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The 3 Rules of Morning Brew’s Sales Strategy

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Scott D. Clary Hacker Noon profile picture

@scott-d.-claryScott D. Clary

Host of The Success Story Podcast | Founder/CEO @ROIOverload | Forbes, Hackernoon, Startup

Morning Brew is one of the fastest-growing business newsletters started by co-founders Alex Lieberman and Austin Rief, from a dorm room at the University of Michigan in 2015 as a hobby — first as a means of engaging other students, then locals, and then a few years later around 2.5 million modern business leaders (MBL), eventually being purchased by Business Insider for $75m.

However, before they could sell, before they built their business, they had to learn how to sell.

Neither of the founders had any experience in sales, ad sales, marketing, or really any other kinds of commercial transactions. This was a major problem for the two full-time entrepreneurs trying to figure out how to make money.

First, they went out and spoke to every single person they knew in their network who was working in agencies, sales, marketing and just focused on consuming as much information as they possibly could.

Rule #1. Sell with stories. Paint a picture.

The MB team did a fantastic job building their reader’s profile for the “Modern Business Leader”. This allowed them to tell an incredibly impactful story of why advertisers should purchase ad space in the newsletter and who they would be communicating with.

Tip. Write down a few meaningful stories that you can quickly tell your customer while you’re pitching/demoing your product.

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Rule #2. Sell the vision and dream. Don’t focus on the product.

Buyers want to buy products from people that align with their companies vision. The MB team focused on the lifestyle and audience that the ad buyer was tapping into. They didn’t speak about CPM, CPC, newsletter audience size or open rate.

They focused on selling the concept of the target reader/audience being a “Modern Business Leader”, and highlighted the perfect audience member that the buyer needed to get in front of.

As opposed to how advertisers traditionally sell, incorrectly focusing on product features.

Tip. People buy with trust and justify with logic. If the buyer feels as though you are synced up with their vision, you’re honest, and they like you. They’ll justify buying from you, even if you aren’t the cheapest / best option.

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Rule #3. Solve business problems and personal problems of people in the business.

Remembering that the people they were selling to needed to justify their purchase to their own managers so they focused on being the choice that would make the buyers look good. They also focused on agencies that were more open to taking a risk, and they identified their ideal customer profile, and part of that profile had more of a propensity to smaller, niche outlets that accepted new ideas and a little bit of risk.

Tip. Remember, even in B2B; you’re still selling to people. Remember that every person you’re selling to has personal problems they’re trying to solve in their work. They all have managers they need to make happy. Solve the problems of the people you’re selling to, and they’ll be much more likely to purchase your product.

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Sometimes the best way to learn something is to start with a blank slate.

The MB team understood the value of identifying their USP (unique selling proposition — modern marketer), telling stories, building trust, identifying their ICP (ideal customer profile), solving problems, and being human when they sell.

This is a master class in sales.

Also published on https://newsletter.roioverload.com/p/tax-free-burgers-morningbrew-and.

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Source: https://hackernoon.com/the-3-rules-of-morning-brews-sales-strategy-4n4l35bq?source=rss

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3 Factors Which Affect Cryptocurrency Price

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Cryptocurrencies are playing an ever greater role in the way we live our lives, including how we spend our free time online. Increasingly, people are logging on to sites like nolimit casino to enjoy the strategy of blackjack, the thrill of roulette and the entertainment of slots, all while funding their enjoyment using cryptocurrency as a form of payment.

But unlike traditional means of currency, crypto is often subject to volatile price fluctuations, meaning that it can be worth significantly more (or less) one day than it is the next. This can make managing a crypto wallet a difficult endeavor for those who favor the payment system when gambling, shopping and browsing online – so how can they stay abreast of the latest developments in the sector and better understand the factors which affect the market? Here’s a quick run through some of the biggest contributors to the rises and falls of cryptocurrency valuations.

Supply and demand

As with any commodity, a cryptocurrency is only worth what others are willing to pay for it. Some, like Bitcoin, have benefited from the fact that there is a finite supply – some 21 million Bitcoins in total, with around only four million that have yet to be mined. This means that the supply will never increase above that figure, even as demand continues to grow. By contrast, Ripple has a cap of 100 billion XRP coins, over half of which had yet to be mined at the time of writing. This surplus of supply means that Ripple is a lot cheaper than Bitcoin – at least for now.

