Up next in 10
In a market where traffic alone no longer drives premium valuations, the founders who win at exit are the ones who've built loyal, returning audiences and can prove it.
This webinar brings together Ezoic's monetization expertise and Flippa's M&A insight to walk through the Lifetime Value Playbook: how repeat user behavior signals lower risk to buyers, how to optimize monetization efficiency across content, SaaS, and eCommerce, and how to build the exit-ready metrics profile that high-tier buyers actually look for.
Featuring Charlie Stoever (Senior Yield Strategist, Ezoic) and Jared Lauber (Senior M&A Advisor, Flippa).
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0:00
All right. Hey, everybody. Welcome to the Lifetime Value Playbook here. This is Jared with Flippa
0:10
We have Charlie here with us as well, who is with Ezoic. Excited to be getting started here
0:16
Hello, everyone. We got a few people still trickling in, so we're going to get started here officially in a minute or two
0:25
But while we wait for some people to trickle in, feel free to throw a welcome in the chat
0:31
Let us know where you're from. Yeah. And what you're excited about in the chat
0:36
I am based out of Ludington, Michigan. So if there's anybody else from Michigan, that'd be cool to hear
0:43
If you've ever, anybody's heard of Ludington, that would be surprising as well. It's very small town, shores of Lake Michigan, beach community, vacation community
0:55
If you think of a small Hallmark town that you see like in a Hallmark movie, it's what we are
1:00
So if anybody's heard of it, that'd be great. Tom, yeah, they've seen the ferry in Ludington
1:04
That's what we're known for. We got a car ferry that goes from Ludington on our side of Lake Michigan over to Wisconsin
1:10
It goes every day, drives cars and people over. So that's cool
1:14
Hey, Tom, thanks for joining. And I'm joining over from San Diego area
1:19
Zoek's main headquarters is here in Carlsbad. So North County, San Diego
1:23
and I'm lucky to be here over here. We also have Alyssa from Ezoic
1:28
She's in the chat, going to help out with some questions, collect notes
1:32
help write things out for me. She's also in the Carlsbad area. Oh, Hawaii
1:37
I'm jealous. Hawaii's on the bucket list. Never been. It's top of the list for me and the family
1:46
It's a far trip from Michigan to Hawaii. Yeah, it's an easy day
1:50
It's incredibly beautiful. Yeah, I imagine. I've never heard too many people say bad things about Hawaii, Lauren, so very jealous. That's cool
1:59
It would take a special kind of person to say that. Yeah. Cool. And then we've got some practicing. Awesome
2:08
And then on Flip aside, too, you'll see in the chat earlier, Mike's here from Flip as well
2:12
Again, happy to have Mike with us. He's going to be answering questions in the chat, things like that as we go
2:16
um oh tom says his son's in solana beach probably saw him surfing i am a surfing fiend and i actually
2:25
live in del mar so solana beach is about 300 400 yards away so there's a very high chance that we
2:32
surf together all the time without knowing that's very funny yeah we got uh montana latvia cool
2:41
Chris and Tom, great to have you guys. Barcelona, Spain, cool. I had an exchange student who lived with me last year from Spain
2:51
So he was from Madrid. Awesome. All right. Well, let's go ahead and get started
2:55
We may have some people trickle in, which is fine as we get going
3:00
But again, excited to have everybody with us. We are here today to talk about lifetime value
3:04
And from a flip of perspective, it's really, you know, how can you maximize, you know, lifetime value and why is important to buyers and why buyers are willing to pay more for a business, you know, that really has optimized lifetime value of their customer compared to another
3:20
And Zoic is the perfect partner to have with this because they're going to talk to you about what you can be doing today to actually put an action plan and a game plan together to optimize the lifetime value of your customers
3:30
Do the thing that's actually going to lead to a more successful exit at the end of the day
3:34
the implementation of it. So yeah, great to have them with us. Again, I'm Jared. I've been a business
3:41
broker for six years now. I'm one of our senior M&A advisors here at Flippa. All of my time in the
3:47
brokering world has been in the digital space. So working with sellers across e-commerce businesses
3:53
software companies, content businesses, anything in the digital realm, that's where my specialties
3:57
really lies. And today I'm going to be bringing you what I really consider real advice from buyers
4:04
You know, part of my job is talking to buyers on a daily basis and understanding what are they looking for in a business, what's important to them and what concerns them moving forward
4:13
So we're going to assess a lot of that when it comes to a buyer perspective of lifetime value as a seller, how you can optimize your business to meet buyer expectations
4:22
And then we have Charlie here with us. Well, let him introduce himself. Yep
4:26
My name is Charlie. Again, if you joined just recently, I've been with Ezoic just over five years now
4:32
I've worked in two basically major teams. Originally, the first year and a half, two years was a lot of onboarding
4:39
So I got to kind of learn every advantage, every edge you could create while onboarding
4:44
a site to kind of put yourself in the best position, which was super beneficial
4:48
And the last two and a half, three years, I've been in a yield strategist position
4:53
which is essentially I kind of sit as a liaison between our sales team and our revenue operations
4:58
team, which is great because I can look at all the back end with all the engineers
5:02
figure out what's working, what's not, where the market's going, what we're changing
5:07
what we're A-B testing, and kind of apply those things to both our sales team, our PSM teams
5:13
like account managers, and kind of apply that to our entire network. So it's a constant learning
5:18
curve, which is extremely exciting. So I'm happy to share some of the things we've been seeing today
5:24
and probably sound like a broken record on the important things, but that's all right
5:29
Cool. All right. Thanks, Charlie. All right. Let's go ahead and dive into our agenda. We're going to discuss five key areas today, and we have about an hour carved out
5:39
If you have to leave at any point in the hour, no worries. You will get a recording of this full webinar sent to you right after the call
5:46
But we're going to start talking about a buyer's lens. From a buyer perspective, what is driving higher valuations
5:52
What are they really concerned about in today's market? it. From there, Charlie and the team are going to talk through growth strategies, how you can
5:59
actually increase your lifetime value, things that are applicable to you today that are going to be
6:04
also applicable to a sale later in the future. And we're going to talk through strategy. When it
6:09
comes to your exit, how can we meet buyer psychology and really build a business that
6:14
is going to be easier to sell and sell at a higher valuation? And then we're going to go through just
6:19
some quick exit readiness, things you could be doing over the next six, 12 months as you prepare
6:23
to exit. And then we'll leave time for a live Q&A at the end as well. If questions do come up during
6:30
the webinar here, feel free to throw them in the chat now. We have teams monitoring the chat. So
6:35
they'll either answer it directly in the chat for you, or if it's something that we want to cover
6:39
at the end of the talk, we'll be able to reference back to that. So definitely use the chat throughout
6:43
the call as well. All right, let's go ahead and dive right in. So let's start and talk through
6:47
So lifetime value versus traffic. And from a buyer perspective, what that really looks like and how buyers are evaluating quality
6:56
versus quantity of users. Now, a long time ago, five or six years ago, buyers really were concerned with one number
7:04
And it was your overall traffic. What was the traffic doing? What was that number
7:08
