Podcasts about clv

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Play Episode Listen Later Jan 14, 2025 135:39

Rob Pizzola and the team from The Hammer Betting Network dive deep into the latest news and drama making waves on Gambling Twitter. From controversial takes to unexpected betting strategies, we're breaking down all the must-know moments from the week. Today's show reacts the scientific evidence that disproves CLV mattering, Rob's feelings of being personally attacked and so much more.

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0079 - Stop Wasting Money, Focus on Your Most Profitable Customers ft Peter Fader

Why Lead?

Play Episode Listen Later Jan 2, 2025 60:35 Transcription Available

Kick off the new year with a fresh perspective on your business strategy! In this episode, Ben Owden chats with Dr. Peter Fader, Wharton professor and co-founder of a predictive analytics firm acquired by Nike. Peter is also the author of Customer Centricity and The Customer Centricity Playbook, and he's on a mission to debunk the myth that “all customers are created equal.” Discover why focusing on your best customers—and even paying more to acquire them—can drive sustainable growth, while treating every customer the same can derail your bottom line. Peter explains the power of customer lifetime value (CLV), sheds light on how to measure it without drowning in data, and shows how a “quality over quantity” approach to customer acquisition can transform your organization. Whether you're planning this year's strategic initiatives or seeking a deeper understanding of customer behavior, this insightful conversation will help you see why the right customers—not all customers—deserve your full attention.Read Peter's Book on Customer CentricityGet in Intouch with Peter FaderImportant Links*Join Thrive in the Middle Today!*Book WhyLead to Train Your Teams*Explore Our ServicesSocial Media*Ben Owden's LinkedIn*Ben Owden's Twitter

The Changing Landscape of Measurement and Attribution with Gretchen Hoffman and Mark Erwich

The Healthtech Marketing Podcast presented by HIMSS and healthlaunchpad

Play Episode Listen Later Oct 15, 2024 39:22

In this episode of The HealthTech Marketing Show, we go deep on marketing measurement and attribution with guests Gretchen Hoffman, B2B SaaS Marketing Leader, and Mark Erwich, Chief Strategy Officer for Health Launchpad. As healthcare marketers face increasing pressure to prove the value of their efforts, Adam, Mark and Gretchen discuss the shift from traditional lead-based metrics to a more account-based, opportunity-driven approach. They also explore how data analytics and AI are reshaping the landscape. Key Topics: [5:15]How marketing measurement has shifted dramatically due to AI and advanced data analytics, changing how marketers track and optimize demand generation. [11:04] Aligning Sales and Marketing through ABM [13:58] Practical advice on implementing ABM. How tools like Demandbase and 6sense help marketers analyze the full buyer journey and optimize account engagement. [23:16] The limitations of traditional attribution models and how healthcare marketers can effectively measure marketing activities' impact, especially in long sales cycles. [31:10] How to report the impact of marketing to the C-suite, including focusing on pipeline velocity, conversion rates, and customer lifetime value (CLV). [36:24] Actionable advice on adopting AI, ABM, and better reporting strategies. If you found this episode valuable, please share it with others in your network who might benefit from it!

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48: Matthew Mullaney: Florence, Italy

The Last Trip

Play Episode Listen Later Oct 10, 2024 34:12

Matthew Mullaney was only 21 when he left Massachusetts to study abroad in Italy. But just a few weeks after his arrival, on January 31st 2003, Matthew left an Irish pub and disappeared without a trace. His disappearance triggered an international search across Europe, with several unconfirmed sightings reported until around 2006. After that, the trail went cold. Many theories have emerged about what might have happened to Matthew, but as of today, he remains missing. His case continues to be one of the most mysterious disappearances involving Americans abroad. Follow us on IG: https://www.instagram.com/thelasttripcrimepod/ And join our Patreon: https://www.patreon.com/TheLastTripPodcast Theme Music by Roger Allen Dexter Sources: https://www.fbi.gov/wanted/kidnap/matthew-alan-mullaney https://hollyhockcreative.com/matthew-mullaney/ https://int-missing.fandom.com/wiki/Matthew_Mullaney https://charleyproject.org/case/matthew-alan-mullaney https://thesuitcasedetective.com/2020/12/08/missing-person-matthew-alan-mullaney/ https://group.irishecho.com/2011/02/mass-familys-search-for-son-still-futile-2/ https://web.archive.org/web/20041029031511/http://www.chilhavisto.rai.it/Clv/lettere/M/MullaneyMatthew.htm https://www.masslive.com/news/2011/12/massachusetts_mother_renews_pl.html https://www.irishtimes.com/news/boston-mother-issues-appeal-as-son-missing-since-2003-spotted-in-ireland-1.16052 https://medium.com/of-misdeeds-and-mysteries/when-traveling-abroad-goes-wrong-3edc6056e62c https://www.lanazione.it/firenze/cronaca/matthew-mullaney-scomparso-ef7171dc https://www.irishtimes.com/news/parents-believe-son-is-in-ireland-1.1209402 https://www.lonelyplanet.com/articles/things-to-know-before-traveling-to-florence

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MoEngage: Unify Customer Data and Drive Engagement Across Web and Mobile App Channels

MarTech Interviews

Play Episode Listen Later Oct 7, 2024

In a rapidly evolving digital world, businesses are constantly challenged to meet customer expectations. As channels multiply and data sources proliferate, many brands struggle with fragmented customer data, resulting in disjointed, inefficient communication strategies. This can lead to poor customer experiences (CX), decreased retention, and lower lifetime value (CLV). MoEngage MoEngage transforms customer engagement by …

122. Resonance In Marketing Masterclass Part 3: Building Unshakable Brand Loyalty Through Personalization, Emotional Connections, & Communities

iDigress with Troy Sandidge

Play Episode Listen Later Oct 3, 2024 23:29

In the final part of our Resonance in Marketing Masterclass series, we explore the key strategies that help brands create unshakable brand loyalty. This episode breaks down how personalization, emotional connections, and strong communities are the cornerstones of marketing success in today's world. We'll explore:• How personalization creates deeper, more meaningful relationships with your customers.• The role of emotional engagement in building long-lasting loyalty and advocacy.• Why fostering and nurturing communities around your brand is the ultimate way to cultivate trust and drive growth.Through real-world examples, actionable insights, and practical takeaways, this episode is a must-listen for brands looking to build loyalty that stands the test of time. Whether you're a seasoned marketer or just starting out, you'll discover powerful strategies to connect with your audience on a deeper level and turn customers into lifelong advocates. Previous Episodes In This Masterclass Series:• Listen To Resonance In Marketing Masterclass Part 1• Listen To Resonance In Marketing Masterclass Part 2 Beyond The Episode Gems:• Grow Your Business Faster Using HubSpot's CRM Platform• Use The Same Recording Platform I Use For My Podcast, Try Riverside.fm For Free• Buy Troy's Book, Strategize Up That Is Referenced In This Episode: StrategizeUpBook.com• Discover All Podcasts On The HubSpot Podcast Network#####Support The Podcast & Connect With Troy: • Rate & Review iDigress: iDigress.fm/Reviews• Follow Troy's LinkedIn @FindTroy• Need Growth Strategy, A Keynote Speaker, Or Want To Sponsor The Podcast? Go To FindTroy.com• Follow Troy's Instagram @FindTroy• Subscribe to Troy's YouTube Channel

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121. Resonance In Marketing Masterclass Part 2: Leveraging Psychology and Storytelling To Emotionally Supercharge Your Marketing

iDigress with Troy Sandidge

Play Episode Listen Later Oct 2, 2024 19:59

In today's hyper-competitive landscape, it's not about how loud you are—it's about how deeply you resonate.In this episode, we explore building meaningful connections through relationship-driven marketing, focusing on:• Emotional connection > Grabbing attention.• Why trust, loyalty, and community advocacy matter more than one-time conversions.• The role of storytelling in creating authentic, long-lasting connections with your audience.• Empathy-driven marketing: understanding your customers' needs and emotions to foster brand loyalty.• Tapping into the power of personalized experiences to resonate on a deeper level.• How niche marketing and community-building create stronger advocacy than broad messaging.• How to evoke emotion and create lasting memories to resonate deeply.• Relationship-driven marketing tactics you can apply across social media, content, email, and more to engage meaningfully. Beyond The Episode Gems:• Grow Your Business Faster Using HubSpot's CRM Platform• Use The Same Recording Platform I Use For My Podcast, Try Riverside.fm For Free• Buy Troy's Book, Strategize Up That Is Referenced In This Episode: StrategizeUpBook.com• Discover All Podcasts On The HubSpot Podcast Network#####Support The Podcast & Connect With Troy: • Rate & Review iDigress: iDigress.fm/Reviews• Follow Troy's LinkedIn @FindTroy• Need Growth Strategy, A Keynote Speaker, Or Want To Sponsor The Podcast? Go To FindTroy.com• Follow Troy's Instagram @FindTroy• Subscribe to Troy's YouTube Channel

relationships community trust culture business apple social marketing sales psychology entrepreneurship emotional emotions storytelling engagement attention advocates product memory empathy branding sustainability narrative agency connections masterclass perception leveraging revenue loyalty buyers loud logic roadmap tapping digital marketing profits sociology exposure marketing strategies customer experience emotionally content marketing retention elevators keynote speakers positioning social media marketing vertical profitability hubspot lead generation community building conversions business podcasts supercharge cx customer success resonance sales funnels customer journey smb horizontal grabbing sql scalability ugc ltv gtm resonate marketing podcast lead gen market share consumer behavior brand loyalty brand experience marketing leaders make some noise clv human psychology growth podcast consumer psychology marketing masterclass limbic system mql market demand neocortex hubspot podcast network troy sandidge try riverside strategy hacker

120. Resonance In Marketing Masterclass Part 1: Marketing Is NOT About Being The Loudest But Resonating Deeper!

iDigress with Troy Sandidge

Play Episode Listen Later Oct 2, 2024 16:09

In a world of endless noise, the brands that stand out are the ones that resonate, not the ones that shout.In this episode, we break down how resonance plays in marketing along with:• Resonance vs Volume in marketing.• Emotional connection > Simply Exposure.• The Psychology of Resonance: tapping into customer emotions, needs, and values.• Appealing to Emotions and Creating Memories (Limbic System) > Appealing to Logic (Neocortex)• LTV > One-Time Conversions.• How to create trust currency, brand loyalty, and community advocacy.• The importance of relationship-driven marketing and communication tactics.• How to apply this to social media, content, email, copy, and other media on various platforms. Beyond The Episode Gems:• Grow Your Business Faster Using HubSpot's CRM Platform• Use The Same Recording Platform I Use For My Podcast, Try Riverside.fm For Free• Buy Troy's Book, Strategize Up That Is Referenced In This Episode: StrategizeUpBook.com• Discover All Podcasts On The HubSpot Podcast Network#####Support The Podcast & Connect With Troy: • Rate & Review iDigress: iDigress.fm/Reviews• Follow Troy's LinkedIn @FindTroy• Get Strategy Solutions & Services: GrowWithTroy.com• Follow Troy's Instagram @FindTroy• Subscribe to Troy's YouTube Channel

relationships community trust culture business apple social marketing sales psychology entrepreneurship emotions storytelling engagement attention advocates product memory branding sustainability narrative agency connections masterclass perception revenue loyalty deeper buyers loud logic roadmap digital marketing profits sociology exposure marketing strategies customer experience content marketing retention elevators positioning social media marketing vertical profitability hubspot lead generation community building conversions business podcasts cx customer success resonance sales funnels customer journey smb horizontal sql scalability ugc ltv gtm resonate marketing podcast lead gen market share consumer behavior loudest brand loyalty brand experience marketing leaders make some noise resonating clv human psychology growth podcast consumer psychology marketing masterclass limbic system mql market demand neocortex hubspot podcast network troy sandidge try riverside strategy hacker

What I Learned Building A 7-Figure Digital Writing Course

Coffee With Cole

Play Episode Listen Later Sep 16, 2024 29:28

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Le Club de C'est pas du Vent - 11 septembre 2024

C'est pas du vent

Play Episode Listen Later Sep 11, 2024 48:30

Bienvenue dans notre rendez-vous hebdomadaire : le Club de C'est pas du vent. Des journalistes spécialistes de l'environnement, de RFI et d'ailleurs, reviennent sur les sujets environnementaux qui les ont marqués et partagent les coulisses de leur travail. L'occasion aussi de commenter les reportages produits par les vidéastes du réseau ePOP et les actions des Clubs RFI. Dans le club cette semaine : Camille Sarazin de entR reviendra sur les JO qui viennent de s'achever : comment on peut repenser ce type d'événements pour diminuer leur empreinte carbone. Oudom Heng du service khmer sur les mobilisations de la diaspora cambodgienne à travers le monde, c'est le projet du triangle de développement CLV pour Cambodge Laos Viêtnam. Simon Rozé, du service environnement de RFI : les émissions de méthane (un puissant gaz à effet de serre) n'ont jamais été aussi élevées et entraînent ces inondations. Igor Strauss du service environnement de RFI nous parlera des inondations liées au changement climatique dans les villes africaines.- La chronique ePOP/ (RFI Planète Radio/IRD) de Caroline Filliette avec Hadama Diakité du Mali pour son film L'or à tout prix.- La chronique culture de Caroline Filliette sur la biographie Rachel Carson, lanceuse d'alerte de Sylvie Dodeller, le Printemps Silencieux de Rachel Carson réédité chez Wildproject et les Rencontres de la photographie d'Arlesqui tiennent jusqu'au 29 septembre.

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Unleashing Organic Growth

Building The Billion Dollar Business

Play Episode Listen Later Sep 10, 2024 11:29

In this episode, Ray Sclafani discusses the essential truths that financial advisory firms must embrace for organic growth. He focuses on client acquisition costs and the lifetime value of a client, emphasizing the importance of understanding the lifetime value of a client (CLV) and its impact on resource allocation, marketing strategies, and client retention. Ray provides statistics and insights on CLV and highlights the need for efficient and effective spending on client acquisition. He also explores the role of client lifetime value in decision-making, marketing plans, and enhancing client experiences. The episode concludes with coaching questions for further exploration.Key TakeawaysFinancial advisory firms should focus on organic growth and measure success through net new assets added from existing clients and new client relationships.Understanding the lifetime value of a client (CLV) helps make informed decisions about resource allocation, marketing strategies, and client retention.Client retention is significantly less costly than acquiring new clients, and focusing on high-value clients can enhance firm profitability.Measuring client satisfaction scores and retention costs is crucial for improving client experiences, increasing referrals, and improving retention rates.Efficient and effective spending on client acquisition is essential for organic growth, and future investments in marketing and technology are crucial for sustaining and amplifying organic growth.For more information click here to visit The ClientWise Blog.Find Ray and the ClientWise Team on the ClientWise website or LinkedIn | Twitter | Instagram | Facebook | YouTubeTo join one of the largest digital communities of financial advisors, visit exchange.clientwise.com.

