How VALUE Based Marketing Can Grow Your Business from Sarah Hardwick

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<v Speaker 1>I was brought up in a house where anything was possible.

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<v Speaker 1>There wasn't as much of a standard of you've got to get straight A's and you've got to do this, but as much as this feeling of empowerment, and so I feel very fortunate to have had that freedom to be able to pursue my success.

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<v Speaker 1>I definitely do think growing up with this feeling of limitlessness really has impacted my understanding of what success is.

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<v Speaker 2>You're going to be amazed today Crowdfunding, how to do it, what works.

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<v Speaker 2>How Sarah raised $140 million in crowdfunding, 19,000 investors, great story, amazing lessons.

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<v Speaker 1>You have to care about what you do.

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<v Speaker 1>So if you don't care about what you do, no one else is going to either and you're not going to have that feeling of success, the hardest step I've ever gone through.

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<v Speaker 1>It makes the success and the feeling of success even greater.

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<v Speaker 2>Building your tribe brand ambassadors, the 80-20 rule and how it applies to your business.

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<v Speaker 2>Let's go with Sarah Hodgman.

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<v Speaker 2>So, Sarah, what's your definition of success?

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<v Speaker 1>At the end of the day, I believe that for me, success is actually a feeling.

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<v Speaker 1>I think that you can't be successful unless you feel successful, and so for me, the only way that I really have found that I can do that is by aligning with my personal meaning and purpose.

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<v Speaker 1>So I think for me that meaning and purpose comes from my values.

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<v Speaker 1>So getting honest with what that is, what my meaning and purpose is, has really been, for me, the key to success, and I think what's been kind of surprising for me to understand over my career is that it's not always about making money.

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<v Speaker 2>Yeah, yeah, I mean it's funny how over our period of time that changes.

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<v Speaker 2>So with your self-exploration and finding your meaning, finding your purpose, that I guess that makes you feel successful more because you know where you're headed.

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<v Speaker 2>Is that, am I purpose that I guess that makes you feel successful more because you know where you're headed.

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<v Speaker 2>Is that?

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<v Speaker 2>Am I understanding that right?

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<v Speaker 1>Yeah, I mean, and I think I guess it's you know really cause it's it's having gone through some experiences of having those really big wins.

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<v Speaker 1>For example, I had an amazing experience I actually sold a domain for a million dollars in 24 hours and that was like one of the most you know kind of financially amazing, successful things that had ever happened to me and that was amazing, but it was the feeling was fleeting.

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<v Speaker 1>So for me, I think, especially when it's more transactional, even with those big wins, that feeling of success can be fleeting.

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<v Speaker 1>So for me, understanding kind of what I, what my meaning and purpose is, and then aligning that with my work is important.

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<v Speaker 1>So for me, I think that means, you know, changing the world, making it a better place for my son, elliot, who's 10, being a role model for him.

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<v Speaker 1>So those are the types of things that I think make me feel successful.

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<v Speaker 1>So weaving those into my business and my work and my passion is how I can continually keep that feeling of success alive.

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<v Speaker 2>All right, I got to ask then you said it a few times how did you, sarah, find your meaning?

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<v Speaker 2>What led to that?

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<v Speaker 2>Was there a journey?

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<v Speaker 2>Was there an aha moment?

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<v Speaker 2>How did that come about?

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<v Speaker 1>Yeah well, so it's very interesting.

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<v Speaker 1>So I started my company as an entrepreneur when I was 25 and it was a marketing agency called Zenzy and I ran that business for a decade and you know, we had great clients, we had Nestle and Chiquita and Crystal Geyser and but over, like after the first 10 years, it just started to become a grind and it just even though, you know, I started to lose the joy in it.

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<v Speaker 1>So for me, I started looking back at you know, all the campaigns and the work that I'd done and you know what had.

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<v Speaker 1>You know which ones were the most successful and which ones was you know were the most meaningful to me personally.

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<v Speaker 1>And what I uncovered was that all of those campaigns actually had one common ingredient which was tapping into values, those core desires and motivations, and really making that human and personal connection.

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<v Speaker 1>So at that time there really wasn't any way to connect you know the psychology around values and emotions to marketing.

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<v Speaker 1>So I decided, okay, well, if I'm going to give myself meaning and kind of and really figure out what my purpose and meaning is, I need to dig deeper into this subject.

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<v Speaker 1>So I worked with, I contacted San Francisco State University.

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<v Speaker 1>I had them help me build out this framework of understanding values and measuring values and using all this research.

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<v Speaker 1>And then I transformed my whole agency into the world's first values marketing agency.

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<v Speaker 1>Transformed my whole agency into the world's first values marketing agency.

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<v Speaker 1>So for me it was like this huge risk and, you know, following my passion, but it ended up in a successful exit for me.

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<v Speaker 1>So that was really, I think, the pivotal moment, when I realized I have to uncover what my you know, my values and my purpose and meaning is, and I think that's kind of a journey that we all have to go on, and I've created some tools that kind of help other people do that.

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<v Speaker 1>So for me, that was really the moment.

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<v Speaker 2>So where do you feel success became like your performance standard.

