Yury Vilk of Lodo Web
Yury is the owner of Lodo Web based in the state of Colorado and stands for “Lower Downtown” Denver. Their vision is merging old traditions with new concepts. Just how LoDo was reinvented. Their mission is to change the way websites function.
What made Yury go off on his own? (0:48)
It’s always been a dream of Yury’s to have time independence.
Living so close to where he works allows him eliminate wasting time driving.
Being an entrepreneur allows Yury to have more independence and time freedom.
Yury explains that when he was 18 years old he bought a course that opened up an internet business opportunity for him.
That internet business opportunity is what triggered him into the direction of entrepreneurship.
Is this when Yury started Lodo Web? Or what happened next? (2:48)
Yury started Lodo Web after he left a company he worked for in Denver.
When he first moved to Colorado he got a job at a startup that was work on mobile app development.
After working for them for while the company closed up and Yury was left on his own and had to figure out what to do next.
With previous entrepreneurial experience, Yury decided that it was tie for him to go all in and start his own business.
Walk us through the 4 years since you started your company. (3:58)
Yury started helping out local clients with web development.
He quickly realized that pitching a website without marketing to back it is very difficult.
Customers always asked him how much money they were going to make with their website.
Yury decided to take more of a holistic approach by being involved in the development and the marketing for his clients.
His business started doing product launches but him and his partner then split up.
After the split Yury decided to focus more on e-commerce.
His experience in e-commerce helped him understand customer funnels and customer journeys, allowing him to create everything from the initial entry point, the check out and the thank you page.
Within 8 months they were making 5 figures in revenue on their e-commerce store where they only did drop shipping.
Can you explain the drop shipping model that you used? (6:29)
Yury says that they found a local supplier of a particular product.
Their supplier also already had relationships with very big stores but didn’t have anybody who was doing well on Facebook ads.
For Yury, that was the differentiation, they would not follow the retail channels but their efforts would purely be based on marketing.
After a while Yury was doing more turn over than overstock.com and the supplier got interested in how he was doing his marketing.
Yury says that that is what drop shipping is.
You establish a relationship with a producer and a product, you mark it up to compensate yourself and make sure the margin is enough for you to operate and make some additional revenue on top of what you sell.
Essentially, they were buying the inventory from the producer and getting the producer to deliver the product to their customers they found through Facebook.
What happened when Yury moved away from that business? (8:05)
Eventually the business dried up.
Yury says he knew that the product was a trend and that the trend would end.
When sales started declining he had to pivot again.
He decided to go into the lead generation business and to help businesses in Colorado.
That is where he is at now, he is helping home service providers with lead generation.
What is a home service provider? (9:49)
Yury is generation leads for a company who installs solar panels at homes.
A home service provider is anyone who operates on the premise of serving the customer at their home.
Yury says when the real estate market is thriving, these markets follow suit.
Normally home service providers get leads from different sources but he says a lot of the time they are low quality leads.
For him a lead is someone who is generally interested in your business and people would normally collect information such as their email addresses and their phone numbers.
Yury then takes it a step further and get a full form lead, with additional parameter associated with the customer.
These additional parameters then gives him a good idea of the level of service they are interested in.
An example of such parameters is whether the person is renting the property or owning the property. Property owners are more likely to install solar panels than people who rent.
According to Yury, the industry is moving in the direction of getting quality leads instead of quantity.
What would you recommend for our listeners who want to design better funnels? (20:07)
Always start with competitive research, it will give you a benchmark.
Competitive insights can also give you an indication of what is working and what not.
Look at the flows of your competitors, what is the customer journey like?
Get something like the hot jar plugin to get insights into what is happening on the front end of the customer’s device to determine what customers are experiencing.
After customers went though an experience with you, ask them about the experience and improve on it.