In this episode, we give you part -1 of our Top Takeaways Year End Recap featuring interviews from the second half of the season with Brad Weimert of Easy Pay Direct, Joseph Wilkins of Funnysalesvideos.com, Chris Martinez Founder of Dude agency, and Taylor McMaster Founder and CEO of Dot and Company.
Brad Weimert - The Definition of a High Risk Merchant 0:49
Joseph Wilkins - The Ugly Truth about viral videos 3:33
Chris Martinez - Solidifying Company Culture 6:59
Taylor McMaster - The Perfect Onboarding Experience 9:27
you hit on something, you know, you talked a little bit about the high risk merchant. Is that really defined? Brad? Is it as easy as saying just taking cards over the internet? Like if you're in that bucket? Is that automatically high risk? I know when I've got gone to get merchant accounts, I'm always classified as high risk even when I am able to show a good history and low refund rates, low chargeback rates,
etc. Yeah, that's a huge question. But the answer is that, and I'll explain what risk is because people generally don't know what like what you mean, when you say risk, like why are you high risk. But it's a spectrum. And as soon as the card isn't present, the likelihood of fraud goes through the roof. So if somebody wants to steal a credit card and use it, are they going to walk into a store to buy things? No, probably not. They're probably doing it online, right or over the phone. So immediately, fraud goes up. But beyond that, they look at our industry looks at the statistical likelihood of dispute of a consumer disputing a charge. Now, if we back out for two seconds, or 34. The risk in general is that as consumers, one of the cool things about using credit cards is if there's ever a problem, you can just dispute it. Right? You always have that recourse. Now here's the risk. The business owner, the first thing that happens when a dispute happens is the money gets pulled out of the business owners account. And then they get to fight to get it back. If the business isn't there anymore, the credit card processing company has to pay for it. So the big risk for a credit card processing company is a business goes under and once they go under consumers still have six months to dispute a charge. So for that six months, any disputes that come in the credit card processing company has to pay. So all of it revolves around the likelihood of a specific business or an industry having that problem.
Wow. Yeah, I didn't think about a business closing and that trailing six months I've never thought about that. From a risk standpoint. I only really thought about while the business was in business accepting credit cards.
Yeah, well think about it this way. How often do businesses go under? Yeah, like all the all of them, I mean, how long like every business at some point ends its lifecycle, right? The vast vast vast majority So at a minimum the credit card processor is exposed during that frame and that's where like risk is a spectrum because on the on the front end you're just looking at that right? But as you go through it then it's like okay, well what kinds of industries have a higher likelihood of going under or just having consumers dispute in general or the combination or prod in general right?
I love like the the funny sales videos right? I just plugged your brand right but great name I love like what the Harmon brothers do I love like the PooPourri with the beard company like that just some great videos and I think you're right that you got to meet the viewer where they're at right you made that point and it's so important like you got to understand the mindset and you got to give them what they want so if they're coming for for funny and for entertainment we're hitting up with you know buyer razors their buy one get one or buy our you know room spray. I mean it's just it's so flat. Why would you ever buy from a company like that so love the transition love the story? I'd love if you could share with us like what you think are some of the key things to making these videos like really blow up after running I'm sure gonna be hundreds of campaigns I'm sure you've identified what what are some of the things or what are some of the key things you got to make sure you nail or they just don't really fly off the shelves?
