Q&A Answering Listeners Questions: LTV, Creative Testing & More

Blues Brothers Podcast

Player FM - Internet Radio Done Right

تمت الإضافة منذ forty-three أسبوع

المحتوى المقدم من Nathan Perdriau & Sebastian Bensch, Nathan Perdriau, and Sebastian Bensch. يتم تحميل جميع محتويات البودكاست بما في ذلك الحلقات والرسومات وأوصاف البودكاست وتقديمها مباشرة بواسطة Nathan Perdriau & Sebastian Bensch, Nathan Perdriau, and Sebastian Bensch أو شريك منصة البودكاست الخاص بهم. إذا كنت تعتقد أن شخصًا ما يستخدم عملك المحمي بحقوق الطبع والنشر دون إذنك، فيمكنك اتباع العملية الموضحة هنا https://ar.player.fm/legal.

TechSurge: Deep Tech VC Podcast

1
Understanding the Elegant Math Behind Modern Machine Learning 1:14:43

منذ 12 يومًا1:14:43

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إعجاب

احب

1:14:43

Artificial intelligence is evolving at an unprecedented pace—what does that mean for the future of technology, venture capital, business, and even our understanding of ourselves? Award-winning journalist and writer Anil Ananthaswamy joins us for our latest episode to discuss his latest book Why Machines Learn: The Elegant Math Behind Modern AI . Anil helps us explore the journey and many breakthroughs that have propelled machine learning from simple perceptrons to the sophisticated algorithms shaping today’s AI revolution, powering GPT and other models. The discussion aims to demystify some of the underlying mathematical concepts that power modern machine learning, to help everyone grasp this technology impacting our lives–even if your last math class was in high school. Anil walks us through the power of scaling laws, the shift from training to inference optimization, and the debate among AI’s pioneers about the road to AGI—should we be concerned, or are we still missing key pieces of the puzzle? The conversation also delves into AI’s philosophical implications—could understanding how machines learn help us better understand ourselves? And what challenges remain before AI systems can truly operate with agency? If you enjoy this episode, please subscribe and leave us a review on your favorite podcast platform. Sign up for our newsletter at techsurgepodcast.com for exclusive insights and updates on upcoming TechSurge Live Summits. Links: Read Why Machines Learn, Anil’s latest book on the math behind AI https://www.amazon.com/Why-Machines-Learn-Elegant-Behind/dp/0593185749 Learn more about Anil Ananthaswamy’s work and writing https://anilananthaswamy.com/ Watch Anil Ananthaswamy’s TED Talk on AI and intelligence https://www.ted.com/speakers/anil_ananthaswamy Discover the MIT Knight Science Journalism Fellowship that shaped Anil’s AI research https://ksj.mit.edu/ Understand the Perceptron, the foundation of neural networks https://en.wikipedia.org/wiki/Perceptron Read about the Perceptron Convergence Theorem and its significance https://www.nature.com/articles/323533a0…

منذ عام واحد 33:07

MP3•منزل الحلقة

Lifetime value is largely influenced by the merchandising and quality of the product, rather than marketing efforts alone.
Technical competence is crucial for agency growth and success in the e-commerce industry.
Advantage Plus can negatively impact profitability, but with proper structuring and understanding of its limitations, it can be made to work effectively.
TikTok advertising requires a high volume of creative content and may be more suitable for enterprise brands.
Server-side tracking can improve tracking accuracy, but its incremental value may be limited.
Small creative tests may not yield statistically relevant results, and it's important to focus on new, innovative ideas rather than minor variations.
The volume of creative testing required for effective advertising can be much higher than expected, especially as ad spend increases.

Chapters
00:00 Introduction
01:17 The Impact of Merchandising on Lifetime Value
15:35 Making Advantage Plus Work for Profitability
20:05 The Limitations of Server-Side Tracking
26:49 Moving Beyond Small Creative Tests
30:09 The Volume of Creative Testing Required for Effective Advertising
32:37 Conclusion

28 حلقات

#Business #Marketing #Nathan Perdriau & Sebastian Bensch #Nathan Perdriau #Sebastian Bensch

Q&A Answering Listeners Questions: LTV, Creative Testing & More

Blues Brothers Podcast

published منذ عام واحد

MP3•منزل الحلقة

Lifetime value is largely influenced by the merchandising and quality of the product, rather than marketing efforts alone.
Technical competence is crucial for agency growth and success in the e-commerce industry.
Advantage Plus can negatively impact profitability, but with proper structuring and understanding of its limitations, it can be made to work effectively.
TikTok advertising requires a high volume of creative content and may be more suitable for enterprise brands.
Server-side tracking can improve tracking accuracy, but its incremental value may be limited.
Small creative tests may not yield statistically relevant results, and it's important to focus on new, innovative ideas rather than minor variations.
The volume of creative testing required for effective advertising can be much higher than expected, especially as ad spend increases.

