Right About Now with Ryan Alford - Weekly Marketing and Advertising News: Facebook To Pay Creators $1 Billion; Jeff Bezos Spaceflight; Marketing budgets plummeted to 6.4%

Episode Date: July 16, 2021

Welcome to this week's episode of The Radcast! In this week's news episode, host Ryan Alford and co-host Josh Hill discuss Shark Week, British Open/NBA Finals - Bucks/Suns, HypeBeast top brands, The Best of Tik Tok, and more... These are the following topics we hit in today's episode:Facebook Commits $1 Billion To Pay Creators - Per HypeBeastJeff Bezos Cleared To Fly Aboard Blue Origin’s First-Ever Commercial SpaceflightMarketing budgets slip in relation to revenue, shrinking to 6.4%, Gartner findsIf you enjoyed this episode of The Radcast, leave us a review on Apple Podcasts. Subscribe and share the word if you love our podcast, so we can keep giving you the strategies to achieve radical marketing results! You can follow us on Instagram @the.rad.cast | @radical_results | @ryanalford | If you enjoyed this episode and want to learn more, join Ryan’s newsletter https://ryanalford.com/newsletter/ to get Ferrari level advice daily for FREE.  Learn how to build a 7 figure business from your personal brand by signing up for a FREE introduction to personal branding https://ryanalford.com/personalbranding.  Learn more by visiting our website at www.ryanisright.comSubscribe to our YouTube channel  www.youtube.com/@RightAboutNowwithRyanAlford. 

I'm going to give a little props to the female energy drink of the year that I actually like. It's called Alani Nu, which is Alani Nutrition. Maybe you need a male influencer. I don't know. They're more sweet, and obviously it's a feminine product because it's not monster or bang. You know, give me energy in the morning and pleasure at night. I don't know. Who doesn't have a good meltdown sometimes?

When the entire world is watching you 24-7, I would have one way sooner than she did. It's almost as if it works. I think it's working when we spend more money on the right channels and we choose the right partners. Holy cow, this is marketing. Strategy question mark. Yes. You're listening to the Radcast. If it's radical, we cover it. Here's your host, Ryan Alford. Hey, guys. What's up? Welcome to the latest edition of the Radcast. It's Friday, July 16th. It's our marketing and advertising news and everything cool that's happening in the world. I'm Ryan Offord.

And I'm Josh Hill. And we're happy to be with you here, whether physically, whether if you're watching our video, it feels physical a little bit. But if you're listening, wherever you are, wherever you are, whenever you are in 2027 we wish you a happy whatever day it is yeah you never know what day it is never know that always blows my mind when i start talking about that i don't know why i might be the only one that like thinks about like how far in the future could someone be listening to this clayton if you're listening to this and you're now you know in harvard or wherever you're gonna go to school i told you so i want to say happy uh happy wednesday to everyone listening on wednesdays

i'm gonna give a specific shout out for those people yes happy wednesday to you so uh josh what's happening here in the middle of july where has the world gone in the month of july i don't know oh man everywhere you uh you had a good week yeah it's been great it's been a fantastic shark Where has the world gone in the month of July? I don't know. Oh, man. Everywhere. You had a good week? Yeah, it's been great. It's been a fantastic Shark Week. Yes! Shark Week!

Swimming away from any shark I can see. Oh, my God. It is Shark Week. Again, we don't know where you are, whenever you are, but it is Shark Week for us this week and been watching this. They have a bit on the Discovery Channel discovery channel obviously i think is where it originated i believe and sharknado the cheesiest uh movie of all time but that and uh like the national geographic like it's like back and forth there's like two channels that are all sharks all the time and it's scaring the shit out of me like there was an eight foot great white wide, eight foot wide, 20 feet long.

And they're just, hey, we're here. We have a great white. And, you know, I believe he's about eight feet wide and 20 feet. I'm like, that's a fucking bus. No, thanks. He could eat both of us and not even probably realize he did it. Right. We just be an appetizer.