Was it growing? Was it shrinking? And that's kind of where the diving into traffic ended
7:12
A lot of buyers just stopped there and said, OK, I like the traffic number. Let's look at other aspects of the business
7:18
Today, it's changed a bit. That traffic number, that overall number is important
7:21
It still gets buyers interested but really that the starting point From there they going to be diving much deeper into the actual metrics of your traffic and who the users uh and the customers of your business are uh predictability is going to get them comfortable
7:38
Uh, and so the predictability of that traffic, um, and how it ties to your revenue is going
7:44
to significantly reduce the perceived risk that a buyer uses, uh, and looks at when valuing
7:50
your business. And when it comes to paying a premium for your business, it really comes down to the
7:55
lifetime value of that customer. It's going to help justify that premium. I'm talking to buyers every day and they really want to understand who the users are, the
8:05
businesses that they're buying and how they can optimize the revenue of each user moving
8:09
forward and what's being done today, what's not being done and what could be done into the future
8:14
And so, do users have a reason to come back to your website or to your business
8:20
that's what buyers are going to be yzing and looking at. What is the value proposition
8:25
that you're giving a user? And do they have a reason to come back for that value proposition
8:30
When it comes to growth, are we just dependent on one channel? Call it SEO, paid ads
8:39
whatever it may be. Is it consistent or is it dependent on that one channel? Because
8:46
if you put yourself in the shoes of a buyer, a business that has a ton of dependence on paid ads
8:52
is going to be seen as considerably more risky than a business that has some organic traffic
8:58
has a newsletter, has an SMS funnel. A content business that has lots of different traffic
9:05
sources compared to one that's completely dependent on Google for traffic is going to be
9:09
seen as much less risky. And so is there growth dependent on one traffic source or not
9:16
And then how can I improve monetization without rebuilding the whole business, right
9:20
As a buyer is looking at different acquisitions and opportunities in the space, they don't
9:25
want to have to rebuild the business from start. And that's the way that they view a lot of businesses where their traffic and user is
9:30
coming from one source. And there's not a lot of data, information, and understanding of who those users are
9:38
And so is the audience real or is it just temporary traffic? That's what a buyer is ultimately viewing
9:43
You know, when they look at businesses, it's, you know, it's a brand and I'm buying a brand and do people come back to that brand consistently or is it just, you know, one user comes, they leave and they never come back
9:57
And am I always dependent on finding that new user? That's going to be seen as considerably more risky for a buyer
10:03
And ultimately, buyers valuation comes down to their perception of the risk of the business moving forward
10:08
So when it comes to lifetime value, it's all about optimizing that lifetime value of that customer today, understanding those customers so that we can reduce a buyer's perceived risk of the revenue of your business continuing post-sale
10:24
And so Charlie is going to talk to us a bit about that value beyond that click and the lifetime value of the traffic
10:31
yeah so to first start off by repeating a little bit of what Jared said page views don't exactly
10:38
tell you a whole lot about a business I think for a long long time in the programmatic world
10:43
it was how many visits how many page views and then there's kind of an assumption from there
10:48
but like okay you must make x amount of dollars per month I mean the equation that goes into how
10:54
much you're making a month is 15 to 30 to 40 different variables you know you have ad density
10:59
where's the traffic coming from with the engagement signals so i think the initial idea i wanted to
11:03
really repeat here is the fact that page views are a number revenue per month is something else
11:10
and while there is correlation some causation there it's very important to kind of establish
11:15
those as two different things and then understand the variance there and then how you can actually
11:21
grow it uh you know page view growth is can be pretty expensive and isn't always super fast but
11:28
Revenue per user growth can compound on the same traffic that you've already paid for or you've already kind of established
11:35
So that's something that I want to refer back to Jared when he was talking about kind of like an owned audience
11:40
Is this traffic coming out of thin air from maybe a viral hit or is this an owned audience that you can kind of control and stay away from algorithms
11:51
Another thing I want to touch up on now, but I'll repeat a little bit later, is basically the shift in the market that's kind of happened
11:58
It's been very interesting. I think AI has come into the world and has kind of shifted many, many markets, regardless of kind of where you exist, whether it's economics, media, or anything of that sort
12:14
And kind of what we've seen, as you guys already know, is that SEO traffic and referral traffic from there has kind of been cut unless you're one of the top dogs, I'll say
12:26
But that's actually not a bad thing. And I want to actually talk about that a bit because we're seeing higher value audience from other places that are kind of what I'll refer to again as algorithm independent
12:39
You know, you're not relying on someone else's audience that you're licensing, you're kind of renting from
12:44
I'll use those terminology. But these are real owned audiences that can kind of turn into repeated users
12:50
So I will talk about that again in a bit. And then a huge one is basically this media quality
12:56
And this kind of refers back to the post-AI change in the world we've seen
13:02
I think before, a lot of the times the publishers kind of had the power in the relationship with the buyer
13:10
I think they were in kind of control of it a lot. But as that market kind of shrunk from an SEO standpoint, you have this power shift go to the advertiser
13:22
So advertisers are now saying, I can be a little bit more picky on where I want to buy
13:26
If our budgets are going to continue to grow for the programmatic world and serving ads, we need to make sure our ROI is super calculated
13:35
Not only is it calculated, but is it growing? So there are a couple of ways when I refer back to media quality
13:42
That's essentially what we're doing. Is X premium advertiser willing to buy on my inventory
13:48
And I think the real answer is, is the quality there and is the ROI also there
13:55
I'll go into this a bit more, but the underlying idea that is really kind of ensuring is that
14:00
the higher the ROI for a premium advertiser is going to also mean a higher ROI for you as a
14:07
publisher. So it's not one of those scenarios where you have an advertiser winning and then
14:12
the publisher has to maybe like take some of that premium and maybe not earn as much
14:17
We now have this like really nice calculation where a premium advertiser sees a site that
14:22
they really, really like, they're going to be willing to spend a lot. And through some of the
14:27
systems that we've set up at Zoic and through the market, publishers will also be earning more
14:32
So that's really the beautiful thing that I want to drill down here. This isn't a negative thing
14:37
at all. I think this is some of the practices that have happened post-AI in the last two
14:43
three years are things that the market could have really benefited from five to 10 to 15 years ago
14:49
because I think advertisers will be really happy to jump on some of these sites based on the media quality and some of the other things that I talk about again But you know another idea is that a user who reads like three articles
15:05
scrolls all the way to the bottom and returns the next week is worth 10 X to
15:09
maybe 15 X more than someone who comes to the page and bounce. So something I'll refer to a lot throughout this presentation is like your