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ដំណើរទស្សនកិច្ចទិសឦសានដោយឥតគិតថ្លៃ ចាប់ផ្តើមថ្ងៃទី៧កញ្ញា

Play Episode Listen Later Sep 4, 2024 4:38

ដំណើរទស្សនកិច្ចទិសឦសាន ដោយឥតគិតថ្លៃ ដែលរៀបចំដោយរាជរដ្ឋាភិបាលកម្ពុជា នឹងចាប់ផ្តើមនៅថ្ងៃសៅរ៍ ថ្ងៃទី៧ ខែកញ្ញា ចុងសប្តាហ៍។ កម្មវិធីទៅលេងខេត្តភាគឦសានជាប់ព្រំដែនវៀតណាម និងឡាវ ក្នុងកិច្ចសហប្រតិបត្តិការអភិវឌ្ឍន៍តំបន់ត្រីកោណ CLV នេះ ដើម្បីផ្តល់ឱកាសដល់ប្រជាពលរដ្ឋខ្មែរ បានទៅឃើញដោយផ្ទាល់នូវការអភិវឌ្ឍជាក់ស្តែង នៅតាមតំបន់ព្រំដែន ការកសាងហេដ្ឋរចនាសម្ព័ន្ធផ្លូវក្រវាត់ព្រំដែន និងការអភិវឌ្ឍជារួមរបស់ប្រជាពលរដ្ឋ ក្នុងភូមិភាគឦសាន។

មនុស្សយ៉ាងហោចណាស់៣១នាក់ត្រូវចាប់ខ្លួន ពាក់ព័ន្ធគម្រោងបាតុកម្ម នាថ្ងៃទី ១៨សីហា

Play Episode Listen Later Aug 19, 2024 6:51

យ៉ាងហោចណាស់ មានមនុស្ស ៣១នាក់ ដែលមានស្ត្រី ២នាក់ ត្រូវបានចាប់ខ្លួន ពីបទប៉ុនប៉ង់ធ្វើកុបកម្ម ផ្តួលរំលំរាជរដ្ឋាភិបាល នាថ្ងៃអាទិត្យ ទី១៨សីហាម្សិលមិញ។ នេះបើតាមលោក ទូច សុខៈ អ្នកនាំពាក្យរងក្រសួងមហាផ្ទៃ។ យុវជនខ្មែរទាំង ៣១នាក់នោះ បានចូលរួមក្នុងផែនការកុបកម្មរបស់ក្រុមប្រឆាំងជ្រុលនិយម ដែលបានញុះញង់ពីក្រៅប្រទេស ឱ្យធ្វើបាតុកម្ម កាលពីថ្ងៃអាទិត្យ ទី១៨ ខែសីហា ប្រឆាំងនឹងគម្រោងអភិវឌ្ឍន៍តំបន់ត្រីកោណ កម្ពុជា ឡាវ និងវៀតណាម CLV។

រដ្ឋាភិបាលកម្ពុជា បន្តព្រមានអនុវត្តច្បាប់លើក្រុមអ្នកប្រឆាំងតវ៉ានឹងកិច្ចសហប្រតិបត្តិកា

Play Episode Listen Later Aug 16, 2024 7:37

ក្នុងពិធីសំណេះសំណាលជាមួយអាចារ្យ អាចារិនី កាលពីព្រឹកថ្ងៃទី១៥ ខែសីហា ឆ្នាំ២០២៤ ប្រមុខរាជរដ្ឋាភិបាលកម្ពុជា លោក ហ៊ុន ម៉ាណែត បានបន្តប្រកាសព្រមានអនុវត្តច្បាប់ ចំពោះក្រុមអ្នកតវ៉ាប្រឆាំង ដែលលោកនាយករដ្ឋមន្ត្រី ហៅថា ជាក្រុមចលនាខុសច្បាប់ ដែលយកបញ្ហាកិច្ចសហប្រតិបត្តិការអភិវឌ្ឍន៍តំបន់ត្រីកោណ កម្ពុជា ឡាវ និងវៀតណាម CLV បង្កឲ្យមានចលាចលដល់សង្គម និងប៉ះពាល់ដល់ប្រយោជន៍ជាតិ។

បាតុកម្មប្រឆាំងនឹងគម្រោងត្រីកោណអភិវឌ្ឍន៍កម្ពុជា ឡាវ និងវៀតណាម នៅទីក្រុងមែលប៊ន

Play Episode Listen Later Aug 12, 2024 9:55

កាលពីថ្ងៃអាទិត្យ ទី១១ ខែសីហា ឆ្នាំ ២០២៤ សមាគមន៍ខ្មែរសហការជាមួយអង្គការមួយចំនួនក្នុងប្រទេសអូស្រ្តាលី ធ្វើបាតុកម្មប្រឆាំងនឹងគម្រោងត្រីកោណអភិវឌ្ឍន៍កម្ពុជា ឡាវ និងវៀតណាម ដែលហៅកាត់ជាភាសាអង់គ្លេសថា CLV។ ការប្រមូលផ្តុំគ្នាធ្វើឡើងនៅមុខសាលាក្រុងព្រីងវែល និងបន្តដើរក្បួនដង្ហែទៅកាន់តំបន់ផ្សារព្រីងវែល។

យ៉ាងហោចណាស់ មនុស្ស ៣នាក់ ត្រូវបានចាប់ខ្លួន ដោយសារតែចោទរដ្ឋាភិបាលកម្ពុជាថា កាត់ទឹកដី ៤ខេត្

Play Episode Listen Later Jul 24, 2024 5:34

កាលពីរសៀលថ្ងៃទី២៣ ខែកក្កដា លោក ហ៊ុន សែន ប្រធានព្រឹទ្ធសភា និងជាប្រធានគណបក្សប្រជាជនកម្ពុជា បានថ្លែងសារពិសេសជូនជនរួមជាតិ ទាក់ទិនទៅនឹងក្របខ័ណ្ឌកិច្ចសហប្រតិបត្តិការអភិវឌ្ឍន៍តំបន់ត្រីកោណ កម្ពុជា-ឡាវ-វៀតណាម CLV។

eCom Pulse - Your Heartbeat to the World of E-commerce.

Episode 285: Valentin Radu, CEO of OmniConvert: The OBSESSION You Can't Afford to Get Wrong

Sales Leadership Podcast

Play Episode Listen Later Jul 3, 2024 60:23

Valentin Radu is the CEO of OmniConvert. Valentin and his team help fuel growth of organizations in arguably the most important way: Increasing and MAXIMIZING customer lifetime value. Valentin and his team offer a number of ways to not just keep the customers an organization lands…but to optimize the lifetime value for every customer a team wins. Today he joins us to share how elite organizations have intentional, predictable success in increasing Customer Lifetime Value and how leaders can help make every sale you make more meaningful in an episode you'll be able to utilize immediately. You can connect with Valentin on LinkedIn here (https://www.linkedin.com/in/valentinradu/). You can get Radu's Book, the CLV Revolution, here (https://theclvrevolution.com/). You can learn more about OmniConvert here (https://www.omniconvert.com/). For video excerpts of this and other episodes of the Sales Leadership Podcast, check out Sales Leadership United Here (https://www.patreon.com/SalesLeadershipUnited).

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83. Mastering CLV for Profitability with Valentin Radu

Play Episode Listen Later Jul 3, 2024 41:18

https://youtu.be/MvT1zBzmFHwValentin Radu, the founder of OmniConvert, shares his expertise on how brands and retailers can increase their Customer Lifetime Value, Conversion Rates and profitability.Valentin shares his journey from struggling with profitability in his early ventures to discovering the crucial role of CLV in business success. We discusses the direct connection between lifetime value and profitability, emphasizing the importance of measuring and improving customer retention. Valentin also highlights key methodologies and actionable steps for businesses to optimize their CLV, such as segmenting customers, gathering feedback, and experimenting with new strategies.Listeners will gain a deeper understanding of the importance of customer-centric approaches in e-commerce, the challenges companies face in shifting their focus from acquisition to retention, and practical advice for improving customer value and driving sustainable growth.I'm really excited to bring you this conversation with valentin, I'm sure you'll learn a lot from him and that this conversation will be both engaging and informative.Website: https://www.vimmi.netEmail us: info@vimmi.netPodcast website: https://vimmi.net/ecom-pulse-podcast/Talk to us on Social:LinkedIn Vimmi: https://il.linkedin.com/company/vimmiLinkedIn Eitan Koter: https://www.linkedin.com/in/eitankoter/YouTube: https://www.youtube.com/@VimmiCommunicationsGuest: Valentin Radu, founder and CEO of OmniConvert.LinkedIn: https://www.linkedin.com/in/valentinradu/Omniconvert - https://www.omniconvert.com/The CLV revolution book - https://www.amazon.com/CLV-Revolution-Transform-Ecommerce-Optimization-ebook/dp/B0CJC7FKC5Takeaways:Customer lifetime value (CLV) is directly connected to profitability, as being profitable for each customer is essential for overall profitability.Customer retention is crucial and can be improved by fulfilling promises, selling valuable products, and providing an outstanding customer experience.Customer value optimization (CVO) is a conscious process that focuses on increasing CLV through lead indicators and experimentation.Lead indicators, such as the number of experiments per month and the number of campaigns, help prioritize actions to improve CLV.Understanding customer needs and focusing on solving their problems is key to successful sales and business growth.Chapters:00:00 Introduction and Background02:37 The Connection Between CLV and Profitability10:44 The Three Pillars of Customer Retention25:18 The Importance of Lead Indicators in Driving Growth32:13 Career Highlights and Lessons Learned36:44 The Power of Understanding Customer Needs in Sales

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Drive Sales and Marketing Success with AI and Academic Theory

Cornell Keynotes

Play Episode Listen Later Jun 18, 2024 43:42

As co-founder of Eisengard AI, Clarence Lee spends his workdays examining how businesses can leverage cutting-edge artificial intelligence (AI) technology to improve their workflows. The use cases for marketing and sales are abundant — from copywriting, A/B testing and customer relationship management to pipeline operations, pitching and cold call strategy. Lee, a former professor at Cornell's SC Johnson College of Business, shares how companies can apply academic theory to create AI business frameworks for those routine lead- and revenue-generating practices in this episode of the Cornell Keynotes podcast from eCornell.In conversation with host Chris Wofford, Lee explores:The importance of prioritizing customer and stakeholder outcomesAI applications for customer lifetime value and customer-based corporate valuationHow AI can help workers map their daysTime freedom gained from AIThe future of AI agents and possibilities of AI org chartsDifferences between smart AI and wise AIPersonalized AI that knows youSales and marketing pain points that can be addressed with AIOpportunities for AI to guide corporate leaders as external consulting firms doRetrieval-Augmented Generation (RAG) systemsMental modeling of what's important — and what's not — in accomplishing work tasksHow AI frameworks could be used for eCornell learnersDiscover the latest best practices for AI in eCornell certificate programs:Designing and Building AI SolutionsGenerative AI for ProductivityAI StrategyAI for Digital TransformationApplied Machine Learning and AIAdditionally, Clarence Lee is an author of five marketing certificate programs:Marketing AIDigital Marketing 360Growth MarketingIntegrated Marketing 360Digital MarketingLearn more about Lee on his website and get the latest updates from his company at eisengard.ai.Books and authors mentioned in this episode:“Principles” by Ray Dalio“How Brands Grow” by Byron Sharp“Tribe of Mentors,” “Tools of Titans,” and “The 4-Hour Workweek” by Tim FerrissDid you enjoy this episode of the Cornell Keynotes podcast? Watch the Keynote. Follow eCornell on Facebook, Instagram, LinkedIn, TikTok, and X.

The Lifetime Value of Your Customers

Profit Cleaners: Grow Your Cleaning Company and Redefine Profit

Play Episode Listen Later Jun 13, 2024 24:47

As a cleaning business owner, it's easy to get caught up in thinking about the success of your company in simple terms – like how many customers you have.But there's another number all of us should be looking at:The lifetime value of each and every customer.In this latest episode of the Profit Cleaners podcast, Brandon Condrey and Brandon Schoen discuss the crucial concept of customer lifetime value (CLV) in the cleaning industry. They explain how understanding CLV can help cleaning businesses grow sustainably by keeping you focused on long-term customer satisfaction. You'll also hear them break down how to calculate the CLV for your business and share practical strategies for increasing it, such as offering extra services and providing excellent customer service. By prioritizing customer satisfaction, businesses can turn one-time clients into loyal advocates who keep coming back – for years.Ready to unlock the full potential of your cleaning business? Tune in now!Also be sure to check out helpful resources on the Profit Cleaners website to further improve your business's strategies!Highlights: (01:15) The lifetime value of customers in the cleaning business, emphasizing its importance in business growth and success.(02:23) The referral policies and their impact on customer retention and acquisition.(03:46) Illustration of lifetime value through examples of long-term customers' spending over several years.(06:14:) The significance of customer lifetime value and its implications for business growth and marketing strategies.(08:18) The aggregate lifetime value and spending of the top 100 customers, highlighting the potential for revenue generation.(10:10) Strategies for increasing customer lifetime value, including raising average purchase value, frequency, and enhancing customer experience.(13:48) The attainability of significant revenue growth through customer retention and acquisition.(16:34) Importance of customer experience in fostering long-term relationships and customer satisfaction.(18:33) The leveraging existing customers for referrals and future business growth.(20:53) Maintaining customer relationships and fostering customer loyalty through exceptional service and experience.(22:41) Prioritize customer experience and growth mindset over perfection in service delivery.Links/Resources Mentioned:Profit Cleaners Website MasterClass

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Holland & Barrett CTO On AI, Data & Omnichannel Transformation In Health Retail | Shoptalk Europe

Omni Talk

Play Episode Listen Later Jun 5, 2024 14:56

In this exclusive interview recorded live from the Walmart Commerce Technologies Studio at Shoptalk Europe. Sathya Nandakumar, CTO at Holland & Barrett, shares insights on the company's digital transformation journey and the role of AI in the health and wellness retail sector. Holland & Barrett, a leading retailer of vitamins, supplements, and healthy food, is focusing on leveraging technology to enhance personalization and to improve its customer experiences across its omnichannel ecosystem. Nandakumar discusses the importance of a comprehensive AI strategy, highlighting the potential applications of generative AI in search, content creation, and personalization. She also emphasizes the significance of data as the foundation for machine learning, customer insights, and CLV optimization. Discover how Holland & Barrett is navigating the digital landscape, driving omnichannel excellence, and empowering store colleagues to deliver exceptional customer experiences in this engaging conversation.

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The Case For Customer Lifetime Value - Why Is This So Hard? | Daniel McCarthy | CMO Confidential |

CMO Confidential

Play Episode Listen Later Apr 15, 2024 40:47

A CMO Confidential Interview with Dr. Daniel McCarthy, Assistant Professor of Marketing at Emory's Goizueta Business School. Dan discusses how marketing has recently taken its knocks, why he created a CLTV class, how companies can start developing their own models, and how customer math can be used to increase marketing accountability. Key topics include: why it is challenging to agree on key modeling variables like acquisition cost; how CLTV can bridge the translation gap between marketers and finance; and why business schools are slow to evolve. Tune in to hear Warby Parker and Wayfair case studies. #customerlifetimevalue #marketing #marketingdata 00:00 Welcome to CMO Confidential: Inside the World of Chief Marketing Officers00:40 Introducing Dr. Dan McCarthy: The Genius Behind Customer Lifetime Value01:38 The Marketing Landscape: Challenges and Changes in the Digital Age03:46 Deep Dive into Customer Lifetime Value (CLV) with Dr. McCarthy06:20 The Practicalities of CLV: From Theory to Application12:20 The Journey of Creating a CLV Course: Inspiration and Impact14:10 The Slow Evolution of Business School Curriculums in the Digital Era18:45 CLV in Practice: Warby Parker Case Study24:56 The Importance of Language and Disclosure in Marketing27:44 Advice for Marketers: Embracing Financial Acumen30:22 Compensation and Accountability in Marketing Departments36:58 Dan McCarthy's Personal Anecdotes and Final ThoughtsLinkedin: CMOConfidentialSpotify: https://open.spotify.com/show/1MzXYx0wRB3thgZitlfJoS?si=406b1b98eca6470fApple Podcast: https://podcasts.apple.com/us/podcast/cmo-confidential/id1668226567See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

