By Yaron Been
5
55 ratings
The podcast currently has 104 episodes available.
Join host Yaron Been as he interviews Daniel Yerushalmi, a diamond industry expert who ventured into the world of pawn shops. Daniel (CEO of P2M.AI) shares his journey, insights, and debunks misconceptions about the pawn industry, emphasizing the value of other people's money (OPM) and leveraging resources for business growth.
Listeners will discover:
Daniel's fascinating journey from diamond dealing to developing an app for pawnbrokers and ultimately helping them overcome working capital challenges.
Two common misconceptions about working with OPM: fear of being perceived as debt-ridden and the belief that using your own money yields greater profits.
How pawnbrokers address working capital limitations, including using OPM to free up their own capital for diversification, investments, and personal goals.
The importance of LTV (Loan-to-Value) in the pawn industry and how it protects both pawnbrokers and clients.
Valuable insights from the pawn industry that are applicable to other businesses, particularly those in e-commerce.
The social impact of pawn shops, particularly in serving individuals with low or no credit scores, highlighting their importance in the American economy.
This podcast will challenge your preconceived notions about pawn shops and equip you with valuable financial strategies for your own business growth.
Links and Resources:
Learn more about P2M.Ai
In this episode Hal Smith and Yaron Been delve into the world of direct response advertising and explore the strategies and techniques used to optimize ad campaigns for maximum effectiveness. Hal Smith an experienced digital advertiser with a background in both politics and performance advertising, shares insights into the principles that drive successful campaigns and discusses the importance of testing and iteration in the direct-to-consumer space.
Key Main Takeaways:
The Power of Testing.
Hal emphasizes the critical role of testing in direct response advertising, drawing parallels between political fundraising and consumer product marketing. Just as different voter groups respond to different messages, different audience cohorts are motivated to buy products for different reasons. By testing various ad iterations and messaging strategies, advertisers can identify what resonates best with their target audience and optimize their campaigns accordingly.
Scale of Testing.
One key lesson Hal learned from the political space is the scale of testing required to achieve meaningful results. While many e-commerce advertisers may test only a few ads per month, we advocate for a much higher volume of testing, drawing on his experience of testing hundreds of thousands of ad iterations per month in the political arena. This scale allows advertisers to identify winning concepts more quickly and iterate or scale their campaigns accordingly.
Testing Framework.
Rather than traditional A/B testing, Hal Smith describes a framework of assumptions used to guide testing efforts. These assumptions are based on psychological triggers such as social proof, authority, and urgency, and are tested by running ads with different messaging approaches concurrently. By generating a wide range of assumptions and testing them simultaneously, advertisers can identify which triggers resonate most with their audience and optimize their messaging accordingly.
Dynamic Creative Testing.
Dynamic ads can be used to test multiple messaging hooks programmatically. By leveraging dynamic ad formats, advertisers can test up to 10 static images and five videos simultaneously, allowing for efficient testing of different messaging approaches without the need for extensive creative production.
Navigating Platform Restrictions:
As advertising platforms impose increasingly stringent restrictions, advertisers must find creative ways to navigate these limitations while still delivering effective messaging. It is important to work closely with platform representatives to navigate restrictions and leverage additional benefits available to high-spending advertisers. Additionally, Hal suggests focusing on visually compelling content and finding ways to communicate messaging indirectly to overcome platform restrictions.
Direct response advertising is an ever-evolving field that requires constant testing, iteration, and adaptation. By leveraging the principles and strategies discussed in this episode, advertisers can optimize their ad campaigns for maximum effectiveness and drive better results for their brands. Whether testing different messaging approaches, navigating platform restrictions, or leveraging the expertise of agencies, the key takeaway is clear: success in direct response advertising requires a commitment to testing and optimization.
Links and Resources:
1.Connect with Hal Smith.
2. The EcomXFactor YouTube Channel.
3. The EcomXFactor Community.
Wayne Richard, the Chief Operating Officer at Bean Ninjas joins Yaron Been to help e-commerce entrepreneurs leverage financial data for business success.
Bean Ninjas, is a leading accounting firm that supports e-commerce entrepreneurs to achieve financial independence. Whether you're a seasoned entrepreneur or just starting out, understanding the ins and outs of e-commerce finances is essential for sustainable growth and profitability. Join in as we demystify the complexities of financial management and equip you with the knowledge and tools you need to navigate the ever-changing landscape of online retail.
In this episode we cover:
1. Importance of Financial Data Confidence.
2. Managing Financial Economics.
3. Cahflow Management Strategies.
4. Importance of Cashflow and Forecasting.
5. Leveraging Resources for E-commerce Business Growth.
Links and Resources
In the landscape of marketing, there exists a distinct approach that stands out – the fearless marketer. This unique approach navigates the intricate world of emotions, understanding that the human experience is driven not solely by facts and figures but by the profound influence of emotions. In this episode Randy Crane and Yaron Been share insights on the essence of fearless marketing and strategies that make it a powerful force in the sales world.
