Jake Cook, CEO of Tadpull, jumped onto the eCom Ops Podcast to share the significance of data in eCommerce success, how to increase the probability of converting leads into sales and his eCommerce plans for 2021. Check out other episodes here.
Key Facts
- Jake Cook’s LinkedIn
- Tadpull’s website
- Jake is a professor at the University of Montana
- Jake believes that eCommerce is a mix of physics and marketing
- Tadpull keeps empathy and technology as their primary focus
- Tadpull helps eCommerce businesses to grow through product and campaign data analytics
- Tadpull works on AI and data harvesting technologies, gathering data from platforms like NetSuite, BigCommerce and Shopify
- Tadpull’s mission is to compete with Amazon
- Jack has a bachelors in physics and masters in marketing
- Tadpull works on “The Four C’s”: culture, customer, campaign and catalogue
Key Takeaways
- Other eCommerce stores such as Amazon have data on different software such as ERP, Shopify, but Tadpull pulls all the data together under one platform through AI
- Tadpull works within the four C’s of eCommerce: culture, customer, campaign and catalogue. If all “Cs” are strategically planned, the company can experience real growth
- Tadpull philosophy and mission is to unify, simplify and amplify brands
-
- Unify brings all the data in one place.
-
- Simplify works with machinery and statistics
-
- And finally, amplify works with email marketing and promotional campaigns
- Tadpull’s team spends quite a lot of time brainstorming ideas on how people interact with data and how to make data utility as efficient and easy as possible
- Tadpull closely observes customers journey throughout the eCom site and with the help of data creates winning strategies
- Tadpull believes that every eCommerce store owner should focus on creating lifetime value for their customers, which can help eCommerce stores generate more revenue
- eCommerce revolves around an 80/20 ratio. 80% are new customers, and 20% are returning, and revenue comes from 20% of customers
- Tadpull focuses on the catalogue. It is essential to have a catalogue updated all the time, so people know what is available to them. According to a survey, 75% are open to trying new brands, and 25% plan to stay with old brands; this 25% has a higher probability of converting into a sale. But the key thing is that this 25% will buy based on inventory available
- Tadpull has a recommendation engine that analyses a customer’s first purchase. When that same customer returns Tadpull uses statistics based on their recent purchase to predict what will be the next product in their purchase cycle
- In 2021, Tadpull plans to focus more on;
- Inventory management to offer the maximum stocks availability to the consumers
- Historical bestsellers to highlight them more and provoke repurchase
Jake’s biggest influences
Jake’s biggest influence in eCommerce is Dr Jim Patel. Jake believes that Dr Patel’s idea has inspired his thinking towards eCommerce.
“Everything is a prototype”
Jake believes that it has helped him get rid of the fear of perfection.
No. 1 operation’s hack
Jake’s #1 operation hack is:
- Data is like rocket fuel in a rocket ship; it will guide you
Key Resources
Subscribe to eCom Podcast
Quote:
