The Scale Your Agency Podcast | Bright Ideas

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Episode Highlights   [2:53] — A brief background on Dan and Sales Schema

• Dan is the CEO and founder of Sales Schema.
  
  
• Sales Schema is a fractional new business team for agencies, marketing services companies, as well as other B2B service companies for lead generation.
  
  
• Their company has a forthcoming data product.
  
  
• The biggest challenge their sales team encounters is gaining the trust of their clients for referral marketing.
  
  
• Daniel's strategic approach to referral marketing starts with an account-based foundation, listing quality leads for a specific campaign.
  
  

[6:04] — How does Dan create an account-based list?

• Lead generation involves a back-and-forth communication process with clients.
  
  
• They source data from different channels.
  
  
• After compiling a list of companies, it will require the approval of their clients.
  
  
• Their clients may either opt to work with brands that are industry-specific or be open to collaborating with any consumer brand.
  
  
• The list is mainly effective for most mid to large companies.
  
  

[8:07] — Leveraging your network to connect with the accounts in your list

• Come up with a list of accounts related to the market you want to enter.
  
  
• Assess your current network/contacts in the industry you are pursuing. Export a list of these LinkedIn (or other sources available) contacts.
  
  
• Refine the list by finding connections between your contacts and the accounts you’ve approved.
  
  
• Connect with your contacts, offer value from your end, and request for an introduction to the accounts.
  
  

[12:11] — The key points of lead generation

• Lead generation requires work and communication with your potential network.
  
  
• Obtaining an introduction from your network grants you a more assessed and focused list of valuable connections.
  
  
• The connections might drive you to other unexplored opportunities.
  
  
• The biggest challenge is building that trust factor.
  
  

[15:00] — Tips to get referrals for the DIYs

• Start with Flowster and consider the fine line between personalization and scale in referral marketing.
  
  
• For large companies, you can try the carpet bombing tactic for lead generation.
  
  
• If your clients are similar to Daniel’s, starting with an account-based list is ideal.
  
  
• Sales Navigator helps to find clients that are industry-specific.
  
  

[17:28] — What are the biggest mistakes people make in their referral marketing program?

• Backloading the work
  
  
• Spamming your campaign instead of promoting valuable content for people
  
  
• To obtain connections effectively, you need to understand the fine line between personalization and scale.
  
  
• Budgeting the right amount of time and optimizing the sales process are other essential elements in achieving a ranked outreach.
  
  

[19:25] — Helpful tools to systemize referrals

• For DIYs, using Sales Navigator is a good start.
  
  
• The other tools that he finds effective for sales reps are Reply.io, Streak, and GMass. Different people have their own preferences when it comes to customer relationship management tools and their efficacy.
  
  

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Episode Highlights   [2:24] — Norm introduces himself 

• Also known as "the Beard Guy," Norm started in 2013 and went to an Amazon Amazing Selling Machine conference.
  
  
• Those who got into Amazon got money easily using simple steps.
  
  
• If he didn’t have resilience, he never would’ve made it.
  
  
• Amazon has changed greatly over the years, so he expanded on what he learned into other markets.
  
  
• Currently, Norm is not just a seller but also a brand owner, business owner, and podcaster.
  
  

[5:57] — Processes and delegation 

• Attending Michael Gerber’s EMyth Academy, he’s taught to be automated and scalable.
  
  
• If it's repeatable, there’s a process.
  
  
• Going through a problematic process caused negativity in the office. However, their 5-page policy streamlined everything.
  
  
• Norm delegates everything so he can grow other businesses.
  
  

[10:11] — Creating your brand

• You can use Amazon Posts, Live, and Brand Story to create a customer experience and build a brand community.
  
  
• In choosing a brand name, you could send out names and descriptions to companies (e.g. PickFu). Doing this gives you access to an inexpensive focus group to assess them.
  
  
• Get a graphic artist that understands corporate identity to create a good logo.
  
  
• Check if your domain name is available on social media.
  
  

[14:49] — The power of packaging 

• Increase the perceived value of your product by spending a little more on the packaging.
  
