Marketing

Talk-Commerce ryan alford

Building Marketing Loyalty Through Community 

The brands winning today are building a community that drives repeat purchases. Loyalty is gained in drips and lost in buckets because there are so many layers of competition. We interview Ryan Alford with The Radcast agency in South Carolina He has been radical about marketing advertising for 22 years.

Transcript

Brent: Welcome to this episode of talk commerce today. I have Ryan Alford, as opposed to all Chevy. Which we’ve made the joke in the back room. Ryan is a entrepreneur and a super popular podcast host for Radcast Ryan. Go ahead. Introduce yourself. Tell us a little bit about what you do on a day to day role and maybe one of your passions in life.

Ryan: Sure. Brent, it’s great to be here with you. Yeah, I mean I own, my main course of business is radical. You’ll notice the rad theme throughout a lot of things. And I’ll go ahead and give you the insider baseball secret. Ryan offered digital is where that started, but I just like the word radical better.

Ryan: Radcast the agency that I own in South Carolina, it’s a digital ad agency called radical and that’s the day to day and been in marketing advertising for 22 years. Working on some of the largest brands in the world before I started radical. And even with radical now working on large brands and I’m a father of four boys.

Ryan: So my passion seems to align with my children and my wife, Nicole God rest her soul. Who is she? Or bless her souls. She’d say not rest. She’s very much alive, but she’s a assistant principal in a middle school doing one of the hardest jobs in America. In today’s age. My passions revolve around family and when they’re happy, I’m happy.

Brent: that’s awesome. Yeah. We are also a family business here and my kids all worked in the company that my wife and I started. Everybody’s moving on, including myself and my wife, but yeah, I totally get it. Kids are at the cornerstone and I think one of the things we talked about in the green room is how are kids influencing what’s gonna happen into the future?

Brent: Maybe you could talk a little bit about that. 

Ryan: My boys are. 1111 and 12. We’re a blended family. I don’t have twins but we’ve been together since our boys were two and four. So we’ve grown up together as the modern Brady bunch, but I will say this I’ve watched them daily. They’ve grown up in what I call digitally native.

Ryan: I’ve grew up and yourself, probably in what I call analog native. Even though I’ve worn both hats because I’ve grown up in the technology and agency industries, which are very tech heavy and owning a digital agency. I like to say I’m split down the middle, but our kids have grown up in a digitally native first world.

Ryan: What I mean by that is. Both video games, social media, smartphones the medium with which they are both consuming content and being marketed to has all been digital. It’s a world they know, and they place value on digital things that you and I and others probably in the gen X or boomers or whatever place value in physical things.

Ryan: My 12 year old son could really care less what he walks outta the house on, but if his avatar on Roblox doesn’t have the perfect pair of shorts, the perfect Nike digital shoes, and a spiky haircut. He’s not had a good day. And that blows my mind that he cares that much about it, but he’s grown up in that world where they place value very much in digital things.

Ryan: And being digital natives. So our children we’re watching them. We’re watching that value transition from physical to digital doesn’t ma mean that they have no value in physical things. We do experiences as families. We go on trips, but they don’t necessarily care about stuff in the physical world, the way that they do digital things.

Ryan: Especially in video games and social media and other things like tokens and different things. And you see this. And it’s really transitioning into that metaverse slash digital world where you’re gonna start to see a lot of marketing transpire and where marketing’s gonna need to take place.

Ryan: Because again, when things are happening digitally is we’ve moved digitally, the place with which to get eyeballs, to get reach, to get frequency. In the future and already now is in these digital worlds. And so marketing is being very much headed down that path pretty quickly. I’m not saying it’s here and now, and certainly for smaller businesses, they don’t need to be spending thousands and thousands of dollars on speculation.

Ryan: But again, you can see this happening in front of our eyes, in front of our children, with where they’re putting value. And so that’s how I summarize that Yeah. 

Brent: So I think that kind of ties into NFTs and how popular they’ve become or are becoming, how do you see that in relations to how your younger children and kids are growing up and moving into marketing and being marketed too?

Ryan: Yeah. It’s interesting right now it’s a lot of hype and a lot of PR you’ve got digital artwork and things, and so I’m not as. I don’t high on the, the apes that are digital art that are, value that may go up or down. Mine is more in where the basis of the NFT, which is the smart contract that’s happening on the blockchain.

Ryan: And also the data transition for first party data that you’re gonna see happen on the blockchain. And all these things are interrelated. The NFT is the start of it because it’s that digital. A contract that I have a piece of art and I own it, and it’s creating that ledger. And what you’re gonna see is when we move into the future, again, a lot of this advertising and marketing is happening on the web and what’s happening is people are getting more concerned and closing in on that privacy.

Ryan: It’s gotten a lot harder to market on Facebook and other channels, because privacy concerns are there and what you’re gonna see with these smart contracts and your ID, you’re gonna have a wallet. ID on the blockchain, that’s gonna be more you giving permission for data usage. And so it’s gonna play really heavily in targeting in the future in marketing.

Ryan: And so the NFTs are scratching the surface of the technology used. And what you’re gonna see is that transition. And I do think we’re gonna move into a world the next 10 years. Think about. How ridiculously hard it is to get title work done on a house sale, if that was done on the blockchain and that digital ledger was there, you could immediately find that information there and it’s recorded there.

Ryan: And instead of now we’re fumbling around and back offices and paperwork from, 50 years ago on certain transactions, I think you’re gonna see all of this, all these things live within the same data and technology, and they’re all gonna be related to both marketing and just commerce in the future.

Brent: That’s that’s a really good point especially for title work for, so going back to kids what are some indicators that you see that kids are shaping the way marketing is 

changing? 

Ryan: Yeah. The biggest thing is if you start with the fastest growing social media platform in the world today is TikTok.

Ryan: and that started as the teenager platform, 13 to 23. And so they’ve advanced this platform, but now, and I just did a talk about this so they’ve set the standard and set the popularity and set the interest level for this channel of social media and content and really entertainment.

Ryan: And where our source of entertainment, our source of news, our source of knowledge. Our children are setting the standard for things that are taking off. But then I say that 50% of the growth on TikTok today is happening in 30 plus. They’re age 30 plus and 30 and 50% of that engagement is happening.

Ryan: So what started as the 13 to 21 year old platform TikTok 2, 3, 4 years ago is now becoming the mainstream. So you’re seeing the youth set the standard and the knowledge base for some of these platforms. And then it transitions. And it’s not that actually different from like Facebook, Facebook started as a younger platform, 15 years.

Ryan: Even 10 years ago. And now it’s the fastest growing platform for 45 to 65 year olds. Everybody thinks Facebook’s dead. Facebook’s not dead. It’s just older. It’s just graying. . Yeah, 

Brent: definitely. Facebook seems like it’s the place for older people. Let’s just say. I think that I think you’re right.

Brent: Especially on the TikTok front I started using TikTok. I’ve been trying to use it more for business things, but I’ll be honest. My Jack Russell posts on TikTok are definitely the largest viewed items that I could possibly have. How do you think that compares to something like Snapchat? I see my kids still using Snapchat every day.

Brent: But the advertising angle for Snapchat, I think is much lower than it is for TikTok, but Snapchat remains super popular. 

Ryan: Yeah. It’s super popular from a messaging platform specifically. I’m not that high on them as far as they’re long term proposition right now. They’ve gotten passed by as a mainstream content platform by TikTok, Instagram, with reels and different things.

Ryan: It’s certainly a player and it’s certainly used, but it’s primarily messaging from that younger audience. And I don’t wanna discount that value, but I just don’t think they’ve done as good a job. I feel like they’ve gotten on to very trendy like things like AR and certain things that are interesting, but the mainstream appeal of the platform has never really taken off.

Ryan: Where TikTok has grown is growing in a more mainstream fashion with content and engagement and the style of video that it progresses. I feel like Snapchat is faded behind by just remaining that messaging vehicle and not necessarily content

Ryan: consumption and video, I say, content is king, video rules and that’s the problem. Video is everything now. And I think that’s where Snapchat’s gotten left behind. 

Brent: I know that you had you, you talk about some ageless truths in marketing and you started off with your son, I think, and his avatars.

Brent: I think one of those ageless truths, though, especially as kids get into their teens, are they going to point at you as the father and say, you cannot wear that today. Dad, you look so whatever 2010s or something, there, there are some ageless truths truths around marketing and the way our kids are

Brent: influencing us as parents. So maybe speak to some of those ageless truths and the diversity between that digital life and that real life. Yeah, 

Ryan: I’ll go through, I have seven. What I call undeniable and ageless truths are creativity, reach, consistency, distinctiveness, attention, emotion, and motivation.

Ryan: Those are the seven. What I call undeniable truths. They’re all necessary even today, whether it’s digital, whether it’s promoting to children, promoting to adults, whatever it is. And I’ll say this no matter what you do, reach and attention are important. So back to the TikTok analogy right now, that’s where attention is growing there in an Instagram and other channels.

Ryan: YouTube. This is where the eyeballs are, linear TV is certainly not dead, but it’s faded for the number of attention and how much, how many eyeballs are there. And at the end of the day, reach is really a measure of media, which is the number of people that see your message. And no matter what, you’re, whether you’re selling t-shirts on e-commerce supplements, whatever it is, you have to have a baseline volume of reach the number of people that see your message.

Ryan: That’s an undeniable truth in anything that you do, unless you’re in accounts based marketing, and you only need to make four sales a year. You need extensive reach in order to meet your sales goals. Cause me media is divided by reach plus frequency. That’s where it gets into consistency. And the biggest thing I see and the biggest challenges I see today are people that veer off their core messages too quickly.

Ryan: And so people, there’s a, it’s interesting to me on social media, everybody thinks I’ve already posted that. How many times do you see the same commercial over and over again? Because that consistency is what drives. Awareness and consideration and intent, and I’m gonna getting into the purchase funnel here, but ultimately what drives a sale is that consistency of message.

Ryan: And the frequency that it happens. So I don’t know that I’m answering your question exactly, but I think there’s just certain things that even as the medians change, even whether it’s children, whether it’s adult, whether who you’re marketing to, there’s just some age old truths. And one of my other favorite ones is emotion.

Ryan: Even in today, people think with their head and they buy with their hearts. And so emotion can be humor. Emotion can be sadness, a lot of different things, but emotion drives purchase behavior. 

Brent: So when we’re going to some of those ageless truths, I think you had mentioned there’s seven of them.

Brent: You had mentioned reach consistency, emotion. What are some of those other ones 

Ryan: on that distinctiveness? That’s the differentiation. So Again, ageless here. If you want to sell more, you have to stand out. So distinctiveness, consistency, emotion, motivation. So again, this is if you go from the top of the funnel to the bottom, motivation are things like sales periods.

Ryan: What triggers your action that you want the consumer to have and take today. And so even you can have a brand promise and you can have a solution that you provide to someone’s problem, or just a great outfit that someone wants to buy. But what’s the motivational trigger that, that drives them to action today.

Ryan: Lastly, creativity, I don’t know if I mentioned that that will never die in marketing, at least on my watch. 

Brent: So creativity, I think is, that’s always the big one out there that people look for. So the name of your firm is radical. What are you bringing to the table that’s radical that follows along with that creativity?

Ryan: Yeah, the biggest thing is we preach what I call B to H business to human. Whether we work with probably equal parts, B2B and B2C. But what we do is we create it. We drive creativity through the human lens because on the other side of the, whatever, the platform, whatever the medium is, a human that’s buying, whatever you’re selling.

Ryan: And so we use that as a premise for a lot of our creative thinking and what we’re trying to do again, back to those triggers. At the end of the day, what happens when you create an agency called radical. Is your people hold themselves to a different standard. Not only do we hire people that I consider creative, but we also challenge our clients to think out of the box and to know that we’re gonna bring solutions that may not always be obvious.

Ryan: and for example, today in social media, you need to educate or entertain. And so we challenge and we literally have a comedy troop that works for our agency that we’ll do comedic funny, irreverent skits for common sales pair. We had a flooring company that, we did a spoof off of Ron Burgendy.

Ryan: We did the Floor-a-thon, and, it was just irreverent and had a guy up there who was drinking while he was on set and selling flooring. And so again, we when people go left, we go, we just challenge ourselves to think differently and then push the envelope.

Ryan: And again, part of the, I don’t know, the craziness of calling yourself radical is it’s funny what it empowers both your clients and your people to push a little harder. 

Brent: Yeah, that’s good stuff. Do you find it difficult to get B2B customers to think outside of what their norm is and I’m thinking there’s a lot of

Brent: boomers. I’m not a boomer. I’m not quite that old, but there’s a lot of boomers out there that, that were around before computers or before before the internet, let’s just say there was probably computers, but they, it’s harder for them to embrace some of these things in B2B cuz their thing is working.

Brent: How do you push them outside of their comfort zone and get them to do some of those things? 

Ryan: The first thing is back to, when you hire an agency called radical, you’re gonna get what you paid for. So we set the table early, and at the same time, it is difficult. So Brent, so you’ve totally nailed what can be the challenge, but at the same time we do get that license to press them just when they hire us.

Ryan: We’re pretty upfront in the process. We’re gonna push you to consider things. And I also think what’s happened though, is you’ve had this convergence of B2B and B2C channels coming together a little bit, especially with the pandemic and stuff like that. A lot of people are at home on social channels, doing different things, embracing content through different ways.

Ryan: So you’ve had a little bit of a lightning and, or easing of, I call it maybe the executive level content, like everybody’s left their hair down a little bit. And realize that, Hey, I don’t have to wear a suit and tie every day and do stodgy boring content to be effective. So I think that the realities of today have helped lessen that expectation.

Ryan: And, again, B2B companies are seeing, and finally realizing that the age old stodgy Content and overly produced stuff doesn’t work. You’ve had a D social media, whether it’s TikTok, and I’m not saying that’s where B2B brands necessarily belong, but it does have influence. And LinkedIn has even grown as a content platform.

Ryan: People have gotten more comfortable and there’s been a decentralization of content being overly produced. and I think B2B is caught on in the companies that wanna work with us, that we push certainly have caught on. And again, preaching through that B to H business, to human language.

Ryan: They understand that. And that doesn’t mean that, your website can have any fewer legal standards or things like that. But I do think there’s an understanding and a place in this convergence of marketing and media that’s coming together. 

Brent: Just sticking with B2B.

Brent: Do you help some of these companies who’ve come to you and they’ve maybe they have a baseline or they’ve tried something and it hasn’t worked, it’s gonna work cause you’ve seen it work for their companies. Do you create a baseline and then really help them understand how, whatever that audience is?

Brent: Let’s just say it’s YouTube as a simple one for B2B. To explain, Hey, let’s do this and let’s at least try it and then measure it and see how we’re doing. And then they have to also continue on with it for a certain amount of time to see some success. 

Ryan: Yeah. That you’ve nailed it right there.

Ryan: That last part we just won’t, we choose not to work with people that wanna see definitive results in 30 days on anything marketing and the channels and the complexity are too great. It’s not because we won’t hold our soul to expectations. It’s because you have to trial and error, so many different things, and you have to be able to test a lot of different variables so that you see what works.

Ryan: So we like to run two or three tests at a time with different content and different mediums and then compare and cross over those things. And that’s the challenge, but that’s also the opportunity. And I think the brands that kind of buy into that see the success. 

Brent: In our green room, we talked a little bit about that you spoke at a FedEx event.

Brent: I would like to talk about social selling and live social selling. Let’s dive into that. I’m interested in that and I think you’re right. That’s where it’s going right now, or at least a trend. Why don’t you explain what that is to our audience and help us to understand better how people can get into 

Ryan: it.

Ryan: yeah, there’s two parts to it. Overall social selling is just exactly what it says. Leveraging Facebook, Instagram, TikTok Twitter, whatever the platform may be. These all have integrations into the eCommerce platforms. So social selling we press a lot of clients either towards Shopify or Magento when we’re working with clients on e-commerce.

Ryan: And all of them have these integrations built in where your product catalog pushes the social media so that the sale happens within the social platform. So that again, social selling you’re pushing or promoting whether it’s stories, whether it’s posts, whether it’s whatever that content channel might be.

Ryan: You’re but the actual technology that takes place in the transaction happens within the social channel. The biggest trend though, and that’s certainly growing and what’s happened is you’ve had two worlds come together that have allowed that number one, the demand for consumers within the channel, and then the technology’s gotten a lot better.

Ryan: It used to be clunky as heck to try to integrate your product channels within like Facebook and Instagram, like two or three years ago, it’s gotten much easier. As well as the kind of transaction gateways is much easier. So you have demand and technology coming together around the same time. But then the biggest trend in all of this has been live social selling.

Ryan: So this is when you leverage the it’s really, when you think about it’s the QVC effect in 2022, but what we have now is the technology for anyone to broadcast you are your own media channel within these platforms. So whether you’re on Instagram, TikTok, or Facebook, You can go live and start promoting your products.

Ryan: And so we’ve seen a lot of success for brands that literally built studios, whether they’re a, furniture store or a merchandise t-shirt store, no matter really, whatever you’re selling set up studios within their own facilities that are just small facilities, where they have someone come on, they go live and they’re promoting product.

Ryan: It brings in that human element. So that you’re you put a face with the brand while also just giving someone that kind of channel with which to ask questions. Cause you’ve got messaging that can happen between there. And this kind of started in Asia, two or three years ago started really growing.

Ryan: And I think we’re at the right at the mass kind of adoption here the next year or two certainly a lot of brands have already using it, but I think you’re gonna see more mass adoption and it’s an incredible way to create another channel with which you can market and grow sales. 

Brent: Yeah, I think Instagram certainly started some of that trends in Facebook, of course, in their in

Brent: buying directly from the app. But I think what you’re saying more is you go to the actual eCommerce store and they’re selling it to you live and maybe even doing a studio call where you can, where people are talking to you like on QVC, but you can also interact with those people directly through the channel

Brent: I think that makes it very exciting. And it makes for a broader audience via multiple social channels as well. Yeah, 

Ryan: that’s right. And it’s another way to build community. The brands that are winning today are building not just selling, unless you have a truly differentiated product.

Ryan: The brands winning today are building some type of community which drives, repeat purchases and some amount of loyalty and brand. Loyalty’s very difficult to I say they it’s it’s gained in, in, in drips and lost in buckets because you. There’s so many layers of competition now. So it creates another layer for building community and building again, that dual communication channel on your product services or no matter really matter what you do.

Ryan: And yeah, I think it’s it’s a really big opportunity. And I think the channels the companies that are doing it are seeing a lot of. 

Brent: I like that. You mentioned community and I was at ShopTalk a couple weeks ago and saw a great presentation. I can’t remember the brand right now, but it was a clothing brand and they’re, they built a lot of their brand around a brand building community and having, not just influencers, but the community of people purchasing that brand that are advocating for that brand consistently.

Brent: Do you think a lot of Let’s just say eCommerce only merchants are missing out on that opportunity to build community within that brand. Yeah. Within their own brand, I should say. Yeah. 

Ryan: I, every brand is unique, so it’s hard to pass judgment per se, but I do think it’s a level that with the social channels now with influencers with different opportunity path, It’s a lost opportunity if you aren’t and it’s so hard to stand out and create, repeat purchases, unless you’re doing it again, unless your product is just so differentiated.

Ryan: But if you’re selling cosmetics or t-shirts or any kind of apparel, You better be building community because that’s, what’s gonna hold you up through the test of time is that community channel that it’s glorified word of mouth in a way, but it’s also creating and bringing together like-minded and it’s back to targeting, bringing the right target together and so that you’re building

Ryan: both the awareness channel, but the loyalty factor, because then they’re loyal to you for more than just the product itself. 

Brent: Is there risks in e-commerce merchants or even any merchant embracing this I idea of community and then working on their social channels to promote their products?

Brent: What are, what risks do you see in this. 

Ryan: There’s risk in anything, but I think there’s the upside is much greater. The risk could be you certainly don’t want to alienate especially if you have a broad mass appeal product, so you might risk, bringing together.

Ryan: Certain audiences that are maybe not reflective of your brand, that’s certainly a risk, but I think if you do it right, and you organize around your beliefs and principles and bring the right people along the upshot is much greater than the risk. Certainly with social media, in the live forum and in other things, the risk would be just imperfection.

Ryan: But what’s interesting is consumers sort of embrace that realness and that rawness, I can’t speak towards every legal liability. So you again, need to empower your people with the knowledge and the safeguards that they need. But I think the biggest risk might be.

Ryan: I think it’s more, the fear brands are fearful of imperfect situations or content. When in reality, that’s actually. . 

Brent: Yeah. And I can speak to experience on some of the risks around the idea of trying to automate too much of your social media. I can remember. I’m a very ferocious tweeter when I’m at an event.

Brent: And I can remember setting up some bots that would auto tweet a hashtag if it was. Some combination of hashtags and somebody figured it out and was retweeting some inappropriate content based on the hashtags. And I quickly realized it was very early on, but I realized that was not a great idea to try to to try to promote some of those things

Brent: so I suppose some of the risks are around automating things and not monitoring that automation. And I think another risk too, that I see is is brands embracing social media, but never answering. Yeah, people sending you a message that says, Hey I want, this is, this has been a horrible experience.

Brent: What are you gonna do about it? I think Delta airlines has done a great job for me anyways, on responding to me on those type of things. But there’s other brands that I won’t mention that never get back to you. 

Ryan: yes. If you don’t have support to do this, you’re better off not doing it. So you can’t do things that spark conversation and not have

Ryan: the hands on the other end to then answer it. That’s a total no-no and I think what you’ve also said, you brought up the automation factor, again, these channels are so ripe for customer engagement building community. And so you’ve got to commit the resources to them appropriately to take advantage of that opportunity.

Ryan: But if you don’t embrace it completely and you try to automate too much, that can drive a whole nother set of issues, some of which you’ve just described, but also there’s just an authenticness that consumers now expect from brands. And again, if you can’ embrace that fully and it doesn’t mean you have to be perfect, but it does mean you have to truly have engagement

Ryan: and someone assigned and ready to speak and act and be empowered on managing that.

Ryan: And the other challenge is on the automation side, lot of people get into that and I, there’s a big push in marketing to use more automated tools, but right now consumers really crave that authentic expression from brands and they don’t expect perfection.

Ryan: So if you weren’t set up to have the resources and human people. Responding to these things and empowered to do it. Automation just can’t complete the circle for what’s needed to use these channels appropriately and I’m and look, I love technology and software and automation. Like certainly it’s made a lot of our jobs easier and more manageable, but on social media, it’s social.

Ryan: That’s the name of the word? It’s not robots. It’s social. It’s, there’s a two way channel for engagement. You gotta be able to keep up with that. 

Brent: Yeah. And I think I’m gonna key in on what you said earlier, you said spark a conversation. And if you put that in real terms, like you’re walking into a room and you’re gonna start talking to somebody.

Brent: If you start talking to somebody and then you simply never respond or worse, walk away as they’re trying to respond. It’s the analogy for social media is exactly the same. You’re basically calling somebody and leaving the phone off the hook. And never answering anything they’ve just said , 

Ryan: that’s exactly right.

Ryan: It’s a great analogy. I love that. It’s true. You can’t, spark the conversation and then not be there to answer it. 

Brent: Yeah. And as, as bigger brands get, the more they should think about answering those things that are coming at them from social media. And if they’re not going to, they should explicitly say we don’t answer this channel.

Brent: Or I would just say don’t use that channel at all. If you’re not gonna 

Ryan: answer. That’s right. I would definitely say that or use it in a way that it’s clear that you are pushing out, but not expecting something back in. 

Brent: Yeah. But Ryan, we had a couple minutes left here. I wanna just, if you want to close out on a, something you said earlier about customers need to stick with a marketing initiative that you’re trying.

Brent: Even if it seems like it’s failing after a month or even two months if there’s a plan in place, is there a recommended amount of time that somebody should stick with it or is it pliable by the marketing campaign you’re doing? Yeah. 

Ryan: That’s a hard, one. Marketing is so complex and so specific to individual companies.

Ryan: That’s a hard one to answer like universally, but I’m gonna give it my go here. Again, I believe in setting 12 month plans, but making them very mialable, like bendable moldable as needed, cuz you need to be able to read and react to the market. But what I do think you have to stick with is number one, you need to focus on a target and that target can’t change every 30 days.

Ryan: So you need to spend, because a lot of I do some master classes and things like that. And the first thing you have to do is nail your. Because otherwise even a good friend of mine, Andy Murphy says this analogy that even if you’re five millimeters off, if you plot that out over a hundred miles, think about how off course you actually end up

Ryan: And again, getting that target nailed in getting the message to that target dialed in and sticking with it long enough that you have true actionable data. Because 30 days really isn’t enough. So I like to see 90 day campaigns that are testing across one or two different variables that might be the media.

Ryan: It might be the message, but again, there’s a consistent target and there’s a consistent kind of brand promise and theme across all of that. And so I think campaigns in 90 days, I think years in planning, like as far as a year or 12 month plan. And I just think you have to nail that target and you have to at least nail the overarching solution or brand promise that you can provide.

