Jeremy Horowitz'’s Post

Story time: My 1st failed Influencer attempt. Turns out whiskey is a TERRIBLE content category… It’s why we failed miserably. What happened: Back in 2015, my high school best friend & I started an Instagram page called The Whiskey Brothers. And it's exactly what you're thinking. We wanted to create a meme page for whiskey. We really wanted to fund our whiskexperiences with sponsors. + Get free bottles and free tastings out of it. We went all in: - Daily posting schedules. - Sourced related content.  - We found new bars + whiskey for content. The playbook was simple: 1) Try a whiskey 2) Take a picture of the bottle 3) Leave a review 4) Post it to the ‘Gram. We were playing the hashtag game, follow-for-follow game, creating interesting content, Testing, testing, testing… To figure out what would drive engagement. It didn’t work. Whiskey is incredibly expensive + a small market. We weren't doing remotely well enough to afford luxury whiskey regularly. We shut it down when we ran out of money + whiskey burnout. But it was such a great experience in: -> How to build content -> What it really takes to build an audience -> The economics of content to become successful It takes months -> years to build a meaningful audience/community. And the other piece was, well, we just did it for fun. It was a hobby, and we really enjoy whiskey. We didn't want to make it our lives + drink all the time. You have to create content on something durable + that you’ll enjoy doing for years. Vs. something fun for the weekend. #shopify

2024 is the year of the cash rich. Don’t raise money or get investors. Grow faster by leveraging others’ balance sheets. Get better terms. To keep $$$ in your bank account longer. eCom comes down to 2 major expenses: Ads + Inventory. Negotiate longer payment terms for both. Why? You become cash rich. How? For inventory - “Jam your suppliers.” - On Net 15? Negotiate Net 30. - On Net 30? Push for Net 60. Even if you have to give up a couple Gross Margin points. The breathing room is worth it. Negotiating terms with Meta/Google is a lot harder. Use Parker for 45 day terms. 3 ways brands like Caraway Home, Amour Vert, and Spikeball Inc. are more cash rich with Parker: 1) Buy yourself 45 days to sell more products 2) Turn $1 in ad budget into $3. 3) Pay down the ads as cash comes into the biz. Yes, you'll lose points & cashback on your current card… But would you rather: 1) Points for some free biz class seats? 2) Or a bigger biz with more cash so you buy the ticket yourself? My goal is 2. $5m brands can get interest-free 60-day terms when they sign up here https://lnkd.in/euF68k_W Don’t take an MCA when you really need a better float. Comment “45 days” on this post (or DM me). I’ll connect you directly with their team. #shopify #parkerpartner

Great leaders care about what’s right. Steal this leadership wisdom from Simon Sinek

All right, Justin. I see your talking head video. And raise you a Talking Head + Screenshots video. Here are the 3 reasons you’re wrong. (+ a bonus) And why were’ nowhere near peak eCom. 1) Every demo rebels. The Tide still rolls. -> Millennials age. Their behavior eats larger purchases. ->Gen Z might be rebelling. -> Gen A will counter Gen Z. 2) Buying categories (love those) + data -> The Stuff you don’t talk about: I 100% concede. Saturated. -> The stuff you have to talk about: Trends are not in your favor. U.S./EU used car sales 9% online. Est. to double by 2025. -> The Stuff you don’t talk about: eGrocery is booming. eGrocery in 2024: Est. $353b.  By 2028: est. $543B. 3) FRED data: Relative vs. Absolute ->eCom growth is shrinking on a % basis. Not $. + 4) Bonus My big bet: eCom + retail converge. Shopify will be the purchase anywhere platform. We’ll stop caring about eCom vs. Retail. Because brands care about Sales. In every channel. TLDR; eCom Rev will continue to grow. So will Shopify. And we’ll all make more money. #shopify

5 words of advice for every Shopify App: Run a TAM analysis today.  The top tier apps that don't understand their market dynamics is scary. Quick English: TAM = Total Addressable Market AKA How many customers can buy my thing. When you don’t run a TAM analysis you either are: 1) Steering a cruise ship into a stream 2) Rowing a canoe in the middle of the ocean Neither are good. Not swimming in the largest ocean is the killer of hypergrowth. Even if there’s a good fit + good play in a small niche. It doesn't matter. Size is all that matters. Here’s the 3-Step framework to grow faster: 1) Take the largest opportunity possible,  2) Stand out in that larger audience,  3) GO. Don't waste your time on small fries. Whale hunting in the largest oceans will unlock your fastest growth. Even if all you do is catch tuna & shrimp along the way. From there, take the resources. Segment down. These segments will be larger markets than your original niche. But stop wasting your time. Don’t cut small pieces from small pies. Take that massive market. Figure out the best way to get yourself into that chat + get going. All of the data is available to you. You just have to use it. #ecomsaas