  
• Good packaging can hook customers and drive them over for warranty registration or subscription, leading to more traffic for your brand.
  
  
• Consider outer packaging by unveiling the product, including a welcome message, etc.
  
  
• Be distinctive in your packaging if you can.
  
  
• Buy your own products to maintain quality assurance.
  
  

[22:56] — Product innovation

• Do a proper competitive analysis for your products.
  
  
• By checking product reviews, you can determine what people like and dislike about a product and improve upon them by changing the materials, color, etc.
  
  
• Get ideas for product innovation on artsy websites.
  
  
• Search the keyword, find out what the average product looks like, and be different.
  
  
• Innovation can be expensive.
  
  

[32:03] — Getting a graphic of your product

• Spend the proper amount on your product.
  
  
• It's okay to experiment and fail in the first product, then put in the time and money into your second product. Use what you learned from the first try.
  
  
• A graphic artist and a photographer can work together to bring out the best in a picture and increase your product’s perceived value.
  
  
• Standard packaging has legal requirements, but you don't need to use the same label for your product shot; you need to represent your product effectively.
  
  
• Tune in to the full episode to find out the people you need to hire and their usual rates!
  
  

[39:16] — Growing your perception

• Hire a product photographer that does 3D rendering and a graphic artist.
  
  
• The usual rates for product photographers are $500 to $1,250 as you'll need both an infographic and a product image.
  
  
• Find nano-influencers to promote your product, grow your perception, and help increase your perceived value.
  
  
• Consistency and authority are necessary to earn trust and make sales.
  
  
• Expand your network and form partnerships.
  
  

[49:22] — Doing the little things 

• Small things, like writing a letter or using a different imprint, increase the perceived value of your product.
  
  
• Take a look at your competitors and make those little changes.
  
  

   

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Episode Highlights   [0:36] — Creating a Podcast

• Part of the challenges in podcasting is having insufficient downloads, leads, and social engagement.
  
  
• Podcasters sometimes have difficulty in publishing content consistently.
  
  
• However, you will be perceived as an authoritative figure within your niche when you overcome these challenges.
  
  
• Creating valuable relationships could open up more lucrative opportunities.
  
  

 

[1:19] — Podcast Mistake #1: Disregarding Editorial Calendar

• It's ideal to plan your content in advance. 
  
  
• You'd always want to ensure that the episodes support your monetization initiatives for premium content. 
  
  

 

[2:06] — Podcast Mistake #2: Inconsistent Publishing of Content

• Your audience will start tuning out if you don’t publish content regularly.
  
  
• Scheduling your pre-production process ensures that your content is regularly produced.
  
  

 

[2:56] — Podcast Mistake #3: Not Niche Specific

• We have a habit of wanting to include and appeal to everyone; this makes us a generalist.
  
  
• Being a generalist is equivalent to failing to be of interest to anyone.
  
  
• It is critical that your content targets a specific demographic.
  
  
• Appealing to a target audience encourages podcast monetization and podcast sponsorship.
  
  

 

[4:52] — Podcast Mistake #4: Doing Audio-only Podcasts

• We should leverage YouTube because it can offer a large source of traffic for your podcasts.
  
  
• Trent entrusts his editor to format his podcast that caters to different social media platforms, including YouTube. 
  
  

 

[5:32] — Podcast Mistake #5: Relying on Social Media Promotion

• Depending solely on social media will only give you exposure to existing followers.
  
  
• Guesting in other podcast channels could expand your audience size.
  
  
• Social media ads aren't the most effective method for growing your show.
  
  
• YouTube is a beneficial tool for you to increase the reach of your videos.
  
  

 

[5:32] — Podcast Mistake #6: Not Repurposing Content

• Learn how to increase your social engagement with Social Media Video Content Engine
  
  
• You can retrieve multiple social media posts from one single episode.
  
  

 

[8:59] — Trent’s Biggest Secret

• For him, podcasting is the best networking tool on planet Earth.
  
  
• To collaborate with desired guests, the line, “I would love to have you on my show” is exemplary compared to, “Can I have an hour of free advice?”
  