Oh, yeah. Like some sardines human sardines make me some fish food but yeah like i i don't know i'm going to mexico in a week yes hallelujah hallelujah yes amen thank you for that um but and i don't know if i'm gonna get in the ocean i gotta like calm down from my shark shark week uh fears it's like hmm what's lurking below i'm in two feet of water going oh could that eight foot i'm doing the math is there any way he can beach it right here and like eat my leg your google history searches are like can sharks fly they can fly that's the thing they're showing them they're near these like sea lions or whatever

they go to the right we're going right here where they like to feast on the sea lions and they fly out of the water they're like flying great whites man maybe you need to move a little bit further in i think so i think uh can they can they crawl down can they watch are they are they truly land sharks now they look like 70 years old did you know that they live that long that's too long 70 years they live as long as we do like they got scars and all this stuff i'm like i don't know yeah send their kids off the coast or empty nesters there yeah i'm like i'm doing the research of like which sharks like to bite yeah it's like i know great whites will crush you but like they had this thing like a Mako shark.

Mako sharks were kind of, you know, they're a little ugly, but they wouldn't mess with you. Like, no, no. They attack several people. Yeah. So Shark Week is definitely on at the Allford residence. Get your land sharks. Get your. I love the Narragansett featured in Jaws.

That's the best Shark Week way to go. Yes. I am going to venture into one thing. We don't do ads. We don't sell ads on this. We could sell ads. We don't sell ads. But I'm going to give a little props to the female energy drink of the year that I actually like.

It's called Alani New, which is Alani Nutrition. I'm drinking a Breezeberry right now. So this is free promotion for you, Alani. Maybe you need a male influencer. I don't know. But because it's all women on your profile. I looked at their Instagram. It's all women all day. All shiny, happy. so this is free promotion for you alani maybe you need a male influencer i don't know but because it's all women on your profile i looked at their instagram it's all women all day all shiny happy yeah attractive influencer women i dare say right but uh it's quite tasty josh yeah if you can

the marketing is telling me if i if i start drinking that i can pose on a beach and smile really happily they're they're more sweet and. And obviously it's a feminine product because it's not monster or bang, bang. You know, the masculine topics. But it's very sweet. Some people probably find it too sweet, but it strikes me as potentially being good with some vodka. That's what I like to hear. That's where my brain went.

I'm like, yeah, you know, give me energy in the morning and pleasure at night i don't know nor buzz you know alani new call us here at the radcast it's like a day mullet we're in business in the morning party at night yeah i think they took over the uh watching the video version, you'll see the can shape of what is it? Red Bull? The original energy drink. It gives you wings and it tastes good.

This is still Alani. Anyway, if you're out there Alani New people, we're going to tag you in this highlight clip. Here, Alani New. It's the energy drink for me. Maybe I'm just tired of everything else. It's a little sweeter. Anyway. A lot of sports this week. Definitely hitting Google Trends and everything.

We're going to get to a couple of those topics. The British Open is going on. Jordan Spieth had a great first round. When we're recording this, we haven't kicked off the second round just yet. And Louis Oosthuizen, who almost won the U.S. Open, is in first, I believe, or in the leaderboard there.

So lots going on there. Beautiful quarters. I was watching some of the highlights. And then the big sports week, you got the British Open going on. Or, excuse me, the Open. I don't think they call it the British Open anymore. It's just the Open Championship. They start changing things.

I don't know if that was political driven or, you know, it's not just the British. Is that one of those like, oh, do Canadians call it Canadian bacon? Yeah, exactly. Just bacon here. Yeah. The Open. The Open Championship. And then the NBA Finals.

The Bucks and the Suns are tied at two games apiece. I must admit, I'm not watching much of any of it. I do enjoy the highlights. I'll probably watch like game six or seven. I grew up playing basketball, but I've kind of just don't really watch much NBA anymore. And, you know, the Bucks and the Suns aren't exactly, I don't know, mainstream teams for me. I don't know. I hate to say it, but if it was like LA and New York, I might watch it more. I don't know, mainstream teams for me. I don't know. I hate to say it, but if it was like LA and New York, I might watch it more. I don't know. I hate to be that guy.

But, you know, no LeBron, who's, I'm not necessarily even a LeBron fan, but seems to make it more interesting. And they got a lot of good players, but two games to two, looks like it's a good series. I'll probably start watching here, game five, six, seven. Looks like it's now it's time to watch. Now it means something, you know.

