Well, hello and welcome to the eCommerce podcast
Matt Edmundson:with me, your host, Matt Edmundson.
Matt Edmundson:The eCommerce podcast is all about helping you deliver eCommerce wow.
Matt Edmundson:And to help us do just that, I am chatting with today's guest, Ryan Flannagan from
Matt Edmundson:Nuanced Media about grow your business with growth driven advertising on Amazon.
Matt Edmundson:Yes, That is actually as sexy as it sounds.
Matt Edmundson:So we are gonna get into that.
Matt Edmundson:But before I jump into that, uh, with Ryan, uh, let me suggest
Matt Edmundson:a few other e-commerce podcast episodes that I think you'll enjoy
Matt Edmundson:listening to around this whole topic.
Matt Edmundson:Uh, there's five steps for..
Matt Edmundson:I need to start that sentence again.
Matt Edmundson:Five Steps for successful Amazon branding with Drew Morgans, who's a top bloke,
Matt Edmundson:and also understanding growth hacking for your business with Chris Raven.
Matt Edmundson:You can find these and our entire archive of episodes on our website,
Matt Edmundson:for free @ecommercepodcast.net.
Matt Edmundson:Now this episode is brought to you by the eCommerce cohort, uh, which is
Matt Edmundson:basically there to help you deliver eCommerce wow to your customers.
Matt Edmundson:Ryan, I'm sure you've met over the years, uh, folks who have got stuck
Matt Edmundson:with their eCommerce website or they've got siloed just working into
Matt Edmundson:one or two areas of their business.
Matt Edmundson:And miss the big picture.
Matt Edmundson:Well, I was the same, exactly the same.
Matt Edmundson:Uh, I nearly lost my entire business as a result of it.
Matt Edmundson:So the eCommerce cohort is here to solve that particular problem.
Matt Edmundson:Yes, it is.
Matt Edmundson:It is like, it's a lightweight, uh, membership group.
Matt Edmundson:Kind of works similar to a mastermind, uh, but it's kinda like you get involved,
Matt Edmundson:you do stuff, you work together and it covers all the areas of eCommerce
Matt Edmundson:to stop you getting siloed, stop you losing sight of the big picture.
Matt Edmundson:It's just a great thing to get involved with if you are involved with eCommerce.
Matt Edmundson:If you've got any questions or you wanna know more, checkout ecommercecohort.com or
Matt Edmundson:you can email me matt@ecommercepodcast.net with any questions cuz I think
Matt Edmundson:it's definitely worth checking out if you are in eCommerce.
Matt Edmundson:So all of that said, let's get in today's topic with Ryan, who
Matt Edmundson:is the CEO of Nuanced Media.
Matt Edmundson:He has spent more than 15 years in eCommerce, uh, multichannel
Matt Edmundson:digital marketing, and third part, third party marketing places.
Matt Edmundson:He's worked with hundreds of companies to establish best practices, focusing
Matt Edmundson:on the 20% that produces 80% of the revenue, the pay Pareto principle.
Matt Edmundson:Now, Ryan is passionate, uh, a passionate thought leader in eCommerce.
Matt Edmundson:He has been interviewed and quoted by the who's who, Buzzfeed,
Matt Edmundson:Modern Retail and many others.
Matt Edmundson:So to crown off his whole life's work and achievements, he thought
Matt Edmundson:the one thing I need to do now is appear on the eCommerce podcast.
Matt Edmundson:Uh, Ryan, thank you so much for joining us.
Matt Edmundson:Great that you are here bud.
Ryan Flannagan:Thanks Matt.
Ryan Flannagan:My bucket list is now complete or will be in about an hour.
Matt Edmundson:That's exactly it.
Matt Edmundson:Right?
Matt Edmundson:That's exactly it.
Matt Edmundson:Which is just fantastic.
Matt Edmundson:Oh, it's great that you are here.
Matt Edmundson:Now at Nuanced Media, right?
Matt Edmundson:We talked about that in the bio.
Matt Edmundson:Uh, what, Tell me about Nuanced Media.
Matt Edmundson:What is it?
Ryan Flannagan:Sure.
Ryan Flannagan:Nuanced media's a boutique agency.
Ryan Flannagan:We've sold hundreds of millions online for our clients.
Ryan Flannagan:We've been around about 12 years.
Ryan Flannagan:But really what we do that I think is a little bit different than the
Ryan Flannagan:rest, is we basically won't work with you unless we can win for you.
Ryan Flannagan:We do analysis of anybody we bring in.
Ryan Flannagan:We don't just bring in anybody on that.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:. And it's really about more value driven based and helping people be
Ryan Flannagan:successful on the Amazon platform.
Ryan Flannagan:Um, and then we also help people with kind of multichannel on the
Ryan Flannagan:Shopify side of those things.
Ryan Flannagan:But along with that, um, if we aren't the good fit for you and we're not the
Ryan Flannagan:best fit for everybody, uh, we actually have a referral partner group that we
Ryan Flannagan:can refer out and find you the right fit for where you are in your business
Ryan Flannagan:right now to, to help you be successful.
Ryan Flannagan:Um, big fan of win-wins, this life is too short not to help people win.
Ryan Flannagan:Yeah.
Ryan Flannagan:Um, and that's really what we focus on at Nuanced Media.
Matt Edmundson:Fantastic.
Matt Edmundson:And so I like that.
Matt Edmundson:Uh, we won't work with you if we can't win with you.
Matt Edmundson:I think it's a great phrase.
Matt Edmundson:Um, it's, And have you found that you, the more successful you've got, nuanced
Matt Edmundson:media's got, and you've grown, you can start to be a lot more Choosy is the
Matt Edmundson:wrong phrase, but Do you know what I mean?
Matt Edmundson:You can, you can start to say to clients, Actually, we're
Matt Edmundson:gonna be a good fit for you.
Matt Edmundson:We're not gonna be a good fit for you cuz you've not got that where's
Matt Edmundson:payroll coming from this month?
Matt Edmundson:Fear hanging over your head.
Ryan Flannagan:There's that point.
Ryan Flannagan:But there's also in my gauge, um, sometimes a lack of
Ryan Flannagan:expectation setting for people.
Ryan Flannagan:You know, everybody, you see the YouTube ads all the time.
Ryan Flannagan:You see the Facebook ads, Somebody in a highrise talking about how
Ryan Flannagan:they made $5 million in two weeks doing this type of thing, $5.
Ryan Flannagan:Um, and that's just not the reality.
Ryan Flannagan:Right.
Ryan Flannagan:And you need to have real conversations with people before you engage in maybe
Ryan Flannagan:a 50, $200,000 engagement to say, if you're going to launch this project
Ryan Flannagan:or you're going to do this thing, this is what it's really gonna cost.
Ryan Flannagan:This is the ad spend.
Ryan Flannagan:It's a six month timeline to get there.
Ryan Flannagan:You need to get reviews, you need to do these things.
Ryan Flannagan:And we find that we have a lot more long-term relationships, and that's
Ryan Flannagan:what we're really in for is long-term.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:good relationships with people, um, by setting those expectations and being
Ryan Flannagan:upfront about 'em from the get-go.
Ryan Flannagan:Yeah.
Ryan Flannagan:And if you don't do that, you're just not doing people justice.
Ryan Flannagan:Right?
Ryan Flannagan:Yeah.
Ryan Flannagan:Um, and that's hard to sleep at night.
Ryan Flannagan:So that's why we try to avoid doing that.
Matt Edmundson:Yeah, I like that.
Matt Edmundson:And there's an integrity about it, isn't there?
Matt Edmundson:And um, and actually, ultimately, I think it makes your business more successful
Matt Edmundson:because you're, you know, you are, you are, you're picking clients and projects
Matt Edmundson:that actually that you can win for them.
Matt Edmundson:And conversely, they're gonna win for you.
Matt Edmundson:And so, You know that, I remember when we were starting out years
Matt Edmundson:ago, and maybe you've done this, maybe you haven't, Right?
Matt Edmundson:Especially with agency, where you just say yes to everything and everybody,
Matt Edmundson:cuz you just need to get started.
Matt Edmundson:Uh, and you say yes to people that you know full well, that you shouldn't because
Matt Edmundson:you know they're gonna be a royal pain in the backside, but you kind of, you still
Matt Edmundson:do it because you need to make payroll.
Matt Edmundson:I, I can only think of one client that we said no to in the early days and that's
Matt Edmundson:cuz he wanted us to do a porn website.
Matt Edmundson:And I was like, Dude, I've got, I've got a set of standards that I'm not prepared.
Matt Edmundson:Do you know what I mean?
Matt Edmundson:Uh, but, but other than that, and we found actually the, as soon as we started,
Matt Edmundson:uh, weeding out clients and saying no to clients, life became a lot easier because
Matt Edmundson:you could spot the ones that wanted.
Matt Edmundson:You know, the project for the least amount of money, but they were gonna
Matt Edmundson:give you the most amount of hassle.
Matt Edmundson:Right?
Ryan Flannagan:Right.
Ryan Flannagan:Yep.
Ryan Flannagan:And that, or gain into things that you actually don't do.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:and trying to do that for a client.
Ryan Flannagan:Right.
Ryan Flannagan:And then no one's happy at the end of the day.
Ryan Flannagan:So it's two parts.
Ryan Flannagan:It's a) making sure that you can be successful for a client by right
Ryan Flannagan:Projections by right models, and having the conversation like, Hey, it's a $50,000
Ryan Flannagan:gamble and it's a 50-50 shot here, right?
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, like, what does that look like?
Ryan Flannagan:Um, and we don't really know the data until we get into it either.
Ryan Flannagan:Um, as well as this is what we do very well, and if you need social media
Ryan Flannagan:advertising or something like that, we don't actually do that, but we do
Ryan Flannagan:have partners that we work with that can help you, and then we can help
Ryan Flannagan:manage that relationship as well.
Ryan Flannagan:Mm-hmm., And that's, that's pretty valuable too because unfortunately, and
Ryan Flannagan:Nuanced Media is a full service agency..
Ryan Flannagan:Um, but with that, we're full service on the Amazon and kind of Shopify
Ryan Flannagan:platforms, but we don't play in those other areas as much as we used to.
Ryan Flannagan:Yeah.
Ryan Flannagan:Um, because we weren't honestly doing it as well as we wanted to.