Brent: I would add one more thing that maybe a lot of companies don’t listen to as well is that there has to be enough traffic to make that data actionable. If it’s a, let’s just say it’s B2B and they have very low traffic. It’s gonna take a little longer to prove whatever hypothesis that you’ve put out there.

Brent: I think it’s a mixture of traffic and time that all merchants have to embrace or at least trust that they have to be able to see it through. 

Ryan: Yes. I think you nailed it. And the reality is we’ve done all this talk about social media. Organic social media, except on TikTok and a little bit on LinkedIn is pretty dead.

Ryan: you gotta pay to play to get the reach and the frequency that you need. To drive the traffic that you were just describing. So paid ads are a necessity unless you really have patience and know that organic traffic and growth is gonna take time, cuz SEO efforts on your website, take time. Organic posts get your about 7% of your followers.

Ryan: See them Facebook and Instagram. Twitter and others have figured this out. They’re just not gonna let you grow a business or a brand without paid approaches again, unless you’re leveraging influencers or other things, but those are paid as well. So again, if you want the volume that you need back to reach one of the undeniable truths and marketing it’s pay to play.

Brent: Yeah. And I think too that it’s not as easy for pay to play as it was 10 years ago, you really have to work on your campaigns and even look at more of those long tail searches in when you’re doing pay to play. It’s not just open up the spigot, but you’re gonna get a bunch of garbage nowadays, I think as well.

Brent: So as a merchant, you should pay attention to making sure that you’re looking at whatever’s happening and changing, like you said, the course to make sure you’re on target to hit that. Exactly. Ryan, this has been such a good conversation. I appreciate you being here. As we close out, I give every guest the opportunity to do a shameless plug about anything you’d like to plug.

Brent: What would you like to plug today? 

Ryan: Yeah, obviously, hopefully this has been enlightening. My hat here, the Radcast. Love for anyone to go. Listen, if you look up the Radcast, we do own most of the SEO. You’ll find our show on all the channels. We’re a top 25 marketing and business show on Spotify, top 100 on apple.

Ryan: And then I am launching a master classes, a different in different things and a mastermind under the radical formula, the radical formula.com. So I’d love for you. If you’re an individual or small business, that’s a great place to work with me. And learn from, 22 plus years in the business.

Ryan: And then if you’re a larger brand radical company, radical.company online, Brent really appreciate it. This has been really enjoyable. And you’re a great host. 

Brent: Yeah, I’ll make sure I’ll get all those show notes onto the onto the podcast. And again, thank you so much for being here.

Ryan: Thanks so much.

The 90/10 rule with Jeff J Hunter

I can do it faster myself. It will take too long to teach someone to do it. I don’t trust that the person will do a good enough job. You must learn to elevate and delegate if you have said any of these statements. @jhunter101 Jeff J Hunter helps us to understand the importance of getting S#!t off your plate.

Transcript

Brent: Welcome to this episode of Talk Commerce today I have jeff J. Hunter. Jeff, why don’t you go ahead and do a much better introduction than I just did? Tell us what you do in your day-to-day role and one of your passions in life.

Jeff: I’m a huge IT nerd. I’ve always been in IT my entire life started a computer store that I used to work at for free back at my high school days. And then I ended up becoming a it guy for a networking company in a health and wellness center. And then I became an it guy for a school. And then I became the it coordinator for the whole school district.

Jeff: And then I became an it project manager for each fortune 500 Phillips electronics. And I literally build virtual teams. That’s what I’ve done pretty much my whole life and turns out it’s a pretty important thing to do. These days, I was just telling you before the show that back in 2019, I used to have to convince business owners why they should hire remotely.

Jeff: And after COVID happened I got tapped by pretty much everyone to be their kind of remote team expert. I have a column at entrepreneur.com. I talk about virtual teams and personal brand. I’m officially faculty at digitalmarketer.com on how to build remote agencies. And I’ve definitely helped build out teams for, everything from real estate to e-com to

Jeff: every type of business you could think of. I have 170 team members, mostly in the Philippines. We’re a Filipino virtual assistant company called VA staffer which is now up to about 2.7 million in revenue. And that’s me in a 

Brent: nutshell. All right. Thanks for that. So I know that we did talk a little bit about

Brent: pre pandemic. And there was a lot of resistance from employers to build out remote teams. I’ve been in the Magento space for almost 15 years now. And I think there was a necessity in our space that you had to build remote teams because of the lack of talent.

Brent: So maybe go into some of the reasons other than lack of talent in your local area, where you need to build a remote team.

Jeff: I think that’s very valid. I think that, when you hire remotely, you obviously can tap into resources that are not local. For example, I live in a very small 50,000, maybe 80,000 person town in central California, like it’s near Tracy, California.

Jeff: It’s a very small area. The closest, I am an hour and a half away from the bay area, in all reality, like my talent sources are limited. And I think most people actually are now. I also think that there’s another advantage here that we’re not talking about, which is the American work ethos.

Jeff: Where that’s progressed. I think that over time American has become more entrepreneurial. America’s always been very entrepreneurial, but I feel like right now there’s a huge movement in America for like side hustles and things like that. And and especially in a field that we’re not talking about that much, which is personal assistance and executive assistance, which is something that

Jeff: it used to be an incredible career, right? Like in the sixties, seventies you’d have assistants. Everyone had an assistant and nowadays it’s very challenging to find people for those types of support roles. And another reason why I really like the Philippines is because they have a very strong work ethic.

Jeff: They have a very like service, heart mentality. Also in the Philippines, it’s like a really amazing role that people look up to, to become an executive assistant to a founder CEO here in America. It’s like an awesome thing compared to in America, when you hire someone to be a personal assistant or an executive assistant, they say, cool, what’s next?

Brent: Do you think the Philippines are two virtual assistants like India is to technology talent? 

Jeff: I think so.

Jeff: Although I have learned a couple things along the way. Here’s probably a valued nugget for your listeners. One is I don’t hire virtual assistants. virtual assistant, no matter where you are in the world are typically like entrepreneurs, they’re usually. Managing multiple clients, they’re servicing multiple clients.

Jeff: They have multiple retainers. And for me, I want dedicated people that are committed to me. We’re a permanent staffing solution. So like we build teams, we have people that have worked for the same client that have been on my, that have been in my client lists since 2014, we still have clients that have the same VA.

Jeff: So it’s I guess in all reality, what I do is I actually go out to like technical support call centers, like Uber, Microsoft, Shopify, Canva, right? Like I go to these types of technology companies and I find people that are like, Two years, three years of tenure, they usually work in six days a week.

Jeff: They’re usually getting mandatory overtime. Non-paid mandatory overtime, by the way, they usually have to commute. And then I just simply give them the pitch, which is, Hey, how would you like to learn how to become an executive assistant or a virtual assistant to these awesome companies here based in America.

Jeff: And you’re gonna make two to three times more than you’re getting paid right now. And you can work from home. In your pajamas. That’s how we get them to stick around. Cuz I, I think that, I think the real issue Brett is that retention rate. I think that’s the one thing that you really have to think about remotely is the retention rate.

Brent: Yeah, I know that we’ve hired quite a few people in Mexico and it has been a challenge in the developer world anyways to keep people from moving from job to job. In certain markets, there is a strong a strong, I don’t know what, I don’t know what the word I want to use, but, Trying to get somebody else’s talent, nabbing, your talent or whatever you wanna say.

Brent: So I know that recruitment, yeah. Recruitment is a much better word to use. So yeah, I, so maybe some secrets around how do you keep that talent staying there? 

Jeff: Yeah. First off one, one thing’s for sure. You cannot treat people like. A clock in clock out employee. As a matter of fact, if you’re hiring people overseas, you’re not gonna have them be employees.

Jeff: Anyway, they’re gonna be a contractor. They’re gonna be what’s called a W8BEN W8BEN is a form. You have them fill out that they’re not a us resident. or citizen. And thus, they are not held liable or you’re not held liable to us tax law. So another benefit they actually make it very difficult to hire Americans.

Jeff: These days they’re getting so more expensive. just hire, especially the low wage people. If you’re hiring. A tech stack developer, a hundred K or whatever but if you’re trying to find just like low level, I here in California, where the minimum wage where I’m at is about $15 an hour.

Jeff: I. It really hurts the economy in all reality, because, and the sad part is these laws are meant to help people that are the most vulnerable young people in, maybe minority communities, they’re meant to be like, Hey, look, you’re gonna start out great with a great job, but here’s the problem is business owners have to evaluate what kind of return am I gonna get for a $15?

Jeff: They’re not gonna take their chances on some Joe Schmo. They’re not gonna take some chances. They’re gonna find someone who maybe has some experience or whatever else is they’re gonna pay 15 bucks an hour. So the people that need it the most are not able to get jobs. But anyway, the point that I’m getting at is, as far as retention goes, I try to keep things results based, not clock in clock out.

Jeff: So when it comes to results based you say, okay, what does it for? So in the E eCom space, for example, let’s say I built out teams to do e-com fulfillment. We have a bunch of stores. I have a guy who’s got a huge Trump store. Who’s just killing it. And it’s all drop ship. It’s all drop ship, Amazon fulfillment.

Jeff: They get hundreds of orders a day. They have a VA who basically goes in there, gets into their Amazon account, sets up the drop ship orders. Boom easy. Here’s another thing it’s very hard to find Americans that would be satisfied every day, going into an Amazon account and shipping drop ship orders.

Jeff: It’s like very a low level task. So I think that, setting the right expectations and having it results based, how many orders they should be able to fulfill per day rather than, Hey here’s the amount of hours you should work and that’s gonna go a lot.

Brent: isn’t that Amazon model, the exact model that Amazon uses in their warehouses to show productivity. And I know that there’s been a lot of talk about how busy and how that, that you have to be in motion all the time at an Amazon warehouse. 

Jeff: Yeah, they have stories. They have stories about people who like pee and water bottles because they don’t have enough time to run to the bathroom and pack or something.

Jeff: obviously I do not condone that. I’m just saying that obviously they have results based stuff and it’s the same thing with their prime shipping model. Like they have their, like you can see every package, what like the, they know exactly what drivers are doing because they can see it.

Jeff: They got GPS, they got the little blub-blup, they got a picture everything’s results based. And I feel like right now we’re moving into results based, or even a show me economy. 

Brent: Yeah. Do you think there’s a little bit of a trade off between just hourly and then results based. Some people are motivated to work a little too hard even.

Jeff: Yeah. I’ve actually had to have a real talk over the past year with my leadership team. I have nine people that run this company, VA staffer and actually technically have five people. And then four of those people have an assistant. Including my assistant. So I guess that’s 10 people, but what I’ve learned is that there is a little bit of a trade off.

Jeff: And I also learned that I don’t like to have caps on my people. I want them to be able to earn as much as they can whether that’s, if they, what if they need to put in extra time or whatever. I also reward my team. For example, Jacqueline, my assistant, she does a kick ass job. Hey, you did fantastic today.

Jeff: It’s two o’clock in the afternoon. We’ve done for the day. We’ve done the to-do list. Why don’t you take the rest of the day off? There’s little leadership nuggets like that, that make people like, wow, this guy is really cool to work for. If you’re the kind of guy who has your assistant work an hour, two hours overtime every day and never actually say, Hey, thank you so much for your what doing take the rest of the day off, whatever, like you’re setting yourself up for 

Brent: failure.

Brent: Yeah. That’s a really good point. And having some of those expectations up front and what to expect at the end are so important, especially as a manager. So I would imagine then when you’re helping a company build a remote team, do you have a roadmap you’d walk ’em through to be successful in that.

Jeff: Yeah. So we usually start, and this is it’s funny, cuz it’s backwards. Most people think oh I, when they hire somebody, they have this whole laundry list of things they want them to do. I call that what I call the miracle trap. Like you wanna find this miracle virtual assistant, that’s gonna do everything for you.

Jeff: What that does is it burns them out and you’re also gonna find out they don’t like doing a lot of this stuff. So what I like to do is I figure out like, what is it that this person really likes to do. Like for example, because we specialize in executive assistance. We have what we have something called an experiential hiring process. But experiential hiring process means that we actually have tests of things that they would be asked to do for their real job. For example, one of them is taking meeting minutes.

Jeff: I have my assistant on all my calls. She’s matter of fact, she’s probably feeling weird right now that she’s not on this call because it’s a podcast interview, so she’s not needed. But on every other call throughout my day, I know that my assistant is trained on doing, taking medium. So the experiential hiring process, I have a 15 minute call where we give them a template of here’s the meeting minute templates. I don’t give them a lot of instructions cuz see, I don’t actually hire skill based. This is something that’s gonna blow people’s minds.

Jeff: I don’t care what’s on your resume to me. That’s what you’ve shown you can do. And by the way, I’ve also learned that B and C players. They’re good at copy and pasting A player resumes. I wanna see what you can do. And more importantly, I wanna see what you can learn. So I want adaptability on the forefront.

Jeff: How fast are you able to learn something new? I give them a blank document on Google docs. It has attendees objective of the call. What we talked about. Action items. Very simple. That’s what every call we have, and there’s a call it’s on zoom, it’s recorded and we send them the link. We tell them to listen to the call and fill in the form and we see what they’re able to take away.

Jeff: And that’s a really great way to see what someone’s comprehension is. Comprehension’s key. We hire people based on three things, their adaptability, their work ethic. And if they actually give a damn. 

Brent: Is there a certain type of person that fits that well, or is it pretty much anybody that you can find.

Jeff: I like people that already work for American tech support companies, because half the battle is finding people that work on your time zone. If you’re recruiting from the Philippines, you wanna find people that are gonna work in your time zone as an American, which is half the battle, cuz they’ll fall asleep. So what I wanna do is I find people that already work during American hours at call centers, Uber, like I said earlier, Shopify Canva, and people that have already been trained by Americans because I know American obviously have really strong work ethic and standards, especially in training.

Jeff: And if I hire somebody from Google, Shopify. I know that they’re coming really well prepared already, and that they have good standards of their companies. So I might be one of those culprits recruiters that keeps stealing amazing people. But at the end of the day I have no problems with it cuz I know how much they get paid and I know how much more I pay them.

Jeff: And I’m proud to say that the majority of my team at VA staffer gets paid more than anyone ever has in their entire family generationally. 

Brent: I know that’s it’s a great way to keep retention as well is to pay them a, an extremely fair wage. Yeah. So maybe going back to just the reasons why why an entrepreneur or a business owner shouldn’t focus a hundred percent on clock in clock out.

Jeff: Yeah, I think especially remotely, you’re not able to be there and babysit ’em, you can’t sit there in a, you’re not looking at ’em through the cubicle glass. So you have to have metrics that you can measure to see if they’re actually performing that’s the bottom line.

Jeff: So for example, let’s go back to that Amazon fulfillment, cuz I’m sure everyone listening to this show knows a little bit about, e-com knows a little bit about fulfillment. If you know that someone’s gonna be able to do 10 to 15 order fulfillments in an hour. That’s obviously just a whack number, let’s say 10.

Jeff: So you know that they should be able to fulfill about 80 orders a day. So like order fulfillment, and if they get a hundred fantastic. So as long as you keep like metrics, that people are doing what they’re expected and you also wanna keep people motivated to learn and grow and develop.

Jeff: And I think that’s something that we all have to think about. Remember this the first day that you hire someone is gonna be the least valuable they’re ever going to be. They’re going to grow. They’re gonna become faster. They’re gonna learn more, unlike a computer or a car or whatever else that depreciates, they’re going to appreciate value.

Brent: And how do you give them space to continue to learn? So let’s just say that you bring on new technology. Do you make sure that they have enough time outside of their say 80 orders a day? They’re gonna be able to learn this new part of this piece. 

Jeff: Yeah. So this is a very simple hack. Usually it’s us that figure stuff out.

Jeff: We’re the crazy entrepreneurs in our business. And we’re gonna do the work anyway. I just pop on a zoom call and I say, Hey, come on the zoom, call the suit together. So the only difference is I’m doing the work anyway. The only difference is I’m turning my microphone on and I’m explaining it and I’ll record it if I need to.

Jeff: So they have a little tutorial and then here’s the key that most people forget. Come back on the zoom call. Have them do it and you watch you just flip roles and that way, you know that they’ve got it. And then if they don’t get it, you don’t, they don’t mess something up because you’re watching it. You can say whoa, hold on a second.

Jeff: don’t forget to click that, fulfillment tab, the, don’t forget to turn off the white, to click the white label tab. We don’t want that to know it’s 

Brent: coming from Amazon. I know that earlier too, you had mentioned a 90 10 rule. Maybe dive into that and explain that.

Jeff: Yeah. The nine, 10 rule is something I found out about myself in 2016 when I was actually working at my corporate job. And this was like my side hustle, VA staffer. It was just fun. But when I was working at Phillips I started realizing that as a project manager, 40% to 50% of my time, wasn’t actually managing projects.

Jeff: It was. Doing documentation that sucked. I hate documentation. So I actually ended up hiring somebody to do documentation for me and they were awesome. And I found them somewhere in Pakistan or something like that. This was before I knew what I was doing. I didn’t even know about the Philippines.

Jeff: When I hired somebody in Pakistan who actually had a project management certification and I couldn’t believe it actually, cuz I was a project manager and I didn’t have that certification. So to find someone overseas for $5 an hour that had that certification, which requires you to do 4,000 hours of project management documented, I was like, this is unbelievable.

Jeff: I started thinking like, what other things could I outsource? What other things could I. and the documentation came back amazing. I ended up becoming in the first 12 months of working there. I became one of the top five project managers nationwide out of 95 project managers in the company.

Jeff: And that was when I started realizing that, my most effective use of time isn’t doing documentation. So then I started thinking, what are other. That I’m spending my time on that. Aren’t my zone of genius that aren’t really, like basically I felt like I was kicking the rocks instead of pushing the Boulder.

Jeff: So I just started finding ways to maximize what my most valuable use of time is, which I’ve learned over the years now is marketing. And sales. That’s my best use of time coming on. These shows coming on these podcasts, talking about stuff, obviously people are gonna be like, wow, Jeff, you really did a great job on the show.

Jeff: I wanna learn more about getting a virtual assistant. Like this is the best use of my time. This is my only job, my entire company hiring, firing, managing recruiting, training, performance evaluations, video editing, graphic design, web design. I don’t do any of that. I have a whole team of 170 people that do all that for me.

Jeff: And my only job is to show up and talk about them. that’s it. So the 90 90/10 rule is about delegating that 90% of stuff in your life. That is, it is important, but not important that you do it. So you can focus on the 10% that really drives the business. 

Jeff: forward 

Brent: I know that I think it’s Verne, Harnish in Traction has a concept called letting go of the vine.

Brent: For any entrepreneur that is such a good value statement to make that you need to find ways to let go of some of those things and just trust the process that you’ve built. I know you also mentioned just an operating procedure that would help build out that process for a business owner.

Brent: Maybe dive into that really quick. 

Jeff: Yeah. What I do is that anytime I want to teach something new to my team members is I will literally do a zoom call and I’ll record it and then I’ll have them go back and document the process, take screenshots, things like that. And then I’ll review the SOP together with them.

Jeff: We’ll pop back on a zoom call. They lead the call. They go through the SOP and then we reviewed it to make sure if it has any mistakes. And I’ll tell you, it’s funny, cuz you learn a lot about the SOP process. I call them freedom recipes by the way. And the reason why is because it’s like for me I’m a horrible cook.

Jeff: I hamburgers mistakes I can do. All right. I got a pellet grill. I can set the temperature. It’s easy. I set it and forget it. But when it comes to like baking cake or whatever, I’m trash. But, my mom’s got this cookbook. All right. And it tells me exactly what to do. It tells me I need flour. I need eggs.

Jeff: I need sugar. I need cinnamon. I need some nutmeg. I don’t know. I’m making some eggnog, maybe but the point is that I’m putting it in the oven. I got this bowl. It says to set it in the oven, 17 minutes for 350 degrees. And guess what? Doesn’t matter how bad you are, if your ingredients are right and you follow the instructions step by step, it will come out

Jeff: at least 99% of the time, the. You might drop an eggshell or something in there. But for the most part, if you’re doing the, if you’re following the recipe, you’re gonna get the same result. And that’s the key, by the way. That’s the key with delegation is getting reliability and repeatable excellence.

Jeff: Cuz I think that’s where people fall short is they’re not able to have a reliable system in place. And reliable people in place to finally remove yourself from doing something because you don’t trust the people and you don’t have a good process. The people, the process, I’m starting to sound like Marcus Laona right.

Jeff: You gotta have the people, the process and the product . But that’s the key. 

Brent: Yeah. I bet the hardest part is educating the business owner on why they need to delegate these tasks out and even helping them find those tasks to delegate out. Cuz some people think everything I’m doing is so important that I’m just gonna keep doing it.

Jeff: There’s three lies. Okay. I’m gonna call ’em flat out lies that I hear every business owner. Okay. These are the objections. Whenever people come to me like, oh, I really need a VA one. They tell me that it’s faster and easier if I do it myself. Yeah, it probably is. But let me ask you something, you got somebody who’s doing it 80% and it frees up a hundred percent of your time.

Jeff: Let’s say you get two people and they both do it 80%. now you’ve got 160% results. And by the way, did I mention having someone in the Philippines even for us at VA staffer, it’s $1,500 a month for a full time person, what is your time where that’s nine bucks an hour, not even nine bucks an hour that’s insane to think that you are your own secretary for something that somebody could do

Jeff: as effectively if some by the way, I have people on my team that are way better than me. So we’re talking about above a hundred percent because I’m not good at it, period. So I think that, that’s lie. Number one, number two is that no, one’s gonna care about it. As much as me, man, my assistant Jacqueline cares about my to-do list

Jeff: way more than me. there’s she sent me a message yesterday and said, boss, we’re over halfway done with with July. And you still have these things from the to-do lists from last month, we probably should get this done. And I’m just like putting it off ah, like I’ll get around to it.

Jeff: So that’s line number two, line number three is that you suck it delegating and it would take more time for you to teach them how to do it than to do it yourself. Ooh. See that’s the key. And that’s why I say there’s no excuse with zoom calls, cuz you’re already doing the work. Same with emails, like emails and stuff like, oh, I can’t have, that was actually really hard for me..

Jeff: Okay. The delegating emails was actually really hard for me because like I’m a control freak. So I actually, every day for about a week, we just went into my emails and I told her, Hey, here’s what I would do with this. Here’s how I’d respond to this. This is trash, this is spam, whatever. And if they’re not sure about it, message me.

Jeff: If they’re not sure about it message me. And I think that building that trust and having someone who grows with you in the business is one of the most important things you can do. As a matter of fact, the first two hires I tell every business owner should be an executive assistant and a copywriter

Brent: I can say from experience I’m in an entrepreneurial group and one of my forum members has an assistant and she is doing I where’s 10 of us in our group and I swear that this assistant’s doing most of the work for our group. 

Jeff: Truth be told Brent my assistant is the one who set up this call for us.

Jeff: Yeah, she’s on my LinkedIn. She’s sending you the pitch. She said, Hey, this is what I talk about on the show. Like that’s, by the way, that’s a process that I built. I said, Hey, let’s engage with these people. I tell them, Hey, go into people, be genuine and listen to their latest podcast. I actually have my assistant listen to a portion of your show.

Jeff: So she gave you some feedback on the show like, Hey, whatever, you’re. Previous guest was great show. She likes it. She added you a connection request saying that she liked the show. And then after you come back, Hey, thanks for connecting. We should talk about this on the show. And you’re like, yeah, you know what,

Jeff: that sounds genuine. And I think my audience would get something out of it. That’s all stuff that you can build out. If you have someone who’s reliable that you can trust. And I think that’s the real problem today. It’s really hard for people to find. I don’t know if you know this Brent, but right now in the tech space I think you, you already said something about this with the developer, but right now in the tech space, the tenure of a team member is only 1.8 years on average.

Jeff: So imagine dumping all of your time, all of your resources, all your training brain dumping for a year and a half, and then find out at 18 months that person is gone. 

Brent: That’s super expensive to keep hiring. And I know that we’re in Minneapolis where the employment rate is less than 2% right now.

Brent: So talent is very hard to get. So you’re exactly right. And I think, maybe just as we’ve got a few minutes here, why don’t you just tell us a little bit about the reasoning behind, not that higher fire mentality, but that trying to keep somebody on consistently is so important. 

Jeff: Yeah, I think that it goes back to what I said earlier.

Jeff: It’s about building that trust. It’s let me give it an analogy here. We are entrepreneurs we’re we wear a lot of hats. Now I’m wearing my VA staffer hat. I’ve got all these other hats here. I have my Savage marketer hat right here. That’s my podcast, which I should have you on my show by the way.

