The Unofficial TikTok Shop Podcast with Jordan West

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Everything that you've been told from CLV tech providers out there is most likely not the full story. Real-time LTV is the future of acquisition and as eCommerce brand owners, it is important to leverage machine learning to extract data analytics to understand how customers behave.

In this episode, Jordan West sits down with Tobias Konitzer to discuss the issue of the Actionability Gap in eCommerce. They talk about the limitations of LTV and the need for real-time evaluation of acquisition strategies, the challenges of using experimentation to learn recommendations that maximize revenue, and the potential of real-time LTV to revolutionize acquisition through value-based bidding. 

Listen and learn in this episode!

KEY TAKEAWAYS FROM THIS EPISODE

• The "actionability gap" is the difficulty of acting on individual-level customer journey data, and it's worse than the issue of LTV.
• Real-time evaluation of all acquisition strategies is needed to close the actionability gap.
• DTC brands are disappointed in their LTV and feel like they were promised more by VCs and private equity firms.
• Real-time LTV is the future of acquisition and has the potential to revolutionize acquisition through value-based bidding.
• Technology companies need to innovate and solve LTV issues for DTC brands.
• The optimal number of customers mathematically is zero, because of non-functional unit economics.
• Machine learning and data can help solve the LTV problem and provide predictive revenue for each acquisition channel.
• Experimentation and real-time evaluation are crucial in understanding what works for customer engagement with a brand.

Recommended Tool:
Amplitude https://amplitude.com/

Today’s Guest:

Tobias Konitzer is a data and machine learning expert, specializing in understanding the impact of interventions on human behavior. With a Ph.D. in computational social science from Stanford University and experience working at Facebook Research, Tobias has built databases and companies in the targeting space. He is currently focused on privacy-first solutions and the development of a central KPI in real-time, helping B to C companies measure and evaluate their performance.

Connect and learn more about Tobias Konitzer here:
Website: https://www.ocurate.com
E-mail Address: [email protected] 

Get 5 Offers for 2 Products (10 in total) along with 10 highly engaging tried and true creatives, 30 captivating headlines, descriptions, and ad texts sent to you for only $99. Go to https://www.upgrowthcommerce.com/offer and order now - this offer is only available for a limited time.

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There are countless opportunities for success when it comes to cross-selling and collaborating with other businesses. For instance, a store that specializes in makeup can easily cross-sell brushes, mirrors, and pouches to their customers. Similarly, a bike shop can sell helmets and other protective gear without having to manufacture them themselves. The possibilities are endless, and by expanding your product offerings, you can increase your revenue and customer base.

In this episode, Jordan West sits down with David Perry of Carro to discuss the benefits of cross-store selling. They delve into how to identify the right products to cross-sell, and why selling someone else's product can be a lucrative source of profit. Additionally, they share invaluable tips on how to establish and cultivate strong relationships with potential business partners.

Listen and learn in this episode!

KEY TAKEAWAYS FROM THIS EPISODE:

• Every brand wants to figure out how to get more attention and how to get more sales.
• The most successful people always know the questions to ask and they also constantly ask questions.
• It is possible to build a beautiful store with beautiful products and get zero traffic. A challenge for entrepreneurs is to get attention and to keep the attention coming.
• Carro’s concept is to collaborate to sell more together.
• Building a lot of great partnerships keeps your business alive.
• There could be a lot of products you can cross-sell in conjunction with the products you are already selling.
• Find a way to try as many hobbies as you want. Hobbies can be a great conversation starter to build rapport and connection with your potential business partners.
• Opening yourself up and being interested in people opens opportunities for learning and success.
• Think of something related to what you are doing and ask a question in a way you know you’ll get 100% yes.

Recommended Tools:
Chat GPT https://openai.com/blog/chatgpt
Steam https://store.steampowered.com/

Recommended Audiobook:
The Road Less Stupid by Keith Cunningham
https://www.amazon.com/Road-Less-Stupid-Keith-Cunningham/dp/0984659269

Today’s Guest:

David Perry is a veteran of the video game industry. He is a co-founder and currently the CEO of Carro. They connect Shopify stores together to cross-sell products without the hassle and collaborate to reach greater success together.

Connect and learn more about David and Carro here:
LinkedIn: https://www.linkedin.com/in/dperry/
Website: https://www.getcarro.com/

Get 5 Offers for 2 Products (10 in total) along with 10 highly engaging tried and true creatives, 30 captivating headlines, descriptions, and ad texts sent to you for only $99. Go to https://www.upgrowthcommerce.com/offer and order now - this offer is only available for a limited time.