15:17
engagement signals and those engagement signals of your users actually feed directly and to add auctions directly, like session depth, time on the page, return visitors
15:29
return visitor frequency and percentage. You know, those aren't just ytics metrics. Those are
15:35
actual revenue inputs that will feed and kind of help you understand your business
15:40
So when we think about all these things, we want to think about that both as growth
15:45
and stability. So, you know, a high LTV means you can reinvest more per visitor that you've
15:51
already acquired. And from a stability standpoint, LTV smooths out traffic volatility. So while
15:58
volatility can be great on the upend, maybe you have a viral hit, maybe you have this or that
16:03
that kind of refers back to Jared's point of, is this a confidence buy or is this just random
16:09
volatility that we see throughout the years? Because one year, if you see $200,000 in revenue
16:16
and the next 250, you might say, great, this is compound growth. Well, revenue per month might be
16:21
down and you have a couple of really high viral spikes. Are those viral spikes repeatable? Sure
16:28
yes, maybe, but not with high confidence, which we'll talk about more, but that goes into the
16:33
confidence of it all. And then something I'm really excited to share about is kind of the
16:37
new revenue paths and the formats. So a lot of times we will work with clients where we have the
16:44
same flows. We have the same traffic, whether it's direct or from a newsletter or from maybe
16:51
like a Pinterest page, but we can kind of alternate the paths that these users go through
16:56
and the different formats they see. And oftentimes we can kind of segment users into different buckets
17:02
and say, look, super high intent users can make sometimes 80 to 90% of the revenue. That is very
17:09
subjective based on the domain. But the idea here is that you can understand the intent of a user
17:14
and then basically capitalize on that based on like a value of exchange, which I will go to in
17:20
a bit more, but I want to kind of plant that seed. And then to the point on the right from an asset
17:28
type, I think the thing that I really want to just drill down here is that it's the same equation for
17:33
different domains and different type of domains. It's basically your value and your frequency
17:41
times time. These are just different inputs, but knowing which one you're optimizing for
17:47
really tells you where to spend your effort and which levers to kind of pull
17:53
So that's kind of the main points I want to drive home, but I'm going to go into this a bit more
17:57
but I wanted to kind of plant those seeds for you guys so you can kind of get an initial
18:01
understanding of what I'm going to get into. Yeah, cool. Awesome. Well, thanks, Charlie. And
18:08
it's interesting to hear like advertisers perspective on, you know, what they're willing
18:13
to pay more for and less for. It's very similar to a buyer perspective when they're yzing your
18:17
business. You know, it's interesting how many times buyers or sellers will come to me and
18:22
will compare two different businesses and that one will have, you know, significantly more traffic
18:27
but it will be optimizing that traffic way less. It'll be the revenue of that business will actually
18:31
less than somebody who has 25, 30% less traffic, but they're really optimizing revenue per user
18:38
and visitor to the page. Yeah, super interesting. Let's talk a little bit about from a buyer
18:46
perspective, how lifetime value is going to impact valuation. So when a buyer is evaluating a
18:53
business, they're not just looking at profit in isolation. They are trying to understand the
18:59
quality of that profit today? And really, what are the probabilities of that profit continuing
19:05
into the future at a similar or a growth level? Buyers tend to pay more for businesses where
19:11
revenue is going to feel repeatable because that repeatability is less risk for them
19:18
And buyers factor in risk and devaluation. So if a business has repeat usage, returning visitors
19:26
reoccurring revenue, a strong audience relationship, all this is going to lower perceived risk of a
19:33
buyer, especially when they're comparing multiple assets. That's the thing that sellers need to keep
19:37
in mind is when you go to sell your business, you're not the only bell at the ball. There are
19:42
dozens of other sellers, similar businesses as yours, who are trying to capture buyer interest
19:48
And so as you're building your business today, you need to build it in a way that is going to
19:53
optimize for capturing buyer interest at the time of sale. And you can do that by fully
19:59
understanding your customers and optimizing for lifetime value of your customer and repeatability
20:05
of that revenue. It's really the bridge between a business being a traffic play and having a
20:12
premium asset that we can go to market with at a premium valuation. And there's two areas of this
20:18
that I would say our core focuses for sellers, you know, and that buyers are going to yze
20:24
during a due diligence. And the first is predictability versus volatility. You know
20:30
they're going to want to know, hey, is this a business that, you know, it has a stable trend
20:35
or it's upward? You know, I can have confidence in the revenue continuing. That's going to be
20:41
easier to underwrite moving forward than something that has, you know, spikes of revenue, something
20:46
that one article went viral or ranked really high for a search term, but no longer ranks that high
20:51
or maybe you had a paid ad that did really well, performed above average and spiked revenue for a
20:57
few months. That type of situation is much harder to underwrite future cashflow moving forward
21:04
Now, buyers are yzing and valuing your business off of previous cashflow, most often
21:10
the previous 12 months of profit. But in terms of the confidence multiple that they're willing
21:16
to pay for that profit, it comes down to how confident they are to, that's going to reoccur
21:22
Then they're also going to look at retention and acquisition dependency. So, you know, a strong
21:27
returning user base, you know, that, you know, the seller understands, they know who they are
21:33
they know how to target them in different ways. That is going to be a business that
21:36
a buyer is going to be willing to pay significantly more for from a, you know
21:40
evaluation standpoint. And so those are two areas where, you know, if I'm building my business and
21:46
I'm looking to sell in the next six, 12, 18 months, 24 months, the first thing I tell a seller is put
21:53
yourself in the shoes of a buyer. Like if you were a buyer today, you know, would you be confident
21:58
that your traffic, that your revenue is going to continue at the level it is or with some growth
22:04
Or are there areas where you could poke holes in it? Because as a buyer, they're going to come in
22:08
and any area that they can poke a hole in, they're going to. And they're going to use that as their advantage to negotiate the deal
22:15
So those are things I would focus as a seller. And this really applies to all asset types
22:23
Lifetime value oftentimes from a high level is often thought it like yeah this is kind of a software metric You know maybe there some metric I could apply to my content business But really across all asset types this is something that business owners and operators should be focused on
22:40
From a content perspective, buyers are going to be looking at LTV in the lens of, hey, is this a loyal audience or is this SEO only traffic
22:49
Like, you know, are these users who there's multiple funnels bringing people to the website
22:55
Or is it just, you know, they rank good for some search terms? And, you know, that is a place where buyers are very concerned right now, you know, with the way that Google is handling search and incorporating AI into search
23:07
There's a lot of uncertainty around that in the future. And uncertainty leads to perceived risk
23:13
