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Every few years, there are shifts in attention and culture that impact the behavior of all of us, including the trends we follow, the social media platforms we use, and the products we purchase. Today’s blog is about two changes he’s made that I’ve been observing for a long time: Personal Brand Consumer Packaged Goods (PBCPG) and live streaming.
The reason I am writing this article is based on what I understood from 2010 to 2015. By that time, social media was already known and established, but still vastly undervalued. Ask just about everyone who was around when YouTube first started. I’m sure they’ll admit that YouTube today is much bigger than they ever imagined. What people didn’t understand about social media was that it would become a major source of culture, information, and movement in the universe. That’s how I feel about these two genres right now. I think both live streaming and personal brand CPG are in the same position as social media was at the time.
When it comes to today’s largest consumer packaged goods companies, such as Procter & Gambles, Kellogg’s, PepsiCos, and Coca-Cola, they represent most of the big brands people will buy and consume within 15 years. I don’t think you understand that. Years are determined based on a person’s personality. They learned that the No. 3 cereal everyone eats is based on a person, and that the No. 7 bottled water is not Jennifer Aniston’s smart water, meaning it’s owned by the U.S. government. I don’t understand that it will be bottled water that started. “Jennifer Aniston” for the next decade.
Personal brands are huge and only getting bigger. I was early on with Empathy Wines, which I co-founded with John. Troutman and Nate Shelotter (and was acquired by Constellation Brands in July 2020). It was my challenge to savor what I know to be true. Obviously, with Emma Chamberlain’s Chamberlain Coffee, Charli D’Amelio’s Be Happy Snack Popcorn, Mr. Beast’s Feastable Chocolate, and Logan Paul and KSI’s Prime, the cat is already out of the bag. No…like. I am writing this blog to completely let it out of the bag.
With that said, let me explain the two things I’m looking at in 2024: PBCPG and live streaming.
Why private label consumer packaged goods?
What makes consumer products better than other product types? – Well, it’s because they offer great value. Those are the things people buy. For example, if you create the largest new peanut butter, the third largest deodorant, or the 11th largest raisin, chocolate bar, pumpkin seed, or candle brand, you make a lot of money. Earn. A lot of people with a lot of followers and platforms tend to buy other types of products first, like merchandise, but think about it this way. People buy far more toothpaste than they buy T-shirts. They buy far more deodorant than they buy beanies.
(That being said, everyone will probably want to buy a new one) VeeFriends x Menswear Dog Collection It’s a super limited edition so no one can get it. 😉)
Why live streaming?
The concept of live streaming is not new. Back in 2007, UStream was as big to me as YouTube or Twitter, and here we are 17 years later. There’s a reason I’m live streaming on his Twitch as I write this blog. There’s a reason I want the 400 people watching me right now to do it themselves.
As many of you may have noticed, I broadcast live on mute almost every day. That’s because confidential information about business partners and meetings needs to be protected. But if I hadn’t been muted, he would have had 14,000 people watching instead of 400. Most of you reading this right now don’t need to mute like I do. Join us on Twitch to live stream your day and the process of creating your art or products, chat with us to take questions and share your expertise, or talk about your niche interests. You can also. You can do anything. The other day, I sent all of my followers who were watching my Twitch stream to another woman’s stream and attacked her. She was just making pizza and suddenly 1,400 viewers started following her. We hope that you too can find interesting opportunities here.
Do you think the same is possible for you? yes. If a landscaper who has a great business today and makes $100,000 a year starts live-streaming his landscaping days tomorrow, do you think he would actually make $1 million a year? Yes. , I will.
Live streaming can be anything, as people watch it for a variety of reasons, including ASMR, background chatter, curiosity, or just a peek at what they feel comfortable with. Live streaming is a great arbitrage for anyone who is serious about expanding their exposure and community. They market and sell great consumer products.
How to turn viewers into customers
If you’re an influencer or creator looking to launch a product and want to leverage your existing audience into a potential customer base, the first step is easy. The idea is to provide as much free value as possible.
Don’t even think about selling anything to your audience until you provide value to them, learn what you want to create, get good at it, do a few limited edition drops, and learn. Everyone will be trying to sell to their audience right away. The only reason I felt comfortable selling Empathy Wine was because I knew it was a great wine for $20. So before you sell something to someone, you have to believe in it.
I think a lot of people in the health and wellness space, for example, are in a very good position because they believe in the quality of what they’re selling. They know there are even worse versions of it on the market, so they can buy from an informed place when it goes on sale. I think about it a lot. For anyone reading this working on a product launch, first and foremost, start by making sure you believe in what you’re selling.
When is the right time to launch your first product?
I don’t really know, but I can say the checklist is:
1. Do you think you brought a lot of value to your audience before selling to them?
…and I’m talking in years, not days.
2. Do you believe in your product?
For example, if you’re in the health and wellness industry, someone might use your deodorant because they know your deodorant product is cleaner and safer because chemicals can seep into the blood. Do you deeply believe that it makes sense to buy cheap deodorant for $9? Or maybe they forget about health and wellness…and sell candy, but maybe it’s just escapism. Do you think your lemonheads taste better than the popular lemonheads on the market?
3. Can you stay in business for the long term?
Many people start their businesses too early and don’t have the time to do so, and if things don’t work out right away, they go out of business. If you don’t sell anything for a year, will your business really continue? Make sure it’s sustainable so you can build patiently rather than frantically.
How long is the ideal time for live streaming?
For me, if you can go live for three hours a day, do it. Because most people need to practice to get better at live shows. It’s different than posting on social, so frankly I recommend going live as much as possible to get into a rhythm and practice well.
That being said, I’m starting to fall in love with the idea of quality to quantity ratios, rather than just general numbers, whether it’s live streaming or posting in general. Obviously, I’ve always been about quantity. That’s because I don’t think most people understand the importance of actually reaching out to people in charge when it comes to social media. But a new framework that I’m really passionate about is Quality > Quantity.
The reason I was posting four times a day four years ago was because there was enough filming and a lot of the team’s energy was going towards it. I was able to put out four pieces of good content in one day. Now, we’re starting to think about scaling back, especially with YouTube and podcasts. We’re starting to think about podcasts once a week and YouTube once a week. And now we want to take all that energy and do things like Snapchat and Pinterest properly.
Ultimately it’s your choice, but there is a new framework of quality-to-quantity ratios based on talent, effort, and resources. Find what works for you.
Should you live stream on a regular schedule or at different times?
In general, I think consumers like to schedule programming on a regular basis, but some people, like me, are busy and it’s going to be random. Ideally, yes, I think regular programming would work. But if you’re a busy person, you’re a dentist, you’re in the office once a week at different times, and that’s the only place you can stream, then don’t do it. t do not have Stream just because you’re not scheduled to appear on a regularly scheduled show. Just be consistent.
It’s kind of like a workout. I work out every day. Sometimes it’s 7 o’clock at night, sometimes it’s 7 o’clock in the morning. The most important thing is that you’re doing it.
What is the best platform for live streaming?
At this point, TikTok Live is a monster, and I think TikTok Shop will be a monster as well. So I would definitely start there.
To learn more about why I’m obsessed with TikTok Live, check out the video below.
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