Right. The seven game series is kind of like, OK, I'll catch up like game five, you know. Oh, yeah. And all the Marvels start coming together. So lots in sports. That's hitting all the Google trends. I was looking at it this morning. Josh showed it was like seven of the 10 topics were something related to the open championship or the NBA

finals. But one thing in particular that I think is relevant to us is free Britney. Yeah. Free our queen. Britney Spears fighting her conservatorship. I can't say that word. I think that's what it is. Like, is that the right terminology?

I think so. Yeah. Her father's like had control of her finances in her life. know she might be a little crazy i don't you know or a lot crazy but you know is she really that much more crazy than a lot of fucking crazy people right like where she can't control her own money and life like how many people every day win the lottery and they fucking blow it in a week. You really think her current situation's helping? Yeah, exactly. So she got, I guess, rights to hire her own lawyer.

Like, oh, okay. Pick her own lawyer. Like, is this really happening? Like, think about how many quasi-insane, not-so-with-it people, even celebrities, somebody like, they really got it together. I don't know what it is. Like her entire career, everyone's kind of treated her just terribly. Yeah.

Yeah. And I mean, all she was was like the first, like true, I don't know if I call it, if it's social media, but it was like when Facebook like was first starting out, like 2002,

three, four, like the heyday of the start of Facebook, kind of the viralness of her music videos and things like that kind of coincided. The emergence of like, I know she was like huge on like YouTube, MySpace and Facebook when those were like first getting big. And yeah, it's like, I don don't know huge pop star mixed with the internet star i don't know where the hate came from uh and it seems to have gone full circle because now everybody's rooting for i think yeah everyone figured out they're being terrible and they're yeah free her we're freeing her from our ridicule and from her father's fiefdom. We did this. We're sorry. Yeah, so we'll see where that goes. Free Britney! Because why the hell is she trapped anyway? I don't know. I don't get it.

Again, I think she had a meltdown. A couple meltdowns. But hey, who doesn't have a good meltdown sometimes? When the entire world is watching you 24 7, I would have one way sooner than she did. True. This is true. Another new thing.

I thought this was interesting. Found some good articles this week on hype beast. They're known mainly or started out being known. They got a huge following on Instagram. I do follow them. They talk about trending fashion and stuff, but I think it started with tennis shoes. Yeah, but they did have an interesting brand ranking metric related in marketing, advertising. We're into brands.

Yeah. We like brands. I've heard of brands. We like rankings. Yeah. So I'm going to go through this, Josh. Let's get some reactions here, thoughts. I'm just going to call out the top 10 via the brand ranking.

And I'll start at number 10 the supreme is number 10 we all know supreme yeah cool niche i don't even know what other adjectives i would use just i don't know i mean obviously starting with skateboarding right yeah but like kind of just turn into like they'll partner with anyone yeah which. Which is cool. Like there's a, there's a certain brand on here that I did see they partner with. It makes handbags, but we'll get to that. Patek Philippi is number nine.

I have no idea if I said that right. I'm going to watch guy, but I can't pretend to know. I don't have a Patek Philippi. It's not my style, but it is number nine. That mean anything to you a little bit actually really like some of their like old watches they're okay the old i'm into the old stuff those are really cool

yeah expensive yeah quite expensive i don't have them number this was the surprise of the whole list for me josh number eight it's moved up four spots here in the ranking gap gaps when we brought up a couple weeks ago yeah because they really leaned into their marketing and got really strategic with their partnerships and their up their ad budget as well and uh they also had had that collab with kanye um which of course is kanye So he's going to Midas touch everything. So yes, I mean, you can see, spend more money on advertising, get those partnerships.

It's almost as if it works. I think it's working when we spend more money on the right channels and we choose the right partners. Holy cow, this marketing. Strategy, question mark? Yes. What's the strategy? We have one. the right channels and we choose the right partners holy cow this marketing strategy question mark yes what's the strategy we have one so yeah that was not a surprise but not a surprise uh number seven it might be my favorite name on the list sakai i'm saying that right i hope so

because that was the one i didn't know. I'm just going to admit. And if you didn't know it and I didn't know it, we kind of cover two genres here. Like, we have some overlap, but definitely other ends. But like, if we don't know it, then maybe we need to go Google it later. I used to be a long-term subscriber to GQ. Still don't know that name. Yeah. Not really into that. I don't know.