Jeff: And what do we do as entrepreneurs? We put everything on our plate. We have a lot of stuff on our plate. And when you hire somebody, especially an assistant, what happens is you’re gonna say, okay, cool. I wanna focus. Remember that nine, 10 rule. I wanna focus on these important things, these 10%. So what you do is you’re starting to delegate.

Jeff: You’re starting to take your stuff off the 90% plate, and you’re starting to pass it over to your assistant. You’re passing it over to your assistant. You’re passing. Next thing you. Especially around that 50 50 mark. We’re like, oh my gosh. My day is so much better right now. Like they’re doing 50% of the work.

Jeff: I’m doing 50% of the work. What do entrepreneurs do? 

Brent: They work all the time. Yeah. They start 

Jeff: filling their plate back up. So now you got 50% over here and you got 50% over here, but then guess what happens? We’re like, oh, now I have more time to spend with my family. Oh, now I have more time to go to these networking events and masterminds.

Jeff: Oh, now I have time to launch this course. I’ve been putting off. Oh, now I have time to start doing more content marketing and stuff, right? Oh, Hey, I’m gonna start a podcast. So now you’re back to a hundred percent, but it’s all a hundred percent things that you wanna do. And this person’s over here doing 50% now, guess what happens when you don’t have that reliability?

Jeff: And that person goes away. Now you’ve gone from a hundred percent and 50. And now you’re taking all that work back. So now you’re doing 150% and you have to go through hiring again to find someone to train, to do the other 50%. And so you can go back to a hundred percent. That’s the freaking story that I hear every time.

Jeff: And I can tell you this, our client retention rate is 97.2%. There’s not a single time in my entire career of eight years of VA staffer has a client ever come to me and said, you know what, Jeff, I don’t think this VA’s gonna work out because I really miss doing my own emails. And I really miss taking my own meeting minutes and I really miss doing my own order fulfillment, like never

Brent: Actually my name isn’t really Brent. And I’m just Brent’s assistant. So you liar , 

Jeff: I’m a liar. Yes. 

Brent: I do find it interesting now that I know. Because you did said you listened to the episode with Taran Giselle and that you are gonna do an Ironman now. So that’s fantastic. Want my help in doing that?

Brent: So I appreciate that your assistant added all those extra details in oh, that’s horrible. You’re training for your first Ironman. Which I think was Coeur d’alene that they said you were doing so very exciting. 

Jeff: I’ve been to coeur d’alene it’s a beautiful place. yeah. Good. But yeah. But 

Jeff: that’s a great place because see, people don’t know the context of this funny conversation we’re having right now, but I’ve never ran in my entire life, except for maybe when I was in high school. And it was like required physical education class. Okay. And by the way, I grew up in a really poor area called Mooresville, North Carolina, which it’s better now.

Jeff: But back then, NASCAR cap, the world, my school was so poor that they Bused us over to Duke university to do our mandatory physical education, cuz we didn’t have a track but now here I am turning 40 this year and I’ve ran more than I ever have in my entire life. As a matter of fact, I’m looking at my total distance here, which I think you’re gonna be very proud of by the way.

Jeff: Right now, for those of you who are listening in I’ll rate off the numbers. But I have ran in the past 20 days, 54.7 kilometers. I’ve ran 76 times and I’ve ran a total of 9.93 almost 10 hours. And I’ve lost 10 pounds by the way. 

Brent: That’s great. Wow, fantastic. Good. So that, that you’re getting ready for that Ironman.

Brent: And that’s so exciting. So as we close out the show, I always give everybody a chance to give a shameless plug about anything you’d like to plug. Yeah, Jeff, what would you like to plug 

Jeff: today? I’d love to connect with you guys on LinkedIn. Jeff J. Hunter on LinkedIn. If you are, thinking about, if you hear this and say, you know what, I probably need an assistant.

Jeff: You can check out VA staffer.com, schedule a strategy call on there. It’s completely free. And by the way, my team’s job is to disqualify you. We’re very picky. We only actually take on about five to 10 clients a month because that’s, it’s hard to hire at the rate as finding really good people is very hard.

Jeff: We’re probably just as picky in hiring people as we are finding clients. I’ve definitely learned that there’s many times in life where I should have never taken somebody’s money. So I always tell people to make sure it’s a really good fit. And if we can really support them because that 97.2% retention rate, I’d like it to be a hundred percent, I know things happen, but usually what happens is when people come with us come and hire with us.

Jeff: We don’t do any marketing and sales outside of doing like this and the shows and stuff. Most of our growth over the past year and a half has actually just been from working really hard on just keeping client relationships. And usually they add on they’ll hire a second VA or things like that. Anyway, that’s my shameless plug for VA staffer.com.

Brent: Perfect. Jeff I look forward to seeing you at the next Ironman event that we’re both attending and I wish you all the best in your running world. I know we didn’t I always end up getting running. Into my podcast. So I’m glad that that we got that in. And I will put all these in the show notes.

Brent: Again Jeff, it’s been great having you on the show. Why don’t you tell, as we close out, just tell ’em how they can get ahold of you. 

Jeff: Jeff J hunter.com has my socials and stuff on there. If you guys wanna learn more about VA staffer or VA staffer.com. Thank you so much for having me, Brent.

Learn to Love the Popup with Kyle Stout

Episode Summary

If you can do one thing to speed up the growth of your email list, “learn to love the popup.” Kyle Stout answers some of the most crucial questions regarding your email marketing strategy, such as knowing if you’re sending too many or not enough emails and what to do if you’re still sending every email to your entire list. He also helps us understand some of the common pitfalls merchants fall into with email marketing and how to avoid them altogether.

Transcript

Brent: Welcome to this episode of Talk Commerce today I have Kyle Stout. Kyle is the founder of Elevate and Scale, a email marketing agency. Kyle, go ahead, and introduce yourself. Tell us a little bit about what you do day to day and maybe one of your passions in life. 

Kyle: Thanks for having me.

Kyle: Day to day is pretty much working with eCommerce businesses, with their email marketing helping them increase sales in their sales process drive up customer lifetime value and also just long term keeping a healthy email list. So people stick around and wanna buy. And then yeah, outside of work, I I’m really big into fitness.

Kyle: I love to get active and hang out with family and friends and get outside. 

Brent: So let’s just dive right into email marketing is email marketing still relevant today? 

Kyle: Yeah. So it’s funny cuz you always hear every few years or so the email marketing is dead thing comes about, but I feel like it’s only marketers that say that as a joke and it never really is something that’s ever.

Kyle: Something that actual users or business owners are saying, but email marketing to me, why it’s always been relevant is because it’s a platform where you have direct access to your customers and you own that platform. And over time, as we’ve seen attention shift from different social media platforms and things go from maybe where we were a lot heavier and blogging in the past, and then it shifted to social media.

Kyle: Email marketing was there was tried and true all along. And right now, especially with paid media costs all over the place and a lot of uncertainty in the market. I really think that over the next year or two, you’re gonna see people revisiting their email marketing strategy because a lot of businesses have I don’t wanna say totally neglected it, but maybe just, didn’t realize that they weren’t doing as much with it as they could.

Brent: And do you think that email is what we’ve discussed? That it’s still important, but so from a strategy standpoint, how much of that should be put back into email and how much should be put onto social and other channels that are out there? 

Kyle: Really, I think ideally you have both. I think of it as email marketing serves as a great function to help you get a better ROI from your top of funnel marketing.

Kyle: So you still wanna have your social media and doing anything you can to bring in new leads, bring in new customers and email marketing, cuz there’s two ways you can look at it. Part of it is just having some automated systems in place to maybe to help optimize your sales process. So help you get more revenue from the traffic that you’re already getting to your site.

Kyle: But then once you’ve got this growing email list, you’ve got this database of people that you can nurture and continue to get repeat sales over time. I really look at it as, partially something to help you get a better ROI from your top of Mar top of funnel marketing today, but also just helps you get better lifetime customer value in the long term.

Brent: Do you think one of the big mistakes that merchants often make is marketing the same email to every single client on their list. 

Kyle: Definitely it’s one of the biggest mistakes I see is that, and again, a lot of times people just don’t know any better. Like they’re just going off of that worked in the past and it just wasn’t email marketing and all marketing, just wasn’t quite as nuanced in the past, especially digital marketing.

Kyle: But yeah you really wanna personalize the content. So you want to be segmenting your list and sending different messages to different people. That’s most likely to resonate with them. 

Brent: From a personalization standpoint. Is there any particular strategy that you. Talk to clients about, and I just I’ll frame that in the sense of, at some point it gets a little creepy when it’s too personal.

Brent: Is there a balance between the two? 

Kyle: So yeah, there’s a lot of new technology where they’re trying to, totally personalize the email and. Talk to you, Brent, specifically about things that I can imagine where it’s gonna get really creepy, like what you’re saying, but really what I’m talking about more is at a higher level, just being able to segment people on your list and there’s different.

Kyle: Ways that you can segment. So you can segment people on different profiles based on if they’re a lead that’s never purchased before. And then you have customers who have purchased one time and then you maybe have repeat customers and then maybe you have VIP customers, and those are different groups that you could segment and then send a different type of message.

Kyle: Because the VIP customer, you’re gonna talk to them very differently. You don’t really need to educate them on your product anymore. They’re like the close friend they’re in on the joke they’re in, on all the inside jokes, they know what’s going on. And you’re also gonna wanna show them more love for being a VIP, whereas a lead, they might be almost a stranger and they might need to be reminded of some of the value propositions and the brand story and all that other stuff

Kyle: that they’re just not maybe aware of. and then there are other ways you can segment so you can segment based another really great way to segment would be, especially for e-commerce businesses would be based on engagement. So breaking down groups of people you can have, you can create segments for example, like a 30 day engaged group, meaning that everyone in that group have engaged with your emails or your website,

Kyle: however you decide to define it in the last 30 days. And you can expand that out to 60 days, 90 days and so on. And every business will be a little different, but after you send emails to these different groups, you’ll get a high level overview of not only how engaged they are, but how they respond to different offers.

Kyle: And you’ll find that the people who are most engaged, they wanna get more emails from you. So you can actually email them more often, or you can send them a more diverse content. Whereas the people who are less engaged, it might not be that they don’t like your brand or don’t like your products.

Kyle: It could just be that they only wanna know whenever there’s a really big sale going on or a new product coming out or something like that. So you might email them less frequently. 

Brent: Maybe walk us through how they test that engagement. Do you look at open rates, click through rates, things like that for the engagement.

Brent: And then if they seem like they’re engaged I know it still goes back to a tipping point where, Hey, you send ’em something every day, pretty soon they’re gonna unsubscribe. And I know there’s a magic amount of time for every engaged customer, as opposed to somebody that’s just wanting to learn.

Kyle: Yeah. So the way I do it is you have your key metrics you wanna track. So open rate, click rate conversion rates, and you can first, let’s just say for an example, send an email out to a 30 day engage group. Actually, one way, if you just wanted to test this, if you just wanted to say over the next week, do a quick test and get a baseline for all of this.

Kyle: You could send that one email out to your 30 day. Engage. Look at the metrics and then that’s, there’s a baseline for you. And then send the same email out to the 60 day engaged group and exclude the 30 day engaged folks, because you don’t want to that to throw off the data and look at the metrics there

Kyle: and then you want to have a certain threshold, like you said, of where you don’t want to go below that. The thing about open rates is they are a little inflated right now because of iOS. But traditionally it’s all the rule of thumb has always been, you don’t wanna go below 20%.

Kyle: If you send out to that 60 day or 90 day engage group, and you see the open rate fall below 20%, then you know, okay, that’s the threshold. I need to pull back and focus more on these groups up to that point. And then maybe only include those people in the big, like the black Friday type of promotion and, but so open rate’s one thing, but you really also wanna look at click rate.

Kyle: And this is gonna vary a lot from brand to brand. There’s industry benchmarks, but honestly it’s all over the place. So you really wanna look at just historical data for your company and compare that. Sending that first test to the 30 day engage group, and you might find that even the click, rate’s not where you want it to be with that group.

Kyle: But that’s a better determinant of engagement right now than open rates, because a lot of times open rates are higher. They’re showing as falsely higher than they really are. And clicks are also not only is it easier to get someone to open. It’s harder to get people to click and we’re not getting those false readings on the clicks right now

Kyle: like we are with opens. So I would wa I would pay a little bit more attention to that as you’re doing that whole test. 

Brent: When you include engagement, do you include social media? Just website visits, if you’re tracking holistically across and you know that this user’s, they’re looked at Instagram, they’ve visited your website but they haven’t opened an email.

Brent: All that goes into the fi the factor of some kind of engage. 

Kyle: Yeah, so you can go, you can get into social media and all that. In general, I stick with email and website engagement. So looking at, if they’ve either gone to the website or you can even create these different segments that are targeting product interest.

Kyle: So whenever someone visits a product page in the last timeframe, or they’ve added it to cart in that time, Then they are in the engaged group, whether it’s based on pure engagement across the board or interest in that particular product 

Brent: You mentioned iOS a few times and there’s the post iOS 14.

Brent: That is blocking a lot of of information that we can see through some platforms. Is, has it changed the landscape on how you measure engagement? 

Kyle: It really is one of those things that’s been blown outta proportion. We were all like bracing ourselves for it. And, and preparing by looking at our engagement groups.

Kyle: And when I say that, the segments that we create and someone’s email account and doing some reporting on, okay, it’s going live now and what’s gonna happen but honestly, the way it’s played out. It’s inflated the open rates. And so we just don’t really pat ourselves on the back as much as we used to about open rates and

Kyle: that’s been the biggest change, I have not seen a significant change in impacting these engagement groups to where or these engagement segments, I should say to where, we’re getting this negative feedback. Like people shouldn’t have been included in there or the conversions.

Kyle: And actual purchases don’t seem to line up anymore with the clicks and everything else with the email. It’s really just an inflation of open rates has been the main thing. 

Brent: Yeah. Maybe explain to our listeners why open rates would go up? 

Kyle: Because it’s showing that the iOS devices that receive the emails it’s showing them as having opened the email, regardless of whether or not they didn’t.

Kyle: So this is gonna be, this is going to come down to your list and lists that have way more iOS users on their list. They’re gonna have more skewed data and if you want to get. Let’s just say, you feel man, this is really clouding my data and I don’t like this. I just want more clarity.

Kyle: What you can do is similar to what I was mentioning earlier, where maybe you run a test where you create some different segments. You can create segments to exclude iOS devices, and then send an email. To you can go pretty wide or, whatever you would normally do, but take out those iOS people and then see what the numbers are.

Kyle: And. . 

Brent: Yeah. And it sounds like the amount of segments isn’t like too many segments isn’t necessarily bad until you get to a segment of one user . 

Kyle: Yeah, exactly and also, so that’s really the thing, the bigger your list is the more room you have to do to create more segments, which gives you more room to send more emails without everyone getting every email. And that gives you the potential to scale up the revenue you get from your email marketing. But like you said, if you try to take it too far, too early, you’ve got groups of, 5, 10, 20 people. It’s probably not worth all the effort. 

Brent: As a new business, you mentioned earlier growing your list a lot of people look at buying a list from somebody and I think that’s not the way to do it and probably illegal in a lot of countries, but, and if you send them email, I should say what do your recommendations around growing that list and making sure that it continues to grow and doesn’t decrease.

Kyle: Okay. Yeah. So regarding buying lists and I’ve never personally done it, I’ve never seen it work. I’ve known many business owners who have shared that they’ve done that, or, and I’ve seen the analytics and I can tell you, I’ve never seen it be a really worthwhile endeavor. And especially if you consider all the risk, but the damage it could do to your domain and all of that potential legal risks.

Kyle: I wouldn’t even mess with. So it’s gonna come down to the type of business. So for e-commerce businesses, oftentimes you’re not going to do the typical lead magnet type of approach, like a service business would. But you definitely can. So the first thing is you wanna look at your website and you need to have some sort of offer to get people in.

Kyle: So I know a lot of business owners hate popups. They just personally hate them. They hate going to a website and seeing a popup, the first thing they land on the site. And. Honestly, I used to hate popups too, but knowing what that popup can do for your business, you will learn to love them.

Kyle: You can create popups in a way that aren’t so intrusive. You don’t have to have the one that pops up as soon as they hit the page. You also don’t have to have it take up the entire page and you can make it very easy for people to leave to exit out of that popup. So in general, I would recommend at least having an exit intent popup.

Kyle: On your website, that fires, when people are leaving and give them some sort of offer to get into your email list for eCommerce it’s typical, but the thing is it works is usually you will see a small discount, a coupon code that they have to sign up for a 10 to 15% discount.

Kyle: The bigger the discount, the more opt-ins you’re gonna get. But ultimately it doesn’t necessarily mean those would be the best customers long term. So I don’t think it’s necessarily the best idea to go really aggressive and go 20, 30, 40% 10, 15% works. It could also just be free content.

Kyle: It could be a free guide. Or it could be, a free trial. So there’s different ways you can do it. Doesn’t always have to be a discount. It could be a value add where they get something extra for free with their purchase, and that’s gonna have high purchase intent cuz someone who’s signing up for that is already thinking well I’m planning on making a purchase.

Kyle: So I want that. I want that free bonus. So you definitely gotta have something. Your website itself, then when it comes to getting people to your site to sign up, that’s where it varies. From what I’ve seen in the last, six months of what’s working with paid media. So a lot of times I’ll be working with the brand and I’m working side by side with whoever’s running their paid media, and there’s always this temptation to have the whole ad campaign be based around, signing up for something free on the list.

Kyle: And I can say that the majority of the time, those freebie seekers. They don’t purchase and they don’t stick around and they really drive down the engagement of your list. I’ve found what’s better, is to go after customers and send ’em to your site and have your site optimized to where they’re going to see these signups.

Kyle: So see those popups or whatever you have in place and get. Actual interested customers to sign up for the offer thing you don’t wanna have your first impression going out to cold traffic or going out to strangers, be some freebie thing. You really want them to be interested in the actual products or services that you sell.

Kyle: And when they get to your site, they just find out that, oh, it’s like a surprise. They happen to get this extra thing that incentivizes them to sign up.

Brent: So I’m gonna highlight two things. So learn to love popups. I like that one, but the freebie seekers, I think, is something I’ve heard over and over again where people think that getting your list bigger is gonna be better no matter how you get that name.

Brent: And I suppose it doesn’t hurt to have that user, but having that pop up or giving him some value is probably more well, is more important than just the free thing they’re gonna get. So just talking about mistakes and I can think of one mistake that’s very annoying that I dislike is when you’re signed into a site and you get that exit intent pop up, or you bought something from them clearly, you’re their customer. 

Brent: Worst case is you’ve signed in and you get a popup to sign up for their email, super annoying. But even if they know your cookie and theoretically cookies are still around, we should block that popup. If you know that person, especially if they’re on the list. 

Kyle: Yeah, and that’s a really easy fix.

Kyle: In your software. We like to use Klavio most of the time with eCommerce businesses specifically. It’s just a box. You check whenever you’re building out your form, there’s an option to exclude current or existing Klavio contact. So anyone who’s already signed up, they won’t see.

Kyle: And it’s actually an opportunity to present them with something new. So maybe it doesn’t have to be a popup now for an exist. Contact but maybe offer something up to get their birthday so you can surprise them on their birthday later, or, just get more information about them to enrich that customer experience.

Kyle: So there are times when you would want to target the people that are already signed up specifically, but, you wanna do it in a way that adds some value to them? You’re no longer just trying to get their contact info anymore. So in general I like to just leave them alone for the most part. 

Brent: So may, maybe you could go over a few more mistakes that companies typically make for email.

Kyle: So first one the biggest one is what you were saying earlier. People just emailing the entire list instead of, trying to. segment and somewhat personalize the content towards people. Another thing is email frequency, and this goes both ways. Cuz a lot of times you’ll have smaller businesses emailing too frequently because everyone wants to grow.

Kyle: So they want to grow faster. Email is a great channel for driving revenue and they just get a little I think in my opinion, they get a little too excited too quickly. They get a taste of the email of, what it’s like to send an email. And all of a sudden you see a bunch of users on your analytics dashboard, on your site, and then the sales come in and you burn out your list way too quickly by doing that.

Kyle: You haven’t even let this list grow and mature and let these people stick around with you for a while. Then on the other. You’ll have big businesses that have a huge list. And let’s just say they’re only getting five, 10% of their total revenue from email marketing. a good gauge of if your email marketing is, doing a good job, at least when it comes to the situations where people can click the email and buy the product, they don’t have to hop on a sales call or any of that would be if you’re generating 30% of your revenue from email marketing, you’re doing a good job with your email marketing.

Kyle: And if you’re below that, then there’s probably either some room for improvement with what you’re doing, or there’s also potential that maybe you’re just not emailing enough depending on the situation. So yeah, it, that the frequency thing goes both ways. And then another big mistake. These are like the greatest hits right here would be only emailing your list when you have a sale or a promotion.

Kyle: And again, it goes back to sometimes people just get, they see what that does. They see that spike in revenue and they don’t like to send an email out that doesn’t get a massive spike in revenue. and I definitely encourage you for the major holidays. Yeah. If you wanna run a promo every major holiday, go for it.

Kyle: If you get into a sticky situation and you need a quick infusion of cash, okay. This is a channel you have available to do that. And if you’ve been taking care of your list, then it’s okay to do that. Whenever you need to, but. But really you want to be showing up. You wanna have different reasons to show up and educate people, inspire people, entertain them, give them other content.

Kyle: And the big thing is try to get them to buy without having to discount, give them reasons to be excited about your product, to care about what your product does, the problems that it solves for them without having to give them a discount just solely, because it’s a good offer. 

Brent: Yeah. I remember interviewing the founder of Gigz.

Brent: They’re a gifting service and instead of giving them a discount, they would give something to somebody based on a purchase. And they always equated discounts with with the decreasing revenue. And if you do too much of it, obviously you get people dropping off. Is there a point in which you send too many emails and that becomes counterproductive?

Kyle: That’s typically what I have seen over the long term. And it’s deceptive because at first you can get away with it for a while, because a lot of times let’s just say, let’s just say, you’ve been running your business for several years. Things are going well. Maybe you switch to a different team or person who’s managing the email marketing and they want to drive up those sales numbers because it makes them look good.

Kyle: And maybe they honestly just have pure intentions and they think it’s what’s best for your business, for whatever reason. And the people on your list, aren’t used to getting these deals all the time. So they might actually take advantage of two to three back to back sales. They might just reach into their wallet several times in a row.

Kyle: And then you would think as the business owner, oh man, every time we do a sale they keep buying, they must love it, but it never lasts. It really never lasts. And then by the time people notice the decline because every email you send out, you’re gonna get some unsubscribes. If you have a big list, you’re, there’s always gonna be, there’s a million of reasons why someone would unsubscribe.

Kyle: It’s just a normal part of email marketing. It doesn’t mean that you’re doing anything wrong or they hate you. But that you keep emailing more and more. And you keep doing these big promotions more and more. You’re going to get more of that. And eventually if you’re not paying attention, you’re losing more people than are coming in.

Kyle: So that’s one problem. But then the people who are sticking around now, they’ve gotten trained to where I they’re only gonna buy. When you offer a discount. So now the random impulse purchases those go away. And now they know, they always know there’s another sale right around the corner. So why would they, in fact, I’ve found myself as a customer doing that with companies where I genuinely do like their products, but I always get this.

Kyle: It seems every time I would make a purchase, they would have a sale a few days. So I swear it was almost like, I always, I wondered if it was planned or something, and I’d have this regret. I’m like, if I waited three days, I could have saved a lot of money and I got to where I’m like, oh, I only buy whenever they have a sale now.

Kyle: Cuz they have ’em frequently enough. So why not? 

Brent: Yeah, I can remember buying a pair of Cole Haan, and having that exact same experience where they’re constantly bombarding you with emails and then suddenly you buy something and then you get another email. That’s 5% bigger discount or something. It was anyways, I did unsubscribe from Cole Haan eventually, cuz it was so annoying when I got that.

Brent: And I guess that just illustrates the point that there is never. Nobody has it down. And Cole Haan is a pretty big company. And you’d think maybe it was just my own experience, but big companies make these mistakes and they’re still making these mistakes. So it’s always good to be looking at all those numbers.

Brent: What are some of the key metrics that, that a marketer should look at to ensure that they’re not making some of those mistake? Is there leading indicators that say, oh, I’ve sent five emails this week. Maybe that’s too many. 

Kyle: Yeah. So there are, and actually I want to say something really quickly about what you just shared, because this is a really common misconception I think is that when people look at these big brands, you assume that this it’s this big successful brand.

Kyle: I know they’re spending a ton of money on their marketing. I know they can hire the best consultants. They can get the best information they’ve so they must know what they’re doing. And. I see them just making terrible mistakes all the time. My theory is that it’s because when they get to a certain level where they can bring in so many people, they can just, they just have the money to buy so much traffic buy.

Kyle: Acquire so many new people onto their list that they can burn through it. They can afford to burn through a lot of people. I don’t know what’s going on with the overall picture with their marketing, but I would definitely say if you, if your gut is telling you I don’t know, but this big brand is doing it.