Ryan Flannagan:Yeah.
Ryan Flannagan:Um, so by managing that relationship, by speaking upfront about what you do
Ryan Flannagan:and what you don't do, and then having the network where you can help people,
Ryan Flannagan:even if you're not going to be a good fit for them, uh, I find that everybody
Ryan Flannagan:comes out significantly happier.
Ryan Flannagan:Um, and you can see our reviews on Clutch and all these type of things, and
Ryan Flannagan:it's worked very well for us by kind of taking more of that, uh, ethical stance.
Ryan Flannagan:And just at the end of the day, how do you live a good life?
Ryan Flannagan:How do you win?
Ryan Flannagan:How do you do that with everybody?
Ryan Flannagan:Right?
Matt Edmundson:Yeah.
Matt Edmundson:Yeah.
Matt Edmundson:No, it's, it's brilliant.
Matt Edmundson:Absolutely.
Matt Edmundson:And so over the years, I'm guessing as Nuanced Media's been going on,
Matt Edmundson:you've kind of, you've discovered your niche, your talents, you know
Matt Edmundson:what you're going to be good at, you know what you need to stop doing.
Matt Edmundson:Um, I always had a business coach who, um, who asked me the, you know, those
Matt Edmundson:questions, What are you gonna do more of, get rid of, and what you gonna do less of?
Matt Edmundson:And it's, as you grow mature, you figure that out.
Matt Edmundson:So one of the things that you guys have settled into is this whole area
Matt Edmundson:on Amazon and what you call growth driven, uh, advertising for Amazon.
Matt Edmundson:What do you mean by that phrase?
Matt Edmundson:And what, and then let's get into what, what you've sort of discovered there.
Ryan Flannagan:Yeah.
Ryan Flannagan:So what we're seeing, I'm going to take a step back and talk about what
Ryan Flannagan:we're seeing on Amazon in general, compared to, you know, during Covid or
Ryan Flannagan:before that or any of the time period.
Ryan Flannagan:When you look at the journey of Amazon, Amazon's been really growing at
Ryan Flannagan:exponential rate for a very long time.
Ryan Flannagan:Yeah, right.
Ryan Flannagan:Uh, five years ago you could throw up a picture and put up some words, uh, words.
Ryan Flannagan:You could put up some, uh, information and really start selling right
Ryan Flannagan:off the bat and make millions of dollars and grow quickly from that.
Ryan Flannagan:But that's not the same anymore On Amazon, we're seeing, uh, again, more and more
Ryan Flannagan:competitive on a weekly basis on this.
Ryan Flannagan:You're seeing, uh, more aggressive ad spend.
Ryan Flannagan:You're seeing basically a maturation of the market.
Ryan Flannagan:Um, if you look at the bell curve, I think we're, you know, still
Ryan Flannagan:going on the upside, but we're kind of at this level that things are
Ryan Flannagan:just getting more competitive and how do you start managing that.
Ryan Flannagan:Yeah.
Ryan Flannagan:Um, and essentially the old method of just managing pay per click and not
Ryan Flannagan:looking at data or segments or any of these type of things is just not
Ryan Flannagan:doing it, uh, for clients in general.
Ryan Flannagan:The other thing that we see on Amazon is, and we work with a number of different
Ryan Flannagan:catalogs and clients that way, but we typically see the Pareto principle, as you
Ryan Flannagan:were talking about earlier, but on Amazon, we call it kind of, um, on steroids.
Ryan Flannagan:So the Pareto principle 20% makes 80% of your revenue on Amazon.
Ryan Flannagan:Sometimes we see like 2% of your catalog is making 98% of your revenue.
Ryan Flannagan:Oh, wow.
Ryan Flannagan:It's, it's just really insane.
Ryan Flannagan:You'll see a SKU or Asin making, you know, um, a hundred thousand dollars
Ryan Flannagan:a month or, or more than that, uh, compared to the rest of the catalog.
Ryan Flannagan:That's why I'm making 50,000.
Ryan Flannagan:Right.
Ryan Flannagan:So what we need to do in that level is take our efforts and
Ryan Flannagan:make sure that we do not lose that competitive advantage on the, the
Ryan Flannagan:ASINs that we're really winning on.
Ryan Flannagan:Mm-hmm um, and when you look at that, uh, it comes down to a few different
Ryan Flannagan:things, but the first thing is, uh, setting up a segment analysis on this.
Ryan Flannagan:So one thing that's been hard to gauge on Amazon, and we
Ryan Flannagan:found this extremely valuable.
Ryan Flannagan:How is the market performing compared to how it used to perform?
Ryan Flannagan:So when looking at your listing, we actually do analysis and take
Ryan Flannagan:a, the top roughly hundred ASINs that are similar to your product.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, we're not talking about the beauty catalog.
Ryan Flannagan:If we're looking at lip liner or something like that.
Ryan Flannagan:We're talking about very tight competitive margins on who are these
Ryan Flannagan:people who are lip liners that have sold over $500 a month, that have over 300
Ryan Flannagan:reviews that are kind of in this space.
Ryan Flannagan:Right.
Ryan Flannagan:Um, and then you look at on a monthly basis of how you grew
Ryan Flannagan:compared to your competitors.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:. Now the important thing of looking at that is if your market's up
Ryan Flannagan:a hundred percent, you could be celebrating, you know, looking at,
Ryan Flannagan:hey, we're up a hundred percent month over month, but then you look at the
Ryan Flannagan:segment and the segment's up 300%.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, well then you're actually losing market share overall.
Ryan Flannagan:Hmm.
Ryan Flannagan:Um, and on the vice versa, like if you're down 15%, and we've had this right when
Ryan Flannagan:some clients were like, Hey, we're down.
Ryan Flannagan:What's going on?
Ryan Flannagan:You guys aren't doing your job?
Ryan Flannagan:Or, or what's happening?
Ryan Flannagan:And then we actually look at that and the market's actually down 30%.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, right?
Ryan Flannagan:So you have to really establish that, what I like to call kind of a control
Ryan Flannagan:group, to find out where you're doing, how you're doing on the marketplace,
Ryan Flannagan:and be able to have that real conversation of what's going on and how
Ryan Flannagan:do we position ourselves about that.
Ryan Flannagan:Now, once you have that established, it really comes into what we like
Ryan Flannagan:to call more data driven, uh, advertising, and really holistically
Ryan Flannagan:looking at your listings.
Ryan Flannagan:So this is a age old concept that we've been talking about.
Ryan Flannagan:Google pay per click and these type of things.
Ryan Flannagan:If you're running Google Shopping ads and somebody clicks on there
Ryan Flannagan:and they come to the website and it takes five seconds to load, you're
Ryan Flannagan:not gonna make as many sales, right?
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, and you kind of see that, and people take that for granted a little bit on the
Ryan Flannagan:Amazon platform because it is all kind of templated and systematic at those levels.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:true.
Ryan Flannagan:But what we've seen is kind of twofold is one, split testing, basically your
Ryan Flannagan:title of your listing, your main image, your a plus content, and you actually
Ryan Flannagan:have the capabilities go in there and split test those things on Amazon to
Ryan Flannagan:really increase your overall results.
Ryan Flannagan:The other side of this is when you're running your pay per click
Ryan Flannagan:campaigns and doing those things, you'll find words, you know, phrases
Ryan Flannagan:that convert better than others.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:. And what we do on that is we find those keywords that are really
Ryan Flannagan:converting and then integrate them back into the text of the listing.
Ryan Flannagan:Okay.
Ryan Flannagan:Because then you can organically rank higher for those and they have a higher
Ryan Flannagan:conversion rate, which will drive more sales, which will take the flywheel off
Ryan Flannagan:and really start growing on those things.
Ryan Flannagan:So we've gotten some pretty interesting results and I can
Ryan Flannagan:walk you through some of those.
Ryan Flannagan:But that's really kind of the concept of growth driven advertising is don't
Ryan Flannagan:treat your full catalog the exact same because it's not the full saying.
Ryan Flannagan:You know, look at your hero listings, the one that you're making really, really
Ryan Flannagan:strong, uh, return on investment on, and then have a real conversation of how do
Ryan Flannagan:we do this better than everybody else?
Ryan Flannagan:And a lot the time needed to do that because they are your hero
Ryan Flannagan:ones and we're seeing conquesting coming in all the time and you really
Ryan Flannagan:don't wanna lose your position.
Ryan Flannagan:But also we see by coming in and doing this really right for listings that
Ryan Flannagan:already have a good sales velocity we can sometimes do and 3x those.
Ryan Flannagan:Yeah.
Ryan Flannagan:Uh, by doing that, depending on the opportunity.
Matt Edmundson:So, uh, there's just a lot of common sense there, isn't there?
Matt Edmundson:And it's just that kind of, uh, that kind of idea, which I, I think so
Matt Edmundson:often we just don't think about.
Matt Edmundson:And that's actually, we've got a product here doing well,
Matt Edmundson:how can we make it do better?
Matt Edmundson:And, and so you're starting off with this Pareto principle, and actually this
Matt Edmundson:applies not just on Amazon, but I would say in the e-commerce space, you can look
Matt Edmundson:at your website catalog or your, um, uh, SKUs or ASINs as Amazon like to call them.
Matt Edmundson:You know what?
Matt Edmundson:Basically keep product listing.
Matt Edmundson:Um, and you can see what's performing well and you're like, How do we improve this?
Matt Edmundson:What, what you said, Ryan, that I liked, there's two things that I
Matt Edmundson:wanna dig into a little bit, if I may.
Matt Edmundson:Um, one was the segment analysis and actually just checking your, um, checking
Matt Edmundson:your growth against what's going on in your segment, how do you find that data?
Matt Edmundson:So if I sell to use your example, lip gloss, how do I find the, um, the other
Matt Edmundson:people in that segment who are also selling lip gloss that are doing over
Matt Edmundson:500 a month and have more than 300 reviews or whatever the criteria is.
Matt Edmundson:Um, how is, is that something that Amazon quickly and easily gives you?
Matt Edmundson:Is there some software that I need to do that?
Matt Edmundson:Is there some voodoo magic that I need to partake in?
Matt Edmundson:What, how does it work?
Ryan Flannagan:Right.
Ryan Flannagan:So what we do on this is we use a number of third party
Ryan Flannagan:softwares to do these analysis.