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On July 1, 2023, Universal Analytics properties will stop processing data. All data will then flow to Google Analytics 4. You may still access your analytics reports for a period of time, but it is now critical to migrate your property settings to Google Analytics 4 before June ends.

In this episode, Jordan West talks about the big switch from Universal Analytics to Google Analytics 4. He discusses how GA4 will help you grow your business and shares the steps on how to migrate to GA4.

Listen and learn in this episode!

KEY TAKEAWAYS FROM THIS EPISODE:

• Universal Analytics is sunsetting this July and will be replaced with Google Analytics 4.
• All data will still be accessible six months afterward.

About Google Analytics 4:

• GA4 is Google’s next-generation measurement solution.
• GA4 is an events-based data model that lets you view a unified user journey across your website.
• It uses Google machine learning to bridge any gaps in your data with model insights and predictive capabilities.
• It doesn’t rely exclusively on cookies.
• It is built to keep up with the changing ecosystem so you can learn about your customers even better.

Migrating Over Google Analytics 4:

1. Create a GA4 property in your GA account. 
2. Create a web data stream and copy the tag ID you’ll use for the next step. (You do not have to connect your Google Merchant Center to complete your GA4 tag setup process, but you should connect it afterward.)

Go to Online Store > Preferences > Google Analytics section > Click Manage Pixel > Click Connect Your Google Account > Select the Tag ID from the GA4 property that you want to connect over to your Shopify Store > Click Connect Your GA4 property

1. Add GA4 tags to your Shopify store.
2. You might also need to migrate your audiences, conversion funnels, and goals to GA4 in your Google Analytics account.

• If you’re using Universal Analytics audiences, you need to migrate those audiences to your GA4 Property. You can identify the same user based on GA4 data and export those audiences to your linked Google Ads account.
• If you’re using your Universal Analytics to track Google Ad conversions on your Shopify store, migrate them to GA4. 
• GA4 uses events to track and measure conversions instead of Goals in the eCommerce report UA uses.
• Set up Events > Mark them as Conversions in GA > Link your Google Ads account to your GA account > Import your Conversions into Google Ads.
• Get this done before the end of June. Get this done now.

Google Support Links:
Make the switch to Google Analytics 4:
https://support.google.com/analytics/answer/10759417?hl=en
Shopify: Set up your Google tag:
https://support.google.com/analytics/answer/12183125?sjid=4944420470053676156-AP
Migrate your goals, users, audiences, and ads links from Universal Analytics:
https://support.google.com/analytics/topic/13012887?hl=en&ref_topic=10737980&sjid=4944420470053676156-AP

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As a brand owner, you always have to look for the things and partners that are valuable and ignore the shiny objects that can waste your resources in the long run.

In this episode, Jordan West talks to Kuljit Rakhra. Kuljit shares the entire process of how to find amazing publisher affiliates for your brand and how he was able to craft incredible pitches for the process.

Listen and learn in this episode!

KEY TAKEAWAYS FROM THIS EPISODE

• There was not a company in Canada certified under the Global Organic Textile Standard and Fairtrade Cotton before Takasa.
• Takasa launched in March 2020 and planned to do trade shows and pop-up shops, but the lockdowns started so they focused on their digital plans instead.
• Takasa is still growing in 2023. They were growing 60% year over year.
• Find the platform that works for you from the cost and technology perspective.
• When you get a flood of affiliate applications, you have to ignore a lot of them and look at the valuable ones.
• You have to have a platform to be a part of Skim Links.
• Get professional help on your pitching, sign up for HARO (Help A Reporter Out), and start pitching.
• Focus on what works, double down on it, and stay away from shiny objects.

Recommended Tool:
Microsoft Excel

Recommended Podcast:
Limited Supply with Nik and Moiz
https://podcasts.apple.com/ph/podcast/limited-supply/id1635582800
https://open.spotify.com/show/5KxWrVKLE89g08axf16AB9

Recommended Masterclass:
PR Secrets Masterclass
http://www.gloriachoupr.com
https://learn.gloriachoupr.com/webinar?r_done=1

Today’s Guest:

Kuljit Rakhra is a co-founder of Takasa. He is a banker and an entrepreneur who founded Takasa with his wife, Ruby. Takasa is a lifestyle company that offers GOTS- and Fairtrade Cotton-certified homewares.

