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- Issue 124: turn negative ads into gold š°
Issue 124: turn negative ads into gold š°
+ what to do when costs are behaving badly
Did yāall see it in the last issue?
NEW STAT ATTACK section down there. šļø Voting is STILL OPEN on whether or not we want to keep this here on repeat or if it sucks wastewater and contributes nothing to these precious minutes when we spend time together in your inbox.
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Vote on the new section down below! š³ļø
| TWEET OF THE WEEK
Did you know you can profit from your negative reviews?
ā Jakub Szunyogh (@JakubSzunyogh)
6:46 PM ā¢ Jul 6, 2024
This is the first part of a three-part series on unit economics.
Costs Behaving Badly
This July series will focus on unit economics. Long-time readers will know that we tackled this topic piecemeal earlier in the life of CFO Secrets (before we adopted the series format).
So, this month we will go deeper into unit economics and their practical applications.
This week though, we will recap unit economics 101.
Letās get into it:
What does unit economics mean?
The technical definition is the measurement of profit on a per-unit basis.
But I prefer to think about it more broadly than thatā¦
Unit economics is the science of how your business makes money.
Why are unit economics important?
The best CEOs and CFOs I have worked with all had an incredible feel for the unit economics of their business. They could quickly (mentally) calculate what a new store, product launch, discount, new hire, etc. would mean for their business in $ and cents.
They didnāt put the whole business on standby, drowning in weeks of analysis to make 95% of their everyday decisions. They saved that resource for the more complex decisions.
Think of it like Daniel Kahnemanās System 1 thinking vs System 2. By making more everyday decisions from System 1, it gave System 2 more capacity to process harder problems.
The result of that is faster decision-making and better execution.
And you have heard me stress the importance of speed of execution in business success. Itās everything.
| YOUTUBE UNIVERSITY
Instantly Improve Your Meta Ad Conversions With These Creative Elements
| TOGETHER WITH SARAL
What do GymShark, Pura Vida, Olipop, and Obvi have in common? š¤
Theyāre all over social media? Yes.
Theyāre highly successful? Yes.
Theyāre all leveraging the power of influencers? You bet they are.
Honestly? If youāre an e-commerce brand without an influencer marketing strategy, you're falling behind. Top brands are building communities of nano and micro influencers to drive revenue through organic content.
Why?
Brands need new, high-ROI acquisition channels beyond ads
Ads are expensive š¤
A marketing channel you control is better than renting space from Meta
Investing in influencers = consistent flow of high-performing organic content, reducing ad production costs. Scale this, and you get hundreds of influencers promoting your brand for free. š¤Æ
But how can you manage it all?
SARAL makes it simple. Itās the easiest āall-in-oneā influencer marketing tool. Find, reach out, and manage influencers (everything you need to build an influencer program) in one place.
| QUICK SHOTS
@jspujji: Simple Modern is AMAZING. + Founded ~ 10 years ago + Uphill battle vs. established brands like YETI and Stanley + Only sold on Amazon at first ā¦ Nowā¦
Jon Derkits: This Amazon halo exists because consumers areā¦lazy creatures of habit.
@SeanEcom: Podcast advertising still the Wild West. One time we sponsored a sports podcastā¦
@codyplof: The problem with DTC Twitter as well ā¦Ā»
Ashvin Melwani: This was the biggest tip I saw in email marketing that changed my whole perspective on how to handle retention marketing
| HERE FOR THE MEMES
| AND IN OTHER NEWSā¦
| GET LINKED
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| STAT ATTACK š
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Yo! New section right here. You like? Wanna see more? Let us know šļø or šļø
What do you think about Stat Attack?Should we keep this section in the newsletter? |
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| THE OUTRO
Weāll be back next week with the stunning conclusion about whether or not weāll be keeping Stat Attack as a recurring section in this here newsletter.
Adios, buckaroos. š¤