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Unprepared Ep 13 - Building a Strong Foundation By Setting Proper Expectations with Mike Potter

Timestamps

  • [00:00] - Intro
  • [00:53] - What is Rewind?
  • [01:58] - Provide good customer services
  • [04:10] - Over-communicating is the key
  • [04:53] - Increase in online sales 
  • [06:47] - Impact of the pandemic to Rewind
  • [08:50] - Where to find Mike

Resources:

  • Mike Potter's LinkedIn: https://ca.linkedin.com/in/mikepotter
  • Website: https://rewind.io/

Key Points:

  • Rewind.io is an app for Shopify and Bigcommerce that helps you protect your data, and gives you the flexibility to try things out on your online store.

  • As a business owner, all the measures you are doing to adapt to COVID-19 is going to be your new foundation. Think of it as a new start to your business because most probably, we are never going back to the same way we have operated before the pandemic.

  • Be very careful of fulfillment. If you can avoid items that are shipped from overseas, that can take a long time, avoid them. Make sure that customers know if items are still in stock. Set proper expectations of delivery time.

  • You need to have a robust customer support team to handle frustrated customers properly. People are very emotional right now and they need all the help that they can get.

  • Online shopping activity is on an all-time high. Ecommerce businesses are receiving traffic similar to BFCM every day and it’s projected to increase.

  • Customer experience is very critical to maintaining these levels of traffic. Competitors are stepping up and customers can easily not deal with your brand again if they get frustrated.

  • The 25% market penetration of Ecommerce was projected to be achieved in 8 years before the pandemic. Now, we might reach it this year.

  • These times are the perfect opportunity to get new customers and build your reputation.

  • More people interest in Rewind. More businesses are migrating online and more people want their data safe.

Transcript:

Chase Clymer  

Alright everybody, welcome back to another episode of Unprepared. Today we welcome to the show an old podcast guest and now a new video guest, Mike Potter. He is the co-founder of Rewind. How're you doing today? 

Mike Potter  

Good Chase, how are you doing? 

Chase Clymer  

I'm doing fantastic. I love the...you're like, he had to pause. We almost started, he's like, I have to tell my family not to come here because I know they are going to. I feel like...

Mike Potter  

I gave him the iPad as well because I knew they were coming in for that. So that was preparation.

Chase Clymer  

I feel like yeah, the kids need the iPads right now. They're for the children.

Mike Potter  

Yeah. At least they can get some work done at least for a few minutes.

Chase Clymer  

Yeah. Awesome. So you told them so we got about 10 minutes here before they're gonna forget that they're not allowed in the room. So let's get to it (laughs).

For those that don't know what Rewind does and how you guys help in the ecosystem, do you want to give a quick background?

Mike Potter  

So Rewind is an app for Ecommerce merchants and it helps them protect their store data. We're available for Shopify and BigCommerce, and we back up your store data in case something happens to it, we can easily recover it before the problem happens.

So we're there to help the merchants and allow them the freedom to make changes to their store, and not have to worry about whether they make a mistake or not. We're there and we've got their back to help them grow.

Chase Clymer  

Awesome. Yeah, it's, Rewind is an amazing app. If you are thinking about it, on the fence, I would recommend it, it's better to be safe than sorry. We've used it before with some crazy migrations, and it's just good to have backups of everything. 

So pivoting a bit here, obviously, we are well into week six or seven now of the pandemic. You know, I like to keep a positive note on these conversations. So now six weeks in, unfortunately, it's the new normal. We're kind of used to what's going on here. 

What are you seeing in the ecosystem, Ecommerce ecosystem that brands are doing that you think is the right thing? What are people, what should people be focusing on right now? Did you have any thoughts that you really wanted to share today?

Mike Potter  

I think the main thing that people need to keep in mind is that what you're doing now is going to impact your business, I think for a long time. And so you want to make sure that you're providing really good customer service. There's nothing more frustrating from a consumer standpoint than to be buying something from somebody and then either not having that show-up or having it take too long or things like that. So no setting expectations from a merchants perspective of how long it's going to take to get the merchandise. We've seen that some of our customers have had problems actually source in merchandise, whether it's coming from China or from elsewhere where manufacturing has actually stopped or slowed down. 

So if that's the case, you don't want to be selling something that consumers aren't able to actually receive in the next little while. I think there's nothing like I said, there's nothing more frustrating from my standpoint than ordering something off the internet, and then having it take six to 10 weeks to show up at your door. 

Chase Clymer  

Yeah. 