It made me think of like Cobra Kai. Right. Sakai. Is it like a you know cool karate brand or is it something way like juicier than that and we're just butchering it and people are gonna listen to god they don't know what that is oh my god i'm never listening to radcast again and number six would you like to pronounce this one for us number six josh uh i think it's like a new brand called Louis Vuitton.

Louis Vuitton. You know someone says it that way. Something new or something. Yeah. Louis Vuitton is coming in at number six. That one's not a surprise. Yeah, they've been steady up there. Steady brand.

I mean, it's still like the cachet of the old Louis. They've finally broken past just being bags. Yes. I've gotten into some of the streetwear style, but yep. And so number five, another one I know, and then I like some Yeezys.

Oh yeah. Does Adidas make Yeezys? They own it now. My side. Is that right? Yeah. I think so. You got to check with the producer.

Yeah. Producer Daniel. Check. Yes. I feel like I knew that, but didn't know that. I was like, yes, yeezys uh did they start it or did they it was a sub-brand or did they buy a nike at first they okay all right yeah like how could this was uh how can we start selling our shoes and study for forty dollars for $400. Yeah. Very good. The exact same materials,

just a little bit more fashionable in our own minds. What if we put more money? And we'll make a scarcity because we'll make fewer of them. We'll make fewer, we'll sell more. We'll make more money. Perfect. It's called capitalism. off-white number four

what's off-white known for uh probably their biggest thing was their nike collab okay so they they're kind of you can recognize them usually by like recently been doing things where it's like stamped like big all caps letters and so they're like label things so like you're the nike ones that literally had like upper and then stamped laces and then like lower stuff like that so it's like they're labeling the parts of your clothes nice okay but they had a belt that was like super popular for like a couple years but it looked ridiculous number three and i still have a pair of these the walkarounds or walkers or whatever they're called vans vans i remember growing up and i was skateboard guy for a little while not long like three or four years probably like 10

and 11 to 15 14 i don't know i started playing basketball it was like no good being a skateboarder but tony hawk and like i think he might have been original fans guy or one of them you know but you like fans oh yeah i remember in high school and then kind of since then it was like anytime you watched a like live concert or went to a show like nine out of ten of the like players on the stage were wearing vans so everyone's that's so cool they were probably at least in my memory one of the early not just influencers but influencers and street marketing and all that big ball of wax like pre-x games all that stuff. Vans is like the original marketing, I don't know, savant. I don't know.

They just do their thing very well. Yeah, do their thing. It's like they stay in their land. They work with people who they think are cool, like musicians, artists, skaters, cyclists, stuff like that. They're just cool. They're cool, and it all seems to radiate around that brand, which is very smart.

Number two, Adidas, also known as Adidas. They're crushing it. Yeah, they are. They've been really taking over the last few years. I love me some Adidas soccer shoes. I got two or three pairs of those. Super comfortable. Don't have them on today.

I will wear them next week sometime for you. Great closet staple. Yes. And they've, I mean, they've got golf. Their golf stuff's good. Their street wear is good.

Their shorts and just everyday wear is good. And then the brand is, you know, they're being super smart with making $400 Yeezys. Right. They're only two of the top 10.

They actually, with their collective ranking of Yeezys and Adidas. Yeah. They're effectively should be number one, I think. Totally. And number one, and no surprise, in our top 10 hype beast brands, Nike. I've got my Nikes on today.

You have your Nikes on. Nike. Phil Knight. Also an Oregon duck, but the Nike brand. Still kicking it at number one. It does seem to just have that longevity between, you know, I don't know. For me, it started with Jordan, you know, Air Jordan growing up and owning that. And then I know Jordan's kind of built his subsegment.