Kyle: Definitely question it because what works for them will not usually work for most small businesses. But so looking at your metrics, of course you want to month to month, you should be looking at your averages, open rates, click rates, conversion rates, and also there’s also certain things.

Kyle: So for example, with an e-commerce business, you can have what’s called a welcome series or a welcome series for non buyers. Which is the typical automated email sequence that someone will go into when they first opt in through that popup. That one is very sensitive to the traffic. That’s hitting your website.

Kyle: So that’s one way to look at I know whenever we see the sales. And just actually overall engagement, not just sales deviate from the norm, pretty aggressively, either negative or positive that company has made some changes with their paid media. And sure enough, I’ll have case we’ll have a call and be like, okay, we’re seeing some decreases what’s going on.

Kyle: I I wanna get more context to make sure it’s not just what’s happening with the emails. That happens more often than not it’s that entry level series is a good way to gauge the quality of traffic that’s coming in. So that’s one thing to look at. but you can also run engagement reports on those different segments that I talked about.

Kyle: So having those key segments that you’re gonna be emailing most frequently in Klavio, and in the other tools, you can run an engagement report where you can see the open rates, click rates, and average order value of that particular segment. And you can see. People are starting to disengage more. And if you’re looking at a highly engaged group, like a 30 day engaged segment and you start to see people disengaging in that one, that’s a really bad sign.

Kyle: Okay. Something is definitely wrong. We’re hammering this list or this particular segment way too hard because just by its very nature of how that segment is created, everyone in there should. engaged. And then another thing to look at something that people might have to Google is you can look at the unique reach.

Kyle: So the unique opens the unique clicks on your email list. So that would be the total unique people, cuz it’s one thing to. A lot of times you’ll have the same people who continue to open and click all your emails. You just have a lot of people who are engaged, but you’re not seeing the big picture of everyone on your list.

Kyle: So when you look at the uniques, whenever you measure that, so that’s just a key there. Whenever you’re, if you’re Googling this or you’re talking with your email service provider, then you can see how many unique people you’re reaching on your list. Cuz ideally you wanna be reaching more people month to month.

Kyle: So if your list is growing or even if it’s staying the same. You want to be engaging more total people, total unique people. So I like to measure unique opens and unique clicks as a way to know, okay. You know what? Even if sales were a little down this month, we’re getting more engagement from more people and that’s usually a sign of better, long term success.

Kyle: Whenever you see those uniques going down, that’s something where, okay, if we’re reaching fewer unique people, then the odds are that the sales will come down. Let’s just say sales are, steady. Those sales will come down because we’re just reaching fewer people. And we can’t always rely on the same people to keep buying and buying.

Kyle: Cuz depending on the products you’re selling, you run out of stuff where they’ve just bought it all they’ve bought all that they want or need. So you really want to be looking at making sure you’re actually reaching more people within the list that you have, and also trying to retain more of them.

Brent: And I would imagine that these numbers all flip flop, when you’re talking B2B to B2C, like it’s a completely different arena when you’re talking, how you engage with the B2B customer compared to how you engage with the B2C customer. 

Kyle: Yeah. B2B is very different where. See B2C is I guess what I’m talking about.

Kyle: When I say B2C, a situation where it’s not gonna be like a, a really expensive product where someone has to hop on a sales call or anything like that. It’s something where they can click the email and buy right there. So you get really objective data. With B2B it’s a little trickier because you have more things involved in closing that sale.

Kyle: So a lot of times you’re using email marketing to get people into a sales call. And then from there it could be that you follow up with email after that, and then you get the purchase. So that’s one way to measure it, but you can’t neglect what happened during the human to human interaction.

Kyle: Of the sales call. So you have to be tracking that. So a lot of times you can’t get clean metrics where a lot of times people aren’t just going to click a link in an email and pay the invoice like that. It’s gonna be a manual process where a salesperson emails them an invoice, and then you get that and then you get the payment that way.

Kyle: So from there, it’s really more about mapping out the whole sales process step by step. So looking at each stage of your sales process, adding in automations, when you can so automated email or SMS or whatever you wanna. In between each of those steps where you can in between the human interactions. To try to move people along and you can measure that you can measure opens and clicks and how many people are moving through.

Kyle: And how many people signed up for the sales call, but then how many people actually showed up? So you need to start tracking all of that stuff as well. So it’s not quite as clean as it can be with B2C, but there’s still a lot that you can measure and give you a pretty good idea of what’s going on.

Brent: I think the important part there is putting it into a place where you’re tracking everything. So some kind of a CRM , where you manually put notes in for. Phone call or even better you call directly from the CRM. So that call gets recorded as a call with the client and then that engagement would then just play into your engagement with the customer, no matter if it’s in person or on the phone or through some kind of a service.

Brent: Kyle, we have a couple minutes left here. If you had some great bit of advice in 2022, to give somebody that wants to start email marketing, where would they start? 

Kyle: You need to have an offer and you need to at least have someone on your list. You definitely need to have a way to get people on your list.

Kyle: But’re but really the most important thing that it comes down to. And I think what’s. Forgotten is we look at all these systems and ways to optimize everything. And we need to get back to remembering that there’s another human on the other side of this email and just thinking about, okay, what content are they really going to care about?

Kyle: Or when it comes to my product or my service. What really matters to them, what do they really care about and crafting it around them and having your emails be more conversational. And it doesn’t mean you can be salesy or ask for the sale and all of that. It just means being more thoughtful to what’s going to help them make a buying decision.

Brent: One last question or advice that you could give the client, then learn to love popups, right? And let’s just say you don’t have HubSpot or Klevio or something like that, but you just want to get ’em into, let’s say you’re using MailChimp or whatever it is. 

Brent: I remember hello bars or whatever it was called before. Is there a free tool that you would recommend to get that popup going on your website? That’s fairly easy to install and get running on whatever website you’re running, whatever platform you’re on and you can install your popup and get it rolling.

Kyle: I think MailChimp has the popup capability. But most of them have that built in. And then there’s a bunch of like fancier tools where if you wanna get more advanced, honestly, the free tool that’s within your email service provider, most of the time is good enough.

Kyle: It’s gonna take you a very long way. You don’t need to get any of the other fancy tools. A lot of times those things you it’s just, you don’t have enough traffic. For the small amount of performance difference that you’re gonna get to even matter. It’s just gonna add an extra cost and some of those things potentially even weigh down your site and slow it down.

Kyle: If you’re e-commerce, you can go with Klavio. You can start out with a free account and you can use their free you can, get a popup going. I believe MailChimp has a popup tool. I just haven’t used MailChimp in so long, but pretty much all of ’em have a popup tool it’s already gonna be included.

Kyle: So if you’re, even if you’re paying for the cheapest plan, you already have that. I just say, don’t even overthink it right now. Get a good offer on that popup, get it live and then focus on getting people to show up to your site so they can see 

Brent: it. 

Brent: It. All right. Cool. Love your popup. I’m gonna keep saying that over and over again.

Brent: Kyle as we close out, I gave everybody a chance to do a shameless plug about anything you like to plug, what would you like to plug today? 

Kyle: Okay. Yeah. For anyone who’s interested in elevating their email marketing, you can go to elevate and scale.com and there is a link there to book a call, which is not a traditional sales call, even though I know everyone says their call is not a sales call.

Kyle: You will get information prior to that call about our service and everything. But the point of that call is to give you clarity around how email marketing fits into the overall strategy for your business. So we’ll actually break down your sales process on that call. If you have numbers that you can share, that would be awesome, cause it makes it even better.

Kyle: And we can identify where the most immediate opportunities are for you right now to get more revenue from your existing sales process. And then talk about a strategy for you to grow your business over the long term with email marketing. Perfect. 

Brent: And I’ll put I’ll put those links in, in the show notes for this Kyle Stout.

Brent: Thank you so much. Thank you for having me. It’s been a great conversation. 

Kyle: Yep. Great. Thank you.

Unlock the Power of Your Customer Journey with Nadav Charnilas

Do you want to improve your conversion rates, decrease abandonment rates improve your acquisition efficiency, and spend? Have you ever created a customer journey? Nadav Charnilas helps us to understand and answer these questions and more.

Nadav is with Namogoo. Namogoo helps to maximize each online journey’s potential for eCommerce brands by experiencing everything through the customers’ eyes. The Namogoo Digital Journey Continuity Platform automatically gathers non-PII data on customer behavior, website, product, device, and environment to give each customer what they came for and get everything else out of the way.

Transcript

Brent: Welcome to this journey with Talk Commerce. today I have Nadav Charnilas. He is with Namogoo. Go ahead and tell us what you do in a day to day role and maybe one of your passions in life. 

Nadav: Thanks, Brent. So like you said, my name’s in Navav. I am the director of product marketing here at Namogoo.

Nadav: We’re located in Lia in Israel. I run all the product marketing functions at Namogoo. So that means all the positioning and the messaging and the sales enablement working with product and working with sales and across all the different roles here Namogoo. So yeah, creating all the all the collateral around our different products.

Nadav: As far as a passion is I used to be a passionate runner. I used to run like half marathons every few months, but then I had kids. Not so much anymore. 

Brent: yeah, kids will do that. There’s always time in your later in life to get back into running. So don’t get me started on that. Good. So let’s dive right into customer journeys.

Brent: For just a little bit of background, let’s help our listeners understand what is a customer journey for a brand. 

Nadav: right. So that’s everything. So if you’re a brand or an e-commerce brand it’s everything that your visitors, your shoppers go through from the minute they see, become aware of your brand to the moment they.

Nadav: Go to your website and browse your product and then go to check out and put things in their in their cart and check out and convert. And then even how do they come back to your website and their journey back? So it’s their entire experience from creating awareness about who you are coming to your website, shopping and converting.

Nadav: And then hopefully coming back and creating loyalty. 

Brent: And I know that if you’ve ever, if you’ve ever attended a tech conference or they’re talking about platforms to do this a lot of times as a merchant, you feel, or you could feel as though this is only for enterprise platforms or huge retailers in the world is customer journey good for anybody? Any size store? 

Nadav: Yeah. Every store has a customer journey, right? Everybody does acquisition. Everybody brings people into their site and you wanna, and your shoppers they have to go through a few steps on their journey until they find the product that they want until they realize that they trust you as a merchant.

Nadav: Until they’re ready to. So yeah, everybody has a journey and everybody needs basically optimization of their customer journey because it’s customer journeys are inherently complex. No matter how big you are, obviously the bigger you are, the more complex it is. But the level of complexity, even for smaller stores is immense.

Brent: And what’s, what are some of those challenges then as you move into trying to find out what is your customer journey? 

Nadav: Yeah. So we at Nomogoo we’ve actually been working with, so we started off working with some of the world’s biggest eCommerce brands. And now as we’ve matured and as we’ve grown we’ve opened up our platform to smaller brands, mid-market brands, SMBs.

Nadav: And what we found is that everybody in the market, in the e-commerce market and more so mid-market and SMBs they face I think basically there’s a couple of like segments of issues that they face. One issue is with their marketing stack. One place is that it’s really hard.

Nadav: Everybody wants to move the needle on the KPIs in their customer journey. We even did a survey a while back of e-commerce leaders. And we saw that e-commerce managers, marketers, 75% of them have tools and data at their just disposal, but they still struggle to, to put it all together to act on their customer journey.

Nadav: They have a hard time maintaining that data stack and that marketing stack. They have to work with a bunch of different functions in their organization. Sometimes they’re not always aligned in priorities. It takes a long time. And even when those things are set up, those tools kind of work in silos.

Nadav: They don’t roar in the same direction. They’re all roar in a different direction. So it’s really hard to align those tools around their segments and the messaging, and it creates problems. It creates a very hard experience in actually moving KPIs in the direction that you wanna move.

Nadav: And then the other set of problems is what every e-commerce manager or whatever marketer at an e-commerce company wants to do, which is improve conversion rates, decrease abandonment rates improve their acquisition efficiency and spend. Create brand loyalty and get people engaged in coming back.

Nadav: And what do you do? What are the tactics that you use? What’s the data that you use? What are the segments that you use to move those KPIs in the right direction? And beyond that there’s a slew of other problems, right? So there’s privacy issues now with GDPR coming up or GDPR existing and the cookieless world coming up and and issues around all of that which makes it difficult to use the data that we’ve all been used in using there’s testing issues.

Nadav: And I think pretty ubiquitous around every e-commerce brand is there’s a blind spots in the customer journey. So we don’t know what we don’t know that’s going on in the customer journey. It’s hard for us to see what our customers see within the journey. 

Brent: Yeah. So I think you the two points are the two main points you talked about the moving, the KPIs, improving conversion, things like that.

Brent: The first part of that is there is a myriad of data. And how can you help your marketing professional or marketing manager harness some of that data and put it into a place where you can actually do something with it. 

Nadav: So that’s why we created at Namogoo, why we created something called we’re calling the customer journey operating system.

Nadav: And the way you can think about it is if you think about your computer, you’ve got a bunch of apps on there. But you really couldn’t use them and take advantage of them. If you didn’t have an operating system, it would just, you’d have to know the code, or know which code to go to, or it’d be very difficult and complex.

Nadav: And that’s why, what’s why window Microsoft and Apple, they created operating systems. So you can have one place to go and you can. Use all your different apps, right? So that’s, if you think about the customer journey, it’s very similar, both whether you’re thinking about the different data points that you need to use and all the different tools that you want to use across analytics tools and personalization tools and customer market, customer communication tools, and all these different tools that exist in silos.

Nadav: You want one place to go where you can activate all these different things. So that’s what customer it is what customer journey operating system does. It. It brings in all these, all the data points, all the events and segments that you as an e-commerce manager has have on your site. It standardizes the data for you.

Nadav: So it’s all defined in the same place and it lets you activate those different data points across your different tools, whether within. CGOS which is what we call customer attorney operating system, or across your own tools. So whether it’s Google ads or Facebook ads or something like a dynamic yield you can use your tools with the data that’s already centralized and standardized within CGOS.

Nadav: And that data is also based on, like I said, Namogoo’s experience with eCommerce, right? So these data points are proprietary data points that are pretty unique, right? So there are things like your shopper that comes to your site. What device are they using? What’s the, what’s their internet connection.

Nadav: What’s their device speed strength. Do they have shopping extensions like honey or Amazon shopping, Simpsons built into their browser? So a lot of these things that we usually don’t think about when we’re thinking about conversion and engagement that we found are actually really important to understand what the customer intent is.

Nadav: The shopper intent is whether they intend on buying or they intend on abandoning and taking action on those things. So we’ve built. All these data points based on our huge network of 1.2 billion unique users that create indications of intent of the shoppers. So basically we’ve created an operating system that is one source of truth for your data points.

Nadav: So your segments, your events, your attribute. You can grab them immediately from CGOS without the need of, to talk to a developer or an analyst or any. So you, as a marketer you implement this tag on your site and you get all those things prepopulated, and you can use them across your tools. And on top of that, we’ve also got AI, which bubbles up different insights for you.

Nadav: Whether they’re correlations between data points and KPIs, or there’re interesting things that are happening within your sites data that we kind of pinpoint for you. So I think to your question it’s a long winded way of getting to your question. We make. Working on that data and moving the needle and understanding what’s important and working across your tools much easier than it was before and much more impactful.

Nadav: So you can actually see the things that really make a difference for understanding when a user is intending on purchasing or when a user is intending on abandoning or anything else that you’d like to know about your shoppers. 

Brent: Yeah, that’s fascinating. Even digging into the extensions that they may have in their browser.

Brent: If you were looking at the customer and you wanna know, or you wanna personalize their journey, how do you balance between. Being a little bit too personal to just being anonymously personal. So we talk about the runner example, that this person’s a runner. You give them a group of runner things rather than giving them specific things that are so to them that they’re like, wow, this they’re like watching me.

Nadav: I think that’s something that we at Namogoo were very aware of. All of the data points that we include in in CGOS they’re all cookieless, non PII, so they’re all GDPR compliant. So what does that mean? It means that the data points that we take are not things that are considered infractions of any privacy laws.

Nadav: And it’s all aggregated, right? So I can create these segments based on these data points that are an aggregated to an aggregated point. So it doesn’t become. Doesn’t become like things that I’m showing you like, oh, Hey Brent, this is the exact thing that I know that you like, the color blue and that you’re a football fan or or something like that.

Nadav: So here’s the team that you like and the blue shoe that you want. It’s a lot it’s aggregated to that. So it’s personalized and it helps conversion. But it’s also still mindful of privacy laws and the general feeling of a shopper that they’re not being followed by a big brother type.

Brent: If you’re a marketer, do you want to rely more on the journey platform to bubble down those those segments? Or do you want to have some of your segments come up because you’ve relied on them over time. 

Nadav: so I think it’s a two way street, right? So the beautiful thing here is that you can actually, with CGOS you can import your existing segments from your tool, right?

Nadav: So if you have your tools in Facebook ads, or in your, a analytics tool like Adobe or anything, any other tool that you are working with, you can import those segments into CGOS and then you can export them into your other tools. If you want to. Or you can take these pre-populated proprietary data points.

Nadav: Explore what’s going on with them create correlations with other data points, create new segments and then push them out into your tools. So basically you can both use the ones that you know, or are successful for you, and you can use them as they are across your tools, right?

Nadav: Create that standardization across your tools, or you can use our AI and the things that we pinpoint for you or the things that you find yourself as you explore the data and export it into your different tools. 

Brent: And do you think that a lot of times marketers get caught up or get caught in what they’ve had in the past?

Brent: And let’s just continue with that without analyzing, looking, what is new out there and taking some of that new data in and maybe creating new segments. 

Nadav: Definitely. I think it’s, I, as a marketer can say that I’ve, I’ve fallen into that. I’ve got my same my same segments that I’ve always created based on data points that I’ve always used.

Nadav: And I try to use them again and again. And then the problem with that can be, trying the same thing over and over again, without working. Is usually not gonna be successful. And also trying to share these segments across tools is also usually unsuccessful because you have to redefine them and they’re defined differently across your tools.

Nadav: So I think both having a tool that kind of pinpoints for you, the interesting things that are happening gives you points of data that are new, that you haven’t used before. And. A company like the Namogoo with the massive network that it has knows are impactful for e-commerce brands.

Nadav: And then being able to use that in a standardized way across your tools is can be extremely impactful. 

Brent: Do you have an anonymous example that you can share about a merchant who found something that was surprising that they wouldn’t have normally have discovered if they were just using their automated marketing platform, that doesn’t track all the different things.

Brent: Cause I can see how, if you’re not putting everything into one big bucket or at least tracking everything holistically, how you could really miss out on certain parts of that data coming through. 

Nadav: Yeah I can think of, there’s a few example. I’m trying to think about which one would be probably the best one to use.

Nadav: I think one of the data points, one of the interesting data points that we have is does the visitor have ad blocker on, right? And AdBlockers can be a pain for marketers for a lot of different reasons. One can be, you can be targeting your campaign at these you can be targeting like a Google ads campaign.

Nadav: Or whatever type of ad campaign at shoppers with a, with an ad blocker. And then you’re basically spending money on somebody who’s never gonna see your ad, or you’re running AB tests on ad and that kind of muddies up your data. So we’ve had customers, vendors sorry merchants out there that, that have used that data point to block out those ad blocker, shoppers and improve their spend efficiency, right?

Nadav: Their acquisition efficiency, or to improve their AB testing ability. And that same goes, another data point that we have is is the user in incognito mode. So that, that can be also very, that can tell you a lot about that user. That user is interested in privacy. They don’t wanna maybe they don’t want to answer all kinds of questions that you want to ask them.

Nadav: So you might want to change the way you have forms for them or the different type of messaging that you show. Another type of data point that we have is is is a weather data point. This is the shopper in the general area where they are like, what’s the weather.

Nadav: And we found that different for different products. The weather can affect their conversion rate. So you can see in real time, by the way, all the data points are in real time. And they perform in real time what the weather is like for that shopper and provide them with a different offering.

Nadav: So if you’re selling hats and you know that it’s sunny, then maybe that’s the time to create ads for your hats at that time. Or if you know that there’s rain. Maybe that’s a time to offer free shipping or a free delivery if you’re sending out food, maybe people don’t wanna leave the house.

Nadav: So these things will let you do a lot of personalization in real time with data points that I in, in the research that we’ve done is not something that most marketers use. 

Brent: Yeah. That is really good though. Just jumping back into ulus and maybe the iOS 14. Privacy, things that have come up, it sounds like a lot of the things that you’re doing are naturally things that aren’t gonna be tied directly to some user’s account.

Brent: So you can anonymize this quite a bit, talk about the challenges that now merchants have, who say relied on Facebook ads for their for all their income and how that has really been hindered through some of the changes in privacy that have happened. 

Nadav: Yeah. So I, as we all know, that’s been a huge challenge for marketers.

Nadav: And I think we’re going towards a world where cookies become less and less available, for across different platforms, whether it’s Facebook or anything else. So it’s becoming harder and harder to personalize messaging and ads and even the actual, user experience on your own. Using the traditional means that we’ve always used as marketers or e-commerce managers.

Nadav: And that’s really why one of the reasons we created this solution is we have the ability to, to both anonymize and aggregate our data. And it’s all cookieless, right? It’s all, we don’t use cookies. It’s all session based data that, that is completely in line with GDPR and privacy regulations.

Brent: Just as a privacy thing though, for abandoned carts, in order for you to know that someone has abandoned a cart, they have to be logged in, you have to know something about them to be able to target them, to tell them, Hey, this was in your cart or can you know that they’ve come back again? 

Nadav: That’s a great question.

Nadav: In our product that still works if you are anonymous. So for, in most, I think in most solutions, yes, you need to know that they’re registered or you need to know who they are and collect that personal data in our solution that, because it’s session based. It’s anonymous again.

Nadav: Now if that user is registered, obviously that’s that you’re probably gonna have that data and you can, by the way, you can import that data into CGOS. If you choose to, if you are a vendor, if you’re a merchant and you’re one of our customers and you want to import that the data that you have, that personal data that you have into CGOS that’s up to you, it’s completely customizable.

Nadav: But the data that we provide that’s, autopopulated within CGOS none of that is, is it’s all cookieless. It’s all anonymized. And we can, because it’s session based, we can see things like cart abandonment, even if you’re not registered. 

Brent: right. And you can target them again when they come back to your site.

Brent: Yeah. Okay. Do you see, I think I see Apple pushing towards this really really private world and maybe Google going the other way. Is there, do you see trends from the big tech companies wanting to push one way or the other. 

Nadav: I think everybody’s going in this direction. I think Apple and Google are setting the kind of setting the scene.

Nadav: And I don’t, I personally don’t see anybody going in a different direction and even the and. And I think it’s a, for the world, it’s a good thing, right? Nobody even we e-commerce even we marketers and e-commerce professionals, we don’t wanna be tracked either. And nobody wants to feel like they’re being tracked on a personal level.

Nadav: And that’s why I think solutions that aggregate. And provide you the ability to personalize without kind of infracting on people’s privacy or GDPR regulations is really important. And it’s something that’s gonna become more and more important as the years go by and as, as vendors like Apple and and Google become more and more privacy focused.

Brent: Do you think there’s a way of ever getting around the fact that you’ve looked at, let’s say a running shoe store and then for the next two weeks, all you get is targeted display ads for running shoe stores, or for myself, I get umpteen million Adobe ads because I’m on the Adobe website. . 

Nadav: Yeah, I get the same thing.

Nadav: I’ve got I’ve as a product marketer. I do a lot of competitive research and then I get followed around by every competitor that we have get, I get their ads. I think as cookies become less and less available, that’s probably gonna happen less but there’ll probably be different solutions that are I assume less obtrusive to your into your privacy, right?

Nadav: So there’ll probably be different solutions that are aggregated and put you into different groups that kind of try to predict whether you belong to a group that is going to convert for brand X and brand y. But it’ll probably be a little less intrusive than it is right now. Is there a way to get around it?

Nadav: Yeah. If we use, if you use incognito mode in everything you do if you don’t use WhatsApp and and you stay off that kind of platform, that probably is gonna, you’re probably gonna get targeted a little bit less. But today in like a world with cookies, it’s still gonna happen, 

Brent: yeah, and I guess I was going down the path with this question to lead into, is there a better customer journey or does a customer journey platform in general kind of alert merchants to say, Hey, dial down the creepiness factor. 

Nadav: I think it does allow it, so it allows it allows you to be efficient with your target.

Nadav: It allows you to actually give your shoppers a personalized and relevant experience. That’s better within their customer journey. It allows you to remove blockers from your customer journey, which is a huge problem for a lot of vendors without, yeah, without being like super privacy creepy, without following people around with. All over the place, but still targeting them when it’s relevant. A lot of times, even with the way things are now with a lot of cookies the targeting that you get just doesn’t seem relevant, right? Like it’s not at the right time.

