Eric Stopper 17:59
so going back To kind of the river analogy, I like that because I agree, I think a lot of people are there, they’re just at the same Lake, they don’t even pick the spot in the lake. They just kind of, they just kind of throw their line out and hope that they get somebody and then they wonder, right, like, when the fish isn’t the one that they wanted, and they and they get a negative review or whatever, right? Like it’s, it’s all about alignment with who, who your target is. So if we go to the river, there are two kinds of questions that I have. And this applies to everybody because I think a lot of the people that we sell to has these windows of interest, right? I sell dog collars, right? Like you’re not gonna buy a dog collar once you’ve already had a dog for a year. Right? So if I don’t get them at the point that they’re searching for even like dog breeds and stuff, like my chances are really slim. So question number one. Obviously, the more products that you have, sitting, you know, ready in this river as almost like fishing lines are Net, I’ll let has like the one the sock, the video camera the bundle. And then the dream labs are there. Like, how are you guys adding more lines to the river outside of your product suite? Or is that the only way? That’s the first question?
Jordan Monroe 19:19
No, I think, you know, I think getting penetration on the SOC is also really really key, you know, other product lines or help with this vision of, you know, holding parents hands through the journey of parenthood, which is something we really want to do, and you can’t do that with just one product. But I think on top of that, you know, going deeper with the smart sock is is is still really key. You know, we’re, we’ve submitted for FDA clearance and we’ll be getting that this year. And yeah, so I think and we’re doing some clinical studies to kind of show the effectiveness and, you know, highlight a lot of what we’re seeing today Totally, which is that people are emailing us and saying this alarm me for my baby. And I had no idea that he had rolled over I had no idea that you know, the babies that are put them down on their belly. I mean, we’re, we’re informing them of things that parents didn’t know about. We’re seeing that anecdotally. And we’re really excited to kind of publish some research that shows that that’s, that’s actually effective. So that’s all kind of coming in the works and going deeper on this mark sock is, is something we’re really really passionate about.
Eric Stopper 20:32
So but yeah, are you building then? If the idea is to catch more fish, and you’re not, and you’re not technically going to add like, you know, 10 skews to support this, this one skew? It sounds like that would be almost infeasible is the idea just to create a stronger fishing pole right, like a stronger net? Or, you know, what, what can you do at the top of the river that will impact influence the point that your you know your net is actually hitting these customers have you guys looked at that whole customer journey and tried to understand different ways that you can strengthen your net strengthen your fishing pole? That flagship product?
Jordan Monroe 21:16
Yeah, yeah I think that’s all around like you know for it to be strengthening the net is improving the funnel right and making our marketing more direct you know more cost-effective and yeah making that function better I think you know moving upstream and downstream is kind of growing the lifetime value of a customer so offering more products, you know different pieces of the stream.
Eric Stopper 21:46
So that fatten the fish up on the way just throw in food. It’s free, free stuff. My second question is, and I think this applies to most people and they’re unaware of it. Is that there’s, there’s typically like, really narrow parts of the river that everybody has to go through. So for your market, right, I would say that’s probably what to expect when you’re expecting, right? Like if your product appeared in that book, it would probably just change the whole dynamic of how people shop for baby products, right, if they were actively endorsing those things. Have y’all looked at strategies like that, that are almost like dams in the river where you know that there’s a huge bottleneck there, and you can just cast your net and just pull people in.
Jordan Monroe 22:34
Yeah. So you know, one thing is,
so we buy emails of pregnant people. So everyone had that gets a baby, it gets pregnant. We found that one out pretty quick, but and so that’s been something really key to us is to really, you know, target our message toward not even just pregnant people, but people that are pregnant at a certain point. You know, in that lifecycle, so you know, catching up in that last trimester and being highly targeted.
Eric Stopper 23:07
And that’s just that’s where it all starts. As soon as you know that information about people is that pretty easy to figure out? I would assume that I mean, everybody posts about their baby on Facebook. And so is it an AI has to look at the picture, right? Like, how do you figure that kind of thing out?
Jordan Monroe 23:22
Yeah, Facebook’s okay. Facebook says that they can do that. We purchase them. We purchase actual emails from another database that is that people are going in and saying, here’s my due date. So Oh, that makes sense.
