Enough sharing wins. I need to share more losses and mistakes. Here are the top 3 I can think of in recent memory with tips to not make the same ones.
1. Shifting Too Much Budget To TikTok
There was a time last year where we were spending equal parts on Meta and TikTok. Man that was a mistake. Even though the CPAs were low, I would later learn that the quality of those cohorts were poor and we would many months later...
There was a time last year where we were spending equal parts on Meta and TikTok. Man that was a mistake. Even though the CPAs were low, I would later learn that the quality of those cohorts were poor and we would many months later...
...miss our retention forecasts because our LTV of those TikTok cohorts was so much lower. I regret putting so much spend there and instead wish I waited to know the LTV before making such decisions.
2. Overforecasted
Let's be honest, who didn't overforecast last year? Fortunately, on the whole and our hero skus we were fine, if anything a bit under. But we had 1 launch where we significantly overforecasted and are now sitting on thousands on thousands of unitswhich is...
Let's be honest, who didn't overforecast last year? Fortunately, on the whole and our hero skus we were fine, if anything a bit under. But we had 1 launch where we significantly overforecasted and are now sitting on thousands on thousands of unitswhich is...
...tying up cash in inventory that we may likely never sell. The lesson? Be better, lol.
3. Deleting A Product
Ok this is my worst. I accidentally deleted a product in Shopify a while back. It was our best seller too and when I realized it it was a major oh shit moment. I quickly scrambled to try to find it, but couldn't find it anywhere. Still no idea how I did it.
Ok this is my worst. I accidentally deleted a product in Shopify a while back. It was our best seller too and when I realized it it was a major oh shit moment. I quickly scrambled to try to find it, but couldn't find it anywhere. Still no idea how I did it.
I had to re-create everything from scratch in a hurry and to this day we still run into issues from this screw up. Today, I swear by Rewind to back up our site and prevent any issues like this happening in the future.
Rewind backs up our theme, products, orders, and more so if anything happens, we can quickly find it and restore it. Rewind is automatic, so we don't have to do anything on our end except install it once. I sleep so much better at night knowing we have a backup at all times.
Get a 30 day free trial of Rewind and start sleeping better at night by going to rewind.com/ecommercegold/ #sponsored
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