28 حلقات

#Business #Marketing #Nathan Perdriau & Sebastian Bensch #Nathan Perdriau #Sebastian Bensch

كل الحلقات

1
The Hidden Death Spiral in eCommerce 29:27

منذ 19 weeks29:27

29:27

In this podcast episode, Nathan discusses the prevalent issue of the 'death spiral' that many e-commerce brands are facing in 2024. He explains how rising customer acquisition costs, coupled with a reliance on returning customers, can mask underlying financial problems. The conversation delves into the importance of cohort analysis, understanding customer acquisition costs, and the impact of attrition on revenue. Nathan emphasises the need for brands to track key metrics to identify potential declines in profitability and offers strategies for recovery and sustainability. Takeaways - Customer acquisition costs are rising, impacting profitability. - Returning customer revenue can mask declining first-time sales. - Cohort analysis helps visualise customer acquisition trends. - Brands often misinterpret returning customer rates as growth. - Attrition affects long-term revenue from returning customers. - Tracking profit on first purchase is essential for sustainability. - Downsizing operating expenses may be necessary during downturns. - Understanding blended CAC is crucial for financial health. - E-commerce brands must adapt to changing customer behaviours. - Proactive tracking can prevent falling into a death spiral. Chapters 00:00 The Death Spiral of E-commerce Brands 02:56 Understanding Customer Acquisition Costs 06:09 Cohort Analysis and Its Importance 08:57 The Role of Returning Customers 11:55 Identifying the Hidden Issues 14:56 The Impact of Attrition on Revenue 18:11 Tracking and Preventing the Death Spiral 20:59 Strategies for Recovery 23:55 Conclusion and Call to Action…

1
Navigating Agency Accountability & Black Friday Projections with Josh Tay 43:49

منذ 23 weeks43:49

43:49

In this episode, Nathan and Josh Tay discuss the importance of accountability in agency relationships, the challenges of forecasting retention and sales, and the necessity of setting realistic goals. They delve into financial transparency, especially during Black Friday, and the impact of offer structures on consumer behaviour. The conversation highlights the significance of profitability over revenue and the complexities of branding in a competitive market. Takeaways Accountability is essential in agency-client relationships. Forecasting retention sales requires a different approach than acquisition. Setting realistic goals is crucial for agency success. Financial transparency fosters trust between agencies and clients. During Black Friday, prioritizing profitability is key. Brand loyalty diminishes during high-discount periods. Effective bundling can enhance profitability and customer satisfaction. Understanding P&L is vital for informed decision-making. Agencies must connect their actions to financial outcomes. Consumer perception of brands can take years to evolve. Chapters 00:00 Understanding Agency Accountability 03:06 Forecasting Retention and Sales 06:00 Setting Realistic Goals and Expectations 09:02 The Importance of Financial Transparency 11:59 Navigating Black Friday Strategies 14:52 The Role of Profitability in Marketing 18:11 Branding Challenges and Consumer Perception 20:57 Utilizing Data for Effective Decision Making 24:11 The Impact of Offer Structures on Consumer Behavior…

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Round 2 Live eCommerce P&L Teardown with Valentin Kuznetcov 1:02:45

