Steven Pope

That is one of the biggest mistakes that I see in this day and age where I personally love email marketing and I almost equate and sometimes email marketing to retention marketing.

but retention marketing is a little bit layered deeper because it also includes things such as sms marketing which a lot of brands i know are very hesitant because they feel like it's almost too personal and they're getting into people's bubbles and it's going to cause people to unsubscribe and not like their brand but it's just not true most people will pick up their phone at the end of the day they see the text and if they're not interested boom they swipe away they're not going to look at it and they're not going to look at your brand and be like ah

I don't want to buy from them anymore because they decided to send me a text.

And so building in both email and SMS into your retention sequence is super crucial to be able to grow brands because that is how you again build a customer base.

Roughly 25 to 30% of your entire customer base and your entire sales monthly should be from a retention angle of keeping customers on board.

and getting repeat purchases and that's what comes into again something like subscriptions so if you are a cpg brand who has very high repurchasability you're selling a supplement you're selling hair oil you're selling a treatment of some kind then absolutely focus on subscriptions if you don't have a form for your customers to do subscriptions then you're going to be too reliant on trying to email them every single month

and getting them back in to purchase your product again, when the reality is you could just get them on the subscription, charge the card and then boom, send it out to them.

They get that every single month.

They might think about it ahead of time.

They might not think about it, but you're always there for them.

And so that is the core of what retention is.

And that is one of the more crucial aspects of building up to that million dollar mark per month.

Now, the final one is, I think, the hardest for every single brand owner and is the make or break rule, in my opinion.

And that is understanding unit economics and the scale of them.

So many brands I talk to can never reach million dollars a year or even million dollars a month because of the fact that they don't understand the unit economics of scale.

What I mean by that is that they are too worried about the idea of being profitable

at every single moment they possibly can.

And therefore they cut back and pull back way too much when they should be pushing forward.

What's an example of this?

Well, a great example as talked about, right?