Marketero · Entrevistas
Ep 337: How to be Hermes with Sean Frank, CEO of Ridge Wallet
52 ideas de marketing sacadas de «Ep 337: How to be Hermes with Sean Frank, CEO of Ridge Wallet», de DTC Podcast. Sobre todo de estrategia y decisiones de…
- 52 ideas despiezadas
- Fuente DTC Podcast
- Dura 52 min
- Publicada en 2023
Ver la entrevista entera en YouTube
De qué habla
Las 52 ideas de esta entrevista se reparten así entre las etapas del marketing. El reparto es lo que distingue una entrevista de otra: dice en qué se detuvo de verdad quien hablaba.
Las 52 ideas, con su cita y su minuto
Cada una está sacada de un punto concreto de la entrevista. El enlace del titular lleva a
la página de esa idea, donde se ve quién más la dice por separado; el del pie salta al
segundo exacto del vídeo para que la compruebes tú.
Estrategia de contenidosInvertir el 100% en contenido orgánico los próximos 5-10 años. Las marcas DTC deben ir al máximo en contenido orgánico porque es distribución gratuita que no va a durar para siempre. Las plataformas (Instagram, TikTok) están priorizando el contenido orgánico sobre los anuncios pagados.
players creator that businesses are going to win the next five to ten years go a hundred percent in on organic content uh because it's a gift it's only going to be here for a little bit of
Escúchalo en el minuto 1:16
Los fundadores sobrevaloran sus empresas; hay que ser genuino con el equity para atraer talento
Estrategia y decisiones de negocioLos fundadores sobrevaloran sus empresas; hay que ser genuino con el equity para atraer talento. Sean Frank advierte que la mayoría de fundadores sobrevaloran lo que vale su empresa. Si ofreces demasiado equity sobre una valoración inflada, destruyes la relación con el inversor o empleado. Sé honesto sobre la valoración real y ofrece equity sobre el valor incremental.
say your company's probably worth a lot less than you think it is so I'd be a little more genuine with Equity me and my CM O'Connor don't have majority control Ridge but it's pretty close uh and that's because Ridgewood understood the value we provided so at the end of the day people are going to drive your business forward uh and maybe your business was worth 50 million dollars eight months ago or whatever it's probably worth five now so I would just find uh you know a good relationship with whoever you hire and really incentivize them to grow it there's a thing called profits interest if…
Escúchalo en el minuto 39:16
Estrategia y decisiones de negocioUsar 'profits interest' para vincular ejecutivos al crecimiento sin negociar sobrevaloración. El profits interest permite fijar el valor actual de la empresa y que el nuevo ejecutivo gane equity solo sobre el crecimiento incremental. Así se evita la pelea por la valoración y se alinea el interés del ejecutivo con el crecimiento real del negocio.
there's a thing called profits interest if you're in the US where you can lock in your value of your company right now and they can just get incremental equity on top of that so they recommend doing something like that
Escúchalo en el minuto 39:48
Canales de adquisiciónMeta recibe entre el 30% y el 40% del presupuesto publicitario de Ridge Wallet. De su presupuesto total de publicidad pagada, Ridge Wallet destina aproximadamente 30-40% a Meta (Facebook/Instagram), 10% a influencers, 3-5% a TV y el resto a email newsletters y otros canales.
meta as a building is probably getting 30 to 40 of my money you know at least 10 of our money is going to influencers probably three to five percent going to TV we do a lot of stuff with email newsletters but like
Escúchalo en el minuto 30:34
Funnel drains: ofertas mensuales para reactivar leads de +60 días
Retención y relación con el clienteFunnel drains: ofertas mensuales para reactivar leads de +60 días. Ridge Wallet envía ofertas mensuales ('funnel drains') a personas que llevan 60+ días en el funnel sin comprar: ofertas de descuento extremo en productos premium (ej. billetera Damascus negra de $200). El objetivo es flushear el funnel y dar entrada a nuevos leads.
success with that and then we've moved even more drastically that like if you're in our funnel for over 60 days right uh we have like you know once a month uh we call them funnel drains so we have like a 200 black Damascus wallet if you're in our funnel for 60 days you know make a purchase you get an offer to buy that at like an extreme discount just because we want to flush you out and get get new people in well that's interesting
Escúchalo en el minuto 10:23
Estrategia de 4 picos: crear un reason-to-buy cada 90 días
Retención y relación con el clienteEstrategia de 4 picos: crear un reason-to-buy cada 90 días. Ridge Wallet usa la estrategia de los 4 picos: Anniversary (marzo), Father's Day (junio), summer giveaway (agosto) y Q4 holiday. Crear eventos propios cada ~90 días evita meses muertos en el funnel y genera spikes de revenue recurrentes.
a thing called the four Peak strategy right and we both kind of came up with uh that at the same time I think so in March we do an anniversary sale right and then we have Father's Day is a huge event for us those are like multi-8 figure months and then in Q4 we have you know Christmas shopping holiday shopping whatever we have nothing in the summer so from like July to October we didn't really have a reason to you know make customer purchase right and if you look at like buying Cycles or whatever your your post purchase survey like people stay in your funnel for 30 days 60 days 90 days so we…
Escúchalo en el minuto 9:24
Los outcomes de venture scale no son posibles en marcas de consumo
Estrategia y decisiones de negocioLos outcomes de venture scale no son posibles en marcas de consumo. Los retornos al estilo venture capital no son posibles en el espacio de marcas de consumo. Hermès, con 185 años y sin VC, vale 135B. Lululemon tomó 25 años para llegar a 45B. La conclusión: hay que construir pensando en décadas, no en exits de 5-7 años.