منذ 27 weeks1:02:45

1:02:45

In this episode, Nathan and Val dive into a P&L teardown of a business that operates multiple D2C brands. They discuss the importance of accurately structuring the P&L to understand the business's activities and potential to generate profit. They highlight the need to separate and track components of net revenue, such as gross revenue, discounts, returns, and shipping collected. They also emphasise the importance of transitioning from cash accounting to accrual accounting and the challenges of accurately tracking cost of goods sold and inventory. They discuss the significance of tracking transaction fees and the need to allocate them correctly. They also touch on the importance of segmenting advertising and marketing expenses and the benefits of using buckets to categorise expenses. In this conversation, Val and Nathan discuss the importance of understanding and optimising the financial aspects of a business. They explore topics such as gross margin, operating expenses (OPEX), marketing expenses, and the impact of personal expenses on the P&L. They emphasise the need for businesses to make strategic investments and allocate resources efficiently to maintain profitability and long-term success. They also highlight the challenges faced by online retailers who stock other people's products and the need for them to maximise spend per order and optimise OPEX. The conversation concludes with a discussion on the balance between reinvesting in the business and personal financial stability. Takeaways - Accurately structuring the P&L is crucial for understanding a business's activities and potential to generate profit. - Separating and tracking components of net revenue, such as gross revenue, discounts, returns, and shipping collection, provides valuable insights into the business's financial performance. - Transitioning from cash accounting to accrual accounting can be challenging, but it allows for a more accurate understanding of revenue and expenses. - Tracking transaction fees correctly is essential for making informed financial decisions. - Segmenting advertising and marketing expenses and using buckets to categorise expenses can provide clarity and help with decision-making. -- - - Understanding and optimising the financial aspects of a business is crucial for long-term success. - Gross margin and operating expenses (OPEX) play a significant role in determining a business's profitability. Marketing expenses are often high in the direct-to-consumer (D2C) space, and businesses need to find efficiencies in other areas to maintain profitability. Online retailers who stock other people's products should focus on maximizing spend per order and optimizing OPEX to improve gross margin. Strategic investments and efficient resource allocation are key to building long-term brand equity and staying ahead of the competition. Business owners need to find the right balance between reinvesting in the business and personal financial stability. Chapters 00:00 Introduction and Background 02:12 The Importance of Accurately Structuring the P&L 03:38 Tracking Components of Net Revenue 06:08 Transitioning from Cash Accounting to Accrual Accounting 09:25 The Challenges of Tracking Cost of Goods Sold and Inventory 12:31 The Significance of Tracking Transaction Fees 15:22 Segmenting Advertising and Marketing Expenses 33:27 Understanding the Impact of Fixed Costs on Profitability 36:10 The Significance of Gross Margin for DTC Brands 37:20 Challenges Faced by Online Retailers Stocking Other Brands 38:30 Maximizing Spend per Order and OPEX Optimization 41:15 The Shock of Marketing Expenses in the D2C Space 44:29 The Regression to 0% Net Profit and the Importance of Innovation 53:47 Minimising Noise and Adjusting for Personal Expenses on the P&L 58:15 Balancing Reinvestment and Personal Financial Stability…

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Lessons Learnt Over The Past 6 Months in eCommerce 24:02

منذ 30 weeks24:02

24:02

In this episode, Nathan shares nine lessons learned from working with brands and running a digital marketing agency. The lessons include the importance of cost of delivery, marketing, and operational efficiency, the value of omni-channel distribution for brands approaching $10 million, the ability to fix P&L exports in accounting software, the effectiveness of Meta (Facebook) as a platform compared to Google, the challenges of measuring incremental return on ad spend for small brands, the role of email and SMS as communication channels for retention, the impact of colour variants on conversions, the benefits of manufacturing revenue spikes through a marketing calendar, and the fulfilment of working with seven-figure brands. Takeaways Cost of delivery, marketing efficiency, and operational efficiency are the three core levers that drive rapid growth in brands. Omni-channel distribution is crucial for brands approaching $10 million in revenue. Fixing P&L exports in accounting software can provide more actionable insights for monthly reporting. Meta (Facebook) is currently more effective than Google for advertising. Measuring incremental return on ad spend for small brands is challenging due to various variables and natural revenue variance. Email and SMS should be viewed as communication channels for retention rather than direct levers for impact. Color variants can drive lift and add diversity to a product portfolio. Manufacturing revenue spikes through a marketing calendar can improve efficiency and brand association. Working with seven-figure brands allows for more control and impact compared to larger brands. Chapters 00:00 The Three Core Levers for Rapid Growth in Brands 05:12 The Importance of Omni-Channel Distribution for Scaling Brands 07:10 Improving Insights with Adjusted Xero Fixed P&L Exports 10:05 Challenges of Measuring Incremental Return on Ad Spend for Small Brands 12:00 Email and SMS as Communication Channels for Retention 16:49 The Impact of Colour Variants on Conversions 18:45 Manufacturing Revenue Spikes through a Marketing Calendar 21:36 The Fulfilment of Working with Seven-Figure Brands…

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Live eCommerce P&L Teardown with Valentin Kuznetcov 39:54