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<v Speaker 2>Where did you choose success?

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<v Speaker 2>Young girl, college age, where did it happen?

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<v Speaker 1>I mean, I think, gosh, I think it's a some in some part of me, I think it's kind of inherent in who you are, and you know there's not a choice.

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<v Speaker 1>Is there a choice?

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<v Speaker 1>Some in some part of me, I think it's kind of inherent in who you are, and you know there's not a choice.

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<v Speaker 1>Is there a choice, you know, for me?

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<v Speaker 1>I moved out of my house when I was 15.

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<v Speaker 1>You know, I've gone through a lot of ups and downs and there really wasn't another choice.

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<v Speaker 1>I just, you know, I knew that, you know, for me, I thought I craved that feeling and again it's, it's really a feeling and I wanted to feel successful.

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<v Speaker 1>And so, you know, for me, I think, from a very early age, I always, you know, longed for that feeling of meaning and that feeling of, you know, just being connected and of, you know, success is always winning.

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<v Speaker 1>And I think that's really kind of a lot of the hard lessons that I've had to learn is a lot of the best times in my life.

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<v Speaker 1>I didn't feel really successful, you know, but I learned a lot.

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<v Speaker 2>Oh, I can relate.

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<v Speaker 2>I can relate for sure.

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<v Speaker 2>You know, I guess you know, when you're brought up in a household or in a school or in around people, that success is their performance standard.

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<v Speaker 2>It's just natural.

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<v Speaker 2>Do you think there was parents, friends, grandparents?

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<v Speaker 2>Where do you think it rubbed off from for you?

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<v Speaker 1>Yeah, I mean definitely.

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<v Speaker 1>I think I was brought up in a house where I was told anything was possible.

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<v Speaker 1>You know I could be an astronaut, I could be, you know.

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<v Speaker 1>So there was not.

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<v Speaker 1>There wasn't as much of a standard of you've got to get you know straight A's and you've got to do this.

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<v Speaker 1>But as much as this, this feeling of empowerment around you know you can be.

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<v Speaker 1>You know success is whatever you want it to be and you can be anything that you want to be.

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<v Speaker 1>And so I feel very fortunate to have had that, you know, that feeling and that opportunity of of just kind of you know giving me that, that freedom to be able to pursue.

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<v Speaker 1>You know my success and I think I went down a lot of different paths to ultimately find that, but for me, I think I definitely do think growing up with this feeling of you know limitlessness really has impacted my kind of feeling around and my understanding of what success is.

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<v Speaker 2>Love it.

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<v Speaker 2>You know, is there a Sarah Hardwick like ingredients list for success or a formula for success?

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<v Speaker 1>Yeah, giving a shit, yeah, giving a shit, Honestly.

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<v Speaker 3>I mean, you have to care about what you do and you have to actually, you know, believe.

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<v Speaker 1>So I think for me it's kind of working in my genius zone, doing what I love, turning down opportunities that aren't right for me, and really following my instincts around, really caring what I do and the types of work I do, the types of customers I take on, and making some of those hard decisions and really making sure that I really believe in this and if I don't really believe in it, no one else is.

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<v Speaker 1>So for me it's actually kind of that formula is really caring.

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<v Speaker 2>I love that way of looking at it.

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<v Speaker 2>One thing you said there that I want to delve into turning down opportunities.

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<v Speaker 2>Tell me more about that.

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<v Speaker 1>I mean, I'm actually you know, I've had that situation so many times as I've launched this new company, the Crowd, because my mission is to work with companies that are changing the world, and so I've had some companies that said hey, you know help me out, and you know I want to do this and this and that, but I've had to take a hard look at is this something that I really think is going to change the world?

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<v Speaker 1>You know, do I believe in this?

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<v Speaker 1>And you know I'm a scrappy startup and so I want to I, you know I, I need to, you know, bring in revenue, of course, but I've had to make some hard decisions where I know, you know, going down this path, you know, it's not necessarily it's may bring in revenue, but it's not necessarily going to be aligned with my meaning and purpose, and so those, I think, are some of the hardest things, because there's this natural pull between kind of wanting kind of, you know, wanting to have financial independence and freedom and so wanting kind of to take those revenue opportunities.

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<v Speaker 1>But also for me, like I want to spend time with my family, you know I want to, I want to also prioritize other things, and so I think there's always kind of this tug of war that we feel as entrepreneurs where we have to make these hard decisions, and I think you know that's kind of, you know there's.

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<v Speaker 1>It happens all the time and sometimes it's brutal, but for me, in the end it always works out and I always feel, you know, I'm always thankful and I always feel that that's the right decision.

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<v Speaker 1>But it's hard.

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<v Speaker 1>You really have to trust your instincts and sometimes it doesn't like make financial sense, um, but I always feel like there's something better that's right down, you know, down the line.

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<v Speaker 2>So when that situation happens, so the trusting your instincts thing, what's your way of knowing like cause a lot of people go?

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<v Speaker 2>You know you got to trust your gut.

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<v Speaker 2>But how do you do that?

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<v Speaker 2>How do you do you ponder on it?

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<v Speaker 2>Do you do it?

