Podcast Summary: Brain Driven Brands Episode: Gut Driven Brands! Nate & Producer Scotty Take Over! Release Date: December 3, 2024
In this special episode of Brain Driven Brands, host Sarah Levinger is absent, allowing Nate and Producer Scotty to steer the conversation. Titled Gut Driven Brands, the episode delves into instinct-based marketing strategies that complement advanced neuromarketing tactics. Nate shares four actionable tactics to enhance e-commerce marketing through gut instincts, while Scotty provides insightful interjections that add depth and clarity to the discussion.
1. Stay Close to the Ground Floor of Your Work
Nate emphasizes the importance of being intimately involved with the foundational aspects of your business operations.
Key Discussion: Nate begins by advocating for leaders, especially CMOs and heads of growth, to maintain hands-on involvement with critical platforms such as ad accounts, Klaviyo, intelligence accounts, and Shopify. He argues that understanding the nitty-gritty details allows for the identification of subtle changes that can significantly impact business outcomes.
Notable Quote:
Nate [01:13]: "There's no excuse not to be in your ad account. There's no excuse not to be in your Klaviyo account and your intelligence account and your Shopify every single week."
Scotty’s Insight: Scotty questions the practicality of Nate’s approach, prompting Nate to clarify that while delegation is essential as a business grows, leaders must still oversee and understand the granular details to make informed decisions.
Notable Quote:
Scotty [02:24]: "I think that's kind of the bold move."
Nate [03:13]: "I started running our Facebook ad account myself two years ago and what I've learned from it is massively valuable across every layer of our marketing."
2. Connect Your Daily Tasks to One North Star Metric
Nate underscores the necessity of aligning all business activities with a single, overarching metric to ensure cohesive growth.
Key Discussion: Nate explains that businesses often falter by trying to optimize multiple metrics simultaneously, leading to confusion and diluted efforts. By selecting one North Star metric—typically a profit goal—teams can streamline their focus and enhance decision-making processes. This approach prevents conflicting objectives, such as pursuing revenue and marketing efficiency ratio (MER) goals that may not align.
Notable Quote:
Nate [08:20]: "Jesus said, you can't serve two masters. I say in business you can't serve two metrics."
Scotty’s Perspective: Scotty agrees, highlighting the challenges small brands face when balancing sales and profit. He emphasizes that prioritizing one metric over another can lead to more sustainable growth.
Notable Quote:
Scotty [10:03]: "Everybody wants sales or profit, but you have to pick one."
Example Provided: Nate shares how his company shifted from MER goals to contribution margin goals, resulting in tripling the company's size and improving profitability, despite a less favorable MER.
Notable Quote:
Nate [13:16]: "We've tripled the size of the company and our bottom line is way better than it used to be."
3. Stay Close to or Become Who Your Customers Are
Nate advocates for deeply understanding your customers by immersing yourself in their experiences and perspectives.
Key Discussion: Understanding customers on a personal level allows businesses to tailor their products and marketing strategies effectively. Nate uses his experience selling watches made from whiskey barrel wood to illustrate how embodying the customer's lifestyle can enhance product relevance and appeal.
Notable Quote:
Nate [17:02]: "Get as close to your customer as you possibly can, even if it's just a thought experiment for like a week."
Scotty’s Story: Scotty shares his personal journey of embracing aspects of Nate’s customer base, highlighting the psychological benefits of aligning closely with customer identities.
Notable Quote:
Scotty [18:48]: "But I'm fine. You know, I'm fine."
4. Document Monthly Business Happenings and Feelings
Nate highlights the value of regular introspection through documentation to refine business instincts and strategies.
Key Discussion: Maintaining a monthly journal of business activities and personal feelings helps leaders reflect on their experiences, recognize patterns, and make informed decisions. This practice fosters a deeper understanding of what drives business success and addresses anxieties proactively.
Notable Quote:
Nate [19:31]: "Once a month, I want you guys to document what's happening in your business and how you feel about it."
Scotty’s Advice: Scotty encourages embracing financial literacy by collaborating closely with CFOs to better understand financial health, budgeting, and the interplay between marketing and finance.
Notable Quote:
Scotty [14:28]: "Cuddle up to that CFO, get to know them, and work on budgets to understand the math."
Conclusion: Balancing Brain and Gut in Marketing
Nate and Scotty wrap up the discussion by reiterating the importance of integrating gut instincts with analytical strategies. They emphasize that while data-driven approaches are vital, leveraging personal insights and instincts can provide a competitive edge in the dynamic e-commerce landscape.
Final Thoughts: Nate acknowledges the significant improvements since adopting a more brain-driven approach under Sarah’s guidance, reinforcing the synergy between instinctual and analytical marketing methods.
Notable Quote:
Nate [22:12]: "Work with Sarah. Make more money. Buy nicer whiskey, buy a farm and be happier."
Shout-Out to Sarah: Despite the episode being a guest takeover, Nate and Scotty pay homage to Sarah Levinger, acknowledging her pivotal role in their marketing success and encouraging listeners to follow her expert advice.
Notable Quote:
Scotty [21:45]: "Sarah Levinger is a badass. Do what she says to do."
This episode provides invaluable insights for e-commerce brands seeking to blend instinctual decision-making with data-driven strategies. By staying engaged with the core aspects of their business, focusing on a singular metric, deeply understanding their customers, and maintaining regular introspection, leaders can foster sustainable growth and enhanced profitability.