منذ 31 weeks39:54

39:54

In this episode, Nathan and Valentin dive into a real P&L and discuss the importance of understanding accounting principles and how to read a P&L. They highlight the limitations of a basic P&L structure and the need for a more comprehensive breakdown of revenue and costs. They discuss the impact of discounts and refunds on the business's profitability and the importance of optimising contribution margin. They also touch on the significance of OPEX and the potential for reducing costs to increase profitability. Overall, they emphasise the need for a proper P&L structure to facilitate better decision-making and finance management. Chapters 00:00 Introduction 02:25 Limitations of a Basic P&L Structure 04:17 Breakdown of Revenue Items 10:36 Variable Costs and Contribution Margin 18:12 Low Contribution Margin One 20:57 Impact of Discounts and Refunds on Profitability 23:25 Marketing Effectiveness Ratio 26:30 Importance of a Proper P&L Structure…

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Do Email & SMS Create Incremental Profit with Josh Tay 59:44

منذ 32 weeks59:44

59:44

In this episode, Nathan and Josh discuss the incremental revenue available through email and SMS marketing. They emphasise that while email and SMS are important communication channels, the true drivers of retention and revenue are merchandising and operations. They explore the concept of purchase intent and how it affects the effectiveness of email and SMS campaigns. They also delve into the importance of understanding the customer journey, leveraging reviews mining for messaging, and creating novelty and exclusivity through merchandising. They highlight the need for a comprehensive retention strategy that goes beyond email and SMS marketing. In this conversation, Josh Tay discusses the importance of novelty and exclusivity in email marketing to drive repeat purchases. He emphasizes the need for brands to create variations and new products to keep customers engaged and interested. Josh also highlights the significance of product consumption and value maximization in retaining customers. He explains the role of segmentation in email flows and the importance of tracking metrics and forecasting for effective email marketing strategies. The conversation concludes with a discussion on the future of email agencies in the face of AI. Takeaways - Email and SMS marketing are important communication channels, but the true drivers of retention and revenue are merchandising and operations. - Understanding purchase intent is crucial for effective email and SMS campaigns. - Reviews mining can provide valuable insights for messaging and product development. - Creating novelty and exclusivity through merchandising can drive customer repurchases. - A comprehensive retention strategy goes beyond email and SMS marketing and involves understanding the customer journey and creating switching barriers. Novelty and exclusivity are crucial in email marketing to maintain customer interest and drive repeat purchases. - Creating variations and new products helps to keep customers engaged and prevents them from getting bored. - Product consumption and value maximization are key to retaining customers and creating true retention. - Segmentation in email flows allows for more targeted and effective communication with different customer segments. - Tracking metrics and forecasting are essential for understanding the effectiveness of email marketing strategies and setting goals. - The future of email agencies lies in their ability to provide strategic insights and understand the wider business context, as AI may automate certain aspects of email marketing. Chapters 00:00 Introduction and Background 02:04 The Role of Merchandising and Operations in Retention and Revenue 06:19 Understanding Purchase Intent for Effective Email and SMS Campaigns 13:50 Leveraging Reviews Mining for Messaging and Product Development 18:14 Creating Novelty and Exclusivity through Merchandising 23:34 Going Beyond Email and SMS: A Comprehensive Retention Strategy 32:38 Driving Repeat Purchases with Novelty and Exclusivity 37:27 The Role of Product Consumption in Retention 46:27 Segmentation and Targeted Communication in Email Flows 51:02 Tracking Metrics and Forecasting for Effective Email Marketing 55:09 The Future of Email Agencies in the Age of AI…

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10 Brutal Truths of eCommerce 28:05