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<v Speaker 2>What's your methodology of saying, yep, that's the right way?

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<v Speaker 1>Yeah, well, I think you know, first creating space, and that's something that's really hard for me because I've got a million things going on.

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<v Speaker 1>I'm, you know, so I think you know meditating, I think you have to kind of have for me, I have to create a connection, you know, with my more spiritual side, and that's where I kind of feel like intuitively, you know, and it's like it is that feeling in your gut.

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<v Speaker 1>But for me, when I'm overwhelmed with lots of busy work and all these things and I just haven't given myself like some time to really, you know, create that space to look into my heart and soul and think about you know what, what that looks like, I think it's more challenging.

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<v Speaker 1>And so for me, I think it's, yes, it isn't, you know, connecting and you know mulling it over and pondering it, but it's first, it's like creating that space.

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<v Speaker 1>It isn't just like a, you know, a binary, it's really creating the space to kind of have open free thinking and open for a little bit to kind of let the intuition be better.

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<v Speaker 2>So, if you look back, you've not had only successes.

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<v Speaker 2>You've had mistakes and failures and corrections along the way.

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<v Speaker 2>What's your theory on the relationship between success and failure?

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<v Speaker 1>Yeah Well, the first thing that came to my mind when I was kind of thinking about this question was one of my favorite quotes by Khalil Gibran it's the more sorrow carves out of your heart, the more room there is for joy.

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<v Speaker 1>And so I feel like when you experience these failures, you know the hardest step I've ever gone through.

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<v Speaker 1>It makes the success and the feeling of success even greater and even more powerful.

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<v Speaker 1>And so for me, like until you really go through it, you kind of don't know what you're capable of.

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<v Speaker 1>And I think you know it really teaches you to appreciate, you know those highs and those moments.

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<v Speaker 1>And it also, you know, kind of gives you that feeling of resiliency and confidence to take risks, because you know you're strong enough to get through whatever that is.

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<v Speaker 1>So for me it's like that you know the harder it is to figure the failure, the more amazing and powerful that joy can be.

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<v Speaker 2>I want to discuss that for a little bit, because I've never really thought of it that way that when you have the failures, it gives you the confidence to take risks.

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<v Speaker 2>Teach me more about that.

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<v Speaker 2>I love that philosophy.

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<v Speaker 1>Yeah, I mean I'll just give you.

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<v Speaker 1>I mean I have a million examples of this but I can just, you know, one random example is I can remember when one time I, you know, was kind of first starting off in my career and I had this chance to give a speech in front of 500 CEOs, and here was my big chance, and I was so nervous and you know, going up there and I got out there and I had I thought to myself I'm going to tell a joke because I'll just lighten it up.

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<v Speaker 1>Well, I actually told the punchline of the joke before the actual joke, because I was so nervous and you know.

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<v Speaker 1>So I went out there and I just froze and I stood there and I looked at the audience and they looked at me and they were all kind of confused and you know, so I think it's like for me I got through that and I laughed it off and I kind of, you know I, you know I made it work and and then I'm not afraid to go up and give big talks, and I know that like, if I screw up or mess up or things happen, you know I can still be powerful and I can still, you know, kind of keep the audience and still be successful.

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<v Speaker 1>So that's just a small example, but I think you know, if you didn't go out there, you know, then you would never know what you're capable of.

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<v Speaker 1>So for me now I know that even if I fail, it's not the end of the world.

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<v Speaker 1>And I can remember my dad.

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<v Speaker 1>I can remember telling my dad dad, you'll never believe what I did, oh my gosh.

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<v Speaker 1>And he said Sarah, it's just a blip.

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<v Speaker 1>He said you're going to look back at this and it's just going to be a little blip.

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<v Speaker 1>And you know what?

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<v Speaker 1>He was right.

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<v Speaker 1>I don't even remember that.

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<v Speaker 1>And so I think, when you start to look at failure like that, oh, it's just a little blip, and I now I'll do it, I could do anything.

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<v Speaker 1>And I know that, even if I'm not successful, you know, I still am a success.

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<v Speaker 2>I love that.

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<v Speaker 2>You know, when I started Action Coach, there was no such thing as a business coaching company.

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<v Speaker 2>When you took Zenzy down the road of values driven marketing no such thing.

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<v Speaker 2>You weren't just creating a business, you were creating an entire profession, an entire industry.

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<v Speaker 2>What do you think it is that you've got to focus on when you're creating something that no one really understands or knows about?

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<v Speaker 1>Yeah, and that's hard and that's where it's a lot of, I think, branding positioning.

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<v Speaker 1>I think it's really doing a lot of your research and so for me I needed to understand what do people think about values?

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<v Speaker 1>And I realized they don't know what values are.

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<v Speaker 1>You know they think values, they think family values or political values, and so I think number one, it's really doing the research and thinking about when you're creating something new what is?

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<v Speaker 1>you know, what do people think?

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<v Speaker 1>What do people know?

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<v Speaker 1>What is their, what is that education level?

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<v Speaker 1>And then it's really crafting your message and your positioning around what that value proposition is.

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<v Speaker 1>So for me I had to say okay, you heard of demographics.