Connect and learn more about Kuljit and Takasa here:
Website: https://www.takasa.co/
LinkedIn: https://www.linkedin.com/in/kuljit-rakhra-7b688632/
Twitter: https://twitter.com/kujrak

Get 5 Offers for 2 Products (10 in total) along with 10 highly engaging tried and true creatives, 30 captivating headlines, descriptions, and ad texts sent to you for only $99. Go to https://www.upgrowthcommerce.com/offer and order now - this offer is only available for a limited time.

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One crucial aspect of launching a product is making demands before the launch. By focusing on this, business owners can use their resources best and prevent the major mistakes some brands make.

In this episode, Jordan interviews Will Ford of Launch Boom. Will shares the entire process of how they were able to get beyond their goals within the first 15 minutes. He also shares how they blew up their agency, the biggest agency in the space, to create something even better for entrepreneurs. 

Listen and learn in this episode!

KEY TAKEAWAYS FROM THIS EPISODE

• Launch Boom mostly focuses on the pre-launch process.
• Launch Boom helps businesses validate demands in a short amount of time before launching their products into the market.
• If there isn’t a demand for your products or your marketing strategy doesn’t work, it will be hard to move your inventory.
• Making people pull out their wallets for something small changes the relationship between the consumer and you.
• The decision of whether to launch a product on Kickstarter or Indiegogo depends upon the product category.
• You don’t have to break the bank on an expensive agency to do everything for you. You need to make an intelligent choice on trusting the right partners with the right models for your business.
• Launch Boom helps business owners with the services and support they need from start to finish at a lesser price and does not take any commission off the back end.

Recommended Tool:
Supercreator https://www.supercreator.ai/

Recommended Podcast:
Mako Design by Kevin Mako https://www.makodesign.com/podcast/

Today’s Guest:

Will Ford is the President and Co-founder of Launch Boom. He is a serial entrepreneur who built multiple businesses from the ground up. They built an entire agency model at Launch Boom focused on supporting early-stage entrepreneurs.

Connect and learn more about Will and Launch Boom here:
Website: https://www.launchboom.com
E-mail Address: [email protected] 

Get 5 Offers for 2 Products (10 in total) along with 10 highly engaging tried and true creatives, 30 captivating headlines, descriptions, and ad texts sent to you for only $99. Go to https://www.upgrowthcommerce.com/offer and order now - this offer is only available for a limited time.

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With over 2 billion monthly active users, YouTube can be a massive opportunity for brands to reach a wider audience and connect with their target customers. If you are a brand with an annual revenue of more than 10 million and not using YouTube Ads, you could be missing a lot.

In this episode, Jordan West interviews Christian Hoppe of Forwrd Agency. They talk about how YouTube Ads can work for most eCommerce brands and the right structure of an effective YouTube Ad.

Listen and learn in this episode!

KEY TAKEAWAYS FROM THIS EPISODE

• Brands that are less than 10M in annual revenue should focus on Meta Ads because they have a lot more potential to scale. 
• YouTube ads are for brands that have maxed out or established one channel well and looking into going to another channel.
• Focusing on too many channels at once would eat a lot of your resources.
• Broad targeting creatives work well on YouTube Ads now.
• The golden length of YouTube ads is 1.5 to 3 minutes long.
• You have to find the right structure for your creatives.
• The most crucial part of the YouTube Ad creative is not only to hook but to prequalify the customers.
• The first 5-6 seconds of your ad should show people the problem and how your brand solves the problem.
• If you look at the number of people active on YouTube, you’ll see that there are a lot of people to reach out to.
• You can compare PPS with your view-through conversions on YouTube.
• You should not ignore view-through conversions but you should also not optimize only on them.
• Understand what customers are the best customers to bring in and see how you can acquire more of them.

Recommended Audiobook:
Retention Point https://www.amazon.com/Retention-Point-Membership-Subscription-Associations-ebook/dp/B07CZXD289

Today’s Guest:

Christian Hoppe is a co-founder of Forwrd Agency. He had been in the digital marketing space for the last 15 years and worked with DTC brands for the last 4-5 years. During those years, he helped a company scale from around 5 million to 100 million in 2 and a half years. He is now fully into the DTC space. 

