Meeting Title: Brainforge x LMNT: wholesale Date: Dec 11 Meeting participants: Uttam Kumaran, Shivani, Laura Putnam, Robert Tseng, Madison
Transcript:
Them: Hi, how are you? Good. How are you? Good. I have a kettle boiling water that might be kind of loud, but there you go. All good. Can’t even hear it. Hi, Madison. Hello. How are you? Good. Thank you. Happy Thursday. Happy Thursday. Hi, Madison. Good to meet you. Nice to meet you guys. Yeah. Awesome. Shivani, how much context should we. Should we give on our side? We’ll wait for Laura to join and then we can. Oh, great. Cool. Okay, great. Is this Laura? Is that what you’re doing? So we were doing wholesale today. We’re one person. We just combined. Okay. All right, great. Madison. It’s. I’m like, so Madison I met my first weekend I went to the on site. Madison was eager to, you know, does a lot of the data stuff on the wholesale side. She was like, I’m going to start recording some looms for you. So you see what I do. And so I’M glad that today is going to be, like, the opportunity for us to start. Start doing something. Yeah, I was pulling data today. I’ll. I’ll put one for you. There’s. There’s no rush on that, but now we have a team that can, like. Well, I think that’s great. I. Laura. Hey, guys. How are you?
Me: Hello.
Them: Hello, Laura. Good to meet you. Sorry about all of the scheduling issues. Thanks for being flexible. No problem. No. Good. Thank you for being flexible. Yeah. Maybe I can start by just sharing a little bit. So we’ve got Laura and Madison from the wholesale side at Element, and then we’ve got a few folks from Brainforge on the call today. And what Brainforge is helping us with in this, like, three month kind of stint of a project is really focusing on the commercial side of our business and trying to bring all the data into one place. So eventually we can glean insights that are not just channeled by channel specific, but also once that data comes into a warehouse, hopefully it will enable us to gather insights a little bit faster per channel as well. So. So Madison, Some of the stuff that I imagine that you’re doing on analyzing just, you know, like what’s happening in the wholesale world, well, hopefully become more seamless once we start layering in. Better tooling, a BI tool, maybe even in the future, something we can query when the data is really clean so that you can actually just ask it a question and it’ll tell you an answer, Right? So that’s the vision of where we’re trying to get to. And then, like, holding the vision of the Omni Channel View so that if someday somebody’s like, how is California doing as a whole, we can understand. How it’s doing across wholesale retail, ecom, every dsd, every channel that we have. So that’s a little bit around, like the vision. And then I don’t know if we want to do, like, super quick intros that I don’t want to. Yeah, go for it with them. Yeah, yeah, yeah. So it’s great to meet you both. Yeah, we’re here to help you guys, you know, make a lot more decisions and, you know, make a lot more accurate ones and continue to grow. Love the brand, you know, big time electrolyte drinkers. So when I can afford to buy Element, I do, but I also do go to Costco a lot, so I get whatever they’re generic stuff is, too. Yeah. On our team, you have me and Robert. We both lead Brainforge. Both of us have a long background in data, you know, data engineering, analytics. So we work with a lot of cpg omnichannel. Retail brands, you know, you know, in your size. And this is sort of what we do every day. So we come in and we establish data platforms and drive insights. So you have me and Robert and then Awaish leads data engineering for us. And so the three of us are focused on, you know, helping you. Guys. Robert gonna lead today’s meeting, and it’s just gonna be sort of like bit of Q and A, walking through some of your workflows. But, of course, we’re also here to answer, you know, any questions about the way that we see things that other clients or, you know, just be. Another, you know, thought partner. So, yeah, maybe. Robert, I can hand it to you. And I guess really quickly, Laura Madison, any comments or questions on like high level highlight just for my understanding, like how much context does the team have on wholesale? And any of our like we going down to the I’ve given them some notes from my call with you so they understand that there’s like three you know, the specialty retail, the bulk buyers, the trusted health. Right. So I’m like, I haven’t had caffeine today. So they’ve given, like, I’ve given them some notes. But I think, as you can see, I might have. I think I shared a document with you of, like, discovery question they have. So it might be like, kind of like working through that and at a deeper level than what we talked about.
Me: Happ. Y. Bird.
Them: Okay. Yeah, just let us know if you’re, like, go deeper. That’s, like, too much detail for this call, so. Great. Yeah, that sounds good. Yeah, I guess I like the way that kind of responded to that. So I was gonna start with the questions and kind of let you kind of show. Show. I know Madison had something that she wanted to show. Really? We just want to understand, like, kind of first and foremost, like, what data you’re pulling and from where. And then I was like, maybe we should show you guys our two and a half hour block. We have to data together tomorrow. So maybe this will erase those meetings from our calendar. I hope so. Do you have a weekly two and a half hour block? No, we just have to like get super deep tomorrow. But so I’M like, we have a we have a day to day tomorrow. And I’m like, maybe those won’t be a thing anymore. Once what is the what is the pressing question that’s leading to the big block tomorrow? Oh, there’s some, there’s some pressing question. I’m building out like a five year strategy and like a hiring plan tied to that. So there’s a bunch of data points that Phil was like, you know, this would inform that that’s what I’m format that. So we’re like. Trying to get into all the weeds on the data to inform the five year strategy, but like, yeah, just that’s like an example of something that’s like pretty painful to get to the level of detail you need, especially on historicals and like, you know, this new segment thing, like, how do you look at the old versus new. Anyways, we’ll get it into it, but it’s just like very, very, very manual. And if it’s helpful context, I’ve spent the last 36 hours trying to download a report of wholesale orders and still don’t have it. So it’s like the simple stuff that takes a while, too. That is helpful context. And I think, like, a theme even from, like, talking to Dan is just like what? Having, like, historicals in one, like a warehouse with historicals, versus having to pull, like, monthly reports. It’s like that’s in and of itself is going to be a game changer. I think that’ll be exciting when we get there. Yeah, someday in three months. Yeah. Okay, Robert. I’ll let you kick it off with your questions. Okay, great. Yeah, I mean, I guess if we’re already on that track. So it seems like obviously getting, like, even historical data. There’s, like, looking back, present or future, Right? And so, I mean, if the look at the look back is, you know, three or four is just slow, that maybe we can, like, avoid that. I’d like to just kind of talk about, you know, like, what are some of the some of the things that you’re struggling to kind of like. Figure out like in, in the present. So, I mean, we have some, you know, basically like questions around inconsistent units of measurement. As you’ve changed systems, you’ve added new kind of ways of, new forms or, or new vendors in your system, like at just any of those types of like, kind of inflection points. That might have, like, cause to, like, some, like, riff and riffing data. Like, I think that’s context that we want to gather so we can better understand, like, what’s the path of least resistance. Because in some businesses, like, it’s easy for us to be like, look, just having historical data would be so helpful for us right now. And we just focus our efforts on just being able to go and get that and do that type of recon work. So that’s not interfering with stuff that you’re already kind of running in the present because maybe you’re not really in a place to be pushing out any new decision making because you’re still relying on maybe last year’s forecast or something. Yeah. So, like, I think that’s, you know, maybe just, like, one. One, like, door that I’ll open. And kind of see, kind of if you have any thoughts around that.