EP318 - Temu Deep Dive with Earnest Analytics

The Jason & Scot Show - E-Commerce And Retail News

Play Episode Listen Later Mar 15, 2024 42:45

EP318 - Temu Deep Dive with Earnest Analytics Episode Summary: In this episode, Jason "Retailgeek" Goldberg and Scot Wingo dive deep Temu, the online marketplace operated by the Chinese e-commerce company PDD Holdings, that has become the fastest growing retailer in history. Joining us on the episode is Michael Maloof is the Head of Marketing for Earnest Analytics. Earnest works with world-class data partners to acquires, anonymize, and productize insight about the entire U.S. Economy. They have posted numerous insights about Temu in the US this year: Feb 28: Temu's 2024 Super Bowl ad blitz failed to accelerate growth March 5: Temu is growing fastest among high income earners March 12: Almost half of Wish, AliExpress customers shop at Temu In this episode we cover who Temu is, how big they have become, who their customers are and what retailers they are likely impacting, their go to market strategy (and especially their marketing spend), the controversy around their use of the Global Postal Treaty, and some of their potential risks. We also explore where they could go next. If you're in the commerce space, you'll want to make sure you are up to speed on Temu. Don't forget to like our facebook page, and if you enjoyed this episode please write us a review on itunes. Episode 318 of the Jason & Scot show was recorded on Wednesday, March 13th, 2024. http://jasonandscot.com Join your hosts Jason "Retailgeek" Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Co-Founder of ChannelAdvisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing. Transcript Jason: [0:23] Welcome to the Jason and Scott show. This is episode 318 being recorded on Wednesday, March 13th, 2024. I'm your host, Jason “Retailgeek” Goldberg. And as usual, I'm here with your co-host, Scott Wingo. Scot: [0:39] Hey, Jason, and welcome back, Jason and Scott show listeners. Jason, one of the topics that is coming up a lot this year, we talked a lot at a lot in our recap and our preview is Temu. By many measures, people think they're one of the fastest growing e-commerce companies in history. If you watch the Super Bowl, I think they spent $8 trillion on ads there. So we want to do a deep dive into this and cover a number of topics. We want to talk about a little background around Temu. What's it mean for U.S. retailers? And, you know, it's a Chinese company. Does it even matter? If yes, why? Because Temu isn't public and they are a Chinese company, they don't really disclose any information. So we wanted to bring on a guest that is basically a Temu expert. So we looked around and we found Michael Maloof. He is the head of marketing at Ernest Analytics. Ernest works with world-class data partners to acquire, anonymize, and productize insights about the U.S. economy. They have posted lots of articles. This is how we found Michael. I think you know him as well from the trade show circuit. So he's going to help us do this deep dive into what's going on at Temu. Welcome to the show, Michael. Michael? Michael: [1:59] Yeah, thanks so much for having me on the show. Big fan of your annual predictions and the work you guys do. So I'm head of marketing at Earnest Analytics. We're the leading credit card retail pricing and healthcare claims data provider for investors and retailers. Before Earnest, I was actually a tech and telco analyst over at Goldman. The two credit card data sets we work with now, Orion and Vela, are probably the most pertinent to my conversations about the consumer economy and certainly this conversation today about TMU. They sourced respectively from a large account aggregator, like a budgeting app, and part of a POS system in the US. And Ernest essentially takes these massive and messy data sets, normalizes structures, and then puts them onto our platform so everyone from portfolio managers to marketers can see this third-party data. For example, you'd see market share, competitive benchmarking, customer behavior, revenue predictions, and macro trends for thousands of companies, including TMU. Scot: [3:03] Awesome. Thanks, Michael. And then, so which sector did you cover when you were an analyst at Goldman Sachs? Michael: [3:08] Tech and telco. So anything in the tech space, we had a few marketplaces in there, telecom companies. It's been a while though. Ernest has been my home now for seven years. Scot: [3:20] Okay. Was this in the Anthony Noto era you were there? Michael: [3:23] This was in the vera rossi era she was my my lead where we recovered uh latin american tech and telco. Scot: [3:30] Very cool awesome yeah they did goldman did the channelizer ipo so i get to know the team there pretty well awesome well before we jump into the data which we're excited to kind of hear what you have to share here jason i know this has become a very hot topic in your world you you You spoke on it at NRF. In your day job, you're getting tons of questions about this. I think you're booked out solid with Tmoo briefings. So those people pay big money for it, and our listeners don't pay. Give us the free version of your backgrounder on Tmoo. Jason: [4:05] Yeah, thanks, Scott. And I'm sure we'll spice in some other tidbits as we go, but I'll try to give a concise bullet. it. Temu is a subsidiary of a company that used to be called Pinduoduo in China. It's now called PDD Holdings, which is infinitely easier to spell, by the way. And PDD Holdings is one of the largest e-commerce companies in China. On a market cap basis, they keep flip-flopping with Alibaba. So they're super competitive. They're way north of like $400 billion in GMV in China and had a really interesting trajectory, but a couple of years ago, they launched Tmoo into first UK and then US, now 49 other markets as a new retail concept. And so a couple of things I'd want folks to know before we dive in with Michael, first of all, the name is a loose English acronym for team up price down. So I always pronounce Tmoo as in team. [5:08] There are multiple pronunciations out there, even from Tmoo employees. So I'm not sure there's an official pronunciation. In the United States, they launched in September of 2022. So they're about 18 months old now. And most folks were not familiar with them until, a surprise, three months after launching, they bought a Super Bowl ad. So they became familiar to millions of Americans with the Shop Like a Billionaire ad that ran in the Super Bowl in 2023. And then as Scott alluded to, they bought five ads in the Super Bowl this year. So they haven't disclosed what they paid. A normal 30-second spot in the Super Bowl costs about $7 million. They ran four ads during the Super Bowl and one during the postgame. So estimates are in the kind of $20 to $30 million that they spent just on that ad. There's a bunch of estimates for how big they are in the U.S. I'm eager to hear what Michael thinks, but his old rivals at Morgan Stanley have them at about $16 billion in GMV in the U.S. But more interesting, Morgan Stanley estimates they're going to be $32 billion by 2030. So you think about a retail company that launched in September of 2022, and then in the first year, business sold $16 billion worth of stuff. That's the fastest growing retailer of all times. We do know from other sources that they get more traffic every year than Target. [6:36] They've been the most downloaded shopping apps on the Android and Apple app stores since they were born. So they've kind of owned the top of that list. And a couple other little interesting things. They are a marketplace. They have invented a model they call next generation manufacturing. So they're a marketplace. It's all three-piece sellers that are selling goods on Temu. But unlike traditional Western-based marketplaces, Temu does a lot more of the work, of listing the products and fulfilling the products for the factory. So they may, if you're a factory, they say the only thing you need is a cellular internet connection, and they provide you all the infrastructure to become a successful seller on Temu. There's somewhere between 80 and 100,000 Chinese factories that are currently sellers on the marketplace. And then one big innovation is this week, they're turning on the ability for U.S. Marketplace sellers to sell and fulfill their goods from the U.S. as well. So one interesting question about a marketplace is, are they competing for sellers with Amazon and Walmart? And now they're bringing that fight to American soil. So that, I feel like, is enough to get us started. There's certainly an interesting company that's worth following. [7:52] The way I originally discovered Earnest is through this show. One of our most popular guests, Dan McCarthy, has been on a few times talking about his his CLV methodologies. And our listeners have really enjoyed his his commentary. He has partnered with Earnest Data several times to do some really interesting analytics. And you guys at Earnest have published a couple of those as thought leadership. And so that's how I first met you. And then, Michael, I noticed you published like three articles on Temu this year. Michael: [8:22] That's right. Right. Teamio has been one of the top client asked for themes. It's definitely something we're seeing a lot in the press. We work a lot with those thought leaders as well. And that's something that we're getting a lot of questions on from everyone from business to fashion to Dan McCarthy. So glad to answer any questions there. We are kind of in a unique spot, kind of have the dashboard on the consumer economy, if you will. Basically what's going on within the last few days we can see everything from customer acquisition they have to their gross market merchandise value. Scot: [8:56] Got it let's let's start at the basics and let's pretend you know so i see Temu and you know it looks like they've got and you know one of my theories is it feels a lot like wish.com so it's really kind of cheap stuff slower ship going to what i would call value-oriented and consumers, you know, in your data, what, what kind of customer are, is buying this and then how fast do you think they are really growing? Michael: [9:22] Yeah, let me answer the second one first. Timmy's growing very quickly. Like you said, from late 2022 onwards, our data is showing double digit month to month growth, which is just explosive, right as it became a household name. In the first three months, for context, it had roughly as many weekly active users in the US as the largest fast fashion brand, Shein, and within 10 months had surpassed Shein in sales. And it had taken Shein years to get to that point. So really, a much shorter timeline. For an idea of size, about 18% of US households have shopped at TeamView since its launch. And in terms of GMV, in February, we saw about 1% of Amazon's US GMV. If you look at that, if you just break that out over the whole year, I believe in 2023, their net sales were something like over $500 billion. You're looking at around $50 billion in gross merchandise value moving through the service. But nevertheless, it's kind of not made really meaningful inroads with the largest online brands. I mean, it's still 1% in a good month. And that's actually decelerated since 2023. In fact, February of 2023 had fewer sales than January, despite the really heavy advertising spend you mentioned. [10:47] So yeah, there's some signs that the growth is kind of changing there. Mainly that retention is increasing even while this like... [11:01] New customer acquisition-based sales growth model is slowing down. TeamU's average customer lifetime value tracks higher than Walmart. And we're seeing customers becoming much more loyal. So that's an interesting kind of plus for them while sales in total are kind of hitting a lull. But yeah, let's talk about who those customers are too. It's definitely been one of the more interesting finds from our data. Despite the really low price points and that kind of gamified discount system, TeamView's US customer base skews middle to high income, actually. Sales among customers earning that over $190K, which is obviously very high up there, they're the fastest growing income bracket. And that's from May to January, May of 23 to January 24. So those sales to customers earning under $55K, like less than the median U.S. household income, that's actually the slowest growing. So today, about 44% of TeamU sales come from earners making over $130K. Not only do high-income earners account for the largest share, they're outgrowing. We just think that TeamU resonates mostly with customers with more disposable income. income, people who can afford to take a gamble on an item that might not work out. [12:27] You buy a floor mat for $5, it doesn't work. A middle high income person might just say, hey, it was $5 wasted, but the poor people don't always look at that. They're looking for a little bit more bang for their buck, can't afford that type of gamble. Yeah, it's interesting. Scot: [12:46] Cool and then you've you know you mentioned that they're you know basically their ltv is going up do you have any insight into why are they getting better at like maybe predictive analytics or recommendation engine or you know they see jason bought some gadget and then they they know he's now a gadget geek and they kind of start targeting do you have any insight into what's driving that that bump in LTV? Michael: [13:09] That's a good question. So I don't really have much insight into that. I try not to get out over my skis in terms of the data that I have available to me. We're looking at retention. We're looking for what's called a smile. Dan McCarthy talks about it all the time, which is over time as a company starts to bring back more customers that stopped stopped spending with them. And that's been pretty rare to see in e-commerce history. That's something they've managed to do. How they're doing that, I'm not totally sure. So it's definitely going to be the key for them to continue growing as new customer growth slows down, though. Scot: [13:52] Yeah. Jason, do you know? Jason: [13:54] Yeah. Well, so I don't know. I just want to point out that while Michael is wisely trying to not get over his skis, I live over my skis. So I'll tumble down the ski slope once again. One of the things I maybe should have said up front or maybe apparent to a lot of people is T-Moves marketing spend isn't just that Super Bowl ad. They're spending a fortune on digital ads and almost certainly losing a lot of money on every sale. So there's a Wall Street Journal article that came out this week that said that Temu or PDD overall spent over $2 billion with Facebook and was Facebook's largest advertiser. They're also Google's largest advertiser in the U.S. And so they're buying a lot of customers. And the the Wall Street Journal estimates that they're losing $6 on every sale. They're spending so much on customer acquisition. And so in that first year, they're doing a ton of marketing. There's a ton of people that never heard of Temu. They're acquiring those customers. They're getting that first order. [14:54] And, you know, a mini version of this is what Wish did until they ran out of money. But though it doesn't seem like there was a lot of evidence that Wish ever got traction, right? Like they didn't get those repeat orders. And what I think we're seeing And what I've seen in some of the data that Michael shared with us is that Temu very much is growing that LTV, getting repeat orders, even as the flood of digital marketing they're spending is sort of losing some efficacy as the law of large numbers kick in. And then I would also say Pinduoduo in China and now Temu in the U.S. Is very well known for their gamification. So they have lots of clever gamification mechanics on their websites, group buying, contests, gifts, one-time deals that are all like very carefully crafted to entice you to make an incremental purchase and to make an unplanned purchase. So I think all of those things appear to be working and then they hit you on social media with, you know, a huge spend, you know, right when you're, you're doom scrolling and expressing some, some purchase intent through your clicks. Scot: [16:08] Very cool. How about you, Michael, you mentioned this, this, this slowdown, which is exactly opposite of what I would have thought given the Superbowl ads. What do you, does the data show you anything there? Is it? Normal or like what what's going on. Michael: [16:23] Yeah i mean i don't know i don't know what would be normal for this company that's still up hundreds of percent a year but when i'm looking at at month over month growth which is the kind of the best way i can think to to look at it it is pretty remarkable there was some sort of a step change in august of last year where it went from growing double double digits each month to growing just single digits or down. The holidays, December actually was smaller than November in terms of their sales. And January was smaller still, makes sense. But February, also very challenged in terms of sales. I'm wondering if they're in a sort of spiral in terms of the new customer's first time kind of buying frenzy is over, or if this is a shift towards very purposely trying to get people in the door and they're just actually tapping brakes a bit on advertising spending. I'm not totally sure what this signals just yet. Scot: [17:35] Got it. Okay. Jason: [17:36] Is it safe to say that there's no clear evidence that spending $30 million million dollars on the Super Bowl had a super observable impact on their sales. Michael: [17:46] Okay. Yeah. So the Super Bowl. Let's talk about that. The million dollar question or $30 million question, I guess. The answer is probably not. There are a lot of ways to measure advertising effectiveness, as you guys know better than most. Brand awareness and net promoter score. But yeah, for a young company like this facing slowing new customer growth, I'd imagine they're looking to move the needle with each of these like big marketing events and the data just suggests that their multiple ads on February 11th had no meaningful boost in sales actually TeamU saw a noticeable deceleration in sales growth following the event actually kind of, like sales were significantly slower in the next few days. So unless they're measuring this on a much longer timeline, I don't think this investment was worth it. I think they would be better just plowing dollars into digital, wherever that is. Jason: [18:42] Yeah, it's super interesting. You know, obviously for listeners that don't know, my salary gets paid by those Super Bowl ads. I work for a big ad agency for which I'm very grateful. But the lot of controversy around our water cooler the day after the show. That was a spin that you rarely see. And in one metric, it clearly had an impact. There was a lot more discussion about Temu than any other company on social media the day after the Super Bowl. So the Super Bowl ads triggered awareness and conversation. I think they were the second behind Verizon, which had Beyonce, right? And so there was a lot of talk on social media. It was not all positive. There was a lot of discussion on social media, but people that hated the team who had the first time they saw it because it was sort of by Super Bowl standards, not a very high production animated ad. I think they made it in-house and they, you know, ran it with much greater repetition than audiences are used to. So it generated a lot of conversation that didn't necessarily translate to sales, at least that we can measure in the short term. And so that that's going to be interesting long term case study about what what these kind of, you know, splashy big reach audiences can and can't can't do. Right. Michael: [20:00] You know, I don't, again, skis and getting over them. It just seems like the outcome for them at this point should be a little further down the funnel. And I don't see how advertising spend like that will marginally get someone, persuade someone to buy a team you that wasn't already going to. It seems, yeah, it was a lot and there was no really movement in our data, either in new signups or in sales. I think there's some other research out that downloads are trending downwards or slowing down as well. We don't have that data, but I was reading elsewhere. So I think, Scott, this is maybe more to your 2024 prediction that people are realizing this is wish and slowing. and becoming less enamored or falling out of it. Jason: [20:52] No, no, no, no. Scott's predictions cannot be right. Scot: [20:55] Wait, if I hear that, you're pre-anointing that I'm right. Is that you're here in March, you're saying I was right with my prediction. Man, I'm good. Michael: [21:04] I didn't want to pick a side here, but I think people might be falling out of love with it, although it's not because it's not wish, it's because they're out wishing wish. We can talk to it a little bit. But I think people just realize Teamio is managing to disrupt Wish. And we can talk to the brands that it's disrupting. That's just one of many. It's got higher retention, bigger scale than Wish. But it does have the same limits as Wish and that this deep discount model doesn't have the big household brands that people want when they're making those everyday purchases that are slightly bigger, like the Tides and Cloroxes or the recognizable alternatives. There are just some things you don't want to replace and you don't want to gamble on. I don't think anyone wants to spend a dollar on detergent and see what happens. It's just going to be tough for them to scale at some point. I think the question we should be asking is if they've reached that point yet. I'm not sure. The sales growth slowing suggests they could have. But in the meantime, they are actually taking a wrecking ball to several other brands. So just because total sales is slowing doesn't mean the disruptive effect is slowing. Scot: [22:22] Yeah, let's go, Jason. Jason: [22:51] Because Temu is buying so many ads and driving the price on all those auctions up. So don't know if it's moving the needle on consumer impact or not, but it for sure is having an impact on their competitors, at least in that regard. Michael: [23:04] So you're saying maybe their goal is to just suck all the oxygen out of the room? Jason: [23:08] I'm saying that's potentially an unintended positive benefit. Mm-hmm. Scot: [23:15] Yeah, and you've teed us up there. Who is, is it retailers or is it more brands? Who's getting impacted by this? And kind of embedded in this question is, do you have an idea of the categories? Like if we looked at that pie of the 50 billion GMV, is it largely electronics? Is it apparel? Like what are the big wedges inside of there? Michael: [23:35] Yeah, well, so the great part about transaction data, it's really good at looking at brand disruption, or I should say retail disruption by brand. Not great at looking at the categories. You know, I don't see what an individual breakout of a credit card receipt is. I'm just seeing where people are spending. So I think that's the question I'm more equipped to answer. In terms of impact, some of the folks you think of when you think of mass market and discount retailers like Five Below and Walmart, the ones that you immediately want to ask if they're being disrupted, they seem like they'd have the most overlap. They've been pretty untouched, actually. Part of its overlap, only 19% of Walmart and Amazon's customers have even tried TeamU. And that's about the same as the total percent of US households that have tried it. substantially the whole country has made a purchase at Walmart and Amazon. So they're just not as at risk, maybe on the margins. But what we're seeing, I guess, next step up with some risk is the dollar stores. Dollar General, they share about a quarter of their customers with TeamU. And if you look at Dollar General's customers spending at TeamU, it's up over 800% year to year from January 23 to 24. Obviously, a super small base and flat. at Dollar General itself. [24:54] And then those TeamU customers who aren't, or those Dollar General customers who aren't TeamU customers, they're spending slightly up at Dollar General. It suggests that there's some impact. Again, not the biggest that we've seen. So I'd say like dollar stores kind of marginally. [25:10] This is not as supported by data, but just putting the data point together that the TeamU customers are spending less and TeamU customers are richer, you could come to the conclusion that Dollar General role is losing out on richer customers looking for deals a little bit. Maybe they're popping in for something they really don't want to spend a lot of money on, like a party, something like that. That's where the sales that they're losing is. Which actually kind of takes us to the last and biggest impact. Wish and AliExpress, as well as all those hobby lobby party supplies, like Oriental Trading. So I'll start with Wish. Their customers are just fleeing. I think there's no better way to say it. 50% less spend on Wish in January 2024 than January 2023, and over 680% increase at TeamU. That's just astounding. The Wish customer, once they try I, TeamU, they're done. It's game over. It's similar for AliExpress. And I think that what TeamU has really done early on, we need to think of them less as like an Amazon killer, and more as a brand that just came in to consolidate the existing demand for this deep discount online spending that these two, AliExpress and Wish kind of got off the ground in the US. [26:35] In terms of the hobby space, Oriental Trading, Hobby Lobby, Party City, they all experienced double-digit declines year-on-year in February among the customers who also shopped at TMU. And these brands, they're catering to occasional and discount merchandise. I think they're really going to struggle adapting to TMU. It's like I said, the person who doesn't mind throwing away $5, $10, $15 on party supplies if they don't work out. But it's a one-time thing anyway. way you know it's it's things that they're somewhat disposable items to these customers and very interchangeable got. Scot: [27:12] It i noticed you didn't mention amazon on that list is there is it there been an amazon impact or has it been. Michael: [27:18] That's great good catch pretty negligible just just like walmart they're just brands on those platforms at this point that you can't find at at these places i think when i say on the margins that's what i mean there could be hey, I need this small thing for my kitchen that I could get for $1 or get for $3. And that might be the sale they lose out on, but they're doing a better job of being one-stop shops. And I think with what we've seen, it doesn't seem like the business model is set to take on Amazon yet. Scot: [27:57] Got it. Yeah. Jason: [28:00] You know, a couple of things that come to mind. A, I think the dollar store thing is super interesting because historically dollar stores haven't sold very much online. Like, and, and, you know, usually their excuse is that, that super low price point discounted items don't work online. Right. And I, I think like in some ways I look at Temu and I say, they're actually the digital dollar store that did figure it out. Now. [28:25] It remains to be seen whether they can make money doing it in the long run. But it doesn't surprise me that those are some of the categories that are being disproportionately impacted. And I think you really hit something interesting on some of these everyday essential retailers that sell the brands that consumers are looking for and trust. [28:46] That, to me, feels like a different shopping occasion than the shopping occasion I think Timo is winning. Branding there's this whole new trend on all the social media platforms called dupes and you know people think of like knockoffs and forgeries where you you try to pretend you're a brand that you're not but dupes is a something different dupes is this is a very similar product to a name brand product but it it overtly is not the name brand product and it's a way better value and they're now these big cohorts of consumers that talk about their dupes and brag about their dupe finds and, you know, proudly make these, these dupe decisions. And it feels like those are the kind of things where, where Teemu's playing really well, where, you know, you're into, you know, crafting and you've, you know, there's some expensive machine, a cricket machine for cutting vinyl. And you say, oh man, I found a dupe on Teemu for 20 bucks, right? Like those Those feel like the kinds of occasions they're winning when you're willing to trade down for that no-name product and take a gamble versus when you know you want the Tide dishwasher soap. Michael: [29:58] I think that's a great point. They're taking advantage of the trading down phenomenon in general right now that a lot of brands are seeing, a lot of retailers are seeing. This is the perfect spot. I'll just go ahead and see if Temu has it. Maybe they will, maybe they won't. Scot: [30:15] Cool. One topic, and this is kind of a jump ball for you guys, is the, you know, I read a lot about this shipping model, and this was always Wish's kind of secret sauce is there's this, there's this like loophole in the postal code where if you send this something small, you know, it doesn't have any tariffs, number one. And then number two, there's like this really cheap postal rate, or I can't remember if China subsidizes it or it's free or we subsidize it, but there's some, there's kind of like double loopholes. There's a tariff one and a shipping one. And I've seen some noise lately about people wanting to kind of shut this down. Do you guys, either of you more expert on that than I am and have an opinion on if it's going to be sustainable or not? Jason: [30:57] I could certainly jump in there. So what you're talking about is there's this thing called the Global Postal Treaty. And it's a prearranged agreement between like 95 countries, 94 countries for how they'll deliver each other's mail. When you try to ship a letter from the U.S. to Germany, the U.S. Post Office is going to hand it to the German Post, and they need to know in advance how much the German Post is going to charge the U.S. Post Office to deliver that so that the U.S. Post Office can charge a rate in advance to you to deliver those things. So this global postal treaty is super valuable, and it makes it possible to cost effectively and, you know, with predictable rates, mail stuff all across the world. [31:41] Unfortunately, there's a couple of problems with it. There was the developed nations agreed that for less economically developed nations, they would have a preferred rate. So they would charge even less to deliver. The U.S. post office would charge less to deliver mail from a developing economy than they would from an established economy. And until recently, China was characterized as a developing economy, which is probably not accurate. And then the Postal Treaty specifies a dollar limit that it only is in effect for packages under a certain value. And so this is called the de minimis clause of the Postal Treaty. In the United States, the threshold is $800. So when Temu ships something to a consumer in the U.S. that costs under $800, they get a predetermined rate from the U.S. Post office, which is often cheaper than the rate to mail something from one part of the U.S. to the other. And Scott, per your point, there is no tariffs charged on that item and there is no import inspection on that item. So, you know, normally when we, you know, if a U.S. Retailer imports a container of goods from China, there's all kinds of inspections to make sure that the factory in China met labor standards and, you know, met environmental standards, and then they pay tariffs on all that. [33:08] The team who hands one package to the U.S. post office, they they get to bypass all that, which, you know, is, of course, controversial. No one wants to get rid of the Global Postal Treaty or even de minimis. But what they're saying is that the U.S.'s 800 hour threshold is probably way too high. Like China's threshold for reciprocation is something like forty dollars or something. So you could you could put a big dent in Temu if you just lowered the the threshold. And so there's There's, you know, noise in Congress about trying to change that limit. I would say that, you know, it is an unfair advantage in many ways, and U.S. Companies are certainly right to complain about that. [33:51] I would say that Temu is different than Wish. Wish took advantage of this cause. Temu takes advantage of it way more effectively, right? So Wish sold, you know, was a marketplace, and they had a factory sell something to an American consumer. And then it was up to the factory to get it to the American consumer. So the factory had to have their own postal account. And then they, you know, had to trigger this postal treaty. And there was no shipping confirmation. And often Wish products took a very long time to ship and a very long time to arrive. As part of this next-gen manufacturing model that Temu has, they do all that for the seller. And it uses Temu's postal account. And they expedite all of these things. Most of these goods get air freighted to the U.S. and put into the U.S. postal system. So while Wish items would have averaged three or four weeks delivery time. [34:46] Temu normally averages like five to seven days, and they almost always outperform their shipping promises. And in fact, they even have a guarantee. They give you $5 back if the package arrives late. So, you know, part of the reason that I don't think they're just purely Wish 2.0 is they actually do have a better, more reliable shipping experience than Wish. And they actually more effectively take advantage of this postal loophole than Wish ever did. Scot: [35:18] Yeah. And Wish took the proceeds of their IPO and built out some fulfillment centers. And they almost did their own version of that Amazon dragon boat or whatever that was called. Has T-Mood signaled they're going to do something like that where they have, you know, even more? Jason: [35:32] Yeah, they already have in some. So they're in 49 countries now. So they do have D.C. fulfillment centers in some of those countries. They've actually talked about opening a fulfillment center in Mexico for delivering goods in the western U.S. And so so they are talking about that. But then this other big thing is starting this week that a U.S. Seller could list their goods that, you know, the goods are already in a warehouse in the U.S. that US seller could list their goods on Temu and then deliver those goods from a US fulfillment center. So that's a potential way to get much faster delivery times for Temu. And we've already seen some badging. Temu has items with a rapid ship badge that are guaranteed for two-day delivery. So it does seem like Temu recognizes that over time, their fulfillment model is going to have to be more nuanced than just the the individual parcels uh coming one at a time but but you know that still seems like the the sort of biggest foundation of how they're delivering all these goods got. Michael: [36:36] It um the minimus though i can't imagine that much they would change would really have an impact we're seeing average ticket prices at 38 last month for for timmy like are they thinking thinking of reducing it by that much or. Jason: [36:52] So, I mean, a just talking about way over our skis, like my, my political acumen is very poor, but yeah, I don't think Congress is gonna do anything. I think like at most they'll have a, a hearing and try to look like tough guys talking about how unfair it is and how they're gonna try to protect the American businessman and the American consumer. And then when push comes to shove, they won't, they won't do anything, which is my, my cynical nature. But you're right. Right. Nobody's talking about dropping the de minimis low enough to to, you know, really trigger the bulk of these these Temu shipments. So it's it's more likely if they made a change, it would be a gesture, not like, you know, some some game changing thing. Now, you know, there's another big Chinese company out there, ByteDance, which is TikTok. And like there there is a bill going through Congress right now to ban TikTok. And so, you know, if something like that were to happen with, with a PDD or Temu, you know, that, that would of course, you know, be a, a big threat of a disruption. Scot: [37:54] Yep. And then on that example you gave, Jason, of a U.S. seller in a fulfillment center, is that Temu's fulfillment center or the seller's fulfillment center? Jason: [38:04] The seller's fulfillment center. So potentially what would be one of the ironies of this is, of course, as Amazon has expanded their fulfillment services, you could be an Amazon seller, be using FBA, and sell something on Temu and have Amazon fulfill it for you. Scot: [38:20] Yeah, Wish did something like this. What we found was the U.S. Seller struggled to get things in the price point that consumer wanted, right? It's like it's such this low quality stuff that almost has to be offshore for even to the manufacturer. Jason: [38:36] Yeah, I think you are 100 percent right there. I don't think they're going to like we don't know what the uptake is going to be on these U.S. Sellers. It's an interesting talking point, but it doesn't seem like there's going to be a bunch of U.S. Sellers that are going to likely participate in this like low price dupes demand that they have today. Now, what would be interesting, Pinduoduo, I mentioned, which is a huge, huge entity in China. Pinduoduo started with this same stuff. They started with really inexpensive marketplace goods. And as Pinduoduo got bigger and more established and won the hearts and minds of Chinese consumers, they moved up market. They started selling brand name stuff. They started selling higher quality stuff. And today they're a hybrid seller. PennDuoDuo in China sells their own goods in addition to marketplace items, which I've never seen before. Usually it always goes the other way. And so there's at least a premise that like maybe the U.S. sellers don't like add to the current assortment, but maybe the U.S. Sellers help Temu round out their assortment with some higher price point, you know, more recognizable goods for the U.S. consumer that helps them win more wallet share. Scot: [39:49] Interesting. Cool. We're running up against time. Do you guys have any other topics you want to hit before we call it a show? Michael: [39:58] No, I think it's fair. You know, I already mentioned one of your predictions. I should talk about the other one. Just to pick on Jason for a second. I don't think we'll make it to the 75% of target USC comm this year for Temu, Jason. Sorry. It's like a stretch. Scot: [40:17] Man. How do we get Michael on the show more? Like, I'm really enjoying this. This was a really good guess. Jason: [40:24] I feel like you're calling the winner of the Super Bowl in the first quarter, man. Come on. Michael: [40:27] Okay, well, I'll just put it this way. At 18% of the US households, three months into the year, it seems unlikely at their current growth that they get there. My view basically though, writing this, is that they've done a great job in the first year of attracting folks with a lot of disposable income to buy things that they likely wouldn't have bought anywhere else, like party supplies, household goods. It's maybe a different model than they they have in China. The challenge for them now, you guys both definitely identified this, that it's basically to convince people to switch everyday spending from Amazon and Walmart on those bigger items. And they don't have the assortment right now for that. And that's what you're mentioning. They need to either move up market or figure out what that assortment looks like. But that's going to be a bigger hurdle. They're reaching critical mass. They just have some decisions to make internally at this point. Jason: [41:17] Yeah. Well, in general, I feel like that is going to be a great place to leave it for this show because we have run out of our allotted time. But Michael, we really appreciated your insight. We'll certainly have you back. I know your view of the U.S. economy is useful for a whole bunch of topics that come up frequently on the show. But as always, if listeners enjoyed this episode, I hope you will jump on iTunes and leave us that five-star review. Scot: [41:46] Thanks, Michael. And this has been really good for Jason's ego. So I feel like you've knocked him down a couple of pegs. I appreciate that. And then if folks want to read more about your writing or connect with you, is LinkedIn the best place or are you more active on TikTok? Where can people find you? Yeah. Michael: [42:04] Michael Maloof on LinkedIn. I'm always posting a lot of Ernest data on there. And then also on our company blog, ErnestAnalytics.com. Go to the Insights blog and subscribe. Jason: [42:17] Yep. And I will put links to both the team new articles you guys published and your LinkedIn in the show notes. Michael: [42:23] Thank you. Jason: [42:24] Until next time, happy commercing!

