Table of Contents
- 1. Tell us about your product and what inspired you to start it?
- 2. How long did it take you to acquire your first 50 customers, and what was your growth strategy?
- 3. Which technology stack are you using and what challenges and limitations does it pose?
- 4. What are some of the most essential tools that you use for your business?
- 5. What have been some of the biggest insights you've gained since starting your entrepreneurial journey?
- 6. Your recommended books/podcasts/newsletters etc.:
Simon Terbovšek is the co-founder of CartFox.io - SMS marketing and abandoned cart recovery tool for eCommerce.
1. Tell us about your product and what inspired you to start it?
In our quest to find a solution for recovering abandoned carts for our eCommerce business, we deeply understood the reasons behind cart abandonment and the best practices to address this issue. As we developed our solution, we recognized that this was a challenge faced by virtually every eCommerce store owner. Our innovative approach could provide immense value to others in the industry.
To ensure that our solution was comprehensive and practical, we integrated every possible idea and strategy to maximize revenue for our brands and clients. This included creating personalized and automated email sequences to re-engage customers who had abandoned their carts, offering discounts or free shipping to encourage them to complete their purchase, and implementing exit-intent pop-ups to capture leads before they left the site.
Furthermore, we focused on optimizing the user experience on our website by streamlining the checkout process, offering multiple payment options, and providing clear and transparent shipping and return policies. We also leveraged data analytics to gain insights into customer behavior, allowing us to identify patterns and trends that could help us further refine our cart recovery strategies.
As we continued to enhance our solution, we prioritized scalability and adaptability, ensuring that it could cater to the needs of eCommerce businesses of all sizes and across various industries. We also invested in robust customer support and success teams to assist our clients in implementing and optimizing our solution, ultimately driving higher conversion rates and revenue growth.
By sharing our cart recovery solution with other eCommerce store owners, we aim to empower them with the tools and strategies to tackle cart abandonment effectively and boost their overall sales performance. Our commitment to continuous improvement and innovation ensures that our solution remains at the forefront of the industry, providing unparalleled value to our clients and helping them achieve their business goals.
2. How long did it take you to acquire your first 50 customers, and what was your growth strategy?
We have done some cold outreach to our ideal customers. It took us almost one year to get the first 50 customers. Other than that, we tried paid ads but without luck. LinkedIn was also quite good at getting us some customers. Now, we are looking into content marketing, SEO, and strategic partnerships, and we would also like to boost our affiliate program.
With content marketing, we would like to create high-quality, informative, and engaging content that addresses our target audience's pain points and needs. This can include blog posts, whitepapers, case studies, webinars, and more.
We will also leverage social media platforms like LinkedIn, Twitter, and Facebook to engage with our target audience, share valuable content, and build brand awareness.
3. Which technology stack are you using and what challenges and limitations does it pose?
PHP and MySQL. There are no limitations, developers are productive, and we can scale horizontally.
4. What are some of the most essential tools that you use for your business?
Google Workspace, Skype, and ChatGPT.
5. What have been some of the biggest insights you've gained since starting your entrepreneurial journey?
The most significant insight is that it is easier to reactivate old customers than get new customers. We made reaching out to old customers easy.
Other than that, passion and perseverance are crucial: Entrepreneurs often realize that having a strong passion for their idea and the determination to overcome obstacles is essential for success. Also, it is vital to build a strong team. Successful entrepreneurs understand the importance of assembling a diverse, skilled team that shares their vision and can help execute it.
Adaptability is critical: The ability to adapt to changing market conditions, customer needs, and new technologies is vital for the growth and survival of a business.
Networking and relationships matter: Building solid relationships with mentors, investors, partners, and customers can open doors to success.
6. Your recommended books/podcasts/newsletters etc.:
AIDEA podcast and MoneyHow podcast (both Slovenian).