single brand ever is Hermes right they're uh 185 years old right they did not raise venture capital and [ __ ] scale to 135 billion dollars uh or like the best success story uh Canadian favorite Lululemon uh it's going on like 30 years old right they're only worth 45 billion dollars so half of what figma just got by four that's 25 years of [ __ ] effort to build Lululemon so Venture scale outcomes just aren't possible in the brand space I think that's been proven you can still sell your business for a billion dollars the [ __ ] you know you could be hero Cosmetics you could sell for 680…
Escúchalo en el minuto 4:52
Estrategia y decisiones de negocioRegla #1 para DTC en 2022-2023: sobrevivir. La regla número uno para marcas DTC es sobrevivir. El capital se está volviendo más caro, la FED sigue subiendo tasas, y los VC no pueden pedir dinero a sus propios inversores en un mercado a la baja. Muchas marcas no lo van a lograr; las que sobrevivan el gran filtro van a tener mucho menos competencia.
yeah survive I think it's a lot of brand owners out here uh that's been my advice for like three years and people thought I was crazy uh I've just been talking about like oh no like it's gonna get really hard to run a brand uh and then it got really hard to run a brand and I know a lot of brands that didn't survive if you're in this room you've made it through some sort of great filter there's going to be more great filters ahead of you I think a lot of people are looking for funding uh close it sooner rather than later uh funding's gonna get harder and harder to get because money's getting…
Escúchalo en el minuto 2:34
Investigación de mercado y clienteRidge Wallet: penetración aún muy baja; el mercado no está saturado. Ridge Wallet (>100M ARR) no está cerca de saturar su mercado. El mercado global de billeteras son ~100B/año, la mayoría de hombres no compran su propia billetera hace 5-7 años. La expansión de audiencia (canales de autos, partners como Hennessy) no viene de investigación profunda sino de pasión genuina del fundador.
uh no I think we have a different philosophy there um you know we'll we'll do well over 100 million dollars this year right we're not quite a 250 but that's what we're pushing for um that's a ton of wallets right our wallets are like 100 bucks 150 bucks so it's a ton of [ __ ] sales and people are always just like oh how big is the wallet market right and you know if you look at all small other Goods right there's gonna include purses or whatever else the Tams like 100 billion dollars it's an insane amount of wallets being sold every year and we do a lot of surveys with Google or whatever…
Escúchalo en el minuto 6:05
El modelo de arbitraje de contenido (editorial + publicidad de marcas) genera 300k–400k impresiones mensuales
Estrategia de contenidosEl modelo de arbitraje de contenido (editorial + publicidad de marcas) genera 300k–400k impresiones mensuales. Everydaycarry.com es un modelo de 'content arbitrage': publican contenido editorial sobre productos, las marcas pagan un markup para aparecer, y el sitio gana dinero con afiliados y publicidad. Con 300k-400k impresiones mensuales, es un modelo de contenido verificable y escalable.
like there was already The Playbook of doing this like you can buy a propaganda arm you can buy a PR arm and it just gives us the back door to work with like way more cool Brands so I think the three-way main ways we use it uh non-branded search so if somebody types in best wallet everydaycarrier.com can rank for that organically and I can also run ads on every carrier.com that says we reviewed the best wallets and they click our page and it says ridgewell it's the best wallet so there's a non-braded search play to it uh the second way we use it is the data piece they have affiliate…
Escúchalo en el minuto 40:39
El contenido algorítmico está reemplazando al modelo basado en seguidores
Canales de adquisiciónEl contenido algorítmico está reemplazando al modelo basado en seguidores. La distribución de contenido está cambiando de 'eliges qué seguir' a 'el algoritmo elige por ti'. Esto beneficia a creadores pequeños con buen contenido y perjudica a cuentas grandes sin engagement real. Para marcas: optimizar para el algoritmo importa más que la cantidad de seguidores.
you know you were you were picking your content who you follow or like what you want to see on YouTube or whatever right like what movie you're gonna watch on Netflix that you were choosing that right and we're moving to like algorithmic content where the almighty algo is serving you what it thinks best for you in the moment right uh and that's why Tick Tock is a more enjoyable experience and where where reels is behind right and like there's been a lot of like way smarter people talk about this that like the reason why yield real I'm sorry it looks like it's higher engagement is because…
Escúchalo en el minuto 46:36
Un ejecutivo de agencia DTC puede ser adquirido junto con su equipo para escalar una marca
Estrategia y decisiones de negocioUn ejecutivo de agencia DTC puede ser adquirido junto con su equipo para escalar una marca. Sean Frank pasó de dirigir una agencia con un cliente DTC clave (Ridge) a ser CEO de Ridge. La recomendación: cuando tu mejor cliente se queda sin líder, ofrecele venir con tu equipo. Así se adquiere talento senior con conocimiento profundo de la marca a cambio de equity o salario.
there's a lot of people in the room that would probably like to find an executive like you willing to able to take their business from five to over 100 million right I was a workout agency and they were a client and I said hey I'm gonna go start my own agency you want to come with and they said yes so I stole them from that agency they were our biggest client at my Agency for for two years or whatever uh and then if anyone in here has ever owned an agency business they're very hard to sell like you're not going to get a big exit out of your agency right maybe you know we had three co-founders…
Escúchalo en el minuto 37:27
El fundador que deja de ser performer y empieza a pensar en la longevidad es cuando la marca despega
Estrategia y decisiones de negocioEl fundador que deja de ser performer y empieza a pensar en la longevidad es cuando la marca despega. Sean Frank describe su transición de revisar reportes de ventas, estar en cada llamada de marketing y firmar cada contrato con influencers, a soltar ese rol de performer. Solo cuando el fundador deja de hacer el trabajo operativo y empieza a pensar en décadas, la marca puede construirse realmente.