And then you got Tiger Woods and all that, like in my mindset. And now it's just a behemoth in so many other layers. Um, I will say, I think Adidas is more in my, my, my kind of periphery of what I choose, but it's just, there's no denying the power of Nike. Yeah. They're too big, too big to fail. Yeah. And they're smart too. They do it. I mean, they have so many offshoots as a brand. It's like, we can literally do a news segment on just their marketing tactics every week. Definitely. It's like, it's like, I'm going through like some of my, uh, journalistic sources, like every other time, sometimes there's something about Nike and some activation. So ingrained in history. Yep. And then, you you know i don't know what's happened with some of their tech stuff i did have like the running band at one time they were in that fitness tracker stuff i'm sure they probably still are but it's falling off the radar

a little bit they kind of suck technology it looked cool like the brand was kind of cool like the running band but then like the app sucked and like i don't know maybe they've rebounded somebody's gonna send me some messages like, you haven't tried their new whatever. Okay, we haven't, but it sucked when I tried it and they haven't gotten back into the realm for me.

Cool. That is your Hype East top 10 brands. We're going to do that periodically. I think that was kind of fun. We'll see how much they change. They stay the same every week. We'll see. It looks like there was some movement with G coming in oh yeah yeah so not a surprise everything else um yeah this was interesting it was going to be one of the news topics but i thought this was funny so apple if you mess around with the weather app it's ever you know balmy 70 degrees and it might be fluctuating a degree or two into a funny, you know,

number that everyone laughs about, right? Dual meaning, whatever. Quadruple meaning, which there's lots of. It has to be my stepdad's favorite number, which is kind of weird in and of itself. Nice. But yes, 69 will not display

in the Apple weather app for some reason, which was both funny and surprising with how liberal apple is but uh reactions i mean i guess we'll experience some nice weather but not whether that's nice yes not that nice yes they're missing out on the 69 in the weather app so give that a try if you're listening uh i thought that was interesting i i don't know that we're going to hit in South Carolina here. If we're going to hit 69 and we're in the middle of July. It's going to be a few more months. Maybe October we'll hit 69.

Maybe I can like hack it and then just make my app only say 69. Yeah, put it like the refrigerator. Oh, yeah. Could you do like, I guess it's doing outside though. It's like some radar somewhere. Man, I'll find a way. Find a way. Find a way to see if it should say 69, if it skips over it to 68.

Anyone out there that has it, report back if that is actually true. Yeah. But supposedly it's true. We wouldn't know because we can't test it here in South Carolina in the middle of July. Right. But anything with TikTok on your radar this week, Josh? Biggest one I've seen is is there's plenty of them but there's the me explaining sound which is someone kind of explaining where it's kind of like me explaining a topic and the person's just not understanding

like it seems people like talking to their cat and it's like the voice the sound with is like it's like gibberish and they're like talking to my cat explaining that earbuds are not a toy or like uh like me like i saw some for like advertising me explaining to a client that like you can't like do this sort of tracking or like you can't um we can't make 50 000 billboards with two dollars like and there's like probably one like and the other person's like just not listening uh seen plenty of terrible ads honestly yes that has been hitting my radar there's been some uh there's even been a like an ad age article on it where it's like the entry to tiktok from marketers has been extremely awkward.

And you'll notice a lot of people are turning their comments off because they're just not prepared to deal with the pandemonium happening. Because I think people need to realize that TikTok is not an organized place. You got to kind of go in with a little chaos, be loose with it, have some fun. And then even Disney's putting out stuff where it's just a picture and it's just so lazy, but someone who I've seen do a great entry is, um, top gear announcing their newest,

uh, special. That's been super well received because they've already, they already had a presence of people posting their clips from the show. Yup. TikTok has a massive car, um, like car enthusiast,

like audience. Um, so that's one where I applaud you of like, they did their research, they know who's on their app. And then they went in saying, we don't, they literally were like,

I don't even know what TikTok is, but they told us to do this. So, Hey guys, we're announcing our show on TikTok. And it's, it's very funny. And they're,

they're, they're always funny i like it i like it the uh the one thing that's hit my radar it's not new it's probably a month old and maybe just because i listen like country music and stuff but like the fancy like dance oh yeah that's like a month old i know it's not new and we're doing trending topics here but walker hayes the country artist is that does any of those hit your radar i got a few of them okay it's like applebee's and all that stuff and now he's got a free brand kick from that i've heard you know nice especially i could date like applebee's like i said earlier from the