Eric Stopper 23:39
distilling that for the common. The common seller on Amazon, if you’re not in the b2b market, right? Like, you should, you should still probably buy emails, you should still be doing marketing outside of Amazon. Especially if it’s the bottom of the final channel for you. I think that’s some good advice. Now,
Jordan Monroe 23:59
yeah, it’s If you’ve created a brand and you know your dollars aren’t going to go to getting other people to, you know, purchasing your customers, your potential customers purchasing other people’s product, you know, I think that there’s tons of value again to do that.
Eric Stopper 24:15
Yeah, and I guess you guys have cracked the code on it right? You said you had 10 other competitors that have, you know, tried to throw their line in this water and they just couldn’t they couldn’t feed themselves. Yeah. So I guess I wonder like if they really had products that could help solve this pain, do you think that’s what it goes back to his ability to solve the actually solve the pain of sleep? Or is it more of they didn’t understand that there’s a whole customer journey that they got to have, like, you know, it doesn’t touchpoints with before that person buys, do you think it was in a misunderstanding of the market or something about the product that caused their failure?
Jordan Monroe 24:51
I think the mix of both but I think that there’s it’s a product I think a big piece is the product-market fit in my opinion. Sure.
Eric Stopper 25:00
Yeah, that makes sense. Now in my research of you, Jordan, you you don’t wear smartwatch, right? You You want to be disconnected. And so I was I was reading articles I was I was reading things that you are, you know looking to the future and helping people understand kind of your take on, on what the Internet of Things looks like and what is declaring war on our attention and stuff like that. And I am on the complete opposite side of the fence. I like if Alexa tells me something wrong or can’t figure it out. I’m like, remember this right? Like I tell her that and she’s like, sorry, like, I don’t know how to do that I get mad. I’m like no, you need to know more information about um walk me through some of your thoughts around Attention and health you’re in this baby space and you’re obsessed with it. I can tell just by the culture of the business, but kind of walk me through your thoughts. And you even talked about something called gross domestic health as a measurement for society. Just give us a flavor of where your head’s at.
Jordan Monroe 26:21
Yeah, I think that there’s
No i think there’s everything like privacy your thing on Alexa, I probably do the same thing. Like I’m probably I’m not crazy about my privacy. I would love to give Alexa all my bank statements and Google you know, everything about what I do if they would just give me better content, you know, write more relevant ads, man, I would just love that. So it’s less about privacy. It’s more about I think, the attention piece and I think a lot of our attention will go to screens in general. And at the end of the day, we end up feeling Pretty unfulfilled got this whole belief on gross domestic happiness. And how I feel that the reason we measure gross domestic product is because we really care about we think higher economic growth leads to more happiness. Right. Right. Look at the last decade, you know, we’ve had fantastic since 2008, we’ve actually had fantastic economic growth. And we’re actually yeah, we’re actually in a public health crisis, a mental health crisis. You know, I went to a panel on this just recently, and, you know, especially in Utah, you know, we’ve got the highest usage of antidepressants. You know, the largest cause of death of teenagers in Utah is, is suicide. I mean, we’re dealing and then the opioid addiction. The opioid epidemic is really just a mental health epidemic wrapped up And opioids, right? These are people who are having a hard time dealing and are moving to opioids to help cope. Right? So I just think that you know, we’re measuring gross domestic product and economic growth because we think it makes us happier but why don’t we just measure happiness directly like we’re skipping the middleman and say, You know what? screens are making us unhappy and let’s find a way where we still get all the benefits of screens, but we can you know, you know, get rid of a lot of the negatives that are causing
Eric Stopper 28:36
me to be so put on crap put on your tinfoil hat for a second with me and let’s look into the future right and talk about how it works because I turn off my phone when I go home so that I can play with my kid right and I’m addicted to TikTok at this point, I super love it. And that’s like my that’s my guilty pleasure. So good. So How in the world do we start measuring? Is it gross domestic happiness? I’m sorry, I called it health before happiness. Is it a self report? Is it a government survey that goes out all the time? Is it a, you take your blood and it tells you how many metta chlorians you have, right? Like, what? How do we get there?