Well, maybe now would be a good time to pull back the curtain and reveal the ugly secret to what we do and other agencies like the Harmon brothers and other similar agencies have publicly stated. These videos are not organic views. Right so so if they weren't fueled by paid ads, yeah, there there are No videos out there that had 10s of millions of views that organically went viral other than, you know, silly cat videos and celebrity videos. But that's a completely different topic. We're talking about sales videos, YouTube, and Instagram and Facebook, they are sophisticated enough to be able to detect if you're a brand. And if you're trying to make money, they're going to treat that video completely different, you will never go organically viral. So what what you're really trying to do. And what we do is we are creating videos that will replace what our clients are currently running on Google Facebook ad, you know, whatever the platform is, with a goal of doubling their return on their ad spend that they're currently getting. So don't think about funny sales videos as organically viral videos that you only have to produce it, and you'll get the views. Yeah, think about it kind of like a vending machine that's full of $100 bills, the cost $20 To use it, how many times you're going to want to use that machine. Yeah, that that's essentially what we're doing. We consistently and if you go to a website, you'll see case study of the case study when people double their sales, tripled, their sales, quadrupled, doing nothing differently, but replacing the creative. But you've got to have a sales funnel on the back end, and a budget to fuel these ads. Now you will get some organic views. You know, I'd say maybe maybe five to 10% of all views are from shares and light. Yes. And you know, Ganic reach, but it's not the lion's share. Yeah, however, five to 10% of a campaign that's about to hit mill 100 million views. That's, that's still 10 million free views Who wouldn't like that? So anyway, as long as we establish that we're talking about a business here, yeah, money in money? No,
I think that this is a good exercise that everybody listening should do with their own team. You know, because I believe that most of us started our agencies, not because we wanted to start an agency, there's something else that we're looking to fuel, whether that be a philanthropic cause, a lifestyle, cause a mission that you want for your clients, whatever that is, there's usually something else that's motivating the agency, the key as the owner, is to make sure that everybody understands and is following the same mission. So I talked about this yesterday, actually, I said, do a survey of all of your staff, and say, and say, I want you to write down what you think the mission of our company is, have everybody write it down, put it it's not complete, completely anonymous, put it into a bin, and then you the owner, sit down and go through all the different responses, you will be amazed as to what people think the company mission is. And that is your starting point. If you want to solidify your company culture, and get your team moving faster and more effectively than ever, the first thing that you have to do is align the mission. Imagine for like, from a military standpoint, I've never been in the military. So I hope I don't disrespect anybody in the military. But imagine if you the troops land on the ground, and then nobody knows what they're doing. And everybody starts running in the opposite, like a different direction, you're probably not going to accomplish the mission. Everybody has to be in alignment, they have to know what we're looking to get out of this. And that's the same with your own team members in your company. There's a bigger picture, everybody has to understand the mission. And one of my other favorite stories is John F. Kennedy was touring NASA, you might have heard the story. And it was the in the early days of NASA and obviously, like the United States was in a battle with the Soviet to try and get a man into space, and then to get a man on the moon, and so on and so forth. And so JFK is touring the facility. And he walks up to a janitor, and he says, Hi, nice to meet you. My name is John, what do you do here and the janitor says, I'm helping to put a man on the moon. And the significance of that story is that even the person sweeping the floors believes that they are helping the mission. That's when you know that you have everybody in alignment. And I think that that's something that everybody should strive for in their agency.
I know Taylor that you talk a lot about onboarding and how like it's the start of every client agency relationship. And by your standards, I know it's a really important part of what you guys do in an agency's role of bringing somebody on board correctly them sticking around for a long term and you know, not turning out the the other side with with all of your experience and your standards like what do you think a good or the perfect onboarding experience really looks like?
Yeah, I think the biggest thing to always think about when you're onboarding a client is that you're, you're working with humans. And it's hard in our virtual world to remember that. But when you think about onboarding a new client, you want that experience to be the best ever, from day one, when that salesperson transitions it over to your client account manager, you want them to be warm and bubbly, and quick and proactive. And, like a system, right? Everything comes down to systems. So if you're being quick to communicate, you're proactive, you're keeping your clients excited. And you want to make this new client feel like they're the only client, right? So you you're speaking if the client speaking to the salesperson, and they're like, Okay, let's do it. And you're like, okay, great, like, I'm gonna pass you over to Taylor, she's your client, account manager, she's gonna onboard you. And then I come in, I'm like, Hey, Joe, I'm so excited to have you on board. Like, let's do this, let's, you know, get you on board, here's what I need from you. And just like keeping them excited, and making them feel like you have dropped everything in your day just to keep give them that experience. And I think that's the most important thing. And we, you know, in the agency, world, systematize everything. So sometimes it can just feel like a checklist that you're going through, like, Okay, now you need to pay now you need to give me this night. Now you need to do this. But like, if you think about these are humans and you want to keep them excited. That is kind of the most important thing.
I gotta agree. I think that you can tell like when somebody bad is running a meeting, and it's just boring, and you don't want to be there, like how is your client supposed to run in their shoes. And a good friend of mine, Josh Nelson has a really successful agency and runs an agency mastermind as well. And he says like the number one reason that client stopped working with agencies is indifference. And I gotta say that, like just the bubbly personality in the client, thinking that you're doing everything in your power to knock it out of the park for them is such a big part of that, right that Taylor's always got my best interests at heart. She's always putting in the work for me. She's always over delivering. She's always happy, you know, that goes such a long way I believe. And in that indifference kind of feeling in the client.