capital university

How to Build a Business in 2020 | Kat Cole on Capital University

Check out the Capital University Episode Page

Key Takeaways

  • “The moment of magic between a brand and its audience is when the audience feels like you get them” Swan Sit
  • If your brand is what gets people through the door, the product quality is what will keep them coming back
    • “You can only put lipstick on a pig for so long” – Swan Sit
  • “One thing I’ve learned is to just keep speaking to that core. If they were the influencers of the first product, they’ll be the influencers of the additional products.”Kat Cole
    • Brands that grow fast often veer into weird tangents and lose their core identity that brought them success in the first place
  • “It’s the passionate few that will influence the rest of the market as opposed to trying to speak directly to everyone”Kat Cole
  • If you want your product to be one of the biggest, you will eventually have to directly compete against similar products in environments like the grocery store or the first page of Amazon search
  • “Make everything about your fans”Kat Cole
    • They are the ones ultimately buying your product. Your priority should be your customers’ happiness.

Intro

  • Kat Cole (@KatColeATL) is the President and COO of Focus Brands
  • Josh Richards (@JoshRichards) is a social media personality with tens of millions of followers
  • Swan Sit (@swansit) is the Head of Marketing for Ani Energy
  • Hosts: Anthony Pompliano (@APompliano) and Bryce Hall (@BryceHall)

What Makes a Successful Product?

  • Brand
    • “The moment of magic between a brand and its audience is when the audience feels like you get them” Swan Sit
  • Quality
    • “You can only put lipstick on a pig for so long” – Swan Sit
    • If your brand is what gets people through the door, the product quality is what will keep them coming back
  • Driven Leadership
    • You need to have a vision and then put in the work to actualize it
    • “We think this can be the next Red Bull if not bigger” – Bryce Hall

Appeal of Selling Energy Drinks

  • “We don’t want to sell our souls to Bang Energy like other influencers” – Bryce Hall
    • To Josh and Bryce, it’s about having equity rather than simply being another sponsor
  • “We’re very high energy in our YouTube videos, very fast-paced. Everything’s so action-packed, just crazy all around, so if energy drinks were a person it would be us. It’s definitely the perfect route we could have went with.” – Bryce Hall

Aligning Product and Brand

  • The original name was “Animal Energy” but the team figured it would be better to tone down the aggressiveness of the brand to appeal to a wider audience
    • This reflects the reduced levels of caffeine in the product compared to the hundreds of milligrams of caffeine in other energy drinks
  • The majority of Bryce and Josh’s viewers are female so the design of the can appeals to females with its vibrant colors
    • Based on adoption patterns of other drinks like White Claw, they expect more women to initially pick up Ani then transition to the male demographic
  • “One thing I’ve learned is to just keep speaking to that core. If they were the influencers of the first product, they’ll be the influencers of the additional products.”Kat Cole
    • Brands that grow fast often veer into weird tangents and lose their core identity that brought them success in the first place
  • “It’s the passionate few that will influence the rest of the market as opposed to trying to speak directly to everyone”Kat Cole

Becoming a Public Name

  • If you want your product to be one of the biggest, you will eventually have to directly compete against similar products in environments like the grocery store or the first page of Amazon search
  • The more you understand your audience/market, the more mass-market retailers will bend their rules to sell your product
    • The fact that retailers don’t know these consumers means that these consumers are people they don’t sell much to
  • “You want other people working to promote Ani. That’s layers and layers of promotion and that comes from it being in different points of retail distribution.” – Kat Cole
  • Showing images of fans and data on orders processed will convince retailers to sell your product more than media following
    • Media can lie, numbers less so
  • “Make everything about your fans”Kat Cole
    • They are the ones ultimately buying your product. Your priority should be your customers’ happiness.
Capital University : , , , , ,
Notes By TD

More Notes on these topics

Top Insights and Tactics From

31 Best Podcasts of All Time

FREE when you join over 12,000 subscribers to the
Podcast Notes newsletter

No Thanks