Nadav: It’s not like it doesn’t talk to really, to the, to what you really want. It’s just dumb and rule based, it’s oh, you visited our site. So now you’re gonna get this ad for the next 150 years wherever you go which is inefficient for everybody, like the customer ends up hating it, cuz they, they get inundated with ads that aren’t relevant for them.

Nadav: And for you, the merchant, you’re just spending a lot of time on hands. And that’s why solutions AI based solutions like ours. They we have a prediction engine that can predict when a shopper want intends on purchasing when they intend on abandoning. And you can create different segments based on the different data points that we do that make it really smart.

Nadav: And you can target in real time. Shoppers or prospective shoppers with targeted ads that make sense for them at the time, instead of the blackening their sky with with ads wherever they go. 

Brent: What if you had some advice to give to a smaller merchant, even as they move into maybe medium size merchants, how would you tell them to start looking at or analyzing their customer journey?

Nadav: I think the important part is understanding first of all, understanding, like what are the KPIs that are really important to you, right? What’s the there’s, there are vanity KPIs and there are important, there are KPIs that are really important to you. What are the things that are really affecting your bottom line?

Nadav: Is it conversion rate? Is it average order size? Is it abandonment rate, like where what’s the thing that’s impacting you the most? And where are you? Where do you find weakness? Like where are there big drop offs? Where is there a number that’s lower than you would’ve expected it to be?

Nadav: Try to see your customer journey, both based on those KPIs and from your customer’s eyes. So sometimes when we see the journey from our customer’s eyes, we discover things that we wouldn’t see as in our day to day. Are there blockers there? Are there distractions are there things that are affecting them that we wouldn’t think of in the day to day?

Nadav: And try to act on those things. In real time. So when a customer is facing a problem when they have when they’re, when they intend to do something that, that is either positive or negative, you can find a way to act on that. An example of that for us at Namogoo is another tool that we’ve that we’ve developed.

Nadav: It’s called intent based promotions is a tool that knows to present promotions, to shopper. Based on their intent to their probability of acquisition or probability of abandonment. So if we see somebody that has a high probability of abandonment, maybe at that point, we’ll show them a promotion of X percent off, or if we see somebody that has a high probability to, for, to, to purchase, then we might show them. A lower promotion, or we might not show them a promotion at all. Even if there’s, in other cases, you’d have a site wide promotion that they see. So solutions like that kind of save you margins.

Nadav: Aren’t like a one size fits all solution. I think that makes sense for mid market in smaller brands, right? Because it really helps you be efficient. And get the most out of each shopper that comes to your site. . 

Brent: How about the idea of reducing friction across the entire journey?

Brent: How I, how much importance do you put on that? 

Nadav: That’s BA that’s basically how we started at NA mobile. The original product that we developed was something called the customer hijacking prevention. And that was there’s something called ad injections that come into e-commerce sites.

Nadav: It’s unauthorized ads from competitors or from other brands. And sometimes they. They’ll be attractive enough to take your customers off of your customer journey and take into their own customer journey. So that’s how we started in identifying those things and blocking them where needed.

Nadav: And we’ve developed that into newer and and a broader use cases. Right? So one of the things that I’ve already mentioned is shopper extensions. So shopper extensions can be very useful for you as emergent or they can do things that you don’t want them to do, they can provide coupons or discounts where you don’t want them to provide coupons or discounts or to shoppers that you wouldn’t want them to get discounts, or it can do comparisons to your competitors and funnel your customers to other sites.

Nadav: So these are all things that we’ve been very focused on throughout our history. and we know for fact that it affects a lot of e-commerce brands. And there’s a lot that you can do. You, one of the first things is identifying these things that are happening in your customer journey. And then you can fight back.

Nadav: You can either block them. Or you can analyze when it’s actually good for you and when it’s not good for you and pick and choose the places you block, or you can do something active and engage with promotions that are personalized or messaging that’s personalized. And there’s a lot of different ways that you can interact and with your shoppers to overcome these blockers and these things that are distracting within your customer journey.

Nadav: And there’s a lot of distractions in the customer journey for, I think almost every. . 

Brent: Yeah, that’s amazing. NAA, thank you. Today for this has been a great journey to go through in 30 minutes. At the end of every podcast to give our guests a chance to do a shameless plug about anything you’d like to plug.

Brent: What would you like to plug 

Nadav: today? Yeah, I think I’d like to plug obviously Namogoo and and our platform I mean for if it isn’t clear from from everything I’ve talked about until now, Namogoo is a digital journey continuity platform, and it helps currently over a thousand brands shape their customer journey.

Nadav: And what we do is we make each customer journey fit each and every shopper’s needs. And if all of that has been interesting, whether it’s our customer hijacking prevention, Product our intent based promotion product or our customer journey operating system, which basically provides the underlying infrastructure for e-commerce brands to power their customer journeys in real time.

Nadav: If any of that is interesting to any of our listening listeners and please visit Namogoo. That’s N A M O G O O and learn more and we’ll be happy to talk to you and let you know about our solutions. 

Brent: All right. First thing then, where did the name Namogoo come from?

Nadav: That’s actually, I actually recently found out so Namogoo is, comes from a Hebrew word. Namogoo basically means in Hebrew is a plural of they went away, they disappeared. So basically the solution was for your shoppers, that disappeared because they were taking away because of ad injections or because of shopper extensions and things like that.

Nadav: They went away. They disappeared to your competitors. So that’s the word in Hebrews it’s Namogoo. 

Brent: That’s great. And what is the best size merchant then? What would you like to speak to anybody? Or is there a good fit for your platform? 

Nadav: Yeah we speak to SMBs. All the way up to enterprise customers.

Nadav: If you’re, if you’re a very small brand it, the solution you might not have as much value from the brand because you might not see as much of these interruptions or these things that are coming up. But as, but if you’ve grown, you’re already like an SMB, you have some activity on your site, you have some orders, things like that around a thousand orders, a month.

Nadav: Then you can already start to see value from these products. And we’d be happy to talk to you. 

Brent: Yeah. And I always say in marketing, you don’t get any good marketing until you have some data to analyze, to see what exactly that’s gonna happen. So you can always speculate, but having actual data and volume, there is always a great great thing 

Nadav: to have.

Nadav: Yeah. Yeah. Our data is based both on our, like I mentioned, our huge network of 1.2 billion unique users, but also it. As it’s implemented on your site and the more data you have, obviously the faster it learns and the more accurate it becomes. 

Brent: Nadav thank you so much for being here. Thanks for staying up late.

Brent: And and coming on the show today and I appreciate it. Thank you. 

Nadav: Thank you so much, Brent. And thanks everybody for listening.

Subscription Commerce with Evan Padgett

Subscriptions are for everyone and merchants need to examine their catalogs and learn what they can be selling constantly month over month. We interview Evan Padgett with Stealth Venture Labs and learn about subscription commerce. Even is a tenured eCommerce executive dedicated to driving performance and growth in fluid landscapes with nearly 20 years of operating and marketing subscription commerce businesses.

Transcript

Brent: Welcome to this episode of Talk Commerce. Today I have Evan Paget. He is the C O of Stealth venture labs. Evan, go ahead. Introduce yourself. Tell us what you’re doing on a day to day basis and maybe one of your passions in life. 

Evan: All right. Thanks, Brent. So Evan Paget, Stealth venture labs chief operating officer here.

Evan: Hitting my 20th year in the industry this year, actually. And pretty much the entire time inside of subscription commerce companies or here at Stealth overseeing the acquisition marketing for subscription commerce companies largely. Been around the recurring revenue model for a long time.

Evan: I spent a lot of time in recurring revenue models in women’s fashion running brands, like just fab and shoe dazzle. With unique sort of membership models there and a stint as the chief marketing officer at a company called thrive market online grocery company mixing the the model of annual membership and, really awesome club prices for organics and non GMO, really healthy foods.

Evan: And then here at Stealth, really just running and building this company, we’ve had an awesome run building up a marketing agency focused on. A lot of the team here coming from vertical inside of brands and we’ve just had subscription commerce brands gravitate towards us. They also tend to do really well in acquisitions.

Evan: My job is pretty much managing the entire company bringing in the team, making sure that with a lot of our bigger clients at the higher level strategies are sound and being met and channel expansion, everything like that operations you name it. I’ve seen it all at this point.

Evan: And that’s what we do here at Stealth have a good time doing it. 

Brent: I’m excited about subscriptions. I think that subscriptions at all agencies should be a practice. We’re gonna learn today how much it helps to drive revenue for merchants. And I think that subscriptions should be the basis for a lot of how merchants are gonna grow their business and help them create better ROI on every one of their products.

Brent: And so maybe dive into what platforms you’re looking at and and how you’re helping to enable subscriptions. 

Evan: What I tell people about subscription commerce and how you’ll get this question just generally, how do you, I jump into subscription commerce. Few things come to mind.

Evan: One, you have to create a technology or work with a technology. So Shopify has several different plugins, personally biased towards recharge as a great option for most subscription type platforms. When I say most meaning a routine monthly billing and shipping a product or some kind of or access to a product

Evan: covers that really well, but there are sophisticated subscriptions that exist out there that could be based off of triggers or different bespoke, timings, or variable pricing subscriptions. That maybe you have parts of recharge. You need a little bit more custom work or there’s other subscription technologies out there to jump in, but the beauty of subscription, and you might hear me say this and I’ll switch back and forth between the terminology here, subscription and broadly speaking, creating a recurring revenue stream is actually the goal. Subscription is a recurring revenue stream.

Evan: But it’s also not necessarily exclusively depending on your product, the end game, meaning you might have a service fee, that’s a subscription. You might have a subscription that is for exclusive access, or if you are a scarcity type commerce company, meaning you have rare things, you only get 50 of them in stock.

Evan: And you wanna say. Paying members get an hour head start, right? That’s a recurring revenue model as well. So a lot of that I’ll switch, my terminology between saying subscription or recurring revenue model, but the point being the beauty of a subscription model and what you’re trying to get to is predictable revenue over time.

Evan: And it’s basically a machine that allows you to have with really good accuracy. Predictability in your business cash flow management of your business. And usually not always, but usually higher lifetime values of customers for you to be able to go out and attract more customers with acquisition marketing, the one who can pay more for a customer.

Evan: And has a better product can usually win them. There’s a lot to unpack there, as I look at it once you’ve determined a technology, there’s a lot of them out there. You need to be thinking about what your recurring revenue model’s gonna bring to the customer. And I can elaborate on that some more.

Evan: What you’re looking for, is a few is like five key things. Your subscription’s gotta have five key things that, that pretty much help it be successful. One passion audience meaning a subscription and recurring revenue model establishes a relationship between a company and a brand.

Evan: And that passion goes beyond something transactional. You really gotta nurture that relationship. You gotta communicate with them about their package, their tracking their shipment, why they’re buying what they’re buying and what it stands for. Doesn’t have to be cost driven, but it needs to be something that sort of shows the convenience or shows the value it brings to their life.

Evan: So that’s one thing. Ideally, the number two thing is you want that audience to be as large as possible best example I could give. And we work with a lot of these. Our meal at home companies, everyone’s gotta eat. Therefore you’re addressable audience, pretty much everybody on the internet at any given point in time.

Evan: If you have a really passionate audience, but they’re very niche. if it’s too small, they can be very hard to find any cost effective manner when it comes to acquisition marketing. But not to say you can’t find them, but then at a certain point you hit. Terminal velocity a little bit more quickly.

Evan: So that’s number two. That’s the second thing you need is that audience to be large? Number three is this is the hardest one I think is having a unique value prop. You can make a, me too company, right? You can do a copycat of somebody else doing something that you like, maybe. Maybe you got a better supply chain or maybe you own the factory, or maybe, there’s things like that could give you a little bit of a competitive advantage, but seeking the thing that makes you different and using that as a claim or as something that you could put in front of customers is critical because when they’re bouncing you against your closest competitor, if you guys are copycats of each other, down from your claims, your pricing and everything, Then you gotta coin flip chance of winning that customer and it’s gonna come down to the other things like reviews or credibility or how long you’ve been in business.

Evan: So finding a unique value proposition that, that says we do this, or we are unique because it’s our own brand and we’re not reselling third party product. I don’t know what the answer is there, but finding something that’s unique to you, that’s number three. With that uniqueness, good unit economics.

Evan: This question comes up a lot. What do I need to be doing? What’s my margin need to be when I’m doing subscription on the internet. And I always say start at 50%, 50% gross profit margins delivered to the customer before you’re before acquisition marketing, before your team, before all that, just shipping the product from your fulfillment center.

Evan: Cost of goods with shipping, with the actual product itself, to the customer’s door, 50% gross profit margins at that level, give you room to grow and scale and throw money into advertising lower than that, you’re gonna find that you struggle to scale your advertising because your CAC, the fluctuations in CAC can lead you into really challenging territory when it comes to your overall bottom line margin.

Evan: And EBIDA And it’s also gonna be difficult to scale because media prices tend to only go up over time, as we’ve all seen those number four, the economics and last piece that you were looking for when you’re building out a subscription, is it needs to solve a pain of some kind. It needs to solve something for the end user to make their life better.

Evan: Meaning I’ll use meal at home again, cause again, I have a lot of experience and this vertical. Meal at home. It’s not just food delivered to your doorstep. That’s a feature. A benefit is you’re now not having to spend time going to the grocery store. You’re not having to fight about what we’re eating for dinner tonight because the food your meals were delivered for the next several days.

Evan: And you’re picking which one you wanna do. You are now creating less gravity for that consumer because they now have something delivered conveniently to their door. And that is now releasing them from a pain that they were feeling before. And that’s that’s one example, but you gotta find a reason why your product alleviates a pain from the consumer.

Evan: And once you do that, you have all five of those things. You gotta really great. Subscription model, I think. 

Brent: Those are five great points. So just keying on the number four, you said having that economics on there A lot of subscription models offer a discount on top of just getting that subscription as an incentive to get it a subscription.

Brent: Do you feel as though there’s some built in economics in there for that guaranteed revenue over time where you might want to at some point dip down to some level. I’m not arguing about the 50%. I think that’s a great value. But having that revenue maybe cut into in the beginning where later on, you might get some more margin and then secondly the idea of a recurring service, a long time ago, we did some work for a music company and we did fan subscriptions.

Brent: So from that standpoint the margin is essentially a hundred percent, there’s no real cost to it. It’s just trying to get money or a Patreon or something like that, where you have a subscription. All you’re trying to do is get revenue for something. 

Evan: Yeah. So the the beauty of subscription and recurring revenue models is I’ve worked in subscription companies where the first order that goes out the door with cost of goods.

Evan: And this is an extreme version is actually negative. We’re losing money. We’re losing money by shipping to the customer on that first order, even before customer acquisition cost, I’ve been in a major subscription company where that is how we started. Our goal was like, Hey, we’re breaking

Evan: even before customer re acquisition cost and team and everything just breaking even that was success for us. But the reason why as subscription, you’re bouncing against an LTV you are buying and optimizing your media against an LTV. And that allows you to be, hypercompetitive even unbelievably competitive on that first order, which is very common.

Evan: Huge discounts on subscriptions on that first order. I don’t think that’s a bad thing because look, you need to get people to take a leap of faith on you. If you’re consumable, if you’re something that you eat, if you’re something that you drink they wanna try you out first, before they jump into could be a year or more of commitment.

Evan: You’re buying against an LTV. And when you’re doing that, you’re looking at, Hey, my average customer. And you model this, we’ll probably talk about this in a minute on the on the financial and how to build up a subscription company, but you have a, typically a forecast model looking at your attrition, your revenue, everything over time, and you come up with an LTV and let’s just say for hypothetical sake that your LTV is $400.

Evan: I would always say, Hey look, do you wanna maintain. A LTV to CAGS ratio of four to one for conservative scale and three to one for aggressive scale, meaning you, you trying to lean into that. You’re not maximizing your EBITDA or bottom line profits. You’re reinvesting heavily back in an increase your media spend.

Evan: And that’s with 50% margin. If your margin’s less, that ratio’s gotta be better, but at a 50% margin, you’re basically saying on $400, LTVs. I’m gonna make $200. I could spend $100 to make $200, and then you have team and everything after that. But at least from there you get your ROI. If you’re an e-commerce company without a subscription element attached to it, you have to be getting that ROI on that first order.

Evan: Otherwise you are just literally burning money and you’re waiting for them to come back. And you might know that customer comes back and purchases three times throughout the year. But sometimes that’s two, sometimes that’s four. And you don’t know when they’re coming back, subscription creates predictability there.

Evan: And you’re not just focused on making sure that oh, I got a customer for a hundred dollars and they bought $400. That’s how it is when you’re doing e-commerce. We do a subscription commerce. You can draw that out a little bit, and that allows you to be competitive in the advertising space and also make sure that you’re

Evan: controlling your downstream revenue. 

Brent: You mentioned the media spend, what out of a percentage of that would be your typical media spend or would be a recommended media spend and let’s just let’s compare to the subscription. Like you’d probably wanna spend a little bit more on media for subscriptions as compared to a one time buy type of product.

Evan: Yeah, I think the generally yes. And I think it’s more about the scalability subscriptions, the compounding effect of revenue over time with subscriptions allows you to have money, to invest to, reinvest into marketing. When you are an e-commerce company without a recurring revenue model behind it.

Evan: You might have months where your ROAS is sitting very comfortably at five or six or seven. And then you’re saving some of that for months when that ROAS is two, three or four. And you’re and then your media availability becomes really touchy, but with LTVs generally being hired with recurring revenue models.

Evan: That kind of gives you the ability to. Can continue to create a sustainable growth trajectory as long as your CAC stays within a bigger range and also you can really just hone in on understanding your customer’s needs and desires and improve your product over time. Where. Most e-commerce models,

Evan: they just have a position in the marketplace I’m and I’m not do on e-commerce models. Okay. There’s still a lot of them that exist and they do really well. I say you really want to unlock revenue potential for your company is find a recurring model to go along or be the primary offer and have regular, e-commerce to go along with it, but just the ability to reinvest into media and control your numbers more holistically predictably.

Evan: That’s the big benefit of recurring revenue models on top of, I, generally I’d say higher LTVs customer LTVs, et cetera. The beauty of it is it’s if you do it right there aren’t any surprises with e-commerce. I find that you could be surprised a lot and those surprises are usually not positive ones.

Brent: It’s just a little bit on surprises. The supply chain issue, especially in the subscription market can be very painful, especially if you’ve had a standard product that you’re selling over and over again. What do you recommend to merchants who have something and suddenly it’s outta stock for a month?

Brent: Does that lead buyers to have to look somewhere else? Or do you just try to source something that may be more expensive and lose money for that month? 

Evan: Yeah. This is probably the hardest part about subscription. And it, the hard part is understanding and seeing the cliff coming because usually the beauty of a eCommerce company non subscription is if your inventory is low for the month, you could just pull back your marketing and maybe your website isn’t as fun.

Evan: Are you. You come up with another angle to get people excited. So they’re not coming back to your website and being like, oh wow, this the merchandise this month is not interesting. But you’re not as primed to lose money. You might lose momentum if you’re an e-commerce company, subscription commerce, though, here’s the rub you usually know pretty far in advance.

Evan: If you’re, unless even if you’re manufacturing your own stuff, running your own supply chain, you’re ordering. Four to six months in advance, unless you have manufacturing here in the United States or locally to your country, wherever you’re at. If you’re ordering from anywhere overseas, you’re ordering four to six months

Evan: usually more even in advance. So you’re tying up your working capital in that product. You gotta give yourself a certain amount of buffer, cuz the earlier you procure your inventory, the more working capital you have just sitting on your shelves in a warehouse, which is important when you’re managing your cash flow.

Evan: The other side of that, if you’re cutting it way too close to being like, oh, it’s gonna arrive in the warehouse on the third and we’re selling it on the seventh. All it takes is a little jam up in the port and all of a sudden you’re like, yeah, Hey we know we’re supposed to deliver and unload on the third.

Evan: They’re not gonna get to it until the 26th of next month. It’s Okey dokey. So when you’re a subscription company, you now have to get ahead of that. And you’re doing something like sourcing product locally. If you have a, the ability to get inventory, if you’re in fashion, for example, you can always maybe find.

Evan: More fashion products that you could throw in your box, but if you’re your own supply chain, if you’re your own first party brand, you might just be low on inventory that month, which means you’re gonna have a huge bump in attrition. You’re gonna have to convince your customers to stick around and say Hey, we have some problems here or you’re paying.

Evan: Exorbitant amounts of money to somehow get that date of the 23rd back down to the 15th. And you’re able to say, Hey guys, we just have shipping delays for a week, not a big deal. But you have to scramble. Now, you usually see that coming usually, meaning, if your boat leaves, from wherever it’s coming from on time or early you’re like, okay.

Evan: And I, maybe you build in buffer time look, we’re gonna get this in the warehouse. Gonna sit there for a. Then, maybe it sits there for two weeks instead of a month, you build in that buffer, but that comes at cost. It comes outta working capital cost, because guess what, they don’t let you get your inventory without paying for it.

Evan: So you have the ability to create cash flow models that answer these questions for you and give you the means to, to create alternatives. But. If you’re not planning. And if you don’t have these check downs between how to get my inventory, how to replace my inventory, what happens? I always like to say always think about what happens if a boat sinks and I’ve been in

Evan: that business and I’d had product that was important. That was on a boat that sank. What do you do? And what plan do you put a place to, to do that, between communicating with your customers, finding alternative product, trying to rush something from somewhere else who knows. But everything comes with a calculated and quantifiable cost and risk.

Evan: And you really have to think about that. The beauty of subscription is you usually see that coming. It’s usually not the last minute. You see the horizon of alright, 60 days from now, we’re really low on inventory. We can find things. We have to act quickly, but we can solve this problem.

Evan: But it’s expensive. It is expensive and you gotta be, you have to have rainy day funds for that. 

Brent: Yeah, I think you keyed on two points there. The first one is you talked about the fashion business and maybe the box model. Compare that to just buying toilet paper where you want to get it every week or every month.

Brent: Actually maybe not even toilet paper, something a little more like coffee, let’s talk about coffee. Because somebody really likes some coffee and you need to fulfill that exact same thing month over month or week. Yeah. Week after week where a fashion you do have the option of of mixing and matching and taking 

Brent: what you have that’s most popular, but also what you have in stock. When you’re looking at the strictly subscription call it the pantry business that another big platform uses how do you manage that? If somebody has something that they really want every month and then suddenly it’s gone.

Evan: Yeah. So depending on the timeframe, you have to do that one, one beautiful thing about subscription. If you’re selling the same product one thing you can do is slow down customer acquisition. If you’re paying I, if you’re doing advertising for customer acquisition and it’s the same product conceivably, coffee’s a good example.

Evan: Like your coffee starter box from the company you order from and your recurring subscription. They have the same, goods in them. And what you do is say, okay we’re gonna be short 5,000 units in two months from now or three months from now. What you do is slow down your customer acquisition cost to say, okay, we, I think we can pick up 3000 units.

Evan: We’re gonna get a little less customers. Now, those less customers I get now are also gonna be less customers later. So you work into the number that you. I think above all my opinion on this is do your best to not upset the customers that you have, the customers you’re going to get. You will get them later chasing customer acquisition,

Evan: and I have a big tirade on this one, is what ends up crippling most up and coming subscription companies and consumer packaged goods. A good example, a practical example outside the one I just gave right there. Your company, and let’s just say your customer acquisition costs $50. Okay. Keep it easy numbers.

Evan: And your payback on that, your media payback periods for most subscription companies. Usually around three months, if you have a healthy subscription, you’re getting fully paid back on your customer acquisition cost after about three months time let’s just say you’re spending $50,000 a month to get a thousand new customers a month.

Evan: That’s a again, easy numbers here. What that means in your company. If you have not done this analysis is you have $150,000 in working capital tied up in your media, right? 50,000 a month, three months until you’re getting a media payback. You are always having $150,000 in media working to, to keep your current pace.

Evan: What I see happen a lot of brands jump in, they have some tailwinds, good news. They’re C is lower. Awesome. They think they wanna dial it media. Hey, you know what? We got the cash spend a hundred grand this month. Sound good, everybody. We all feel good. Great. Guess what? A hundred grand a month,

Evan: for three months to maintain. Now you’ve doubled your working capital for media to $300,000. Somebody’s gotta come from somewhere. It comes off the balance sheet, but uhoh customer quality. Maybe you’re going a little too hard. Maybe they’re jumping on because you ran a buy one, get one promotion and it’s dropping customer quality.

Evan: Even though your CAC went down, your customer quality went down. Maybe you have a little bit higher first cycle churn. Now your media payback’s four months. Oh. Now instead of $150,000 on working capital you’ve created $400,000 in working capital to support your current media. Guess what you also did.

Evan: You bought more inventory because you got more customers that are gonna be coming in 3, 4, 5, 6, 8 months from now, from all the new subscriptions that you’re planning on getting that, and you’ve increased your media spend. So now you’ve committed more working capital to your product. and just because you saw tailwinds and you see an opportunity there, you’ve consumed 500, $800,000 of additional working capital out of your company.

