, right? So we can reinvest that into advertising, pay yourself, you know, whatever I love, I've always looked at as far. You really don't have a business until you have continuity income coming in to that business and so if, if you have a membership site, one of the best things to do is to actually create a front end product that's a physical product like you just did a, whether it's fishing lures or anything else as a free plus shipping to acquire customers for that much less. And then on the opposite side, you have an econ business. One of the best things to do is to add on a membership site on the back end of it because then you get that continuity income to where you can. Speaker 3: 09:34 Again, most physical products do have some seasonality to it. It's just the nature of the beast and so it's the idea of marrying both physical and membership sites together. It drops your cost to acquire customer increases, your lifetime value of a customer. It's a huge win win. Again, I look at what we've done at clickfunnels. It's exactly how we built click funnels. We've got front end offers, everything from three different books. We've got a lot of digital physical as well as digital product. We've been, again, one of our biggest ones for the longest time is our perfect Webinar, which was a physical product, was a digital product we created as a physical product as a free plus shipping that drove. People obviously enter click funnels, which is our continuity platform, so love, love what you're doing and like one golden nugget. For those of you that do have ecommerce businesses like so digital products to like. Speaker 3: 10:18 That's a great way, especially for those of you, I have a lot of students that do like fitness stuff, like they sell fitness equipment, like if you're selling fitness with women and you're not adding some sort of digital content with it, like you're losing out on so much money, right? You can get whole membership could just be, you know, uh, you know, a membership site where, you know, they're, they're getting content every single month and like one little hack, if you guys are like, oh, I don't want to make my own content, like go find some influencers in this space. They don't have to be like huge influencers, but partner up with them, ask them to make you content. We did that for our fishing business. We just reached out to all these people on Youtube, instagram, they're shooting content, you know, recording themselves, fishing, right? Doing what they already love. Speaker 3: 10:58 So when we come along, but hey, we'll pay you $2,000 a month if you promote us and shoot content for us. They're like, oh yeah, like I already love fishing. Like why would I not take this deal right here? That's such a great tip. Oh my gosh. That is a killer. Love that idea of integration at its best. That's cool. It absolutely. One hundred percent. So you're now obviously the part I love about what you do is you actually teach, but you also do so you're actually. Yes, I understand you have. You're helping other people and your empire builders helping them build their own businesses, but you still keep doing it and I think that's the part I love most about you and your business because it's not just. I'm just teaching…
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