Shortly after Mark Peterson appeared on ABC’s Shark Tank in February 2015, his company, Gold Rush Nugget Bucket, LLC., experienced what some of the Shark Tank companies refer to as the “Shark Tank Effect.” Since appearing on the show, sales for his deluxe gold prospecting kits tripled, the company’s brand gained broader recognition and closing a deal with Robert Herjavec helped position the company for a successful trajectory. However, part of the Shark Tank Effect created newfound challenges, including finding ways for continued growth of the business.
One of the more significant challenges is an issue many entrepreneurs like Mark face today: identifying cost-effective ways to market services or products online. With trends in consumer buying habits leaning more towards online shopping, Mark knew it was essential to prioritize digital strategies for his website, as well as popular shopping sites like Amazon.com.
“I knew that I needed to explore the digital space for increasing sales and marketing the company effectively,” Mark says. “I had dabbled in social media and tried to keep my website updated, but understood there was a lot I didn’t know and needed to do better.”
For Mark, finding the time to learn how to market his business online became problematic. In addition to Gold Rush Nugget Bucket, his most important responsibilities are to his family, and his other business, Western Mortgage Brokers. As Gold Rush Nugget Bucket found more success, balancing responsibilities between his two businesses and his family became increasingly difficult.
“My motivation for success is my two young daughters. If I can’t be a father first, I can’t be successful in business,” Mark explains.
To make his dreams for Gold Rush Nugget Bucket a reality, Mark knew it was essential to seek the help of someone savvy in online marketing. Since hiring a digital marketing manager full-time would require a significant financial investment from the business, Mark knew he needed to consult with Robert to get his full support.
Robert discusses with Mark about hiring a digital strategist on 'Beyond The Tank. '
“It was our first time speaking in person since I appeared on Shark Tank,” Mark says. “I was sweating bullets because Robert is an established entrepreneur and I respect everything he says, and I also knew he might disagree with my idea.”
Tune in Friday, May 13 for Beyond The Tank on ABC at 8 pm PST/EST to see the outcome of Mark’s conversation with Robert.