The first entrepreneurial groundbreaker to speak at Unshakeable: Marketing & Sales Strategies for Uncertain Times was none other than Kevin Harrington, inventor of the modern ‘infomercial’ and former host on the hit TV show Shark Tank. Kevin discussed his long history as an entrepreneur and CEO and gave us some guidance on how to run a business during a crisis.
The idea for the modern ‘infomercial’ came to Kevin when he realized that some channels only broadcast content for 18 hours a day. “How do I fill up that time,” he asked himself, before realizing it was the perfect setting to sell products. His quickness in thinking that night was good, but his follow through is truly admirable.
Kevin encouraged business owners to double down on customer acquisition. The customer acquisition cost, or CAC, is lower now than it was before the onset of COVID-19, Kevin said. In fact, he had heard of people buying local 30-minute tv advertisement spots for as low as a few hundred dollars! It made me think about how essential communication is to business.
That’s why collaboration is key. When we have a good idea, we need to have somebody to share it with. “Now is the time to reach out to mentors,” Kevin said. “If you don’t have one, go get one!”