Why E-Com Is The Hardest Niche

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Anyway, on with the video…
12 months ago, I made a video on why e-com is the hardest niche. It was well received and I got messages from lots of e-commerce agency owners telling me it was accurate and timely.
I made some predictions in that video that have recently been unfolding - but I didn’t make the video to be right, I made it to warn people away from the shiny object that is the e-com niche.
Most people pick the e-com niche without any critical thinking or inspection. They do it because one of the big gurus does it, and today I want to share with you a new video on why I still think e-commerce is the hardest niche with two new ideas and principles.
This is not an attack on anyone, nor is it an invitation for you to hop niche. I just want people to be more informed so they can better understand the nature of their problems in their agency.
I hope you find today’s video helpful. If you do, consider subscribing :)
Thanks,
Charlie
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[@lessthantom2]

Ecomm is the hardest niche to break into but if you’re able to get good results it’s the easiest to scale. It also pays way more than any other niche and is far more rewarding. You get to work with cool brands instead of generating leads for boring businesses like contractors.

[@Marketingfastlanes]

Yes agreed 😂 Once you get some results and confidence, it gets easier, and we have things like performance fees which does not exist in other businesses

[@amishbhadwa7104]

@@Marketingfastlanesyep 8 figures is pretty easy

[@coachstack]

Great insights on the agency business model! There are definitely pro's and con's to local service based vs ecommerce. With service based businesses, marketing is often not mandatory for them. Many owners of local businesses have relied on more traditional forms of customer acquisition for a long time, and still don't have 100% buy-in for online marketing. They also struggle with scale. You may get them a bunch of clients and they tell you to pause everything. That's your reward for doing a great job lol. This doesn't apply for every local business though. Many of the con's can be remedied by educating the client. But educating a market is a tough process. E-commerce brands don't have a brick and mortar presence, and so in some ways, online marketing is not an option - it's pretty much mandatory, if they want to surpass $1M revenue. So the question becomes whether the founder/s want to become the in-house CMO, or if they're going to outsource it. Most e-comm brands can scale quickly, or at least have a clear path to scaleability (i.e. figuring out supply chain etc). This opens the door to great revenue sharing/performance based models, which are slightly tougher to negotiate with local businesses. Also, as another commentor mentioned - the e-comm agency path is an incubation machine, it usually leads to people creating their own brands, getting to know very ambitious people in the industry, creating content, testing various monetization methods that have great scale etc. Another thought it that the viability of the e-comm agency model is highly dependant on the niche. It really depends on what kind of client businesses you are working with. What are their gross margins like? Do they have investment capital? Are they willing to lose money on the front end? Not all e-commerce businesses are the same. Generic, low price, low margin products would be a nightmare as an agency. Anyway, great video, really enjoyed your thought process!

[@coachingconfidant2785]

I dont think it matters actually after doing some research. I see the top agencies in the world in this space are serving both ecommerce clients, and local clients. Seems like a biased viewpoint because local clients are easier to coach for and get results, and therefore more testimonials, but not sure about the agenda behind the video

[@Dan_Coates]

Since cutting down on screen time it’s nice to hop back on and just watch an insightful video 💪🏻🤴

[@socialreach566]

There are some valid points here. There is one advantage to eCom, however. It gives you the in-house tools to create ecom brands that are far more efficient than the brands you serve. It also enables you to build content around the industry. Selling courses, producing KZbin content, and blogging have far more scale when done for eCommerce. It is hard work if it's only the agency in your business plan. Diversify and use your transferrable skills.

[@iliass2002]

100%

[@darienroutliffe1538]

Really love the new style of videos, Charlie

[@teachable3738]

You are one of the most intelligent people I've ever come across.

[@charliemofficial]

thanks but you need to come across more people ;)

[@jalencrisp]

it’s 6 am and you’re the first voice i hear

[@adrianzyskowski1989]

👨‍❤‍💋‍👨

[@itsrajivrm]

Refreshing to see this type of content, I also watched your video about saturated niches. How does this relate though? Is that what you mean at the end by making a idiosyncratic offer?

[@studiostv4627]

Great points Charlie! What if you’ve been in ecom but haven’t had much success for a year. Would you make the switch (and have to completely learn a new industry and service) or keep at it? At what point do I change things up? Thanks mate

[@charliemofficial]

I'd have switched 18 months ago lol

[@adamkagan2709]

Thanks Charlie for convincing people not to join eCom niche!!! More awesome clients for me :) Seriously, of course eCom IS very hard. That said I think all niches have their own challenges. But if you are very patient and master it and get better and better at results and outreach it's truly awesome as you can make performance deals with fewer clients. But yes it's not for everyone and especially those who want results 'now'. Enjoying your vids thanks!

[@Nero_Investing]

Really needed that comment to top up my moral after watching this video. Be patient is the key.

[@dhruv.advertizo]

😂❤❤❤exactly😊

[@nevanwizanska4359]

Thank you so much for the valuable insights that you had provide to me mate. However, I’m wondering like how we’re able to acquire our first client for our agency without any case study whatsoever. As we all know normally when we were only getting started with this business model. You would not be having any of the results to show to the prospects. But the prospects these days more likely would be asking for proof of the results that we had delivered to our past clients. Would you mind giving me some thought on how to handle those challenges when we were just starting up this business model? Thanks in advance, Nevan Wizanska from Indonesia

[@charliemofficial]

conviction & a really good offer

[@weston2337]

Hey Charlie, just wanted to ask what you think about this analogy: A lot of agency owners (including myself) have been doing this outreach method of "Offering crack" in an effort to win over a client. At first, they're skeptical. Because, of course, we all know that crack is fucking bad. But when we offer that first taste, it's almost a guaranteed chance that you now have a client, who you serve 'crack', aka 10x ROI/ROAS or increased sales to. I think, what agency owners should be doing, is offering a taste of chocolate instead. Something widely-known, and also loved. When you want to sell someone a box of chocolate, you don't want to go selling them the whole box immediately. You give them a taste, then they'll decide theirselves if they want to buy the whole box. Chocolate, in this case, could probably be a photoshopped example ad that you can send to a potential client? Sending an example ad not only shows that, you've spent time photoshopping the ad, but it also shows that you've analyzed and really thought through the brand's mission and values. It shows that you care, which I believe automatically generates trust within the prospect. Plus, I believe it makes you stand out A LOT more than the other 95% of agency owners who just send a "Hey, would you like to hop on a call to talk about your business and this and that?" What do you think?

[@charliemofficial]

could work but people love crack

[@brianxaimsquad]

Hey Charlie, for local businesses like plastic surgeons, would you send emails to main business email if you can’t find their personal email or skip that lead?

[@charliemofficial]

send regardless

[@FXKBGameplays]

amazing

[@ImmaculateLife1]

Hey charlie i booked in meeting for Friday and i’m excited about the program. But i want to find out how high is the pricing due to my younger age i’ll have to speak to my parents for financial help there. if you could give me insight into that. I would really appreciate it

[@charliemofficial]

might be a fit we'l see :)

[@zbdsgvb]

August 2023

[@baudouinborghans3209]

preach

[@coachingconfidant2785]

how come your making such little money? did research on youtr companies and you were making like hardly less than 100k says 20k in assets you got.

[@charliemofficial]

kzbin.info/www/bejne/aKK0eYmvrtmNbKs&ab_channel=CharlieMorgan 0:06 :)

[@coachingconfidant2785]

@@charliemofficial oh ok how come it says on companies house the number is so low. You sell a course/consulting aswell? so half of the stripe is course other half agency?

[@harshh62]

10X ROAS 😂