Goli's TikTok Comeback
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A story about how Goli, an apple cider vinegar gummy company, went from bankruptcy to success through TikTok marketing.
"Goli was a business that grew like crazy from 0 to 100 million in revenue, but they ran into financial trouble and had to sell through bankruptcy. They got way out of their skis. The group that bought it has basically restarted it, and one of their main strategies is this TikTok creator method.
They created this rewards program for TikTok creators. Not only do creators get a kickback on what they sell, but they get incredible rewards for hitting sales targets. At $1,500 in sales, you get an iPad. At $4,000, you get an iPhone. At $15,000, you get an all-inclusive trip to Aruba. At $50,000, you get a Rolex. If you hit $1 million in sales, they give you a condo in Miami and a Lamborghini.
There are people who've actually achieved these targets. The brands that are doing this strategy well are doing really well. It creates a halo effect - when people see multiple videos of the product, the paid ads perform better, Amazon rankings improve, and Google search results get better. While it's not as good as when it first started, you can still go do this today and it would work."
Shaan Puri
Host of MFM
Shaan Puri is the Chairman and Co-Founder of The Milk Road. He previously worked at Twitch as a Senior Director of Product, Mobile Gaming, and Emerging Markets. He also attended Duke University.