Oren Meets World
speaker
86 appearances
1 recordings
1 series
first heard Sep 2024
last heard Sep 2024
Oren Meets World’s voice in public audio — every appearance, attributed to the second.
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Let's go.
Yeah, well, it's interesting because you do want to let's go back to marketing from utility. So a friend of mine has a TikTok shop that's smashing it where he sells cologne and he sells a cologne called Her Loss named after the Drake. And it is a pheromone cologne because he's playing on it's 130 bucks or 95 bucks or whatever it is. I guess we're down to 80 on Amazon.
And they're playing into that idea that there is a chemical attraction element to what cologne can do for you. And that is a perfect scenario for the TikTok shop. But I think it's, you know, because people aren't going to notice what that width is and no one's going to recognize the Creed scent.
I think, you know, if you really want to make something in that niche and you don't have the infinite marketing budget, apparently Creed has, then you have to go back to a good old fashioned chemical utility, whether it works or not.
So basically, you can click into this core store. So basically, you'll see the hard part about this is that all these people have like 50 accounts now. But if you go to the core one that has the store on it and click over into shop, the individual items will have how many units sold on there behind them.
He's pretty, uh, uh, his, his handle, he's pretty open about it. Like, but they're, they're doing a couple of hundred K a month just in the cologne. Like he's, he's on Instagram talking all about that, you know, full, full, full guru life. So yeah, so I think they're, they're doing really well on that. Well, I think look at the, the alpha there for the ideas podcast is that like,
There's a young demographic online that are discovering these experiences for the first time. Cologne, right? And there's a ton of influencer videos on colognes. If you see these, these guys have these like cologne collections.
So there's all these influencers have like 50 and then they'll pull the bottle out like really close in front of the camera, like a macro shot, some ornate, like a good example, the John Varvatos bottles are great examples, like ornate crazy bottle. And then they'll take the whiff and they'll be like talking about it or whatever.
And there's all these, you know, when we were supposed to cologne, whenever we were growing up, like, I don't know, it's like whatever my dad had or like some stuff I saw on a magazine ad. Right. And this is they're getting exposed to it through these insane people on it, on TikTok. And then they're going, hey, I want to start my own journey. What does that look like? But guess what?
If you watch a video on cologne on Instagram, you're going to get shown more videos about cologne on Instagram. So if you've and then if it's a TikTok shop video. where someone's actually purchasing product recurring from it, Instagram's weighting that super heavily in the cologne algorithm. So basically, as soon as you start down that rabbit hole, you're getting hit with her loss, right?
Or with my boy's product and who's hijacking that consumer journey. Who's saying, yeah, instead of finding out any other way, a native TikTok shop brand is taking advantage of that opportunity inside culture. And that is a really interesting concept to me.
All right. So TikTok shop is a scale game. This is the thing that breaks most CMOs brains right now. Back to our comment about one TikTok account, whatever they started off the account with. TikTok is a game of affiliates, right? So basically other people that create content for your brand and they link your product and they get a percentage of that sale. Most of them are also on retainer.
So for instance, I ran TikTok shop at this brand I was at. I was a CMO. Previously, we had a toy brand. We had five or six creators that were on monthly retainer, 1,500 to 2,500 bucks. This is very typical. Bigger brands will build this up to 50 creators, 100 creators. They are thirsting for creators to be able to do this because it's a lucrative system.
For that 1,500, 2,500 bucks a month, they make, let's say, 15 to 20 videos, sometimes more that are about that. And there's software doing it too, not related to shop, separate combo. And... If those videos go well, people buy product from them on TikTok shop. That creator gets a percentage that goes in their bank account. That's why you see all these kids now.
There's a lot of kids aged 20 to 25 who are in these discords, like the collective and stuff like that. Or I think they just changed their name. It's called Your First Dollar, where they are making 10, 15 grand a month, 25 grand a month off these commissions, flaunting that on the internet, because of course that's what we do now, but like actually making good money.
And like that is a really interesting opportunity because they're doing it off of like affiliate sales. But the thing is, there's no limit to the scale of that currently because TikTok is so wide. And we all look at creators differently, right? When I was first making content, I was at like 100K. I noticed someone was jacking my content. Someone was copying my videos word for word.
And they had like 40,000 followers. I was like, oh man. But I went and looked at the account. They look different than me, different race, general different overall vibe, completely different follower base, almost no overlap to my follower base. And that's like the important concept to understand is that everyone's TikTok algorithm is different. They want to see different people.
They have different interests. They have different niece. And then the TAM of that is like ludicrously wide. So if you look at a TikTok shop brand, you go... If I'm Goalie, who's like a gummy brand, okay, every single person on the earth is my TAM for this, right? And I also sell this on Amazon. So I'm gonna have young creators of every gender, race, overall vibe, content type.
I'm gonna have middle-aged creators, older creators. I wanna cover as many as I can, as long as I can make the math work from an affiliate perspective that they get 20% of the sale, I get the other money off TikTok shop. I have a certain splash over into Amazon and now TikTok and Amazon are becoming one for that fulfillment. Like that is the size of the opportunity.
And you'll see why I bring up Goalie from the start is their incentive package for affiliates going into Q4 is insane. What I mean by incentive package is basically if you generate enough GMV, like the market value of sales there, it's like Rolex. Lamborghini, a condo in Miami, night at Amangiri. That's the level which we're talking about for these kids. And that's the promoted program they have.
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