Ryan Flannagan:Some of these costs, um, over 6 figures a year to be able to get the data, do the,
Ryan Flannagan:do the analysis, and do those things.
Ryan Flannagan:Um, unfortunately, Amazon, uh, while it is opening up more and more
Ryan Flannagan:data on a quarterly basis of this level, historically, has been pretty
Ryan Flannagan:close to the chest on these things.
Ryan Flannagan:Right?
Ryan Flannagan:So what we use is a number of different software suites to basically pull
Ryan Flannagan:this in in our software stack so we can test, review, launch, uh,
Ryan Flannagan:build out all these type of things.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, uh, including keyword tracking it and a variety of things like that.
Ryan Flannagan:So that's part of the secret sauce is the upfront investment of being
Ryan Flannagan:able to get to the, the software so you can do the analysis to run those.
Ryan Flannagan:Now on the other side, if you're looking at some of the a plus, uh, split testing,
Ryan Flannagan:uh, or just split testing in general on Amazon, if you're a brand registered,
Ryan Flannagan:um, on the platform, and uh, you can typically go into Amazon experiments there
Ryan Flannagan:and you can run some of these experiments yourself on the back end as well.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:and those have been really helpful.
Ryan Flannagan:That's something that Amazon launched three to six months ago,
Ryan Flannagan:and that's kind of relatively new.
Matt Edmundson:So that's called Amazon experiments?
Ryan Flannagan:Yeah.
Ryan Flannagan:Yep.
Matt Edmundson:Okay.
Matt Edmundson:So then the, uh, so you find this information out using the, the software
Matt Edmundson:stack, which is probably realistically where you're gonna need to go speak
Matt Edmundson:to an agency because you're not, unless you're gonna go and spend crazy
Matt Edmundson:money on getting the software and figuring it out, why would you do that?
Matt Edmundson:Right?
Matt Edmundson:Um, you, you figured out your, um, your segment, you know what's going on there.
Matt Edmundson:So you're not, you are measuring yourself against how you are performing month
Matt Edmundson:on month, week on week, whatever it is.
Matt Edmundson:But you're measuring yourself against how your competitors are performing, which I
Matt Edmundson:think is super important, Like you say.
Matt Edmundson:Um, what are some of the things that you, So to the example, I'm selling
Matt Edmundson:a hundred percent more so I'm happy, but then I realize the industry
Matt Edmundson:or the segment is grown by 300%.
Matt Edmundson:So now I'm in full on panic mode.
Matt Edmundson:Uh, what are some of the things that I need to sort of instantly think
Matt Edmundson:about here and go, hang on a minute.
Matt Edmundson:I need to look at this.
Matt Edmundson:So you've mentioned, for example, split testing your a plus content,
Matt Edmundson:uh, looking at keywords that convert.
Matt Edmundson:But what are some of the maybe more obvious things that um, I
Matt Edmundson:also need to look at if I'm not using an agency like yourself?
Matt Edmundson:Where, where do, where do a lot of people get it wrong?
Ryan Flannagan:Yeah.
Ryan Flannagan:So it's a, not really tracking the conversion data, but then
Ryan Flannagan:not being aggressive enough, particularly with the ad spend.
Ryan Flannagan:So where Amazon's significantly different and it's ironic, but we, we
Ryan Flannagan:find other agencies talking about a cost all the time and talking about
Ryan Flannagan:lowering aCos and things like that.
Ryan Flannagan:And that's great cuz if I advertise on your brand, I can get a great aCos.
Ryan Flannagan:Right.
Ryan Flannagan:It doesn't mean you're going to grow at all.
Ryan Flannagan:It means you're defending your brand, but it doesn't mean much more than that.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:What you really need to look at on the Amazon platform is,
Ryan Flannagan:uh, what we call your taCos.
Ryan Flannagan:So just quickly, I'm pretty sure your, your whole audience understands
Ryan Flannagan:what aCos and taCos are, but I'll, I'll give a quick explanation.
Ryan Flannagan:So, advertising, cost of sale.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:is what you have on that.
Ryan Flannagan:So that's typically when you look at Row Ads on Facebook ads or
Ryan Flannagan:Google or anything like that, that's normally what you look at, right?
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, um, similar kind of terms that way.
Ryan Flannagan:So I, I spend $1, I, uh, sell $4 worth at the four, 400% roll offs, right?
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:or 4X, um, on Amazon.
Ryan Flannagan:What you wanna look at is not just your aCos, because the more sales
Ryan Flannagan:you make on Amazon, the higher you organically rank , right?
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:. So unlike Google, Google doesn't care if you're making a million
Ryan Flannagan:sales a day or two sales a day.
Ryan Flannagan:It's about backlinks and some of these things.
Ryan Flannagan:Amazon says, Hey, you're making sales.
Ryan Flannagan:We take a commission on everything.
Ryan Flannagan:So if you're making more sales, we're gonna rank you higher
Ryan Flannagan:cuz you got something going on.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:. So when you look at that, you need to really look at your advertising
Ryan Flannagan:spend, the organic sales that you made on the platform, okay?
Ryan Flannagan:Right.
Ryan Flannagan:So with that, it's the total sales that you've made on the platform,
Ryan Flannagan:not just advertising sales, and not just organic, but the total sales.
Ryan Flannagan:So in the case that we've said before, sometimes you'll be spending, let's say
Ryan Flannagan:$30,000 a month and you'll be making a, let's say, um, $300,000 a month organic.
Ryan Flannagan:Well, what that is is that's a 10 return on ad spend.
Ryan Flannagan:Total return on ad spend on the platform.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, I spent 30,000 and I made 300,000.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:overall compared to maybe your pay per click is only giving you 60,000 back.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, so you're like, Oh, I'm spending 30, I'm making a 2x on the aCos side
Ryan Flannagan:of that, or it's a .50, uh, aCos.
Ryan Flannagan:That's not the full picture.
Ryan Flannagan:You need to look at the 10 x you're making on the platform and maybe
Ryan Flannagan:even get more aggressive on the aCos.
Matt Edmundson:That's really fascinating.
Matt Edmundson:So the more you spend, the more you're gonna rank organically, which comes
Matt Edmundson:down or comes back to the point you, you raised a few minutes ago that actually
Matt Edmundson:understanding the keywords that then convert, uh, in your paid advertising
Matt Edmundson:should be added then to your copy, so you start to rank organically with those.
Matt Edmundson:So it, this becomes a whole big learning environment.
Ryan Flannagan:Right.
Ryan Flannagan:Well, and it's, the more you sell, the more you're gonna rank organically, right?
Ryan Flannagan:Mm-hmm..
Ryan Flannagan:So spend is definitely a component with that.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, But then again, you don't wanna be spending on things that
Ryan Flannagan:you're never gonna rank for
Matt Edmundson:Sure.
Matt Edmundson:However, So yeah.
Matt Edmundson:I got, Yeah, yeah.
Matt Edmundson:Okay.
Matt Edmundson:I got that wrong.
Matt Edmundson:Sure.
Matt Edmundson:Yeah.
Matt Edmundson:Yeah.
Matt Edmundson:So the more you sell the, the more you, you're gonna rank organically.
Matt Edmundson:So is this a case of then with Amazon, there's an old saying, I wish I could
Matt Edmundson:remember who said it, I genuinely can't.
Matt Edmundson:Uh, but I've got this phrase in the back of my head that those that can spend
Matt Edmundson:the most to acquire the customer win.
Matt Edmundson:Um, is it a case of that being true with Amazon?
Matt Edmundson:That actually you've gotta go into it with your eyes open a little bit, which
Matt Edmundson:says, I've, I've got to be prepared to spend on customer acquisition.
Ryan Flannagan:Um, yes and no.
Ryan Flannagan:So Amazon looks at conversion rate with everything too.
Ryan Flannagan:Mm-hmm..
Ryan Flannagan:So if you are spending too much and you're not making sales, well,
Ryan Flannagan:they're gonna stop serving your ads.
Ryan Flannagan:Right.
Ryan Flannagan:So again, Amazon's really down to what gets us the most money back as mm-hmm.
Ryan Flannagan:, you know, our overall hypothesis.
Ryan Flannagan:So if somebody's spending a ton of money but the sales aren't
Ryan Flannagan:converting, then you're going to start, have to spend more on those ads.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, um, or you're not gonna rank as well, you're not gonna be
Ryan Flannagan:sticky as far as a rank level.
Ryan Flannagan:So the major components you have to look at that when you look at your listing
Ryan Flannagan:and optimization for your listing kind of comes down to a few different components.
Ryan Flannagan:One is very controllable, and that's what you're listing.
Ryan Flannagan:And the copy that we have on your listing are mm-hmm.
Ryan Flannagan:, you control that for the most part.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, um, on those things.
Ryan Flannagan:The second thing that you need to look at is your reviews if you don't have or
Ryan Flannagan:star reviews and, um, something close to what's, uh, competing in the market.
Ryan Flannagan:Um, then you're gonna have a hard time doing sales.
Ryan Flannagan:And quite frankly, you have to rerun your pay per click campaigns once you
Ryan Flannagan:kinda hit, hit the each tier, right?
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:. So we say 30 reviews on average is the first tier.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, you don't wanna be too aggressive on ad spend until you hit 30 reviews because
Ryan Flannagan:no one's going buy you under 30 reviews.
Ryan Flannagan:Yeah.
Ryan Flannagan:Unless you have great branding off platform and you know, you're the
Ryan Flannagan:next big thing that's coming through.
Ryan Flannagan:Right.
Ryan Flannagan:So that's the, the first step on that.
Ryan Flannagan:But then you wanna reanalyze some of those keywords that may not have been
Ryan Flannagan:converting when you hit a hundred reviews.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, because the conversion rate kind of goes up every tier you hit right
Ryan Flannagan:in the closer you get with that.
Ryan Flannagan:Right.
Ryan Flannagan:So there is kind of a brand or product journey that you go with every
Ryan Flannagan:time as you're kind of escalating and growing with these things.
Ryan Flannagan:And a time to reassess the data that you're doing to say.
Ryan Flannagan:Well, when do we need to do, integrate these keywords?
Ryan Flannagan:When are they converting?
Ryan Flannagan:And then when do we need to do ranking strategy around the keywords?
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:. Matt Edmundson: So, uh, this is,
Ryan Flannagan:your sort of growth driven sort of advertising Amazon, isn't it?
