183. How to Make Money Selling Digital Businesses with Gregory Elfrink
On today’s episode of Mastering eCommerce Marketing, host Eitan Koter sits down with Gregory Elfrink, Head of Marketing at Empire Flippers. If you’re not familiar, Empire Flippers is the largest curated marketplace for buying and selling online businesses, from content sites and SaaS companies to e-commerce stores and agencies.
Greg’s story is anything but traditional. He started out as an oil rig worker in Alaska before teaching himself internet marketing. That path eventually led him to Empire Flippers, where he’s been since the early days, helping grow the company into a major player in the digital M&A world.
In this conversation, Greg shares what he’s learned about marketing and storytelling, why empathy is at the heart of good copywriting, and how reading fiction can make you a better marketer.
He also walks through the process of selling a business, what the vetting looks like, how valuations are set, and why timing matters more than people think. His advice on selling during growth instead of waiting until you’ve peaked is a perspective many entrepreneurs need to hear.
Listeners will also get Greg’s take on the impact of AI on SEO, the types of businesses buyers are looking for today, and why control over customer data and marketing channels is becoming more important than ever.
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Guest: Gregory Elfrink, Director of Marketing at Empire Flippers
Gregory Elfrink’s LinkedIn | Empire Flippers
Watch the full Youtube video here:
https://youtu.be/OAO7AbV0C88
Takeaways:
- Greg Elfrink's journey from oil rig worker to marketing head.
- The importance of storytelling in marketing and copywriting.
- Empathy is crucial for understanding customer needs.
- Utilizing data can enhance content marketing effectiveness.
- SEO has become a risky endeavor in the current landscape.
- Sellers often overvalue their businesses due to emotional equity.
- Buyers seek businesses with full control of marketing funnels.
- Double-sided marketplaces present unique marketing challenges.
- Understanding buyer demographics is key to successful transactions.
- Selling during growth phases can yield better valuations.
Chapters:
00:00 Introduction to Greg Elfrink and Empire Flippers
02:46 The Journey from Oil Rig to Marketing
05:43 The Power of Storytelling in Marketing
08:31 Marketing Strategies and Data Utilization
11:19 Understanding the Seller Onboarding Process
14:10 Valuation Insights and Seller Expectations
17:03 Navigating the M&A Landscape
19:49 Common Mistakes Sellers Make
22:37 Buyer Dynamics and Market Trends
25:32 The Role of Brokers in M&A
28:29 Marketing in a Double-Sided Marketplace
31:15 Conclusion and Future Opportunities