  

   

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Episode Highlights   [1:07] — The Benefits of Hiring a Virtual Assistant

• VAs are the single greatest addition to Trent's business arsenal.
  
  
• Significantly increases productivity at an affordable cost.
  
  

[1:32] — Costs of Hiring a Virtual Assistant

• Trent typically hires most virtual assistants from the Philippines, while his personal assistant is from Mexico.
  
  
• You can hire a Filipino virtual assistant for around $4 an hour. Trent’s executive assistant in Mexico gets paid about $6 an hour.
  
  
• Aside from being less expensive, it also saves costs from providing healthcare benefits.
  
  
• An hour-to-hour basis allows you to terminate them without hassle when they don't perform.
  
  

[2:22] — The Role of a Virtual Assistant

• Allows you to focus on more critical tasks instead of $10 an hour jobs.
  
  
• You can hire a general VA for all the tasks you don't want to do. Hiring a specialized VA can help you with specific tasks like project management and content creation.
  
  
• Accomplish a collection of tasks that do not require experience. Some examples of these tasks are:
  
  
• Making phone calls and contacting venture partners and clients.
  
  
• Doing first-level research tasks and project management.
  
  
• Order management.
  
  
• Create content, graphic design, digital marketing, social media management, and email management.
  
  

[5:22] — Where and How to Hire a Virtual Assistant

• Trent typically hires from the Philippines and Mexico. He hires VAs from Mexico to be in the same timezone as them.
  
  
• The best places to find virtual assistants are Upwork and OnlineJobs.ph.
  
  
• Make sure to put a unique code in the job description that you want applicants to put in their application. It will allow you to filter out qualified candidates more quickly.
  
  

[8:23] — The Applicant Screening Process

• Trent's wife handles the hiring process of all their VAs.
  
  
• They have them complete a test task to filter out applicants who will do a good job.
  
  
• Test tasks are usually one to two-hour jobs. But instead, they tell them it could take up to eight hours and that they will get paid by the rate.
  
  
• The test task works as a trial run to find out who among the candidates does the job most efficiently.
  
  

[9:49] — Common Mistakes When Hiring a Virtual Assistant

• They don't put a code word in their job posting.
  
  
• They do traditional interviews instead of straightforward project-based interviews.
  
  
• There's no clearly-defined process and instruction documentation in place for the virtual assistant to follow.
  
  
• They set unrealistic expectations far from what they have to offer.
  
  
• Tune in to the full episode to learn more about why people struggle when hiring VAs! Make sure to get your SOP template from Flowster SOP Template Marketplace.
  
  

   

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Episode Highlights   [4:38] — Joe’s Journey in Content Marketing 

• Joe has been in the content marketing industry for over 20 years.
  
  
• They popularized the term "content marketing" and held the largest content marketing event in Cleveland, Ohio, with 4,000 attendees.
  
  
• After leaving the business in 2016 with his wife, he wrote books on content marketing and a novel called The Will to Die.
  
  
• He has started a new business called The Tilt, which focuses on helping small content creators learn to build a business using a "content first" mentality.
  
  
• He dabbled with business models, such as Web 3 and NFTs, that didn’t exist before.
  
  

[6:32] — What is an NFT? (Non Fungible Token)

• After getting into crypto and discovering NFTs in 2020, Joe realized that content creators could build their own mini economy. He then launched Tilt Coin.
  
  
• A fungible token is primarily for trading dollars; conversely, non-fungible tokens (NFTs) are unique, and have an underlying contract.
  
  
• Listen to the full episode to find out how one of a kind NFTs allow creators to set the rules for what happens when the tokens are bought and sold online and give their audience access to unique experiences!
  
  

[12:54] — Leveraging the Scarcity Element of NFTs

• Joe mentions that he learned a lot from the Gary Vee model.
  
  
• Gary Vaynerchuk was a huge content creator but was still subject to the whims of more centralized platforms, so he created 10,255 individual NFTs called VeeFriends.
  
  
• NFTs consisted of his art, and each digital artwork had different access points and perks, such as exclusive mail and different levels of admission for his VeeCon.
  