Mike Potter  

I think it's really important now because you've got so many people that are shopping at home. For the first time, we're definitely seeing an increase in activity in terms of the number of people buying online and in terms of the number of stores installing software. I know Shopify has shared some stats that their business is doing fantastically well. Black Friday, Cyber Monday type levels of traffic on a daily basis and continuing to increase. 

And so if you've got new visitors that are coming in, it's a real great opportunity to attract new customers. You want to make sure that you're providing them that amazing level of customer experience that hopefully, you've been doing before. So making sure that anything that's out of stock is not sold, making sure that anything that has a difficulty of being shipped is maybe not being sold, and anything that's going to take longer to ship, you're notifying your customers about that. And I think just over-communicating in some cases around what the estimated time for arrival is. 

These are types of things that at least I've seen personally that have frustrated me and either make me want to return back to the merchant or maybe not want to shop there again.

Chase Clymer  

Yeah, you hit the nail on the head. You got to over-communicate during this time, especially since people are ordering things online that they probably haven't ordered before or wouldn't necessarily order to begin with. And you have to make that experience worthwhile now to try to save that customer relationship down the line. 

You build that trust now and they're gonna, more than likely buy from you again. That's the old adage. It's way easier to upsell people that have already bought from you. I do want to just double down on what Mike said as far as traffic goes. For the merchants that we work with that can fulfill right now, a few of them are beating Black Friday every single day right now. It is insane, the sales, and the growth that's happening. 

Some insiders in the business have projected that...long story short, I don't want to really take up too much time with this, but Ecommerce is hitting 25% market penetration as far as how much sales happen online. Hitting 25% wasn't supposed to happen for another eight years. But because of the pandemic, we might hit this year which just means that we're posed for insane growth this year if you can make it work within your business.

Mike Potter  

Well, I think, like I said, a unique opportunity to acquire customers that you wouldn't have otherwise acquired. And it's really setting...it's really building your reputation as a merchant. 

And so what is your reputation? Is your reputation somebody that provides really good quality merchandise quickly to customers? Or is it somebody that takes orders and takes a week or two weeks in order to fulfill the orders? And I think, if you can, if you've got your process down, then you're already set to just accelerate that. You need to make sure that whatever you're handling online that your backend systems can handle that as well and that you're fulfilling those orders quickly.

Chase Clymer  

Yeah, and I think we've talked about messaging on every single episode of this. And if you have not looked at your messaging or changed your messaging on your website, that's a big mistake. It's gonna lead to some frustrated customers and it's just gonna hurt you in the long run. 

Changing gears a little bit here. How has, I'm just curious, how has this all affected Rewind? Are you guys seeing an uptick in new merchants coming on the platform, are people kind of getting in for the first time and use backups?

Mike Potter  

Yeah, I think we're definitely seeing more interest. I think there are more businesses that are moving online. And so they're more interested in making sure that data is protected as their Ecommerce revenue becomes more important to their overall business. Again, you want to double down on security and make sure that you're protecting that main source of revenue. 

As more people are working in the stores, more chances of problems. So it's one of the key areas that our customers see is, the more people you get in the stores, the more likely it is that they're going to make mistakes. So as volume increases, as you need to hire more staff, as you're inviting more people to be managing customers’ orders and products, etc. in your online store, you want to make sure that you're protecting yourself against that. 

Generally, well now everybody's working from home, so offices are closed. Again, extra security as people are working from home, you want to make sure that your data is protected in case something happens from the home network if they're hitting Shopify servers. So generally we're seeing really good business results. We're on track for one of the best months we've ever had.

This month, we were seeing at the lower end where there were customers that might not have been making a lot of sales, we're definitely seeing those people drop off. People that were trying to start a store now need to focus and maybe save some money for other more important things. 

But the stores that were successful before that were selling hundreds or thousands or 10s of thousands of orders on a monthly basis. We're seeing them grow in popularity, we're seeing them grow their sales numbers, and they're all doing really well. So from our standpoint, the business press is doing extremely well these days.

Chase Clymer  

Awesome. Congrats on that. Now if anyone watching this is curious about you guys or wants to get a hold of you or learn more about the product, where should they go?

Mike Potter  

They should go to Rewind.io

Chase Clymer  

Perfect, Mike. Thanks so much for coming on. 

Mike Potter  

Yeah, you're welcome. Thanks for having me, Chase.

Chase Clymer  

Yep. Thank you.

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A few weeks ago the world changed forever. Every business, every entrepreneur, every single person was unprepared for the sudden change we'd all experience. I'm going to use this time to create content focused on what you can do right now to help your business grow. We're all in this together, we're all unprepared.