and that's that's really informed by thinking about Ridge where it's like I think like you know I used to have sales reports on my phone I like I used to be in every marketing call I used to be signing every influencer deal and when you move out of that performance role and you really start thinking like the longevity of this over I'm not gonna say hundreds of years but
Escúchalo en el minuto 45:07
Canales de adquisiciónYouTube Shorts es la mejor plataforma para invertir en publicidad digital ahora mismo. Sean Frank, CEO de Ridge Wallet, considera que YouTube Shorts es la mejor plataforma para gastar dinero en publicidad digital en este momento, por su bajo CPM y alto potencial de distribución orgánica.
money like look I spend I mean today I'll spend fifty thousand dollars on Facebook and I'll spend three on Tick Tock like it's the the distribution isn't really there the scale isn't really there yet uh but this is this is secret hacks Alpha right now to take care away one thing uh YouTube shorts ads platform just launched crushing it like that's the best place to be spending money on digital ads right now but we spend money everywhere man like you know at least 10 of our money is going to influencers probably three to five percent going to TV we do a lot of stuff with email newsletters but…
Escúchalo en el minuto 30:04
Canales de adquisiciónYouTube Shorts es la mejor plataforma para invertir en publicidad digital ahora mismo. Sean Frank, CEO de Ridge Wallet, considera que YouTube Shorts es la mejor plataforma para gastar dinero en publicidad digital en este momento, por su bajo CPM y alto potencial de distribución orgánica.
money like look I spend I mean today I'll spend fifty thousand dollars on Facebook and I'll spend three on Tick Tock like it's the the distribution isn't really there the scale isn't really there yet uh but this is this is secret hacks Alpha right now to take care away one thing uh YouTube shorts ads platform just launched crushing it like that's the best place to be spending money on digital ads right now but we spend money everywhere man like you know at least 10 of our money is going to influencers probably three to five percent going to TV we do a lot of stuff with email newsletters but…
Escúchalo en el minuto 30:04
Investigación de mercado y clienteNueva categoría de producto: primero al cliente existente, luego a la nueva audiencia. Ridge Wallet validó su expansión de producto (key organizer) en un mes siendo el más vendido del mundo, superando a Orbit Keys. Ventaja: mejor marketing de adquisición que cualquier marca niche. La expansión de producto funciona mejor cuando se lanza primero a la base de clientes existente.
big success is we sell a key organizer super boring a lot of people in the room no idea what I'm talking about there's a company called orbit based on Australia uh and it's like a thing for you like your house keys or whatever we launched it and that month became the best-selling key organizer on Earth so like orbit Keys doing maybe a million a month or whatever and we immediately uh beat them so just from your similar to what Rob was saying to your existing customer base yeah yeah just selling your customer base and then you know we're just way better acquisition marketing than somebody like…
Escúchalo en el minuto 15:50
Las marcas legacy duran porque sus familias las controlan a largo plazo y piensan generaciónally
Estrategia y decisiones de negocioLas marcas legacy duran porque sus familias las controlan a largo plazo y piensan generaciónally. Las grandes marcas heredadas europeas perduran porque las familias las controlan durante décadas, lo que permite pensar en múltiples generaciones. El control familiar evita la presión del VC por crecimiento rápido y salida, y preserva el alma de la marca cuando el fundador se va.
results just compound do waitlist through it uh yes we also whitelist through it and the whole idea is that eventually other brands will want to whitelist through it right there's a company called the quality edit I think you interviewed them yeah right they're doing that with like the female space really well so like another men's brand I know the guy chased from blenders he sells sunglasses this is an example uh they might want to whitelist through our page and then we get the benefit of just additional traffic and whatever else so uh yeah it was just opportunistic so I made the buy it's a…
Escúchalo en el minuto 42:26
Construir un equipo local en China (QA, QC, sourcing) es clave para escalar la manufactura
Estrategia y decisiones de negocioConstruir un equipo local en China (QA, QC, sourcing) es clave para escalar la manufactura. Ridge Wallet contrató un ciudadano estadounidense radicado en China para construir un equipo local que gestione QA/QC, sourcing de nuevas fábricas, pagos a proveedores, muestras y toda la relación con fabricantes. Esto permite escalar la operación de manufactura sin depender de intermediarios.
[Music] are they doing what does that look like like what's your factory situation yeah so uh part of professional organizing you know I used to own an agency business I'm joining this family business selling wallets and I'm like how do you guys order these and they're like we just emailed this guy in China and I'm like oh [ __ ] we need someone who speaks Mandarin so I hired this guy Leo who was living in New York and uh he's a U.S citizen but he's from China and he went back there to see his family before covid and he's been trapped in China for the past like three years uh but you know…
Escúchalo en el minuto 35:07
Caso: marca de anillos de silicona que colapsó por depender de un solo retailer
Estrategia y decisiones de negocioCaso: marca de anillos de silicona que colapsó por depender de un solo retailer. Una marca de anillos de silicona en rápido crecimiento tuvo un PEO masivo de Target, compró inventario en American Express, perdió la fecha de entrega, Target canceló el pedido, y la empresa tuvo que venderse por centavos. La dependencia de un solo retailer con obligaciones de inventario es un riesgo existencial.