Perceived higher risk leads to lower valuation. Anything you can do to have more understanding of your audience and control of where your audience is coming from and ownership of the audience and a content perspective is going to increase your valuation
23:28
From a SaaS, LTV has always been important when yzing software companies for buyers
23:34
They're going to look at retention, churn stability, the expansion of revenue, the quality of that reoccurring revenue
23:41
So a SaaS business with low churn, a buyer perceives as much less risky than something with high churn
23:46
You continue to have to refill the funnel in the bucket. And so it's always been a metric that's important for buyers
23:53
It's become more and more important with, we don't want to beat on a drum here, but with AI disrupting the software industry a bit, that's a huge metric for buyers nowadays
24:05
The one area that has become really interesting and is completely different than what it was five, six years ago is in the e-commerce space
24:14
LTV was not a metric that a lot of buyers of e-commerce business worried about five, six years ago
24:20
In the day of Amazon aggregators and funds raising a bunch of money to buy e-commerce businesses at that time
24:28
They were just buying Amazon FBA listings that were 100% dependent on Amazon search engines, Amazon PPC
24:36
It was one listing. They didn't own the customer whatsoever, and this was not a concern
24:41
Lifetime value was not talked about between buyer and seller at all. A lot of those things struggled post-acquisition
24:48
A lot of it was because of the change in Amazon search engine, the way that Amazon did their PPC changed over time
24:55
In rankings, we have declined for a lot of these listings. And buyers start to understand, okay, I don't have any control over my customer here
25:03
My lifetime value of my customer is one purchase, and then I need to go find them again
25:08
They're not coming back to my listing. They're going to Amazon, searching the same term, and now a new listing is there
25:13
And my brand is not important to them. That's completely changed now where buyers are looking for a brand
25:19
And that's when you hear this term brand thrown around a lot. a lot, but what buyers are really saying when they say, I want a brand is they're saying
25:28
I want something with a high, like high value where customers are coming back. They're repeatable
25:34
That's really boring. Is there subscriptions in the business? Are customers coming back? Is there
25:38
email or SMS? Consumable products, reorder behavior. All these are metrics that buyers
25:46
now want to see that they really didn't look for five or six years ago. So a big change in
25:52
the way lifetime value is used to value an e-commerce business. And that impacts valuation
25:58
significantly. One of the biggest things outside of a business being healthy from a revenue
26:04
perspective, a profit perspective, growing, one of the biggest things that impacts valuation
26:09
is lifetime value of customers. And it not only impacts the valuation, but it's going to impact
26:14
the structure of an offer as well. Is this a cash deal? Is it less cash today, but more
26:19
based on future performance? Is there a seller note? All of these things, businesses that have
26:25
a good understanding of their customer and have a high lifetime value and can prove that they do
26:31
tend to get a much higher valuation. And we see this in the real world. So I'm going to go through
26:35
two deals here. These are real deals that happened on Flippa over the past 12 months
26:41
I think one of them was about three months ago, the other later nine months ago. So a little bit
26:44
of time difference between the two, but not substantial. And they're very similar assets
26:49
They're both food blogs, a little bit different overall niches, but basically recipe blogs, nutrition blogs, things like that
26:59
Deal one, it did $225,000 of revenue. Of that, $165,000 was profit
27:06
Deal two, slightly larger, but similar, $300,000 revenue, $215,000 profit. So we dive into the metrics of these businesses and you'll see how lifetime value can really change the way that a deal works at the end of the day for you as a seller and as a business owner
27:24
So deal one had pretty diverse traffic. And when we look at the breakdown of the traffic, 40% of it was organic
27:32
Concern, not surprising. A lot of food blogs do depend on a lot of organic traffic coming to them
27:37
But the seller did a great job of diversifying over the last three to four years of their traffic
27:44
And so they had a lot of traffic coming from Pinterest. 25% of their overall traffic was Pinterest
27:48
They posted daily. They're very active on Pinterest. 12% of their traffic was direct
27:53
So they had some type of, you know, customers clearly liked their content and they were coming back just direct to the email
28:01
Email list. So they did a great job. They had a funnel set up, you know, free PDF that users could get
28:09
They gave them their email. They get in their newsletter. And then they could target them via the newsletter
28:14
They had some sponsorships in the newsletter as well. So they get other revenue coming through the newsletter, which buyers really liked
28:20
7% of the traffic was social. Think Instagram, Facebook, TikTok, things like that
28:25
5% referral and 3% other. So this was a very diverse traffic breakdown
28:30
And more importantly, this was a traffic breakdown that allowed the business owner to capture a lot of data and information about their users
28:38
They knew who their users were, and the users were not dependent on one source of traffic to land on their website
28:45
This led to a lot of buyer interest. We had seven total offers. The seller ended up accepting an offer that was 2x up front
28:52
2x, when I say that, I mean 2x on the profit or the EBITDA figure, which was $165,000, and a 0.75x seller note
29:00
That was paid out over 12 months in equal payments. Total valuation was 2.75x or $453,000 is what they walked away with at the end of the day
29:10
On the other deal, again, a very similar asset, same business model and, you know
29:15
ultimate goal, which was to get people to view their blog pages
29:20
Traffic breakdown was much different though. 82% of it was organic, meaning it came right from Google, right from search engines
29:28
Google, Bing, Yahoo, majority of it being Google. 8% of the traffic was Google Discover, 4% direct, 3% social, 2% referral
29:37
So this seller, all they did was focus on SEO. They didn't capture any emails
29:42
They didn't run a newsletter. They didn't focus on Pinterest traffic or other social traffics
29:48
It really was just organic SEO was their bread and butter. Now, this site was much older
29:53
It was almost 20 years old. It had a lot of history behind it. The URL was strong. The domain was strong
29:58
So that had that kind of going for it. But in today's age, buyers were very concerned with the organic search traffic
30:08
And rightfully so. Whether that concern is justified or not, it's the buyer's perception
30:14
of that concern that is reality. A buyer's perception is their reality, and ultimately
30:19
that's your reality when you sell. And so, buyers factored this in, and it was factored in by one
30:24
just less overall interest and offers. We had the same number of NDAs signed roughly
30:30
so the same number of buyers that looked at the deal. But ultimately, we only got two offers. One
30:35
of the offers was a really low ball offer that I would almost consider not an offer at all
30:41
The second offer was still a lower offer, but it was the one that the seller accepted. They
30:45
accepted 1.2x on their profit upfront and a 0.5x seller note. Their seller note was actually two
30:51
years. And the total valuation was 1.7X or $365,000. And so you can see how the repeatability
30:59
of the traffic, the confidence in the traffic, and really the understanding of who their customer
31:05
was really factored into the way buyers value this business or a business. Because deal two
31:11
ultimately did more profit, right? It had just as good margins. It was just as healthy as a business
31:16
It wasn't declining month over month. Revenue was relatively stable. Traffic was relatively stable
31:22