Ryan Flannagan:Everything's feeding everything else in terms of the data and the learning, uh,
Ryan Flannagan:and it's sort of constantly going around.
Ryan Flannagan:And so, um, as you're learning more, you are changing the content on your pages as
Ryan Flannagan:you're changing the content on your pages, the conversions going at which makes
Ryan Flannagan:your advertisements spend more effective.
Ryan Flannagan:And it, it seems to be like you're creating this almost
Ryan Flannagan:upward spiral, this upward vortex.
Ryan Flannagan:Have I understood it, right?
Ryan Flannagan:Yeah.
Ryan Flannagan:It's the, that's exactly it.
Ryan Flannagan:So the, the analogy I like to use here is the vast majority of companies are
Ryan Flannagan:working out like we did in the 80s.
Ryan Flannagan:Right.
Ryan Flannagan:Like remember the eighties you'd run, you'd do the stuff, you
Ryan Flannagan:know, do all that great stuff.
Ryan Flannagan:But Rocky was going home every night and eating pizza.
Ryan Flannagan:And Rocky wasn't eating pizza, but we were all going home and eating pizza and we
Ryan Flannagan:weren't really gaining in better shape.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:. Right?
Ryan Flannagan:So you were kind taking the one view of your workout plan.
Ryan Flannagan:This is how I get, I go to the gym, I work out, I do these type of things.
Ryan Flannagan:But as we've evolved in this, we say, Hey, diet is kind of important as well.
Ryan Flannagan:Mm-hmm, right?
Ryan Flannagan:So, and that would be the listing optimization, the split testing, those
Ryan Flannagan:type of things because you're working out.
Ryan Flannagan:But if you're eating well and you're doing protein drinks and you're not eating
Ryan Flannagan:pizza every day, then you're actually going get shape a lot better and be the
Ryan Flannagan:best brand out there that you can be.
Matt Edmundson:That's really, really good.
Matt Edmundson:I like the rocky analogy.
Matt Edmundson:Uh, any, any analogy that includes Rocky is a, is a winner in my book.
Matt Edmundson:Right?
Matt Edmundson:I'm not gonna lie,
Ryan Flannagan:Yeah, I probably include the music, but don't,
Matt Edmundson:Anyway, I shall stop singing there, dear
Matt Edmundson:listener, because frankly you don't need that in your life now.
Ryan Flannagan:Well, but that really comes down to the case of
Ryan Flannagan:what is, you know, like we are, Amazon is evolving market, right?
Ryan Flannagan:And it's getting more competitive.
Ryan Flannagan:So you have to train harder.
Ryan Flannagan:You have to be stronger and you have to have as much data and analysis
Ryan Flannagan:and try different things to beat out your competitors as much as you can.
Ryan Flannagan:Right.
Ryan Flannagan:And that's what we're really seeing.
Matt Edmundson:Yeah, no, it's, I'm curious, Ryan, I dunno if you actually
Matt Edmundson:know the answer to this question.
Matt Edmundson:So you, you will have come across, um, a lot of, uh, a lot of products
Matt Edmundson:that just aren't selling for whatever reason on Amazon, right?
Matt Edmundson:So it could be the content.
Matt Edmundson:They could be, they've not got reviews.
Matt Edmundson:How much of it is actually down to the product itself?
Matt Edmundson:Like can you take a rubbish product on Amazon and, and sell it or is it,
Matt Edmundson:Cuz I'm, I slightly loaded question.
Matt Edmundson:I'm, I'm of the opinion in e-commerce that's become very complex to do.
Matt Edmundson:It's much easier to win in eCommerce if you have a product people want to buy in
Matt Edmundson:the first place Do you know what I mean, that's actually got that kind of demand.
Ryan Flannagan:Yeah.
Ryan Flannagan:Yeah.
Ryan Flannagan:If you don't have a, a product that gets reviews, and reviews are a whole
Ryan Flannagan:another conversation on Amazon, right.
Ryan Flannagan:Um, you're gonna have a really hard time winning.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:If you can't hit keep over or right around that four star mark
Ryan Flannagan:or above, um, you know, you might wanna pivot and look at another
Ryan Flannagan:product that, that's essentially it.
Ryan Flannagan:Uh, you, you're going be significantly handicapped on that.
Ryan Flannagan:Now if we're talking about the larger question of brands that have really good
Ryan Flannagan:brand and are pushing that way, Um, then there's another conversation of how Amazon
Ryan Flannagan:is actually used, um, a as a legitimacy test for people when they're purchasing.
Ryan Flannagan:Right.
Ryan Flannagan:So we work with a number of larger brands that yes, wanna be selling on Amazon,
Ryan Flannagan:but that's not their major concept or what they're really trying to push.
Ryan Flannagan:They wanna have the best listings up that they can, They wanna have
Ryan Flannagan:good reviews, but it's really for testing the litmus test.
Ryan Flannagan:And maybe they're a premium product and they're two times more expensive than
Ryan Flannagan:the other lip liner on there, right?
Ryan Flannagan:Uh, for example, and they're going to drive sales on Amazon, but
Ryan Flannagan:they're never going to be the, the biggest winner on mm-hmm.
Ryan Flannagan:, right?
Ryan Flannagan:So in that case, there is a concept of getting your listings up, managing
Ryan Flannagan:those wells, really doing brand defense so people aren't conquesting
Ryan Flannagan:and stealing your sales from that.
Ryan Flannagan:And then choosing your battles of where you can scale on
Ryan Flannagan:Amazon and where you cannot.
Ryan Flannagan:Um, and that's really kind of a price premium level because
Ryan Flannagan:buyers on Amazon are very elastic.
Ryan Flannagan:Meaning that if something's a dollar less expensive, they're gonna go the
Ryan Flannagan:thing that's a dollar less expensive.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, if everything else is equal, similar amount of reviews, color, scope,
Ryan Flannagan:product, those type of things.
Ryan Flannagan:But when you have a brand that has, uh, brand awareness and those that they'll
Ryan Flannagan:come to Amazon before purchasing to check the legitimacy of the brand, and
Ryan Flannagan:then maybe they bounce your website and purchase or then they purchase on Amazon.
Ryan Flannagan:So to give you a quick example of this, um, again, got Facebook
Ryan Flannagan:marketing thing, uh, saw a.
Ryan Flannagan:Um, a mosquito, uh, thing that was developed by a 18, uh, 17 year
Ryan Flannagan:old in high school and then got 10 millions of dollars of funding and
Ryan Flannagan:had different light array and killed mosquito for three kilometers around it.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:and so on.
Ryan Flannagan:Like, Oh, I need this.
Ryan Flannagan:I hate mosquitoes.
Ryan Flannagan:Everybody hates mosquitoes.
Ryan Flannagan:And then I went up and looked up on Amazon, it had two and a half stars.
Ryan Flannagan:Like, okay, well this is marketing.
Ryan Flannagan:This, this is hogwash, I'm not touch it.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:. Right.
Ryan Flannagan:So there is a place for your Amazon brand.
Ryan Flannagan:Even if you're not going to go fully on Amazon, uh, there is a place for your
Ryan Flannagan:Amazon brand on there for legitimacy test.
Ryan Flannagan:Yeah.
Ryan Flannagan:And we actually have seen really strong sales for, um, existing brands that have
Ryan Flannagan:brand awareness, uh, just by gaining on the Amazon platform, doing it well,
Ryan Flannagan:implementing some of the growth driven advertising, uh, principles, and then
Ryan Flannagan:really having the kind conversation of this may be just an area that we come
Ryan Flannagan:in and do pretty strong defense on this.
Ryan Flannagan:And we will make money.
Ryan Flannagan:This is never gonna be a $10 million a year product on Amazon because
Ryan Flannagan:of the price level, but maybe it's a $2 million a year product.
Ryan Flannagan:Right?
Ryan Flannagan:So how does that play and where do you go on that?
Matt Edmundson:That's really interesting.
Matt Edmundson:I, I've often heard it said that if you, um, if you do Amazon, well, as a
Matt Edmundson:brand, it does grow your organic traffic to your, excuse me, It does grow the
Matt Edmundson:traffic to your website, your own personal eCommerce website, which is off Amazon.
Matt Edmundson:That actually, as you grow on Amazon, your, your eCommerce
Matt Edmundson:business grows on Amazon as well.
Matt Edmundson:Is that your experience?
Matt Edmundson:Is that what you found?
Ryan Flannagan:Yeah, it's again, very holistic, right?
Ryan Flannagan:And, and you have some kind of check boxes with that.
Ryan Flannagan:Quite frankly, if you're, you know, if you have a website, you're in a brand and
Ryan Flannagan:you're using a Shopify website or any of these other platforms, typically you're
Ryan Flannagan:doing some form of advertising on that.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:. And what happens when people do advertising, because we're
Ryan Flannagan:getting more and more inundated for product advertising, is
Ryan Flannagan:they do the legitimacy test.
Ryan Flannagan:So they go to Amazon, they see if they can buy it, cause they trust
Ryan Flannagan:Amazon, they trust the return policy.
Ryan Flannagan:So we actually see it twofolds as a.
Ryan Flannagan:, even if you don't direct anybody in Amazon, you're gonna start
Ryan Flannagan:making brand sales on Amazon cuz people are going there.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, but also if you are doing things on Amazon, uh, targeting competitor
Ryan Flannagan:conquesting, things like that, which you can actually do on Amazon
Ryan Flannagan:significantly better than any other platform that I'm aware of.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, Uh, for targeting what your competitors are doing if people are buying liked you?
Ryan Flannagan:Uh, there's a few things.
Ryan Flannagan:We have Amazon Demand side platform and Nuanced Media cuz we are, uh,
Ryan Flannagan:working very closely with Amazon.
Ryan Flannagan:Typically you have to spend about $40,000 a month to even
Ryan Flannagan:get access to the platform.
Ryan Flannagan:Um, but we can offer that to some of our clients, uh, underneath our umbrella.
Ryan Flannagan:Uh, but by doing that you can do a pretty strong conquesting and
Ryan Flannagan:then track the sales that actually happen on your website as well.
Ryan Flannagan:Now all ads go to your listing on Amazon, but you can track the sales that way too.
Ryan Flannagan:Yeah.
Ryan Flannagan:So, you know, we don't live in a vacuum.
