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Shark Tank and Internet Marketing

by Mukul Verma
23 replies
Hey Warriors,

I am watching last nights episode of Shark Tank and the first pitch is something we can relate to the rest of the world does not get!!!

Watch The Shark Tank Serie Online - Watch Series

WATCH IT BEFORE READING ON SO WE CAN DISCUSS

It was very interesting to see the response, especially from Kevin and value on getting a customer vs getting customers online.

Cheers,
Mukul
#internet #marketing #shark #tank
  • Profile picture of the author Mukul Verma
    Just finished watching it, the last one was good pitch for a mobile app model
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  • Profile picture of the author InternetSuccess001
    It was an interesting episode...

    1. I do agree with Kevin - there still is a "cost" to aquiring a customer, and the individual was incorrect. The cost is time/money/expertise, etc to get ranked "first" in google. So for him to build the pages, do the SEO, etc. So if he was salaried at say $5k/month, and assuming the 35k was net (it wasn't, but just for illustration), then over 4 months his cost to aquire the customers was 20k... If he sold each item for $600, = 58 customers, = $344 to aquire a new customer...

    So there "is" actually a real cost to aquiring the customer.

    2. SEO is a bit of 'magic'. Just because he is there now -- doesn't mean he will 'stay' there. Also, it looks like he's had the domain for at least 2-3 years, not the 4 months he was talking about...

    Johnathan
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    • Profile picture of the author fluffythewondercat
      Keep in mind these episodes are taped long before you see them.

      I was interested in the stand up paddle board as well -- my trainer is obsessed with hers. Mr. Wonderful was right, as always, about the real cost of acquiring a customer. If the nerd thinks being ranked in Google means customers convert free of charge, he's not much of a businessman. With margins like his he should be using remarketing to boost his conversion rate.

      The point about the product not being proprietary was a good one as well. I still don't understand the difference between the $300 stand up paddle boards they sell at Costco and this guy's $600 board. He should have made that point. Instead he got cocky about how great he is at SEO and what a rare talent (I laughed out loud) that is.

      fLufF
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  • Profile picture of the author Lori Kelly
    I watch Shark Tank every Friday night. fLufF - I laughed too when the guy talked about SEO being a rare talent - I thought about this forum.

    I didn't understand why the guy with the music app needed investors. Sure seemed like a publicity stunt.
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    • Profile picture of the author Mukul Verma
      Originally Posted by Lori Kelly View Post

      I watch Shark Tank every Friday night. fLufF - I laughed too when the guy talked about SEO being a rare talent - I thought about this forum.

      I didn't understand why the guy with the music app needed investors. Sure seemed like a publicity stunt.
      I agree - national TV can boast sales. I wanted him to answer Daemon Questions, but they cut away. I think the concept simple, but can make lots of money.

      Interesting, when he talked on customer value, I guess I could relate. I dont do services, but I often find people who do, dont get same results as working on there own baby. You cant buy that. Just me thought, but now you guys are making me think different.
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      • Profile picture of the author Kay King
        I didn't understand why the guy with the music app needed investors.
        Exposure - connections. In the end he did not cave to using the previous valuation and the compromise buried the previous lower value. Very smart guy. It wasn't about money with him - it was leverage and he got it.
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      • Profile picture of the author fluffythewondercat
        I didn't understand why the guy with the music app needed investors. Sure seemed like a publicity stunt.

        The Miso Media guy didn't tell the whole story.

        In addition to the $100k they got from Google, they've raised $3 million in two rounds of financing. They need this money (and more) because producing tabulatures for the music they're selling is time-consuming, plus they have to pay licensing fees for the music.

        I wouldn't have given them any money because I don't like this business model. Here's why: When you build a music business, the lion's share of the revenue goes to the entities that own the rights.

        Take iTunes, for example. Apple's margin is very slim -- they make something like 4 to 5 cents for every song sold. It works because of volume. Apple can push millions of downloads.

        But a startup can't do that. A startup has a huge barrier to overcome. It has to gain brand recognition (not a problem for Apple), it has to market the product and create demand. This is going to cost even more money, probably far more than they expect.

        Miso Media is in a very tough place right now. I'm glad I'm not them.

        fLufF
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        • Profile picture of the author DWolfe
          I wonder what the screening process is to get on the Show. It seems one or two people are just on the show to get national exposure and not deal with the Sharks.
          A guy was on two weeks ago had a business that made a nice profit and the sharks wanted it. Instead he wanted to sell intellectual property for some other new product he designed. He did not make a deal with the sharks and thought he won. I know his ego got in the way but wonder if he was also just looking for national exposure instead.
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          • Profile picture of the author fluffythewondercat
            Originally Posted by DWolfe View Post

            I wonder what the screening process is to get on the Show.
            Here's how to get on the show:

            ABC.com - Shark Tank - ABC.com - [SHOW_NAME] - Casting

            Wouldn't it be great if a Warrior made it on?

            fLufF
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          • Profile picture of the author Mukul Verma
            Originally Posted by DWolfe View Post

            I wonder what the screening process is to get on the Show. It seems one or two people are just on the show to get national exposure and not deal with the Sharks.
            A guy was on two weeks ago had a business that made a nice profit and the sharks wanted it. Instead he wanted to sell intellectual property for some other new product he designed. He did not make a deal with the sharks and thought he won. I know his ego got in the way but wonder if he was also just looking for national exposure instead.
            A warrior was on the Canadian Version (Dragon Den), the name and product I dont recall right now.