منذ 33 weeks28:05

28:05

In this episode, Nathan discusses 10 brutal truths of e-commerce for DTC brand owners. The first truth is that reducing ad spend is not the solution to higher operating expenses. Understanding how the P&L works and the flow of revenue is crucial. The second truth is that most accounts are either overspending or underspending, and finding the right balance is key. Attribution tends to overattribute bottom-of-funnel actions and underattribute top-of-funnel efforts. Customer repeat rates are largely influenced by merchandising and operations, not just marketing. Site intent is a better measure of success than click attribution. Buying the right products is more important than marketing for online retailers. Only a small percentage of creatives will scale. Strategies used by nine-figure e-commerce brands in the US can be applied to eight-figure brands in other geographies. Keeping operating expenses lean is essential for success. Focusing solely on cost of goods minimisation may not be the best solution, as cash conversion cycle also matters. Takeaways Reducing ad spend is not the solution to high operating expenses in e-commerce. Finding the right balance between overspending and underspending is crucial for success. Attribution tends to overattribute bottom-of-funnel actions and underattribute top-of-funnel efforts. Customer repeat rates are influenced by merchandising and operations, not just marketing. Site intent is a better measure of success than click attribution. Buying the right products is more important than marketing for online retailers. Only a small percentage of creatives will scale in e-commerce. Strategies used by nine-figure e-commerce brands in the US can be applied to eight-figure brands in other geographies. Keeping operating expenses lean is essential for success in the DTC business model. Focusing solely on cost of goods minimization may not be the best solution, as cash conversion cycle also matters. Chapters 00:00 The Misunderstanding of Reducing Ad Spend 05:21 The Balancing Act of Spending 07:18 The Attribution Challenge 10:01 The Influence of Merchandising and Operations on Customer Repeat Rates 11:56 The Importance of Site Intent 14:50 Buying vs. Marketing for Online Retailers 17:14 The Scaling Challenge of Creatives 19:10 Applying Strategies from Nine-Figure Brands to Eight-Figure Brands 22:05 The Significance of Lean Operating Expenses 24:09 The Complexity of Cost of Goods and Cash Conversion Cycle…

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The Future of Marketing in a One-Click World with Caden Thompson 43:33

منذ 34 weeks43:33

43:33

In this episode, Nathan and Caden discuss various topics related to Google Ads and agency land. Caden shares his background in marketing and how he got into the digital marketing industry. They dive into the concept of Google's Performance Max and its purpose in reducing the barrier of entry for small businesses. They also discuss the challenges and limitations of using Performance Max and how it can be used in conjunction with other channels. The conversation then shifts to the importance of specialization versus broadening focus in agencies, and the difficulties of upskilling large performance marketing teams. They also touch on the concept of removing conversion tracking from Google ad accounts and the potential benefits and challenges of this approach. The episode concludes with a discussion on the future of marketing in a one-click world and the value of media buyers in driving better financial outcomes for businesses. They provide advice on how to vet agencies and what to look for in terms of red flags and reporting. Caden's Socials Youtube: https://www.youtube.com/@cprogrowth LinkedIn: https://www.linkedin.com/in/cadenthompson/ Chapters 00:00 Introduction and Background 06:33 The Pros and Cons of Performance Max 09:23 Omnichannel Approach and Adding Facebook Ads 11:08 Specialization vs. Broadening Focus in Agencies 18:29 Removing Conversion Tracking from Google Ad Accounts 24:45 Testing and Results of Conversion Tracking Removal 31:05 The Future of Marketing in a One-Click World 33:16 Vetting Agencies and Red Flags 43:07 Conclusion and Where to Find Caden Takeaways Performance Max was introduced by Google to reduce the barrier of entry for small businesses in Google Ads Performance Max can be effective for new customer acquisition, but its use case diminishes as more businesses adopt it Caden recommends using Performance Max as a complementary tool rather than a main strategy Caden has expanded into Facebook ads to have an omni-channel approach and better understand user psychology The balance between specialisation and broadening focus is important for agencies Removing conversion tracking from Google ad accounts and focusing on overall incrementality is the best strategy Vetting agencies should involve in evaluating their impact on profit and looking for red flags in conversion tracking, audience sources, and auto-applied recommendations Business owners should not solely rely on agencies and should have a basic understanding of digital marketing In a one-click world, agencies should focus on driving better financial outcomes rather than relying on attribution Large businesses should vet their agencies based on profit improvement, conversion tracking, reporting, and decision-making based on financial metrics…

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Enabling Profitable eCommerce Growth with Carla Penn-Kahn 45:22