Ryan Flannagan:Um, and a advertising you do on the platform is going
Ryan Flannagan:drive sales to your website.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:a uh, advertising you do to your website is going drive sales to Amazon.
Ryan Flannagan:. Mm-hmm.
Matt Edmundson:Yeah.
Matt Edmundson:I remember sitting down with one of the directors here in the UK of Amazon,
Matt Edmundson:and we were having conversations about all kinds of weird, wonderful things
Matt Edmundson:in their offices down in London.
Matt Edmundson:And one of the things that they said to me, uh, I can't remember
Matt Edmundson:the number they gave me, I wrote it down, I should dig it out.
Matt Edmundson:But there was a really high percentage of people that went to the Amazon
Matt Edmundson:website and didn't buy anything.
Matt Edmundson:They just went to check the reviews.
Matt Edmundson:And that was, that was, you know, he used the example of,
Matt Edmundson:you know, you stood in curries or something and you want to buy a tv.
Matt Edmundson:You don't know if it's any good.
Matt Edmundson:So you're just like, Well, I'm just gonna go and Amazon that sort of
Matt Edmundson:search on Amazon for that specific model and I'm gonna read the reviews.
Matt Edmundson:I want to know what people are saying about that product.
Matt Edmundson:And then I'm gonna make a decision.
Matt Edmundson:Well, do I want to buy it here and now from the store?
Matt Edmundson:Or is it, is it cheaper and easier from Amazon?
Matt Edmundson:I don't really know.
Matt Edmundson:But um, , it was a really interesting concept, uh, that, uh, you know, that
Matt Edmundson:Amazon knew this and they knew a lot of people just went on their site to, to
Matt Edmundson:check out the reviews of products, right?
Matt Edmundson:So like you say, if you are on Amazon, if you've got a brand, or we found
Matt Edmundson:actually as a brand, uh, one of my online businesses wasn't on Amazon, but people,
Matt Edmundson:our wholesalers had put it on Amazon.
Matt Edmundson:And so I realized that the more I was spending on paid media to grow our
Matt Edmundson:website, the more they were selling.
Matt Edmundson:I'm like, How's that even?
Matt Edmundson:And then I realized, aha, they're doing Amazon, so I'm, I'm in effect putting
Matt Edmundson:money into their pocket, as it were.
Ryan Flannagan:Well, there's, there's a whole another conversation
Ryan Flannagan:there too, because anybody can sell your products on Amazon.
Ryan Flannagan:And if you're not on Amazon, what listing is stood up?
Ryan Flannagan:What value props are they talking about?
Ryan Flannagan:Are they doing any reputation management whatsoever?
Ryan Flannagan:Are there are.
Ryan Flannagan:Um, things that you need to be aware of.
Ryan Flannagan:It's kind like the old social media conversation that people are
Ryan Flannagan:having in the mid two thousands.
Ryan Flannagan:Like, should I be on Facebook or not?
Ryan Flannagan:And if you're not on there, then people are going be talking about you anyway.
Ryan Flannagan:It's better to be a part of the conversation.
Ryan Flannagan:Yeah, right.
Ryan Flannagan:Um, and that was a big conversation with Twitter back in the day too, particularly
Ryan Flannagan:on the customer service side of things.
Ryan Flannagan:So you will find, and we deal with a number of brands are preestablished that,
Ryan Flannagan:you know, look on Amazon, they're like, we had no clue that all these images were
Ryan Flannagan:up and these listings we're selling and they're actually saying the wrong things.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, uh, and, uh, elements to that level.
Ryan Flannagan:So yeah, you, you almost have to have Amazon as a brand defense
Ryan Flannagan:level and no one likes it, right?
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:. Um, but it is another thing if you are an established brand, if you're doing
Ryan Flannagan:things, what to do, and quite frankly, we can run some analyses, find out how
Ryan Flannagan:many people are searching for your brand, those type of things, and say, is it even
Ryan Flannagan:viable at this point or is it something you really should not worry about?
Matt Edmundson:So what would you, uh, I, I guess in some respects is that I'm
Matt Edmundson:answering my own question here, Ryan, As I'm thinking it in my head, how long's
Matt Edmundson:a piece of string, but at what point, where, where is that tipping point?
Matt Edmundson:Where is it that actually it makes sense for you to, to, to be on Amazon?
Matt Edmundson:That, that sort of the viability, it's like, Yep, let's do this.
Matt Edmundson:Let's go for it now.
Matt Edmundson:. Ryan Flannagan: So again, what we
Matt Edmundson:back to the win-win side, is work closest to the wallet out, right?
Matt Edmundson:So where's your existing catalog?
Matt Edmundson:What is your existing catalog and what's doing the most sales on there, right?
Matt Edmundson:So you don't go in there and try to put up everything just as once, right?
Matt Edmundson:uh, what you need to do is you need to really target out what are the best
Matt Edmundson:products for you and then decide to build those out and continue to do that.
Matt Edmundson:But what I would look at is go on Amazon, depending on uh, your amount of sales.
Matt Edmundson:If you have a product that's doing over, I'd say 10 to $20,000 of sales
Matt Edmundson:for your website, it's probably time to really start looking at it cause
Matt Edmundson:you're really starting to grow on that.
Matt Edmundson:Um, it could be potentially a time to look at even beforehand
Matt Edmundson:because, um, Amazon's about 48% of product search in the United States.
Matt Edmundson:Mm-hmm.
Matt Edmundson:and Google's about 35% of product search.
Matt Edmundson:Okay.
Matt Edmundson:So by just being on Google, you're actually working on a lower marketplace.
Matt Edmundson:Mm-hmm.
Matt Edmundson:. Um, but go on Amazon and search yourself and then see who's advertising above
Matt Edmundson:your brand and see if you can live with them stealing your customers.
Matt Edmundson:Cuz that's what's happening right now.
Matt Edmundson:Yeah.
Matt Edmundson:You're doing advertising.
Matt Edmundson:Uh, people go, Hey I need this mosquito killer.
Matt Edmundson:Uh, and I go by my brand and the mosquito killer is a horrible example
Matt Edmundson:because it is a horrible product.
Matt Edmundson:. But I need the lip liner.
Matt Edmundson:Right.
Matt Edmundson:And then you go look up there and then you see the Lady Gaga lip liner.
Matt Edmundson:Instead you buy the Lady Gaga one cuz you're not available.
Matt Edmundson:Mm-hmm.
Matt Edmundson:, Right?
Matt Edmundson:It's in, Yeah, it's in, I.
Matt Edmundson:There is a very definite strategy for, uh, marketers using Instagram, right?
Matt Edmundson:So you get a product comes upon your Instagram feed buy this product.
Matt Edmundson:You go to their website, um, and it's usually a company shipping from China.
Matt Edmundson:You know this because there's no contact information at all on the website.
Matt Edmundson:Uh, and it'll show you, I'm, I, I can't remember the last example I saw.
Matt Edmundson:So I'm just gonna go with something off the top of my head, like a head
Matt Edmundson:torch for hardcore campers, right?
Matt Edmundson:And they'll show you this image, um, and it's like 30% off for limited time.
Matt Edmundson:You go to their website and it's like 70 bucks.
Matt Edmundson:Um, and then you go to Amazon and you search that exact same product and
Matt Edmundson:it's 30 bucks, uh, and I can get it tomorrow rather than five weeks time.
Matt Edmundson:There seems to be this strategy, which I still don't understand by
Matt Edmundson:marketers, obviously, They're just trying to get people on that sort.
Matt Edmundson:I guess that sort of, uh, you know, that I'm gonna buy right
Matt Edmundson:now, that impulse buy type thing.
Matt Edmundson:So I'm always surprised by how much this actually happens.
Matt Edmundson:Uh, with, with, uh, Instagram, Facebook as a strategy.
Matt Edmundson:I'm gonna sell a product which is cheap on Amazon, but I'm gonna sell
Matt Edmundson:it higher for impulse purchasers, maybe with a sexy image or something.
Matt Edmundson:Um, have you, do you find that, that actually you, obviously you, you focus
Matt Edmundson:on the other side, you focus on Amazon, you're selling the head torch on Amazon.
Matt Edmundson:Does this kind of thing help you or not?
Ryan Flannagan:Um, it actually generates more demand to Amazon and more search.
Ryan Flannagan:And because of that, if you're the one advertising there,
Ryan Flannagan:you're the one that organically ranks and you have the reviews.
Ryan Flannagan:It actually helps because it is driving more traffic because
Ryan Flannagan:people are like, I didn't even think about buying a head torch.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:. Right?
Ryan Flannagan:Um, and that's like a advertising that somebody else does for marketing.
Ryan Flannagan:Then they find us organically or CR reviews.
Ryan Flannagan:They weren't thinking about the email solicitation they just got for Amazon.
Ryan Flannagan:Um, and then they go, Well, I should probably work with a company
Ryan Flannagan:that's credible compared to somebody who just emailed me randomly.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:go there and you buy and you do that and it's actually.
Ryan Flannagan:Another thing that's pretty compelling that's happening in the
Ryan Flannagan:Amazon space is Amazon's really pivoting to working more with brands.
Ryan Flannagan:They've really cracked down on, um, the review augmentation and all the
Ryan Flannagan:fake reviews that were happening, but they're rolling out a whole
Ryan Flannagan:bunch of features for brands.
Ryan Flannagan:Um, and one of the things that they're doing to continue to drive the flywheel
Ryan Flannagan:is if your brand registered, you can basically put in an affiliate Link
Ryan Flannagan:to your marketing, and depending on the category, you can get up
Ryan Flannagan:to 10% of the referral feedback.
Ryan Flannagan:So on Amazon, typical referral fee for the pleasure of being on Amazon is 15%, right?
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, you pay on 15% every time you make a sale.
Ryan Flannagan:But now if you actually drive to your listing or your store, um,
Ryan Flannagan:and somebody purchases and you're using that from a, a Facebook or
Ryan Flannagan:Instagram or any external marketing that you're doing, you'll actually
Ryan Flannagan:get 10% commissioned back on that.
Ryan Flannagan:So then Amazon feed.
Matt Edmundson:That's really interesting.
Matt Edmundson:Yeah, cuz that was gonna be my next question.