            When the look at products/pitches, there is a entertainment value as well. They likely look at the person, product and bring in sometimes comic relieves on the show.

            I saw Brett Wilson from the Canadian version live and he shared what peeved him as that it was a 20 something year old jounrnalist who edits these to make it more for entertainment and lose the point that was happening. Sometimes they will pitch for an hour and show it in 7 minutes completely out of context...whatever sells.

            Cheers,
            Mukul
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            • Profile picture of the author JMB Marketing Group
              Originally Posted by Mukul Verma View Post

              A warrior was on the Canadian Version (Dragon Den), the name and product I dont recall right now.

              When the look at products/pitches, there is a entertainment value as well. They likely look at the person, product and bring in sometimes comic relieves on the show.

              I saw Brett Wilson from the Canadian version live and he shared what peeved him as that it was a 20 something year old jounrnalist who edits these to make it more for entertainment and lose the point that was happening. Sometimes they will pitch for an hour and show it in 7 minutes completely out of context...whatever sells.

              Cheers,
              Mukul
              Hi Mukul,

              Yes, I remember reading that thread. It was two years ago. The Warrior was Melody.

              Her and her company turned down a $1 million dollar deal as they were offering a 5% stake in their company. However, the Dragons (she actually got all 5 of them on board) wanted 40% of her company, so her company said no.

              Here's the thread on her / company's debut on Dragons' Den.

              Enjoy:

              http://www.warriorforum.com/main-int...agons-den.html

              Onwards and Upwards,

              JMB

              P.S. I faithfully watch BOTH Dragons' Den and Shark Tank.

              What's interesting about the shows (or better yet, my business knowledge) is that I see ways to make a lot of deals WORK for struggling entrepreneurs that they (the Den and Shark investors) don't know or, perhaps, rather don't seem to reveal on the show. Interesting, eh?
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    • Profile picture of the author Paul Gram
      Originally Posted by Lori Kelly View Post

      I watch Shark Tank every Friday night. fLufF - I laughed too when the guy talked about SEO being a rare talent - I thought about this forum.

      I didn't understand why the guy with the music app needed investors. Sure seemed like a publicity stunt.
      Love that show. Even though the guy was not very good, I actually agree that SEO is a pretty rare talent. There are many fakers but VERY few good SEO'ers out there.
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    • Profile picture of the author Silas Hart
      Originally Posted by Lori Kelly View Post

      I watch Shark Tank every Friday night. fLufF - I laughed too when the guy talked about SEO being a rare talent - I thought about this forum.

      I didn't understand why the guy with the music app needed investors. Sure seemed like a publicity stunt.
      You would surprised at how hard it is to find a quality and skilled SEO firm that can offer any kind of guarantee, especially on a large level. Even huge companies are relying on small firms that have to substitute skill and hard work with black hat techniques.

      JC Penny
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  • Profile picture of the author LilBlackDress
    I just started watching that show and love it. I actually dreamed that the lady in the red dress and blonde hair (real estate agent whose name eludes me right now) was evaluating my product.

    Not sure what my product was but happily she liked it
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  • Profile picture of the author LilBlackDress
    Originally Posted by Young And Opulent View Post

    Shark Tank does a good job of exposing how little most Internet Marketers know about business. Let the wannabes a.k.a. Internet Marketers stick to their usual online thing, and let real businessmen and woman present their ideas to the Sharks.
    Who knows what you are trying to say here.

    A lot of Internet Marketers are solid businessmen and women. And a lot of people presenting their ideas to the sharks are clueless.
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  • Profile picture of the author Jeff Schuman
    This is one of my favorite shows on t.v right now. I thought his point about having 3 of the top 4 spots was good. Mark Cuban understood the value of being in business with a guy who understood SEO.

    Years ago Willie Crawford talked about having enough websites or keyword specific pages to dominate all 10 spots on Google for an important phrase. None of us do a very good job of that, but I have had 4 out of 10 spots several times with various sites.
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    • Profile picture of the author fluffythewondercat
      I actually agree that SEO is a pretty rare talent.

      Well, that "rare talent" must have fizzled, 'cause his site isn't even on the first OR second page of serps for the phrase:

      stand up paddle board

      The Shark Tank episode is, though.

      stand up paddle board - Google Search

      Note how Google helpfully shows you five stores where you can buy a SU paddle board. One is REI, which is also the top result.

      The Tower Stand Up Paddle Board guy is just another SEO poseur. Kevin O'Leary was absolutely right to dismiss him.

      fLufF
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  • Profile picture of the author SocialMediaOwls
    I thought it was amusing how Barabara didn't want anything to do with the SEO guy. How foolish...

    Both Mark and Kevin knew the value of a guy that can whip up $100k in sales in 4 months with most of the leads coming from self generated SEO skills.

    You don't let a guy like that walk out the door.
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