Ep 494: The Untapped Market No One In DTC Knows About with Ramiro Velasco, GoAvance
Digitization is on the rise. In the next 10 years, an estimated 700,000,000 people will digitize their shopping habits, creating a vast market full of untapped potential.
In this episode, Jordan West and Ramiro Velasco from GoAvance shares how he initially engaged in a business activity for personal gain and discovered an inefficient yet full of opportunities market. They emphasizes the importance of being part of a growing market and sheds light on the challenges one may face when trading in a shrinking market, citing examples such as bear markets and competition from the likes of Amazon. Capital raising, the role of YouTube, and the challenges faced by agencies are also explored, along with surprising connections between business and music. Ramiro shares how the pandemic has impacted traditional markets and notes Mexico's rise in foreign investment during this time. He anticipates a significant increase in digitized shopping habits over the next decade, creating a larger market and exciting opportunities.
Listen and learn in this episode!
Key takeaways from this episode:
Recognize the importance of being part of a growing market and the challenges of trading in a shrinking market.
Understand the significant growth of Amazon's traffic and the impact it has on the e-commerce industry.
Emphasize the importance of empathy in communication and understanding the needs of others.
Avoid being a bad client by putting yourself in the shoes of service providers and understanding their perspective.
Acknowledge that nobody has all the answers and that everyone is continually learning and figuring things out.
Realize that there is no one-size-fits-all solution when it comes to raising capital for businesses.
Utilize online resources like YouTube to learn and navigate various aspects of business.
Be upfront, honest, and set realistic expectations when working with agencies or service providers.
Explore and leverage diverse backgrounds and experiences to find unique opportunities in the e-commerce market.
Understand the changes in consumer behavior and the digitization of shopping habits, which present new opportunities for businesses.
Recognize the potential of underrepresented categories and the importance of strategic planning when launching products.
Understand the importance of offering the right payment options and amenities for customers.
Seek expert guidance when entering new markets to avoid costly mistakes.
Consider Mexico as a manufacturing hub due to its accessibility and cost-effectiveness compared to other countries.
Explore unique payment solutions like installment plans to overcome payment issues and attract more customers.
Today’s Guest:
Ramiro Velasco Mesina, President and Co-Founder, GoAvance specializes in Amazon and Latin American e-commerce, with a track record of achieving substantial growth for more than 50 seven-figure brands on the Amazon platform. His expertise lies in assisting brands in entering the Latin American e-commerce markets and addressing the various challenges that foreign brands typically encounter in these markets. It appears that he is a knowledgeable and experienced professional in the field of e-commerce and Amazon sales.
Connect and learn more about Ramiro and GoAvance:
Website: https://goavance.com/
LinkedIn: https://www.linkedin.com/in/ramiro-velasco-mesina-a96bb8143/?originalSubdomain=mx
Email: info@goavance.com
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