song but uh i guess since now i i looked at a couple of those videos now i'm getting like everybody that's doing the dance that walker hayes and his daughter did uh to the song but uh it's kind of catchy they're playing a lot on uh uh serious xm my uh highway that's the channel that i was thinking of the highways playing it like fancy like it's kind of catchy so uh that's hitting my radar a month later on tiktok maybe that's just my uh my my feed right there's always like a month behind the trends you know uh cool we'll move right to the news topics news facebook is committing one billion that's a b billion with a b to pay creators about time i guess yeah no it's like well there's gonna be so much competition oh yeah and look it makes sense right like it's kind of like the creators and their content is

like stations on a tv program right yes you come to to see the content the entertaining content yeah yeah you care what your aunt suzy's doing and all that but i mean how many times can you see her bake an apple pie or you know tell uncle howard like you know hey you need to be doing this you know whatever that that's only so interesting we need the content from the creators right yeah for sure i think like they've always been really trying to like compete with youtube and um been a little behind because youtube's been monetizing videos for a long time you can can make a lot of money getting some views. And even TikTok's got a creative fund. Not as robust.

There are kind of a lot of kinks there. But I think Facebook, I think it's the right move, but I think they should have done it about five years ago or ten years ago. They might be a little late. I don't know. When they say Facebook, I'm sure that overlaps with, with Instagram. And so that, that's probably a more likely avenue for them maybe to, to get some traction with this, but be interesting how that payment works out. Is it like, like you said, is it going to be the monetization route of YouTube based on,

you know, number of views or is it, which makes sense, or is it going to be a more sponsored type thing? I don't know. It'd be tough to know. Yeah. If you're thinking about posting to Facebook and Instagram, maybe you should start doing it. But they did say Zuckerberg came out and said

trying to help their creators have a living wage from just content on the platform. Hey, so if you create content all day yeah have a living wage of i mean twelve dollars an hour or whatever i don't know i think mark mark knows it's helping fill his pocket so yeah might as well yeah one billion dollars what a generous guy work at work at facebook.com yeah one percent of their annual revenue yeah the snack for him. Yeah, exactly. He spent that on his yacht last week.

I don't even know if he has a yacht. I'm sure he does. But number two on our list. This was all over the place. And we do have a client that actually was involved with this because their fabric was used in Branson. The millionaire race to space. I'm just going to call it that. The billionaire race to space i'm just gonna call it that yeah the billionaire race to space

you had branson with virgin the virgin launch that happened you know did you watch any catch any of that yeah i watched his uh his little speech and his little float around yeah it was good crazy looking plane too i know it's like none of this is approachable yet it's like two hundred thousand dollars for like, and whether you had the money or not, it would not be that interesting going to space. Like how niche is this? It's like these guys are all worried about getting there first.

You know, Bezos is going next year, next week, or is it a week away with his, the name of it? I can't remember the name of it. Something rocket ship. We're going to call it the blue amazon amazon spaceship and it is something something shepherd is that like specific

ship i remember um it's called prime one yeah god did you see the news clip of like the news broadcasters were like showing a clip of it and the guy one of the like broadcasters saw it for the first time and just couldn't stop laughing because it it has a very uh unique uh shape who has the biggest rocket ship read my list no god i also love that like they're also jeff was like oh richard didn't actually go to space like he didn't he didn't go far enough so now they're arguing about where space is and your ship is not as big as mine your ship has not gone as deep into space as mine oh god oh my gosh this is oh yes thank you what's the weather again uh i don't know like it's just entertaining that these guys are like jabbing each other who goes to space

I'm sure there's a lot of space freaks out there that are like oh my god I would want to go to space all that if it became commercialized and totally safe would I do it for like a few thousand dollars maybe maybe but am I really that interested in it

I started thinking about i'm like man there's just so many other things i'd rather do yeah like you're like i don't know i can even if it's like for a couple grand i could do that but like i don't know i'd rather have a better drum set than uh i don't know yeah yeah thank you i can keep having their little uh the billionaire race to space to be continued. They can go. But you know what? This is going to sound, I'm going to say it because it's what came to my mind.