Me: Mar. Vin.
Them: Yeah, I think, like, Madison our resident data expert, mainly because she’s just, like, trained herself to how to figure out, with the, you know, lack of systems that we have, how to. How to make it work for what we need. So I feel like we could take that question in itself a lot of different directions. I think there’s, like, the historical piece, which is, like, I don’t think it’s just a time thing. It’s also, like, cleaning up the data so that it’s apples to apples with how it is now because everything is based on, like, tags and how our customer segments are set up in shopify. But I wonder if Madison. I wonder if it’d be helpful if Madison if we even, like, pull a couple, like, show, basically. How you’re pulling some of these things and like, some of the like, we could even show the questions we have for this fill, you know, ask on the data piece and just, just show you a couple examples of like, to get to this simple question of like, how is making up? I’ll pull it from the sheet. But, like, how is, how has wholesale revenue by customer and by segment changed over the years? So we’re trying to say, okay, if it’s going down per customer, does that mean, like, we’re getting less quality wholesalers, or is that because we’ve expanded into retail? So it’s like a big question to ask, but even to get to those data points, Like, it’s a very, very manual pull for this. And, like, it’s probably going to take a lot of, like, you know, chat GBT in our way into formulas to get us actual data that we do need. So would that be a helpful place to. I, like, I’m trying to give you enough, like. Concrete things that you can be like, oh, that’s this. But. Well, I’ll kind of share my assumption of, like, kind of how it works. And then you can be like, no, no, that’s totally not how it is. We do it this way. Maybe that’d be helpful. But if we’re spot on, then it’s like, okay, we can move on to the next thing. Sure, yeah. So I guess, like, I’m assuming with your Shopify tags, like, you know, maybe there’s, like, some sprawl in your tags. Like, as you’re trying to drill into segments, you have, like, multiple tags, maybe, like, the taxonomy of a tag just, like, kind of been updated over time, but then no one’s like, it’s not really clean. And so maybe the way you look at one segment today, maybe if you try to look at it, like, two years ago, the tagging was like, is, like, pretty different, right? So, like, is. That kind of, like, part of the. The problem? Yeah. Yeah, that’s accurate. Yeah. So, right. We went from essentially having one tag that was across all wholesale customers. So now we have segments. And so one, the second segment has been launched with this second set of a tag. And then, like, we’re basically taking a batch of couple thousand that were in this tag into the new tag. And so just to, like, get more granular on that. Like, for example, if we’re moving 2000 trusted. They were in trusted health before that first segment, and now they’re moving into specialty retail. So these are like grocers and supplement shops. They’re very different, like, buying patterns than a gym. So to look at, like, average order value of a customer, to answer, like, a question of, like, where’s the most value gonna come from in the next five years? Is it specialty retail or is it bringing on new gyms? That question is actually really hard to answer because all of those specialty retailers were sitting under the Trusted health segment before with that tag. And so, like, they’re about to get this new tag, but Madison would basically have to, like, manually pull it out by, like, email and customer ID to, like, say, okay, this is. That customer was just sitting over here for these years, and now it’s here with a different. Product lineup. Yeah. Okay. Totally hear you. And I think like one system that we set up typically, when obviously taxing to change the way you think about as you expand into new new marketplaces, vendors, we’re gonna use segments like maybe the way that you probably you need to update your taxonomy before. And so being able to match on email customer lists, like, those things knowing, like, hey, these categories need to change. We need to move them around. That becomes very easy to update once we have this system kind of up and running. Cause then you can just say from this point on, like, from that, from this date change, like, and you can just, like, create it as an input, and it’ll just flow through the pipeline very easily. Obviously, that’s not the world we live in today, but would you say that, like, kind of doing that type of, like, tag management really is, like, a big part of, like, where Madison you kind of spend your time is like, is that where it’s like. Is that where a lot of the friction is? Kind of. And sorry my Internet was cutting out, so if I miss anything, let me know. The tags are kind of an issue, but it’s more so the, like, historical data of someone. So the way we have customers set up for wholesale is if they had a normal account before they get a wholesale tag added to their account, and then their orders from then on are wholesale orders. So we have some accounts that were accounts that maybe started in 2022, but they weren’t a wholesaler till 2024. And that’s kind of where the data is unclear. So honestly, most of the time, I’ll just base their order history based off all time, even though that’s probably not an accurate caption of their wholesale orders. But we don’t have any, like, tracking and Shopify. That’s like date tag added. Got it. And like you like science and reference point for when we know they became a wholesaler. Would that be that Google sheet? And does that have a. Does that. The Google sheet? Yes. So that’s where it gets most complicated. It does. So we have a Google Sheet that is basically a feed of our application, which is a jotform, like totally external jotform that feeds into a Google Sheet and is where I track applications and onboarding status. Granted, that started when I started, which was two years ago. So anything beyond that, we have in an old application tracker, and anything beyond that one we don’t have. So our data is a little combined of those, but it’s also a little bit all over the place. And that requires me every time I pull a report from Shopify and I want to know something about their onboarding date, I then have to create formulas to bring in this old Google sheet data and compare like onboarding date to whatever Shopify saying like create data first order. And so that part becomes very manual. Okay, got it. Well, that’s not the worst problem to have, I think. I think we’ve been in situations where, like, when there’s, like, a state change like that, just like, a new account or new customer is created, and then you start to have, like, duplicates, right? And, like, that ends up being kind of, like, difficult. To manage that. Doesn’t seem like that’s the problem that you have, so. But yeah, I guess it’s kind of like relying on, like, another third party, like, data source, like, so Google Sheet in order to go and like, manage that. Okay, I know. I kind of like, what kind of deep. For context, for you guys, it’s like the CRM for this wholesale is in a Google sheet. And there are people who are like, at some point, does that become a HubSpot, a salesforce type of thing? Right? And so it’s like, that might be not like in this three month project, but that might be like, something that we scope for the future, and it becomes the inputs into the data warehouse. Okay, that makes sense. The biggest pain point from there that we’ve had is our Google Sheet is based on emails from the applications and when they make it into Shopify, a lot of times email will change or the person managing the account will change, and suddenly we no longer have a link to them in the Google Sheets. So even if we had data on them before, which is like their company name and they’re like onboard date and their phone number, which now we import them in. But prior we didn’t. Suddenly we lose that because it’s no longer Laura at Drink Element, Shivani at Drink Element, and we don’t have a connection. To connect them back to each other. So what I just did is we went through all of our data, trying to clean up and figure out everyone’s companies and what category they were in. And we could match some of them based on email, and some of them we were just, like, guessing based on address, but even then, we just don’t have tons of clear records on it. What was the match rate? Just like. Like how. How much were you able to get cleaned up, you know? Oh, that’s a good question. I don’t know, actually how many actually matched applications. I would say it was probably about. 