Evan: And what happens if that boat sinks? What happens if your product’s just gonna show up late jams up in the port? No one’s fault necessarily. Can’t really avoid it sometimes. The truck carrying your product, got in an accident it’s delayed a week now. You’ve overextended your company

Evan: significantly. And that leads to people having to do distressed fundraising. They have to go out and get desperate bridge capital because their vendors still gotta get paid. Their teams still has to get paid. They have to still order more product down the road. And they’ve overextended themselves on their own working capital.

Evan: This all comes together with planning your subscription business well makes an elegant machine that is controllable. There’s several levers to do that, but being too aggressive when the grass is green could really end up jamming your business up in ways that and I think if you were to.

Evan: 10 subscription company operates successful ones say, sort of 50, a hundred million dollar plus businesses. They all have that story. Every single one of them has that. We went a little too hard and it blew up in our face. So that’s one thing I always tell people, like plan ahead, but don’t stretch too far because unless you’ve got

Evan: a rich family or rich uncle. That’ll just write you a check by asking them, you could end up significantly crippling your business because you cannot control the market conditions. You can’t necessarily control your competitors. You also can’t control the nature and volatility of a boat on the ocean.

Brent: yeah. That’s a great point. That brings up the question. How do you properly measure and forecast your subscriptions? Is there a model to that? 

Evan: Yeah, proforma modeling, subscription waterfalls. These are terms that you usually hear a lot if you’re into the space, but it’s not very hard to do this.

Evan: It’s just a little bit complicated. Meaning there are a handful of key KPIs. You need to know one, your revenue, of course, revenue per box revenue per shipment, whatever that is for your, for every single cycle. And that cycle could be monthly every other month, every quarter annual. don’t really know, right?

Evan: Every business has its own revenue stream. And you need to be looking at, if I just say, if I use this the most rudimentary example of I’m a subscription box company that sends a box every month and it doesn’t matter what I’m sending in it, but just as go with that, you need to be looking at what is typically referred to as a churn water.

Evan: And another term you hear a lot in subscription is cohorts, and this is all very important. If you’re gonna go out and raise money on your subscription, these are the words that the investors love to hear and understand cohorts, cohort being typically defined as new customers. You get in a month or in a period of time, but typically a month, that’s a fixed number.

Evan: That number doesn’t change. You get a thousand customers this month. That is a fixed data point that never adjusts. You’re always gonna get a thousand new customers in April of 2022. And then by cycle usually month again. In this example, you’re looking at what’s called the churn waterfall and you’re applying churn percentages to each month.

Evan: So your a thousand customers after one month might be 800 customers. And then you apply, 20% drop off there. Then that 800 customers, it may lose 10% of that 800. So now it’s gonna drop to 710 customers you’re gonna lose or 720 customers. It’s gonna lose 80 customers. And that seven 20, maybe you apply another 10%.

Evan: And there’s I have a lot of experience on different types of models, but generally speaking, usually in that first cycle, typically the highest attrition, 20, 25% of all your subscribers gonna drop off. after that 10 to 15% on that second cycle on a monthly cycle. Then from there, you’re usually looking at about three to 5% per month.

Evan: If they stick with your product for three or four months, they’re not dropping off at high clips anymore. As long as you maintain quality service. Now, when you have all those customers and then you have the revenue attached to them, you can now plot your revenue over time, what are you gonna collect? You can also project your inventory demand over time, how much product you’re gonna be selling from that cohort.

Evan: And then you layer on multiple cohorts. So you build a model that says, okay, this is what our customers were in April. This is what they were in March. This is what they were in February. And then you get a final total from every single cohort of all right, I’m gonna. 4,000 boxes this month. And I know if I ship 4,000 boxes, I put three things in a box.

Evan: I need 12,000 units plus or minus for this month in demand plus new customers for that month. So maybe it’s 15,000, whatever your new customer rules are. Now you can track revenue, you could track product demand. You could track you could start applying customer service interactions for workforce.

Evan: That a every thousand boxes we ship out, we get 10 tickets, we have this math, right? So then you know that from sending out 10,000 boxes, I’m gonna get a hundred tickets. So then you know, how many customer service agents you need. Now you have your revenue planned up. Great. Awesome.

Evan: Now you gotta plan out your media. Media advertising. If you’re doing direct to consumer advertising on Facebook, Google, et cetera you’re balancing that with a new customer acquisition cost number. So spending $50,000 at $50 fully blended CAC means something at a thousand new customers. And you’re tracking that as media dollars spend over time.

Evan: You used that revenue model that I mentioned to derive an LTV all an LTV is. There’s different versions of LTV that people use. But, generally speaking, there’s two that make sense. You’re of your gross revenue per customer after discount. So just what you’re gross, getting from them, which is typically referred to as an LTV number.

Evan: And many of them apply their margins after that. So they’ll reduce if you have 50% March and it might say, Hey, my LTV is, $400, but my LTV after cost of goods is $200. All that does is really tell you what you’re dropping further down on your P and L sheet, right? So once you have all that, now you’re looking at trying to layer that into cash planning.

Evan: So this is the tricky part, managing your cash flow because cash is coming in when you’re selling product cash is going out for media pretty much real time, not unless you’re a gigantic. Media partner spending tens of millions a month. You’re not really getting terms with Facebook or anything like that.

Evan: You’re not able to get an invoice at the end of the month for Facebook. They’re not floating that you’re, they’re just hitting your card every thousand dollars you’re spending. But inventory there’s long lead on that and you gotta look out and say, okay, Hey, eight months from now, we need 20,000 units and I gotta buy those next month.

Evan: I gotta make sure I have cash for that. And where is that cash coming from? What happens if it’s a little tight, do I need to slow down my marketing? Maybe you do. You run those scenarios. You start having all of these numbers in place. It’s not an incredibly large set of numbers, but the primary numbers being, cohorted customers churn your revenue per cycle for those customers and your media spend.

Evan: And product demand, those five things. When your product’s gonna hit, you can work backwards and build a cash flow analysis you could build and understand all this from understanding your initial cash balance of what’s gonna go out. What’s coming in. And you do that. You can really manage a business again.

Evan: It sounds complicated. It’s really not. It’s just, you have to be planning far further in advance subscription you’re always looking forward. E-commerce you can find opportunities. I’ve, the drop ship, world’s the most prime example of this, but even just anyone else that’s been like, Hey.

Evan: I go buy a hundred thousand of these products right now at a great price. Let’s just sell ’em sweet. Let’s do it. Drop the cash for a hundred thousand units or something. You’ll spin up a website, do run some advertising. You try to make money off of that. And you close that chapter. Subscriptions just require.

Evan: It’s more like a locomotive down the you’re going down the tracks and you gotta keep it going. You gotta keep it rolling. You gotta pay attention to enough things. The moment you disregard a lever you can end up blowing something up and that’s not what you wanna do. 

Brent: So we have about five minutes left today. If you were to give some nugget to a merchant and they would like to enter into subscriptions, or they would like to find some products that may be already in their catalog. how would you recommend they start to find that right product and start doing subscriptions.

Evan: Yeah, one thing I always say is just listen to your current customers. If you’re an e-commerce company, you already got a company rolling. And it is healthy. Maybe you’re doing five, $10 million a year in revenue, have some money on advertising, listen to your customers. They’ll tell you the things they want on a recurring basis.

Evan: They want to get access early. They want to get. Consumable product, if you sell that they wanna be part of a membership for some reason. That’s not everybody, you’re not gonna convert a hundred percent of your existing customers into it, but listen to your customers. If you already have some, if you’re coming into the market with subscription, I largely say, look at what solves a pain the most.

Evan: That’s the biggest one. What would be the thing that if you had it in your life or, everybody, had it in their. It would make their life easier. If it’s getting food delivered at home. If it’s getting toilet paper delivered at home, if it’s laundry services start there and see if you can build up and work backwards.

Evan: See if the economics works, not everything is meant to be in a recurring revenue model, but I do think that almost every business can create a part of their business that has a recurring revenue component to it. So doesn’t mean that, one of the questions I got asked, we put on the spot, which I thought was literally like mattress companies, right?

Evan: Like online mattress companies Purple like Casper, all them. How do you make a recurring revenue model out of that? I said, look like, yeah, then people don’t need mattresses very often, but would they pay more for, would they pay 50 year, $50 a year for no questions asked replacement? If something happens, maybe, but in that guarantee, the warranty of expensive goods is one of the oldest subscriptions that’s ever existed.

Evan: Could they get on a subscription for quarterly bedding? Like people have not a nice bed. If they were to get new bedding every quarter, that’s seasonally relevant. Again, not everybody would want that, but there’s some that would want that if they bought a bed from you, they want bedding, think about that.

Evan: But try to find something that solves the pain for the customer base that you’re going after. And ultimately that has the biggest applicable audience. If you can find pretty much adults, 24 and over to cater your product to, you can find a subscription stream there that will hit on all of those marks to end up solving a pain, have good economics, create a service and a relationship and, make people’s lives better.

Evan: That’s where I begin. And then on that. And then last piece be adaptable. Nobody gets it right on the first swing. You just, you really just don’t like every subscription brand that exists out there today. Right now, if they’ve been around for more than a year, probably year, maybe two years, they are different than when they started.

Evan: They have a different product line they’ve expanded, they’ve changed. They’ve pivoted their pricing, their service, their quality, all that stuff. Usually for the better know that it just don’t overthink about where you’re trying to get to. But if you see an opportunity, it will evolve with the company into what the market needs.

Brent: I think as everybody knows in the marketing world measure test, and then yep. Do it all over again to see how well it worked. And these are great opportunities that everybody has with every product in their. Online store or in, in retail store, whatever that thing is.

Brent: Like you said, with the mattress, there is opportunities for subscriptions across almost every product certainly is gonna be some that don’t apply. But if you look at what are the big box stores are doing, I think the add-on warranties and add-on products, and I the mattress pillows are a great example of how a mattress company would leverage the fact that somebody’s sleeping to the fact that you could brand a pillow that goes along with their mattress anyways. Absolutely. So yeah, this has been great, Evan. As I close out on every podcast, I give the guests a chance to do a shameless plug about anything you’d like, what would you like to plug today?

Evan: I just say that, if you what I was talking about, curious about how to build out a subscription platform, reach out to me, evan@Stealthventurelabs.com or it’s just Stealth venture labs.com. And see what we’re up to see how we can help. Sometimes we advise sometimes we just jump in and run this business for you.

Evan: Also I’d like to say that we are building out. If you go to our website we have a fully functional 5 0 1 C three, which is really important to us. Something we call our impact lab. where we as a company built a 5 0 1 C three and built a product focused on teaching young entrepreneurs from really tough areas of the country, how to build and launch their own e-commerce business and actually fund with cash.

Evan: Their first $5,000 in media spend After we help them build a website and show ’em how to do all that. So something we’re really passionate about is a developing the entrepreneurial spirit and the bridge to get from an idea to an online presence. So something, if you’re ever interested in donating or helping and mentoring reach out to us about that as well, it said something really important 

Brent: to us.

Brent: That’s awesome. Thank you so much. Evan Padgett from Stealth labs. Thank you so much today. And it’s been a pleasure having you on the show. 

Evan: appreciate it, Brent. Thank you.

The Google Dashboard Genius with JJ Reynolds

Have you ever thought about the actions you should take on your marketing data? JJ Reynolds (@JJReynoldsjr) helps to eliminate the guesswork by using Google Marketing Cloud. JJ shows how his team can increase MMR while measuring the customer’s journey. He describes how you can take your data from your CRM, Google Analytics, and cart platform and turn it into a real-time data dashboard for you to take action on. This is exciting stuff for both B2B and DTC marketers.

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Transcript

Brent: Welcome to this episode of talk commerce today. I have JJ Reynolds JJ, no relation to aluminum foil, but still a great last name. JJ is a marketing and analytics expert. JJ, go ahead and introduce yourself. Tell us what you do day to day and maybe one of your passions in. Hey 

JJ: thanks so much for having me the first off, my name is JJ Reynolds.

JJ: Again, no relation to Reynolds rap at all. But I run media authentic, which is we’re a small, nimble team of data analytics marketers. So basically we help marketing teams report on their numbers from everything from customer acquisition costs to stick and churn to how well your Facebook ads are doing and everything 

Brent: in.

Brent: that’s great. Thanks. So today we are gonna talk about customer acquisition. I would like to talk a little bit about the difference between D to C and B2B in an acquisition cost. And, but I’ll kinda let you drive some of that, some of those topics maybe just tell us what are some of the misconceptions on acquisition costs, especially from a 

JJ: merchant point of.

JJ: Yeah, definitely the biggest I guess misnomer around customer acquisition costs it comes on both of those customer side and the cost side. So in order to have customer acquisition costs, you have your happy customers and you have to have your costs and you have to divide the two. Just for everybody listening that didn’t know what we’re talking about.

JJ: The both of those things can be defined differently. At every level of an organization, whether you’re a small, nimble team or a big like hundred person team is a customer, a free subscription. If you’re a SAS company or a $7 makeup brush, if you’re a, an e-commerce company. And on the flip side so like basically to start off, is that a customer, right?

JJ: Is that defined as a customer, to everybody in your entire team? And you need to get everyone on board with that because I’ve seen big tuffle and curve ruffles and all types of things happen about defining what that customer. Is so once you can define that, I’d say, write out on piece paper, then you need to define costs, right?

JJ: So is cost your ad spend? Is it your marketing team? Is it the agency running it? What is the definition of cost? Because the agency or your marketing team. if you’re running ads, which is the most, the simplest customer acquisition cost you can have is the ad spend divided by customers. Once you define what a customer is that’s the easiest thing, right?

JJ: And so if you can define what your costs are, if you’re gonna use ad spend, if you’re gonna use marketing costs, because in theory, marketing if you’re having a person running your ads, that’s a cost. If you could define that next, then you have a great baseline because someone just asks what’s a better what’s the good customer acquisition cost and for market eCommerce or make or SAS.

JJ: The answer to that question is better than it was yesterday. That’s the answer to the question because everyone’s trying to get a lower customer acquisition cost. And so that, that’s my thoughts in broad strokes about. How to simply go about it and have the least amount of confrontations at your organization company, or even like small business, depending on the size.

Brent: Yeah. So we’re talking here, we’re talking, maybe a D to C customer where you’re trying to get as many people to, to to purchase something. And what does it cost to get that customer? I think if you, if, then if we dig in a little deeper it’s, if they’re gonna buy something else, that’s. Average customer value or average average customer length. Tho those things also play in to that initial cost. And then if they’re buying a subscription or if they’re just buying a hairbrush. I don’t buy a lot of hair brushes and I don’t really need a subscription for one, but I would imagine there’s people that buy hair brushes, I’ve never bought one.

Brent: But having said that it is PO there’s a different once you’ve acquired them, they’re worth, every customer could be worth different. So you also should define how much you should be spending potentially, cause if you have a subscription that, that the acquisition cost could be higher, but.

Brent: Total customer value would be higher. 

JJ: Exactly. And my favorite metric to have on a dashboard for that exact question is what is the like cycle you expect? And what’s your What’s your not like a stick rate, but what’s your rebuy rate or repurchase or reengage rate. So for example, if you’re a pool company selling chlorine it’s gonna be a year, right?

JJ: Every summer people are gonna buy it. So you should say, Hey, we acquired a thousand customers this summer or in the month of June or whatever it might be. When did they buy next? Probably next June. They’re not gonna buy in July cuz they just bought like three months of pool supplies. And so what you need to do is you need to look at the next buy. So the next June, how many of those customers that you acquired in June, 2020 bought in. June or summer 2021. And then if you say, oh, 60% bought again. Now we got something to go off of. If we can say every year, 60% is who reengage with us, rebuy, repurchase, re give us money.

JJ: You have a much better way of saying projecting the future of what’s gonna happen when you acquire today. It’s a very loose metric, right? We’re not like looking exactly this percentage, this number like from a SAS, like standpoint people. Do that. But that’s usually really the most helpful and I guess actionable.

JJ: Oh I cannot hear you 

Brent: most important thing. There is to get the number of staff, establish a baseline and then see where you’re improving. So you’re right. That number is flexible and it’s not a set number it’s different in every industry. I think that you’ve mentioned gauge a few times.

Brent: The most important thing then how do you get them to engage on something? 

JJ: Yeah. I, again, I would love to, to play with definitions of what is, what does engaged mean to different people? Because marketers I love us all. Like we all love to make up new terms of what different things mean. So at your what, whether you’re trying to engage someone to do a bajillion different things, right?

JJ: You could have them engage with a blog post, which is. The blog post, and you should measure for that is Hey, let’s see how hit 90% scroll on our blogs. And then you can measure, there are people who are reading your blogs. There are page views of your blogs, because page views just means someone clicks on something and need a good title.

JJ: Doesn’t mean your content was actually helpful. From a reporting standpoint and from. A measurement to then action, right? Because reporting is only useful. If you take an action on it, at the end of the day, doesn’t matter. How pretty the reports look, how bold the numbers are.

JJ: You need have an action. So whatever the engagement metric are, whether it’s reengage with a product to say you, you sold a, an RC car and you wanna sell the upgraded wheels. Like you could have them reengage and buy. Set of wheels or to just have your content marketing, be like, we’re gonna try and get our entire email list to at least read one blog post to the end, the, to the end of it.

Brent: Yeah. And I think you’ve brought up a really good point about engagement and how that is different from taking the action. I can remember a client that we had that had a huge amount of volume on their site, like a million views. and their orders were 400 or something like that. They were just using their site to display information and they’re driving people to retail where they could be taking advantage of action items on that to make them buy something.

Brent: And I think what you’re saying, and what I hear you saying is that the engagement part of it is important, but then during that engagement, we want to take, we want them to take some actions, right? So maybe you could go into what are some of those actions? Typical merchant could do or entice them in that engagement to take those actions.

JJ: Yeah. Like I love breaking it down to a customer journey that you can actually measure. And then ultimately that you can like, again, action on it. And so the biggest fail point I see in most eCommerce, like every business, every single online is just. The default metrics that are given to you by any platform of conversion rate, right?

JJ: That’s a big thing everyone talks about. What is a conversion rate? Is that number of people who you hit your site to purchase, or is it number of page used to purchase number of sessions to purchase number of product detailed views to purchase, there’s so many ways to slice and dice that, that we wanna make it.

JJ: Sure. It’s hyper focused. You like the action taker, can actually dive into it and say, Hey, this is the problem. So what I personally love to do is take every page of a website and define what the goal is of this page of your website. So for example, a blog post, what is the purpose of this blog post?

JJ: And it might be different. Everyone has I just wanna have like epic content that people read that could be the goal of the blog post. And to have people understand who the brand voice is. Some people write blog posts to have call to actions like every 300 pixels. And so if you wrote that thing, okay.

JJ: Let’s start at the top. You have, remember who saw blog post, like page used. Page loaded. You might wanna do 20 seconds on page people who stuck around. They’re now aware that you even offered a blog post, you even had that to be there. I usually use engage as a 50% scroll, so Hey, they engage with our content.

JJ: We know they actually like. did not just leave immediately. They investigated usually to say, Hey, they saw a call to action or whatever the goal was for at least five seconds. So if you see your call to action, you’ll blurb there. Boom, five seconds. Now they’re like in they’re investigating what the heck is happening.

JJ: And then initiate is, took the action that I wanted them to do. So click the button. So now. If something is broken, safe, for example, your content sucks. You’ll see impression to engage terrible dropoff rate, right? You they’ll just be like, oh yeah, 90% of people didn’t scroll 50%. Doesn’t matter how great your call to action is at the bottom of your blog post.

JJ: No one saw it. So that’s like my actionable journey, for lack of better terms that you can really start to dive into immediate. Yeah. 

Brent: Just a sidebar. If you’ve ever looked at a recipe and you’ve looked it on your mobile phone the content layout shift, cumulative layout.

Brent: It takes into that account horribly when you’re going through your recipe. And you’re getting a popup ad, that’s changing every 10 seconds. And that’s a negative on that, but I love this four step process. So page views. Amount of time. So you said 50% scroll investigating. So where are they going?

Brent: And then and then action in initiating an action. That’s they, I think that just really boils it down in a nutshell. Yeah. And then how do you, so you help, you would help them determine where that drop off is. And so it, maybe if it’s under investigate, how would you help somebody to increase that, that percentage?

Brent: Yeah, like the 

JJ: easiest. We’ll help people like set this up, cause by default, none of this is being collected aside from like page views, right? Like most of the time, not all the information is being collected. So that’s of step one is defining all these terms for them, for a client of ours or even talking with somebody over the phone.

JJ: But what the goal is that these numbers jump off the page. And so if you go say for impression to aware. and we normally see like a 90, like 95% continue, 90 to 95%. If you’re at 80%, there’s a problem with your above the fold content. Like plain and simple that’s it like above the fold, something’s wrong with the expectation of what someone was expecting to see.

JJ: And then each step, we have some kind of like benchmarks depending on the industry and also just like intuition where you’re like if we make it into a funnel chart, you’re like, it let’s see a nice, beautiful tape or fall off. And if you’re like, whoa, that thing got really like skinny, fast.

JJ: Let’s go see what, like, why is that the case? Was it the fact that. We had a YouTube video that no one’s watching, that’s taken a half the screen. Was there a popup that’s happening at 15 seconds that makes everyone leave, seeing that happen? Not a fan of popups personally. And yeah, that, that’s where the actions come into play.

JJ: You see these percentages and then if they’re not what you would expect then you have to go in and hop and make, hopefully make a change that is very easily tied to those percentage. 

Brent: Yeah. And I like that. I just to, for the listeners who don’t, I think above the fold and below the fold is pretty obvious.

Brent: So you’re saying 80%, if they drop below, you’re talking about a bounce rate, right? So that first time they land, if they pop off of it without doing anything within and 80% of those people are popping off that, or more than 80%, that there’s something that’s wrong with the visible section that somebody sees, as soon as they land on that page.

JJ: Yeah, exactly. That and bounce rate is like my least favorite, like thing, because by big default, just for everyone listening, who’s seen bounce rate, right? Like it’s a metric that a lot of platforms will give you. Bounce rate is normally calculated by people who load a page and then do not continue. There’s no other events on a page.

JJ: So what that means is someone could read the whole blog post, sit there for 30 seconds. but they didn’t do anything. They didn’t click on anything. They didn’t go anywhere. So to Google analytics or whatever your platform is, they were, they bounced, they read the article and left. They didn’t click anything, but that was great.

JJ: Like they read the whole article. So that’s something to just consider is how define bounce rate for how you like the listener. Want to determine it? Like we use 10 seconds, that’s it like 10 seconds. And we have an event that fires that then. This person didn’t bounce. So you could say 30 seconds, you could say they have to scroll 10%.

JJ: You can define it. However you’d like to, by default, I’d say it’s not the most useful metric, because a lot of people probably are engaging with their content. 

Brent: that’s interesting. So are you saying then, oh, so if I’m the merchant, I have access to my Google analytics. I’m seeing my bounce right on this landing page.

Brent: That’s super high. Does Google analytics have the ability to tell you, are we looking then at how much time they’re looking at each page as compared to the bounce rate, then you can still get that out of Google analytics. 

JJ: It. Yeah. So by default and we’re getting it into technical technicalities now.

JJ: Universal analytics, which is like the current Google load platform. Doesn’t how, like, how they calculate time is basically the distance between two different events. So event one happens of page view loads, and then event two happens of clicks to product. And then it calculates the time between those two event.

JJ: if there’s no second event, they never click to a page. The time is zero. And so which, for example, if you have a blog post that was saying like how to fix your sync, right? If you have a very hyper specific problem of like you are a plumber and you’re wrote an article of how to fix your sink in five minutes and your article is the best, it just says it clearly, like this is your problem. This is how you fix. And there’s no action. They’re just awesome contents. People who load the page, look at it, read it, and then leave bounced. They read the whole articles stood there for five minutes. , but then there’s no second event for Google analytics, universal analytics to define the time.

JJ: So that’s like a very technical thing. Just wanted to make sure everyone knew that Google a looks for, which is the new version coming out soon. Or it’s already here, but the new it’s gonna be launching the next like into production, I’d say in the next little bit does it solve that problem, but just wanna let you know for.

JJ: The current state of affairs, that’s how it is defined. 

Brent: no, I think that’s really interesting. And I think there’s so many I know that there’s so many merchants that are probably looking at their Google analytics and saying, wow, this page is terrible. It’s bouncing right away. But people are really only looking at just one page they’re not looking around.

Brent: So maybe some. Some tips on how to get around on, I’m assuming first thing is to have some called actions at the top of the page to get some, to push to the bottom of the page and just get some to engage 

JJ: on the site. Yeah. I’d say the number one thing is define. the purpose of every page of your website, right?