Matt Edmundson:If I see the guy advertising the head torch on Instagram for twice
Matt Edmundson:the price, but I actually have the head torch, is there a strategy which
Matt Edmundson:says actually I can pay to appear on Amazon, You know, I I the Amazon
Matt Edmundson:search and I'll pay to appear there.
Matt Edmundson:But should I also think about using Instagram to drive traffic to my Amazon
Matt Edmundson:listing versus my website listing?
Matt Edmundson:I've asked this question, a couple of people had varying degrees of,
Matt Edmundson:uh, response actually on the show about this, so I'm curious to know
Matt Edmundson:what your thoughts are on it, Ryan.
Ryan Flannagan:So what we see on the platform in general is Amazon's
Ryan Flannagan:pretty early on that, and I don't a hundred percent trust the, the
Ryan Flannagan:data that we're getting for the, the conversion rate or the attribution
Ryan Flannagan:for the sales on this, right?
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:. So, um, it's twofold a test, right?
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, try both, right?
Ryan Flannagan:Um, but what we typically see on the Amazon platform is Amazon has a
Ryan Flannagan:higher conversion rate in general.
Ryan Flannagan:When people are shopping on Amazon, they're shopping to buy mm-hmm.
Ryan Flannagan:. So we'll see a typical a 5x the conversion rate on your Amazon
Ryan Flannagan:store compared to your website.
Ryan Flannagan:Okay.
Ryan Flannagan:Just in general.
Ryan Flannagan:Yeah.
Ryan Flannagan:Right.
Ryan Flannagan:So, but the customer lifetime value is significantly lower.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:Cause you don't own the customer data.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:Right?
Ryan Flannagan:So what we see on your website is the customer acquisition cost
Ryan Flannagan:is higher, but your lifetime value is significantly higher.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:Right.
Ryan Flannagan:Cause you cross sell, you uh, do all those things.
Ryan Flannagan:You have their, uh, email address.
Ryan Flannagan:You can do look at like audiences, you can do all these other type of things.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:. So it really depends on where you are in the journey as a a brand.
Ryan Flannagan:Do you have one product that you're selling?
Ryan Flannagan:Well then maybe Amazon makes sense cuz you're not cross-selling and
Ryan Flannagan:doing all those type of things.
Ryan Flannagan:But if you have, this is the first product in a five step product line Yeah.
Ryan Flannagan:Then your Shopify site or your website may make more sense of that.
Ryan Flannagan:But yeah, honestly you have to get up and test both of those.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:to see what happens.
Ryan Flannagan:That's at the end of what you have to do.
Matt Edmundson:Very good answer.
Matt Edmundson:Very, uh, very well balanced answer, Ryan.
Matt Edmundson:Uh, it's a very good
Ryan Flannagan:first time.
Ryan Flannagan:The first time I've ever said about it.
Ryan Flannagan:I swear.
Matt Edmundson:Yeah, absolutely.
Matt Edmundson:Um, so left field, let me ask you maybe a bit of a, an odd question,
Matt Edmundson:but I'm curious to know the answer.
Matt Edmundson:So, you know what?
Matt Edmundson:Tomorrow you wake up, you decide, you know what, I am gonna, I'm
Matt Edmundson:gonna set up an Amazon business, I'm gonna start selling stuff on Amazon.
Matt Edmundson:I don't have a product yet.
Matt Edmundson:Um, and I see this all the time, uh, on Instagram, YouTube ads.
Matt Edmundson:Like maybe it's just me, the advertised to me, you know, come do my course and we'll
Matt Edmundson:show you how to make 5 million on Amazon, uh, by selling plastic widgets, which
Matt Edmundson:you buy from China for 12 pence and you sell 'em for 40, whatever it is, right?
Ryan Flannagan:No, no beta switch going on there whatsoever.
Matt Edmundson:Yeah.
Matt Edmundson:No know, no whatsoever.
Matt Edmundson:Um, and if it was that easy, forget the course, sell the product, leave me alone.
Matt Edmundson:Um, but that's another story anyway.
Matt Edmundson:Um, so you've got that going on, right?
Matt Edmundson:And you said right at the start, it's not actually that straightforward.
Matt Edmundson:It's not that simple.
Matt Edmundson:But obviously there are people who wake up and go, I want to now sell on Amazon.
Matt Edmundson:How would you approach it if you were a total newbie, right?
Matt Edmundson:How would you approach this sell on Amazon thing?
Matt Edmundson:Would you ignore all these courses or are there some that we should think about?
Matt Edmundson:I'm, whatever, whatever comes to mind.
Matt Edmundson:I'm just really curious,
Ryan Flannagan:RIght.
Ryan Flannagan:So, um, I would probably take a course, just so you understand it, it's, you
Ryan Flannagan:always start out with education, right?
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, and it doesn't necessarily have to be a course, but watch the videos on it.
Ryan Flannagan:See the product findings, See, see what they're saying on those levels.
Ryan Flannagan:But at the end of the day, before you go buy anything, search the
Ryan Flannagan:term that you think people are going to use when purchasing those
Ryan Flannagan:and look at the listings, right?
Ryan Flannagan:Are, are they all really well done?
Ryan Flannagan:Are there good reviews?
Ryan Flannagan:Are there good images?
Ryan Flannagan:Are there video ads?
Ryan Flannagan:Like where is that and where is that in the competitive Verizon?
Ryan Flannagan:And then look at the pricing of what they're selling, right?
Ryan Flannagan:Where I, I think the number one area where people make a mistake is that they
Ryan Flannagan:don't look at the unit economics, right?
Ryan Flannagan:And that's one thing that we look at for, we work with a lot of existing brands on
Ryan Flannagan:Amazon, but if they're the right company and they have the appropriate funding
Ryan Flannagan:and they want do it, well, then we will help some certain brands launch, right?
Ryan Flannagan:And the first thing that we look at with that is what are the unit economics
Ryan Flannagan:and where do you put in, in that price elasticity question on Amazon, right?
Ryan Flannagan:Um, so you have to take account the, the 15% on average that, uh, they'll,
Ryan Flannagan:Amazon will charge you as a referral fee depending on your category.
Ryan Flannagan:And then you have to look at your shipping cost.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, right?
Ryan Flannagan:What is the going cost to ship as well?
Ryan Flannagan:And then when you look at those two things, you look at your cogs too
Ryan Flannagan:and you say, Well, what is my margin at the end of the day based on this?
Ryan Flannagan:Because a lot of people will go, Oh, that's only selling for 20 bucks.
Ryan Flannagan:My cogs are five, I'll be great.
Ryan Flannagan:You know, that's the 75% gross margin.
Ryan Flannagan:Well, no, cuz you're not digging the 15% in the shipping.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:. So your, your gross margin's actually 25% mm-hmm.
Ryan Flannagan:before you do advertising.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:. And if you do advertising, you know, the first few months before you
Ryan Flannagan:have reviews, before you have these type of things, you may be at a
Ryan Flannagan:hundred aCos, you may add 200% aCos.
Ryan Flannagan:Right now we shoot for your taCos.
Ryan Flannagan:Typically when you launch your, you know, it's kind of almost a one for one on that.
Ryan Flannagan:Like I spend $1, I make $1.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:on the platform.
Ryan Flannagan:Sometimes it's, I spend $3, I make $1 on the platform.
Ryan Flannagan:And you have to look at those things, um, until you get the reviews and you really
Ryan Flannagan:can start to build that up and grow.
Ryan Flannagan:But what we find is gradually you go from that, you know, a hundred percent taCos,
Ryan Flannagan:let's call it to 50% taCos, to, we have clients that we work with that, um, you
Ryan Flannagan:know, for every dollar they spend on the platform, they make $20 on the platform.
Ryan Flannagan:Right.
Ryan Flannagan:And then we have other clients that are really well brand and not
Ryan Flannagan:optimized and have big retail level that, you know, for every $1 they
Ryan Flannagan:spend, they make $85 on the platform.
Ryan Flannagan:Right.
Ryan Flannagan:And, and it just depends on where you are in that cycle.
Ryan Flannagan:But at the bare minimum, if you're thinking about going into this.
Ryan Flannagan:Run the math first before you invest any real money or mm-hmm.
Ryan Flannagan:, talk to a genuine agency that will say, This is the deal, this is the investment,
Ryan Flannagan:this is what you like to look at.
Ryan Flannagan:What I pretty much recommend for everybody, if you're going launch
Ryan Flannagan:a product on Amazon, is going to, honestly, at the end of the day, cost
Ryan Flannagan:you 30 to $50,000 per product and you just have to kind of pencil that in.
Ryan Flannagan:Right.
Ryan Flannagan:That's not even counting, That's not even counting, you know, buying the
Ryan Flannagan:product and doing those type of things.
Ryan Flannagan:But we have people come to us all the time that wanna do five products.
Ryan Flannagan:You're like, Well hold up.
Ryan Flannagan:If you're gonna do five products, then you should pencil in $250,000 to do this.
Ryan Flannagan:Or maybe we should look at the five products you're looking at.
Ryan Flannagan:Choose the best winner and then go at that and see what this looks like over a six
Ryan Flannagan:month period and build out from there.
Matt Edmundson:So the 30, $50,000 to launch a product, this is
Matt Edmundson:over a period of say six months.
Matt Edmundson:Um, and the majority of that fee is going into the paid media to try and figure
Matt Edmundson:out what it is that you are doing, um, who's buying it, and so on and so forth.
Matt Edmundson:Is that right?
Ryan Flannagan:Yes, that's correct.
Matt Edmundson:Okay.
Matt Edmundson:That's a really,
Ryan Flannagan:Now you have to, you know, and that's from the advertising stuff.
Ryan Flannagan:It also depends on what agency you work with, standing up the
Ryan Flannagan:listings, doing those type of things.
Ryan Flannagan:That's, uh, always kind.
Ryan Flannagan:Uh, uh, people try to commoditize listing building, right, and building
Ryan Flannagan:your listing and doing the images and all those type of things are not.
Ryan Flannagan:You don't want to go bargain basement when you're doing those type of things.
Ryan Flannagan:Mm-hmm, because the images are the number one critical thing
Ryan Flannagan:that you can have on there.
Ryan Flannagan:Right.
Ryan Flannagan:Okay.
Ryan Flannagan:And the content and those things.
Ryan Flannagan:So if you try to commoditize that, what you'll end up is you'll end up
Ryan Flannagan:with, uh, the head torch that doesn't work and breaks after two weeks.