2000 out of the 13,000 like that were easy matches like very well. Okay. Yeah. Yeah. Okay? Yeah, I’m just trying to get, like, a magnitude of the problem. Yeah. The match rate discussion is interesting too, because I think also we have inconsistent data. On, like, per customer. So right now it’s like, so the. And maybe it would just be helpful to show that Madison on the back end of like, the application versus so it comes in via our website application and then goes to the Google sheet that we can show you. But then the other, like, inconsistency and hopefully this will get a little bit better when we have Shopify B to B in place. But like, sometimes when we’ll switch their email, sometimes they’ll switch their default address tied to their business, which is tied to, like, a resale certificate and tax exemption status. And then sometimes people will add a company name, and then they won’t, and it won’t match the application. So there’s definitely, like, Because it goes to, like, a static place on the Google sheet. And then there’s the Shopify account. Sometimes, like when we did this big data analysis project, like, someone’s got a Gmail and what they’re originally applied under, they’ve, like, since changed that, and so Shopify doesn’t match. The application, and then we have to reach out, be like, can you clarify your business and how you’re selling element? And that was that, like, super manual process. Okay? Great. Yeah. I mean, I think a lot of this cleanup work, you know, is it really kind of, this is similar. Similar themes to kind of what we’re. As we talked about E. Comm. Side. And so I. I think this is, this is good context for us to know kind of, you know, what that cleanup work. Looks like for. For your. For your team. I’d like to spend some time kind of asking about like, rate you’re, you’re building this five kind of this five, five year forecast, you know, how is this kind of round of planning, like, different from like, past? Like, what new inputs do you have? Like, I mean, I guess, like, I mean, I, I. Do have, like, a kind of demand forecasting background, I guess. Like, I can kind of understand maybe some of the nitty gritty of. Of it, but I’m just, I’m just trying to kind of get a, get a sense of, like, what, what would be helpful for you? I mean, as you’re. Kind of obviously doing this really large exercise. Yeah. So part of. Part of what I’m trying. So it’s. Madison and I, we are the wholesale team. And so part of the ask is like, okay, you know what? What’s gotten us here is not going to get us there. And, like, we already have that at, you know, when. When I started there, was like, 200 partners on board. Now we have 13,000. Okay? So. And it’s still managed by just the two of us. So the. Yeah, I’m like, so the, the vision is around like, okay, so what are we trying to accomplish in wholesale from both, like a revenue and, you know, partner growth and all the things that come with that across especially launching this new segment under wholesale. And then tied to that is then like, okay, what team structure do you need to support that growth? And what does that look like over the next, you know, three to five years? And so part of the, like, challenge, it’s, like, kind of cathartic timing to have this call because I’m, like, part of the challenge is. The question out there is, like, okay, so how should you structure your team? And so, like, Madison and I are trying to figure out where. Like, we just. We’re trying to pull the data to understand, like, okay. What do these different segments need, like a trusted health gym, a naturopath sauna studio? Like, what do they need in terms of an account management relationship versus these specialty retail chains that are coming on that are, like, you know, very different. Higher volumes, more frequent orders, like they’re managing their store inventory. Like, on a day to day basis. And so the feedback that I’ve gotten just, like, right now is that it’s too general on, like, what a new higher on our team would look like for next year, for years beyond that. And so part of what we’re trying to build out is, like, Potentially this, like, account management structure tied to all these accounts, but to get to, like, actually. Is it the size of the account that matters of like, okay, they need a dedicated account manager when you hit this threshold. Or is it, is it like, oh, trusted health accounts, like, they are lower volume, but they actually are a lot higher. Like, I don’t know. I’m making all this up, but we’re trying to basically figure out the data points now to articulate, like, how we should structure our team tied to this, like, segmented approach within wholesale and, like, what kind of account support they need. So we’re like, little things around that of even, like, customer retention and, like, lapsed wholesale part. Like, we just, like, don’t even look at that now because it’s like, it’s so manual. One, to get the information, and then two, it’s like, @ this point, Oh, like there probably should have been a point up to this point where it’s like, oh, that person has gone a year. It’s like almost too awkward now to reach out and be like, so what happened there? But if we had maybe seen at the three month mark and then the six month mark, like in some kind of, like, automated way of, like, bucketing the accounts to be like, okay, like, this set of accounts could probably use a call at this point or a check in. And then maybe it’s like we have some account manager that’s like, hey, I just realized, actually, that they didn’t realize we launched. Sparkling and they can only carry whatever. I’m making all this up, but like, yeah, I think there’s like the day to day data inputs that tell us things about the segment that then Madison and I can structure the team again. And so we’re just like. Yeah, that’s part of, like, what we’re jamming on tomorrow is just try to figure out, like, okay, what can we have that tells this story? So we can start, like, hypothesizing of, like, what does this look like from a. I don’t know. Do we need, like, 10 account managers, or do we need, like, one per segment? And then we use our customer service team to support, like anyway, so answering a question of even, like, what hires do I need right now is really hard. Like, I don’t know, we don’t have the data right now that tells us. So that’s. Yeah, that’s kind of like the most immediate challenge, I’d say. And in this three month time frame, like the question that we are tasked with answering, Yeah, got it. No, thank you for that. If I were to kind of just, like, kind of break this down in, like, more data speak for our team to be able to understand. So, I mean, like, obviously, you’re kind of. You and Madison are going to create a kind of a structure for, like, what does this hiring. Kind of like plan for each segment, like really look like and where we can really kind of go and be your hands and feet to go and figure out is like and gathering the, the quant, the quantitative and any of the and maybe even helping you think through the qualitative inputs that you’re, that you’re gathering as well. On the quantitative side, you kind of, you mentioned some, you mentioned some things about customer retention. Like, I think we’re aware that, like, retention is like a kind of a, a hot topic or just like, not really, it’s not really settled here yet. Like, I think obviously there’s different views of looking at it. I mean, I guess my understanding is, well, yeah, I guess how, like, if there are other metrics, are there other