Limited Supply

S8 E12: Listener Mailbag: Biggest Mistakes Brands Make, Bankruptcy Predictions, and How to Get More Reviews

Jul 10, 2024

Discussing the biggest mistakes DTC brands make, Necessity of repeatable sales processes, Legal mistakes that could be fatal, Allocating ad spend effectively, Getting the first customer, Encouraging customer reviews, Predictions for retail bankruptcies in 2024

38:35

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Quick takeaways

Establishing repeatable sales processes is crucial for D2C brands' sustained growth.

AI tools offer potential for personalized marketing, but their impact on success varies.

Incentivizing customer reviews with promotions and creating valuable experiences boosts engagement and loyalty.

Deep dives

Increasing AOV and Driving Email Engagement

To improve sales on a Shopify site and shift customers from Amazon, offering incentives like a free item for email sign-ups can be effective. By creating exclusive deals on the Shopify site, such as package discounts or free gifts with purchases, brands can entice consumers to choose their site over Amazon, enhancing the perceived value and encouraging repeat purchases.

Choose Partners Wisely and Prioritize Understanding Your Product

01:29

Authenticity and Originality in Branding and AI

00:46

Incentivizing Affiliate Marketing and Plain Text Reviews for Improved Customer Engagement

00:50

Intro

3min

Common Mistakes and Strategies for D2C Founders

14min

AI and Creativity in Marketing, Ad Spend Allocation, and Business Lifecycle

5min

Creating a Brand Movement with Strategic Marketing Tactics and Predictions for Retail Trends

10min

Challenges and Strategies for Brands with Low AOV Transitioning to Direct-to-Consumer

3min

Strategies for Offering Exclusive Products and Gratitude for Podcast Experience

3min

You ask the questions. We answer them.

It’s been a while, but Nik and Moiz are pulling out the Sorting Hat to pull out some of your juiciest, most pressing DTC questions. The guys reflect on some of the biggest mistakes DTC brands make (and they’ve seen plenty) and discuss why repeatable sales processes aren’t a nice thought— they’re an absolute necessity. What’s the one legal mistake that could be your DTC’s ultimate downfall?

And later the guys discuss where you should allocate your ad spend, how to acquire your first customer, and how to encourage customers to leave reviews (without resorting to flat-out bribery).

Which businesses will go bankrupt in 2024 (RIP Big Lots, and whatever it is you sold)? Nik and Moiz also reveal how another business’s bankruptcy might spell doom for fine breastaurant establishments everywhere.

00:00:00 - Answering 50 Listener Questions

00:00:39 - Biggest Mistakes of New DTC Founders

00:05:45 - Biggest Mistakes Brands Make at $10M+

00:09:35 - Best Way to Acquire Customers in 2024

00:11:32 - Real Impacts of AI in Marketing

00:17:37 - Efficiency vs. Ad Spend Trade-off

00:20:27 - How to Get Customer Reviews

00:22:57 - Encouraging Social Media Reviews Effectively

00:29:12 - Predicting Retail Bankruptcies in 2024

00:31:56 - Switching from Amazon to DTC: Survival Tips

00:36:00 - Moiz’s Final Sign-Off

Want more DTC advice? Check out the Limited Supply YouTube page for more insider tips.

Check out the Nik’s DTC newsletter: https://bit.ly/3mOUJMJ

And if you’re looking for an instant stream of on-demand DTC gold, check out the Limited Supply Slack Channel for Nik and Moiz’s most unfiltered, uncensored thoughts.

Follow Nik:

Twitter: https://www.twitter.com/mrsharma

Follow Moiz:

Twitter: https://www.twitter.com/moizali