Transcript
A (0:00)
Guys, welcome back. Sweat equity. So on today's episode, we're going to be talking about the four ways that brands fail. Usually we're talking about growth tactics and marketing strategies that work, but these are going to be the pitfalls that you want to avoid. So we're going to use super specific examples, and at the end of this episode, you'll know exactly what not to do on the journey of growing your brand. All right, let's get into it. Do you trust anything that comes out of Logan Paul's mouth?
B (0:22)
Not Logan Paul, not Jake Paul. And I think the funniest thing that I heard in a while was when we were meeting with Greg from Bloom last Friday and we were talking about get w. Yeah. And he was like, why would I want to ever smell like Jake Paul? Does Jake Paul smell. Look like someone I'd want to smell like?
A (0:38)
He looks very musty. And, you know, I think that was part of the Persona for a while. Maybe he'll clean it up, though. You never know.
B (0:45)
But then it was like the other guy. Who's the other.
A (0:47)
I hesitate to talk about Jake Paul, though, because he might, I mean, broken throw hands, ultimately cool. It's got to stay far away.
B (0:54)
The other guy was like, Sean o'. Malley. Like, why would you want to smell like Sean o'? Malley?
A (0:58)
No, they got the musty starting five as the ambassador. So the reason I bring up Logan is I think prime has seen one of the quickest rises and falls from grace that maybe in business history. I mean, you know, I think they were the fastest company to maybe 200, 300 million in sales. Now they're down 50% year over year. I mean, that's a catastrophe. And in a market where most of your revenue is wholesale dependent on, you know, 12 to 18 month purchase orders in advance. And the whole reason that they have failed is loss of trust. So the brand obviously did two things that was really bad. Number one is their manufacturing got taken into question. Like, everyone was like, oh, is there lead in this? Or are there, you know, carcinogens, whatever it may be? But also they tried to release an energy drink for kids and Crazy. Yeah. I think in. In retrospect, like, you just think about how everyone's adhd, medicated, all this. It's a very sensitive topic, you know, and when you have so much influence, then it's very possible to, you know, influence people in the wrong way. And I think that was what was so threatening about Prime Energy. Like, yo, how are you sneaking caffeine into kids? I already need my Kid to chill out. Like, I'm already trying to medicate them. So I think the first one is loss of trust. You know, as a brand, like your, your goal should be from the jump. Like, how are you going to, how are you going to build as much trust with people as possible? I mean, think about any supplement industry, right? Like, there are so many different ways that you build trust. I think in the apparel industry, one of the best ways is to have people trust that it's going to fit, right? Like, they want to be able to trust that the pants are going to be the right length, that the cut is going to be good enough. You know, obviously in the supplements industry, they need to trust that the product is going to work. But even then, how do you establish that trust? You know, you prove out the manufacturing, right? Like you say, this is where we're sourcing the product. Think about Flamingo Estate brand. We used to talk about a lot on here. It's so funny. They're kind of moving into the supplements industry. I mean, it comes for all of us. But they're releasing Shilajit, right, which is like this, you know, black sludge ingredient, whatever. I guess it boosts your tea.