um you know I know a brand uh they've changed hand a couple times they make silicone Rings they were really fast growing they had this massive peo from Target uh it was like you know five six million or whatever and they're like oh cool we'll just buy the inventory on American Express like we don't need we don't need debt or whatever else we just buy American Express they missed their delivery day Target cancels the pl so it's okay we don't want that anymore we're not going to pay you the company was distressed at that point they had to sell for pennies on the dollar and uh it ruined with…
Escúchalo en el minuto 13:02
El sitio propio permite ads propios sobre contenido que ya rankea en SEO no brandeado
Estrategia de contenidosEl sitio propio permite ads propios sobre contenido que ya rankea en SEO no brandeado. Tener un sitio editorial propio permite ejecutar una estrategia dual: (1) posicionar contenido SEO no brandeado orgánicamente y (2) correr anuncios propios dentro de ese sitio que dirijan al producto de la marca. Esto reduce el costo de adquisición al ser distribución propia.
non-branded search so if somebody types in best wallet everydaycarrier.com can rank for that organically and I can also run ads on every carrier.com that says we reviewed the best wallets and they click our page and it says ridgewell it's the best wallet so there's a non-braded search play to it uh the
Escúchalo en el minuto 40:51
Investigación de mercado y clienteYeti Playbook: lujo para audiencias de hombres con hobbies caros que nadie targeting. Yeti encontró un lujo sin competir: hombres que gastan fortunas en sus hobbies (pesca, caza, trucks) no recibían marketing de lujo. Yeti les vendió coolers de 300 dólares. El playbook para marcas DTC es similar: buscar audiencias ricas de hobbies que nadie targeting y ofrecerles calidad premium.
took BC money all private Equity along the way uh once again a category nobody cared about nobody cared about water bottles they're like you're gonna do [ __ ] what in this space or coolers and they built you know a luxury item uh for a class of people who typically don't get marketed to for luxury items right uh the most the best-selling car in America is the Ford F-150 it starts at 75 000 right so there's a bunch of guys out there who are fishing and hunting and spending a [ __ ] ton of money on their hobbies that don't get catered to to the luxury space Yeti was able to take advantage of…
Escúchalo en el minuto 15:01
onlinejobs.ph permite publicar ofertas de empleo gratuitas y recibir candidatos de Filipinas en volumen
Estrategia y decisiones de negocioonlinejobs.ph permite publicar ofertas de empleo gratuitas y recibir candidatos de Filipinas en volumen. Para contratar VAs remotos en Filipinas, Sean Frank recomienda onlinejobs.ph: se publican ofertas de trabajo gratis y se recibe un alto volumen de candidatos cualificados en e-commerce y marketing digital.
director of remote he's basically a cheapest cheapest staff role in other companies and his whole job is to make sure that like our culture as a remote company works so like he built [ __ ] in notion and he he that's and hires all the va's there's a bunch of companies that specialize in hiring town in the Philippines there's a website called onlinejobs.ph you can just put job postings up there for free I think and then you just get a ton of applicants
Escúchalo en el minuto 33:05
Oferta y precioDe AOV 65 a 150: reposicionar de 'billetera' a 'fibra de carbono'. Ridge Wallet quintuplicó su AOV de $65 a $150 reposicionándose de vender 'billeteras para hombres' a vender 'fibra de carbono para hombres'. Cambiar el framing de categoría permite cobrar más por el mismo producto. El cliente nuevo promedia $130-140 en su primera compra.
whatever no one makes a wall of purchase like that like we just we were so used to talking about our items like that where it was like oh yeah those are the different types of wallets but a normal guy has never made that choice for making a wallet purchase so we had to like rebuild that up right and like also like what we stood for we're like oh yeah we're just gonna sell wallets to guys we're like no no we're actually going to sell carbon fiber to guys like we're trying to become a material company so uh what they led us to do is just charge way more uh I always goes to charging more the…
Escúchalo en el minuto 17:36
TikTok no sobrevivirá dos años más; YouTube ganará porque paga a los creadores
Canales de adquisiciónTikTok no sobrevivirá dos años más; YouTube ganará porque paga a los creadores. Sean Frank predice que TikTok no sobrevivirá como plataforma dentro de dos años. La razón: YouTube pagó US a creadores en 2022, mientras TikTok pagó cero por millones de views. Sin monetización, los creadores migran a YouTube. Meta y YouTube presionan a TikTok simultáneamente.
yeah yeah uh but I don't think tick tock's gonna be around for two years and that Twitter thread is saying that like YouTube is gonna offer monetization in a way that Tick Tock can never compete with and that was just announced like two days ago that uh the so my wife's a tick tock influencer uh and you know she'll she has multiple videos they'll get millions of views or whatever Tick Tock will get we'll get through zero dollars for all those views where YouTube will you know you can make a living on it and that's why YouTube's always been the holy grail for influencers to build a network um…
Escúchalo en el minuto 47:10
MER mejora cada año cuando alineas creativo + landing page + oferta en un stack coherente
ConversiónMER mejora cada año cuando alineas creativo + landing page + oferta en un stack coherente. El MER de Ridge Wallet (revenue total / total ad spend) mejora cada año porque mejoran los tres componentes juntos: el creativo de ads, la landing page y la oferta. El unlock es que los tres hablen el mismo idioma y cuenten la misma historia. No basta con optimizar uno solo.
the big unlock this year right we've had no drop off in efficiency of Facebook from 2020 until now our mer so like total dollars of Revenue divided by total long you spend has gone up every single year and a lot of that is we've gotten better at creative better at ads and really tying those things together so like uh the creative of what you're trying to sell someone on Tick Tock ad or whatever uh the offer and the landing page all need to come together in a cohesive like stack if you think about like you're really trying to win someone's attention Tick Tock is the funnest app on Earth you…
Escúchalo en el minuto 23:54
Marca y posicionamientoLa marca no importa hasta los 50M: primero escala, luego construye marca. La marca como activo estratégico no importa hasta que una marca DTC está facturando 50M+. Antes de eso, es mejor enfocarse en crecimiento agresivamente. 'Brand' es un lujo que requiere escala previa. Hasta los 50M, todo es transitorio y efímero.