The Waymo + Uber Eats partnership = end of Uber. Google (1.9T) will buy Uber ($144B) within 5 years. Acquisition is the only logical end of this partnership. - Food delivery is grossly unprofitable. - Waymo selling $200k consumer cars is never going to happen. - Google needs more ad inventory + unique data Google has made it clear they’re getting into self-driving cars. Uber gave up on doing it themselves. The marriage here is obvious. Google merges Waymo + Uber to create a full-stack SMB B2B offering. Let’s use Restaurants as an example. They… - Advertise across Google ad ecosystem (+ Uber app) - Drive orders through Uber Eats App - Deliver order w/ Wubermo car Google gets a high-volume B2B biz to amortize a $200k car. Uber eliminates the most expensive line item. Drivers. Uber doesn’t have much of an option at this point. They aren't an actual profitable sustainable biz. They’ve conceded self-driving their only path to real profits. Either Google buys them or replaces them. I’m betting on acquisition. Then expanding into other categories (delivery/shipment). Finally realizing Uber’s vision + providing Google a new B2B ad market. #ecommerce

Posting from your corporate LinkedIn account is an absolute waste of time. It will do nothing for your B2B Pipeline. It's mostly for your investors + team. It kinda helps hiring. But if you’re trying to drive pipeline… It needs to come from a real person’s profile (preferably C-Suite). People listen to people. Not a biz posting about webinars and new features. The effort to impact is 10-1. I haven’t supported a Corp B2B account in 4 years. But I’ve generated 7-figs in Social pipeline. #saas

I read Klaviyo’s 2024 Benchmarking report so you don’t have to. Here are the 5 key insights: 1) Top 10% of Klaviyo brands Email RPR >>> SMS  2) SMS CTR is 10x Email 3) Automated Order Rate is 18x Campaigns 4) Email consistent QoQ. SMS has a Q4 bump. 5) Klaviyo is still slinging Automated Flows. 1) The best brands have a higher Email RPR For the avg. Klaviyo brand, SMS RPR >>> Email (+9%). For the Top 10% account, Email RPR is +23% than SMS. SMS is sexy. Optimized Email is still king. 2) SMS CTR is 10x Email. The Avg. SMS Click Rate is 11.9% vs. Email’s 1.5%. Because you’re sending way more emails. 1/10th the SMS list = the same traffic performance. 3) Flows' Order Rate is 18x Campaigns This is hopefully obvious. The big insight… There are only 3 flows that really matter. A) Abandoned Cart B) Welcome C) Browse Abandonment Optimizing these 3 flows is your 80/20. 4) Email is consistent. SMS has a Q4 bump. Email efficiency is steady throughout the year. SMS sees a considerable Q4 Bump. Klaviyo says it’s because SMS stands out. More likely, SMS = guaranteed open in a discount-driven channel. 5) Klaviyo is still pushing Automated Flows. ALOT Even at 130k+ customers, Klaviyo is still beating the Automate Drum. - It’s the 1st major takeaway of the whole report. - Most intra-report comparisons are to flows. - It’s THE featured product of the report. Is that because Flows are what made them famous? Or because people still haven’t deployed these Flows? Somehow there’s still 10-20% of Shop stores that haven’t rolled out automated email flows. (Cough cough Intuit Mailchimp customers). + a Bonus insight: The money makers (RPR): 1) Abandoned Cart: $3.65 2) Welcome Flow: $2.65 3) Browse Abandonment: $1.07 4) Post Purchase: $0.41 This should be no surprise and make priorities easy. Don’t worry about launching with 18 flows. There are 3 that matter. What is your greatest insight from the report? #shopify

The race is on. Submitting LOI 1 this week. We’re moving forward with our first offer. Can’t mention specifics yet, but will walk through it once I can. Let's see how it goes! On the Buying a Biz:  * 2 deals reviewed * 1 Call (1 Deal) * 3 calls moved to the following weeks. Deal Review: *1 call with the seller * 1 Data room to review On the Media Side: * 8 LinkedIn posts hit 110k Views * The State of 2023 Earnings report really popped. * 3.2k subs dove into my analysis of Klaviyo Goal for the week: Submit LOI 1. Move on LOI 2. We aren’t looking to do many deals this year. But when we do we’re looking to knock them out of the park. Appreciate everyone who reached out last week about the media Sales role. Working through talking with everyone now. #shopify

Let’s dive into the most disrupted Plus app category: Analytics/Data This space has been in chaos. So we’ll break it down into parts. Core infrastructure crumbling: - Google sunsetted Google Optimize - Hotjar had -4% YoY net install growth - Microsoft Clarity came screaming outta nowhere with 3.8k Plus Installs Data Feeds are all the rage - Elevar grew 42% and broke into the Top 25. - Google Shopping Feed saw 45% YoY growth. - Triple Whale 🐳 +18% to break into the 31 spot. - Retention.com broke into the Top 100. The GO challengers: - VWO +71% YoY - Intelligems cracked 1.5% market share Who knows how fast this space will continue to grow? - Microsoft has a legitimate shot at being the # 2 player in 2 years. - Ad + Email enrichments are becoming all the rage. With Meta crumbling and Google being displaced by AI. How we track performance on Shopify sites is about to change. For good. #shopify