But at the end of the day, they were doing $50,000 more profit than deal one, but they walked away with almost $100,000 less at the end of the day
31:31
So very real world, interesting example of how lifetime value is perceived by a buyer
31:38
They valued the lifetime value of these customers of deal one significantly more than deal two because, you know, deal two, they didn't know what the customer was
31:47
They were dependent on Google. One thing changes in Google. A couple of articles start dropping and ranking and the business looks substantially different compared to deal one where, you know, sure, there could be a traffic hit
32:00
but they ultimately have other avenues to acquire customers, reach customers and the newsletter
32:09
The ownership of that customer in the newsletter was seen as a big value add for a buyer
32:17
That's a great example of real-world lifetime value, how buyers are going to view it
32:23
As your job as a seller is to start building an asset that buyers are going to perceive as less
32:28
risky in the future. And the best way you can do that is by maximizing lifetime value today and
32:33
truly understanding your customer. And Charlie's going to go into how Zoeg helps their customers
32:38
do that every day. Sweet. So yeah, this is going to be the exciting version for me of what I want
32:47
to share because it's kind of what I do on a day-to-day basis. But essentially, what we always
32:53
want to look at to start is kind of your engagement metrics and your audience itself. The reason we
32:59
look at this is because if we have a certain customer or publisher within our network or out
33:05
let's say they're seeing CPM suppression over time. The first thing we'll always do is basically
33:09
look at the engagement. Every single advertiser will basically get kind of post-auction metrics
33:16
So they're going to know historically of what that data was and what that data is now currently
33:21
So they can always look back and say, hey, where is this site going
33:25
Where are the users going on this site? AKA, are they bouncing earlier
33:29
Are they going to as many page views? Are they getting as low on the page
33:34
And then they can make a basically a calculated decision on A, if they want to buy and B, how
33:40
much they want to spend. So again, session depth, page views per visit, excuse me, page views per visit and return
33:47
frequency are like the two metrics that can move your LTV the fastest. If you get a user on some really good content, get them to engage through the page
33:56
So then they can be like, oh, here's a second article. I would love to read that
34:00
You've just doubled that single user's value. And doing that incrementally over time is extremely valuable for obvious reasons
34:07
There's a lot more I can go into that. But at the end of the day, the data is going to tell you which users are high value
34:14
So you can kind of stop treating all segments of traffic the same
34:17
Again, like I said earlier, you have different formats and funnels of users. So kind of understanding the intent of that user is going to help you establish which levers you can pull in terms of ad formats, ad density, and things like that
34:34
But I think the thing at the end of the day in this first section I want you to understand is that advertisers do get a lot of post auction metrics
34:42
So they're going to know kind of what you're doing and what your users and what your users are doing, both historically and currently
34:50
So, for example, sometimes we'll have someone come to us and say, I have very similar traffic
34:55
Traffic source is the same, but I'm kind of seeing CPM compression
35:00
I don't understand why. And a lot of the times they'll say, I want to come to you guys and I want to test maybe an additional unit in the sidebar, maybe another additional unit on the top of the page, because they might think, well, more ads, more revenue
35:16
And if that's true, that's going to be true tomorrow, but that's not going to be true next week because advertisers will now say we now have a more dense setup
35:25
My impression that I'm serving within any viewport is now kind of less valuable
35:30
so that's kind of the the balance we try to find we say hey we can make you more money
35:37
but sometimes the best thing to do is to take a step back and you might say okay well that's not
35:43
reassuring but the whole point is you want to build up that credibility and the trust with
35:47
these advertisers and say hey let's build up these post auction metrics let's get session
35:52
depth down longer viewability of that impression can be higher it's more guaranteed to that
35:57
advertiser. So similar to what Jared said earlier, if you kind of align the perspective of a premium
36:03
advertiser buying an impression slot to also a buyer looking to buy your site, it's a very similar
36:09
perspective. You know, these are metrics that we want to build over time that can point to very high
36:14
lifetime value and then kind of point to a very high value of exchange for a user
36:21
And I'm going to go back to this media quality that I was speaking about earlier. This has become
36:26
super forefront. So this is extremely important to consider when you are considering growing your
36:32
site, changing your site. Advertisers are using a lot more third-party tools nowadays than they
36:38
were back in the day. And they're basically saying, is this cheap reach, aka is my impression
36:44
worth it? Is it worth buying? What's my return on my investment? And they're investing in a lot of
36:50
third-party tools that will basically establish some type of grounds on is this site high quality
36:57
or not. So a lot of the times they'll say like a super simple question I like to tell people is like
37:03
is this safe for my grandma to read? Is that a positive sentiment or is that a negative sentiment
37:11
Is the connotation of this brand positive or negative? And that's actually a huge indication
37:16
on whether someone or on whether an advertiser is going to be willing to buy
37:22
And when you do that in mass you basically build a premium bucket of high competition So taking a step back early to increase those engagement metrics and increasing your media quality might bring in more advertisers around the clock
37:37
CPMs might slowly climb, but then you might start to realize, well, you now have high paying brands
37:42
like Honda, Toyota, Nike, Adidas. This high premium competition is now tenfold. So you'll
37:51
see your CPM start to slowly climb because advertisers are saying, well, this is worth it
37:55
We're getting a return on our investment. These users are really highly engaged. Let's spend more
38:01
incrementally. And that's where you see that real long-term growth. So a lot of the times people
38:07
might think, yep, more impressions, more revenue. That's true. But if that viewability and kind of
38:12
the perspective of the advertiser is declining, then so will the CPMs over time. So that's
38:17
something I really wanted to drill home. And then that second point there is called SPO
38:23
This is called supply path optimization. So this has been another huge shift in the market around
38:29
you know, the last two, three years, maybe even less than. And it's basically the avenues and the
38:35
channels that advertisers are buying through. So historically, you know, we might work with
38:40
20 to 30 plus demand partners. And within that, we can basically have an ads.txt file. I'm sure
38:48
some of you guys are aware. And if you're not, it is essentially a file that will authenticate
38:54
certain people to buy on your site. So like if we work with a trade desk, we'll have an ads.txt
38:59
file on the site that will give the trade desk basically the authority and the verification to
39:05
buy on the site. And within that ads.text file, each partner is listed as either direct or a
39:12
reseller. A reseller is just a partner that can say, hey, we'll take that auction. We'll bring
39:17
it to more demand. We can pull a higher CPM. But what happens at the end of the day is even if they
39:23
bring in a very small, incrementally higher CPM, what happens is the path for an advertiser to buy
39:30
grows so much that you have four to five people in the middle grabbing small pieces of that pie