منذ 36 weeks45:22

45:22

Carla Penn-Kahn shares her experience in the e-commerce space, from working in investments at Credit Suisse to starting her own e-commerce businesses. She discusses the challenges of launching perishables by delivery when delivery was primarily for letters, and the operational complexities involved. The conversation then shifts to the importance of financial operations and unit economics in e-commerce, with a focus on the changing landscape of paid media and the need for strong financial operators. Carla also emphasizes the significance of product selection and category in determining lifetime value and the challenges of building customer loyalty. The discussion concludes with insights on tracking metrics, including contribution margin, and the importance of balancing cash flow and fixed costs. ProfitPeak aims to be a true enterprise resource planning tool for e-commerce operators, providing a central core for understanding financials, inventory management, and advertising impact. It offers a single customer view and focuses on profitability rather than just revenue. Common pricing mistakes include not considering future discounts, setting prices too high or too low, and discounting the entire product range. When it comes to marketing, a normal MER target is around 30% of revenue, while spending 40-50% on marketing is considered a danger zone. It's important to allocate marketing budget to both new and returning customers, but the emphasis may vary depending on the brand's goals. Discounting should be strategic, with a focus on profit contribution and limited to three to four times a year. Profitability is challenging because many brands lack control over advertising and marketing expenses and fail to track and leverage contribution margin dollars. Takeaways The operational complexities of launching perishables by delivery in the early days of e-commerce The importance of financial operations and unit economics in e-commerce The significance of product selection and category in determining lifetime value The challenges of building customer loyalty in a crowded market The importance of tracking metrics, such as contribution margin, and balancing cash flow and fixed costs ProfitPeak aims to provide a centralized platform for e-commerce operators to manage financials, inventory, and advertising impact. Common pricing mistakes include not considering future discounts, setting prices too high or too low, and discounting the entire product range. A normal MER target is around 30% of revenue, while spending 40-50% on marketing is considered a danger zone. Marketing budget should be allocated to both new and returning customers, with a focus on acquiring new customers for most brands. Discounting should be strategic, limited to three to four times a year, and focused on profit contribution. Profitability is challenging due to lack of control over advertising expenses and failure to track and leverage contribution margin dollars. Chapters 00:00 Introduction and Background 03:04 Operational Complexities of E-commerce 06:00 The Role of Financial Operations and Unit Economics 07:27 Challenges of Paid Media 14:21 Product Selection and Category: Determining Lifetime Value 23:06 Understanding Gross Profit and Contribution Margin 24:21 Avoiding Common Pricing Mistakes 26:21 Optimizing Marketing Budget Allocation 29:17 Analyzing Metrics for New and Returning Customers 34:55 Strategic Discounting for Profitability 38:06 Introducing ProfitPeak: A Comprehensive Solution 44:26 The Challenge of Achieving Profitability in E-commerce…

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When to Consider Outsourcing to a 3PL with Valentin Kuznetcov 32:23

منذ 37 weeks32:23

32:23

In this podcast episode, Nathan and Val discuss the topic of 3PLs (third-party logistics providers). They cover the factors to consider when deciding whether to use a 3PL, such as cost, volume, and customer service. They also explore the differences between in-house fulfillment and outsourcing to a 3PL, and the considerations for brands with low volume and high ticket products. Val provides insights into the 3PL landscape in Australia and the United States, and emphasizes the importance of conducting a cost-benefit analysis and asking the right questions when evaluating 3PL partners. Takeaways The decision to use a 3PL should be based on a cost-benefit analysis, considering factors such as current costs, order volume, and the level of service required. There is no one-size-fits-all solution when it comes to 3PLs. Each business needs to assess its own needs, resources, and goals to determine whether in-house fulfillment or outsourcing is the best option. The 3PL landscape varies by country, with the United States having a more mature market and a wider range of options compared to Australia. For brands with low volume and high ticket products, it may be necessary to negotiate with 3PL partners to find a cost-effective solution that meets their specific needs. When evaluating 3PL partners, it is important to consider factors such as employee turnover, infrastructure maintenance, and the ability to provide customized services. Having an open mind and being willing to explore different 3PL options can help businesses optimize their fulfillment operations and cut costs. Chapters 00:00 Introduction and Background 02:00 3PLs in Australia vs. Canada and the US 04:22 The Inflection Point: When to Consider Outsourcing 09:33 Cost-Benefit Analysis: Quantitative and Qualitative Factors 12:56 Considerations for Low Volume, High Ticket Brands…

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Q&A Answering Listeners Questions: LTV, Creative Testing & More 33:07

