Sellerscast: Building a Brand to Decrease Your Customer Acquisition Cost
On August 6th, 2019 our Marketing Director, Andrew Maff, and Head of Accounts, Gina Milazzo, sat down to talk about stepping back and looking at everything as a whole when building a brand, and ways to decrease your customer acquisition cost.
Andrew Maff : What's up, episode number 39 of the SellersCast. I'm Andrew Maffetone.
Gina Milazzo: I'm Gina Milazzo.
Andrew Maff : And today we are talking about how to build a brand to decrease your customer acquisition costs.
Building a brand. Yes, we're going to knock this out in six minutes.
Gina Milazzo: Whoohoo.
Andrew Maff : So this is a very high level conversation, but it's an overall, you have to always take a high sky level looking down. There's a thing-
Gina Milazzo: Like Godzilla.
Andrew Maff : Yeah. Pretty much like Godzilla. Anyway, so I love that. So looking down at the whole picture, right? Like we always talk here-
Gina Milazzo: The whole city you're going to crush.
Andrew Maff : We always talk about like these little things that we're going to do, right? Like here's this, fix this on your strategy, fix this on your strategy, fix this. Sometimes you do have to step back and look at everything as a whole. So now we're going to talk a little about brand building. Obviously why it's important. Some of you, this may be us beating a dead horse, but for others hear me out because I know a lot of sellers out there that don't focus on brand building.
So let's talk about the people who usually don't build a brand, right? My favorite are the Amazon sellers that have zero product line reasoning. They just kind of, "This product looks like it's gonna Sell good and then this product looks like it's going to sell good."
Gina Milazzo: "Ooh, these are purple."
Andrew Maff : Everyone's goal is to eventually sell their company, right? Like you're always looking to get acquired or you're looking to let it go. At one point you want to let go. You want to have that big payout one day. You're going to have a nightmare selling an Amazon-only business that has 500 random products that have nothing to do with each other and no one knows your name. You are going to hate yourself for doing that.
Gina Milazzo: We just broke some hearts saying that.
Andrew Maff : I know. There's some people out there like, "This is wrong." Comment, take me on.
Gina Milazzo: Fight him.
Andrew Maff : Fight him. So listen, here's what our stance is on this. So obviously you want to build a brand. We all know the reasoning behind building a brand is because as time goes on, you are reducing your customer acquisition costs. One of my favorite examples. We have a client we work with who was spending obnoxiously a lot of money in the beginning on paid advertising. And then as time went on, their customer acquisition costs slowly started decreasing simply because people were no longer searching for the product. They were searching for the brand name and the brand name started to pick up traction and started to keep going and reduce the customer acquisition cost.
Everyone's always worried about, "Oh, you know, cost per click on Amazon and Facebook and Google keeps going up." And if I have to hear it one more time, it's going to drive me insane. But do you know what keyword no one's really fighting for that you'll always win? Your own brand name, like you can't lose that one.
Gina Milazzo: Congrats.
Andrew Maff : So it doesn't even matter what your brand is. Even if you have a dumb name for your company, people are still going to search it, if you can build there. So-
Gina Milazzo: Own your dumb name. That's yours.
Andrew Maff : Yes, it's your dumb name.
Gina Milazzo: It's your dumb name.
Andrew Maff : You be you. What ... Let's do ways to build the brand, right?
Gina Milazzo: Sure. Easy peasy. Super simple. First level stuff like brand colors, brand logo, brand identity and having it across everything. Super cohesive. Have all of your colors be the same, all of your material should just match. That's an easy one. It makes it recognizable, it makes it identifiable, gives you a look, gives you a feel.
Andrew Maff : Yeah. Community-Building, very standard, straightforward. Obviously everyone says, you know, the second best KPI to a sale is email so if you can grow an email list, great. Obviously social following is fantastic too. You want to be able to reach them whenever you can and whenever you release a new product. That's another thing with branding is that product launches become way easier than they do if you have no one to contact.
So focusing on really honing in on a demographic and building that community and preaching that lifestyle. So we had a couple examples we would talk about.
Gina Milazzo: Dollar Shave Club is a good one.
Andrew Maff : Dollar Shave Club does very well. They do a great job at just owning their market and sticking to it. Their brand is consistent. If you come across one of their ads, even if you kind of just glance at it, you'll know in a second that it's a Dollar Shave Club Ad. They'll-
Gina Milazzo: Some of them have their logo, other ones don't too, and it's a good thing.
Andrew Maff : Yeah. You kind of pick and choose. Same with the social posts and things that they do. You nine times out of 10 you see it., you know that it came from Dollar Shave Club. A lot of people follow them just because they are posting things that are similar to what they're posting about. They're not trying to sell you in your social posts. They're not trying to do anything. They just want you to engage and be around so that they can run ads to you later on.
Who else? Chubbies does a great job. Got to love Chubbie's branding. They've been in classic forever. Who ... Hims does an awesome job. Yeah.
Gina Milazzo: They're being copied now, is the thing. That's the one risk you do run is that if your branding is very simple, it's very easy to knock it off. So Hims does like the pastel color, super high exposure, very large product spotlights. Now a lot of other people are doing that too. So just keep in mind.
Andrew Maff : So staying on the branding side, you want to have the cohesiveness across the board, right? Like we just mentioned a bunch of social stuff, but if you go to their site, it has the same look and feel. If you go to some of them who have Amazon listings, they all have the same look and feel. They're on Ebay or Walmart or Jet or anywhere else.
Gina Milazzo: Subway ads, billboards, all of that stuff, it all matches.
Andrew Maff : It all looks the exact same. So if you ever come across an ad, even if you read it and don't even think like, "Oh that's Hims." Like you'll just know that's Hims or that's Dollar Shave Club or that's Chubbies and it's always out there trying to just continuously build a community and just bring in the people that are willing to purchase.
They may not be willing to purchase now, but they are actually going to with you one day, especially if they're in that same community. Building that brand, you have a much easier time getting acquired or selling off the business, if you actually can turn around and say, "Hey, yes we have x sales but I also have, millions of people that I can reach whenever I want."
Gina Milazzo: Assets, look.
Andrew Maff : So that makes it so much easier than just having some random product line of a bunch of stuff. Anything else? Good.
Gina Milazzo: Know who you're talking to, know who you're speaking as. Not always the same thing. That's a good one.
Andrew Maff : Yes. I didn't give any love to anyone last week so I'm going to give some love to this one.
Gina Milazzo: No.
Andrew Maff : So on a listening side, so knowing about who's actually speaking about your brand, we're big on SproutSocial. They have a cool listening tool where you can get different keywords and keep an eye on stuff people are talking about you or of course, things that people are talking about that you may want to get involved in.
But they're great for keeping an eye on your brand, especially on across social. But they also do it for the Internet in general. So setting up things like Google alerts and all that is unnecessary. Cause Sprout will actually do that stuff for you. But once again, thank you so much. We'll see you all next week. Please subscribe, comment below and have a good one.
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