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<v Speaker 1>Well, these are psychographics, and psychographics are values.

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<v Speaker 1>And then you have to say, oh, but we all were used to, as marketers, targeting people based on their age and their income.

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<v Speaker 1>But have you ever thought about targeting purpose seekers or freedom seekers?

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<v Speaker 1>We're not all the same.

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<v Speaker 1>And so for me it's really about kind of doing the research initially to understand, and not just kind of throw it all out there and see what sticks and then doubling down on it.

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<v Speaker 1>So message, strong, powerful, consistent message, you know, and not deviating from that.

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<v Speaker 1>And so for me that was really kind of an important strategy in bringing that education to the clients and to the world, to the marketing world.

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<v Speaker 2>Yeah, you know.

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<v Speaker 2>For us I'll use our company's example with Action Coach Well, we've had a vision, a mission and our 14 points of culture and lived by it very strong.

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<v Speaker 2>We've recruited to it, We've done all it.

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<v Speaker 2>How else does values become a part of your brand or your market or your marketing out there in the marketplace?

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<v Speaker 1>Yeah, well, I think, if you think about it like the 80-20 rule, you know the customers that are going to be the most passionate about your company, who will be your raving fans, who will be your advocates, your ambassadors.

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<v Speaker 1>They're going to be the ones who are most aligned with your values.

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<v Speaker 1>So, about your website, you know, first off, what are your company values and so, and are they articulated clearly on your website?

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<v Speaker 1>Are you telling stories about your value?

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<v Speaker 1>You know if your value has a key values according to your core values is freedom.

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<v Speaker 1>Are you out there talking about calling all trailblazers, calling all risk takers, calling all mavericks?

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<v Speaker 1>And so the thing about values is they're polarizing, and so what is going to attract one customer is going to turn off the other.

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<v Speaker 1>And so when you think about who is that ideal top customer, using messaging and words and images that are going to appeal to that customer based on their values, even if it's polarizing, is how you kind of bring that to market so you can't be afraid to turn people off.

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<v Speaker 1>You really have to double down on that ideal profile and really focus in on kind of bringing those values to life across your whole company.

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<v Speaker 2>Yeah, when I started doing some reading and studying of all your work, it really intrigued me that it's almost like niching based on the values or niching based on the as you use it the psychographics.

00:16:54.335 --> 00:17:05.535
<v Speaker 2>Is that something that people are used to yet even, or is it still something people are learning to be the new way or the new thinking, even though you've been doing it for 20, 30, 20 something years?

00:17:05.595 --> 00:17:07.020
<v Speaker 1>Yeah, yeah, there's.

00:17:07.020 --> 00:17:08.565
<v Speaker 1>I think they're still getting there.

00:17:08.565 --> 00:17:13.074
<v Speaker 1>I think that the idea of values is seems a little fluffy to some people.

00:17:13.074 --> 00:17:17.131
<v Speaker 1>The truth is there's 40 years of psychology backing this up.

00:17:17.131 --> 00:17:46.191
<v Speaker 1>Three quarters of our decision making is based on emotional factors, not rational factors, and so I think you know, kind of telling, talking about some of the statistics and things like that definitely helps, but I think the biggest way to show people that this works is actually implementing it in campaigns and so building a tribe around values, building a community, building a you know a network, building a fan base, nurturing you know a group of people who are, you know, your supporters who share those values.

00:17:46.191 --> 00:17:50.489
<v Speaker 1>I think that's really the best way to kind of say hey, you know, does this work?

00:17:50.489 --> 00:17:51.751
<v Speaker 1>Well, let me give you some examples.

00:17:51.751 --> 00:18:03.432
<v Speaker 1>And so that's where I bring this, you know, these approach and this theory to all of the different companies that I work with, and that's really how I think you show what the power is of that values-based approach.

00:18:03.559 --> 00:18:07.590
<v Speaker 2>I'd love it, sarah, if you could give us a concrete example of people can sort of hang the hat on.

00:18:07.590 --> 00:18:08.781
<v Speaker 2>Oh, that makes sense.

00:18:08.781 --> 00:18:11.326
<v Speaker 2>I people can sort of hang the hat on and go oh that makes sense.

00:18:11.366 --> 00:18:12.087
<v Speaker 1>I now see how that works.

00:18:12.087 --> 00:18:12.950
<v Speaker 1>Sure, I'll give you an example.

00:18:12.950 --> 00:18:13.631
<v Speaker 1>So I sold my.

00:18:13.631 --> 00:18:40.289
<v Speaker 1>After I sold my agency, zenzi, I came on board as the chief marketing officer of Aptera Motors, and they're a company, they were just a startup and at the time we it was right after COVID, and you know we were looking to raise money and we you know it was very hard, you know climate financially was very hard to raise money at the time, and so we started a crowdfunding campaign and I think our goal was to raise like $200,000 or something.

00:18:40.289 --> 00:18:43.823
<v Speaker 1>And we ended up raising, you know, just initially, over 5 million.

00:18:43.823 --> 00:18:49.564
<v Speaker 1>And then we went on over the next three years to raise, you know, over $140 million through crowdfunding.