Ryan Flannagan:Right.
Ryan Flannagan:Uh, from that side of things.
Ryan Flannagan:So you really do wanna take your time to build out the best listing based on
Ryan Flannagan:good keyword research, based on really strong images, because particularly
Ryan Flannagan:when you don't have reviews, you have to look better than everybody else.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:and look more of a premium brand and out those ways.
Ryan Flannagan:So those are things that you just need to think about when kind
Ryan Flannagan:of going through this process.
Matt Edmundson:So what, uh, I, again, I appreciate, this
Matt Edmundson:is a very open ended question.
Matt Edmundson:Uh, but if you were gonna start today on Amazon, what sort of
Matt Edmundson:products would you look at?
Matt Edmundson:What sort of products would you avoid?
Ryan Flannagan:Yeah, um, so.
Ryan Flannagan:So there's big winners, right?
Ryan Flannagan:So cosmetics and supplements are very, very competitive markets
Ryan Flannagan:on those, but you typically have higher lifetime values, right?
Ryan Flannagan:Mm-hmm, so supplements, and everybody's been golden going after
Ryan Flannagan:that golden goose for a long time.
Ryan Flannagan:Um, but like I'll tell you, like elderberry keyword, you know,
Ryan Flannagan:the average price on that's like $17 and the cost per click is $9.
Ryan Flannagan:Wow.
Ryan Flannagan:Right?
Ryan Flannagan:So unless you're really converting on that, you're, you're losing money.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, right?
Ryan Flannagan:You really have to have a offsite strategy with that.
Ryan Flannagan:So, What I would look at, and you can tell because like you look for elderberry
Ryan Flannagan:gummies and you'll see that everybody up there has 2000, 3000, 4,000 reviews.
Ryan Flannagan:Mm-hmm..
Ryan Flannagan:What I'm doing this on the level is I'm looking for something that a matches the
Ryan Flannagan:unit economics, kind of running through the formula that I talked about earlier,
Ryan Flannagan:but also has a longer lifetime value.
Ryan Flannagan:Right.
Ryan Flannagan:Something that people come back and repurchase that will work on subscribe
Ryan Flannagan:and save and doing those type of things because it's significantly
Ryan Flannagan:harder to win on the platform where you spend that much for customer
Ryan Flannagan:acquisition and then they go away.
Ryan Flannagan:Mm-hmm..
Ryan Flannagan:Cause then it's like every time I'm just rinsing or repeating
Ryan Flannagan:the same type of thing compared to like, Hey, I got somebody.
Ryan Flannagan:I love these razor blades.
Ryan Flannagan:You're my razor blade guy.
Ryan Flannagan:I'm gonna buy razor blades from you for the next five years.
Ryan Flannagan:And then your customer acquisition is great because I'm willing to spend
Ryan Flannagan:two times the cost of the razor blade.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:to get somebody to buy because I know they're gonna be with me
Ryan Flannagan:for the next two to three years.
Matt Edmundson:Yeah.
Matt Edmundson:Very good.
Matt Edmundson:Very, very helpful.
Matt Edmundson:Ryan.
Matt Edmundson:Listen, I'm aware of time, so let me ask you my, uh, my
Matt Edmundson:new favorite question, right?
Matt Edmundson:Uh, as you know, the eCommerce cohort is the sponsor for today's podcast.
Matt Edmundson:So you're in a hotel, you've just delivered a keynote speech to all the
Matt Edmundson:eCommerce cohort dudes who've got together for their annual get together, the Shin
Matt Edmundson:dig, the Soiree, uh, and you've been talking about all this stuff on Amazon.
Matt Edmundson:The crowd's going wild.
Matt Edmundson:It's going absolutely crazy.
Matt Edmundson:Um, and so you kind of go on stage, you take your bow and it's like, listen, I
Matt Edmundson:would just like to thank dot, dot, dot.
Matt Edmundson:Who do you thank and why?
Matt Edmundson:Is it a person?
Matt Edmundson:Is it a mentor?
Matt Edmundson:Is it a podcast?
Matt Edmundson:Is it a book?
Matt Edmundson:Who, who, who springs out?
Ryan Flannagan:Um, it would really have to be the people on Nuanced Media
Ryan Flannagan:who've been through this journey with me.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, I mean, we've been around 12 years and the people really helped me
Ryan Flannagan:build the brand and grow from that.
Ryan Flannagan:Um, doing the day in, day out activity and really kinda helping this dream
Ryan Flannagan:come to life and continuing to do that.
Ryan Flannagan:Um, the other people, that person I like to really thank is, uh,
Ryan Flannagan:obviously my wife and daughter for dealing with me all the time while,
Ryan Flannagan:while I'm working on these things.
Ryan Flannagan:But then, um, my mother and my uncle, who are both, uh, entrepreneurs
Ryan Flannagan:in their own level, put out their own shingle, developed it,
Ryan Flannagan:had a dream and made it happen.
Ryan Flannagan:Um, so that would be the shortlist.
Matt Edmundson:Oh, wow.
Ryan Flannagan:I heard the Oscar music in the background,
Ryan Flannagan:so I'm trying to keep it short.
Matt Edmundson:Yes, absolutely.
Matt Edmundson:That's really interesting.
Matt Edmundson:It's what fascinates me is I've started asking this question.
Matt Edmundson:Every uh, husband that comes on the show automatically says, Oh,
Matt Edmundson:obviously my wife, uh, for putting out with me, which is the standard
Matt Edmundson:response, which still makes me smile.
Matt Edmundson:And I think in 10 years time, I'll still be smiling at that answer just
Matt Edmundson:because obviously I'm in the same boat..
Matt Edmundson:Um, it's interesting you mentioned your mum and uncle though.
Matt Edmundson:Uh, so have you come from an entrepreneurial sort
Matt Edmundson:of family and background?
Ryan Flannagan:Yeah, yeah.
Ryan Flannagan:Uh, my mother's a psychotherapist.
Ryan Flannagan:She's been practicing for 35 years at this point and put out
Ryan Flannagan:her own shingle a long time ago.
Ryan Flannagan:Mm-hmm..
Ryan Flannagan:And then, uh, my uncle works with Veterans Law before it was legal to even
Ryan Flannagan:represent veterans and get paid for it.
Ryan Flannagan:Um, VA does not great things for our American veterans, and he
Ryan Flannagan:kind of founded that type of law.
Ryan Flannagan:Oh, wow.
Ryan Flannagan:And, and you know, so, and they've been both greatly successful.
Ryan Flannagan:So they, uh, gave me, encouraged me to be delusional enough to start my own company.
Matt Edmundson:So that's such a great, That's, that's almost
Matt Edmundson:a brilliant epitaph, isn't it?
Matt Edmundson:Uh, here lies delusional enough to start his own business.
Matt Edmundson:I quite like that.
Matt Edmundson:That's, um, that's brilliant.
Matt Edmundson:And I was thinking your mum's a psychotherapist, so do you feel like,
Matt Edmundson:uh, if you say something, she's kind of analyzing what's going on all the time?
Matt Edmundson:Or is it,
Ryan Flannagan:Oh, we're, we're way beyond that.
Matt Edmundson:There's some people that are beyond help.
Matt Edmundson:Right.
Matt Edmundson:So the way it works, So you, um, One of the things to mention is,
Matt Edmundson:uh, I, I came across, um, your book, The, uh, Marketing is Dead.
Matt Edmundson:Long Live Marketing book, which you wrote in 2019.
Matt Edmundson:Now, this is a, you mentioned this is more of a B2B book about inbound marketing.
Matt Edmundson:Right.
Matt Edmundson:Um, and I guess my question here is, uh, given that you are an author, you
Matt Edmundson:talk a lot about marketing B2B inbound.
Matt Edmundson:Um, obviously you've talked a lot about Amazon.
Matt Edmundson:Since the pandemic, would anything in that book change?
Ryan Flannagan:Um, so let me just be very clear.
Ryan Flannagan:So Nuanced Media, all we do is eCommerce, Amazon, that that's all we focus on.
Ryan Flannagan:And the funny thing with this book is I probably started two years
Ryan Flannagan:before it actually got published, so this was a longer thing that we were
Ryan Flannagan:kind of working in the background.
Ryan Flannagan:Um, the compelling thing with business to business practices is they really apply
Ryan Flannagan:a lot in the consumer D to C side too.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, because it is about building trust, building credibility.
Ryan Flannagan:Doing these type of things, but particularly more paired
Ryan Flannagan:to more expensive products.
Ryan Flannagan:So if you're going to go out and spend, let's say $2,000 on a telescope, it's
Ryan Flannagan:actually more of a B2B engagement.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:than is a D to C typical engagement when you're buying lip liner for $10.
Ryan Flannagan:Yeah.
Ryan Flannagan:Right.
Ryan Flannagan:Because you do your research, you look at reviews, you need
Ryan Flannagan:to make sure it's the best.
Ryan Flannagan:All these type of things.
Ryan Flannagan:So that's something that I think would be very interesting is Highline in that book
Ryan Flannagan:more how this pairs to high value items.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, uh, in Amazon and on Google on your website, compared to just looking at
Ryan Flannagan:the B2B side because quite frankly, B2B sales are more about risk than
Ryan Flannagan:anything because somebody's job may be on the line, finding the right
Ryan Flannagan:company, doing these type of things.
Ryan Flannagan:Um, and that's quite frankly why we built out this kinda
Ryan Flannagan:partner network at Nuanced Media.
Ryan Flannagan:We're not a good fit for somebody, so we can help people still make the
Ryan Flannagan:good decision by companies that's actually been doing this for a while
Ryan Flannagan:and has vetted a whole bunch of providers on this to make sure you are
Ryan Flannagan:not, um, having the issue with this.
Ryan Flannagan:Um, but with this part of it, it is about looking at how higher valued
Ryan Flannagan:items go through that customer journey, um, and how it really pairs to that.
Ryan Flannagan:So that's something that I probably would've added to the book when
Ryan Flannagan:looking at, on that side of things.
Matt Edmundson:Yeah, it's, it is interesting, isn't it?
Matt Edmundson:I mean, I, I remember when we started the eCommerce podcast, we, it was called
Matt Edmundson:the Curiosity Podcast, I think originally back in the day before I changed the name.
Matt Edmundson:Um, and I remember one of our very first guests on the show
Matt Edmundson:was a lady called Chelsea Cohen.