Regulations

Because it’s a very new technology, there is understandably a considerable amount of hesitancy among the investment community when it comes to trading in cryptocurrencies. As they become more commonplace and widely accepted in society, that trepidation is likely to ebb away in the long term – especially if they come to be formally recognized by national governments. Of course, the inverse is also true, as was recently witnessed with the news that China has banned financial institutions and online payment companies from accepting cryptocurrencies earlier this year. The shockwaves from the announcement saw crypto prices come tumbling down around the globe.

Public perception

It isn’t just a country’s official stance on crypto which can have a huge bearing on its value, either. Public perception of a commodity is shaped by a wide variety of factors, including the views and actions of societal leaders. A prominent example of this kind of factor occurred earlier this year, when tech billionaire and CEO of Tesla Elon Musk said that he would be dropping all use of Bitcoin until the technology behind the currency became more eco-friendly. The ramifications of Musk’s announcement not only put a squeeze on the price of Bitcoin, but also had a knock-on effect on the valuations of almost all other cryptocurrencies, as well.

Due to their volatility and unpredictability, cryptocurrencies can represent a risky investment. However, the factors which affect their fluctuation in price can be clearly traced, allowing savvy investors to make informed decisions on when to buy and sell crypto.

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Techcrunch

Tumblr debuts Post+, a subscription service for Gen Z creators

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As Twitter launches Super Follows, YouTube adds new monetization tools, and Instagram embraces e-commerce, the social media sphere is heating up with new ways for creators to make a living. Now, Tumblr is joining the fray with Post+, the platform’s first attempt at allowing users to monetize their content. Post+ is debuting today in limited beta for an exclusive selection of creators in the US, who were hand-picked by Tumblr.

Like Twitter’s Super Follows, Tumblr’s Post+ lets creators choose what content they want to put behind a paywall, whether that’s original artwork, personal blog posts, or Destiel fanfic. Creators can set the price for their subscriber-only content starting at $3.99 per month, with additional tiers at $5.99 and $9.99. The process of making content under Post+ is the same as any other Tumblr post — all creators will have to do is check a box to indicate that the post is for paying subscribers only, whether that’s a video, audio clip, text post, image, etc.

Image Credits: Tumblr

“Not reserved only for professionals, or those with 10K followers or higher, Tumblr’s Post+ will push the boundaries of what’s considered money-making content on the internet: Shitposters, memelords, artists, fan fiction writers, all of the above and everyone in between will be able to create content while building their community of supporters, and getting paid with Post+,” a Tumblr spokesperson told TechCrunch.

For millennials who live-blogged their reading of the last Hunger Games” book on its release day in 2010, Tumblr might seem like a relic of the past. Founded in 2007, the platform has gone through plenty of change over the years. In 2013, Tumblr was acquired by Yahoo for $1.1 billion, and then Yahoo was later acquired by Verizon.

But a massive shift came for Tumblr in December 2018, when the platform banned all sexually explicit content and pornography. A month prior, the Tumblr app had been removed from the iOS App Store after child pornography passed through the app’s filtering technology, which led the platform to ban pornography entirely. Four months after the ban, Tumblr’s monthly page views had declined by 151 million, or 29%. Since then, the platform has retained a core userbase, hovering between about 310 million and 377 million page views per month, according to SimilarWeb, though the analytics still indicate a slight downward trend. Tumblr declined to provide its monthly active user numbers, but shared that the platform has over 11 million posts per day and 500 million blogs.

In 2019, the platform was sold to Automattic, the company that owns WordPress. Though Tumblr hasn’t exhibited significant growth since the fateful porn ban, under its new ownership, it’s exploring new ways to generate profit by creating features that appeal to its now younger demographic. According to Tumblr, over 48% of users are Gen Z. These Gen Z users spend 26% more time on the platform than older bloggers, and their average daily usage time is increasing over 100% from year to year.

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Source: https://techcrunch.com/2021/07/21/tumblr-debuts-post-a-subscription-service-for-gen-z-creators/

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Techcrunch

Tumblr debuts Post+, a subscription service for Gen Z creators

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As Twitter launches Super Follows, YouTube adds new monetization tools, and Instagram embraces e-commerce, the social media sphere is heating up with new ways for creators to make a living. Now, Tumblr is joining the fray with Post+, the platform’s first attempt at allowing users to monetize their content. Post+ is debuting today in limited beta for an exclusive selection of creators in the US, who were hand-picked by Tumblr.

Like Twitter’s Super Follows, Tumblr’s Post+ lets creators choose what content they want to put behind a paywall, whether that’s original artwork, personal blog posts, or Destiel fanfic. Creators can set the price for their subscriber-only content starting at $3.99 per month, with additional tiers at $5.99 and $9.99. The process of making content under Post+ is the same as any other Tumblr post — all creators will have to do is check a box to indicate that the post is for paying subscribers only, whether that’s a video, audio clip, text post, image, etc.