منذ 38 weeks33:07

33:07

In this episode, Nathan answers questions from listeners about budget allocation for retention, the growth of BlueSense Digital, the effectiveness of Advantage Plus, TikTok advertising, server-side tracking, and the importance of creative testing. He emphasises the importance of merchandising in driving lifetime value and suggests that technical competence is key to agency growth. He also provides insights into the volume of creative testing required for effective advertising. Takeaways Lifetime value is largely influenced by the merchandising and quality of the product, rather than marketing efforts alone. Technical competence is crucial for agency growth and success in the e-commerce industry. Advantage Plus can negatively impact profitability, but with proper structuring and understanding of its limitations, it can be made to work effectively. TikTok advertising requires a high volume of creative content and may be more suitable for enterprise brands. Server-side tracking can improve tracking accuracy, but its incremental value may be limited. Small creative tests may not yield statistically relevant results, and it's important to focus on new, innovative ideas rather than minor variations. The volume of creative testing required for effective advertising can be much higher than expected, especially as ad spend increases. Chapters 00:00 Introduction 01:17 The Impact of Merchandising on Lifetime Value 15:35 Making Advantage Plus Work for Profitability 20:05 The Limitations of Server-Side Tracking 26:49 Moving Beyond Small Creative Tests 30:09 The Volume of Creative Testing Required for Effective Advertising 32:37 Conclusion…

1
How to Align Google & Meta Ads With Your Business Goals 36:16

منذ 39 weeks36:16

36:16

In this episode, Nathan discusses how to align Google and Meta campaign builds with business and financial goals. He emphasises the importance of understanding the incentive structure of big tech advertising platforms, which is to maximise advertiser revenue. He also highlights the complexity of customer journeys and the need to allocate budgets strategically. Nathan shares insights on SOP creation, emphasising the importance of data-backed SOPs and having a mental model that explains why. He provides specific strategies for Google and Facebook campaign optimisation and emphasises the correlation between performance and top-line revenue. Takeaways Aligning ad campaign builds with business goals is crucial for maximizing profitability and scaling. Understanding the incentive structure of big tech advertising platforms is essential for effective ad campaign management. Customer journeys are complex, untrackable, and require a deep understanding for efficient ad campaign optimization. SOPs may not be suitable for high-performing teams due to the constraints they impose on competent individuals. Values and fundamental understandings of ad platforms play a significant role in decision-making and campaign optimization. Understanding the customer journey is crucial for effective digital marketing. Strategic testing and budget scaling are essential for maximizing ad spend. New customer acquisition plays a significant role in determining the success of ad campaigns. Attribution models and budget allocation require careful consideration and testing. Chapters 00:00 Introduction: Aligning Campaign Builds with Business and Financial Goals 05:24 The Complexity of Customer Journeys and Strategic Budget Allocation 12:12 Creating Data-Backed SOPs with Clear Mental Models 21:05 Optimising Facebook Campaigns for Success 27:28 Correlating Performance with Top-Line Revenue…

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How to Scale An eCommerce Brand to $100k per Month 1:00:03

منذ 40 weeks1:00:03

1:00:03

In this episode, Nathan shares his advice for ecommerce brands aiming to reach $100k a month. He covers the fundamentals of scaling, customer acquisition, resource allocation, and the benefits of being under $100k per month. Nathan emphasises the importance of understanding the business equation, effective resource allocation, and the role of creative in scaling. He also discusses the misconceptions around return on ad spend and the significance of tracking CAC and first purchase contribution margin. In this conversation, Nathan shares valuable insights on scaling an e-commerce business to 100K a month. He discusses key metrics, common mistakes, and actionable strategies for growth. He emphasises the importance of customer acquisition, maximising first purchase profitability, and efficient resource allocation. Nathan also provides real-life case studies and addresses the mindset required for business scalability. Takeaways Understanding the business equation is crucial for driving profitability. Effective resource allocation is key to overcoming growth bottlenecks. The role of creative in scaling and the cost associated with it. Misconceptions around return on ad spend and the significance of tracking CAC and first purchase contribution margin. Customer acquisition is the key focus for scaling an e-commerce business. Maximizing profit on the first purchase is crucial for sustainable growth. Efficient resource allocation and skill acquisition are essential for business scalability. The mindset of a small business owner can limit the potential for growth. Real-life case studies demonstrate the impact of strategic marketing and financial operations on revenue growth. Chapters 00:00 Fundamentals of Scaling to $100k a Month 04:18 Effective Resource Allocation for Growth 30:25 Misconceptions Around Return on Ad Spend and Tracking CAC 32:25 Strategies for Scaling an E-commerce Business to 100K a Month 43:43 The Importance of Customer Acquisition and Profit Maximization 50:31 Efficient Resource Allocation and Skill Acquisition for Scalability 54:19 Overcoming the Small Business Owner Mindset 56:53 Real-Life Case Studies: Impact of Strategic Marketing and Financial Operations…