Matt Edmundson:Uh, and she, the title of the podcast was How to Sell a $6,000 Sweater Online.
Matt Edmundson:Right?
Matt Edmundson:And I was like, Who in the world is gonna spend six grand on us?
Matt Edmundson:Apparently there's a lot of people that will spend six grand on a
Matt Edmundson:sweater, but let's not go into that.
Matt Edmundson:And it's, it was interesting cuz you're, what you're saying is actually, if
Matt Edmundson:you are in that field, that sort of luxury and that high end, then actually
Matt Edmundson:some of these more B2B principles do apply and you should be aware of them
Matt Edmundson:in terms of the customer journey and understanding the customer journey.
Matt Edmundson:Um, and that's what she talked about.
Matt Edmundson:And I'd say it's interesting, isn't it, how these sort of
Matt Edmundson:things call form come full circle.
Matt Edmundson:So, uh, so are you gonna update the book or are you just gonna leave it or have
Matt Edmundson:you got another book in the pipeline?
Matt Edmundson:Like how to Kill It on Amazon?
Ryan Flannagan:Yeah.
Ryan Flannagan:So we're working on a number of things internally on this right now.
Ryan Flannagan:You can check out our blog.
Ryan Flannagan:There's a ton of blogs out there.
Ryan Flannagan:We publish, you know, twice a week.
Ryan Flannagan:I, I pretty much write quite, quite a bit on those type of things.
Ryan Flannagan:But, uh, the blog, I mean, the next book I'm probably gonna vet for, I, I
Ryan Flannagan:have some ideas that I'm entertained.
Ryan Flannagan:I'm not willing to say anything at this point, Matt.
Ryan Flannagan:Okay.
Ryan Flannagan:Okay.
Ryan Flannagan:Stay tuned on that level.
Matt Edmundson:Done bud when you write the book, come back on the show
Matt Edmundson:and let us know what it's all about.
Matt Edmundson:You know how to kill it on Amazon.
Matt Edmundson:You heard it here first, ladies and gentlemen.
Matt Edmundson:so listen
Ryan Flannagan:But the problem that we see with books that to be very
Ryan Flannagan:candid, is that in the d to C space, things are changing so quickly.
Ryan Flannagan:Mm-hmm, right?
Ryan Flannagan:Like, B2B principles are kind of historic and they stay that way.
Ryan Flannagan:There, there is, uh, you know, Prospects first leads, how you
Ryan Flannagan:qualify, how you get the men, thought leadership, all these type of things.
Ryan Flannagan:But what we see in uh, you know, execution on Shopify or Amazon
Ryan Flannagan:or any of these things is just changing dynamically on a day to day.
Ryan Flannagan:So I don't know if the book model to be some ways is that outdated level there.
Ryan Flannagan:There's arguments that classic college education's outdated as well
Ryan Flannagan:because things are changing so quickly and I don't know if that doesn't
Ryan Flannagan:necessarily apply to the book as well.
Matt Edmundson:Yeah.
Matt Edmundson:One of the things I've noticed about the podcast is obviously you, you see
Matt Edmundson:the stats and you see which episodes do well and there are some episodes which
Matt Edmundson:come out and they do well straight away.
Matt Edmundson:And there are some episodes which do well over a period of time.
Matt Edmundson:There are people still down downloading certain episodes.
Matt Edmundson:From two, two and a half years ago because they're kind of the,
Matt Edmundson:what they call evergreen content.
Matt Edmundson:It seems to be always constantly relevant.
Matt Edmundson:Uh, which is, I think, hard to do with e-commerce.
Matt Edmundson:I mean, some of it's pretty, you know, there are some standard principles,
Matt Edmundson:but even in markets that change a lot, there's still some, some sort
Matt Edmundson:of, some consistencies aren't there.
Matt Edmundson:And I find, I find the whole thing really fascinating in terms of
Matt Edmundson:what works right now and what's gonna work in a few years time.
Matt Edmundson:You just, you never know, you know, in terms of the content that we put out.
Ryan Flannagan:Well, and, but something that I always get is like, if you
Ryan Flannagan:don't have your fundamentals down, don't worry about the bright new thing.
Ryan Flannagan:And that's the one thing I have to say that I believe nuanced
Ryan Flannagan:probably does better than everybody else, is we get your fundamentals
Ryan Flannagan:down to where they really need.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:before you start playing with the new cute thing that may work or may not work
Ryan Flannagan:because you have a lot of people doing it packed to go back that old, the old.
Ryan Flannagan:Uh, Shopify thing that I said at the beginning, Hey, I need to run
Ryan Flannagan:a million dollar ad campaign on Google, but my website's taking
Ryan Flannagan:five to 10 seconds to load.
Ryan Flannagan:Mm-hmm.
Ryan Flannagan:, right?
Ryan Flannagan:You need to make sure that those things are really taken care
Ryan Flannagan:of first before you do that.
Ryan Flannagan:So if you're fundamentals aren't good, if you don't have good reviews, you don't
Ryan Flannagan:have a good product listening, you're not analyzing, you're not tracking, then
Ryan Flannagan:any bright, new, shiny thing that you're going to do isn't going to work for you.
Ryan Flannagan:And we honestly find on Amazon and other platforms that the vast
Ryan Flannagan:majority of competitors are not doing it to the level that they need to
Ryan Flannagan:be doing it to be on this new age.
Matt Edmundson:There's a mic drop moment right there, isn't there?
Matt Edmundson:So, uh, if you are in effect, if you take it then if you are on Amazon
Matt Edmundson:and you're planning, doing some kind of strategy, the advantage at the
Matt Edmundson:moment is not everyone's on there.
Matt Edmundson:There are a lot of things which are competitive, but most of them aren't
Matt Edmundson:doing what they need to do for.
Matt Edmundson:For the, for the long term, for, for winning on Amazon, the, the growth
Matt Edmundson:driven strategy, which you talked about.
Matt Edmundson:And that's where the opportunity is right now.
Ryan Flannagan:Correct.
Ryan Flannagan:And in fact, we've put out a guide that you can download
Ryan Flannagan:at our site@nuancedmedia.com.
Ryan Flannagan:It's a growth driven kind of strategy, Amazon growth driven strategy guide.
Ryan Flannagan:Uh, and you can go on there, It'll pop up after you're on
Ryan Flannagan:the site for about five minutes.
Ryan Flannagan:That kind of goes over some of these key principles, what we see and really
Ryan Flannagan:how you should be focusing on some of the things that we actually covered
Ryan Flannagan:in this, uh, conversation today.
Matt Edmundson:Yeah.
Matt Edmundson:Fantastic.
Matt Edmundson:So dude, download that free guide from nuancedmedia.com.
Matt Edmundson:How do people reach you?
Matt Edmundson:How do people connect, Ryan, if they want to reach out, know more, connect?
Ryan Flannagan:Sure.
Ryan Flannagan:I'm on LinkedIn, I'm on Twitter, I'm on, uh, I got email.
Ryan Flannagan:I, I got all the things, but primarily ways to reach out, uh,
Ryan Flannagan:is through the website directly or through Twitter and LinkedIn.
Ryan Flannagan:I'm probably the most active on LinkedIn, although Matt and I kind of talked about
Ryan Flannagan:this, uh, my, uh, please don't judge me for my Twitter presence at this point.
Ryan Flannagan:Uh, we've been growing pretty quickly here at Nuanced Media and I've
Ryan Flannagan:prioritized maintaining our long term relationships with our active clients
Ryan Flannagan:compared to, uh, you know, social media posts and those type of things.
Matt Edmundson:Yeah, yeah.
Matt Edmundson:No, I'm with you.
Matt Edmundson:But don't judge me on my Twitter feed either.
Matt Edmundson:Uh, it's just, it's not helpful.
Matt Edmundson:It's, Yeah.
Matt Edmundson:I'm more than my Twitter feed.
Matt Edmundson:I, I feel like I, you know, that's, that's maybe a book I should write,
Matt Edmundson:Why I'm more than my Twitter feed.
Matt Edmundson:Sure.
Matt Edmundson:Uh, listen, it's been great to talk to you, Ryan, and of course we will link
Matt Edmundson:to Ryan's LinkedIn, his Twitter, his websites, get the, the, the strategy
Matt Edmundson:guide, all that sort of stuff you'll find in the transcripts and show notes,
Matt Edmundson:which are available on the eCommerce podcast website, ecommercepodcast.net.
Matt Edmundson:So there you have it.
Matt Edmundson:Uh, my conversation with Ryan.
Matt Edmundson:Thanks again Ryan, for joining me.
Matt Edmundson:It's been an absolute treat and a pleasure bud.
Matt Edmundson:And, uh, great to have you on the show.
Matt Edmundson:Uh, big shout out again to today's show sponsor the eCommerce cohort.
Matt Edmundson:Do head over to ecommercecohort.com.
Matt Edmundson:For more information about this new type of eCommerce community that
Matt Edmundson:you can join, be sure to follow the eCommerce podcast wherever you get
Matt Edmundson:your podcast from because we've got some great conversations lined up and
Matt Edmundson:I don't want you to miss any of them.
Matt Edmundson:And in case no one has told you today, you my friend are awesome, utterly awesome.
Matt Edmundson:It's just a burden we all have to bear.
Matt Edmundson:Can I get an Amen, Ryan?
Ryan Flannagan:Amen.
Ryan Flannagan:Hallelujah.
Matt Edmundson:That's just the way it is.
Matt Edmundson:Now, the e-Commerce podcast is produced by Aurion Media.
Matt Edmundson:You can find our entire archive of episodes on your favorite podcast app.
Matt Edmundson:The team that makes this show possible is Sadaf Beynon, Josh Catchpole,
Matt Edmundson:Estella Robin and Tim Johnson.
Matt Edmundson:Our theme song has been written by Josh Edmundson and My Good Self.
Matt Edmundson:As I mentioned, if you'd like to read the transcript or show notes,
Matt Edmundson:head over to the ecommercepodcast.net website where you can also sign up
Matt Edmundson:for our newsletter, coincidentally.
Matt Edmundson:So that's it for me.
Matt Edmundson:That's it from Ryan.
Matt Edmundson:Thanks for joining us this week.
Matt Edmundson:Have a fantastic week wherever you are.
Matt Edmundson:I will see you next time.