Listen: Amazon, Facebook discussed on Freedom Fast Lane with Ryan Daniel Moran
"How a were specialists, and it just about selling more stuff rather than serving any specific pain point person. Brecca more get and so they never have anything that they can scale. Exactly. And I think that again, I see this way more in physical products and specifically Amazon businesses than I've ever seen in any other industry because you can't sell without ever knowing who's buying right? And so it's like a lock companies star. Out being all about you. Right. Because you have idea in the first place is true intact. This drew media true in in every category. Right. But in most of those other categories, very quickly you have to reenter ender customer because you have like a business to business suffer as a service product. Right. Like, you need to know who you're selling to or no one's going to buy it. Right. You need to be solving a pain point, you need to know, what your your you're selling to is going to respond to or you're not going to be able to go through that sales process. Yeah. Right on it is on. It's like throw stuff up and people buy it, you feel like you're successful. Because of that as long as they have great reviews your cheaper than everybody else. You can sell a lots of things exactly one person can win that game. Exactly. And sell a lot of widgets. But it's really hard to go run a Facebook ad or are converting video that goes in converts those people into cheap buyers at low margin. Yes, exactly. Is there a way for people who do well on Amazon to make the pivot into being a brand? Yeah. Absolutely how so I think the first off or the first piece again is like an I'm just going start a broken record. It's like figuring out a way to go talk to customers. Right. How many times do you have to say that to a client in order to get them to finally get it like at least ten? And the people who get it in my my best clients that people who are most successful coming out of these engagements. Right. Are the people who do understand who do sense that? There's a gap that they don't know who that they're serving. And they want to bridge that gap. Right. That's where it starts from. But. Yeah, I mean, I think the it's it's figuring out who your customers are right in can't just be like, oh, the thing that ties them together is like, you know, where where my product was ranked on the day that they searched for this. Right. You have really have to dig in and figure out what type of people are these like what what kind of problems they look into solve. What story are they turn to where the trying to get? Right. And then I think it's taking a good hard. Look at your product mix and saying am I selling these at at high enough margins? Do I have kind of value ladder that I can take people up can like I'm stunned at the number of people who don't look at the kind of basic equation of like how much does it cost for me to acquire a customer versus what is that customer worth over the lifetime of their relation. Ship with with my business. Would you say that one more time I'm stunned at the number of people who don't kind of think about the basic equation like how much does it cost for me to acquire a customer, and how much is that customer worth over the lifetime of their relationship with my business. Yeah. So many people just chase the sale, right? They're going to one say on single point in time sale.."