knife they're a non-profit in Switzerland they're doing 500 million dollars a year it just takes a long time to get to that scale and it like once you get over 100 million it's just all about like nailing product expansion you can hack your way I posted on Twitter uh brand doesn't matter until you're doing 50 million a year it doesn't matter at all if you're doing under 50 million dollars a year uh you're like oh I have to pick my customers or my community it's like it's really just a fleeting moment in time like you know your social following whatever else you're one move away from them…
Escúchalo en el minuto 13:58
Gastar 50% del revenue en marketing si tu MER es 2X para estar default alive
Canales de adquisiciónGastar 50% del revenue en marketing si tu MER es 2X para estar default alive. LVMH/Nike gastan 5-8% en marketing. Una marca DTC debería gastar 50% si logra MER de 2X, lo que la hace default alive incluso si solo break-even. Ridge opera break-even con MER de 1.4X. Con MER de 3X estás imprimiendo dinero. La clave es construir márgenes que aguanten el CAC.
if you're an lvmh or you're a coach coach called tapestry or Nike they spend five to eight percent of their revenue on marketing we're not them I think you should spend 50 of your revenue on marketing I think a 2X mer is uh at least should make your company default alive and then that's super aggressive and you got to probably look at me like that's that's crazy uh Ridge operates that we can break even at a 1.4 so like part of our success is that I can sell you know a dollar and 40 worth of Watts from your dollar I give to meta you have to build in your margins for that your cost to go to…
Escúchalo en el minuto 25:40
Estrategia y decisiones de negocioCrecer más del 50% anual es perjudicial: los desastres ocurren al doblar. Cada desastre en Ridge Wallet ocurrió cuando intentaron crecer más del 50% anual. Al doblar, el accounting de devengo genera una factura de impuestos sin poder escribir el inventario, hay que pedir deuda, y los problemas operativos se multiplican. La velocidad hace que el cuchillo sea más letal.
what would it take yeah so the biggest shift and maybe this is some good advice for people in the room is is we're really trying to slow down every bad thing that's happened in our business is happen when we try to grow more than 50 every year so we've had a couple of years we've doubled and it's a disaster right like you know uh someone said the only thing that can kill your business is Dad uh and that's a hundred percent correct right like also speed just makes that knife on the steering wheel a lot more deadly right um you know we've had instances where like if you're if you do accrual…
Escúchalo en el minuto 12:09
El whitelisting de otras marcas en el sitio propio es el siguiente paso del modelo publicitario
Canales de adquisiciónEl whitelisting de otras marcas en el sitio propio es el siguiente paso del modelo publicitario. Ridge Wallet ya hace whitelisting (mostrar sus ads a audiencias de everydaycarry.com). El siguiente paso es que otras marcas paguen por whitelisting en el mismo sitio, generando ingresos publicitarios adicionales sobre una audiencia ya segmentada por interés en EDC.
do waitlist through it uh yes we also whitelist through it and the whole idea is that eventually other brands will want to whitelist through it right there's a company called the quality edit I think you interviewed them yeah right they're doing that with like the female space really well so like another men's brand I know the guy chased from blenders he sells sunglasses this is an example uh they might want to whitelist through our page and then we get the benefit of just additional traffic and whatever else so
Escúchalo en el minuto 42:28
Investigación de mercado y clienteComprar un sitio de affiliate para ver qué productos quieren los clientes antes de crearlos. Ridge Wallet compró everydaycarry.com (1M/año en revenue de afiliación) para ver qué productos de EDC (cuchillos, gear) compra la gente en Amazon. Con ese dato, diseña la versión Ridge antes de lanzar. Es inteligencia de producto a bajo costo.
yes we basically built all our products ourselves we've made a couple oppositions with like other companies uh so some guy was talking about content and commerce coming together earlier so I bought a website called everydaycarry.com uh it's like a men's gear website I was talking to uncreate I was talking to cool material I ended up buying this one because frankly it was the cheapest one uh and you know we're using so the way those websites work right it has like a million dollars a year in affiliate Revenue so I can see what everyone's buying on Amazon through that website right so I can see…
Escúchalo en el minuto 19:26
+25% en conversión mejorando el menú dropdown: no hables de materiales, habla de uso
Conversión+25% en conversión mejorando el menú dropdown: no hables de materiales, habla de uso. Ridge Wallet subió sus tasas de conversión un 25% cambiando el dropdown del sitio. En vez de mostrar materiales (carbon fiber, titanium), pasaron a mostrar use cases. Un cliente normal nunca eligió su billetera por material; hablan un idioma que el cliente no usa.
but really what happened to take us from that 50 to 100 was just a basic we had to rethink every piece of our business that like we like we made it we made way way too many assumptions like when you're building your company and you're doing you know 20 million dollars you've been doing it for like two or three years or five years or whatever you have so many assumptions about your business that are totally wrong like here's a good example we increased conversion rates across the site by 25 uh because our drop down menu used to say like it would be say wallets and you click on it it would say…
Escúchalo en el minuto 16:59
Estrategia y decisiones de negocioPara gestionar un VA, hay que darle trabajo concreto; el rechazo inicial se resuelve en dos meses. Cuando se asigna un VA a un empleado, lo primero que dice es 'no lo necesito'. La solución es asignarle trabajo específico (por ejemplo: en Facebook Ads Library, extraer los 100 mejores conceptos de anuncios y rankearlos). En dos meses, ese mismo empleado dice que es lo mejor que le ha pasado.