The CS Playbook March Pregame: Unveiling the Core Metrics for Customer Success

The Customer Success Playbook

Play Episode Listen Later Mar 5, 2024 19:49

In the dynamic world of customer success, identifying and leveraging key performance indicators (KPIs) is crucial for driving growth and ensuring the longevity of customer relationships. The recent episode of the Customer Success Playbook podcast, featuring co-hosts Kevin Metzger and Roman Trebon, delves into this critical topic, offering valuable insights into the metrics that truly matter in customer success.Key Points & Themes:Focus on KPIs: The discussion centers on identifying the most impactful KPIs for customer success, highlighting the importance of metrics such as revenue growth, customer churn, and customer lifetime value (CLV).Revenue Growth vs. Customer Churn: While revenue growth is essential, the conversation shifts to recognize customer churn as a vital, albeit indirect, indicator of success, impacting the pace at which revenue can grow.Customer Lifetime Value (CLV): Kevin Metzger elevates CLV as the paramount metric, arguing that optimizing CLV is key to enhancing revenue and ensuring customer satisfaction over time.The Role of Feedback: The dialogue acknowledges the value of Net Promoter Scores (NPS) and customer satisfaction (CSAT) scores, not just as metrics but as tools for gathering actionable feedback to drive improvement.Simplification and Actionability: Both speakers emphasize the importance of keeping KPIs straightforward and actionable, ensuring they lead to informed decision-making and tangible outcomes.The podcast episode sheds light on the nuanced understanding of KPIs within the customer success domain. It underscores the need for a balanced approach that considers both quantitative metrics, like CLV and revenue growth, and qualitative feedback, such as NPS and CSAT scores. This blend allows businesses to not only track their performance but also to stay closely aligned with customer needs and expectations.Furthermore, the discussion about the importance of aligning metrics with business goals and the actionable nature of data points towards a strategic approach to customer success. By focusing on metrics that directly influence and reflect the company's objectives, businesses can more effectively drive growth, profitability, and customer satisfaction.This episode also highlights the evolving role of technology in analyzing and leveraging data. The mention of artificial intelligence (AI) and machine learning (ML) as tools for deepening insights into customer behavior and optimizing strategies points to a future where data-driven decision-making is increasingly sophisticated and impactful.Conclusion:The conversation between Kevin Metzger and Roman Trebon offers a comprehensive overview of the essential metrics for customer success. By focusing on key indicators like CLV, revenue growth, and customer churn, and emphasizing the importance of feedback and actionable insights, businesses can ensure their customer success strategies are both effective and aligned with overarching goals.Please Like, Comment, Share and Subscribe. You can also find the CS Playbook Podcast:YouTube - @CustomerSuccessPlaybookPodcastTwitter - @CS_PlaybookYou can find Kevin at:Metzgerbusiness.com - Kevin's person web siteKevin Metzger on Linked In.You can find Roman at:Roman Trebon on Linked In.

