SBP 036: The Gravity of Ecommerce. With JP Castlin and James Hankins.
We're thrilled to be back after our summer hiatus with an exciting new episode! In this installment of the Sleeping Barber Podcast, we have the pleasure of hosting JP Castlin and James Hankins, who join us to explore the compelling themes discussed in their paper, "The Gravity of Ecommerce." Tune in as we delve into the allure of online retail and the stark reality that many e-commerce businesses struggle to turn a profit. Our guests shed light on the numerous challenges and misconceptions that often ensnare e-commerce entrepreneurs, including the unearthing of hidden fulfillment costs and the pursuit of efficiency within the supply chain. And don't forget to stick around until the end for a post-podcast discussion with our insightful hosts, Marc and V, as they reflect on the key takeaways gleaned from their enlightening conversation with JP and James. It's an episode you won't want to miss, so sit back, relax, and enjoy the show! Our Guests ------------ JP Castlin - https://www.linkedin.com/in/jpcastlin/ Strategic Management Consultant Author - 2 upcoming books & articles in Marketing week, WARC, IPA, The Drum Speaker James Hankins - https://www.linkedin.com/in/james-cp-hankins/ Global VP Marketing & Strategy Planning @ Sage (ERP) Consulting Strategist @ Vizer Consulting Co-Chair of IPA Share of Search ThinkTank @ IPA Our Hosts ----------- Follow our updates here: https://www.linkedin.com/company/sleeping-barber/ Get in touch with our hosts: Marc Binkley: https://www.linkedin.com/in/marcbinkley/ Vassilis Douros: https://www.linkedin.com/in/vassilisdouros/ Podcast Literature -------------------- Questioning the Growth Dogma: https://journals.sagepub.com/doi/abs/10.1177%2F10422587211059991 The Gravity of Ecommerce: https://www.warc.com/content/paywall/article/warc-exclusive/the-gravity-of-e-commerce/en-gb/146943? Winning the Final Mile: https://www.marketingweek.com/ecommerce-final-mile/ Evolution of OmniChannel to connected commerce: https://www.globallogic.com/insights/blogs/retail-evolution-will-the-dinosaurs-die/ Unified Commerce: https://blog.qivos.com/unified-commerce-the-evolution-of-omni-channel/ JP Creating Cash Flows: https://www.marketingweek.com/jp-castlin-bigger-marketing-budget-focus-creating-cash-flows/ Digital Availability: https://theeqplanner.wordpress.com/2021/01/26/why-digital-availability-aids-strategic-decision-making-plus-why-digital-ads-arent-analogous-to-rent-or-signage/ The Jevons paradox: https://en.wikipedia.org/wiki/Jevons_paradox Timestamps ---------------- 0:46 - Intro to JP & James 3:10 - The attraction of eCommerce 4:03 - Why profits are elusive in an ecomm businesses 9:57 - Growth at all costs? 12:20 - Digital availability - why digital ads driving ecomm aren’t really ads 18:00 - Why we underestimate the costs of ecomm 22:14 - Ways to increase ecomm profits & effeciency 25:10 - The marketers responsibility to commercial creativity (not just ads) 27:40 - Recovering the margins of digital commerce 36:37 - Can small businesses compete with Amazon? 40:29 - Why so many DTC companies open retail stores 43:19 - Value chain vampires 47:02 - Why ROAS is not an optimal financial metric 49:25 - The problem with hiring marketing specialists 52:40 - Marketers can add value by understanding the business model 58:18 - The strategy behind the vegan sausage roll principle 1:02:03 - How to find out more about JP and James 1:03:50 - The post-pod with V and Marc Where to listen ----------------- Apple Podcasts: https://podcasts.apple.com/ca/podcast/the-sleeping-barber-a-business-and-marketing-podcast/id1609811324 Spotify: https://open.spotify.com/show/4v0kaM350zEY7X2VBuyfrF?si=7083317d5afd488b Google Podcasts: https://podcasts.google.com/feed/aHR0cHM6Ly9hbmNob3IuZm0vcy84MWVjYWJhNC9wb2RjYXN0L3Jzcw?sa=X&ved=2ahUKEwji_oSOopP-AhXnlo4IHTZKBgYQ9sEGegQIARAC Youtube: https://www.youtube.com/@sleepingbarberpodcast © 2023 Sleeping Barber