this is what I tell people if you want to be a manager you have to manage somebody right and everyone in this room is probably fired somebody right so most of my team in the U.S is like 25 they've been with Ridge for two or three years or whatever and so we want to pay them a lot of money we want them to move up right like we've only ever had three people quit right all three of them went to go start their own companies so like we want to create that culture and if you want to be a leader you got to [ __ ] lead somebody so it's like okay this is your VA and they're like well I don't need one…
Escúchalo en el minuto 31:15
Estrategia de contenidosConstruir la audiencia antes de lanzar el producto es la mejor estrategia para una marca DTC. Si se parte de cero hoy, Sean Frank recomienda construir audiencia primero (influencer, Twitter, YouTube) y luego lanzar el producto. Los negocios de influencers llegan a US sin gastar un dólar en ads. La secuencia es: audiencia → producto, no producto → audiencia.
them a big part of The Voice or or creators starting their do you see that being like a big Trend that that could uh you know disrupt the industry if I was starting a brand today I would make sure I built my audience first right linear Commerce yeah it's you know very you know someone had very smart advice I think was the guy from Ottawa socks that uh you shouldn't run ads to get to a million dollars and it's you know as an influencer you can get two million dollars without running ads at all right when I talk to influencer businesses they never run ads because they're like no I'm just gonna…
Escúchalo en el minuto 49:25
Estrategia y decisiones de negocioTodo US hire >100K recibe un VA full-time en Filipinas. Ridge Wallet tiene ~100 VAs en Filipinas. Cada empleado en US ($100K+ promedio) tiene un VA full-time filipino que maneja email, agenda, y tareas admin. Esto libera al US hire para trabajo de alto impacto. El programa de influencers funciona con 30 personas en Filipinas dedicadas.
learn how to use overseas contractors as much as possible so we have a team of about a hundred virtual assistants in the Philippines so everyone on my team gets a full-time assistant so my U.S hires on average I pay people I think my average cost of employees over a hundred thousand dollars a year and that's expensive per hour I don't want them checking their own email I don't want them scheduling their own meetings or whatever they all get a full-time assistant in the Philippines and then most of our customer service is done by people in the Philippines we have one director in the US who…
Escúchalo en el minuto 29:03
Ofrecer una prueba pagada antes de la entrevista elimina candidatos que no saben trabajar
Estrategia y decisiones de negocioOfrecer una prueba pagada antes de la entrevista elimina candidatos que no saben trabajar. Ridge Wallet ofrece una prueba pagada (US en Filipinas, US en EE.UU.) antes de hablar con cualquier persona de la empresa. El candidato debe demostrar que puede hacer el trabajo. Así se filtran los que solo hablan sin producir.
and then we do this for every single hired even our us hires we offer a paid test so before you get to speak to me or anyone else in the company whoever the hiring managers has to write up a test and we could just give it to them like hey look we'll give you in the Philippines it's like 20 for designers in the US it's 200 it's like do this test prove you can do the work and then we'll have an interview and that that way you're not getting just bullshitters right like work speaks for itself right thank you was that Brian
Escúchalo en el minuto 33:30
Las agencias DTC siguen la regla 80/20; las buenas se pueden comprar por el flujo de caja de sus clientes clave
Estrategia y decisiones de negocioLas agencias DTC siguen la regla 80/20; las buenas se pueden comprar por el flujo de caja de sus clientes clave. La mayoría de agencias DTC cumplen la regla 80/20: unas pocas cuentas generan la mayor parte de los ingresos. Si tu mejor cliente es una agencia, puedes comprarla junto con su equipo y el flujo de caja de sus clientes DTC, evitando años de construir desde cero.
everybody is I think you can so Ridge about my agency I recommend buying an agency if you find a freelancer or an agency or a partner that you really love uh the way their business works is they have like two good companies and like eight shitty companies that's the reality of my agency basically every Agency on Earth is like it's like really the 80 20 rule uh and they should want to align with the best so if you're using a small agency or freelancer like you should be like hey look how to make this a permanent relationship uh I would then
Escúchalo en el minuto 38:42
Para construir una marca DTC de US sin VC hay que pensar incrementalmente y generar efectivo
Estrategia y decisiones de negocioPara construir una marca DTC de US sin VC hay que pensar incrementalmente y generar efectivo. El modelo VC no sirve para construir una marca DTC que busque US en una década: la presión por retorno rápido destruye la marca. La alternativa es pensar incrementalmente, generar caja y construir sin la presión de los inversores.
think like you know I used to have sales reports on my phone I like I used to be in every marketing call I used to be signing every influencer deal and when you move out of that performance role and you really start thinking like the longevity of this over I'm not gonna say hundreds of years but over a decade really trying to get to a billion dollars you can't do the VC model because we've we've seen that not work so then you have to actually like think incrementally about building something over time so anyway that's something to think about just looking I got a couple of
Escúchalo en el minuto 45:12
Oferta y precioRidge Wallet busca lanzar al menos 20 productos nuevos al año. Ridge Wallet se fija como objetivo interno lanzar un mínimo de 20 productos nuevos por año (nuevos colores, nuevas categorías) para mantener la cadencia de novedad en marketing y ventas.
um so we're trying to at least 20 new products a year
Escúchalo en el minuto 35:00
Mostrar cómo funciona el producto en video es el unlock #1 de conversión
ConversiónMostrar cómo funciona el producto en video es el unlock #1 de conversión. El mayor unlock de conversión en Ridge Wallet es mostrar cómo funciona el producto en video lo antes posible. La gente quiere ver el mecanismo. El stack completo: creativo TikTok + landing page + offer deben ser cohesionados. Si alineas el creativo con la landing page con la oferta, la conversión sube drásticamente.