  
• You don't need a large audience. The NFT market is limited; you can provide premium access to your audience regardless of size while also controlling your own business model.
  
  
• Fans also get the chance to own something from the creator and resell it.
  
  

[17:05] —  The Benefits of NFTs for Creators and Fans

• If an event becomes successful, the pricing for NFTs could go up. The creator will benefit, being the IP owner.
  
  
• With The Tilt, they created Tilt Coin and set membership levels by the number of Tilt Coins someone had.
  
  
• Among the perks that come with the Tilt Coins are VIP access to ask Joe questions and monthly content drops.
  
  
• Launching at 36 cents in March 2021, Tilt Coins are currently priced at $53, which shows that the people who invested are satisfied with it.
  
  

[18:42] — How to Create an FT or NFT 

• For social tokens, it helps to find an organization that can show you how to do it, or you can look for a contractor or technologist to do it for you.
  
  
• The Tilt worked with rally.io to set up the whole thing on the blockchain as a side chain of their own Genesis coin.
  
  
• Other organizations you could check out are Roll and Coinvise.
  
  
• Outsourcing the creation of NFTs by finding foundations to help you set up underlying contracts and deciding on the royalties would be helpful.
  
  

[22:05] — The Downsides of NFTs

• In 2017, initial coin offering (ICO) boomed, and many shell companies would pump up their prices and leave everyone hanging.
  
  
• While it’s possible to dump Tilt Coins, it would ruin his reputation. It’s not about getting rich quickly but building an economy.
  
  
• Two people recently created Squid Coin based on Netflix’s Squid Game, which went up around 5,000%, and the creators made millions before disappearing.
  
  
• Do your homework before investing in any social tokens.
  
  

[26:42] — Resources for Studying NFTs 

• The Bankless Podcast had an episode with Chris Dixon where he discusses NFTs and paints a picture about why he thinks the future will be tokenized and decentralized.
  
  
• Tim Ferriss’ podcast had a more than 2-hour talk with Chris Dixon about NFTs.
  
  
• Another one would be Tom Bilyeu’s Impact Theory episode about the gold standard, the usage of dollars, and the transition to Bitcoin.
  
  
• Some people might think non fungible tokens are a scam, especially in the digital art world. However, you'll find value in its scarcity element and asset inflation as you learn more about it.
  
  
• The future is exciting because new business models are emerging.
  
  

[30:15] — Get Started Owning NFTs

• It's hard for someone to understand what they’re talking about unless they try it.
  
  
• Try getting a digital wallet by going to MetaMask.
  
  
• You'll need Coinbase to buy $50 worth of Ethereum and deposit it into your MetaMask account.
  
  
• After that, find some NFTs worth $5 and buy it regardless of whether you’ll lose it.
  
  
• This gives you a taste of NFTs. You can figure out if you want to explore it or continue living in the banking world through experimentation.
  
  

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Episode Highlights

[2:57] — Brad Introduces OutLoud Group and Influencer Marketing 

• Brad is the Chief Growth Officer at OutLoud Group, a 60-person influencer marketing agency.
  
  
• Brands can use influencer campaigns to grow their revenue.
  
  
• Social media influencers can be tapped as third-party endorsements because their audience trusts them.
  
  

[7:56] — The Who Of Influencer Marketing

• Running an influencer campaign is not for everyone.
  
  
• Influencer marketing campaigns are not great for commoditized products, but they work best for B2C brands and those with a story to tell.
  
  
• Brands should make sure to pick influencer types that are either a good brand fit or adjacently related to their brand.
  
  

[15:10] — How To Structure A Deal With Influencers 

• Smaller creators are generally easier to reach since they usually don't work with managers or agents yet.
  
  
• Brad observed that some creators are more reliable.
  
  
• He also recommends starting with an initial test with influencers before committing to a long-term deal.
  
  
• Most influencers will protect themselves by asking for a flat fee regardless of the campaign’s success.
  
  

[20:42] — KPIs To Watch In Influencer Marketing Campaigns 

• Brad recommends observing CPM by the increase of traffic to your website.
  