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Amazonians' Secret Ways to Use Metrics and Grow Sales Profitably - Todd VanderStelt - Amazon Legends - Episode #308

Amazon Legends Podcast

Play Episode Listen Later Feb 27, 2024 55:55

Welcome to this week's episode! Get ready to unlock the secrets of Amazon sales profitability with Todd VanderStelt, a former Amazonian and the Founder of MixShift. With his extensive experience at Amazon from 2010 to 2015 and subsequent ventures in the Amazon agency world, Todd brings a wealth of knowledge on leveraging metrics to grow your sales profitably. Discover how MixShift's innovative SAAS platform simplifies reporting, analytics, and Amazon data analysis, including the groundbreaking Share Center. From optimizing PPC campaigns to understanding what drives your brand's performance on Amazon, Todd shares valuable insights that can revolutionize your approach to e-commerce success. Whether you're an established Amazon seller or an aspiring entrepreneur looking to break into the market, this episode is a must-watch! Tune in to this insightful discussion and take your Amazon sales to new heights! Takeaways :Customer Order Labeling: Every customer order is labeled based on whether it's their first purchase or if they are a repeat customer. This allows for tracking customer acquisition and retention metrics effectively. Event Analysis: Events like Prime Day with deep discounts can lead to spikes in new customer acquisitions. However, it's crucial to analyze data over time to determine which events successfully convert new customers into repeat customers. Repeat Customer Measurement: By tracking repeat customers over time, sellers can measure the effectiveness of different events or strategies in converting new customers into loyal, repeat buyers. Data Segmentation and Insights: Analyzing data in cohorts and segments provides valuable insights into customer behavior and preferences, helping sellers make informed decisions. Evolution of Amazon Ecosystem: The Amazon marketplace has evolved significantly over the years, presenting sellers with new challenges and opportunities for growth. Quote of the Show: One of the metrics that I would like to see is Customer Lifetime Value. By dissecting CLV over time, separating new versus repeat customer revenue, we gain insights into which products are driving long-term success. Links :MixShift email: hello@mixshift.io Todd VanderStelt LI Page: https://www.linkedin.com/in/todd-vanderstelt-284956/ MixShift LI Page: https://www.linkedin.com/company/mixshift MixShift Website Landing Page: https://mixshift.io/out-of-the-box-amazon-reporting/ Special Offer: MixShift offers a 30-day free trial of the software with no long-term commitments for all users. For Amazon Legends listeners, reach out to hello@mixshift.io noting #AmazonLegends for a free account audit. And for Agencies & Brands, MixShift offers flexible, in-depth training programs on all things Amazon and Amazon Advertising.Want To Level Up Your Business? Register With Our SponsorsAmazon often loses inventory or overcharges fees. With Arthy, you can recover up to 30% of your lost revenue. At a monthly flat rate of only $99 with no commission fees for unlimited reimbursements, you can increase your bottom line. Their automated, Amazon-compliant process ensures hassle-free refunds.Visit https://www.getarthy.com/feature-lp/reimbursements and sign up today to get one month free and discover your recovery potential!

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Elevating E-Commerce: Valentin Radu's Blueprint for Customer Value Optimization and Future Insights

Play Episode Listen Later Feb 16, 2024 33:50 Transcription Available

Unlock the secrets of transforming your e-commerce platform into a powerhouse with insights from Valentin Radu, the mastermind from Bucharest who conquered the digital marketing world. In an intimate conversation, we unravel the fabric of Valentin's pioneering Customer Value Optimization strategy, learning how a deep dive into customer research and segmentation can lead to extraordinary leaps in lifetime value—as evidenced by a client's jaw-dropping 30% increase. As Valentin illustrates, understanding the customer journey isn't just insightful; it's a game-changer in the realm of customer retention and maximizing your advertising efforts.Embark on an enlightening exploration of the future of e-commerce with our foray into AI and NLP's groundbreaking roles. These technologies are not on the horizon; they're here, reshaping how we analyze and enhance customer experiences. We share how AI can dissect customer feedback to refine your business tactics and why mid-sized companies must embrace agility and customer focus to thrive. All the while, we underscore the importance of growth, both personal and professional, and the profound impact of shifting perspectives. Allow Valentin's journey and our rich discussion to illuminate your path to success in the dynamic world of online retail.Check out his book, CLV, here!Your Brand Amplified is proudly sponsored by Simplified. This AI-driven platform is a game-changer for design and video content. With Simplified, effortlessly transform lengthy videos into engaging, shareable clips, and streamline your workflow with an intuitive subtitle generator. For designers, explore the AI-powered image generator, create compelling presentations, and design eye-catching YouTube thumbnails with ease. We're happy you're here! Like the pod? Visit our website! Check out our sponsor PitchDB! Start your trial on Simplified!

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Podcast success formula! How to grow your show and make money podcasting

Beginner Mom Boss- Strategies to Start a Profitable Amazon Store or Etsy Shop

Play Episode Listen Later Feb 9, 2024 68:11

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Episode 139: Mr. Liimited Joins for a Discussion

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Play Episode Listen Later Feb 1, 2024 67:28

Rob Pizzola and Johnny from betstamp are joined by Mr. Liimited to discuss how to avoid being limited, origination versus top-down approach, identifying sharp markets, and much more Looking to sign up at new sportsbooks? Support Circles Off when you do! www.betstamp.app/circlesoff

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Betting College Baseball: Sports Wagering Glossary & Lingo

Betting College Baseball

Play Episode Listen Later Jan 26, 2024 43:09

The third episode of Betting College Baseball takes a deeper dive into the lingo and vernacular you will hear inside a sports book and future episodes of this podcast.For those sports betting veterans, these terms may be familiar. But if you are new to sports betting, these may be new to you. We also apply the difference in language from football and basketball wagering compared to baseball wagering.In this episode we'll explain the difference between a bad beat and a backdoor cover, the chalk vs. a dog, CLV, fades and follows along with circled games and Round Robins. After listening to this episode, you can place a bet with confidence and using the lingo that won't get you laughed out of the Sports Book.Make sure to leave a 5-star rating wherever you are listening. Please subscribe and share this podcast to spread the word around the college baseball betting nation.

548. Adam Braff, Business Analytics Diagnostic

Unleashed - How to Thrive as an Independent Professional

Play Episode Listen Later Jan 22, 2024 45:11

Show Notes: The Umbrex Business Analytics Diagnostic Guide that is discussed in this episode can be downloaded at no cost here: https://umbrex.com/resources/business-analytics-diagnostic/ In this episode of Unleashed, Will Bachman and Adam Braff discuss the creation of a data analytics diagnostic guide. Adam, a former partner at McKinsey and a consultant on data analytics, discusses the importance of data analytics in solving business problems in any company or investment firm. He explains that a business analytics diagnostic is designed for organizations with multiple people, computers, and analytics processes. The goal of this diagnostic is to determine the performance and alignment of the data science or analytics function with the overall mission of the company. He explains the size and type of company that uses this and who would monitor and manage the data analytics of a company The Diagnostic Guide Format Explained The diagnostic guides follow a format with scorecards for individual pieces of an area, typically 15 to 25 different scorecards, and within each one, objective criteria ranging from nascent to optimized. These guides are divided into categories and subcategories, such as analytics strategy, data management, advanced analytics, AI, talent, decision-making process, tools, and infrastructure. Adam explains the format of the diagnostic guide, beginning with top level categories including analytics strategy, strategic alignment, performance measurement, and future roadmap. Analytic strategy involves understanding the business objectives and problems to be solved, such as growth, customer retention, risk management, and problem-solving. Strategic alignment also involves determining the location of analytics people, whether centrally located in a Center of Excellence or distributed across different functions. Performance measurement involves tracking key performance indicators for the analytics function, such as cross-sell, revenue, pricing, and marketing ROI teams. Benchmarking this number against competitors can help determine if the company is on track and if it is underinvesting in analytics. Performance measurement also includes ROI, which is the understanding of specific goals and projects that the analytics team is working on. By tracking these metrics and reporting the total impact analytics has on the business each year, the analytics strategy part can be evaluated. A Roadmap for the Analytics Strategy Adam emphasizes the importance of having analytical people distributed throughout the business and dedicated resources for analytics initiatives. To round out the analytic strategy, it is crucial to have a roadmap of the next eight quarters, such as tackling Net Promoter Score analysis, customer satisfaction drivers, or adopting a new data management tool. This roadmap should include hiring and development strategies, cutting-edge innovation, and research, which can be revisited and changed strategies as needed. This helps ensure the analytics team is effectively working towards achieving their goals. Data Management: Warehousing, Sourcing and Integration Adam goes on to talk about the importance of warehousing, data sourcing and integration involving sourcing data from internal systems or external sources, such as customer satisfaction surveys or third-party surveys. This is crucial for asset managers who need to acquire data for investment analysis and decision-making. Automating data loading processes is also important, as it allows for efficient data flow. Business intelligence is another important aspect of data management, which involves creating interactive dashboards and alerts for all stakeholders. Data quality is a critical aspect of data management, involving conscious decisions on the quality of data. More mature businesses have higher standards for accuracy, timeliness, and completeness of data, with constant profiling and monitoring to ensure data meets these standards. Data governance encompasses coordination across different parts of the business, ensuring consistency in data definitions, appointment and training of stewards, and governing data for regulatory and compliance purposes. Advanced Analytics and AI-Driven Decision Making Adam discusses the importance of analytics in a company's operations, particularly in areas like operational analytics and revenue. He highlights the need for centralized, advanced analytics functions that focus on predictive modeling, machine learning, and AI-driven decision making. These functions should be evaluated for their maturity and effectiveness. Another area of focus is AI-driven decision making, which involves how a company uses AI to improve operations. He goes on to talk about talent management and three main areas: people, performance, and technology and how these tools can be used in this area. Training and development are crucial aspects of analytics talent management. This includes understanding skill gaps within the team, designing a curriculum to fill them, and providing continuous learning opportunities. Internal or external certifications and specializations can also be beneficial. Lastly, community engagement and collaboration are essential aspects of analytics talent management. This involves sharing knowledge with the organization, building collaboration, and engaging with external partnerships and networks. Adam explains how innovation and co-creation initiatives can help spur creativity and innovation within the analytics team. These efforts can be internal or external, pushing the envelope on innovation and ensuring the success of the business. Overall, analytics talent management is a critical aspect of a company's operations. The Decision-making Processes in a Data-driven Culture The decision making process involves three buckets: data driven culture, analytical decision making, and predictive decision making. A data-driven culture focuses on controlled testing of experiments and measuring things rather than relying solely on intuition. This includes tracking demand for analytics use cases, managing cultural change, and ensuring data accessibility and democratization. Analytical decision making starts with analytical frameworks and tools, such as customer lifetime value frameworks and CLV calculations. It also involves decision-making process integration, ensuring checks are in place before recurring functions occur to ensure data analysis is involved. Performance tracking and feedback are essential for comparing individual decisions made with data to the overall function. Adam explains how and why analytical decision making is used, and how predictive decision making involves planning out budgets for next year, understanding macroeconomic impacts, weather, and operational and financial budgets. Predictive analytics can help manage various risks, such as customer numbers, macroeconomic impacts, and weather. Predictive data is used for strategic planning questions, forecasting sales, and risk assessment. He explains how infrastructure scalability involves capacity planning and management, disaster recovery, and business continuity. Analytics diagnostic guides can help organizations prioritize their future state and decide what they want to invest in. Consulting firms should consider the bigger picture strategic choices, such as whether they are a data-driven company or if it's not important to spend time and effort on data and analytics. Companies may also want to focus on specific examples of demand in the business that they don't know about today, which can help them make better decisions. Data Analytics: Tools and Infrastructure Adam talks about the various platforms that can be used, and how choosing a point along the continuum of low maturity, intuitive, data-driven, and algorithmic can help companies determine if they want to be more analytical or not. By understanding the needs and preferences of their clients and identifying areas for improvement, businesses can make informed decisions about their future state and investment in analytics. He talks about the importance of being able to integrate tools, scalability, fitting the needs of the business and customers, and the ability to customize the tools. Adam discusses the concept of a company's approach to building capabilities and whether they want to be an analytical firm or not, and which analytics will help the business. He suggests that companies should make strategic choices about centralized or distributed analytics functions, monetizing external data, and maintaining a high level of customer consent. He also suggests that companies should build these capabilities aggressively, gradually improving over time, and that companies should start with quick wins on important use cases and gradually build on more complex ones, such as marketing ROI models. For listeners interested in learning more about his practice, Adam recommends visiting braff.co, which offers resources such as a blog, an annual forecasting contest, and programming course. He also mentions that he has taught this content in graduate programs at Brown and NYU and has started teaching a corporate version of the analytics intensive course. Timestamps: 01:18 Setting up data analytics function in a company 07:02 Analytics Strategy and Measurement 12:52 Data management categories and sourcing 16:12 Data management, analytics, and AI in businesses 22:06 Managing and developing analytics talent 26:50 Data-driven decision making and analytics in business 29:13 Data-driven decision making and analytics tools 34:44 Data analytics maturity and strategic prioritization 40:17 Building a data analytics function for a business Links: Website: https://braff.co Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Episode 134: Questions From the Listeners #12

The DigitalMarketer Podcast

Play Episode Listen Later Dec 28, 2023 71:11

Rob Pizzola and Johnny from betstamp answer frequently asked sports betting questions! Covering nuanced sports betting topics, CLV questions, bankroll management, and some personal questions! Looking to sign up at new sportsbooks? Support Circles Off when you do! www.betstamp.app/circlesoff

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Beyond Infobesity: Crafting Compelling Content Consistently with Geoffrey Klein

Play Episode Listen Later Dec 21, 2023 34:38

How do you create consistency with your content? And how do you make sure your content is worth the time people are going to give you to pay attention to it? As new distribution tools for content continue to evolve, being able to communicate through telling a story is more important than ever. So too is being consistently on brand and being consistent over time. Even if it means repurposing old content and resharing it again when something you once said (and banished to a hard drive folder) is suddenly newsworthy again. This is the advice of Geoffrey Klein, AKA Mr. Purple, author of ‘The Content Beast: Create story-driven content to connect with your audience'. Jeffrey is sharing the successful strategy behind how he got 352K views on his TEDx talk and the content campaign he did leading up to it.Old-school marketing values are espoused in today's episode reminding us to continue the conversation with our customers beyond the transaction. It's about building a relationship; it's about how we make our customers feel. And to get there, to that place where you've captured your customer's attention and imagination, requires reverse engineering content from what they care about to what you then create. Learn how Mr. Purple did just that with content pillars that battle 'infobesity' - and more! Geoffrey Klein is the Founder, President, and CEO of 9 Dots. You can check out his new book, ‘The Content Beast: Create story-driven content to connect with your audience', at the link below. Key Takeaways:01:12 How is content evolving? Appreciating the new distribution tools (and the old model of storytelling)02:50 Understanding 'infobesity' 04:16 The 11th Commandment: 'Know Thy Audience' (adopting a customer-centric mentality)07:00 How to connect good content with a revenue stream08:25 Understanding the Story PAD (Pain, Answer, Difference it makes)11:58 How to differentiate between content for brand awareness and content for retention (CLV)16:24 How to justify your content marketing campaign to an executive 18:15 How consistency leads to loyalty (and brand advocacy)19:36 Why having an integrated content strategy is so important20:50 How Geoffrey's TEDx talk got so many eyeballs22:18 'Playing the hits': repurposing successful content and resharing it25:24 Understanding audience segmentation 27:32 How content connects you (and reinforces that connection over time)28:50 ‘ERA': Experiment, Review, Adjust!Connect with Geoffrey Klein:LinkedIn - https://www.linkedin.com/in/ggklein/Buy Geoffrey's book - Amazon.com: The Content Beast eBook : Klein, Geoffrey: Kindle Store Website - https://ninedotsmedia.com/Be sure to subscribe to the podcast...

