It does not matter where you advertise, as long as your spend is achieving your return on ad spend (ROAS) goals. Facebook was the best game for a number of years because it was so cheap that it made the ROAS hurdle much lower. It is really simple arbitrage - buy low (the ads), sell [...]
This is a Quora question I was asked and my answer is as follows. My sense is that a minimum qualification for “successful” is profitable on an EBITDA basis (net profit or earnings before interest and taxes, depreciation and amortization) such that your profits will pay back your original investment in a defined time [...]
This is a nice how to guide to setup the systems to track your customer's journey through your sales funnel. It is more geared towards SAAS, but still is a good framework for consumer product sales. I have added it as an external resource to Section 2: Systems of my Lean & Agile Framework.
This is a Quora question I was asked and my answer is as follows. For my P&L’s, I break cost up into 3-main buckets: COGS (cost of goods sold) Marketing Operations I compute COGS based on landed costs, which includes the complete costs to produce a product so that it is sitting in your warehouse [...]
In general, I am opposed to having Amazon transact and fulfill because you don't know who your end customer is. Essentially, you do all the work to market your product and Amazon gets your customer's contact data and you do not. This company appears to be making Amazon work for them and still capture sufficient [...]
This is a Quora question I was asked to answer. My answer is as follows. I have outlined my complete technology infrastructure for consumer product companies here. Pulling from this visual, my top three are as follows. Content marketing, organic SEO and ecommerce. I use a Wordpress website. This platform is very conducive to creating and publishing content [...]
Another example of micro-production coming online to provide more customized products to consumers.
This video tells us how Amazon, Apple, Facebook, and Google have become so valuable and integral to our lives. In a nutshell, their offerings get better every time someone uses them because they collect data that allows them to feed back into improving their offerings. This is in stark contrast to a consumer product that offers [...]
This is a Quora questions that I was asked to answer. Here is my answer. That will depend on a lot of factors - your volume, distances, consistency, speed of delivery, does the product require cooling, how is it packaged (case and pallet configurations), carrier, etc. For 8+ figures in annual sales, I have gotten [...]
An example using AI and deep learning to create customized food products for each one us. There are huge problems with getting to this end goal, which this article does a very nice job of exploring. But this article might give you ideas for how to incorporate AI and deep learning into your efforts.