1
Mastering Google Ads in 2024 with Michael Nadalin 47:23

منذ 41 weeks47:23

47:23

In this episode, Nathan interviews Michael Nadalin, the founder of Market Lead, a niche Google Ads agency in Australia. They discuss Michael's background and the growth of his agency, as well as the importance of expanding scope beyond Google Ads. They also delve into the effectiveness of Google's Performance Max campaign type and the challenges of being a Google media buyer in today's evolving landscape. The conversation covers various topics related to account management, client communication, understanding business goals, and the importance of financial knowledge in marketing. Follow Michael on LinkedIn Here: https://www.linkedin.com/in/michaelnadalin/ Follow Michael on Youtube Here: https://www.youtube.com/@MarketLead Takeaways - Building a successful agency is based on word-of-mouth referrals and delivering high-quality work. - Expanding services beyond Google Ads, such as lead generation and consulting, can provide more value to clients and drive business growth. - The success of Google's Performance Max campaign type depends on proper execution and understanding of strategy. - Being a Google media buyer requires skills in tracking data, client communication, strategy, and data analytics. - Google Ads is no longer just a standalone service, but part of a larger ecosystem that includes other platforms and services. Account management is crucial in understanding clients' business goals and aligning strategies with those goals. - Conversion tracking is essential for optimizing ad campaigns and making data-driven decisions. - Financial knowledge is important for marketers to understand the economics of the business and make informed decisions. - Attribution in marketing is challenging and should be used as a guiding force rather than a source of truth. - Small and medium-sized agencies should focus on niche markets and work closely with clients to provide value beyond basic keyword optimisation. E-commerce brands should prioritise feed management and work with reputable agencies to optimise their Google Ads campaigns. Understanding the unit economics of a business is vital for scaling and ensuring profitability. Knowledge and skills are valuable assets that can lead to success and opportunities in the business world. Chapters 00:00 Introduction and Background 08:13 The Power of Performance Max 25:58 Account Management and Client Communication 29:23 The Role of Financial Knowledge 31:47 The Challenges of Attribution 35:57 Advice for Small and Medium-Sized Agencies 39:27 Advice for E-commerce Brands 41:20 Understanding Unit Economics 42:27 The Value of Knowledge and Skills…

1
The State of eCommerce in 2024 with Brendan Gillen 45:02

منذ 42 weeks45:02

45:02

In this episode, Nathan interviews Brendan Gillen, an e-commerce expert and founder of Fight Gear Direct and the e-Commerce Academy. They discuss the performance of e-commerce in 2024 and the importance of innovation and adaptation in the industry. The conversation highlights the need for e-commerce operators to understand their numbers, focus on profitability, and find ways to increase average order value. The conversation covers topics such as branding, measuring success, customer acquisition and retention, and the use of AI in e-commerce. Engage and follow Brendan here: Youtube: https://www.youtube.com/@theecomacademy Ecom Academy: https://ecomacademy.co/ Facebook: https://www.facebook.com/brendan.gillen Instagram: https://www.instagram.com/brendangillen/ TikTok: https://www.tiktok.com/@theecomcoach Takeaways E-commerce operators need to continually innovate and adapt to stay ahead in the industry. The performance of e-commerce in 2024 has been mixed, with some brands experiencing record growth and others struggling. Retailing can be challenging due to the lack of control over the supply chain and the need to differentiate from competitors. Understanding numbers and focusing on profitability is crucial for e-commerce success. Branding can provide pricing power and higher margins for e-commerce brands. Increasing average order value through add-ons and upsells can boost profitability. Branding is about positioning your brand in a certain market to attract a specific audience. Measuring success for each part of the business is crucial, and every role within the business should have a specific outcome that contributes to overall sales. Attribution in advertising is becoming more challenging due to privacy policies and changes in technology. Personalisation and the use of AI can enhance customer engagement and improve marketing strategies. Focus and consistency are key to achieving long-term success in e-commerce. Chapters 00:00 Introduction and Background 01:19 Performance of E-commerce in 2024 05:31 Challenges and Benefits of Retailing 07:31 Understanding Numbers and Focusing on Profitability 10:46 The Power of Branding in Pricing 12:46 Increasing Average Order Value for Higher Profitability 25:20 Measuring Success for Each Part of the Business 28:48 The Challenge of Attribution in Advertising 30:59 The Value of Personalization and AI in Customer Engagement 36:58 The Significance of Focus and Consistency in E-commerce…

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