39:37
of the revenue stream, which then end up diluting your CPMs more than if you were to have a direct
39:43
buy path. So supply path optimization is simply about getting more optimized revenue streams from
39:50
auction to bid. So what that looks like is smaller ads.txt files. We continuously test our ads.txt
39:58
files with all of our different partners and say, hey, is this partner buying direct? Are CPMs up
40:03
or down? Hey, this reseller brings in a lot of really high value buyers. Let's test whether that
40:09
path direct or reseller is incrementally growing CPMs or deteriorating them. So media quality and
40:16
SPO, I put them together because they're both about, they're kind of like a quality metric
40:22
from a bidding standpoint. Is the media high quality and is the path at which we buy high
40:27
quality. So when you work with someone like Ezoic, we will basically label the top of our
40:32
ads.txt files and say, we are kind of like a manager of the auctions. We are a manager of
40:37
these domains. And all of the third parties and the big buyers know in the space that
40:41
this is a green light of trust. I know that working with Ezoic, their supply paths are optimized
40:47
So whether you're working with Ezoic or not, the media quality and the supply path optimization is
40:53
something I would absolutely look into with your current partner and say, are these things
40:58
optimized? And if they maybe don't know, then that's a great avenue for you to look and say
41:04
you know, how can I improve this? You know, you can reach out to one of us. I'm sure you'll get
41:09
my email after this and I can, you know, I'll happily look into this for you and say, this is
41:14
what's going well. This is what's not. I'm happy to share that information with you guys for free
41:20
of course. And then the last one from the audience standpoint is the newsletters. This has been
41:27
the biggest golden goose egg ever in the space. I have a pie chart after this that you guys will
41:36
kind of see. It kind of explains this better. But essentially, newsletters are offering the most
41:42
valuable information to buyers possible. Newsletters are now allowing us, Zoic, to pass
41:49
like encrypted hashed information on the user to the advertiser so they can know exactly who
41:55
they're buying for. Historically, and the overlying idea is that if I am Nike and I'm trying to buy
42:02
on a specific audience, the more information I can know on that audience, the more I'm willing
42:08
to pay. So the example I like to draw is, let's say Jared has a website. I sign up for Jared's
42:14
newsletter that goes to his website. Jared works with the Zoic. He can basically pass an encrypted
42:20
information when I click on the newsletter link to go to his website that will say, hey, hey, Nike
42:26
I have this encrypted user. And if I already have shopped with Nike and Nike already has my email
42:32
they'll say, oh, I also have this encrypted user based on the data that we already have from this
42:37
user that we've stored. We know that's Charlie. We know Charlie loves the new Air Forces or he
42:43
loves these new basketball shoes. Since we know that, we're going to 5x our CPM because we know
42:49
exactly what we're doing. So at the end of the day, the higher the targeting for the advertiser
42:54
the more they're willing to pay. And there's quite literally no better way to do that than
42:58
what we call a deterministic ID, which I'm going to go to a bit more in the next section
43:03
But it's basically, you can use the definition and say, we've determined who this user is
43:09
we're going to pay a lot of money because they're also in our database and we know what they like
43:15
So when we go into revenue and UX optimization, the myth is that more revenue is worse UX
43:22
but that's not true because with all the data that we've kind of talked about historically
43:27
you know, engagement, session depth, return frequency, we can say that when this is done
43:32
right, they actually move together. So more revenue equals better UX because we're understanding
43:38
the intent of the user better and we're able to offer them that value of exchange at a better
43:44
rate. So another way people do this, excuse me, is through different formats. So a lot of the times
43:51
we have customers come to us with simple, with simply just display units across the page and say
43:55
this looks nice. We like the layout, but in reality, we can implement a video unit. And we
44:01
know that historically in different sites and different segments, video units don't hurt UX at
44:07
all. Of course, that's subjective depending on the actual scenario laid out, but we'll have the
44:13
data to back it up. And you can actually leverage video units, display units, and other things like
44:19
a rewarded ad unit. And so that every format you layer on top is basically incremental revenue from
44:25
the same audience. So that's a very easy way we can go to a publisher that's historically run the
44:30
same setup for 10 years and say, look, we can run a sample. We can run a test, an A-B test on 5%
44:36
2%, 10%, whatever they're comfortable with of traffic. And then look at the engagement of those
44:40
users and make an informed decision for the entire business. And what ends up happening is we have
44:45
old business models that kind of take on that understanding of a simple A-B test. And then we
44:51
can expand those A tests with positive results to the entire website to the entire network 100 traffic And we can see like 60 returns So you know anyone earning they can easily go to 125 145 150 depending on the understanding of
45:09
the engagement and that value of exchange. So the third point in this revenue and UX optimization
45:16
is the most important one I'm going to refer back to. This is that idea of the deterministic ID
45:21
historically it's always been third-party data so hey i know where this user is located i think i
45:28
know what device he's on i kind of understood where he's from and i can you know i can make
45:34
an assumption on who this user is and say this is probably charlie based off this information
45:39
but again if i'm coming from a newsletter and that's first-party data encrypted information
45:44
premium advertisers are going to know exactly who that user is and again the highly targeted
45:50
information equals higher value for you as a publisher. So that's basically the entire
45:58
investment of most businesses that we've been working with. If you don't have a newsletter
46:02
get working on one. And then we can go into the utility because I want to also talk about that
46:07
from the first party standpoint. So every return visit is basically compounding LTV at zero
46:14
acquisition costs. And then you basically want to think about balancing the trust of your
46:20
advertisements to the content itself. So it's simply a value of exchange. One very common
46:27
scenario I like to think of when we think of value of exchange, what that might look like
46:31
If you've ever recently flown on any of the airlines, recently I was on Southwest. They
46:36
used to make you pay for Wi-Fi. I know texting was always free, but now what they simply do is
46:43
they say, hey, watch this rewarded ad for 10 to 15 to 30 seconds, and you can get free Wi-Fi or
46:49
texting on the site. So that value of exchange for me is super easy. I'm happy to watch that 15 to 30
46:54
second ad if I get free texting for the entire flight. That's kind of the underlying idea you
47:00
want to think about when you have this value of exchange I speak of. And then from the utility
47:06
standpoint, back to the first party data, there's a lot of ways you can kind of capitalize on the
47:10
existing audience. So when you have a very viral traffic spike, if you can capture some of that
47:17
audience to make them come back over time, that's going to increase basically the security of your
47:23
LTV. So one way we see a lot of publishers do that is through like a Google OneTap login
47:28
You know, if you go to a website, you might see the little Google pop up in the top corner and say
47:32
login as this user. You know, you can basically set up a user, you can set up a listening event
47:37