JJ: What’s the purpose of this? Because for example, you could have a blog, like the plumber example I just gave that’s like all these things. And the goal of that, the purpose of that article is to rank number one in Google and to build retargeting audiences for your ads. All those people are having plumbing problems and you wanna build lookalike audiences of these people.

JJ: Because you know that they have problems, that could be your purpose of the page. Is that, so define the purpose of your page if it’s a product detail page, if you’re like for all the eCommerce people, where it’s like, Hey, buy this water bottle, what’s the purpose of this page to get them to fricking hit the buy button, or add the cart button. And so you wanna make sure that you’re measur. For that, but then every step before, like they engage with their carousel. So define the purpose of your page. If it’s a blog, if it’s a piece of content, some blogs are very much more call to actiony where it’s like, Hey, here’s how.

JJ: If you’re a plumber, here’s how to do this thing, buy this part, right? This part will solve your problems. This is how you solve the like world piece, right? Click this button. Then you wanna measure for that button click and if people saw the button to begin with so that’s probably the most actionable piece of advice that like everyone can do.

JJ: Just audit your, every page of your site to be like, what’s the purpose of this page. And is it achieving that if it’s not, let’s delete it or let’s fix it right. 

Brent: I like that. I, I think deleting it I suppose deleting, it would have some organic search that somebody would land there and then they’re like, this makes no sense to me and I’m gonna leave.

Brent: Would it be better to have it still and, but updated or make it try. Try I guess the point of where we’re really making here is we always wanna measure, we wanna create a baseline and then continue to measure and investigate always. We don’t wanna just stop. We don’t wanna leave something stagnant and there so you know, I’m interested in the second part of your journey, the 50% scroll.

Brent: Does Google analytics measure that the current version, the G GA universal, or do I FDA have a different, does the consumer have to have a different tool or the merchant have to have a different tool to do that part of it? 

JJ: Yeah so there’s kind of two tools that work hand in hand with each other Google analytics, which I like to say is like the.

JJ: Data storage, right? It’s like your warehouse of where all the information that you stored live, but then there’s another tool called Google tag manager, which is what tells Google analytics, Hey, store this piece of information, right? By default, it collects a few things like page views, some platforms like Shopify will add some extra pieces to that.

JJ: But at the end of the day, you have to explicitly tell Google, Hey, I wanna store this information and you do that via Google tag manager. And it. Like impressive as far as what you’re able to do. I just mentioned all these metrics. So you probably have never even thought were possible. But you can measure for example, did someone see something like what we do call to actions, right?

JJ: If there’s a call to action box, we want to say how many people saw this call to action for at least five seconds. And then how many people clicked the call to action . So then now. You have a much more actionable thing of saying let’s change this call to action box to then improve that.

JJ: But by default, no, not many of these metrics are collected out of the box for nearly all analytics platforms, right? Whether Google analytics, Adobe analytics any of the other platforms, not usually collecting that. 

Brent: Yeah. And I just we won’t get into technically again, but the Google analytics free version, doesn’t actually.

Brent: Report all the data reports, a subset of the data. Is that correct? Still like it’s doing 60% of your data. There’s a certain amount that it doesn’t report. 

JJ: Yes. And it depends on how many events that you’re storing. Most of the time you’re pretty much good to go. Like I’d say unless you’re like.

JJ: Doing significant volumes of like 10 million hits per month. You’re gonna have pretty much the, like all of it there, and then you’d want to use a tool to make sure you have the action, of like, how do you wanna visualize this information? That makes sense to you? That’s the, like the last piece, like the top of the iceberg, right?

JJ: Is how do you wanna actually visualize this? Because row and columns are only. For some things at the end of the day, you might want to have a nice little funnel that says, whoa, how did people view this content for each stage? And what’s the dropoff rate. 

Brent: Yeah. That, that brings up a really good point is like, how do you report to your boss what’s happening on the website?

Brent: And then maybe how do you get your boss to actually read it? 

JJ: Yeah. And for that, like I am data studio is my go-to. Like we use that power users of data studio even have an entire free blog with nothing to ask of data studio.vip. Which is, there’s not even a, you can’t even give money if you want to.

JJ: Data studio.vip is what we like. I basically, I just post about how to visualize things for your boss and for clients. Though, number one thing, just hot tip. If you’re visualizing any information is what is the one takeaway from that report? And what is the action you’re gonna take from that take.

JJ: So that’s it. If you can define those two things your boss will be like, oh, I understand this because you are gonna be very tempted to be like, look at this really cool thing about Hey, you want mobile? We actually do X, Y, and Z. If there’s no action, it’s useless. Like you can collect information out the Wazo, but if there’s no action might as well just delete the report.

JJ: And I’m like genuine on that part. Like I’ve deleted pages of reports that we have, because there’s no action behind it. So we need to rebuild that to make it action. . 

Brent: Yeah. And, I think the boss is always gonna look for what, how does this affect my, the bottom line? So those actions are gonna lead into something.

Brent: And I think that you’ve brought up a great point about how you present that data. And maybe you could come up. Maybe you could just share maybe the five top points that somebody should be looking at when building out a report. There’s always something they should do. Like they should be looking at actions.

Brent: but what are some other data that we should be seeing in a report? And then when is too much data, is it possible to have too much data for a boss? 

JJ: It, yeah, it depends who the stakeholder is. And I like to define this as far as I’m gonna call it C-suite but like the highest level of reporting who they’re not like actually practicing the thing, but there’s a, C-suite, there’s a manager, of like person who’s over that. Then there’s the practitioner, those three levels, you can define them. Like I use Csuite just for clarification, but the highest level, a mid-level and then the practitioner. And so the practitioner’s gonna want all the nitty gritty details, because they’re gonna say.

JJ: For example, Facebook ads. What’s our clickthrough rate of each individual ad. They’re gonna wanna know that so that they can tweak each individual ad to improve those clickthrough rates. The C suite does not care about each individual ad at all. They want to know how are we doing overall as far as clickthrough rate, as far as Even just rev, spend to returns.

JJ: And so define who your stakeholder is first and then take the one takeaway that they should have. So for example, if it is a practitioner maybe like, how are we trending overall? Month over month because they usually don’t look at that. So that might be useful report for them to be like, Hey, we’re trending upwards.

JJ: And then they can go to their manager and be like, look at this guys. We’re fricking crushing it. Whereas a manager might wanna say, how are we doing on each individual platform by broken down. And then the C-suite the top level might wanna say. How are we doing it as a company, as a whole, for all ad networks or whatever it might be.

JJ: So define the stakeholder is number one, priority. Number two priority. Define the simple the easiest answer. That is to the question. So define the question first, then the answer. And then if you can pull the action into that that’s gonna be ideal the higher up that ladder. You go though, the less.

JJ: The actions to be less defined right at the C-suite like the action is whatever they, the C the CEO or the C-suite wants to do. We’re trending downwards. How are we gonna fix that? That’s not me as the dashboard builders problem. That’s the C-suites to figure out how 

Brent: to fix that. . Yeah, so visualization, it could be a pyramid, right?

Brent: The less data at the top with the most important data. And I guess it’s, just like it’s important to get what is success in a, in a software project you want to get what success from your user at the end of every sprint you wanna know what’s successful for your boss. What do you deem as success?

Brent: and then just give them that data. And if you start giving them a whole bunch of data, then some of that success gets watered down. So if you look at a, if we’re looking at this as a pyramid the the highest level, the C-suite is gonna wanna see that boil down data at as they define it.

Brent: And then I suppose it’s step to the middle management or somebody to tell them. This data’s also important. We should look at that. There’s some education involved. Maybe you could talk about how to educate people as. yeah, 

JJ: I education’s gonna be the big piece of this. Cause a lot of people, whatever you reporting on, whether it’s your CRM information, your eCommerce information, even your like your warehouse, if you have a warehouse as far as shipping, as like, how are we doing as far as stock to like capacity. Are we like running outta products or are, is our, all of our warehouses full, right. That could be a very useful report for somebody to know Hey, we can actually add more products to this warehouse. It has capacity. So at the end of the day, you have to define what are we actually looking at?

JJ: Are we looking at e-commerce stats? Are we looking at warehouse stats? Like a number I tell you 823,000. That means nothing to everyone listening. You’re like that’s a lot. I’m like 823,000 pixels, like on my entire website. Ah, not that much. You to define what it is that you’re talking about to whoever it is you, because if you build this information to you, it’s intuitive.

JJ: You’re like, oh yeah, of course this is good. You got 823,000 pixels. Awesome. But to somebody else, they’re like, I got no idea what this means. So the more you can do to either in your, if you’re building a dashboard or if you’re building something report, a PDF, whatever it might be try your best to simplify the explanation of what every metric is and how it’s defined.

JJ: You like I mentioned, engage, engage. What does that mean? What is engage? So you can define that for the end user. So hopefully it allows you to hop on less calls, as you as the data dashboard builder collection reporter. 

Brent: Yeah. And I think going back to a developer conundrum, getting you as the practitioner, sometimes you get caught into what you’re doing.

Brent: And you forget that all this granular things you’re doing, maybe they’re not that granular when it’s put together makes a nice pyramid, but sometimes nobody cares about the little tiny piece that’s at the bottom. What they care about is how does that piece affect the top and then explaining that.

Brent: And then that’s, where the middle level comes in to help boil down what really needs to go upstairs? Yeah, go ahead. 

JJ: Exactly. Yeah, exactly. That my favorite analogy is it’s a bunch of. In order to have a beautiful report for that’s super actionable for somebody, whether that’s a practitioner or that’s a manager, or that’s a C-suite level, that’s gonna be the last domino to fall over.

JJ: Is that beautiful dashboard. The first is building a website, right? That’s like your first thing. You’re gonna have to have a, or building the data collection system of however, you’re collecting all this information that we’re talking about. And then you’re gonna have to have a way to report on it, to store it, all these pieces action.

JJ: So each domino is gonna push the next domino down that hopefully if you can line all those dominoes up to begin with, then you have a really streamlined way to get point a to point Z really fast, but it’s knocking that first domino down. So that’s the way I can most easily define this entire process.

Brent: Yeah. So I wanna just talk a re just briefly. I know that you’re a videographer, correct? This this idea of adding video to content and adding content or video content to products, and then having that as part of your content action where are you seeing that going? Is that it’s been around, but a lot of, I, I’m just gonna say a lot of merchants Haven, an adopted video, like you would think they should.

Brent: How important is that? . 

JJ: Yeah. Just for everybody listening, like I used to I shoot, I shot videos for production for a while. So I’m very familiar with the video process as far as on a site, it can do both pros and cons and that’s where the biggest thing is to say, define what we’re trying to do.

JJ: And the biggest, if you’re trying to educate really quickly and there’s a video. It might be a great use case, right? It might be an awesome use case to define who you are, introduce your team, introduce what’s happening. How’s what’s about to go down by your next action. I’m a big fan of that personally.

JJ: But if everyone’s on mobile say for example, you’re a lower A ticket product or maybe it’s a less investment right. To do. And someone’s a soccer at a soccer game watching their kid play a game. They’re not gonna watch your video scrolling through during halftime. There’s not.

JJ: So if that’s the use, if that’s like where people find it, like not a great case for a video. But if it’s like, Hey, everyone’s always browsing on desktop because they’re trying to solve this problem because they need to do X, Y, and Z. a video might be an awesome use case. So I just defined where the user is in that journey of like, where would they physically be?

JJ: Is usually my biggest tell. And are they on a desktop? Because mobile’s usually not the best. And then a video might be an awesome. Use case. 

Brent: Yeah. And it would be good as supplemental information. And would you, maybe in a stacking and a responsive version, you could push the video to the bottom of a blog post if you want to have it on there, but still want to have your main content for people to read through.

JJ: exactly. Yeah. And I love to measure you can measure via tag manager, people who play your video. So then you can say, Hey, here’s people who saw the page, right? People who played the video, people who watched 50% of the video, and then you can say, is it worth it for us to invest in video? We actually had a client that was like, we’re going all in on video.

JJ: But we were gonna test it with, I think, five production, like high production videos education content, and. I was like, cool. Let’s define what success looks like first. So for these first five videos, you’re gonna invest a lot of the time money effort into what they’re like. Okay. If 50% of the people that hit this page watch 50% of the video success.

JJ: Awesome. We’re gonna do basically and success, like we’re gonna do double down on this. We’ll make 10 next month. It was like 90% of people watched 70% of the video. like just knocked their benchmark out of the fricking park. And so if they didn’t define that up front of what are we trying to do?

JJ: It’d be super hard to take an action on that because we did, because we’re measuring it because we had all these dominoes lined up. Now they’re like we’re doubling down next month and we’re gonna even have more content people to en engage with. And we’re just gonna keep measuring it to say, Hey, if we ever drop down to our 50%, 50%, we’re gonna either slow down or reevaluate it.

JJ: So that’s a very actionable, hopefully actionable, or at least real life use case of video. 

Brent: Yeah. And I think at least YouTube anyways people sometimes get stuck on YouTube and then they, instead of going back to Google to search for something, they’re just searching for more videos on YouTube because they’re enjoying it.

Brent: And I know that some of the merchants have put up content just to drive traffic from YouTube to their site. And then you could also embed that video with your product. So anyways, exactly. Yeah, so we have, couple minutes left here. If you were to have some insights on marketing trends for a D TOC right now, what would you, what would be a nugget you could give a merchant going into the last half or the second quarter of of 20, 22.

JJ: I’d say defining what you’re trying to do is gonna be really important moving forward. It used to be super, super easy to do just about anything online. There was no competition. There, mark, the, there was a blue ocean of for everyone who’s read the blue ocean book would reti really recommend.

JJ: So it was super easy to do anything. You could basically throw money. And make money back and you’re like, oh cool. This is gonna be awesome. So the biggest thing I’d say is define what you’re trying to do and what success looks like to know if you’re gonna keep doing more of that, or if you need to shift paths and what the minimum amount of effort required to get an actionable result is because a lot of people entered online in the past 18.

JJ: That’s a fact so you have more competition online. Whether that is also good, because now consumers are much more understanding of the online process. So you have to define what is the good enough for us and how do we improve that so that we know that we’re improving. And then how can we All the metrics that we’re trying to increase because that’s gonna be key in the net, like moving forward.

JJ: You’re just gonna have to be on top of your game as far as knowing your numbers so that, if you swung and you missed to not do that again, because you can swing and miss that’s. Totally. Okay. Just don’t keep swinging and missing. . 

Brent: Yeah. Yeah. So yeah, I like that defined success. And again, in, in in the software world, defining your success at the end of every deliverable or what is the deliverable I think is a great way to look at it.

Brent: What is the success out of this is is really good. And then I like that minimum effort. What is, what can we do at a minimum to get to what our success is? And then what is overdoing it? I think you, you said Briefly got a video again, you could spend $20,000 on a one minute video. Would that be worth it?

Brent: Or should you just go out and get yourself a GoPro and make some fun, fun video on the road that would get you the same effort for very little cost? That’s good. JJ, as we finish out, I always give everybody an opportunity to do a shameless plug about whatever you’d like to plug. What would you like to plug.

JJ: Yes. If anybody has would like to build out more visualizations for what you’re doing. Data studio.vip is tons of free resources on how you can do this for yourself. We’re building that out as we speak lots of awesome content. If you want this done for you, anything that I’ve spoken about media authentic.com.

JJ: Sure. There’ll be like a link in whatever bio we’re talking about here. And we can figure that out for you, but W feel free to connect any way. You’d find. 

Brent: Yeah, and I’ll put those I’ll put those URLs and contact information in the show notes. And I’m a big fan of data studio. So data, studio.vip, I think is great.

Brent: Thanks for that. JJ Reynolds thanks so much for being here today. It’s been a great conversation. We didn’t even get to B2B. But I think this is super valuable content for any merchant that wants to do. I I think you’ve made it easy to understand, and I think this, that four step journey for a client or for a merchant to understand what their clients are doing, what their users are doing are really important.

JJ: Yeah. Thanks so much for having me Brent. And if we ever need to talk about B2B, let me know, because we’ve got lots of examples on that as well. 

Brent: great. Thank you so much. Thank you.

The new world of digital with Lewis Rothkopf

Remember the days when you could turn on Google Ads, and the customers would come flowing in the door? Those days are gone, and Lewis Rothkopf walks us through techniques and ways to spend smart and measure often.

Lewis has led global businesses and revenue lines at the world’s foremost marketing, ad tech, and media companies. Lewis has contributed to the demand-side global inventory supply chain, as well as mobile, video, and advanced TV, streaming audio, digital out-of-home (DOOH), social, and emerging channels businesses.

Brent Peterson and Lewis Rothkopf discuss the digital advertising industry from the lens of a veteran digital marketer. Rothkopf’s innate interest in this niche started at a very young age. He exerted all efforts to learn the processes and metrics on how marketers measure success in this field, including artificial intelligence (AI) and media buying. Enjoy this episode and gain insights into digital marketing and advertising that is not just from the book.

Stay tuned and enjoy this Talk Commerce episode.

A notable quote from this podcast:

“So there’s no machine to learn, and then take those learnings and turn them into better outcomes. So AI is becoming more and more entrenched in everything that we do. It’s just more often called machine learning. And, you know, we do it, I’d have to imagine that all of our competitors do it. But it’s the sort of thing that can make better decisions quicker than humans. So yeah, you got to get on board with that.”

Our guest today is Lewis Rothkopf, CEO of Martin.ai, a demand-side platform (DSP). It is a media buying platform for marketers.

Here, Lewis discusses the idea of digital advertising from its primitive days until today, when AI is already making noticeable progress in the industry.

Gain useful insights on how the advertising industry has changed over time, including how marketers measure campaign performance’s success in the past until now. Look at the optimization efforts that can be done these days to maximize the results of any digital advertising campaign.

Key Takeaways

[2:18] – How do marketers measure success? (Click Through Rate, Cost Per Action)

[6:06] – The Technicalities

[11:46] – The Budgeting Scheme

[14:05] – How does Google rule the digital advertising industry?

[16:44] – The Industry’s Changes: Explained

[26:48] – The Role of Martin.AI

[35:01] – Artificial Intelligence in Digital Advertising

Ideas/Quotes by Lewis Rothkopf

  1. In truth, I’ve been in the space, as Brent mentioned, for 23 years. I started at the beginning of digital advertising at a company called double click, which was subsequently bought by Google. I’ve seen it all I’ve seen what works, I’ve seen what doesn’t work. And it’s really been my mission for the last six or seven years to fix the industry. I began by trying to fix it during most of my career on the sell side of that is people who are selling advertising. And you know, not surprisingly, if you really want to fix things, you have to be on the buy side, which is the people who have budgets to spend money on advertising, because of course, those who have the budgets are those who can really help dictate a better and stronger and more accountable industry.
  2. So in the very beginning of digital marketing, marketers measured the success of their campaigns by click-through rate, right, so an ad is displayed, the user a consumer clicks on the ad, and a number of times, and that n number over the number of impressions is your click-through rate 23 years ago, that was really the best measure that was used, there’s only the only measure that was used. But that was a really long time ago. And so things haven’t changed, marketers are still measuring their success by things like click-through rate, they’re also measuring by things like views through so how many people sat and watched a video ad to completion. And if that video complete rate is high, then the marketer goes home happy, except maybe they sat there and watched the whole video, or maybe they were in a different browser tab, or maybe they were in the bathroom, or maybe they were in the kitchen getting a snack. And so that’s not a great measure, either, where you start to get a bit more excited is something called CPA cost per action.
  3. Look, we’re a small company martin.ai, we have a dedicated group of engineers and data scientists who are willing and excited to help you, I mentioned that we’re a small company because we help in many cases, midsize agencies and mid-sized marketers punch above their weight, right companies that don’t have an army of data scientists in the house to do all this measurement and all this optimization that we talked about, they can do it with us, and they are doing it with us.

Resources/Social Media

Martin.ai Website

https://www.martin.ai/

Social Media

Twitter: https://twitter.com/martin_rtb 

LinkedIn: https://www.linkedin.com/company/martin-ai/ 

Transcript

Brent: Welcome to this episode of Talk Commerce. Today. I have Lewis Rothkopf. He is the precedent of Martin DSP. He is a digital media veteran with more than 23 years of experience in the space. And the funny part is Lewis was just telling me that he’s twenty-five years old.   Lewis, why don’t you go ahead, introduce yourself, and do a better job than I did. Tell us what you do in your day-to-day life and maybe one of your patterns.

Lewis: Thanks for having me. Your note that I’m twenty-five years old is absolutely accurate. I began working in digital advertising when I was a fetus, and that’s why it all sort of worked out so well. I also want to compliment you on getting the name right on the first try. Rothkopf means redhead in German. And if this were a video podcast, you would see that I do not have any red hair. So I’ve begun with my name being a lie. In truth, I’ve been in this space, as Brent mentioned, for 23 years, and I started all the way. Back in the very beginning of digital advertising at a company called DoubleClick, which was subsequently bought by Google.I’ve seen it all. I’ve seen what works. I’ve seen what doesn’t work. And it’s really been my mission for the last six or seven years to fix the industry. I began by trying to fix it during most of my career on the sell-side,

that is, people who are selling advertising and, you know, Surprisingly if you really want to fix things, you have to be on the buy side, which is the people who have budgets to spend money on advertising. Because, of course, those who have the budgets are those who can really help dictate a better and stronger, and more accountable industry. That’s why I made the jump. And it’s why I’m really passionate about what we’re going to talk about today. 

Brent: I think the idea of marketing has been out for a long time. And then the idea of measuring what your marketing has been out, you should always try to measure it. And I think the reality is that most people doing marketing aren’t measuring at all what they’re doing. I know that we talked a little bit in the green room about your approach to measuring the marketing and what that means to the person that is spending the money on marketing and how that really helps them, and maybe go into some of what we were talking about where it hasn’t, you know, things are changing in the digital market.

Lewis: Yeah. Great point. So in the very beginning of digital marketing, marketers measured the success of their campaigns by click-through rate, right? So an ad has displayed a user, a consumer clicks on the ad and number of times, and that N number over the number of impressions is your click-through rate. Twenty-three years ago, that was really the best measure that was used. There was only the only measure that was used. But that was a really long time ago. And so things haven’t changed. Marketers are still measuring their success by things like click-through rate. They also measure by things like view-through, so how many people sat and watched a video ad to completion? And if that video complete rate is high, then the marketer goes home happy except. Maybe they sat there and watched the whole video, or maybe they were in a different browser tab, or maybe they were in the bathroom, or maybe they were in the kitchen getting a snack. And so that’s not a great measure either. Where you start to get a bit more excited is something called CPA cost per action. And that is the cost that is imputed from the number of times that a consumer sees an ad. And then it takes the action that action can be buying a product or signing up for a lead gen form on a website or really anything. And while that is eons better than click-through rate, it’s still problematic. And the reason for that is a cost per action fails to separate users who saw an ad, comma, and took the action, so I know I’m going to go out and buy a pair of Nike sneakers.For instance, I see a bunch of Nike ads, and then I go and buy the Nike sneakers, but I was going to go buy those sneakers regardless of whether or not I saw the ad versus somebody who knew they were going to buy sneakers, saw the ad for Nike’s. These are super awesome. And they went out and bought the Nike’s because they saw the ad. And so that relationship between people who saw the ad and then people who bought the product because of the ad is called incremental lift. As opposed to CPA, which only tells you how many people saw the ad, comma, and how many people bought the product. So you’re giving credit to wherever you’re running that advertising as a marketer for people who would have been your customers anyhow. And so I think that’s crazy. We believe I believe that in order for measurement and optimization to be accurate, it has to be. Otherwise,

you’re using these old proxy metrics or vanity metrics where, you know, as a marketer, you pat yourself on the back. You’re like, oh man, a lot of people saw the video. But it’s not really true. And even cost per action. All it tells you is that you reach the right audience. Congratulations. You reached people who buy sneakers but were going to buy sneakers. Anyhow. So you just wasted that money as opposed to crediting the supply source when the action was taken because of the advertising. 

Brent: That’s a great point. And taking on a real-life example, Nike has a, and I’m a runner. So Nike has a type of running shoe called vapor fly that every single one of the major marathon winners are wearing. However, I guess there is a whole community of people that talk about those and then use them. I think at some point somebody’s going to buy them, but you write it. How do you determine, was it me who saw the ad for vapor fly, or was it me that I saw the race where I see every single runner wearing them or the winners wearing them? Like, how do you make that connection? That’s where you’re getting to? 