You know, I feel like one of these is not going to end well. Yeah. I'm seeing like Challenger, like 1984, I'm like seven years old. I remember being in elementary school on the Challenger ship. You know know this is when like space was cool and astronauts and all that stuff and i i say this not jokingly but just i just feel like we're gonna like one of these guys is gonna blow themselves up yeah can we i i don't i really don't mean it jokingly but doesn't it kind of feel that way a little bit like all like all three of them have had so many rocket failures. Yeah.

So many crashes, so many things. And they're just, all three of them are racing, so they're rushing everyone. Yeah. Like, rushed work is never good. I think you're going to, I really hope I'm wrong in this. Maybe they figured it out and that's taken so long. But I feel like this is going to come to some kind of screeching hot with some kind of accident but we'll see the billionaire race to space continues will to be continued next week we'll let you know how vasos did yeah uh lastly today and this kind of relates to what we talked about either last week or the week before kind of giving a little

bit of guidance this kind of hit my radar and's not surprising. I kind of felt it was coming. Marketing budgets are slipping. They've shrunk to 6.4% average of total revenue, marketing budgets across all brands nationwide. It is the lowest percentage average on record in the history of Gartner recording such data. And look, it doesn't surprise. It totally doesn't surprise me. And I think it's two things.

They, they, there were a lot of losses last year. So I do understand it for some brands. They don't have, they're trying to make up for losses. Totally get it. But I do think what you have going on here is a little bit of that. Things are good right now. Yeah. People are cutting back.

Oh, we could spend less it's a mistake people don't buy take the fruit you know this is when you need to double down and i'm not saying spend more but definitely don't spend less yeah this is your chance to really go after brand metrics and things like that but this definitely hit my radar josh yeah like you're starting to get some traction it's time to go for it yeah um i know some of the some of these like there's plenty there's some other factors like people are like oh we can target better so we can uh spin less and it's like you can grow your audience also yeah exactly big eye roll there yeah awareness still matters people and then there's plenty of uh

major tech companies that are starting to pull back on their stuff because i mean they're reaching like they're like top like usership numbers like spotify um like uh what's the uber like lift but they're all the big tech companies that have never been profitable uh spotify has never made a profit and it's 12. It's lost money. I will say this, and this will surprise people. One of the more frequent questions I get from clients that we first start working with or that are looking to hire us, they ask us, you know, how much, what should our marketing budget be? And, you know, 6.4% of revenue

compared to what most people even come into us, which is the average now. Most people that come to us, the medium-sized brands and companies we work with are not even spending close to 6.4%. They're spending more like 3% or 4%. And that's the biggest question. And I tell people all the time, it really depends on the industry. And that is true, but it's also like, well, do you want to shrink? Do you want to stay the same or do you want to grow? Right. And so, and it's not always that easy, but yeah, spend three to 4% and let's see what happens over five years. Right. You know, spend in the average range, you'll stay the same. And if you want to grow, you got to spend more. And so it's investment people.

And I think that's a real key distinction that if you want to grow, you on in general, there's certain industries that don't fall in this, but you've got to spend seven to 10% of revenue. You want to grow. It's hard because it's going to be in competitive industry. Yeah. And one thing, if you offer Uber before there was Lyft

it's hard too because it's such a delayed response to you invest in some new equipment, you hire someone you start making more stuff right away marketing, it takes time and takes frequency but if you want to be a long term company, a long term brand, you have to do it. Short term ism is the path to doom ism.

And it's what we live in. You know, everybody wants it now. Yeah. Short term leads to short term. Sorry. Hey, there you go. There you have. Hallelujah on that one short term. Sorry. Hey, there you go. There you have it.

Hallelujah on that one. Amen. Amen. Profound. You're on the Radcast. I think that's it, Josh. An extended news version today. Hey, we had a lot to talk about.

Oh, yeah. A lot going on. A lot of fun stuff. Alani knew. Call me. But I appreciate it, Josh. You know where to find us. We're at theradcast.com.

All our content can be searchable there. All the highlight clips, all the videos, all the audio right there at theradcast.com. I'm at Ryan Alford on all the channels. Josh Chill on Instagram. Find us there. We'll see you next time on The Radcast. To listen to full episodes or to contact us,

visit us on the web at theradcast.com or follow our host at Ryan Alford on Instagram. Or to contact us, visit us on the web at theradcast.com. Or follow our host at Ryan Alford on Instagram. Thanks for tuning in.