– A highly experienced customer acquisition specialist and a strong product person are necessary for creating a successful DTC company.
– Acquisition is more important than product in today’s environment.
– Marketers often lack technical skills, imagination, and focus on the wrong KPIs, leading to deficiencies in the profession.Diversify your channels and focus on acquiring highly experienced customer acquisition specialists to create a successful direct-to-consumer (DTC) company.In the article I shared yesterday, this was the line that stood out the most for me: “You need a highly experienced customer acquisition specialist combined with a strong product person to create a great DTC company,” said Yash Patel, general partner with Telstra Ventures. “I think that there are just too few people that have that DNA.” I 100% agree. Product matters, but acquisition matters way more in my personal opinion, especially in today’s environment.
I’ve talked a lot about the deficiencies in marketing as a profession. There are tons. They are becoming more obvious too and will continue to do so post iOS 14. “Diversify your channels!” If you were executing a good omnichannel strategy, then iOS 14 shouldn’t have impacted you. The thing is, I bet it still impacted you because Facebook’s data algorithms were better than everyone else. Hello Facebook for the win.
It’s time we just admitted that Facebook was hands down the best at targeting people, has more data, more relevant data, and well, it took the wind out of a lot of sails when Apple made changes (for the better, I believe). Yet every day there’s some post about someone moving budget to TikTok or Google or whatever. You’re not addressing the problem that underlies the issue: understanding what quality traffic is, where it comes from, and how to build a customer journey that gives you the best possibility of having them convert.
I read a lot of what marketing gurus write in articles and publications, and honestly, it’s played out and lacks any real insight. I’m not anti-marketers, I’m anti-thinkers. A few observations about marketers: they lack technical skills, they lack imagination because of the lack of technical skills, they focus on the wrong KPIs, they lack context for a lot of the decisions they make, they confuse being data-driven with data literate, one has to come before the other. Cracks are beginning to show. Murmurs are circulating in the air.
Pay attention to what JD Jernigan is doing and the space he’s playing in. My prediction is he’s going to be very, very busy come Q1. #marketing #dtc #ecommercehttps://www.linkedin.com/in/jivanco