Image Credits: Tumblr

“Not reserved only for professionals, or those with 10K followers or higher, Tumblr’s Post+ will push the boundaries of what’s considered money-making content on the internet: Shitposters, memelords, artists, fan fiction writers, all of the above and everyone in between will be able to create content while building their community of supporters, and getting paid with Post+,” a Tumblr spokesperson told TechCrunch.

For millennials who live-blogged their reading of the last Hunger Games” book on its release day in 2010, Tumblr might seem like a relic of the past. Founded in 2007, the platform has gone through plenty of change over the years. In 2013, Tumblr was acquired by Yahoo for $1.1 billion, and then Yahoo was later acquired by Verizon.

But a massive shift came for Tumblr in December 2018, when the platform banned all sexually explicit content and pornography. A month prior, the Tumblr app had been removed from the iOS App Store after child pornography passed through the app’s filtering technology, which led the platform to ban pornography entirely. Four months after the ban, Tumblr’s monthly page views had declined by 151 million, or 29%. Since then, the platform has retained a core userbase, hovering between about 310 million and 377 million page views per month, according to SimilarWeb, though the analytics still indicate a slight downward trend. Tumblr declined to provide its monthly active user numbers, but shared that the platform has over 11 million posts per day and 500 million blogs.

In 2019, the platform was sold to Automattic, the company that owns WordPress. Though Tumblr hasn’t exhibited significant growth since the fateful porn ban, under its new ownership, it’s exploring new ways to generate profit by creating features that appeal to its now younger demographic. According to Tumblr, over 48% of users are Gen Z. These Gen Z users spend 26% more time on the platform than older bloggers, and their average daily usage time is increasing over 100% from year to year.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
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Source: https://techcrunch.com/2021/07/21/tumblr-debuts-post-a-subscription-service-for-gen-z-creators/

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Ecommerce

YouTube to pilot test shopping from livestreams with select creators

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YouTube will begin pilot testing a new feature that will allow viewers to shop for products directly from livestream videos. The feature will initially launch with just a handful of creators and brands, the company says, and is an expansion of the integrated shopping experience YouTube began beta testing earlier this year.

That feature was designed only for on-demand videos, and allowed viewers to tap into the “credibility and knowledge” of trusted creators in order to make informed purchases, the company explained at the time. It said it would roll out to more creators over the course of 2021.

More recently, YouTube tested livestreamed shopping with a one-day shopping event focused on small businesses.

YouTube’s video platform, for years, has been a powerful tool for product discovery, as its over 2 billion logged-in users per month turn to the service to watch product reviews, demos, unboxings, shopping hauls, and other content that could inspire future purchases. But creators who wanted to sell from their YouTube videos would often have to promote affiliate links to online stores through the video’s description or in-video elements, like cards or end screens.

In more recent years, YouTube also introduced a merch shelf that would allow viewers to shop a set of specific products the creator selected.

The integrated shopping experience, meanwhile, allows viewers to shop the products shown in the video itself by tapping on a “view products” button, which brings up a list of the items being featured.

Image Credits: YouTube

This feature allows YouTube to better compete with the growing number of video shopping experiences becoming available from both startups and competitors, including Facebook, Instagram, TikTok Pinterest, Amazon, and Snapchat. Many of those include support for livestream videos, too.

Over the past year, for example, startups like Bambuser, Popshop Live, Talkshoplive, Whatnot, and others have raised multi-million dollar rounds to invest in their own live video shopping businesses. Meanwhile, Facebook recently launched Live Shopping Fridays to test live shopping within the beauty, fashion and skincare space. And Walmart partnered with TikTok on livestream shopping events on multiple occasions.

YouTube’s own interest in this space has been heating up, as well, as just this week the company announced it was acquiring Indian video shopping app Simsim — an indication of Google’s interest in further integrating video shopping experiences into its own platform. Google also integrated video shopping into its Shopping search business, which included one effort from Shoploop, a video shopping product that graduated from Google’s in-house incubator, Area 120.

The expansion of YouTube’s integrated video shopping experience was announced today alongside other new Google Shopping features, including the addition of new section that organizes deals and sales on Google’s Shopping tab, which will be free for merchants who want to list.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
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Source: https://techcrunch.com/2021/07/21/youtube-to-pilot-test-shopping-from-livestreams-with-select-creators/

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