00:18:50.025 --> 00:18:55.567
<v Speaker 1>And the way that I did that was number one, uncovering the values of the community.

00:18:55.567 --> 00:18:58.258
<v Speaker 1>So I knew we had something magic right.

00:18:58.258 --> 00:18:59.280
<v Speaker 1>I knew that there was something.

00:18:59.280 --> 00:19:01.907
<v Speaker 1>You know, how would we overshoot our goal?

00:19:01.907 --> 00:19:05.684
<v Speaker 1>You know so much like what is this passionate and driving base behind us?

00:19:05.684 --> 00:19:08.009
<v Speaker 1>And I had to uncover the values.

00:19:08.009 --> 00:19:19.584
<v Speaker 1>And so, you know, I thought, well, hey, it's an EV company, it's probably about the environment and it's about purpose and it's about giving back and saving the planet.

00:19:19.604 --> 00:19:30.096
<v Speaker 1>But what I didn't realize and what we kind of uncovered was there's also this kind of this persona that's all about freedom and disrupting and first to market and early adopters.

00:19:30.096 --> 00:19:34.204
<v Speaker 1>Disrupting and first to market and then early adopters.

00:19:34.204 --> 00:19:41.269
<v Speaker 1>And so, with those insights, I was able to craft messages and really speak to these two groups and build this community around what they really cared about and using those values insights.

00:19:41.269 --> 00:19:57.160
<v Speaker 1>So we built an ambassador program and we had 800 ambassadors all across the world and these people they are from, you know, from high schoolers all the way up to, you know, centenarians, people who are 100 years old, and they didn't have common demographics.

00:19:57.160 --> 00:20:21.780
<v Speaker 1>They all had a shared set of values and so, by uncovering and tapping into those values and then speaking to those, building a community around that, that's how we were able to, you know, create $1.5 billion of orders and 19,000 investors and raise $140 million, because we really focused in on that idea of values-based marketing.

00:20:22.363 --> 00:20:23.685
<v Speaker 2>Well, hey there and thanks for listening.

00:20:23.685 --> 00:20:28.847
<v Speaker 2>I've noticed that 78% of you are brand new, which means you haven't hit the subscribe button yet.

00:20:28.847 --> 00:20:36.130
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00:20:36.130 --> 00:20:38.208
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00:20:38.208 --> 00:20:39.405
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00:20:39.405 --> 00:20:40.906
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00:20:46.930 --> 00:20:48.464
<v Speaker 2>Love it, I love it.

00:20:48.464 --> 00:20:58.482
<v Speaker 2>Now I'm going to get to the crowdfunding stuff in a minute, because I think that's really, really interesting, but I want to start with the brand ambassadors 800 brand ambassadors.

00:20:58.482 --> 00:21:05.064
<v Speaker 2>Take me back to how did the idea happen and what are the main keys to execution.

00:21:05.124 --> 00:21:12.108
<v Speaker 1>I guess oh gosh, okay, Well, so yeah, it's a big subject I know, yeah, I know, and it's actually, you know it's.

00:21:12.430 --> 00:21:19.560
<v Speaker 1>It's funny because it's one of those things where it wasn't like I, you know, as part of my strategic plan, necessarily as much as it was just by necessity.

00:21:19.560 --> 00:21:27.730
<v Speaker 1>And so, you know, when I started there, I was the only marketing person and I was answering all of the info at you know emails and all of all of those emails.

00:21:27.730 --> 00:21:46.541
<v Speaker 1>And it started to get overwhelming as the movement started to grow, and so I just put out an email and I thought, well, there's got to be some people who might want to help out, you know, and help, because I'm just so busy and I'm only one person and someone's got to, you know, help, and we're getting here thousands of comments on social media and I just started to feel overwhelmed.

00:21:46.541 --> 00:21:59.451
<v Speaker 1>So I put out an email and said hey, if anyone's interested in being an ambassador for the brand let me know and at that point I thought maybe I'd get a handful of people and I immediately started to get hundreds of emails back.

00:21:59.779 --> 00:22:05.813
<v Speaker 1>So I thought, oh my gosh, you know, I have to make, you know, I have to figure out how to systematize this.

00:22:05.813 --> 00:22:12.311
<v Speaker 1>So I created an application, you know, where they could say why they wanted to be an ambassador and what were their superpowers.

00:22:12.311 --> 00:22:16.902
<v Speaker 1>Oh, some wanted to help with lobbying and legislation and talk to their congressmen.

00:22:16.902 --> 00:22:22.301
<v Speaker 1>Some wanted to go to EV events and, you know, represent the brand there, hand out stickers.

00:22:22.301 --> 00:22:29.182
<v Speaker 1>Some wanted to be on social media and in fact, one decided they said, well, why aren't we on Reddit?

00:22:29.182 --> 00:22:33.413
<v Speaker 1>And I said I don't have the time to, you know, moderate a Reddit channel.

00:22:33.413 --> 00:22:35.708
<v Speaker 1>And he said, cool, well, I'll do that.

00:22:35.708 --> 00:22:43.874
<v Speaker 1>And so what I ended up doing is thinking about, you know, what were the key, what are the key initiatives happening in marketing and around the company, where I needed support.