Key Highlights:
Resources and Links:
Achieving peak performance in our daily lives is a common goal, and one often overlooked aspect that can significantly impact our performance is sleep. In this episode, we hear from Riley Jarvis,a sleep expert at The Sleep Consultant. He uncovers actionable tips for optimizing sleep and overall well-being.
During a night's sleep, the body undergoes distinct phases, two of which play crucial roles in rejuvenation – REM (Rapid Eye Movement) sleep and deep sleep. REM sleep, characterized by vivid dreams and rapid eye movements, is associated with memory consolidation, emotional regulation, and learning. It stimulates creativity and problem-solving, making it an essential component of cognitive function. On the other hand, deep sleep, also known as slow-wave sleep, is the time when the body experiences physical restoration. It promotes muscle recovery, immune system strengthening, and the release of growth hormones. Both REM and deep sleep are integral for overall well-being, and understanding their significance contributes to developing effective sleep strategies for optimal health and performance.
Episode Highlights:
Resources and Links:
1. Connect with Riley Jarvis on LinkedIn
2.Connect with Riley Jarvis on Facebook
3.The Sleep Consultant Website.
4.The EcomXFactor YouTube Channel.
5.The EcomXFactor Facebook Community
6.The Oura Ring
7.Twilight Classics Light-Blocking Glasses
Wayne Mullins, the founder of Ugly Mug Marketing in Louisiana, an SEO agency is a testament to the possibility of building a global business in a tight-knit community. In this podcast episode Wayne shares valuable insights into creating a remarkable team focusing on aspects such as the hiring process, aligning values, team autonomy and accountability through coaching and leadership.
Episode Highlights
1. The Strategic Hiring Process
2. Streamlining Forces: Alignment and Autonomy.
3. Igniting Growth Catalysts: Coaching & Accountability.
4. Leadership Evolution .
5. The Foundations for Success.
Links and Resources:
Today, brands are not only built on the quality of products and efficiency of services but also on the collective echoes of customer feedback. In this episode Leila Kairns, the co-founder of The HealTea takes us through her experience in this evolving landscape of customer-centric ecommerce.
Episode Highlights
1. Customer Interviews & Usability Testing.
2. Sustainability for Brand and Consumer Values.
3. Navigating tht B2B and B2C Landscape.
4. Balancing Direct Response and Brand Awareness Marketing.
5. The Future of Ecommerce.
Links and Resources
In this episode Llyod Thompson, a seasoned expert in operations shares the complexities of enhancing efficiency in e-commerce businesses. Lloyd, Director of Operations for a fractional agency teaches streamlining operations and maximizing productivity. Lloyd's journey into operations began with his technical background and leadership experience in the corporate world . His passion for remote work and a desire to escape the traditional office setting led him to establish VirtualD-O-O. Virtual D-O-O is a fractional operations agency that helps business owners in breaking free from day-to-day operations.
Episode Highlights
Resources and Links
In this episode, Yaron interviews Marco Torres, one of the co-founders of Marketing Boost, discussing innovative strategies to increase revenue without resorting to discounts. Marco shares his journey from being an early adopter in internet marketing since 1996 to the launch of Marketing Boost in 2017.
Marketing Boost stands out by offering unique travel incentives, such as complimentary hotel stays, hotels savings cards, and restuarant vouchers. Marco highlights the win-win dynamic of the platform, benefiting businesses, consumers, and hotels. He emphasizes the flexibility and creativity businesses have in using these incentives for lead generation, customer retention and even reputation management.
This episode also delves into the evolution of online businesses and how the landscape has changed since Marco's early days. Despite, increased competition, Marco highlights the advantages entrepreneurs have today with advanced technology, affordable CRMs and accessible learning resources.
Marco also sheds light on the practical applications of Marketing Boost for e-commerce businesses. He explains how businesses can use incentives to boost customer loyalty, drive repeat purchases, and even resolve customer service issues.
You can visit Marketing Boost's website and join their Facebook Group for a freemium experience. The freemium version offered by Marketing Boost allows businesses to explore the platform's potential without any financial commitment initially. Entrepreneurs too should leverage Marketing Boost's unique incentives to enhance their business strategies.
Resources and Links:
In this episode we explore the world of Pinterest and it's impact on the e-commerce. Lauren Petrullo,an expert in digital marketing and e-commerce joins us to share valuable insights and experiences in navigating the Pinterest landscape to elevate your brand's visibility and drive sales.
Lauren is the CEO of Moongose Media LLC, and also the founder of Asian Beauty Essentials, Chief Marketing Officer at Beau &Belle Littles, and co-founder of Bot Blondes.
Highlights:
Pinterest as a Search Engine:
Pinterest has users actively seeking solutions hence has a demand in products that would help customers in discovering solutions.
Pinterest Advertising:
Pinterest has lower CPMS compared to Facebook hence a good fit for direct response ads. Pinterest also allows for salesy content and without having to navigate certain restrictions. Lauren also explains the importance of aligning creative content with seasonal trends.
Social Commerce Insights:
Lauren explains how segmenting Pinterest audiences and brands plays a pivotal role in shaping the online shopping experiences. Leveraging visual trends also highly influences online shopping behaviors.
Links and Resources
The podcast currently has 104 episodes available.