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EP314 - Shawn Nelson, Founder and CEO of Lovesac

The Jason & Scot Show - E-Commerce And Retail News

Play Episode Listen Later Nov 20, 2023 52:07

The Jason & Scot Show. Podcast about e-commerce and digital shopper marketing. Editor note: We're trying some fun new AI features for this episode. The following show notes were written by ChatGPT. We're also let AI remove all the "stop words" in our audio, and we've switched from Google to OpenAI for our audio transcription. Let us know your feedback. In this episode of the Jason and Scot show, our special guest is Sean D. Nelson, the CEO and founder of Lovesac. He shares his inspiring journey of starting the company as a beanbag business in his basement and growing it into a successful public company. Sean highlights the key moments of his entrepreneurial journey, including winning a million dollars on Richard Branson's reality TV show and navigating the ups and downs of the business. Sean has upcoming book and podcast, both entitled "Let Me Save You 25 Years: Mistakes, Miracles, and Lessons from the Lovesac Story." Sean emphasizes the importance of being a direct-to-consumer brand and how Lovesac has found sustained success by focusing on customer acquisition costs and offering a high-quality product. He discusses the concept of direct-to-consumer and shares his thoughts on its significance. Sean believes that having a differentiated product that provides value to customers is crucial, rather than simply relying on an online sales strategy. The conversation also touches on the topic of innovation and how Lovesac has been able to push the boundaries of what a furniture company can offer. Sean discusses their Stealth Tech innovation, which incorporates surround sound into their couches, as well as their commitment to creating products that are built to last and designed to evolve. Sean acknowledges the challenges of operating in physical retail and highlights the importance of their showrooms in reducing customer acquisition costs and providing a hands-on experience for customers. He also mentions their partnerships with Best Buy and Costco to expand their reach. The discussion expands to the future of retail and e-commerce, with Sean mentioning the transformative role of AI but cautioning that it takes time for movements to fully evolve. He emphasizes the importance of being patient and keeping an eye on developments in the industry. The conversation concludes with Sean expressing his long-term commitment to Lovesac and his desire to build something meaningful rather than focusing solely on personal gain. Listeners are invited to check out Sean's podcast and website, as well as his upcoming book, which will be released in January. Overall, this episode provides insights into the journey and philosophy behind Lovesac's success and offers valuable perspectives on entrepreneurship, innovation, and the future of retail. Chapters 0:00:46 Introduction and Welcome to the Show 0:08:36 The Journey of Love Sack: From Highs to Lows 0:12:05 Love Sack's Traditional IPO and Company Performance 0:15:49 The Importance of Having a Differentiated Product 0:19:49 The Value and Overhype of Market Movements 0:23:18 Sactionals: Built to Last, Designed to Evolve 0:25:56 Driving a Movement for Sustainable Consumerism 0:31:36 Innovation and the Evolution of Lovesac's Product Line 0:37:07 The Strength of Lovesac's Physical Showrooms in the DTC Landscape 0:40:03 Testing and Learning: Mobile Concierge and Shop and Shop 0:41:52 AI's transformative role in the future of technology 0:50:08 Long-Term Vision vs Quick Profit Episode 313 of the Jason & Scot show was recorded on Thursday, November 9th, 2023. Transcript Jason: [0:23] Welcome to the Jason and Scot show. This episode is being recorded on Thursday, November 9th, 2023. I'm your host, Jason "RetailGeek" Goldberg, and as usual, I'm here with your co-host, Scot Wingo. Scot: [0:37] Hey, Jason, and welcome back. Jason and Scot show listeners. Jason, we're very fortunate to have a entrepreneur on the show. I'm the entrepreneur side of our partnership. So I always really enjoy these. Introduction and Welcome to the Show [0:49] We have on the show, Sean D. Nelson. He is the CEO and founder of Lovesack. And a little birdie told me that he recently started a podcast himself. He started Love Sack as a beanbag company in his basement when he was around 18. And now it's a public company and doing relatively large revenues over 600 kind of run rate. If I look at the last quarter, I took a little glance at that. Sean, welcome to the show. Shawn : [1:13] Thank you. Thanks for having me. Great to be with you. Jason: [1:16] We are thrilled to have you, Sean. Listeners always like to kind of get the background. I'm imagining you don't have a deep background before you started Love Sack because you started it so young. But can you, like where were you in life when that brought you to start build your own product? Shawn : [1:34] Yeah, strangely, 25 years in and still running the same company I founded as my side hustle in college, which is exactly what Love Sack was. So 95, all the way back then, I made a giant not bean bag because I thought it would be funny. I literally, 10 days out of high school, got off the couch at my parents' house, having this dumb idea, like, how about a beanbag, like, me to the TV, like, the whole floor, like, huge. Drove down to the fabric store, bought some fabric, brought it home, cut it out, and then began sewing it up, broke my mom's sewing machine, neighbor finished it, took three or four weeks to try and stuff it, originally with beads, but couldn't possibly find enough, so looked around the house, I just found out my parents' camping mattresses chopped up yellow foam, you know, like those yellow slabs of foam you take camping, on a paper cutter in the basement. And eventually, I mean, foam, packing peanuts, old blankets, had this thing stuffed and started using it out and about through university, taking it camping, back of the truck, driving movies. Ended up putting it away for a couple years. And by the way, everywhere I took it, everybody wants one. Like everyone's always like, Oh my gosh, what is that thing? Where'd you get it? I was like, I'll never make another one. It was such a pain in the butt and put it away for a couple of years to go be a missionary for my church. [2:58] And came back to finish up university in 1998. And that's when I founded the company. Cause people kept bugging me to make them one. And it became my side hustle in college. And we tried to sell these things eventually beyond our friends and family and beer fest, May fest, October fest, car shows, boat shows, 10 by 10 booths, how we got started. Tried to sell them to furniture stores and they laughed at us and told us it was a dumb idea. [3:34] Eventually, at a trade show got discovered by the limited to this is like, you would not today as justice like in the malls, like little girls pink and purple fuzzy stuff for their bedrooms and, and clothing. Anyway, they ordered 12,000 little love sacks, not knowing it was me and a buddy and like a woodchipper shredding foam in the back of this furniture place. And, and that forced us to source over in Asia, which is, you know, where I had served my mission. So I speak Mandarin Chinese. There's a whole story there I won't get into it it was just kind of one thing led to another led to another week we built a factory to support that 12,000 sack order we then went out to the furniture stores who again laughed at us didn't want our $500,000. [4:19] Beanbags having completed that order wanting to keep the factory going so we finally opened our own store in a mall that didn't even want us there but finally capitulated let us in because they We had a space to fill for the holiday season, in Salt Lake City, Utah, and it just exploded. We did a good job, carpet paint, neon sign, made it look like a proper mall chain store selling giant beanbags, and it just took off. Like, it worked. People came in, flopped down, music bumpin', big screen TV, playin' movies, had a great time. There was a couch in the corner to look pretty, be part of the decor. People kept asking about the couch, And that led us to eventually, many stores later, many states later, invent Saxionals, which is our modular sofa solution, which now drives almost 90% of our sales today. So we're more a couch company by far today than we are a beanbag company. And there was a whole, listen, I'm skipping over decades of time really, but there was a whole transition where we... We went through after we invented the sectionals and solved all these problems people have with couches not only can you ship it to your house via FedEx which was hyper relevant you know for. [5:32] E-commerce and digital marketing obviously but it's watchable and changeable, and movable and it can be with you the rest of your life that that led us to a whole design philosophy that now. [5:42] Drives are innovation we think is a really cool secret sauce called design for life but. 10, 20, 50, 100, 250 locations now. We came public in 2018 on about 100 million in sales. Right around the time there was just tons of fervor in this direct consumer movement. We had farted around, we'll call it as a furniture store, selling rugs and lamps and bowls and baskets and all the obvious things along the way. And it was really when we purged all that stuff around 2015, seeing the Caspers of the world emerge and Warby Parker's and even Tesla with their showrooms. Could we adopt a more e-commerce-led model with showrooms for people to kick the tires, so to speak? And that transition is really what unlocked the lovesack that you see today and where most of our growth has come since about 2015, 16, when we made that pivot, took the company public, wrapped around that direct consumer story. So we're not a digitally native brand originally, we were actually a retailer that pivoted and became digitally led. And now we don't even operate stores in the traditional sense. We don't, we don't stock things there. You know, you don't walk out of there with your product. They're all really online sales and those showrooms are extremely powerful mechanisms for helping people make up their mind around a five or 10, $15,000. [7:06] Purchase where they want to see the thing and sit on it and, and, and see if it's everything it's cracked, it's cracked up to be online. And so we, we, we believe that we really, uh, through that arc. And then by the way, since coming public, I don't know, six, seven X, the company this year, you know, we'll, we'll be on a run rate to the analysts were a public company. So the analysts show us around, you know, it's called 700 plus in revenue and profitable, very profitable and cash generative. So we think, you know, the direct consumer game, in a lot of respects, Love Sack is one of the unlikely winners of that entire movement. Because I think at that scale, there are very, very few, what I call successful direct to consumer brands. And so we're really proud of that. And it's been a long saga, and we continue to grow and change and adapt and evolve. Jason: [8:01] It's an amazing story. And we definitely want to unpack it. But I want to go all the way back to the beginning for one second. Did that neighbor who helped finish sewing the first prototype get any equity? Shawn : [8:13] No, it was my ex-girlfriend's, mom, so about the time she exited, you know. No, it was just a friendly favor, but the truth is a lot of people helped out along the way, and a lot of people had equity or have equity in Love Sack from along the way, but look, we've been through every high, every low. Somewhere in the middle there, I skipped over it just because of brevity. Not only did I win a million dollars on TV with Richard Branson, The Journey of Love Sack: From Highs to Lows [8:38] his reality TV show on Fox Network back in 2005, if you can believe that, the rebel billionaire. But I also guided the company through a complete chapter 11 reorganization back in 2006, spearheaded by Venture Capital, which was painful and ugly and embarrassing and humiliating. So we've been through every kind of thing over these better than two decades. Scot: [9:01] Yeah, my deep dive question is, when you rented or bought the wood chipper, did you tell them you'd be throwing foam in there, or did they think you were clearing up a tree? Shawn : [9:09] Oh, that's so the original story. Yeah, the original woodchipper actually, you know, if you've ever used one in your backyard or, you know, you shove sticks into these things, that's basically what the original shredder was. And it was in the back room of this furniture factory already. They had used it back in the seventies to shred foam, but it had an electric motor, right? Instead of like, okay. Scot: [9:30] So it's okay to be inside here. Shawn : [9:32] Well, yeah, but I had to rehab it because it hadn't been used in like a decade or two because shredded foam had fallen out of favor in furniture. And then later to do that bigger order, we couldn't afford like a proper German, shredder, so we ended up driving out to farm country to find more of those same kind of shredders and actually found a hay grinder called a hay buster can shred 2000 pounds at a whack. Scot: [9:57] And that's a lot of power. Shawn : [9:59] Yeah, it's powered by a tractor. So we, you know, agricultural loan for tractor and hay grinder. I mean, crazy, crazy story in the beginning. Scot: [10:07] Yeah, as a family, you gotta figure out how to get it done, right? Whatever it takes. Shawn : [10:12] Whatever it takes. Scot: [10:13] I didn't know the Richard Branson thing, so that was interesting. Did he like, was he an active investor, or that's like one of those things where his people kind of take over and you never hear from him again? Shawn : [10:22] No, I mean, it was a weird situation. He had a reality TV show, 2004-5, The Rebel Billionaire, you know, whatever, 16 contestants. It was like The Apprentice, but not for apprentices, for entrepreneurs. So my runner-up on the show was Sarah Blakely of Spanx, gives you an idea. Scot: [10:38] Oh, okay, cool, neat. Shawn : [10:39] Yeah, yeah, so we became great friends, she and I, Richard and I. I ended up also being named President of Virgin Worldwide for a minute as part of the prize, believe it or not. So, worked with Richard, worked with all of his CEOs. Totally weird outcome. And, you know, but huge, huge blessing and a huge piece of story. And he was involved in sort of our VC round that ensued on the tail of that. Scot: [11:06] Okay, and then I think I saw that you guys were on Shark Tank, right? You were like one of those that you know, kind of one of the big success stories. Was that the OG Shark Tank or? Shawn : [11:16] No, we weren't on Shark Tank. A lot of people thought that. There was a Love Sack copycat that's on Shark Tank. Okay, and so they got... Scot: [11:23] I was confused because like Google says you were and then I was like, but then I couldn't find the episode. Jason: [11:28] There's a whole TikTok channel dedicated to Love Sack and Shark Tank and it's super weird. Shawn : [11:36] That's super, yeah, people get confused. Scot: [11:42] Yeah, yeah, super weird. Yeah. And then when you did your IPO, was it a traditional IPO or did you guys get caught up in the SPAC craziness? Shawn : [11:51] No, we did a traditional IPO back in 2018 and you know, our stock has been really volatile for lots of different reasons that, you know, COVID was crazy, but the company performance has been really solid. So we're just trucking. Love Sack's Traditional IPO and Company Performance Scot: [12:06] He, I think, was at Graham that said in the short-term it's an emotional machine, in the long-term it weighs your financials. So you got to, it's very hard, you know, I took a company public, not to the level you have. And yeah, it is, I was like, I'm not going to look at the stock, it's not going to influence me. And then suddenly everyone's like, are we making the quarter? And it's like, okay. And then suddenly it's very hard to get out of that, that short-term mindset. So congrats to you for sticking to it for so long. Shawn : [12:29] Yeah, look, I'm actually a big advocate of it, having lived inside of it now for almost six years. Scot: [12:36] Yeah, the transparency is good, you know, and I like that part of it, I think that's good for, you know, to kind of have to put out everything that you're doing, you know, it's a, the ultimate, yeah, it's like, yeah, transparency tends to be a good thing. Shawn : [12:48] I think it's the right way for companies to be governed and ran. Anyway, we could get into that if you want. Scot: [12:56] Yeah, I like the, you know, and you talked about all the other, we call them digitally native vertical brands, like the Warby's and Bonobos and all that. And yeah, a lot of them have not made it past kind of like that hundred million dollar level. And you guys have obviously, you know, six, seven X that, which is awesome. And then, you know, the big knock on Casper for a long time was as we've actually had this guy, Dan on the show, people were able to pick apart the CAC LTV and they found the average selling price was like, Jason will know these numbers, but it was like 350 and their cost to acquire a customer was 400. And they were like, you know, that obviously wasn't sustainable. So it's pretty neat that you guys have figured that out. Shawn : [13:36] Yeah. I mean, that's at the root of why obviously we've had some sustained success. And I think it's also at the root of why there are almost no other direct consumer brands making any money. End of story, full stop. And it's pretty fascinating to watch the whole thing unfold, because it really has been a movement for almost a decade. Scot: [14:01] Yeah, and I don't want to dig into the information you don't divulge publicly, so this is not a trap or anything but is it because the selection or your products, you've kind of cracked the code on Kakao TV, like what do you, and I don't want to know any methods or anything. and what do you attribute it to? Shawn : [14:18] Look, I think, let's start at the root. I think that many companies, product companies, let's start there, overlook the fact that you need a really good product. I think they pick a category and they say, oh, it could be a direct consumer brand. And the truth is, what does that even mean? Do you mean, because here's the funny thing. When I hear analysts and industry people talk about direct consumer, it has become synonymous over the last decade as it's unfolded today with e-comm. Oh, you mean you're an e-comm company and in many cases you do half of your sales through wholesale. So what does it even mean? I mean, if you want to talk about a direct consumer brand, LoveSack may be the most direct. We don't have any wholesale. I'm talking zero, and we only sell through our own channels, whether it's our website or our showrooms. And we have these partnerships, for instance, where we operate our own showrooms inside of a Best Buy or a Costco. [15:26] But you know, so this whole phrase even, direct-to-consumer, I think is really kind of silly. You mean you're a company that sells stuff online and maybe in showrooms and maybe in wholesale? So you're a company that sells stuff. So let's start with stuff. And you have to make, I think, if you want to be successful in the world, it's not a new concept. You have to have... A great product or or you have to have some other really. Hiller efficiency The Importance of Having a Differentiated Product [15:52] and i think what most have discovered it was a list again over this long decade of direction sumer evolution is that without a really differentiated product. You're just another company with a clever name lots of funding and if you throw lots of money at anything it's gonna grow. But you need to be differentiated. So Love Sack, you know, start with the giant beanbags. They were unique, especially in their day. There's tons of copycats out there now. [16:24] Sactionals are extremely unique. The problem is they photograph just like any other sectional sofa. Like if you took an image of Sactionals and an image of one of, you know, out of any competitor that sells couches, ours looks a lot like theirs. But the difference, the differences are myriad in terms of their washability, changeability, quality, and modularity, and many of those aspects, especially on the modular side, are patented at LoveSac. And so once you dig into it, you find that that's the number one driving factor, is we have a product that's truly differentiated, truly gives more value to the customer, and therefore, we can extract more from the market. It's really that simple, right? And that's at the root of why our CLV to CAC ratio it was so high and sustainable and cash-generative and profitable. And then we could go down all kinds of other paths. We could talk about our website, execution and stuff like that. And all of it needs to be there. Look, running a business is multifaceted and difficult. But at the root of it is that. Jason: [17:27] For sure. One of the things I sort of admire about your company is the original premise was not to have a particular go-to-market strategy. It was to have this great product that people wanted to have in their lives, right? And it feels to me like that, the whole quote unquote D to C movement, like this notion that before you solve any other problem, you're just gonna put a flag in the ground, like this is how you're gonna go to market, that just, it just seems silly because that may not be how the customer wants to acquire your product. Shawn : [18:00] Yeah, I think you're right. And I think that, so I think that whole movement that we're a part of, so I don't mean to like bag on the movement. I'm just an observer as well. Like I've been living in it, right? And we put, and I'm being really transparent, we put on those clothes very intentionally. [18:16] Because people that planted those flags were getting funded. People that planted those flags were being understood at the time. And these movements come. Right now, I could hold up a flag that said AI on it and go out there and raise a bunch of money and do something. And in the end, 99 out of 100 of those, flags are going to fall by the wayside after having tons of money thrown at them and Probably 1% of them will go on to you know be the next Googlers or who knows what right? But these movements come and go and and and I'm and this is what I'm saying You gotta be careful. I'm not bagging on the movement because these movements are useful these movements drive economic activity these movements drive innovation But they're often way overhyped, not as, I think, not as, so, you know, I mean, we could get into AI, you guys are, I'm sure, tracking it just like I am. What does that even mean? Oh, you mean like software? You mean like software that, that does stuff in an automated fashion? Like is that, is that, is it really that new? But it doesn't matter. It's a story that's being heard. It's a story that's being understood and it's where the momentum is. And so if you're able to wield, take advantage of these movements in the marketplace to your end, that's what, and that's exactly what LoveSack did. We put on those clothes, we took a concept that had been around for a long time, our concept. [19:42] And look, in the end, the thinking and the development and even like, let's say the web services and all the things available to that movement that The Value and Overhype of Market Movements [19:49] were spun up because of that movement, we benefited from. The money raising pricing aside, momentum, going public, whatever, all these things aside. So that's why I'm saying I think that there is value in these movements, but fundamentally, you still need to have a great business, a great product, something that's truly differentiated, because anyone with some funding can go out, buy a logo, buy a name, and look like they know what they're doing. Jason: [20:20] And yeah, for sure. And to your point, there's a, there's a funny data by going around in, in our industry this week that like over a hundred million dollars or I'm sorry, Amazon's GMV is, I'm sorry, a hundred billion dollars of Amazon's GMV is from AI. And you hear that and you're like, oh my God, that's huge. And then you find out it's product recommendation tiles that they launched in 1997. Shawn : [20:45] Yeah. Yeah. Yeah. Jason: [20:47] Which, yeah. Yeah, so I do just want to like kind of wrap up this section, but put it in context. When you open that first store in a mall, like the mall competition for furniture stores was like Expressions Furniture, right? Which no one on this call would even remember probably. And then like by the time you really, after your IPO and really caught fire, you were competing directly against all these D to C companies that were expanding in malls. You were probably competing for leases. Shawn : [21:18] Yeah. Jason: [21:19] It's quite the, quite the journey. Now, Scot mentioned at the beginning of the show that you had recently started a podcast and I'm two part question. How the heck did you have time to start a podcast and tell us what the premise behind the podcast is and what you're talking about? Shawn : [21:36] Sure. Yeah. Just to comment first on what you pointed out, there is this whole strip in the malls now out there right now. But by the way, in these shopping malls that I was told were dead, you know, I could read the headlines of shopping malls are dead back in 2001 when I was opening my first shopping mall and I was forwarded those kind of emails by friends and family who were concerned. And here we are in 2023 and while these things change, they take decades to change. Meanwhile, they've evolved and you have all of these direct consumer players now and it It just cycles through, you know? What the players inside of these shopping centers happen to rotate, and I've watched it all evolve, and by the way, they're rotating again, because a lot of those players are not viable. Some of the best ones, biggest ones, you know? Like, concepts like Peloton, who I think is amazing as a concept, you know? They have their struggles, and so we watch these things evolve. In terms of, the podcast is relevant to this. Let me explain why. We had the chicken, I'm going to go, given the nature of what your podcast is, I'll give you a much broader picture than just, hey, why am I recording a podcast on my own and writing a book? [22:55] It works like this. We had the chicken before the egg. Sactionals being the chicken, we discovered, as we observed and had success with it, we believe are so successful because they are are built to last a lifetime and designed to evolve. Like those two attributes in our product are quite unique. And those two attributes underpin what we call our designed for life philosophy. Sactionals: Built to Last, Designed to Evolve [23:21] I did not found Love Sack to make products that are super sustainable, sustain hyphenable. In other words, things that actually sustain. Who's talking about that? I was just trying to survive. I made a big beanbag, people liked it. Made a couch because people were asking about couches. who has solved all these problems, observed the success, and that success was rooted in the fact that things were built to last, designed to evolve. Now that's led us to this whole philosophy that will inform our innovation on every product going forward, and it's why I'm so confident that we can continue to succeed, is because of this design philosophy that I'm sharing with you openly. Because it's one thing to say it, it's another thing to execute to it. That's the hard part. It's the execution that's the hard part, you