00:22:43.874 --> 00:22:54.867
<v Speaker 1>And then I mobilized these ambassadors behind these key initiatives so communications and marketing, grassroots advocacy, legislation, events and really mobilize them behind that.

00:22:55.160 --> 00:22:57.969
<v Speaker 1>And then it's nice, because then it kind of just starts.

00:22:57.969 --> 00:23:01.204
<v Speaker 1>It has a life of its own, and so then.

00:23:01.204 --> 00:23:02.608
<v Speaker 1>And so what's cool about this is.

00:23:02.608 --> 00:23:04.948
<v Speaker 1>These are volunteers, right.

00:23:04.948 --> 00:23:06.686
<v Speaker 1>These are just people who care about your brand.

00:23:06.686 --> 00:23:09.444
<v Speaker 1>So you have to really think about what are they gonna get out of it.

00:23:09.444 --> 00:23:20.490
<v Speaker 1>So for these ambassadors, we started to do these quarterly webinars and they got to ask our CEOs questions and they got first access and early access to information.

00:23:20.490 --> 00:23:27.432
<v Speaker 1>They got to see cool behind the scenes images and for them, that was everything being able to be on the inside.

00:23:27.432 --> 00:23:42.042
<v Speaker 1>We gave them business cards that said ambassador and that was like their favorite thing you know here, and so it was really just this idea of being on the inside and being exclusive, and so that's kind of how it all started to take, take life, and then it just it grew, grew from there.

00:23:42.463 --> 00:23:44.448
<v Speaker 2>Yeah, so what I assume?

00:23:44.448 --> 00:23:49.951
<v Speaker 2>Then you have to build tools and give them things to make it easier for them to do the job.

00:23:50.894 --> 00:23:56.670
<v Speaker 1>That's right, yeah, so you kind of figure out where you want your community to live and where, and then you give them.

00:23:56.670 --> 00:23:59.345
<v Speaker 1>For example, you know, here's an email.

00:23:59.345 --> 00:24:04.321
<v Speaker 1>If you know any reporters or editors, here's a draft email pitch you can send out.

00:24:04.321 --> 00:24:15.949
<v Speaker 1>Here's a social media post, here are images, and you know, so you would create kind of almost like a library like of content and assets and things like that that they can actually share.

00:24:15.949 --> 00:24:23.525
<v Speaker 1>And then when you have big announcements and things that come out, you give them a heads up in advance and then you give them exactly what you want them to share.

00:24:23.525 --> 00:24:28.304
<v Speaker 1>So then you've got 800 people out there, you know, commenting, we also.

00:24:28.964 --> 00:24:44.086
<v Speaker 1>I think one thing is that it's like the transparency, and so we gave them, we put together an FAQ for them where, when they're out there on, you know, facebook or Instagram or wherever they are Reddit, and they see someone has a question and it's either it hasn't been answered or they know it was, you know, incorrect.

00:24:44.086 --> 00:24:48.508
<v Speaker 1>They could go to the FAQ, find the right answer and they would comment back.

00:24:48.508 --> 00:24:56.912
<v Speaker 1>And so what started to happen was, you know, before I even got a chance to go or my team even had a chance to go and try to respond back someone else.

00:24:57.019 --> 00:25:24.269
<v Speaker 1>An ambassador had already done that, and so you have to give them the tool set and give them the information and plan it out in advance, and then eventually we had like an ambassador program manager when the program gets so big, you know, then you do maybe have to have a person who can kind of manage it, because they've all got ideas and you want to be able to take those ideas, and some of those ideas are the best that we ever came up with, and so you have to have someone to kind of listen and it really is like a nurturing process.

00:25:24.269 --> 00:25:27.709
<v Speaker 1>So there is a lot that goes into it.

00:25:27.709 --> 00:25:33.779
<v Speaker 1>But the return for us I mean it's the reason why you know the company was so successful was having this network.

00:25:33.779 --> 00:25:38.031
<v Speaker 1>It's the heart and soul, and I think that's what a lot of people times, people forget.

00:25:39.221 --> 00:25:47.970
<v Speaker 2>I think it's sort of a natural progression values, raving fans, ambassadors, it's like that, that natural progression that you built.

00:25:47.970 --> 00:25:58.308
<v Speaker 2>Also, I think it was, like you said, 1900 people invested through the crowdfunding there and 19 000 19 000 dang.

00:25:58.348 --> 00:26:01.675
<v Speaker 2>So 19 000 people, 140 million.

00:26:01.675 --> 00:26:08.299
<v Speaker 2>All right, let's take it to the beginning of the crowdfunding thing, because I know that's a big part of what you do today with crowd.

00:26:08.299 --> 00:26:10.328
<v Speaker 2>Where did where?

00:26:10.328 --> 00:26:14.862
<v Speaker 2>Where did you start the idea to do crowdfunding and how did it get its origins?

00:26:14.862 --> 00:26:16.723
<v Speaker 2>I guess for a, for a car company.

00:26:17.525 --> 00:26:18.526
<v Speaker 1>Yeah, I mean well.

