Ryan Martin’s Post

Transcript

Complete this sentence. Direct to consumer brands that will that do well in 2025 are focusing on what we'll go with Adam, the focusing on simplicity and speaking to the customer. And I know it's kind of what I've said already, but ultimately the only thing that's going to happen in 2025 is there's going to be more brands coming to market. There's going to be more apps that people are checking on site and ultimately there are going to be more and more people that brands are interacting with from a shopping point of view. But are people talking to them? Possibly not. So I think, you know, going back to the core part of business, you know, if you think about that, you know, that shopkeeper mentioned before, what do they do? They kept it simple. They shared their goods. They said good morning. They said thank you. They asked me if they need help. All that stuff. Just go back to basics because you know, you're going to stand out in this very hyper complex, you know, overdesigned econ world that we're going to be facing in in 2025. Yeah, brilliant. And before I go to you, Peter, when we say talk to customers. Like, can we real off between the three of us, how many different ways that someone in an ecommerce founder can actually talk to their customers? So we got surveys. We got good old fashioned phone call. We got a live chat. Would you would you include that in terms of potential communication Ave. we got emails, absolutely emails. And look, we've got text, we've got listening, we've got analysing search data on site because that's another form of understanding what they need. We've got Net Promoter scores, NPS surveys to understand what people are looking for. We've got jobs to be done, surveys where we are basically meeting with our high LTV customers and basic. Into the crux, I've look, why did they initially choose to, you know, come to us as a company? But secondly, what is the core thing that actually you're the core job that your product does for them? So is it about, you know, if it is a a vitamin drink, is it actually about making their knees feel better? Or is it about giving them more energy at 6:00 in the morning when they're supposed to be on a podcast that they are late for? So you've got you've got you've got lots of bit of personal on there, but you've got lots of different ways depending on how big you are. The company, the torts customers, and if anybody wants an example of these, just connect with me on LinkedIn guys. And I've got, you know, planning that I can share with you on this. Yeah, perfect. And so, you know, going back to that first example or even the vitamin example that you just shared there, was that literally what you asked those people? What, why did you shop with us? What, what was it that kept you coming back a second time? Like was, was it as simple as that or did you sort of ask some, some a roundabout questions to form that? Yeah. So we're we're jobs. Done. It's kind of a case that you have to sort of work up to these and a lot of the questions you asked tend to be then responsive based on what they've done. So generally with the. With the kind of thing of like, why did you come to us? What you generally start up is, is saying look. When you first realized that you're looking at this type of product, what was your first action? So, you know, in that case, you might be saying, well, you know, probably a couple of years ago, you know, I I was realizing actually need to look after myself more and I started looking on Google to find out if there are any sorry, add dogs in our communicating to each other across the street. But ultimately in that situation, you then find out, look, they were they were going to Google and they were looking at they tell you about the companies are looking for. And then all of a sudden you find out, well, actually, you know what a mate down the road who I play soccer with on the weekend, he actually talking about you guys. Ohh, right. OK, so we've got that point. We then drill down again and we're saying, well, OK, in that situation, what did you do about it to actually go and find out more about it? So then they might be saying, well, actually, you know what, I can't really remember, but I can't remember seeing this Instagram video you guys did. So all the way through as you're going down, what you're identifying is all the different touch points that. These people see and then when you get to that kind of crescendo moment of like, OK, like what actually, you know, when you think about this product in itself and when you, you know, consuming this vitamin product. You know, what's the actual thing? How does it make you feel? Well, actually, you know, makes you feel a bit more support. OK, where does it make you feel more sorting my knees? Well, tell us more about your knee. So it's kind of like, I guess a little bit like playing detective, but you're just trying to get to those kind of innermost crux moments of what it is. Because what you can then do with that is you can use that then in your messaging, with your marketing, with your on site. So it just cuts a bit deeper when a customer comes to start rather than saying, you know, be 12. Infuse vitamin supplement drink or who gives a **** but you know, like, you know, got sonnies this will make it better or, you know, just something along those lines, because ultimately then that's the whole thing. You want people to go, Oh yeah, that's me right, bye. So, yeah, it's, it's got a, it tends to be one for bigger companies because obviously there's a lot of time involved in doing it, but what you can get from it is incredible. But equally it, even the smaller company MPs surveys, you can learn so much from those and just tweaking your messaging, tweaking your, you know, your pages on your site with it because again, you're learning what customers want, like and dislike. Yeah, that's, that's brilliant. I, my people are out. I'm I'm excited for our listening audience to hear this podcast because there's just, there's a lot of absolute gold here. So thank you for that. What when you mentioned jobs to be done, what what is that? Is that a, is that a, a strategy or an app or, or what? What's jobs to be done? So, I mean, jobs to be done has been around for a long time, but one of our partners, Valentin Radu, who owns company gonna convert, really kind of got us into this a few years ago. And it really is just that process that I went through there of of ultimately you're doing a kind of a face to face interview or video interview with your kind of key most, you know, high spending customers and you're working out OK, that that core moment of what they need your product for now. You know, if if for example, like. That you 2 guys today you're both wearing white T-shirts. You know the white T-shirt jobs to be done for Peter might be that he wants to look more tanned because he's finally got a tan after being in Australia for a year now you Ryan, it might be that actually, you know your your job to be done for that white T-shirt is you're looking to find the love of your life because after this podcast, you're going to a bar in Melbourne to pick up a *** *****. You might be married, I don't know. But the point is you know, you both have a different job to be done our responsibility. The company to find out what that is for that white T-shirt and then find other customers like you to get them to buy it for that job to be done. So you know, it's that's the the kind of thing that we're looking at about that process and how you can get to that point where you can sell more. Fantastic. And that just ties in so beautifully to as you said, your newsletters, your your copy, your social media content, everything. If you started to build that around, you know, both Peter and I reason for wearing a white shirt. You just get so much cut through. It's that's brilliant mate. I DTC brands that will do well in 2025 are focusing on what? They're focusing on sustainable long term growth activities, not quick fix, not sort of instant gratification things like Facebook ads, Google ads. Those are things if you if you turn them on, they're working. Well, cool, great. You turn them off, guess what, you don't have a business. You've got to focus on the long term sustainable things. And what I'm talking about here is gonna focus on Co. You've got to focus on CRO. Yes, I'm plugging what we do, but ultimately CRO is it's it's I've actually written a LinkedIn post about it. It's compound interest. If you get one win today, you get another win next week. You know, if you compound these tiny little wins, one percenters, you know, just tiny little increases in your revenue, that compounding of those little ones back-to-back over time are huge. You know, I did a rough calculation on 100K brand today and I was like, OK, if you, if you did 2 little optimizations in a month, you got two wins and all you did was increase that by 1% so that that's. That works out to about 2% growth month on month. Right after five years, if you were 100K brand doing 100K in monthly revenue, in five years time you've actually made over that five year period you've made an additional 5 million in revenue. It's actually over 5 million. And that is mental like to think that you weren't even, you weren't even you, you were 1.2 million a year brand you've now made over those five years you've actually doubled because you've made an additional 5 in that period. And that's just by doing. Little incremental changes and look, sometimes you have one, sometimes you have losses. To say that you're going to have 1% is a bit crude. That's that's a bit, you know, a rough calculation. But sometimes you're going to have a 2030% one, you know, So that's not even taking consideration some of the big ones you can have. So you can imagine what that sort of long term sustainable focus on little things that can improve the store that look little like you going, oh, 1%, that's great, cool if maybe $500 this month. Yeah, but we've made you $500 this month plus next month, plus next month plus next month. And ultimately those things are adding up.