know? Now, that said... [24:08] I'm trying to drive a movement. I believe that there are many people that are sort of aware now that we have been conned into buying too much crap. New season, new collection, the merchandising hamster wheel, new iPhone, now it's got a titanium band. Really? Everyone knows. No, it's not even hidden. It's not even like a secret. it. This whole hamster wheel called planned obsolescence that was not an accident, it's absolutely an economic strategy to lift us out of the Great Depression and onward. And it has roots all the way back to Louis XIV. What's my point? The world has just, I guess, accidentally, not so accidentally, fallen into all kinds of rhythms that are unhealthy, unsustainable, and not good for anyone, not good for the environment, not good for people, you know, we're frenetically chasing out. Now my jeans are too tight, now they're too loose, now they're too long, now they're short, now I got, now they got to show my ankles, now they got to drape over my, like, this is not an accident. This is a self-propelling machine that we have created. What's my point? I believe we can drive a movement amongst people to reject that. And I believe factionals is one of the embodiments of that. Things built to last a lifetime are designed to evolve. So that movement is actually my long-term strategy. [25:33] In the near term, I need to... One of the ways that we will reach people besides buying advertising and using it to drive a strong CLV to CAC ratio is through... I don't know, even podcasts like this is through people finding our brand, finding out about me, finding out about the company through... Whether it be me, whether it be through the goodwill of our customers, sharing this or that, the other. And so I wrote a book called Let Me Save You 25 Years. It's our clever story Driving a Movement for Sustainable Consumerism [25:59] at Love Sack. It's really great. I think it launches in January. I spun up a podcast called Let Me Save You 25 Years where I share my own entrepreneurial mistakes, miracles, and lessons of the Love Sack story. That's the subtitle of the book. That's the spirit of the podcast. I talk to successful people, some of the world's most successful entrepreneurs and successful people about these concepts. And it's not an interview podcast. We go really deep into some of these concepts. So my long-term goal ultimately, is to write another book that can help drive this consumer movement that I'm describing because I think if we can get a little bit of luck and get people thinking about these things and then eventually seeking out. Products that can do this, and just a lifestyle that is supported in the way that I'm describing. Buy better to buy less. Buy better stuff so you can buy less stuff. Well, obviously, LoveSack will benefit from that as a company that makes better stuff. And so, look, it's a long, long, long, long way around, but you asked the question, and I'm totally serious about that. Scot: [26:58] Yeah. So I'm gonna guess you're not a fan of fast fashion. Shawn : [27:03] No, I mean, that's obviously gonna be I made the topic of the book, you know? Scot: [27:06] And I'm not. Jason's a huge Xi'an fan, so you just really hurt his feelings. No, I'm just kidding. Jason: [27:11] Hey, I wore a Patagonia, a used Patagonia jacket in honor of tonight's show. What are you talking about? Shawn : [27:18] You are speaking my language, man. And look, it's not even about being a tree hugger. I think that people have a brain. And people, I think, are waking up to the idea after the iPhone 15, that holy crap, Apple probably should have been forced to innovate a long, long time ago. Biggest company on planet Earth because they sell us the same thing every year or two. Had we not allowed them to do that, they would have had to use their enormous treasure and enormous skill base to innovate into other categories and and change the world. Instead, we've allowed them to sell us the same thing every year. Scot: [28:06] That's an interesting ethos. Having built a company, about how many people are in your company at this point? Shawn : [28:12] Total about 1,500. It's about 400 at the headquarters and another 1,000 out in the field-ish. Scot: [28:19] Yeah, you're at that phase where there's people at the company that you've never really met before. And it's awkward because they always expect you to know their name and they all know your name. Yeah. Yeah. Yeah. So when you get a company to that scale, how do you keep innovating? And, you know, one of the ones that I really love that you guys have done is the Stealth Tech. I think that's genius because I love AV and like having a really immersive experience. And I'll let you explain what it is, but, you know, my wife hates the big black speakers that I try to put all over the house. So I think it kind of solves like six problems in one. So A, maybe let listeners know a little bit more about what we're talking about. And then be I'd love to hear like how do you guys you know it's really hard to kind of you know ideas are easy and execution is hard on execution. It's really hard to like you know nail what you're doing and you have a lot going on and then like keep innovating. How do you how do you like get the org functional that way? Shawn : [29:16] Yeah. I mean, I think number one is you have to, you have to really want it, you know, not, not just like, Hey, I want to, I want to get, I want to get more business. I want to sell more stuff. Obviously there's that. But this ethos that I just kind of unpacked for you that, that we tripped stumbled into does the design for life ethos animates this organization. Like, it is a lot of, it is very motivating to think about, holy cow, now that we know our purpose, and it's been identified, right? Inspiring humankind to buy better so they can buy, you know, everyone's like, it was purpose, purpose, purpose, and hire some consultant, you know what I mean? But for real, if you have something that's truly unique, and it's meaningful, it's not just like words on the wall, it really is motivating, it's exciting. Scot: [30:11] And you bake baked in the products have to get better too, right? Like you, that's not well, so you have to support it. Shawn : [30:17] That's exactly right. Like, yeah, like we have to make stuff that's built to last a lifetime and design to evolve, which is really hard because if it was easy, everyone would do that. And here I am telling you openly about it. Like that's what we're going to do. And I'm not afraid to tell you because most companies won't do it because it's just freaking hard. Like it's a lot easier. Like why doesn't love sack? You know, you brought up stealth tech. So Stealth Tech is full Harman Kardon surround sound, no quality sound loss audio. Perfect audio emanating from your couch through the phone through the next layer of fabric and through the decorative layer of fabric that's washable, changeable, removable, tuned down to the color of that fabric so that the audio is perfect rear, front, center, subwoofer, invisible, beautiful, because you don't see it, it looks just like a couch, and it has all that packed in there, it's radically successful. It's been, it's now a huge piece of our business. And nobody saw that coming, because what would they expect a couch company to do next? A couch beanbag company. An end table, a coffee table, a rug, a lamp, you know, decorative accessories, get into the bedroom, who knows, right? Like the obvious stuff. Scot: [31:32] Meatballs. Shawn : [31:32] And what, yeah, right? Why did we do that? We anyway, we saw the opportunity and we also invented it. So one is, Innovation and the Evolution of LoveSack's Product Line [31:40] to answer your question, a lot of play. We are constantly at our innovation lab playing. So it's not just consumer-led insights, which is a big piece of what we do, but it's also a lot of inventions. You gotta have teams to invent. You gotta have engineers. You gotta have, so you gotta support that. So there's a cost structure there. And that's why LoveSack is quite profitable, but not as profitable as it could be in the future, because we are investing in innovation. And there's a lot of heads. there's a lot of engineers, there's a lot of designers doing things. Now they're not just all running around playing, they also have a very disciplined approach to executing on innovation, like launching Stealth Tech a couple years ago, and bringing that to market, which is a heavy lift because it's our invention, it's our patents, and it was not easy for this beanbag company to get into home electronics in a real way. [32:29] We've done, I think, more than 100 million in home electronic sales and making us a pretty, a pretty big player in that space, believe it or not. Already, and I don't think most people even, you know, would think that. But we're, you know, totally serious about it. So, innovation, wrapped around an inspiring path to innovation, I think is the key. Do you have an inspiring path, or are you just trying to make more stuff? Because if I wanted all those things I mentioned, like I'm over here in Asia right now, I'm in Hong Kong. And if I wanted a whole line of living room furniture with our logo on it to make myself feel good, I could have it in four weeks. The suppliers will do it for me. They've been doing it for 30 years over here for all the biggest brands you can think of, you know? And we could give them some designs and give them some ideas and let our, I mean, it's so easy to just source stuff. I'm talking about, you know, product land. Now we're talking fashion, talking furniture, talk any category you want, the same is true. But to truly invent stuff's a lot harder. And that's why I think we've had success, that's why I think we will continue to have success. Jason: [33:35] Yeah, you know, so I am interested, I mean, obviously the product has to be the lead in solving that real problem for a customer. But I do think another helpful aspect to your business is that in order for those products to be successful, like, they have to be demonstrated somehow. Like, per your point, the catalog for the StealthTech sectional looks just like the catalog for a generic sectional. And so I'm thinking you having your own showrooms was a big advantage for being able to tell the story. And ironically, I'm not sure you opened that first showroom because you recognize that problem. It sounds like you opened that first showroom because you had no other way to get distribution. Shawn : [34:21] Oh yeah, yeah. And that's why I'm not taking any claim as some kind of marketing genius. We just kind of tried to survive in the beginning. And opening a showroom was actually a reaction to being rejected by the big furniture guys, because they didn't, you know, want our product, they didn't believe in us, whatever. They couldn't see it. And so thankfully, it went that way. And by the way, they weren't showrooms, they were stores. We were a furniture store for a decade and a half. And we did all the furniture store things. And we sold merchandise, and you pulled your car around and we loaded you up, believe it or not, or we shipped to you. And it took us a long, long time to, after copycatting all those furniture stores and hiring merchandisers and window dressers and all those kinds of things from our competition to do that stuff in our stores. [35:14] To make that pivot to the direct consumer model that we operate on today that obviously looks very prescient in today's model. Now, the reason I think we've been so successful at it is because we had those 15, 20 years to get really good at operating now 250 locations across every state, almost in the United States of America, where people are fighting and bickering and hiring and firing and touching each other, whatever it takes. The point is operating physical showrooms is not something you get good at in a day or a week or a year just because that seems like the next thing to do. We have a website, now people need to see our stuff, to your point. And that's the approach I think a lot of the direct consumer brands have taken. And I don't think that they realize how hard it is to be profitable at retail and how many pitfalls there are. Where if I want to get a little better at digital marketing, which I think we're pretty good at now, but I can hire that. I can agency that, I can platform that. And so I think that the physical side of things is really underestimated. And so thankfully, our very long haphazard history has played out in our favor in that realm. And I think it's a huge strength of ours, because by the way, now that the economy's pulling back and this and that, we're 250 locations ahead of most that are just really coming around to the marriage of physical with digital and not realizing that, You know, it's not something you can just turn on and be good at. Jason: [36:44] Yeah. And I think it's you, you rightly pointed out that like the whole landscape of DTC hasn't been particularly successful. There's not a lot of wins, but the, the people that are outperforming the average, even one thing they all have in common is they all have some kind of physical footprint to, to reduce CAC, right? So they're either have their own stores or they, they are white selling through wholesale, or they're, they're in front of customers in some way, The Strength of LoveSack's Physical Showrooms in the DTC Landscape [37:09] other than, than Facebook ads. Yeah, I, I did. I think there's a super interesting new evolution. I thought I read about though. So like Amen stores and showrooms are super complicated. People wildly underestimate how many mistakes you can, you can make owning and operating a retail store. And now, now that you seem to have that clicking, you guys are bringing the retail store to the customer's driveways. Is that true? Like talk to us about the mobile concierge. Shawn : [37:37] Yeah, so just like we're innovating in product, we're also always innovating go to market. So whether it's mobile concierge, which is a lovesack trucks, where you can, you know, from the comfort of your home, have us pull up in the driveway and show you our products, which we've which we've dabbled in, and have tested into. And we'll see, you know, where that goes. I think that that has its own just like retail has its own complications, but also more, I think, more. I guess scalable already is Shop and Shop. So our showrooms right now in shopping malls, they're only like 800 square feet. So obviously the metrics are great, right? We're selling very big ticket items out of very tiny footprints with a small staff. There's just good metrics. And I don't hide from that. That's been a big part of our success, right? So we chose a good category in that way. We chose a terrible category in the sense is that the home category has all kinds of other issues. Jason: [38:38] Not the easiest category to deliver the product. Shawn : [38:41] Yeah, I mean, there's delivery, but there's also just the cyclical nature. You couple that with the idea that, look, we are selling you something that we are intending you to have for decades. My sectionals in my home are 16 years old, some of them, made with brand new pieces, made with Stealth Tech. That's pretty cool. On the other hand, unless we give you Stealth Tech and other reasons to come back, like, you know, you've got your satchels and you've made your investment. And so look, we deal with cover. So we're innovating on product, we're innovating on go to market, shop and shop. So these thousand square foot showrooms have been very useful for us. We have 200 square foot showrooms inside of Best Buy's or Costco's, where our people are basically checking you out and allowing you to kick the tires on the product. And then look, whether you buy there or whether you go back and buy online, we don't care. We built an agnostic platform where we just want you to be in the family. So I think these are things that have evolved over time and you've got to test and learn, whether it's mobile concierge, as you described, whether it's shop and shops. And these tests and learn activities can take years to play out and really take to scale and stuff like that. And so I think in this day and age of, hey, I'm gonna go raise a ton of money and build my company to X revenue and exit for X multiple, which is I think Testing and Learning: Mobile Concierge and Shop and Shop [40:05] what drives a lot of entrepreneurial activity. [40:09] That kind of mentality just doesn't have the staying power necessary. And that's why you see so many of these brands reach a point where they have to be retooled, like some of them are going through now. And look, they've made someone rich. Sometimes these founders find ways to squeeze a bunch of money out of it, or private equity tosses the hot potato to the next guy and they make a ton of money out of it. But in the end, what's left? a brand that is at scale, doesn't make money, and can't go anywhere. So my point is you gotta have the stomach to grind it out, to spend the time, to really slow cook some of these things, and to be flexible when they don't work, and shut them down and move on to the next. And so constantly innovating on go-to-market, constantly innovating on product, and really putting in the time and energy it takes to refine concepts, you know. Scot: [41:03] I know we're running up against time, and you've obviously spent a lot of time thinking about this. I know your goal is to bring this ethos out, but if you think about retail and e-commerce, what do you think the next five years hold? You talked about AI. There's a lot of this stuff that's temporal, but anything you think that you believe is going to change the way we shop and buy, either in-store or online? Shawn : [41:29] Yeah, look, I think that it will just continue to evolve, and so I think AI is real. I think it will play a transformative role, and I think everyone's trying to figure out exactly what that is, and nobody really knows yet. I wish I could just give you a clever answer, but I think I've witnessed, AI's transformative role in the future of technology [41:53] you know, that's What's the benefit of having a 25-year perspective is it's like I was saying about shopping malls. The mall is dead, headline from 2001. TV is dead, headline from 2008. Here we are with both of them still intact. By the way, TV advertising is still a big piece of our marketing spend. I know that's kind of mind-blowing because it seems like everybody's cut the cord or gone to this extreme. And I'm just telling you, these movements take decades. And so while it's great to be ahead of a movement, you don't, unless you are trying to drive that movement, like unless you are trying to take advantage of that AI, boom, to go raise money and wave that flag or whatever. [42:40] I've found it's okay to be a laggard. It's not always beneficial to, unless you're trying to build your concept around that and take advantage of that movement itself, let the movements evolve. So I can't give you a great prediction of exactly what's going to happen. AI is important. But how, where the winners will actually be and what the effects will actually be, I think it's way too early to tell. But I do think it's important to keep your finger and keep watching and eventually, you know, to find the connection and lean into that to affect your business. You have to be a little bit patient, I think. Jason: [43:27] Yeah, well, certainly 25 years in, I think you've earned your patience creds, by the way. Shawn : [43:35] Maybe too much. Jason: [43:37] Yeah, I mean, there's pros and cons to both. Urgency can be useful in certain circumstances, but short time horizons come with a lot of problems, as you have rightly pointed out. That did lead me to one sort of thought question. And you, you referenced some of your, your CAC economics and side note, we've, we've one of the, our favorite guests on the show is this professor Dan McCarthy. Who's, who's a huge advocate for cohort analysis and customer lifetime value based businesses. And so he would be thrilled that you're on, because I know you guys disclose some of your cohort metrics in, in your financial statements, which he loves. And to me, you're in a really interesting category to do that because although your product has invented a reason for customers to come back and you've sort of turned a product into a system, it's not like a fast cycle, right? Like, and so like when you're thinking about like a time horizon for LTV, and you guys have a very good return on your CAC, but compared to most companies, your CAC still is really high, right? Like, you sell a lot of product to compensate for that. Shawn : [44:57] Yeah. Jason: [44:58] So how, like, you know, you're spending five or six hundred bucks to acquire a customer and then you're earning thousands of dollars on each of those customers. Like, was it difficult to sort of have the financial discipline to have a long enough time horizon to see those sorts of high CLVs come back for that initial customer acquisition? Shawn : [45:23] Yeah, I mean, you could call it discipline. In our case, again, it was just survival, being really transparent. You know, we were just trying to find a way to make this business work, and we weren't profitable right out of the gate. It took us many years to get better at retail, to get better at e-commerce, to have a shopping cart experience that was commensurate to the product, because that's really hard with our product. Our product is really weird and complicated. And so that's something that's overlooked with Lovesack. And I think a lot of our copycats and competitors are realizing that. You can't just use a Shopify checkout if you're going to sell something as dynamic as, let's say, factionals where, you know, you can buy a bunch of these and a bunch of those and combine them in a million different ways. How do you, how do you shopping cart that? How do you Amazon that, you know? And so, and so these are superpowers that we've developed over a long time and thankfully given it enough time to become profitable. So to answer your question about, you know, patience, I think part of it is just been our lot in life to, to be, to have patience forced on us. But secondly, real discipline around. [46:32] Our CLV and CAC metrics. So we are, we are, and have been for a long time, carefully monitoring them, tracking them, constantly innovating and refining on the marketing side, these things that I mentioned, whether TV, you know, over the top, linear, nonlinear, digital marketing with its 500 heads, you know, like I'm talking about species of digital marketing, it's such a big word, right? I have to be constantly and tirelessly refined and risk taken and stuff tried and stuff failed and all rolled it and it all rolls up into that CLV to CAC ratio that you can hope you can keep moving and then couple that with innovation so that people can come back and buy more. And so thankfully, look, we chose a category with a high ticket and that drives the lion's share. That first purchase drives the lion's share of that CLV to CAC relationship. But our long-term point of view now is not only to find other ways that we can do more of that, maybe even in other categories and adjacencies. [47:32] But also give like StealthTack, give people a reason to come back and add on. And then by the way, when they do come back, then they face the consequence of, well, what do I do with some of these things that I need to, let's say, I get StealthTack and I got to swap out two of my sides. Well, okay, the obvious answer is I don't want to throw those in the trash. We don't want them throwing them in the trash and they may not need another couch in another room. So it's leading us to services, trade in, trade up, recycle, you know, all kinds of things that will again, give us more reasons to reach out and touch that customer. And so I think that if you relentlessly pursue. [48:13] A good concept with good intentions being driven by good philosophy and purpose like I've described, it's been my experience that the universe kind of unfolds for you, but it doesn't do it overnight. And you can't just have a, at least in my experience, you can't just have a master plan and be like, we're gonna do this and then that and that. You have to iterate to it. You have to observe, you have to live some, like when we launched Stealth Tech, we just, you know, it's easy now to look back in hindsight and be like, well, of course people are gonna want to or trade in their sides or do whatever. But some of those things aren't always so apparent. And you need to plunge yourself into the pool, see what comes of it, and then react to that. And some of those reactions can take years to unfold. Like some of these services that I just described and whatnot, they'll take us years to manifest. [48:59] But the nice thing is, the core business can generate profits that will carry us to that and we'll invest some of those profits in that innovation that I'm describing. But it's like, it's just relentless, man. It's tiring. It's like you have to have the stomach to go the distance. And that's where the time horizon, look, I'm a big advocate of it. Culturally, you know, like when my whole organization knows, like the theme of our manager fest a month ago, this is where we all get together once a year, was 25 and 25 more. And I'm not kidding. Like my personal point of view, if I'm allowed to be here as a public company CEO, if I do good enough to stay in the seat, which is inherent, and that's why I love the structure. It forces you to be awesome, you know? [49:45] If I can do that, but the fact that my organization knows that I'm in for another 25, you know how grounding that is and stabilizing that is, as opposed to, man, when's Sean's gonna sell his stock and bail and go start his next company? That's what I'm supposed to do, isn't it? That's how I become a bazillionaire, isn't it? I'm not interested in that. I'm interested in building something. And I think that that, I don't know, desire is actually kind of rare these days. Long-Term Vision vs Quick Profit [50:14] I think everyone just wants to be a bazillionaire as fast as they can. Jason: [50:17] Oh, for sure. Yeah. Everybody's assuming you're going to cash out and invest in your first rocket. Shawn : [50:24] Yeah, whatever. And I think it's sad. Look, I'd love to make a ton of money, whatever. That's all great. But whatever happened to the ambition of let's build something awesome, no matter how long it takes. And that's where I'm at. Jason: [50:41] Yeah. Well, Sean, it's been an amazing run so far. This is going to be a great spot to leave it because we have used up our allotted time, but I know listeners are going to appreciate you saving them the first 25 years, and we're going to be super excited to watch what happens in the next 25. Shawn : [50:57] Thank you. Thank you. Scot: [50:59] We really appreciate it, Sean. I know you're in Hong Kong, you're in the middle of your day there, and we appreciate you coming on the show. If folks want to check out your podcast, where would you point them to? Shawn : [51:09] Yeah, wherever you love listening to podcasts, Let Me Save You 25 Years is the name. LetMeSaveYou25Years.com. You can find me on social media, Sean of Lovesack. I'm all over that and love to be connected, slide into my DMs. I mean, I love talking to customers, friends, peers, being very accessible and looking forward to building the movement. Of course, Lovesack.com. We're easy to find. Scot: [51:33] Trey Lockerbie 41 Yep. And the book's coming out in January and I assume it's going to be in all the usual places. Shawn : [51:37] Sean O'Toole 41 All the usual places. Yeah. Let Awesome. Jason: [51:45] Thanks again and until next time, happy commercing!

