Issue 083: The New DTC Job Board 👀

🚨 NEW SECTION ALERT 🚨

We’ve become a bit of a Grand Central Station for job postings in the DTC world, both for brands and SaaS co’s looking for talent. If you’re on the market, check it out. 👇️

And if you’re in the market, and are looking to hire good people, shoot us an email and we’ll include your listing in the next issue. ✌️ 

| YOU’RE HIRED

Brands

• Brand Manager (ResBiotic)

• Senior Media Buyer (Bryan Anthonys)

• E-commerce Manager (Glade Optics)

SaaS

• Vice President Marketing (Zipify)

• Customer Success Manager (Shoplift)

• Enterprise Account Executive (Fermat)

• Project Manager (Surefoot)

Got a job you want us to list? Let us know.

| TWEET OF THE WEEK

You've probably seen a lot of "in vs out for 2024" and I thought I'd do one for the DTC industry as I see it. I'll leave a bit of context for some that are important. Let me know if you agree.

IN:

1. Contribution Margin Dollars - As a marketer, it should be the main thing you obsess over

2. Incrementality - Stop caring what an ad platform says. Every dollar you spend should be held accountable. Does it drive real impact?

3. Creative Diversity - AI is here to stay. AI creative is pretty bad still, but the effect it will have on media buying is here to stay. You need to be producing drastically different types of creatives to reach different pockets of people.

4. Geo Lift Testing - Geo testing is the best way to measure incrementality.

5. Youtube Ads - Along the same lines. I think there is going to be a rise in DTC brands scaling Youtube Ads, profitably.

6. Performance Based Creative Agencies - Anyone who is worth their salt making ad creatives is going to charge on a % of spend model.

7. Upper Funnel Meta Ads - This year, I think a lot of brands will crack running video view or reach campaigns on Meta which will help them grow past what conversion ads can get them alone.

Check out what’s OUT in 2024.

| YOUTUBE UNIVERSITY

2024 Media Buying Masterclass

| TOGETHER WITH EIGHTX

Get Actionable, Practical, No-BS Advice From A CFO Who Is Focused On Brand Growth, Profits & Scale

After a few years of losses and declining sales, we helped the following baby-focused eCom brand turn the ship around for an 8-figure exit. How did we help?

Sales growth for this CPG brand was phenomenal but we needed to break even, right away. How did we help?

I have an offer for the Workspace6 crew. I want to talk about your business and all the lost profit we can find in it. Book a call and let’s chat. I’ll deliver a free Financial Plan, normally valued at $2500, for free to W6 members and readers. In it, you’ll get:

• A 3-year financial forecast, by the month.

• A P&L, cash flow plan and balance sheet forecast

• Marketing and CAC budgets

• Recommendations from our CFOs for increasing your valuation

• And a lot more 👍️ 

I’m in the W6 Slack community if you want to chat. Just find me there. Otherwise, book a call and we’ll go from there. Talk soon!

| QUICK SHOTS

• @andrewjfaris: Working with an operator right now who is looking ahead to March and April and sees a potential cash flow issue. Because he has planned carefully and checks his cash flow forecast religiously, we have plenty of time to solve this problem. Go and do likewise.

• @RyeMcKenzie: Ecom Rookie Mistake #1: Trying to do everything. I get it, you are new to the game and you are trying to figure everything out. Build systems, then delegate tasks so you can focus on growing the business, and not how it runs…

• @damccormick13: How to get 130+ day terms on Meta, at relatively low costs:

• @SarahLevinger: In 2014, KFC increased the sale of one of their flagship products by 56% using a super simple psychology hack. They spent weeks working with the team at Ogilvy to crack the code. I’ll teach you how they did it in just 3 minutes:

• Robert Freund: Does your brand sell subscriptions to consumers? Be aware of NY's new amendment to its automatic renewal law.

| HERE FOR THE MEMES

| AND IN OTHER NEWS…

| SMART MONEY

| GET LINKED

How confident do you feel about your marketing plans for 2024?

As marketers, we're often told "make the business grow 20% this year", with no input on the goal or the budget needed to achieve it.

But a goal without a plan is just a dream...or a nightmare, as many of us have experienced.

This is why I recommend that every marketing team puts together a customer forecast to go along with their financial forecast.

What is a customer forecast?

1. Project 2024 sales from customers you acquired in prior years.

2. Subtract this number from your 2024 goal. That is your new customer sales target.

3. Divide that goal by your new customer AOV. That is the number of new customers you have to acquire to hit your revenue number in 2024.

4. Divide your marketing budget by that number–that's your target CAC.

Why is this useful? It tells you what you're up against.

If you're tasked with driving a 10% increase in sales on a flat CAC YoY, iterative strategies will work.

If you're tasked with driving an 80% increase in sales on a 25% lower CAC YoY, you need to take more risks. "Optimizing Meta ads" probably won't do it for you.

When finance, management, etc. sets your growth goals for next year, they rarely think about it from this perspective.

Big growth requires more risk, more cross-functional cooperation and more resources. But many owners/C-suite folks assume that growing sales is simply a matter of increasing marketing budgets.

So this is a great tool for building empathy for the marketing team and getting the resources you need to have a successful 2024.

If you're interested in reading a more tactical, step-by-step guide to building a customer forecast, comment below and I'll drop a link.

| THE OUTRO

Damn y’all it’s good to be back. 😤 

2024 is going to be a hell of a year.

HELL. OF. A. YEAR.

Buckle up!

Workspace6