33 min
How to Bootstrap and Build a Lasting Company - Steven Hong - EP51 The Page 1 Podcast
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- Marketing
How to Bootstrap and Build A Lasting Company
The e-commerce world is a very competitive one, which means you need a strong brand strategy to establish a long-lasting business.
In this episode of the Page One Podcast, Lou speaks with Steven Hong, the self-titled Chief Bandito at his company Discount Bandit, an online shopping service that matches up discount shoppers to retailers. Steven is a serial entrepreneur in the e-commerce space and has founded multiple e-commerce companies.
Steven shares the immeasurable value of investing in a strong brand strategy that is more long term as compared to brand performance. Listen in to learn the importance of having an effective company culture in ensuring every employee is encouraged and determined to work.
Key Takeaways:
How to use traditional digital marketing by targeting the right customer hence creating a brand presence and a loyal following. The business model of targeting to make nothing on the first transaction. Questions to ask yourself when building a lasting business. The value of a brand strategy that is a more long term than brand performance. How to value your employees by influencing the company culture. Episode Timeline:
[4:08] The impacts of Coronavirus to mid-sized companies and employees. [5:42] The negative effects of Coronavirus against Discount Bandit. [10:40] He explains how they use digital marketing to specifically target the right customer. [14:39] The importance of building a die-hard fan base even when it means losing money during that first transaction. [17:21] How to create value, culture, and be technology-focused to build a longer-lasting business. [22:17] How content marketing helps with long term brand recognition and lots of respect from manufacturers. [25:15] The importance of getting the company culture right. [26:43] How to hold company values to uplift the company culture “I think that culture is one of the few sorts of sustainable competitive advantages that a company can have.”- Steven Hong [26:01]
How to Bootstrap and Build A Lasting Company
The e-commerce world is a very competitive one, which means you need a strong brand strategy to establish a long-lasting business.
In this episode of the Page One Podcast, Lou speaks with Steven Hong, the self-titled Chief Bandito at his company Discount Bandit, an online shopping service that matches up discount shoppers to retailers. Steven is a serial entrepreneur in the e-commerce space and has founded multiple e-commerce companies.
Steven shares the immeasurable value of investing in a strong brand strategy that is more long term as compared to brand performance. Listen in to learn the importance of having an effective company culture in ensuring every employee is encouraged and determined to work.
Key Takeaways:
How to use traditional digital marketing by targeting the right customer hence creating a brand presence and a loyal following. The business model of targeting to make nothing on the first transaction. Questions to ask yourself when building a lasting business. The value of a brand strategy that is a more long term than brand performance. How to value your employees by influencing the company culture. Episode Timeline:
[4:08] The impacts of Coronavirus to mid-sized companies and employees. [5:42] The negative effects of Coronavirus against Discount Bandit. [10:40] He explains how they use digital marketing to specifically target the right customer. [14:39] The importance of building a die-hard fan base even when it means losing money during that first transaction. [17:21] How to create value, culture, and be technology-focused to build a longer-lasting business. [22:17] How content marketing helps with long term brand recognition and lots of respect from manufacturers. [25:15] The importance of getting the company culture right. [26:43] How to hold company values to uplift the company culture “I think that culture is one of the few sorts of sustainable competitive advantages that a company can have.”- Steven Hong [26:01]
33 min