  
• Different creators and their platforms will have different CPMs.
  
  
• The subscriber and follower count is only a vanity metric — it may contain fake followers and cannot assure conversions, potential customers, or traffic.
  
  
• Brad recommends starting with a minimum of 5 creators first.
  
  

[27:48] — What Can Go Wrong With Your Influencer Marketing Campaigns 

• Don't force influencers to use a script of brand voice and marketing buzzwords.
  
  
• Let them do their own thing since they know what will resonate with their audience the most.
  
  
• Don't negotiate for the lowest price. Remember that influencers’ work will be affected by how much they feel valued.
  
  

[31:44] — Brad Shares How The OutLoud Group Grew 

• Brad shares that their agency started with a family model. However, as the agency grew, they had to adopt a pro-sports team kind of model.
  
  
• The agency's main principle is to have clear goals and bring out the best in people.
  
  

[36:55] — Where To Automate Or Humanize 

• As their agency grew, the business became more complex. At this point, they implemented Salesforce.
  
  
• Brad shares that their agency prides itself on customer service rather than automation.
  
  
• The agency automates its contracting and execution. However, they keep their humanized communications with different influencers and clients.
  
  
• There is no one-size-fits-all when it comes to brands and influencers. So the agency’s SOPs evolve over time.
  
  
• The core of their SOP is the willingness to change.
  
  

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Episode Highlights   [02:35] — Andrew introduces Marknology

• Seven years ago, Andrew founded Marknology, a company that helps brands evolve and compete in the Amazon accelerator.
  
  
• He started out freelancing on Upwork and Elance and eventually quit his day job to build his agency. Marknology has grown to a team of 25 through bootstrapping. 
  
  

[09:05] — What’s the difference between hourly billing and retainer?

• Andrew struggled with hourly billing since it put his interests at odds with his clients’. 
  
  
• This model also ties you to the belief that you must get paid for the hours you work.
  
  
• After many iterations, Marknology ended up with the retainer plus commission model. 
  
  
• Andrew found it advantageous, as he could count on the retainer to plan for hiring and scaling. 
  
  
• When the commission hits a certain level, the retainer falls off and from there, it’s just a straight retainer or a straight commission. 
  
  

[18:25] — Venturing into international markets

• Marknology is now big enough to handle the international market; In fact, they’re already in 13 different Amazon marketplaces around the world.
  
  
• One of Andrew's early wins was getting brands into a less saturated market.
  
  
• He advises paying attention to whatever Amazon's focus is, so you can leverage it and bring more value to your clients.
  
  

[20:39] — How to attract clients

• Content marketing and partnerships are Andrew’s bread and butter.
  
  
• He's created a YouTube channel, opened blogs and speaking events, and started a podcast as a trust-building effort to win over clients.
  
  

[24:41] — The advantages of creating content

• Explaining Amazon’s new releases from a commentator’s perspective is Andrew's strategy on YouTube content creation.
• Through that, he helped brands in a more casual rather than formal way.
• He wanted to talk about things that could help companies, such as SEO and tracking organic growth.
• People usually hear about him or watch his videos, leading them to connect with him.

[28:34] — Why Andrew hates hard selling

• Andrew hates the salesman’s approach to selling a product or service.
  
  
• He prefers building on his expertise in the field to reflect his credibility rather than convincing someone to hire him.
  
  

[33:03] — Challenges and solutions in running Marknology

• Cash flow isn’t an issue for them anymore, although it used to be a great challenge.
  
  
• People are both the best part and the hardest part because of needing to build relationships, communicate effectively, and be aligned in the workflow.
  
  
• Moreover, managing the team and continuously learning to be a leader has also been quite the challenge.
  
  
• Partnering with Flowster has helped him overcome those challenges.
  
  
• Albeit a new user, Andrew’s excited about partnering with Flowster to get more processes in place.
  
  

[36:18] — Andrew’s diverse team

• Andrew’s workers are distributed between Colombia, Kansas, Florida, and India.
  
  
• His workers in India are focused on data researching and SEO.
  