metrics that you feel like, are important to kind of help you build this. Build this story for, like, how many. Like, what. How much? Like, I mean, there’s some. There’s obviously some relationship between. Yeah, like you’re, you’re team’s growth kind of on the supply side versus, like on the demand side, like the revenue that they’re able to serve. Maybe it’s by account number, maybe it’s by revenue, maybe has. Maybe it has something to do with like, like the velocity of like. This of, of. Of how. How fast they’re selling as well. Like, I don’t know if you could speak to any more of those types of dynamics. Does that make sense? Yeah, yeah, yeah. A couple thoughts. Yeah. I can’t tell if Madison was trying to jump in. You might want to turn your video off, Madison, because it keeps. I don’t know. Yeah, I have some thoughts. Do you want to jump in? My only initial is doing, like, growth rate by segment. So now that we have people in these buckets of different types, we’d love to know, like, you know, are the gyms in studios consistently always going to stay around the same? Like, we’re focusing more on those who stop ordering versus the retail. Are they constantly growing in our focuses on growing those accounts and helping them sell more and trying to paint a story with the data based on those segments. Yeah, I agree with that. I think, like, some of the basics that we can pull now and, like, average order volume and but I think, like, the trends of those and like painting a picture of each segment so that because I think that then is going to tie to our. We’re going to have to get more granular in our growth goals of like is bringing on right now it’s by like wholesale partners in general, but like I think bringing on 100 gyms. Revenue wise is a different picture to hit our revenue goals that we’re also projecting, then maybe that’s one specialty retail account with five stars. So I think like by segment two, like all the, you know, just like average order volume, average order frequency. Like, basically I think like, how many like, net new accounts do we need to bring on in these specific segments. And then like, does that look totally different than for specialty retail? Because that’ll also go back to the the team structure question of like how your staffed against that. I think the lapsed order. I think it would be really interesting too to have better data on like just even for projecting, for example, like we launched the 16 ounce sparkling last May. And then we launched 12 ounce sparkling to just wholesale before it’s going to our D2C customers. So like even, even just like look like it took me like an hour to train the CXAS on a call or CX team the other day of how to look at like sparkling versus 16 ounce and like, you have to pull, like, you know, this report and then make it into a pivot table. And then, like, the product names are all weird, so you have to, like, filter out the ones that actually aren’t relevant to this wholesale one. So to get a picture of, like, okay. If someone came to me and was like, how’s 12 ounce doing in wholesale? And what has that done to 16 ounce sales? Is it cannibalizing 16 ounces or is it incremental? That would take a day to answer that question. Probably. Yeah. And that if the report downloaded. Yeah. Got it. Yeah. I think, like, what makes this unique, from what I’m hearing, what you’re describing, compared to, you know, normally, like, we. We try to get Lao to, like, the, like the, like the basic unit of measurement, or it’s just like at the. At the SKU level or the product level, but. You need, like, another tier. You need another class of products that’s, like, unique to wholesale. Right. Because you’re the, the types of orders. Because. Oh, answering awaits this question. Yeah. So, like, I, I think that that makes sense. Like, I think that’s another layer of modeling that, like, we would have to do. In order to help accelerate that process. But, yeah, I mean, I’m assuming that, you know, that that’s just like, kind of. That’s just creating like another, another, like, level to, to how we think about how, how we think about products. The account question is interesting because. Yeah. Do you. How do you treat 100 gyms versus, like, one specialty studio? I guess, like, you know, assuming that, you know, the specialty segment is pretty new. I. I guess I actually don’t know your mix of, like. I mean, I’m just going to call it, like, smaller. Okay. Our core is the gyms and the health. The interesting part, though, like, I think it’s like, these are approximate, but we have, like, 13,000 total partners. 1500 of those. Are these, like, bulk buyers. That. And this is another piece that’s. Actually interesting is that the revenue by segment is now going to look different too on like the product level. Because now the the pricing has changed across each segment. So the bulk buyers just now get the same product that Trusted Health Partners got, but now it’s just increased pricing. So like, but the bulk buyers segment, like the probably net number of accounts is going to stay the same, but revenue will likely go up unless people are, like, not going to pay that much anymore. And then specialty retail, they were sitting like, so all the net new specialty retail, they’re on hold right now. So we haven’t even onboarded them. But it’s basically transitioning over ones that have been sitting in this one. And now they’re getting a new product and moving over to a new pricing structure. So some of the questions we have on that, too, are like, these people still going to stay in the program, is it? No. Like a lot of people are upset about this change. So we’re like the lapsed accounts piece there. Like, part of what we’re thinking about even when we roll this out in January, is like, how do we look at those specialty retailer. Like, what were they doing when they were interested? Health. And they were buying 30 counts, and now we’ve moved them over to this SKU. These customers, are we growing with them like some of. Some of those questions? Do you roughly know how many, like, kind of like computer customers are going to be impacted? Yeah, probably. Yeah, it’s about like, probably 10,000 are the trusted health practitioners, things like that. Both buyers is like 1500 ish. And then the retail somewhere around like that, 1500. So it’s a smaller portion of the total customers, but probably a different revenue structure. Okay? Got it. That makes sense. Wow. No, this is. This is. This is really great. Yeah, I mean, I guess. I mean, I want to be also mindful of, like, timing wise. Like, I feel like I. I kind of drove us down this rabbit hole, but I feel like this was helpful for us to kind of, like, back into, like, what’s. What’s the end. What’s the end goal? In terms of, like, what you need for, for your planning for your, for your client exercise. Kind of the different, I mean, hopefully awaits also seeing this now, like, the different layers of, like, modeling that we’ll need in order to help you get there. I guess, like, we haven’t really talked too much about, like, metric definitions. And it seems like you, it’s. That’s not really a problem. You kind of know what you want. It’s just hard to get. And so I think that’s. That’s a better problem to have, I suppose, because that’s something that we maybe are more able to go in. And chase down and basically do the dirty work of, like, getting it faster versus, like, helping you make those definitions. But are there any kind of, like, kind of question marks on, like, hey, we don’t really know how to measure this. Like. Yeah, like, I guess, like, missing. Missing pieces to the puzzle in terms of, like, what. What you’re hoping to measure for your team so far. That you can’t do with existing data, that it’s just like. Maybe better, like more urgent than a nice to have, but, like, yeah, something like a P1 that’s not necessarily like a P0. Like, yeah. Yeah, I would say we have, like, all the standard ones that are available within the Shopify reporting. I think it might get. I think. I don’t know. Like, the other answer to that question is I don’t know what else is out