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The CPG Guys, Sri & PVSB, are joined in this episode by Jordan West, CEO of Mindful Marketing and host of the popular "Secrets of Scaling Your eCommerce brand" podcast.
Follow Jordan West on LinkedIn at: https://www.linkedin.com/in/jordan-west-marketer/
Subscribe to his podcast at: https://podcasts.apple.com/us/podcast/secrets-to-scaling-your-ecommerce-brand/id1480733021
Follow Mindful Marketing online at: https://mindfulmarketing.co/
This episode is also available on Jordan's podcast.
KEY TAKEAWAYS FROM THIS EPISODE
•Ads cannot only be the drivers of a business. Shift from being ad-driven to community-driven.
•Selling in wholesale or retail is another marketing channel for your business if you are in eCommerce.
•Your business should have a margin to get into wholesale. If not, get a new product or product line to give you that margin.
•Most sales are still happening in the physical world, even in pandemic times. You need that to scale.
•Facebook doesn’t allow for the kind of robust attribution that so many mechanisms, particularly digital media, allow.
•Facebook is still highly in demand, but Google gets you much closer to the attribution model retail media provides.
•QR codes are transforming the ability of brands, in whatever form, to communicate in both directions.
•The CPG brands can be very slow to react, and they have a very structured budgetary process, and it’s going to be challenging for them to catch up.
•The brands that do catch up are going to be the ones to succeed. The ones that don’t will soon start to see their brick-and-mortar shares fall.
•Consumers are going to start losing their trust in the traditional brands that they’ve been used to. It’s bad for the brand, but it’s bad for the consumers as well.
•The skills required in succeeding in digital is somewhat evolved and different from winning in a store model.
•Everyone in CPG should start becoming proficient in CPC (cost per click) and ROAS (return on ad spend).
•To scale effectively, understand that you need to have all the elements of the experience to give your consumers the confidence to make purchase decisions.
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