From the archive: This episode was originally recorded and published in 2020. Our interviews on Entrepreneurs On Fire are meant to be evergreen, and we do our best to confirm that all offers and URL’s in these archive episodes are still relevant.
Jake Cohen leads Product Marketing at Klaviyo. He loves his family, marketing funnels, and golf – in that order.He started going grey at 9. Draw your own conclusions.
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Resource
Klaviyo – The growth marketing platform built for online businesses. – (Sorry! This link was active when this episode was first published in 2019 but is no longer an active offer.)
3 Value Bombs
1) You should focus on e-commerce brands – or any brand that sells online.
2) If you are in a new essential category, you should increase your ad spend.
3) Klaviyo’s mission is to help businesses grow and to help you see your dream come to life in the real world.
Sponsors
Thrivetime Show: Is this your year? Visit ThrivetimeShow.com/eofire to see how Clay Clark’s business coaching has helped thousands of entrepreneurs to dramatically increase profitability!
HubSpot: Learn how HubSpot can help your business grow better and get a special offer of 20% off on eligible plans at HubSpot.com/eof!
Show Notes
**Click the time stamp to jump directly to that point in the episode.
Today’s Audio MASTERCLASS: How To Make Your Brand Thrive In A Post COVID-19 World With Jake Cohen
[1:38] – Jake shares something interesting about himself that most people do not know.
- He grew up having dinner table conversations around how to improve the efficiency of a funnel, how to get new customers, and how to make sure your employees are happy.
[3:13] – Living in a post-COVID-19 world – what are people buying and why?
- After doing a deep-dive on daily sales transitions, they determined that the sales for E-commerce businesses are booming nowadays. The average sales per day in April is 40% higher than the average sales per day in March.
- The New Essentials category:
- You are buying things because you are stuck at home.
- Activewear, Sporting goods, Electronics, Home improvements, Health and Beauty, and Toys and Hobbies.
[7:55] – What are brands doing right now that is working?
- Most people are still following Maslow’s hierarchy of needs.
- Food – 3 weeks’ worth of groceries.
- Security – Hand sanitizer, toilet paper, and paper towels.
- Belonging – Office supplies – to set up an office environment.
- Self-esteem – Fitness equipment, beauty, and cosmetics.
- Self-actualization – Toys and games, and other electronics to play.
- Sales are up from the new customers, which represent 68% of revenue.
- New customers are finding brands.
- Brands are speaking to the “new normal”, and consumers are responding well.
[10:59] – What should I do with my brand as a result?
- You should focus on e-commerce brands – any brand that sells online.
- The important thing to do is to collect email addresses from your website and to advertise.
- You should invest in new customer acquisition.
- Take the arbitrage moment – you can establish a connection with prospects, add massive value, and communicate for free.
[15:07]– A timeout to thank our sponsors!
- Thrivetime Show: Is this your year? Visit ThrivetimeShow.com/eofire to see how Clay Clark’s business coaching has helped thousands of entrepreneurs to dramatically increase profitability!
- HubSpot: Learn how HubSpot can help your business grow better and get a special offer of 20% off on eligible plans at HubSpot.com/eof!
[17:44] – What is happening with ad spend? Should you spend more or less on advertising?
- If you are in a New Essential category, you should increase your ad spend.
- You may try to consider pre-orders so that you can use the cash on ads.
[20:17] – What will happen later this year?
- Jake built his models on what he expects to happen with public health.
- 92% of businesses open, but only 60% of people go back to work.
- The majority of people in retail and entertainment will not go back to their normal jobs.
- E-commerce spending goes up.
- Purchasing online is more reliable and comfortable.
- The holiday season could be a big deal for online sales.
[25:26] – Jake talks about Klaviyo.
- Klaviyo’s mission is to help businesses grow and to help you see your dream come to life in the real world.
- Jake’s career mission is to take large brands that have budget and expertise, and help them use it to productize and communicate as inexpensively as possible so you can operate and grow your business like the big brands (but at a more affordable rate.)
- Klaviyo – The growth marketing platform built for online businesses. – (Sorry! This link was active when this episode was first published in 2019 but is no longer an active offer.)
[28:58] – Thank you to our Sponsors!
- Thrivetime Show: Is this your year? Visit ThrivetimeShow.com/eofire to see how Clay Clark’s business coaching has helped thousands of entrepreneurs to dramatically increase profitability!
- HubSpot: Learn how HubSpot can help your business grow better and get a special offer of 20% off on eligible plans at HubSpot.com/eof!
Killer Resources!
1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!
2) Free Podcast Course: Learn from JLD how to create and launch your podcast!
3) Podcasters’ Paradise: The #1 podcasting community in the world!
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