there. That we’re just. That we are. Like, that’s an easy thing to look at that would tell us, like, some of these answers that it’s just, like, it’s not in our set of tools available to us today. So we’d always be open to understanding. If you’re like, hey, this is actually a really interesting metric that can be, like, pulled in and would tell you the answer to those three questions you had. And then I think the other piece will just be, like, the product mix question down the line. So part of what we have planned is more of, like, investment strategies for these accounts. Like, for example, This year, we launched, like, a drop of refrigerators, where we pay the. You know, we pay for the fridge, you pay for the shipping. So it gets tracked as, like, shipping revenue in the account. And because they’re buying it on Shopify, but we’re actually paying more for the shipping. So, like, I, like, work that out with the vendor in the back end of billing it back to us, but it’s coming in as revenue, for example, and then it’s essentially a cost for us. But. But and I have the finance team, like, manually removing that, so it’s not, you know, artificially inflating our revenue numbers. But as we do more programming like that, a big, like, strategy moving forward is this, like, joint investment strategy. And so I think just like, like, some of that might be, like, highly subsidized. Like merch assets, things like that, they can buy in their account. So I think looking at different, like, products. Yeah. That are actually costs, but they’re coming. Like, I don’t know, some. Some way to think about that would be helpful. Yeah. We know this problem very well. Like other top five companies. Yeah. Like, you have different ways of creatively bundling, adding all of these free gifts, and it’s not free for your case you’re, like, co. Selling with someone else. Yeah, yeah, I understand that Shopify reporting just, like, breaks when you do that. Or just. Yeah, they just don’t really do that well, so. Totally understand that piece. But, yeah, I think that’s. That makes sense. I’d like to. Okay. Well, yeah, so that, that kind of, you know, from, like, a basket mix perspective, making sure that, you know, orders are breaking down the way that you expect them to, and, like, you know, the margins are actually kind of more like, are accurate. So I think that that makes sense for, for, for the. Rep for that revenue synthesis piece. We. If I could go back to the account, kind of. I guess I’m going to call it like life cycle, like. Maybe I missed it, but I. But I think you were saying something along the lines that, like. Yeah, like, there’s like, these forced migrations almost, where you’re forcing people to kind of. For seeing a certain class of accounts to move into a different one. Is that. Does that. Do you have a framework for tracking kind of, like, different, like, levels to this? Like, is there. Is there, like, a mix that. An ideal mix that you’re going for, or, like, how do we think about, like, I don’t know, account lifecycle? Is that. Is that really something that really matters? For you right now. Just to clarify. So you mean, like, do we have, like, a target where we’re like, hey, the. These need to, like, move over to this to, like, hit this specialty retail target? Is that. Yeah, from, like, a portfolio mix. Like that. Portfolio mix perspective. It’s like, you. Your target is 20% specialty and, like, hey. Yeah, yeah, no, I think. I think that is probably, like, would be helpful and where this, like, strategy tied to team structure and how to think about the segments and, like, the mix would be helpful because right now, we don’t really do any, like, proactive prospecting of new accounts. It’s like, yeah, they’re all inbounds. And so part of that is to, like, okay, we build out the specialty retail channel. Like, should we go after, like, should I have a dedicated person that’s like, business development essentially for this channel to get that fix? The the four segmentation right now is literally based off, like, you’re this type of partner, you get this skew because it doesn’t make sense for you to be carrying this one. You’re like a grocery store, not a gym. So that was just based on, like, Their existing type of, like, their partner type that they are. Okay? Makes sense. But I think that question on like, the special, like, if we’re like, okay, 20%, like 80% of our total wholesale revenue is coming from 20% of our accounts, that be a helpful, you know, like, we should probably be going growing this segment more like focusing on that. Right. Yeah, I’m actually surprised that. That like, 2k to 13k growth is mostly inbound. Like, that’s. That what you said. That’s kind of crazy. Yeah. Yeah. But I don’t know. That’s another, like, data point that we’re thinking about. We’re like, okay, like, even looking at inbounds and, like, net new accounts over time. That’s something about Madison and I are going to be pulling and looking at tomorrow, too, where we’re. Like, hey, you know, is it is a total number of accounts going down, like, there’s only so many gyms in the world and things. Like, I think the other big question too was before we launch in Walmart and Target and actual retail, the only place you could buy element in person was from one of these. Wholesalers. But now we’re essentially competing with our own growth in the retail. Side, so. I think, just, like, understanding. Yeah, like. The the question of like, yeah, the applications and the account growth and the trends over time will also inform like, hey, we actually probably need to pick it up on the proactive targeting if we want to like, stay growing at this, like, we’ve hit sort of this saturation of like, if people that are coming to us or wholesale. Right? Yeah. So, like, as you’re increasing your penetration, your market, obviously you’re expanding other channels. There may be some like, cannibalization impact from. I mean, you’re talking about Walmart in retail, but maybe even E Comm as well. And like, not really being able to. You don’t really know how that kind of. Kind of how that. How that really impacts the wholesale business right now, okay? Got it. Yeah. I mean, those are kind of covered, like, all the broad kind of bases that I kind of originally kind of came in wanting to ask about. Do you feel like we miss anything? I guess, like, one thing I didn’t end up kind of. The pattern go down. Like, I actually thought that maybe this was more like. You know, trying to understand, like, current, like. Sell, like, selling like performance and like reorder cycles and like more of an operational kind of like. I thought that we were going to be talking a lot more about, like, wholesale operational data, but it seems like that’s not really what your focus on currently, so. Yeah, well, I think we just haven’t got to that yet that’s a whole other part of what Madison and I manage. Like, there’s so down to, like, because we’re integrating a lot of this investment, like refrigerators and merch kits, and we manage the inventory on all of that, too. And so, like, our inventory planning and, like, basically, like, so. The way our customer journey is structured right now is like you get automatically, you get onboarded, you make your first purchase, you get an automatic send of your welcome kit, which is like, essentially a free first order. And then your next unlock is at your third purchase. And so part of when we were originally looking at the data to say, like, okay, because then we’re asking ourselves, okay, how many? How many? Sorry. How many orders? Sorry, my housekeepers are trying to get in the door and my dog is going crazy. No worries. Sorry about that. I’m sorry. That’s. This dog is a little crazy. So, anyways, part of that is. Wait. Whoa. Sorry. Remind me right where I left off. That was really distracting. No, no, you’re good. You were talking about the customer journey, the inventory management. Okay. When we initially planned that, like, order volume, we were like, okay, on average, like, how quickly are people hitting that third purchase? What’s the, like, life cycle of, like, how long? Once