00:26:18.526 --> 00:26:20.586
<v Speaker 1>So I think first off, just there.

00:26:20.586 --> 00:26:23.729
<v Speaker 1>I think people, when you think of crowdfunding, there's a lot of different types of crowdfunding.

00:26:23.729 --> 00:26:26.171
<v Speaker 1>So a lot of times people think like Kickstarter.

00:26:26.171 --> 00:26:37.218
<v Speaker 1>So there's rewards based crowdfunding like Kickstarter, where you're actually producing a product right where you give them, you know they're investing and they're getting XYZ product that you're producing for them.

00:26:37.218 --> 00:26:45.803
<v Speaker 1>Then there's equity based crowdfunding, and so that's when you're actually giving shares in your company in exchange for investment.

00:26:45.803 --> 00:26:59.396
<v Speaker 1>So in this case, you're really making a promise or and kind of setting the landscape of the future vision of the company and creating a reason for people to believe so in the past.

00:26:59.416 --> 00:27:00.861
<v Speaker 1>So this is a relatively equity crowdfunding is relatively new.

00:27:00.861 --> 00:27:02.384
<v Speaker 1>In the past, this is a relatively equity crowdfunding is relatively new.

00:27:02.384 --> 00:27:08.494
<v Speaker 1>In the past, really, only VCs and private equity firms and accredited investors really could become owners of companies in this way.

00:27:08.494 --> 00:27:16.017
<v Speaker 1>And so over the past 10 years, the landscape has changed and, with new rules and regulations, now anyone can have a voice.

00:27:16.017 --> 00:27:22.157
<v Speaker 1>So you or me or anyone who wants to say I believe in this company can actually invest.

00:27:22.157 --> 00:27:25.714
<v Speaker 1>You know, you could invest 500 bucks, you can invest 500,000.

00:27:26.224 --> 00:27:32.038
<v Speaker 1>But what it does is it allows the community to have a say in what comes to market.

00:27:32.038 --> 00:27:46.926
<v Speaker 1>So no longer do you have to be beholden or do you have to kind of wait and hope and pray that you get this funding that's going to come in from the kind of big firms you can say, hey, I believe in this so much and I have a raving fan base, we're just going to do this ourselves.

00:27:46.926 --> 00:27:55.675
<v Speaker 1>And so that was kind of how it happened with Aptero, where in the beginning, with you know, it was just hard to get that money just because of the timing with COVID and so.

00:27:55.675 --> 00:27:57.287
<v Speaker 1>So that was kind of how it emerged at least.

00:27:57.287 --> 00:28:02.596
<v Speaker 1>And then I can tell you a little more about kind of how it emerged at least, and then I can tell you a little more about kind of the path from there.

00:28:03.277 --> 00:28:11.289
<v Speaker 2>Yeah, I'd love to know what are sort of the core success factors of a crowdfunding campaign, like what makes it a success.

00:28:12.251 --> 00:28:18.212
<v Speaker 1>Yeah, well, so number one, it's the community, and so that's kind of where we're talking about you.

00:28:18.212 --> 00:28:22.119
<v Speaker 1>If you don't have an engaged community, if people don't care and this kind of goes back to the success, right.

00:28:22.119 --> 00:28:24.165
<v Speaker 1>If they don't care, if you don't have an engaged community, if people don't care and this kind of goes back to the success, right.

00:28:24.165 --> 00:28:32.421
<v Speaker 1>If they don't care, if you don't care and they don't care, they're not gonna want to be a part of your company, because you're basically giving them a chance to own, be an owner of your company.

00:28:32.863 --> 00:28:40.611
<v Speaker 1>And so a lot of times in you know, companies that have been coming on, you know, or that I've been talking to, they don't have a community yet.

00:28:40.611 --> 00:28:51.435
<v Speaker 1>And I think that makes it a little bit harder, because you really do need to have a community or at least have kind of the startings of this passionate group to be able to nurture that and get that to grow.

00:28:51.435 --> 00:29:01.294
<v Speaker 1>So I think number one, a strong community that's aligned with values is really important in cultivating that community where they really share your vision and empowering them.

00:29:01.294 --> 00:29:07.816
<v Speaker 1>And then I think number two, most important thing, successful is just the transparency.

00:29:07.816 --> 00:29:17.130
<v Speaker 1>And so, especially in a startup, we're going to go through ups and downs and it's hard because part of you doesn't want to tell everyone everything, right you?

00:29:17.190 --> 00:29:18.974
<v Speaker 1>only want to tell them the good things that are happening.

00:29:19.224 --> 00:29:47.160
<v Speaker 1>And when you are managing a crowdfunding campaign, it's a journey and you're bringing them along on this journey, and part of the journey is a transparency that there are ups and downs, and so you know if they're you know oh gosh, we had to hold up on this or we're doing this, and so I think part of it is really being open and being you know, being honest and accessible and just you know sharing the good and the bad with your community, and I think that really builds a level of trust.

00:29:47.539 --> 00:30:02.694
<v Speaker 1>And I think then you'll see people who come and invest a little bit and they'll watch your journey and maybe it didn't progress as quickly as you thought it would be, but they know that they've seen what you've been doing and they see the work, how hard you've been working and you've been direct with them, and they'll reinvest and maybe invest more.