cro tests like so what were some wins there yeah the number one thing is people want to see how it works so like if you're selling like a non-aesthetic product or like anything with a slightly different function just like the big unlock this year right we've had no drop off in efficiency of Facebook from 2020 until now our mer so like total dollars of Revenue divided by total long you spend has gone up every single year and a lot of that is we've gotten better at creative better at ads and really tying those things together so like uh the creative of what you're trying to sell someone on Tick…
Escúchalo en el minuto 23:40
Ridge Wallet tenía US de ingresos anuales cuando Sean Frank se incorporó como CEO
Estrategia y decisiones de negocioRidge Wallet tenía US de ingresos anuales cuando Sean Frank se incorporó como CEO. Ridge Wallet facturaba US anuales cuando Sean Frank llegó como CEO. La entrevista cubre cómo escaló la marca desde ahí, con el objetivo de llegar a US+.
like annual revenues when I met them they were doing five million dollars a year and how did it come about how did they
Escúchalo en el minuto 37:17
Estrategia de negación: Hermès拒绝 vender Birkin para proteger la marca
Marca y posicionamientoEstrategia de negación: Hermès拒绝 vender Birkin para proteger la marca. Hermès rechaza ventas de 20K (Birkin) aunque tengan el producto. Esa restricción crea más valor de marca que vender todo lo que hay. La capacidad de negarse es una visión multi-generacional. LVMH tiene la misma capitalización que Walmart con la mitad de la facturación por esa disciplina.
100 billion like true like icon status Brands like private Equity doesn't really work either because you know Hermes none of us can buy a Birkin like we cannot go to the store and buy one they'll tell us they don't have them even if they're in the back like they'll say no and that's a 20 000 bag right so like their strategy is to deny a twenty thousand dollar sale that's a [ __ ] ton of Revenue a private Equity gotta be like let's make more of these things people want them right but uh their ability to like have that restraint is it's a multi-generational outlook for a business right like…
Escúchalo en el minuto 22:41
La línea de bolsas de Peter McKinnon para Nomadic generó US y salvó la empresa
Estrategia de contenidosLa línea de bolsas de Peter McKinnon para Nomadic generó US y salvó la empresa. Nomadic estaba al borde de cerrar cuando lanzó una línea de bolsas con el creador Peter McKinnon. La colaboración generó US en capital fresco y salvó la empresa. Es un caso real de cómo una asociación con un creador puede transformar la situación financiera de una marca.
have this right Peter McKinnon is a photographer I think he's actually also Canadian a lot of Canadian love lately uh he did a bag line with nomadic and that saved their entire business I know some numbers from nomadic but like they were going to go out of business they're like let's do this Peter McKinnon bag line and it bumped 10 million dollars with capital in their business so uh yeah for sure that's gonna be the future
Escúchalo en el minuto 51:20
Las marcas lideradas por creadores van a ganar los próximos 5 a 10 años
Marca y posicionamientoLas marcas lideradas por creadores van a ganar los próximos 5 a 10 años. Sean Frank predice que los próximos 5-10 años serán dominados por marcas lideradas por creadores. La distribución gratuita, la afinidad con el cliente y la autenticidad son ventajas estructurales. Si no se es creador o no se trabaja con uno, se pierde competitividad.
creator-led businesses are going to win the next five to ten years and if you guys aren't thinking about being a Creator or like it just it's a gift from God [ __ ] free distribution like customer Affinity all those things of like you know outdoor voices said they had turns out it didn't right but now wait for the first time people actually do have this right Peter McKinnon is a photographer I think he's actually also Canadian a lot of Canadian love lately uh he did a bag line with nomadic and that saved their entire business I know some numbers from nomadic but like they were going to go out…
Escúchalo en el minuto 51:01
Canales de adquisiciónIr 100% en orgánico porque Meta va a quitar inventory de ads para Reels. Instagram va a quitar espacio publicitario de Reels para promover contenido orgánico porque TikTok es una amenaza existencial. Por primera vez desde Obama hay distribución gratuita disponible. Caso: Mini Katana (cuchillos) va a hacer 10M exclusivamente con orgánico porque no puede pagar ads. El orgánico es un regalo temporal.
doing less than 50 million dollars a year I would exclusively focus on content creation and everyone's talking about that right but like here's a tactical reason why Instagram is going to take away ad space from reels uh to promote organic content interviews because they see Tick Tock as an existential threat right so for the first time since Obama we can get free distribution from these players and what they're going to do is just charge more to offset the revenue so if really like your first million your first five million I I mentored this guy I think he's a company called uh mini katana…
Escúchalo en el minuto 26:41
Los lanzamientos de nuevos productos mantienen los anuncios frescos y evitan que se aburran
Oferta y precioLos lanzamientos de nuevos productos mantienen los anuncios frescos y evitan que se aburran. Ridge Wallet descubrió que cuando no hay lanzamientos de producto, los anuncios se vuelven aburridos porque no hay nada nuevo que comunicar. Los lanzamientos de nuevos colores y productos reavivan la creatividad publicitaria y justifican mayor gasto.
you have to give customers a reason to shop like that's like the big thing right like if it's if it if it's not new or special there's not a sales event or whatever it's like what we found is that just like our ads got boring right when we're spending so much [ __ ] money there's only so many things you could talk about the new product launches and new colors really helped that um so we're trying to at least 20 new products a year
Escúchalo en el minuto 34:41
Adquirir un sitio de contenido EDC (everydaycarry.com) da SEO, comunidad y datos de afiliados
Canales de adquisiciónAdquirir un sitio de contenido EDC (everydaycarry.com) da SEO, comunidad y datos de afiliados. Ridge Wallet compró everydaycarry.com por: (1) SEO no brandeado, ranking para 'best wallet'; (2) datos de afiliados sobre qué productos son populares en qué comunidades; (3) comunidad existente; y (4) modelo de negocio publicitario donde marcas pagan por aparecer. Lo compró barato porque los dueños solo lo exprimían.