you place your first one, and then you’re getting a free order. How when’s your next reorder and is the first or second reorder like pretty comparable or getting to that third order actually takes a lot longer. So we definitely like over projected on our first go at that for the third purchase kit. So like for example, now we have a lot, we have so many of those third purchase kits sitting in inventory. And I don’t know if this is helpful, but I can pull up our. And some of them are actually, like, coding out on some of the sample SKUs that are in there. So there’s a lot of, like, ops question. Like, we, I think we’re unique in the business unit that we basically manage, like, everything in, like, the ordering, the inventory, planning, like, which warehouses is it chipping from and when’s it essentially going to go out of stock? So, Madison I have just built our own like management system of this, but all of this then vendor ordering. But I think like the purchase because things are tied to purchase and unlocks. Even getting to estimates too of like this is just like one question I’m currently figuring out. But like what should the threshold be for when you’re able to unlock a refrigerator. Like, do you hit a certain amount of sparkling spend and then unlock it? Should it actually be lower? Because that’ll allow people to sell sparkling faster. Like, so with this first drop, we’re just going to just start seeing. How much have they spent on sparkling to date? Like, when did they get the fridge? How is their spend on that change since then? So I think there’s definitely a lot there on, like, the OP side that we manage and would inform, like, how we make some of these decisions on, like, inventory and new things that we add to the journey. Yeah. Super cool. I mean, I. I didn’t realize. I mean, you’re. You’re like a. Like a complete P and L owner for, like, the full self business. So, like, I. This is a lot more. A lot more scope than I. I thought. So, like, I think this is great. And I. I think I. Mean to me. This is like more traditional customer lifecycle. Kind of like ops. Ops work. And so, yeah, you know, like, you’re basically trying to drive repeat purchases and, like, using different kind of like, levers to try to get people to go to their second order. So, yeah, I mean, really, really fun problem to solve and yeah. Yeah. So, like, I think that’s. That’s. That’s. That’s great. Like, just to zoom out, Laura, for my context. Like, when you think about, like, looking at the monthly financials and things like that, and you’re like, okay, I have my okrs, and where am I relative to my okrs? What do you. Are you. Like you had mentioned, maybe we’ve reached some sort of saturation point with people coming to us. So, like, what are like the macro? Like, maybe you’re just a primer of some of the five year things you’re thinking about would just be also helpful context. Yeah. Is it okay to share that like my okr? Yeah, yeah. Ok? Yeah. I can give you just kind of like an. Like a snapshot of some of the things we’re looking at, but. So I think this is this report from this past month is actually a good example of. Like I weigh over this is just like my own report or forecasting, but like I weigh over projected that the incremental growth of launching 12 ounce was going to basically add to our total base for sparkling. So I do want to dig into this one. Like some of it’s just like we had a bigger seasonal dip in November than I had anticipated. And then the, like, sparkling ramp up was a lot lower. This is also another really interesting one. Like, this was a, like, on average, we’ve been closer to this 300. So, like, 120 is, like, very low for applique. Like, when Madison and I saw that, number, we’re like, oh, yikes. So, like, that’s, like, a lot lower than we had anticipated. And then obviously, that impacts, like, the next because, like, those first purchases that we were counting on for 300 plus are now not hitting. I think, like the application to. To, like, onboarded ratio is also interesting. And then we have like, a whole. These ones are probably not as relevant anymore, but, like, a lot of what we do is, like, events and sampling support. So just looking at, like, you know, how. How are those, like, free samples that we’re sending out? We support all of our wholesale partners events with free samples. Like, is that actually, are they then getting like, a lot of net new customers from those free samples? And so, like, then I’m answering the question of like, okay, so sampling should be a much bigger part of my, like, investment dollars that I think about for wholesale. And then. I think for spend as well. Like, I think just like the, the budgeting right now of how I look at it is. Definitely like. It’s like, kind of. I don’t know how to say this. It’s like. It’s not very strategic. Like, it’s kind of like I’m like, okay. This is, like, about what I’ve spent in the past as a percentage of total revenue. Yeah. If I structure this refrigerator, unlock. So they have to hit this amount of spend. That. And then, like, we literally pull. Like, that’d likely be, like, a thousand customers next year that would be getting this. So, like. Yeah. And then I, like, put that in my budget, but then, like, on a tracking on a monthly basis. Like, sometimes I can just be so off because I’m like, oh, wait, actually. That many more hit it that month. And so we had a big event and I had to order more. I’m making all this up. But that like on a month to month basis because. And the hard part about that is like the orders on all this stuff, especially some of our, like, bigger, like permanent displays and things. The lead time on those is pretty long. So getting to, like, what Madison before, with our forecasting tool, it’s like I’m kind of ordering, like, six months out based on, like, a kind of rough projection. Yeah. So. So, like, this, like, 120 applicants kind of thing. Like. Like, I guess it’s like. 300 is the goal. 120 is where we came in. It’s, like, hard to really diagnose, like. Oh, diagnose or predict. Right? It’s like, okay. And, and there are like some things, but like for example, in the peak summer months, like at one point we had like 6 to 700 applications. And so that, that even that 300 average is like, is an average. And obviously, like, but. And there’s like a couple things we can look at of, like, did we post about wholesale, for example, like on our element social, like some people learn about it there. We’ve been doing a lot less of those sort of posts. So, like, that’s usually not really a driver right now. The only other, like, application driver is emails that we send out to, like, our whole subscriber list. And. Those can be very intermix, like, sometimes open rate on there so low that it’s like, I don’t even know if that got us any. So there’s a really big variance. And so that’s another, like, I think data question that would then inform, like, You know what? We’ve been talking about, like, implementing a referral program for something. Like, do you get an incentive if you refer a partner? And, like, does that, like, basically just like, is this. Yeah. The prospecting, how much of that should be in our strategy moving forward in, like, a dedicated role based on, like. Yeah. Kind of. And then you also mentioned, like, retail cannibalization. And that is more like. Customers are buying from retailers as opposed to buying from wholesalers. And that’s the cannibalization we’re seeing, like, hypothesizing or it’s like, Like. Like I talked to one person on the phone who was like, just tell. He runs a tennis center. And he was like, I just buy things from Costco and then I sell a single packs, basically. Yeah, yeah. So then I’m like, once you get into Costco, that’s. Part of its pricing, for sure, where someone’s like, Okay. I mean, we actually increased our D to C. And I don’t know if I’m telling you guys way too much, so just like, if you’re like, this is beyond the scope, but we actually increased our D to C pricing on sparkling because there wasn’t enough of a price. There was the. Same minimum order quantity, so you had to order