The Truth Serum Of Why: What Leads Brands To Fail, And The Byproducts Of Success
In this episode of The Longer Game, we dive deep into the philosophical playground of the ecommerce industry. We had the pleasure of sitting down with Ali Babul, the Chief Revenue Officer of Trellis, a tech company dedicated to creating smarter solutions for ecommerce. Ali, with his extensive experience from agency life to the tech side, offers profound insights into the needs of consumers, brands, and businesses alike. Get ready to dig into the meaning and purpose behind the small blip of your existence on this earth. Yes, it's deep.
The Power of Why
Every successful brand or business starts with one fundamental question: Why? Without a clear understanding of your "Why," everything else falls apart. Simon Sinek, in his famous TED Talk, emphasizes that people don't buy what you do; they buy why you do it. Ali reiterates this point, emphasizing that a brand's "Why" is the foundation upon which all strategies, decisions, and actions are built.
When brands fail to identify and communicate their core purpose, they struggle to connect with their audience on a deeper level. The "Why" is not just a mission statement; it's the driving force that fuels passion, innovation, and loyalty. It's what makes consumers choose your brand over countless others.
Beyond the Bottom Line: Developing People
In the hustle for profits, it's easy to lose sight of the bigger picture. Michael and Ali highlight a crucial point: if the end goal is solely money, you miss the real purpose of business—developing people. Businesses are not just profit-generating machines; they are ecosystems that impact employees, customers, and communities.
Investing in people leads to long-term success. When employees feel valued and are given opportunities to grow, they become more engaged and productive. Similarly, when customers feel understood and appreciated, they develop loyalty and trust in your brand. It's a symbiotic relationship where everyone thrives.
Navigating Slim Margins
In today's competitive market, margins are slimmer than ever. Brands must meticulously factor in all costs to appropriately price their products. Understanding your costs is not just about the obvious expenses like production and shipping. It involves a comprehensive analysis of every aspect of your business, from marketing and customer service to research and development.
Proper pricing is crucial. Underpricing can lead to financial strain, while overpricing can drive customers away. Brands need to find that sweet spot where they offer value to customers while maintaining healthy profit margins. It's a delicate balance that requires constant monitoring and adjustment.
The Rise of Community Commerce
Community commerce is a growing trend with a lasting impact. This model goes beyond traditional ecommerce by fostering a sense of community and belonging among customers. It's about creating a space where people can connect, share experiences, and support each other.
Michael and Ali discuss how brands can leverage community commerce to build stronger relationships with their customers. By creating platforms for interaction and engagement, brands can turn customers into advocates who actively promote their products and services. This organic growth is more sustainable and impactful than traditional advertising methods.
Digging Deeper
The conversation with Ali Babul is not just about business strategies; it's about understanding the deeper meaning and purpose behind our actions. In a world where we are constantly chasing targets and deadlines, it's essential to pause and reflect on why we do what we do.
Ali's journey from agency life to the tech industry has given him a unique perspective on the importance of purpose and people in business. His insights challenge us to think beyond profits and focus on creating value for everyone involved.
Follow us
Join Michael Maher, Chief Idea Officer of Cartology and Ali Babul, Chief Revenue Officer of Trellis, on this enlightening episode of The Longer Game. Follow our page to stay updated with more insightful conversations and to watch the full season 2 episode 7 click here. Let's embark on this journey of discovering the true essence of business together.