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Sports Gambling Podcast Network

Play Episode Listen Later Nov 6, 2023 37:58

Jeff 'Chalkx' Fox & Daniel 'Gumby' Vreeland are back in your earholes with their Cage Warriors 163 betting guide! Off to London, England we go. Mondays mean regional MMA on The MMA Gambling Podcast, and this week the boys head across the pond (virtually) to preview this Saturday's Cage Warriors 163 event. A pretty solid fight card, headlined by a welterweight title fight, is broken down by the boys, with Gumby giving out his winning picks. While odds haven't been posted for this event yet, Gumby thinks he's in on a big dog and at least a couple of other small underdogs. Get in on these picks as soon as the books post them and get that CLV! And what's a Tater McSpadden?! Listen in and find out! AppleSpotify JOIN the SGPN community #DegensOnlyExclusive Merch, Contests and Bonus Episodes ONLY on Patreon - https://sg.pn/patreonDiscuss with fellow degens on Discord - https://sg.pn/discordSGPN Merch Store - https://sg.pn/storeDownload The Free SGPN App - https://sgpn.appCheck out the Sports Gambling Podcast on YouTube - https://sg.pn/YouTubeCheck out our website - http://sportsgamblingpodcast.comSUPPORT us by supporting our partnersGametime code SGPN - Download the Gametime app, create an account, and use code SGPN for $20 off your first purchase - https://gametime.co/Factor Meals code SGPN50 - 50% off Factor Meals - https://www.factormeals.com/sgpn50Manscaped code SGP - 20% Off And Free Shipping - https://manscaped.comPrizePicks code SGPN - $100 deposit match - PrizePicks.com/sgpnHall Of Fame Bets code SGPN - 50% off your first month today - https://hof-bets.app.link/sgpnBetterHelp code SGPN - This episode is brought to you by BetterHelp. Give online therapy a try at betterhelp.com/SGPN and get on your way to being your best self.WATCH the Sports Gambling PodcastYouTube - https://sg.pn/YouTubeTwitch - https://sg.pn/TwitchFOLLOW The Sports Gambling Podcast On Social MediaTwitter - http://www.twitter.com/gamblingpodcastInstagram - http://www.instagram.com/sportsgamblingpodcastTikTok - https://www.tiktok.com/@gamblingpodcastFacebook - http://www.facebook.com/sportsgamblingpodcastFOLLOW The Hosts On Social MediaJeff Fox - http://www.twitter.com/jefffoxwriterDaniel Vreeland - http://www.twitter.com/gumbyvreelandShow - http://www.twitter.com/sgpnmmaGambling problem? Call 1-800-GAMBLER CO, DC, IL, IN, LA, MD, MS, NJ, OH, PA, TN, VA, WV, WY Call 877-8-HOPENY or text HOPENY (467369) (NY) Call 1-800-327-5050 (MA)21+ to wager. Please Gamble Responsibly. Call 1-800-NEXT-STEP (AZ), 1-800-522-4700 (KS, NV), 1-800 BETS-OFF (IA), 1-800-270-7117 for confidential help (MI) Learn more about your ad choices. Visit podcastchoices.com/adchoices

Cage Warriors 163 Betting Guide (The Tater McSpadden Episode) | MMA Gambling Podcast (Ep.447)

Sports Gambling Podcast Network

Play Episode Listen Later Nov 6, 2023 40:13

Jeff 'Chalkx' Fox & Daniel 'Gumby' Vreeland are back in your earholes with their Cage Warriors 163 betting guide! Off to London, England we go. Mondays mean regional MMA on The MMA Gambling Podcast, and this week the boys head across the pond (virtually) to preview this Saturday's Cage Warriors 163 event. A pretty solid fight card, headlined by a welterweight title fight, is broken down by the boys, with Gumby giving out his winning picks. While odds haven't been posted for this event yet, Gumby thinks he's in on a big dog and at least a couple of other small underdogs. Get in on these picks as soon as the books post them and get that CLV! And what's a Tater McSpadden?! Listen in and find out! Apple Spotify JOIN the SGPN community #DegensOnly Exclusive Merch, Contests and Bonus Episodes ONLY on Patreon - https://sg.pn/patreon Discuss with fellow degens on Discord - https://sg.pn/discord SGPN Merch Store - https://sg.pn/store Download The Free SGPN App - https://sgpn.app Check out the Sports Gambling Podcast on YouTube - https://sg.pn/YouTube Check out our website - http://sportsgamblingpodcast.com SUPPORT us by supporting our partners Gametime code SGPN - Download the Gametime app, create an account, and use code SGPN for $20 off your first purchase - https://gametime.co/ Factor Meals code SGPN50 - 50% off Factor Meals - https://www.factormeals.com/sgpn50 Manscaped code SGP - 20% Off And Free Shipping - https://manscaped.com PrizePicks code SGPN - $100 deposit match - PrizePicks.com/sgpn Hall Of Fame Bets code SGPN - 50% off your first month today - https://hof-bets.app.link/sgpn BetterHelp code SGPN - This episode is brought to you by BetterHelp. Give online therapy a try at betterhelp.com/SGPN and get on your way to being your best self. WATCH the Sports Gambling Podcast YouTube - https://sg.pn/YouTube Twitch - https://sg.pn/Twitch FOLLOW The Sports Gambling Podcast On Social Media Twitter - http://www.twitter.com/gamblingpodcast Instagram - http://www.instagram.com/sportsgamblingpodcast TikTok - https://www.tiktok.com/@gamblingpodcast Facebook - http://www.facebook.com/sportsgamblingpodcast FOLLOW The Hosts On Social Media Jeff Fox - http://www.twitter.com/jefffoxwriter Daniel Vreeland - http://www.twitter.com/gumbyvreeland Show - http://www.twitter.com/sgpnmma Gambling problem? Call 1-800-GAMBLER CO, DC, IL, IN, LA, MD, MS, NJ, OH, PA, TN, VA, WV, WY Call 877-8-HOPENY or text HOPENY (467369) (NY) Call 1-800-327-5050 (MA) 21+ to wager. Please Gamble Responsibly. Call 1-800-NEXT-STEP (AZ), 1-800-522-4700 (KS, NV), 1-800 BETS-OFF (IA), 1-800-270-7117 for confidential help (MI) Learn more about your ad choices. Visit podcastchoices.com/adchoices

Sharp Sirens feat. Ed Salmons | Ep. 239

Chicken Dinner

Play Episode Listen Later Oct 20, 2023 39:09

In this episode of the "Chicken Dinner" podcast, Sam Panayotovich discusses quarterbacks that wear wedding rings and college football CLV trophies. Special guest Ed Salmons joins to talk about expected corrections in the NFL market and who the wise guys like this weekend at the Westgate SuperBook. SUBSCRIBE! "Chicken Dinner" on iTunes, Google Play, Spotify, Stitcher, TuneIn, and wherever else you listen to your podcastsFOLLOW! @chickenxdinner @spshoot

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Episode 124: Questions From the Listeners #11

Play Episode Listen Later Oct 19, 2023 83:18

Rob Pizzola and Johnny from betstamp answer frequently asked sports betting questions! Covering nuanced sports betting topics, CLV questions, bankroll management, and some personal questions! Looking to sign up at new sportsbooks? Support Circles Off when you do! www.betstamp.app/circlesoff

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Episode 121: Sh*tty Sportsbook Trader Joins for a Discussion