  
• Andrew is also looking into hiring from Romania because of the amazing branding of barbershops, restaurants, and small businesses.
  
  
• He finds that outsourcing talents from all over the world adds value to his business.
  
  

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Episode Highlights   [2:39] — Gainful’s humble beginnings

• Eric is the co-founder of Gainful, a CPG brand manufacturing personalized nutrition products. 
• During his undergrad years, Eric had always played sports but was intimidated by supplements.
• Not finding the products he wanted led him to mix his protein powder in his college dorm basement.

[6:33] — The concept of progress

• As an athlete, he always wanted to do better. This passion translated into his desire to create a better protein powder. 
• As a liberal arts graduate, he wasn’t knowledgeable about raising venture capital, setting up a business model, and other entrepreneurial skills.
• Yet his desire to make himself, the people, and the products around him better spurred him on.

[8:53] — Setting their business foundation

• Jahaan, Eric’s buddy, became excited about the idea of personalized nutrition. 
• His enthusiasm made Eric consider that there was a potential business in his personal experiment.
• Thus, they applied to accelerators and startup incubators. The progress and traction that they got with The Brandery got them into Y Combinator.
• Throughout their journey, they ran around gyms and conferences throughout their journey to hand out flyers and do some guerrilla marketing.

[13:35] — Knowing your customers

• It's important to figure out your brand identity, core values, and customer needs.
• Everyone who purchases a Gainful product needs to answer a five-minute quiz to help Eric’s team fulfill their needs.
• This quiz helped them figure out what makes them use the products that they love.

[18:58] — Getting a distribution network

• Eric soon realized that working night shifts and selling products online isn’t sustainable for growing a CPG brand.
• So, they found a production facility, hired a small staff, and employed a third-party logistics provider.
• Going from small circles to a distribution network is a crucial inflection point for CPG brands.
• Through that, Eric and Jahaan were able to focus more on tech, research, and innovation.

[21:03] — Scaling personalized products

• Figure out what’s important and what people want by doing it on a small scale.
• For two years, Eric and Jahaan mixed hundreds of protein powder blends by hand. By doing so, they found trends in customer conversion, retainment, and preferences.
• They waited for a specific amount of demand before going to a contract manufacturer.

[26:47] — Bringing value vs. paid marketing

• The days of building a big business off the back of paid marketing are long gone. However, it will always be important for any direct-to-consumer business.
• Gainful focuses more on its products and finding ways for customers to see their brand value in their daily lives.

[30:28] — Hiring people

• When hiring people, approaching each conversation with sincerity will help you be able to communicate better.
• It's also crucial to have strong advisors to lean on for reference calls or interviews.
• The most valuable thing for founders is being able to adapt and learn by doing.

[35:34] — Leveraging your core competencies

• It's necessary to do things that will bring you closer to the customer and understand how your internal processes work. 
• Gainful's key differentiator is personalization and making product categories better through this trait.
• Eric has been communicating that vision to potential partners, investors, and his team.

[39:58] — Evolving as a leader

• Setting brand values establishes Eric’s credibility to lead the company. 
• He also considers being present, proactive, teachable, and compassionate as good starting points for getting people to believe in their brand.
• Reading Emily Heyward’s book, listening to podcasts, and the Fitt Insider podcast’s newsletter have helped him evolve as a leader.

[45:33] — Dealing with impostor syndrome

• Eric is passionate about working with brilliant people, learning what makes customers tick, and bringing something valuable into the world.
• So when he doubts himself, he reminds himself that his job is still the best gig in the world.
• He also remembers the sacrifice his parents made to let him pursue his American dream with full freedom.
• He simply loves doing what he does every single day.
• If he feels down in the dumps, he clears his head through exercise and a good meal.

   

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Episode Highlights

[05:07] – John introduces himself

• John is the CEO and founder of Orca Pacific.
  
  
• His company has transitioned from a full-service agency focused on Amazon to global eCommerce.
  
  
• Orca Pacific has merged with global marketing firms, MightyHive and S4 Capital.
  