three 12 counts, which is like, you know, 82. For D to C. All these wholesalers were like, why would I buy sparkling from you guys if you sell it on your website, The same minimum orders for essentially, like, whatever. The breakdown was 20 cents less for me. And then where I make my margin is selling on a single can for 350. Like, why would anyone buy from me when they can just go buy it on your website for less? And so then we increase the sparkling pricing. For D to C to, I think, 88. So now it’s like 88 versus 72 for wholesale. So there’s, like, enough of a difference there. And for D to C, like, that’s a much bigger. Like, you got to be ready to shell out 88 bucks. On, like, a big order of sparkling. And so, like, some of that’s like, oh, as a wholesaler, you can sell a single can, or you can sell a 12 count if you want. But then as we’ve been in Target now people come the questions I get and have to, like, come up with responses to or be on angry phone calls with wholesalers. Like, anyone’s like, why would anyone buy this for me when they can now just go buy a four pack at Target for, like, basically the same price. And, like, what’s the incentive? And then it’s is a tough one to answer right now because you’re kind of like, well, you can sell cold ones at like, the moment of convenience that someone wants it after a workout. But, like, if someone’s going to buy their stock up, they’re probably going to get it at target. Yeah. I mean, are you expecting, like, customers to repeat purchase from wholesalers? Like, wouldn’t. I mean, I would imagine it’s more of like a first. First order kind of thing. Impulse buy at Interesting. Yeah, like, I think. I think there’s so. The challenge that we’re going to face in this specialty retail side. You’re probably just like, well, this is really fascinating for, like, a whole context now, but, yeah, the, the trusted health segment, they get, like, over 50% margins. Actually, like close to 65%. If they’re selling a single for $2, you’re paying 75 cents for it. So they can actually make like, a pretty solid, like, for, you know, not even, like, market the product, but, like, that, I think, will continue to do really well for the people that are, like, grabbing a stick pack after the gym. And so that’s where we see, like, a decent amount of, like, people are still buying at that, like, point of, like, you’re at the gym and you’re adding into your water ball. I think where the feedback in the past that was always tough from wholesalers was like, okay. But then if they discover element through me. Then they can go get it for cheaper on your website via your subscription model. So we started allowing wholesalers to offer the same like it, it eats into their margin a tiny bit, but because their margin is so strong, like, they can actually match that and have their customers buy three boxes, get one free from a decent amount. Of that because, like, their margins are so strong. But now, as we’re moving into specialty retail, Their mar. The margins for that groups, like, dropped to 30%. So there’s, like, a lot less flexibility of, like, Likely some. I imagine what will happen in the specialty retail segment is like someone will buy it once from this supplement shop. And they’ll try it so they can buy it at a lower price point, either a stick or a 12 count, and then they’ll probably just like, buy on subscription on our website. Yeah. Or they’ll like less free. I don’t know, it’s just, it’s so much more expensive per unit now for a specialty retail, like, I don’t know if anyone’s going to do their full stock up at that point. Yeah. So. That’s a, That’s. I don’t know. It’s like. I think that’s the biggest question we’re trying to answer too, for the future of wholesale tied to our e comm business and retail is just like. And we’re also launching our own, like self distribution. So we just. Have a lot of, like. We’ve, we’ve grown our, like, footprint and the touch points of where you can buy elements so much that, like, it no longer is, like, oh, if you wanted to buy it in person, it was at a wholesaler. Yeah. That’s super helpful.
Me: Okay?
Them: Just, like, let me know if you have any thoughts and you have the answer for that. I don’t have the answer, but I’m like, yeah, like, my brain is just going to like. The, like, the way to see, like, I, I don’t. I. When you think, like, how do I test for cannibalization, right? Like, how do I test for that? Like, my brain goes to. Without, like, actually having. All the transaction data of the end customer and things like that. Like, my brain goes to having like more GEO breakdown data to see, like. Oh, like, like the targets are really increasing sales in Southern California, but the gym wholesalers, like I like, to me it goes geo, but I, I don’t know if that’s. Robert like, when you think about, like, how to actually see what’s happening, if the question is, like, is there cannibalization happening between these channels? What are, what are some things you’ve explored with other companies? Yeah, I mean, I think GEO is definitely a way, a way to go that helps you, like, localize kind of like the inflection points, like, there. But then also you. You have to look at multiple, multiple, like, levels. You have to also look at it by. By, by channel as well. Right. It’s like, I. I think, like you said, once you’ve expanded your footprint to a certain point, As you kind of expand, like, you’re kind of starting to encroach on other channels territory in some way. I think that’s just how it is. Like, customers are not, like, purchasing exclusively from one channel. They’re free to choose from a bunch of different things. And so it becomes very important to understand, have that unified customer view. And to really understand. And we’re hypothesizing, like, all of these different, like, anecdotes of what is, what could be happening. And they’re probably all true stories, but, like, what is the data actually telling us is happening as you for free? And it gets down to the type of product too, right? So, like, a sparkling can, like, that customer journey is going to be different from, like, the, you know, like the, like the little packet. So, yeah, I mean, I think that’s. That’s the, that’s the exciting. That’s exciting work that hopefully we can help you unlock. Like, I know, and I think, like, yeah, go ahead, Laura. Oh, I was just going to say, I think, like, the question that Madison and I are trying to answer, too, for the organization is like, what is the role of wholesale. Maybe the ultimate answer is like, we are not like, you know, our revenue targets. Like, we have our targets, but it’s more like, because actually, the value in the wholesale channel is essentially like you’re sampling it with a person that is like, basically a sales rep for your brand for free for us, like, on the ground. And so part of like these joint investment, like we’re basically like building all these like salesforce of 13,000 super brand loyal people that are talking about element at the point of purchase versus you go to a target like you can barely find it on the shelf. And then like so part of the question then. We’re answering too is like. Maybe the answer is like. The, you know, the growth in wholesale is like capped at a certain point. If it’s like the pricing structure is better on E. Comm, blah, blah, but like, then that becomes more the role of wholesale. Is this like more salesforce type investment for us or something? That’s kind of like how we’re thinking about it, too, is just like, like, the macro. Like, where does this fit? Fit in? Yeah. And, like, is revenue, like, ultimately the, like, driver of success for us, or is it actually, like, some of these things we’ve talked about where it’s like, we brought on the X Men partners. They’ve been a partner for four, four or five plus years now. Like, they’re out, like, repping the swag that they got in their merch kit, which is then in the like. So is it a different, like. Metric, I guess, of, like, how we look at wholesale growth and, like, the contribution to the overall business than just, like, revenue. Oh, so interesting. Okay? Yeah.
