Mind Pump: Raw Fitness Truth 1755: Insider Secrets of the Supplement Industry With Mike Matthews
Feb 21, 2022
Mike Matthews, founder of Legion Athletics and author of 'Bigger, Leaner, Stronger,' dives deep into the supplement industry's hidden truths. He reveals how supply-chain issues impacted his brand and why Facebook ads are losing their effectiveness. The conversation highlights unethical marketing tactics, the importance of quality standards, and the rising recognition of creatine's cognitive benefits. Mike also shares insights from his new book, emphasizing the importance of personalized coaching in fitness.
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Supplement Profit Margins
- Supplement profit margins can be surprisingly low, even for successful companies.
- A 15% profit margin is considered very successful in the supplement industry.
Facebook Ad Effectiveness Decline
- Facebook ads have become less effective, possibly due to iOS updates and attribution issues.
- Mike Matthews stopped Facebook ads entirely with no negative impact on revenue.
Ad Agency Scaling Issues
- Many ad agencies prioritize scaling over consistent results.
- They often staff less important accounts with lower-skilled employees, leading to subpar performance.