Lewis: Yeah, it is. And another great point you just made. So I’ll dive ever so slightly into the technical aspect of it, but I promise I won’t go too far. We use a technology at our company called ghost beads. We didn’t invent it. It’s been used by many marketers. But it avoids much of the noise and much of the false positives that are associated with the older forms of measurement like CPA. And so you use these anonymous unique identifiers to create a statistically significant and accurate model of people who were shown the ad and took action because of it. But then critically, you use a statistical model to not show the ad to a holdout group. So think about it like the random control trials that pharmaceutical companies used to understand placebo versus effect and safety of medication. Now, to be clear, we are not saving lives here. This is digital advertising. Everybody goes home alive. And so let me stop the patting ourselves on our back too much. But the difference there is you now understand the Delta between those who saw it and those who took action because they saw it. How do we do it in the case of online sales or being driven to a website where that’s the marketer’s KPIs. It’s always on. It’s built into our platform. We do it by default, and we highly recommend to our customers that they measure that way. If your KPI is brand lift or brand sentiment, if you’re a brand advertiser running a branding campaign, Then we work with a survey vendor that similarly has a control group and a holdout group. If your measure is real-world traffic, so football, we work with a partner that does football analysis and understands test group hold out-group, et cetera. So long answer to your short question is it’s not enough to say, Hey, I think we should be figuring out causation it’s. I think we should be figured out causation. And now, what’s the best way to measure that to the KPI that I want to achieve. 

Brent: Okay. That’s very interesting. At the top level, you’re sir, you’re doing some broad surveys to determine what is the group doing, and then you have, do you have it different levels that you’ll break down those statistics as it go through. How does that work? So in a break it down a little bit,

Lewis: We work with a great company called lucid which is our default partner for serving they’re built into our platform. They’re really good at what they do. And then they have the statistical models to run against their panel of consumers who’ve seen the ad versus not seen the ad and then they derive statistical significance of Whether it had enough responders, whether there were enough impressions that were delivered in order to achieve stat SIG. And then based upon all those inputs were able to understand causation, unlike in some of the older models you do have that delineation between actions taken because of versus  noise. And let me explain a bit what I mean by that? A way of AB testing, the effectiveness of a campaign that is still in use by marketers is DMA based. So I’m going to show this ad to people in these designated market areas. And I’m going to show the same ad to people in these designated market areas and I’m going to work really hard to ensure that the DMA audience population. Is similar. So roughly same number of people, roughly same demographic makeup, roughly similar DMA size. The problem is it doesn’t work. Because there are all these exogenous factors that come into play when you’re using geographic differentiation, what did the consumer in one DMA here on the radio that made them take an action. What stores are located in these DMAs? What TV commercials did they see what’s with road traffic in the area that will lead people to either go to a store or say, you know, what to hell with it? You know, this was my first choice of product, but I’m not going to sit on the 4 0 5 for an hour. So I’m just going to go buy this other thing. And so while it’s a sound idea it’s really imperfect because a lot of the noise that’s injected in. We look to figure out and to be clear, like with any model there’s going to be noise. So the objective here is not no noise. You know, this vaccine is safe and effective 99% of the time. Again, it’s digital advertising. We’re not saving lives here. We don’t necessarily strive for 99 and, you know, five nines statistical accuracy, but we try to get really close. And noise is definitely a thing, but it is much less of a thing than with some of the older models, even models that are better than doing silly things like measuring a click-through rate. They still do have some noise and we are on a mission as an industry. To get the noise out and really help marketers understand cause what’s worse. So you measure a campaign and imperfect way you get your report. That’s bad enough because now you don’t know if or where or why your marketing is working. But you double down on those results and you optimize towards stuff that is irrelevant. And so you create this vicious cycle of garbage data in garbage outputs, and you may feel good about the clicks you see on a thing, but is it really moving your shampoo off the shelf? I dunno, it’s not knowable unless you measure this stuff correctly.

Brent: You’ve talked about some larger things here is this apply to just big brands or can this filter down to medium size and even the mom and pop shops? 

Lewis: Absolutely. I think, look, I think it’s more important for smaller marketers, because their budgets tend to be limited. Like you don’t want the pizza place. We stick their money. Like you just don’t. It works at all stages of the. So whether it’s a brand advertiser and looking to generate awareness, or it’s a direct response advertisers looking to create, I don’t know lead gen or an online purchase it works at all levels and it’s important at all levels, right? Like again, think about the pizza place example. Did someone come in and buy a slice because they’re like, oh man, Pizza sounds really good. This ad was shown to me at exactly the right time and the cheese is bubbling and it’s awesome. Or did they see that ad as they were already on their way out the door to go to Brent’s pizza place? Brent’s pizza place does not have a lot of money to waste. And so it’s really important for them to understand what’s working and double down on it, as opposed to we call it spray and pray where. Sure. Close your eyes and cast a really big net and hope to, you know, DD of your choice that it’s going to work.

Brent: Yeah. And I can guarantee that nobody’s going to go to Brent Peterson’s pizza place and look for a Swedish meatball pizza. You know, I think it’s one of the interesting things here. If you look back like 20 years ago, I can remember that at the time you could spend money on Google ad words, and it was like a faucet. You just started doing Google ad words, and suddenly you’re getting a ton of leads right now, 20 years later. It’s not the case anymore. And I think you make a really good point about wasting your money and the novice person who’s logging into Google ad-words thinks still. Hey, if I’m going to throw $5,000 or $10,000 at this, I’ll get that in return, but double or triple fold. And in lead quality, even maybe talk about the. The flaws in just throwing that money at Google ad-words for the your pizza place and your Lewisredhead pizza place. And that how maybe thinking more about how that works for that consumer and for the for the person doing the marketing helps them.

Lewis: So look, I mean, Google’s a great business. You’re absolutely right. Like you turn it on and you see search is great. Nobody can debate that. But search is really good for lower funnel, right? Like you’re searching for sneakers. Just, you already know you’re going to buy sneakers. It’s what happens when you don’t already know that you’re going to buy sneakers? You know, you see an ad for for Brooks running, for instance, or you see an ad for Nike or seen an ad for Reebok. Mainly those are pretty fly shoes. Like I could really use a new pair of sneakers, like hell yeah. And then you see the ad the second time and you’re like, oh man, my sneakers suck. I could really use some new sneakers. And then you see the ad the third time and you’re like, oh, F it like, not only do I want sneakers, I want Nike sneakers. I want Brookes sneakers. I want Reeboks Adidas, sneakers. And now. Okay, cool. Let me search for Nike sneakers and then, you know what the search people do a good job. They click on the link and all as well, or they just go to nike.com or they just go to Brooks or reebok.com. And they buy the sneakers now, should search get the credit when the consumer already knew they were going to buy the sneakers by virtue of having seen the ad for a sneaker brand. You know, another example is brand sentiment. So let’s say your brand doesn’t have the greatest reputation, or not even something so extreme. You’re known as a brand for Swedish meatball pizza place, but you’re like, That’s not all we do. Like we also have Turkey. And so you want to change, these examples are terrible. I’m so sorry. You want to change the public’s perception that we’re not just a Swedish meatball pizza place. We’re actually a Turkey place. And so getting at Turkey tacos exactly. And tacos. So get it the really early in the funnel. And then get a survey that says, Hey, did you, the Brent sells pizza? Yes, of course. That’s sort of your you know, baseline question, but did you also know that Brent sells Swedish meatballs? Oh man I didn’t before, but I do now. And that’s how you measure lift really high in the funnel. 

Brent: You know, another thing as a conception for a smaller, medium sized business too, is they have this pool of budget money they want to spend. And they devote all that money to Google ad words. They don’t think about this bigger brand and where they should be putting some of that money. Maybe talk a little bit about how some of that should be spaced out for your ad spend and what type spends you’re going to go after it’s 

Lewis: such an easy oversight,. Right because to your point 20 years ago, you turn on the spigot and boom it’s money and it’s not that it’s not boom it’s money today. It’s that consumers have way more choices than ever. And you have this notion of DTC direct to consumer, which really was way less of a thing 20 years ago. And so at that point in time, it was just about I am searching for sneakers. And you know, here’s the only place I’m really going to see it relevant sneaker ad because. Real relevance only comes from the search signal. So Lewis search for sake first for sneakers. And so I’m going to put them in a bucket of people that like sneakers and I’m gonna show them a bunch of sneaker ads. But I like other things too. And I do other things too, and I have my own preconceived notions about which brands are better or even which you know which model is better within a brand. And so when you buttress your lower funnel campaigns with upper funnel brand awareness brand sentiment, as we talked about a moment ago and then understand the brands lift will now you’ve come much closer to solving that classic Wanamaker problem of, I know half of my advertising works, but I don’t know which half, like you can keep targeting that unknown 50% by using only a lower funnel tactics, which is fine, or you can make the pie bigger and get a bit more precise on how much of your target audience you’re reaching effectively by way of your advertising and then optimize like quickly do this stuff in real time. If you sit around, run a campaign and then get a lift report a month after the campaign what do you do? Like that money is spent, you’re not going to get it back. And so all you could hope to do is get it right the next time. Versus if you’re measuring this stuff in flight, you could make the changes right away and double down on what works and pull back on what doesn’t.

Brent: I did an interview a couple of weeks ago with the guy from the Netherlands. Who’s really big into conversion optimization. And he gave the example of booking.com and how booking.com has been a big proponent of AB testing and conversion testing and all that fun stuff. And he gave the statistic of, they have 10% win rates on their hypothesis or their tests. Which leads to say that then they continue to do it. And booking.com is a pretty big company. The idea of the merchant and what they should expect in some of these metrics and then how do they see success after that? Especially if you hire a company to do conversion optimization. And they say, well, 10% of our tests are good. How do you as a marketer, how do you translate that to the merchant? No, this is really successful. 

Lewis: Yeah, exactly. So which channel. That’s awesome that you’ve got 10%, like that’s more than awesome, that’s incredible. But how much of that was caused by the advertising versus coincidental to the advertising? Like you got to know what the, and 10% is and who they are so that you can reach more of them or, similar to a drug trial where it’s just not working and you’re running the risk of hurting people just to stop. Just stop And regroup. And there’s a whole bunch of factors that go into conversion and going to ad effectiveness. One that is very overlooked so much of the time, and it’s pretty surprising is. Like at the end of the day, like you, you’ve got to have creative that resonates with the consumer. And so almost all the time when a campaign is not doing well on a particular publisher or a group of publishers, the marketer, or the agency will pull that publisher off. Cause they’ll say, you know what? Your audience sucks. They don’t click on anything. They don’t convert. It’s probably the wrong people. And so they pull the ads away from that audience. Then they do the same thing with other sites and you know, this is how much optimization runs today. However, Your creative is terrible. Like it’s ugly. No, one’s going to click on it. Nobody wants to see more or it’s obnoxious, you know, you load the page and then you get this like sound on auto start video and it pisses the consumer off. Like you got to remember that all the marketing science-y stuff, that’s smarter people than I love to talk about is so important. But creative is really important too. So if you’re getting 10% resonance on a campaign, you know, sort of statistically, that’s great, but how much more resonance would you get if you tested multiple varying variables within the creative, right? If you dynamically optimize creative based upon what you know about the context and the anonymous attributes of that user. Will you just by so doing, you’re already speaking in much clearer and more appropriate language to your target customer. 

Brent: I think oftentimes, especially as your budget gets smaller, creative gets almost non-existent right. They think that tech stack is going to be, what’s going to sell them. And you’re exactly right. How important creativity can be and how I can think of a brand called the Geek Squad. I, the Geek Squad started in Minneapolis. And the owner drove around Simcas and had all kinds of old-fashioned cars that he drove around and did repairs. And then all of a sudden Best Buy bought them. They’ve kept some of that creative but he started that business on this little creative notion of getting better service and more innovative support for your computer needs. And now suddenly it’s doing everything everywhere in the country. You know, I think a lot of, again, going back to creative, a lot of smaller merchants look at creative, even medium-sized merchants, they don’t, they forget about creative. They just think. I like your idea of the hitting the shotgun, trying to hit everything at once, and then hopefully something sticks. 

Lewis: You’re a small advertiser, you’ve got a small target audience. You got to reach them and you don’t really have a budget to hire a, you know, top 50 creative shops. You can go on to Fiverr, right? You can go on to, you know, any talent marketplace and find somebody fantastic and tell them here’s what I’m trying to communicate. I don’t know the first thing about, you know, creative or brand marketing, but just do something that is going to result in the consumer being inspired, to take any action based upon it. Do at least that and do it in a way that the ad is not like repulsive or offensive by being so obnoxious to the user. And I can almost guarantee you that with better creativity comes better outcomes. 

Brent: Sometimes it’s noxious to the user. It works, but not very often. So really quick, a B to B, I know you’ve mentioned, I think a lot of these things apply directly to D to C, but B2B is such a huge market. And I think a lot of those, a lot of the people that are on B2B are what’s called legacy. Pre sometimes pre-internet users, even a B2B marketing is kinda hitting its stride now. Does a lot of the supply to B2B?

Lewis: Yeah. So we have one B2B client. We’re hoping to bring another one in soon. It’s re you’ve dealt it, right? It’s very important that you reach the right consumer and in the world of B2B, the Target’s just smaller, right? Unless you happen to be a massive solutions provider or you sell products to, you know, every store owner, every business owner in the world, which let’s face it is not many. Then you’ve got to make sure that you’re reaching the right people. So examples of that would-be doctors in hospitals lawyers in law practices, maybe not even while they’re at home, maybe only when they’re in the practice or they’re in the hospital because they’re in the mode of. I don’t know, boy, these syringes are really terrible. I would love to find a place to buy new and better syringes. So what does that mean in terms of nuts and bolts? Budgets, probably going to be much smaller because there are just fewer doctors in hospitals to reach than there are sneaker aficionados. And so you have less to screw up with, right? Like getting it wrong from a targeting and creative perspective or a measurement perspective when your audience is, you know, 20 million consumers are like, you got a little runway here, you’ve got sort of statistic probability of some of it working somewhere just by virtue of the large numbers. But if you’re trying to reach 500,000 doctors in hospitals who want to buy those new syringes. You can’t screw up from the get-go. Like you have to make sure that you’re getting it right. And if you’re not getting it right again, have those results available to you in real-time so that you can titrate up or down based upon how the campaign is performing tweak, tweak the creative, but absolutely this certainly applies to B2B marketers. You’re just targeting a different mindset. And so the demographics, the psychographics, the geography, right? So remember. You’re able through the use of, you know, a handful of partners to draw these squares or around a map. And, you know, maybe the one square you want to draw is this hospital and that hospital. And just by virtue of doing that, we’ll now you’re able to understand what the footfall is based upon the advertising that you’re running. And a pretty, pretty good sense that you’re targeting the right individual. 

Brent: So if maybe just walk us through, if somebody has some interest in free-thinking how do they talk to you about this and how do you start that conversation? So you can reach out to us and let’s not make it an advertisement, but I think this is super interesting.

Lewis: Yes. We like to help people you go to martin.ai and you see. You know, Lewis sounded really interesting or he sounded like a moron, but what he was talking about was interesting. And the first question we asked, both prospective customers and existing customers, when they want to launch a new campaign is like, what do you want to do? Like do you want to get people to come to a physical location? Do you want people to buy things online? You know, like what’s your objective here? And then we say, who’s your audience. Then we say, how much are you looking to spend? Because that absolutely dictates how much of it you’re doing, but what it should not dictate is quality. So if you come to me or any of our competitors with a $5,000 budget you should get as high-quality properties that you advertise on. And as. Quality results as those that come to us with a $50 million budget. However, what you might struggle with a little bit is achieving statistical significance in measurement studies. So for things like visits to a website or, you know, online dr type metrics or sales online, it’s pretty easy. If you’re looking to do brand sentiment, measurement, footfall measurement, you’re probably gonna have to spend a bit more than 5,000 bucks in order. To achieve stat SIG and take some real learnings from the situation. But again, like we’re happy to help folks succeed. They have to have a good understanding of what good looks like to them. And then we can help them take it from there. And whether that goal is sales, you know, foot fall sentiment we can help tune. 

Brent: People have to wake up and realize as well, is that because the market is so small. I’ll talk about hosting companies. Hosting companies tend to have a small market, but they tend to spend a lot of money to acquire a customer. So whether they’re using a LinkedIn ad or they’re using a Google ad or whatever they’re using that specific ad rate is going to be a lot higher than another industry, especially if you’re talking B2B like this, and a lot of times. I hear from inexperienced b2B owners that don’t understand some of this digital and looking back at some of the legacy B2B, where they’ve always relied on a call center to take their sales. And it goes right in another ERP and they’ve skipped the website completely. Suddenly. It was. W let’s look at their website, and let’s try to acquire some customers. They don’t necessarily equate how much it costs to acquire that customer for that voice. There’s a person that’s making outbound calls. There’s a whole cycle to that. I think one thing that we were saying, or you’re saying here is that there’s this bigger picture that most owners have to see entrepreneurs, whoever it is that’s spending the ultimate check has to see that the cost to acquire this customer is going to be. Somewhat similar if you’re going strictly digital as if you’re going analog over the phone.

Lewis: Yeah. And targeting it’s just so much more precise and it’s so much more efficient to execute via programmatic pipes and right. Digital pipes than it is via, you know, the old, like sending an IO back and forth, you know, using your fax machine, some of the, getting it right stuff for B2B. Is super unintuitive, right? So you know, you spend enough time in this stuff and you start to draw some really interesting correlations things. Like people I’m only making it up. People who are in market for a luxury auto are substantially more likely they over-index on people who like chocolate chip cookies, okay. You’ll never know that before you run a campaign. And the other thing is it doesn’t matter. Just because you can know something doesn’t mean that it makes sense for you to exercise, right? However some targeting is super intuitive. You are a hosting company and you want to reach IT professionals. You want to reach only CTOs. And so we run a digital campaign that runs on a streaming audio channel. You can buy. You know, radio programmatically that is of particular interest to CTOs or buy a podcast spot on, you know, the CTOs who drive to work in San Francisco podcast, right? Podcasts are the new magazines they allow for super precision targeting. It is a misconception that you can only do that by picking up the phone and calling the podcast. It’s just not the case. There are multiple avenues today to be able to run programmatically in audio and the holy grail of all of this is reaching consumers and businesses. In the case of B2B cross-channel. I’m a doctor in a hospital and, you know, I’m looking up new syringes on my hospital computer. And so I see the app, Benny, get into my car and I’m listening to the, you know, doctors who need syringes podcast. And all of a sudden I hear whoa, that’s the same ad. I just heard. That I saw back when I was in the hospital and then they get home and they’re watching, you know, connected TV. They’re watching a program on-demand and they see that ad for that syringe company. And it’s oh my God. They know exactly what I care about. Isn’t that awesome. And you know, you do have to be a little careful not to be creepy about it. You do have to be careful to make sure that you’re not targeting. Individuals because that’s gross and contrary in most cases to industry rules and best practices. But if you’re targeting a group of anonymous consumers, anonymous business owners, and you’re surrounding them with high-quality advertising, well, now you just replicated in, in many senses, the most effective historical analog campaigns. And you’ve done so in a way that it’s pretty efficient. 

Brent: If so, looking ahead into 2022 now what is the thing that a merchant who’s going to spend some money on advertising should be looking at? Is there a trend that you see coming testing?

Lewis: Test and learn like experiments only work when you experiment with them. Don’t go in with preconceived notions, right? Like you’re a very smart person. I promise you, you don’t know everything about how your campaigns are going to resonate. So again, some of these things are really intuitive. Most of them are not. And so don’t be afraid to experiment with creative, with targeting with, you know, all the different apps with. With the kinds of sites or apps or radio shows that you want to get on or connected TV channels. Don’t be afraid to give all this stuff a try and don’t be afraid to give it a try with a modest budget like you may not reach stats SIG on a $5,000 budget, but you may start to get some inklings that would lead you to move budget away from something else in, into this. And for the love of God, like don’t optimized to stupid old things like just don’t optimize to CTR. Don’t optimize to, well, I have $5,000. I want to spend $5,000. So let me just let the supply source run this thing for $5,000 worth and like sure enough, that’s going to lead to success, right? No, don’t do that. Be scientific about that and work with companies that are willing and ready to help you by making data scientists available and saying, this is your campaign, these are your results. But did you know that if you just tweaked the creative like this, or if you just increased your bid amount by 10 cents, you’d be able to win over this whole additional audience that is square within your strike zone? You gotta work with people that are willing to tell you that. 

Brent: I think you’ve hit the nail on the head there. So one last question while we close out here, where do you think AI is going to bring us into this next realm? And how much of a play do you think it has? Certainly, it’s making a play in the smaller portions of marketing, but do you think some of these bigger things are going to be controlled by algorithms rather than just by people?

Lewis: Great question. The exciting and challenging thing about that question is everyone defines AI differently, right? Like the buzzword of AI. Is probably a bit better replaced with algorithmic machine learning. You know, at our company, we have algorithms that can be customized based upon things we know from the advertiser and things we know about the user. And that helps inform how much we bid on a particular impression opportunity. I think if you’re not doing something like that in 2022. Where can’t you do that? You can’t do that in analog at all. Like you just can’t you’re buying a page or you’re buying time or you’re buying like, you know, a column of a newspaper. But there’s no impact from who’s reading that newspaper or, you know, who is my target within that newspaper readership. There’s no feedback loop there. And so there’s no machine to learn and then take those learnings and turn them into better outcomes. So AI is becoming more and more entrenched in everything that we do. It’s just more often called machine learning and, you know, We do it. I’d have to imagine that all of our competitors do it. But it’s the sort of thing that is able to make better decisions quicker than human. So yeah, you got to get on board with that. 

Brent: And the important part there is machine learning because you know, part of this, everybody does have something they’re calling AI. And if it doesn’t learn from your mistakes, it’s not really AI. It’s just automation. And I’ll just give my last little clothes out. I been trying some of these Jarvis style services and it wasn’t Jarvis that I tried, but it writes, you know, an article for you or whatever that thing is. And as many times as you put it in, it’s going to give you the same thing back out and there’s no way to tell it. It did it wrong. And I remember I tried to do it just to summarize a podcast and it made up all this stuff about a guy that he did, this stuff wasn’t even real, but it gave me a, you know, five, five paragraphs of content. That was completely wrong. I couldn’t use any of it. It gave me some bullet points that were good. The content within that bullet point was completely wrong. And the point of this is that it was automating it, but there’s no way to tell it. No, this was completely wrong. And here’s why in order to make machine learning work, it has, you have to have, you have to tell the machine. When it’s done something wrong so it can learn that’s my little soapbox complaint. So apologize for throwing that in. As we close out, every episode I give you a chance to do a shameless plug about anything you’d like to plug today.

Lewis: Yeah. So Lewis, what would you write to him? Always full of shame in my life. So I will try to be shameless. Look, we’re a small company. Martin.ai. We have dedicated groups of engineers and data scientists who are willing and excited to help you. I mentioned that we’re a small company because we help in many cases mid-size agencies and midsize marketers punch above their weight. Right companies that don’t have an army of data scientists in-house to do all this measurement and all this optimization that we talk about, they can do it with us and they are doing it with us. And, you know, as a smaller company ourselves, we’re super, super proud of being able to help marketers again at all stages of the funnel and all up and down in terms of size and scope. And I guess the shameless part of this is. We’re really the only platform that we’re aware of that has a built-in incrementality measurement, always on. So in real-time is your thing working. And if it is to go back to your immediately proceeding point, like feed that knowledge back into the algorithm, and pretty quickly you’ll start to learn.
Okay. People who come from making this up Chrome web browsers are more likely to resonate with this particular type of campaign. And so bid more for consumers that are in Chrome web browsers and, you know, to close it out if you’re not measuring the right thing, you’re telling the algorithm the wrong thing, and it’s just going to be an amplification of bad decisions.

Brent: And I think those bids for the IE6 users are pretty low Lewis Rothkopf. Thank you so much for being here. As Lewis is the president of Martin DSP, martin.ai is the place where you can find him. I will post a show notes. Thank you so much. It’s been 

Lewis:  I really enjoyed this. Thanks for having me on. 

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Pros at Subscriptions with Rob Holthause

Brent speaks with Rob Holthause from Subscribe Pro. Rob focuses on helping businesses improve their efficiency and grow their revenue while building a loyal customer base. Rob is a native of Maryland and is proud to call Baltimore home. When not educating customers about subscription marketing and Subscribe Pro’s products, Rob can be found hiking and playing with his Chocolate Lab mix, Atlas. He teaches music lessons on the weekends and plays bass with the popular Baltimore-based reggae group, Can’t Hang.

Subscribe Pro is a subscription commerce solution that enables brands to offer auto-ship, subscribe-and-save, monthly box, and recurring billing programs on the Magento and Salesforce Commerce Cloud e-commerce platforms. They provide a thorough interface for customer service personnel to manage auto-ship or auto-replenishment programs and allow customers to modify subscriptions easily.

The Future of Demand Generation in Ecommerce with Tyler Kemp

Are you tired of the monotonous sales outreach that never seems to get traction? Do you need to contact thousands of prospects for your sales team? Need appointments booked appointments at scale?

We interview Tyler Kemp with LeadRoll and talk about Qualified Sales Appointments For High-Ticket Service Providers and SaaS Startups LeadRoll delivers unlimited sales bandwidth, quick turnarounds, and unbeatable service, helping your closers flood their calendars with qualified leads.

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