yeah so uh we bought everydaycarry.com uh it's a you know it's really an SEO website you know they have a big Instagram account they have a Facebook Community whatever um we worked in for a long time and you they just ran out really poorly and it just made sense for us to make an acquisition on it so how do we use it uh there's a company called bellroy they're also Australian they they own a company called I don't [ __ ] remember uh they they own like a backpack review website so like there was already The Playbook of doing this like you can buy a propaganda arm you can buy a PR arm and it…
Escúchalo en el minuto 40:07
Se necesita un ecosistema de creadores full-time para que una plataforma tenga distribución real
Canales de adquisiciónSe necesita un ecosistema de creadores full-time para que una plataforma tenga distribución real. La tesis central: se necesitan creadores full-time para que una plataforma tenga distribución. Si no les pagas, no pueden ser full-time. Por eso YouTube gana: MrBeast gasta millones en sus videos porque YouTube lo paga. TikTok tiene adolescentes que no pueden vivir de la plataforma.
can they get more fun the whole like really the thesis of that is that you need full-time creators to have a platform and if you're not going to pay your creators they can't be full-time why is YouTube become this model or whatever it's because you could have Mr B spending millions of dollars on these videos or whatever uh and you know Tick Tock you have 17 year olds who uh you know their best shot at making a living at it is to go to YouTube which is just like not a good outlet for your uh for your platform
Escúchalo en el minuto 48:30
Las fábricas de ingeniería son caras pero permiten crear categorías de producto premium
Oferta y precioLas fábricas de ingeniería son caras pero permiten crear categorías de producto premium. Ridge Wallet trabaja con fábricas de ingeniería en China (más caras que el promedio) porque permiten lanzar nuevas categorías de producto. El keytag se vende a porque fue inventado por Ridge; la fábrica contribuyó al desarrollo, lo que justifica un precio premium.
have two sole manufacturers in China so people who'd like essentially consider them like engineering factories they're not the cheapest they're actually super expensive but like they'll work with you to launch new categories like the key thing we charge like 95 for it because we invented it it was like a bunch of [ __ ] work had to go into it uh they're a great partner for that and you know we even hire like engineering talent in China uh because there's a lot of people doing great work there and then we have like one commodity manufacturer so you could find someone who could make your stuff…
Escúchalo en el minuto 36:20
Marca y posicionamientoCada marca que llega a 1B tiene un segundo anchor product. El desarrollo de producto es lo más crucial para cualquier marca DTC que quiera ir de 100M a 1B. Puedes forzar 100M con un solo SKU, pero para ser una lifestyle brand de 1B necesitas un segundo anchor product. Cada marca de 1B lo tiene.
the product development is the most crucial piece for any brand going from 100 to a billion like you can force 100 million dollars off of one SKU one category like uh but if you really want to be a billion dollar Lifestyle brand or whatever every single one of them has a second Anchor Point right like
Escúchalo en el minuto 21:56
Marca y posicionamientoCada marca que llega a 1B tiene un segundo anchor product. El desarrollo de producto es lo más crucial para cualquier marca DTC que quiera ir de 100M a 1B. Puedes forzar 100M con un solo SKU, pero para ser una lifestyle brand de 1B necesitas un segundo anchor product. Cada marca de 1B lo tiene.
the product development is the most crucial piece for any brand going from 100 to a billion like you can force 100 million dollars off of one SKU one category like uh but if you really want to be a billion dollar Lifestyle brand or whatever every single one of them has a second Anchor Point right like
Escúchalo en el minuto 21:56
Estrategia y decisiones de negocioEsperar el fondo: comprar marcas DTC por 30 centavos cuando colapsen los aggregators. El mercado está esperando que el piso caiga. Los aggregators (Thrasio, etc.) perdieron mucho dinero y ya no compran. Hay sharks comprando marcas DTC por 30 centavos del dólar sobre valor de inventario. Quien tenga cash va a tener oportunidades enormes en 2022-2023.
um I was gonna buy a couple more Brands but I'm honestly waiting for like the floor to fall out I think there's a lot of sharks circling right now got a friend Roman and he's like yeah I'm trying to buy companies for 30 cents on the dollar for inventory value because there's just no buyers of unprofitable e-commerce companies right it used to be the aggregators right but the aggregators actually lost a ton of money they're they're having hard times on themselves so there's like a whole category of brand that's been created hopefully nobody in this room there's been a whole category of Brands…
Escúchalo en el minuto 20:02
Estrategia y decisiones de negocioEsperar el fondo: comprar marcas DTC por 30 centavos cuando colapsen los aggregators. El mercado está esperando que el piso caiga. Los aggregators (Thrasio, etc.) perdieron mucho dinero y ya no compran. Hay sharks comprando marcas DTC por 30 centavos del dólar sobre valor de inventario. Quien tenga cash va a tener oportunidades enormes en 2022-2023.
um I was gonna buy a couple more Brands but I'm honestly waiting for like the floor to fall out I think there's a lot of sharks circling right now got a friend Roman and he's like yeah I'm trying to buy companies for 30 cents on the dollar for inventory value because there's just no buyers of unprofitable e-commerce companies right it used to be the aggregators right but the aggregators actually lost a ton of money they're they're having hard times on themselves so there's like a whole category of brand that's been created hopefully nobody in this room there's been a whole category of Brands…
Escúchalo en el minuto 20:02
Seguir leyendo
Esta es una de las 1872 entrevistas despiezadas. Puedes
ver todas, leer las ideas por tema o
empezar por la ruta guiada si no sabes por dónde.