with certain permissions that you get granted from the user. And that way you can store that information
47:43
and then retarget them through high value pages that you've already given out to users
47:48
that have a very high RPM or EPMV. And then target those users again and again and again
47:55
So while viral traffic is great, you can actually capture that audience
47:58
and then move forward and retarget them forever at no cost. You're algorithm free
48:04
This is algorithm independent. And again, it's zero cost. And then you can basically calculate your monthly reoccurring revenue and say, look
48:13
my average opening rate is X. I send this amount of emails out
48:17
That means I can estimate my reoccurring revenue as this. And that's going to build that buyer trust that Jared keeps referring back to
48:26
So the golden scenario is like if you have a newsletter and you have a really good value
48:31
of exchange. User journey is very highly engaged and you can three to four X RPM very, very easily
48:38
The last point, subscriptions. We are in a subscription world. The whole point is that
48:43
a lot of times you see 95 plus percent or more or around that not subscribe, but that 95 percent
48:51
is actually a very monetizable traffic source. So we want to think about the non-converters
48:56
I still have very high value of exchange in terms of revenue. So the best people in the space
49:03
optimize both subscriptions. Great. Non-subscribers. Great. Let's capitalize on those through good formats. So the next pie chart is the really exciting opportunity. This is from last
49:17
year's data, but the left pie chart basically says this is the percentage of users that want
49:23
to buy on domains with that first party encrypted information available. So whether that's a login
49:30
a forum login, a profile login, a newsletter, an SMS, aka any way you can encrypt a phone number
49:39
or an email, 93% of advertisers and premium advertisers want to spend there. And this is
49:45
last year's data, so it's probably higher now. And then that 24% is basically the percentage of
49:51
open web users that are actually utilizing that information, whether they have it or not. It's
49:57
probably higher now as this was last year, but it's far less than 50%. So if you are sitting here
50:03
and saying, how can I grow my business, whether I have it or not, I'm looking to buy, invest in a
50:08
newsletter, invest in capturing that first party data. And then you want to work with a partner
50:13
that knows what to do with that first party information. Because a lot of different premium
50:17
advertisers use different signals and utilizing every signal across every funnel and every format
50:23
is going to grow your revenue an insane amount, not a little amount, an insane amount. So that's
50:31
the underlying idea. You have a massive opportunity where people want to buy, but there's not enough
50:35
real estate for them to buy on. So kind of thinking about this equation, how can I grow my first party
50:40
segment and then capitalizing on it with a partner that knows how to use which signals is going to
50:45
put you in an insanely good position. Yeah, absolutely. And the cool thing is like
50:52
that's putting you in a great position today and to maximize revenue and profit today
50:57
but it is going to also significantly make the selling process easier on you and make it easier
51:03
at a higher valuation too, which almost seems counterintuitive. But before we wrap up here today
51:09
just want to talk through maximizing your exit value through lifetime value. So once you do all
51:16
the stuff that Charlie mentioned, at that point, you're going to come to a place where, you know
51:21
it is time to think about the exit. And, you know, translating that lifetime value improvements into
51:28
higher multiples is exactly what you're trying to do here. Buyers are going to come in and
51:34
you know, they're not just going to take your word for, hey, I know who my customer is. You know
51:38
I have all this data on them, et cetera. They're going to want to see that and they're going to know that that's accurate and true
51:45
And so they want to see proof. They want to understand where the traffic comes from, how users behave, how revenue is generated, and whether there's concentration risk within those customers or not
51:58
Due diligence is really where the rubber meets a road per seller
52:02
And part of due diligence is being very prepared as a seller in the process
52:06
So, you know, as sellers, when I read through listing pages and I'm looking through, you
52:13
know, SIMs that sellers have put together, a lot of them lack the real data to back up
52:18
what they're saying. They say, hey, we have a great audience. You know, we have an awesome newsletter
52:22
We have you know XYZ you know kind of you know fluffing up what they have but there nothing that backs it up And so sure you have a great audience but you know let show returning visitor trends
52:35
You know, we have a great newsletter engagement or newsletter. Let's show all the engagement in
52:39
the newsletter. We need to show repeat customer rates, direct traffic numbers, revenue per session
52:45
revenue per customer. You know, how can we show and what data do we have? It's going to prove that
52:50
that revenue is durable so that everything we gave the buyer that they made offers on during
52:56
that due diligence period, we can justify and back up. The better you can prove that lifetime value
53:02
story, the easier it's going to be for a buyer to believe that future cashflow
53:09
Because a buyer, again, ultimately they are valuing your business on the past 12 months EBITDA
53:14
but really what they're trying to determine is how repeatable is this profit figure that I'm
53:20
that I'm purchasing at a significant premium, at a multiple. And so when buyers believe in that future cashflow
53:27
when they're very confident in it, when their perceived risk of that cashflow drying up is very low
53:34
they're going to pay way more for that type of cashflow. Back to the previous example where one seller walked away with 1.7
53:42
compared to almost 3x for the other seller. you know, on the buyer willing to pay almost double for that same, you know, relative cash flow
53:51
So yeah, understanding, you know, the buyer psychology there is incredibly important in
53:57
terms of, you know, maximizing your exit value. So yeah, hand it over to Charlie here to go over
54:02
some common mismatches here. Yeah. I think one thing I want to quickly say when I am getting
54:09
to this point, I've referred to vile traffic as, and I want to think that as like a negative
54:13
connotation is just trying to build the trust for a future buyer so one common thing we see people
54:18
do is with like maybe an seo update or a very very viral spike is that they've kind of captured a
54:24
moment um but not the actual audience so doing something like having a newsletter sign up or a
54:29
profile login or a one tap login can kind of give you that reassurance for a reoccurring visit
54:35
so viral traffics are great viral traffic spikes are great because it's great revenue for the day
54:40
but you want to basically capture that audience and not just that moment. So that's something I want you guys to think about
54:46
And I think I spoke about virality as a kind of a negative
54:50
but I really didn't mean that. It's more about capturing that audience and then using that again
54:54
And then the one thing I really want to say again is that recognize the value of your site
54:59
Every user is going to your site for that value of exchange of a piece of information or content
55:05
Don't lose the sight of that vision and don't try to do too much there because if you create too many obstacles and barriers for them to get that
55:11
that's when they might not come back. So always recognize the engagement metrics
55:16
always recognize the value of your site and go from there. Always refer back to data for verification
55:22
At Ezoic, yes, we do ads, but I think at the core, we are a data nerd company
55:27
We geek out on data. We have more data than we typically know what to do with
55:32
Now that we have AI, we can get through all that and make pretty smart decisions about it