  

[06:39] – eCommerce and Amazon Trends

• COVID has influenced consumer demand and the global acceleration of the adoption of eCommerce.
  
  
• eCommerce is gaining traction; this will stick even post-COVID.
  
  
• One of the most notable Amazon trends in recent years has been the increasing pay-to-play platform.
  
  
• Brick and mortar retailers are starting to adopt retail media as a revenue channel. They do so to increase revenue streams.
  
  

[08:51] – What is retail media?

• Retail media is the monetization of traffic by eCommerce retailer marketplaces. They do this by selling ads on their platform.
  
  
• By selling digital real estate, retail media provides eCommerce platforms a second revenue stream.
  
  
• Amazon is the blueprint for retail media.
  
  

[11:18] – The challenge for brick and mortar retailers

• Brick-and-mortar stores leverage their scale to pump more money out of their vendors and suppliers. However, they do not present any significant benefits for the brand.
  
  
• Meanwhile, retail media is self-sustaining and has larger financial returns.
  
  
• Paying money to obtain more shelf space is not as direct as getting an ad click.
  
  
• If done correctly, retail media could be beneficial for both the retailer and the brand.
  
  

[14:07] – The industry’s responses to Amazon trends

• There is cynicism in that Amazon is finding another way to extract money.
  
  
• The biggest complaint on the pay-to-play shift is the erosion of organic customer attraction. Product quality doesn't matter as much as paying to be advertised.
  
  
• For newer and more aggressive brands, this shift provides opportunities to accelerate their presence.
  
  

[17:21] – Equipping your ad toolkit

• Sponsored products are the lowest funnel you can reach for.
  
  
• High-funnel ads target customers that are not necessarily browsing in your category.
  
  
• Mid-funnel ads target customers who might be searching in your category but not specifically looking at the item you're selling.
  
  
• Sponsored videos are effective tools in attracting customers.
  
  
• With its emphasis on creativity, videos can grab customers’ attention in just a few seconds.
  
  

[19:49] – What is effective creativity?

• There's a lack of practical creatives in the market.
  
  
• Effective creativity doesn't mean creating top-notch images and videos. It's the practicality of presenting the appropriate information in the right way.
  
  
• People prefer authentic ads over polished ads.
  
  

[24:56] – Amazon trends to look out for and predictions on its competitors

• eCommerce could become a more significant channel. The players in the competitive landscape may be maintaining their relative share.
  
  
• Groceries could leapfrog Amazon in eCommerce.
  
  
• Amazon is strong on the hard lines, but they can improve on their fashion categories.
  
  
• Smaller and more niche players could overcome Amazon.
  
  
• Instacart, Shopify, and other direct-to-consumer brands can be a threat to Amazon.
  
  

[28:55] – Will Instacart and Shopify overtake Amazon?

• Amazon has built its physical infrastructure for almost three decades.
  
  
• There are no roundabout ways to build it easier and quicker. And so, Amazon’s physical infrastructure is its biggest strength.
  
  
• Instacart is their most interesting competitor because they don't need physical infrastructure.
  
  

[30:50] – Amazon trends: drones and cashier-less stores

• Drones will be put into action in five years and only if they’re 100% perfect.
  
  
• Cashier-less stores solve the customer pain point of having to wait in line.
  
  
• These stores minimize the formats of brick-and-mortar stores and monetizing the data streams.
  
  

[35:26] – Walmart’s customer experience

• Walmart is starting to treat its physical stores as an asset.
  
  
• It's convenient to buy your groceries online, show up at their store, and have the goods loaded onto your vehicle.
  
  
• Walmart's biggest advantage is the connectivity back to their physical store.
  
  
• Jet was a good investment for Walmart because they picked up many new people, tags, and customers.
  
  

Flowster Live Demo

https://flowster.app/live-demo/

In this episode, Mark shares some key takeaways from his latest book, Cumulative Advantage. Specifically, we learn the five-step process to bring about this advantage. We also gain some practical applications of this process. Mark talks about what the third consumer rebellion is and why marketers should care. These lessons are so valuable that you can readily use them, regardless of what agency you run.