00:30:03.076 --> 00:30:07.950
<v Speaker 1>So I think that kind of authentic storytelling and that transparency is like a good number two.

00:30:07.950 --> 00:30:15.567
<v Speaker 1>And then number three is you got to leverage all the data and optimize your ad spend and your targeting.

00:30:15.567 --> 00:30:27.060
<v Speaker 1>So for Aptera, for example, we raised $140 million and we spent probably an average of, I'd say 5% on advertising to raise that.

00:30:27.060 --> 00:30:30.050
<v Speaker 1>But you have to really double down.

00:30:30.050 --> 00:30:38.928
<v Speaker 1>You have to really target based on values, you have to monitor every channel, you have to insist on tracking those conversions and so you know it is.

00:30:38.928 --> 00:30:51.618
<v Speaker 1>You can definitely drive predictable equity crowdfunding investment through advertising and I think it's really using all the data at your disposal and really creating very targeted ad campaigns to help to support that.

00:30:51.618 --> 00:30:53.573
<v Speaker 1>So that's another key ingredient as well.

00:30:54.464 --> 00:30:54.664
<v Speaker 2>Got it.

00:30:54.664 --> 00:31:16.150
<v Speaker 2>You know, I one time watched a bunch of different crowdfunding videos and I thought a bunch of different crowdfunding videos and I thought some people put almost no effort into the video that goes with their crowdfunding and some people put a ton of effort into it and do great, and yet I saw some with almost no effort raising a lot of money and some with a ton of effort not raising a lot of money.

00:31:16.150 --> 00:31:23.950
<v Speaker 2>Is there a correlation between the marketing pieces and the success, or do you think it's more the values that seem to do that?

00:31:24.752 --> 00:31:25.615
<v Speaker 1>I mean, I think, both.

00:31:25.615 --> 00:31:32.075
<v Speaker 1>I think you have to have values, alignment first and foremost, and if you don't have that there's, you know you don't have a community.

00:31:32.075 --> 00:31:39.926
<v Speaker 1>And then I think it is, you know, mobilizing your community, putting the gas on the marketing, you know, really focusing in on that.

00:31:39.926 --> 00:31:41.589
<v Speaker 1>So I do think that you have to have both.

00:31:41.589 --> 00:31:52.349
<v Speaker 1>And I think when you see those kinds of campaigns, it's like the one that's kind of taking off with, you know, without so much work, probably has a very passionate base of community behind it that's really supporting it and driving it.

00:31:52.349 --> 00:31:57.349
<v Speaker 1>And you know, maybe others not so much, or they're still trying to build their community, you know, as they're growing.

00:31:57.349 --> 00:32:02.136
<v Speaker 1>And I think you know using crowdfunding to test whether a product's going to work or not.

00:32:02.136 --> 00:32:04.319
<v Speaker 1>You know that can be sometimes that can be tough.

00:32:04.404 --> 00:32:14.641
<v Speaker 1>So I think you really kind of have to have done your homework know your audience know the values, start to build the community and then jump into a crowdfunding campaign in order to really ensure the success.

00:32:14.984 --> 00:32:15.165
<v Speaker 2>Dang.

00:32:15.165 --> 00:32:17.684
<v Speaker 2>I could spend days chatting about this one, sarah.

00:32:17.684 --> 00:32:20.188
<v Speaker 2>Let me dive to my final question.

00:32:20.188 --> 00:32:25.654
<v Speaker 2>I always ask what's the best advice or best quote that you ever got on the subject of success?

00:32:26.496 --> 00:32:36.728
<v Speaker 1>Yeah, so I love this quote from Zig Ziglar If you can give enough people what they want, you can have everything you want.

00:32:36.728 --> 00:32:42.159
<v Speaker 1>So that's one of my favorites because I think for me it's understanding what do people really want and then being able to give them what you know.

00:32:44.430 --> 00:32:44.892
<v Speaker 2>I love it.

00:32:44.892 --> 00:32:52.634
<v Speaker 2>I remember I got to share the stage with Zig 20-something years ago back in Sydney, australia, and the guy is an absolute legend.

00:32:52.634 --> 00:32:53.730
<v Speaker 2>I love that quote too.

00:32:53.730 --> 00:32:56.011
<v Speaker 2>Sarah Hardwick, thank you so much for your time.

00:32:56.011 --> 00:32:58.192
<v Speaker 2>Hey, this is the Big Success Podcast.

00:32:58.192 --> 00:33:01.657
<v Speaker 2>Hit the show notes, follow, study, learn everything Sarah teaches.

00:33:01.657 --> 00:33:05.031
<v Speaker 2>You got it here and we'll be back next week with more of your success.

00:33:06.958 --> 00:33:12.597
<v Speaker 3>You've been listening to the Big Success Podcast with the number one business coach in the world, Brad Sugars.

00:33:12.597 --> 00:33:22.133
<v Speaker 3>To learn more about how to achieve business and personal success, as well as how to level up or listen to past episodes, visit wwwbradsugarscom.