Jordan Monroe 29:18
And yeah, I think I think right now, it’s just it’s a subjective measure that’s done via survey and that’s how there’s that’s how psychologists measure contentment or happiness right now. It’s just a really simple survey. You know, how are you feeling right now? Are you feeling anxious? Are you feeling depressed or feeling, you know, the, it can be really in-depth, but it can also just be really light like a measure of one to five, how are you feeling right now? You know, and, you know, if we just if, or, yeah, and we could very clearly see that, you know, as soon as we cleared up traffic on I 15, you know, user gross domestic happiness went up by 10% man looks like traffic is really making people unhappy, you know, how are we going to fix traffic? Like, that’s just a totally different concept versus like, okay, it cost us too much to build a road right? You know, let you know economically doesn’t make sense but it’s like the whole goal is to be happy in life. So why don’t we just focus on that?
Eric Stopper 30:18
Yeah. And it seems like if I’m able to improve happiness in my customers and I and I feel like there’s certainly been studies on this right if I’m able to improve the mental health of my workforce, they will invariably be more productive, which means gross domestic product will also so you’re talking about striking at the root right getting the main issue solved so that then we have more economic success more people go to work, or people are productive at work more people elect to probably exercise and stuff like that, which allows for lower sick days.
Jordan Monroe 30:54
I definitely a positive feedback loop of you know, better begets better and yeah to agree with you there,
Eric Stopper 31:01
I think I think my, my whole deal too with happiness is you can elect right like, you can tell the robot what you want to see. Right, Alexa shows now the echo shows now now prompt you with, hey, try saying this right and some of the stuff that it shows is awful, right? It’s, you know, there’s a famine happening in Yemen or you know whatever it is. And if you say tell me the Yemen story, Alexa then knows to serve up you know, controversial political, you know, call it what you will negative pieces. Or as if you go through and you say hey, Alexa, tell me something good. You know, she’s been programmed to keep feeding stuff like that to you. So do you think that this is going to come from, you know, government organization or is this just going to come from the people getting more as candid about what they need to be filling their happiness pipeline with?
Jordan Monroe 32:04
Yeah, I think I think that there’s manic I think government sucks that a lot of stuff. So I don’t know if they would solve it I think it would first get solved by smart entrepreneurs and people and thought leaders, you know, I think right now I think the spotlights on mental health, everyone sitting here saying Holy crap, the last 10 years have just been really bad. You know, you compare that to, we went through an economic recession, and somehow it’s coming out of the recession that’s been harder for us. So it’s not just the economics that could affect our happiness.
Eric Stopper 32:42
I now, outlet, as a product is very much a, is a monitor a monitoring device. I’ll say that FDA come call me. But is this going to contribute to that? That happiness right, the idea is You want people to have more sleep when they have kids? And more sleep equals more happiness? Is that kind of the goal and mission of Allah in general?
Jordan Monroe 33:09
Yeah, I think that’s what gets us excited is that you’re, you’re making a real impact on people’s lives.
And this is one of like the hardest times ever, you know, that you’ll go through in your life. So
it’s the thing, that’s why we’ve got a really high net promoter score is because we’re just delivering a piece of value that you just can’t find anywhere else. And it feels really good. It’s really fun as an entrepreneur to see that effect on people.
Eric Stopper 33:38
So, Jordan, where do I send people obviously, outlet care.com go and go and copy one it makes a great present is my understanding. Yeah, how else do I get people to get involved with what you’re doing?
Jordan Monroe 33:52
I think that’s probably the best thing following us on social is great too and kind of see what the brand does. This is Yeah, this is pretty unique that we kind of share some of the inner learnings and you know what’s going on. We don’t have, we don’t really blog a whole lot, at least for like, you know, business for entrepreneurs. So
yeah, Scott was able to share a lot of this stuff today.
Eric Stopper 34:15
Right on, check out dream lab, check out the outlet, smart sock two and their and their camera at outlet care.com. Going kaput on Amazon if you want to automatically give them a fee. And we’ll see you next time. Thanks so much, Jordan. Hey, man.
Unknown Speaker 34:33
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