Connect and learn more about Christian and Forwrd Agency here:
Website: https://www.forwrd.agency/
LinkedIn: https://www.linkedin.com/in/christianmhoppe/
Twitter: https://twitter.com/christianmhoppe

Get 5 Offers for 2 Products (10 in total) along with 10 highly engaging tried and true creatives, 30 captivating headlines, descriptions, and ad texts sent to you for only $99. Go to https://www.upgrowthcommerce.com/offer and order now - this offer is only available for a limited time.

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Brand owners are also consumers. As consumers, we understand that subscriptions can be annoying, but as brands, we may want consumers to commit to subscriptions to get that subscription revenue. The best strategies are to find the right balance and give our best to provide the utmost value to our consumers.

In this episode, Jordan West interviews Ben Fisher, the CEO of Rodeo. They talk about all things subscriptions. They share insights on a whole new way to reimagine subscriptions, subscription revenue, and what it means for DTC brands. 

Listen and learn in this episode!

KEY TAKEAWAYS FROM THIS EPISODE

• Consumption of products varies over time. 
• Brands want consumers to commit to a subscription. The way to stand out is to go back to focusing on providing a great customer experience. 
• Pair the right strategy with the right kind of customers.
• The brands that do very well in the space are the ones that focus on the best interests of their customers and recognize their long-term value.
• People can tell when a brand is in it just to make money.
• No consumer wants a subscription. What consumers want is your product when they need it.
• Create a small fun interaction with your customers that is also an opportunity to get feedback from them. 
• Think of ways to be on top of the minds of your customers and be perceived as helpful. 
• The goal is not to scale quickly but to get to a point where the scale matters.
• Do things that are not scalable and figure out how to scale them after. These are the things that bring the most value. 

Recommended Tool:
Raycast https://www.raycast.com/

Recommended Books:
The Membership Economy
https://www.amazon.com/Membership-Economy-Forever-Transaction-Recurring/dp/0071839321

$100M Offers: How To Make Offers So Good People Feel Stupid Saying No
https://www.amazon.com/100M-Offers-People-Stupid-Saying-ebook/dp/B099QVG1H8

Today’s Guest:

Ben Fisher is a designer and programmer. He’d been building software tools for most of his life and even started coding in 5th grade. He is now the technical CEO and co-founder of Rodeo. They help 8-figure CPG brands optimize customer LTV through flexible subscriptions.

Connect and learn more about Ben and Rodeo here:
Website: https://hey.rodeo/
LinkedIn: https://www.linkedin.com/in/skinnyandbald/
Twitter: https://twitter.com/skinnyandbald?lang=en

Get 5 Offers for 2 Products (10 in total) along with 10 highly engaging tried and true creatives, 30 captivating headlines, descriptions, and ad texts sent to you for only $99. Go to https://www.upgrowthcommerce.com/offer and order now - this offer is only available for a limited time.

Send us a text

Some people think that great opportunities do not often come along. The truth is there are a lot of opportunities around us and people often ignore them. However, it is not just about the opportunities we grab, but the right actions we take once we get them.

In this episode, Jordan West chats with Hank Watt of Nature’s Wild Berry. Hank talks about how they started the business and their growth over the years. He shares his recent feature on Shark Tank and how it impacted their business. He also gives some valuable tips and lessons he learned throughout his business growth.

Listen and learn in this episode!

KEY TAKEAWAYS FROM THIS EPISODE

• When you are starting a business, you have to make as much as you can with the opportunities you get.
• If you want to get your product into distribution, you have to consider pricing that will give money-making opportunities for the people along the chain and will still give you your margin.
• The secret of influencer marketing is authenticity. You don’t need to tell an influencer what to do when you have an amazing product.
• During the trying times, don’t focus too much on the pain and suffering, look at the many opportunities for you and your brand instead.
• Building great relationships with people must be one of your top goals.
• You may have your limitations, but you can find the right people to work and partner with to succeed in your business.
• Having trust between business partners is everything. A business partnership is like a marriage and your products are your children.

Recommended App:
LinkedIn https://www.linkedin.com/ 

Recommended Book:
Feel the Fear and Do it Anyway by Susan Jeffers
https://susanjeffers.com/books/feel-the-fear-and-do-it-anyway-revised-and-updated/

Today’s Guest:

Hank Watt is a co-founder and the owner of Nature’s Wild Berry. Hank came from a family of doctors. Everyone thought he would be a medical doctor but he knew it was the last thing he would become. During his 20s, some circumstances made him want to prioritize his health. He partnered up with a friend and discovered the life-changing berries that also became the foundation of their current business.