55:37
But always refer back to the data when you're making these decisions because it's going to be super, super valuable
55:42
We have very simple ways to do this in our system. Let's say you have a very typical funnel, but you want to test something
55:49
We have very easy ways that you can set up on your own end to A, B, test things at 10, 15, whatever percent of traffic you would like to do so
55:56
So having the availability to test and engage to test and then also view that engagement and go from there
56:03
Make those informed decisions on your business and always, always, always refer back to the data
56:08
And then the last point is basically, I really just wanted to put out e-commerce as an example
56:12
to basically challenge your existing judgment on ads in the ad space. We're actually seeing
56:18
that e-commerce is one of the faster growing segments in the programmatic world. Historically
56:22
people would say, that's crazy. Why would you ever put ads on a site where I'm trying to convert
56:26
users to buy. The reality is maybe 95%, maybe 90% on a very good day actually convert to buy
56:34
So you have 90% of your audience kind of going through the abyss and maybe not coming back or
56:39
ever converting. And that 90% to 95% of non-converters is extremely, extremely valuable
56:44
by having maybe a simple ad layout. And you can actually find that a lot of times
56:50
it actually doesn't change conversions because users go to the page knowing what their
56:55
value of exchanges for, they're looking for something, whether they convert or not is not
56:59
always solely independent on the actual ad setup or if there's ads there or not. So that's something
57:05
I really just wanted to drill down there and kind of challenge your pre-existing ideas on that
57:17
Cool. All right. So we're going to jump right into just key takeaways here because we're coming
57:23
up on the top of the hour. And then we want to leave a little bit of time for questions as well
57:29
As founders, I really have five takeaways I want you to leave here on the flip side of things. When
57:33
it comes to your valuation, when it comes to a successful exit, understanding that buyers pay
57:38
for predictability, not just performance. So as a buyer is yzing your business
57:43
they are going to be looking at the predictability of that revenue, of that performance over the last
57:48
12 months, 24 months, and how predictable is that to move forward? The more you can justify that
57:53
predictability, the higher a buyer is going to be willing to pay for that cash flow, the more they're
57:59
going to be willing to pay for that cash flow. Buyers also really want to know the quality of an audience. The term brand is very important in today's market. Build up a brand. Make sure people
58:09
want to come back to your brand, whether that's an e-commerce business, a content site, a SaaS
58:13
company, make sure that there's some loyalty to who you are and that people show up one time and
58:20
they never visit you again. So that exchange of value that Charlie talked about, it's there
58:25
and it's enough to keep people coming back to you as a brand. Reduce perceived buyer risk before
58:32
going to market. This is huge. Again, sometimes it's just got to play the game. Buyer risk and
58:39
the way that they view risk is their reality. Their perception is reality. Sometimes their
58:42
perception is wrong. They may buy a business that they thought was less risky than another
58:48
and it turned out to not be the case. But we need to play into the things that buyers
58:51
view as risk and perceive as risk. Do your best to reduce those. And the best way to do that is
58:58
to increase lifetime value of customer and really understand your audience and tell that lifetime
59:04
value story clearly. And that's why I love when sellers work with a company like Azoic, because
59:09
they do come to us with a ton of data about who their customers are, who their audience is
59:14
And it makes our lives very easy as we go to present that story to buyers
59:19
And then just understand that better lifetime value can improve both evaluation and deal terms
59:24
and more money in your pocket today. It's almost a no brainer, in my opinion, to focus on this
59:28
as a business owner, because you're making more profit today. And then the business is more
59:34
attractive in the future, meaning the trailing 12 month EBITDA is increased
59:39
and then the multiple of buyers you're going to put on that EBITDA is increased as well
59:42
And so you do the math there, I mean, it can lead to very, very
59:47
significantly increased deal terms for you at the end of the day
59:52
by making simple, easy changes that IZOA can help you with. Yeah, and I don't want to sound like too much of a broken record
59:59
I cannot stress the value of first-party data enough. Advertisers want to buy there
1:00:04
Publishers aren't presenting that information for them. So those that are, they're capitalizing tenfold
1:00:09
It's definitely something you need to invest in. Capture viral traffic. Get reoccurring audience coming back to the site
1:00:16
Understand the value of exchange from the formats and offerings you have. And then think about it from an advertiser perspective
1:00:22
Is the media quality high? Is it super heavy with impressions? Am I getting a return on my investment
1:00:29
So think about it from the advertiser perspective when you are going through those things and also the user perspective
1:00:35
But that first party data, I cannot stress enough, is such a golden opportunity for all you guys, whether you're utilizing it or not
1:00:45
Cool. Awesome. Well, I think that brings us to the Q&A time
1:00:49
I know we're at basically the time here, but we carved out extra time
1:00:53
So we're not in a rush to jump off if there is anybody who has questions
1:00:56
um alex you have a list of acronyms yeah sorry about you all the acronyms uh apologies for that
1:01:01
if there are any specific you want um you know to know what they are just you know reach out to me
1:01:06
afterwards uh here's you could scan this you'll get my linkedin just shoot me a message there
1:01:11
happy to answer any of those that you have um otherwise yeah feel free to
1:01:19
to jump in and submit a question in the chat, or there's a question tab as well. You can
1:01:27
submit your question there. I answered a few of them throughout the call in the question
1:01:31
tab So if you didn see that if you submitted one of those I think Chris had a question Charles had a question So answer some of those in the chat there But I give one to two minutes here
1:01:44
for people to submit some questions. If none come through, then yeah, we'll wrap it up
1:01:53
Yeah, I threw my email in the chat as well. If you guys just want to reach out and say
1:01:58
hey, there was a lot of information shared. Can you take a quick look and give me some insight
1:02:03
of what you see, what you like and don't like, I'm more than happy to do that. It's very enjoyable
1:02:08
for me to do, and I'm happy to help you guys out. Yep. Yeah. And I think after the call
1:02:14
you'll get, as mentioned up at the top of the hour, you'll get a email that has a copy of the
1:02:20
recording. And then I think we'll also be sending you some like checklists and things you can use
1:02:25
both on the Flippa and the Zoic side that should be helpful for you as well as you're either
1:02:30
looking to build up a business that focuses on lifetime value or if you're close to the exit
1:02:36
things that will help you gather everything you need to be ready to go to market
1:02:42
Cool. All right. Well, it looks like Ashley's typing. So we'll... Okay, cool. She has a
1:02:47
newsletter. It goes over a year period. Cool. 24 games. So yeah, Ashley's going to follow up with Charlie. That's great. Awesome. It looks like there's no additional questions. So appreciate
1:02:56
everybody's time. Yeah, feel free again, scan these. Charlie put his email and I'm gonna put
1:03:02
mine in. It's just jared.lawver at flippa.com. You can reach out to either one of us. All right
1:03:09
Thanks, everybody. Appreciate the time. Thank you. Thank you
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