Me: Okay? Are we using? Like where to go? Also for warehousing. Warehouse. Like the wholesale orders. For shipping.
Them: Where do they go? Or the. The where to go? Do you know the where to go? Yeah, yeah, yeah, yeah, yeah. We. So, yeah, all of our orders, like, flow through the same fulfillment process. The only time they don’t is if it’s like an external thing, like this fridge order, for example. Like, I manually send those to manufacturer, right? Now because it’s not integrated. And we don’t store refrigerators in our warehouse, for example. But everything else flows through our same warehouse. Okay. Well, I mean, I just want to kind of give you a heads up of, like, what’s coming next, I guess, like, coming after this call. I, I’m sure we’ll talk to you again, but, like, I, you know, hopefully we could bring this back with Shivani and really with, with these interviews that we’ve been doing with different stakeholders like she’s been pointing us to. Yeah, we’re just kind of breaking that, Breaking them down into. Opportunities and then kind of helping, helping her prioritize, like, from a data perspective, what are the quick wins based on kind of the things that you shared with us and to help us build out, build out a longer roadmap. So I think that’s, that’s kind of, you know, hopefully we’ll be able to socialize that with you once we come back to it. But if there are any. Yeah, go ahead. I was going to say that. So, just to give you both a sense of timing, what we’re aspiring to do, like, is decide on a couple tools in the next week. The tools being how to actually extract data from our systems. So it’s called, like, an etl. And then the other tool being the data warehouse that we choose to go with to store our data in, and that would be data that we’re storing from Shopify, from Amazon, Seller, from like, ideally, then we’re also bringing the retail data into that warehouse and things like that. So the hope is that, like, right now, we’re going through in these, like, this sprint. We’re talking to you, Blake. Carlos. That’s kind of the, like, e commerce and wholesale squad. And then we’ll do retail conversations in January. Okay. And we’re hoping to decide on the tooling to actually start piping data into a warehouse during rest and assess because. Because it actually takes time to, like, get the data extracted. There’s a lot of rows. There’s a lot. So we’re doing these downloads and then the hope is actually to start piping the data during rest and ss. So it’s just like, give you a sense and then, Robert, I don’t know if you have any other high level, like time markers you want to just share, because it’s like once the data is piped, then we need to make sure we’re all speaking the same language about the data and like organizing it well and things like that. So there will be more, but I think we’re just trying to get primers on what is the data that we’re ingesting into a warehouse. And then a wish. I don’t know if you want to speak to that at all in terms of, like, what would happen after.
Me: Yeah, like, once the data. Like, isn’t. Isn’t the, like, the data warehouse, what we are going to do is, like, start with, like, the modeling of that data. So, like transforming the data coming from multiple sources, like wholesale, ecommerce, retail, and then maybe join it together, create a unified view of customers. Then also create models like, which have basically sales volumes. And then you can check in like C in a single dashboard. You can visualize it.
Them: Yeah.
Me: By the ecom channels or by the wholesale, like how how the sales is going. And then also you can have more data flowing in from marketing spans and and things like that. And you can also match those to to get like cac, like customer acquisition cost or things like that.
Them: Perfect. Yeah. And so, like, that, hypothetically, if I had this strategy that I’m working on, I’m just like. Is like. Because Madison and I are obviously going to pull as much as we can manually on this, but, like, if I’m working on this strategy to, like, present, you know, maybe, like, really fast, like. I need a January sprint, too, to refine it. But, like, do I. Do we imagine at some point in January, like, I might be able to go in and see some of this stuff? Or is it like, hey, you should do what you. But it’s in the data warehouse. It’s like, okay, millions of rows. In a data warehouse. So, Robert, maybe you can articulate. When will this actually glean useful? Like. Like. Like if. If Laura wanted to say, how many of my wholesalers have made like a third. I’m just making up a question, like, how many of them have made a third order or something like that? Is that. Something we could get to, like, pretty soon after the data is ingested from the wholesale data or, like. Yeah. I guess. Yeah. I think part of this, like, prioritization exercises to kind of help you. I mean, we’ve heard some of the questions now. I’m going to come back to Shivani and tell everyone the easiest questions to answer. Like, we can we generally know, like, what types of modeling we need to do to get there. I would say, like, the easiest thing that you’ll be able to answer any of the historical data polls that you’re that you’re kind of, like, struggling to pull. Like, that’ll be the fastest thing to get. You’ll be able to get it. You’ll be able to get it faster. And then any of, like, the business logic that, you know, you know, things like, especially like that, that Google sheet, that kind of updates, like accounts like that seems like a pretty easy plugin. Like, we could easily have that up and running. Whereas, like, you know, maybe, like, some of the things that we talked about later in the conversation that are still kind of, like, kind of up in the air, defining, like, with new products, like in, like, kind of in, like, those things maybe, that are, you know, I kind of view it as, like, slow to change versus faster change. Things that are, like, slow to change. Like, we’ll get those in, and you can start reliably using those faster than, like, the, you know, the data points that are, like, kind of more dynamic. Right. So, yeah, I think that’s maybe a good way to kind of think about, like, how we, how we build. The system. We’ll just like the stuff that’s pretty static. Like, we’ll get to that super fast, and we’ll. We’ll share that with you as soon as possible. And then we’ll kind of keep chipping away so that we can build. Build it up from the ground up. Yeah. That’s helpful. I mean, so the hope is that this can support your. Your big project. And, like. And, like, your test will be if Madison and I’s data shows the same answer or not, or if we’re like, whoa, we were way off. And, like, that’s the thing is, like, the data cleanup. Aspect of this is, like, no joke, right? So it’s like. I think it’s like, it might mean that we’re doing, like, a lot of sessions together. It’d be like. Crosswalking. Like, like, you know, like, hey, like. Does this actually. Is this how you define it? So there might be, like, a more in. Once we have the data, like, more in the weeds questions for us to make sure we’re all speaking the same language. So I would anticipate that being a part of the January Sprint as well. I think for this Sprint, it’s probably like just this discovery call, FYI, that we have access. They have access to Shopify. Data will start to be ingested. And then in January, we might want to do some more, like, meaningful sessions together, is what I sense. Yeah. Cool. Okay. Thank you. Thank you, guys. This was awesome. Sounds so great. Good to meet you. Thank you. Bye. Bye, everyone. Bye.