Connect and learn more about Hank and Nature’s Wild Berry here:
Website: https://natureswildberry.com/
LinkedIn: https://www.linkedin.com/in/hankwatt/
E-mail: [email protected]
TikTok: https://www.tiktok.com/discover/natures-wild-berries
Instagram: https://www.instagram.com/natureswildberry/?hl=en

Get 5 Offers for 2 Products (10 in total) along with 10 highly engaging tried and true creatives, 30 captivating headlines, descriptions, and ad texts sent to you for only $99. Go to https://www.upgrowthcommerce.com/offer and order now - this offer is only available for a limited time.

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It is important for e-commerce brands to understand their consumers and audience to make intelligent decisions for their business. It is a good thing that rapidly evolving AI solutions are here to help business owners do this precisely.

In this episode, Jordan West chats with Richard Harris, founder, and CEO of Black Crow AI. They talk about machine learning and the data you can use to make decisions for your brand. They also share insights into where we are now in the life cycle of artificial intelligence.

Listen and learn in this episode!

KEY TAKEAWAYS FROM THIS EPISODE

• A lot of what you’re able to do to build a profitable relationship with people in business is based on data.
• Every action a user takes has hundreds of signals that can be analyzed and predict their future actions.
• Apple’s privacy changes highly impacted a brand’s ability to recognize its users.
• Using predictive AI, ROAS on Facebook goes up by 15 to 40% and e-mail and SMS revenue on Klaviyo increased by 25 to more than 100%.
• Once you understand your users and their future value, layering predictions become more powerful, decisions become more intelligent, and actions become more precise.
• After all the difficult timed brands have been through, AI solutions, such as Black Crow AI, make brands feel more empowered again.
• You always have to get clear and let your consumers see the value you can provide for them.

Recommended Tool:
Gamma AI https://gamma.ai/

Recommended Podcast:
Making Sense Podcast with Sam Harris https://www.samharris.org/podcasts

Today’s Guest:

Richard Harris is the founder and CEO of Black Crow AI. Black Crow AI is a machine-learning company focused on helping consumer brands, especially DTC and Shopify stores, grow more profitably with the power of predictive AI.

Connect and learn more about Richard and Black Crow here:
Website: https://www.blackcrow.ai/
LinkedIn: https://www.linkedin.com/in/richardlharris/
E-mail: [email protected] 

Get 5 Offers for 2 Products (10 in total) along with 10 highly engaging tried and true creatives, 30 captivating headlines, descriptions, and ad texts sent to you for only $99. Go to https://www.upgrowthcommerce.com/offer and order now - this offer is only available for a limited time.

Send us a text

Customer Acquisition Cost or CAC is a vital measure that tells the efficiency of your various campaigns. It can determine how costly or profitable it is for your company to stay stable and scale. Lowering CAC is what keeps most business owners up at night. 

In this episode, Jordan West discusses what CAC is and how to reduce your CAC in 2023 effectively.

Listen and learn in this episode!

Key takeaways from this episode:

How to lower your CAC:

1. Prioritize organic marketing. Organic marketing channels such as TikTok, Instagram, and SEOs are effective in driving customers to your store without costing you so much.
2. Focus on your AOV. The higher your AOV gets, the higher you can spend on CAC. Keep your marketing budget on that 20% mark.

• Create an order minimum for free shipping
• Bundle products to create packages
• Do some up-selling or cross-selling
• Incorporate live chats and live events

           3. Lower your cost of goods sold. Every dollar you’re not spending on your manufacturing can be in your pocket or spent to acquire new customers.

• Getting your marketing budget right is knowing how much you can spend to stay stable and how much you can start to scale from there.
• CAC is not all about your ads. Your email flow, SMS flow, pop-ups, social media, word-of-mouth, SEO, direct mail, traditional advertising, and how well you’re targeting and retargeting people also matter. 
• Social Media is still one of the best ways for DTC brands to get customers, but all channels work in tandem with each other.  
• Industry benchmarks can be helpful for early-stage companies to keep the CAC sustainable.

Get 5 Offers for 2 Products (10 in total) along with 10 highly engaging tried and true creatives, 30 captivating headlines, descriptions, and ad texts sent to you for only $99. Go to https://www.upgrowthcommerce.com/offer and order now - this offer is only available for a limited time.