Data Paralysis and DTC Growth Levers with Source Medium’s Feifan Wang
Feifan Wang is the founder of Source Medium, the Brooklyn-based team providing leading-edge eCom data analysis as a
service for DTC brands. They’ve centralized data across 50+ platforms into
streamlined, actionable reports for 100+ brands like MUD\WTR, Olipop, and
VaynerCommerce.
Feifan sat down with us to dive deep on best practices for client onboarding,
customer-led product development, and the key drivers behind Source Medium’s
eCom analytics.
“As brands grow, the stakes get higher and the factors in play get more complex. But, unlocking growth really comes down to knowing how to work with data.”
The Paralysis of Data Overload
When explaining the value of a high-level analytics service like Source
Medium, Feifan compares running a brand to the example of driving a car down a
highway. Countless variables are in play: your gas mileage, horsepower, and
tire pressure, among a range of other rotating factors.
In this hypothetical, if the driver is completely unaware of these variables
both individually and in concert, it can be incredibly unsafe to start
barreling down the interstate.
Brands large and small come to Source Medium with similar issues. They’re
repeatedly checking multiple data platforms, from Google Analytics to Shopify,
yet don’t know how to make sense of the numbers they see. As Feifan describes
it, most brands have no integrated solution and are thus viewing a dozen
different versions of the truth of their business’s wellbeing.
Most data that brands compile is either straight-up contradictory or just
confusing when pulled together. It’s a paralyzing circumstance that prevents
any degree of sound decision-making.
Source Medium’s customers need to know how to look at their data in a way that
drives growth. For larger brands in search of an analytical solution, the
variables only compound in complexity, but a similar question remains around
how to parse their data and integrate it into daily operations.
“Source Medium serves as a source of truth that takes out the guesswork of decision making, without the need for a data science team.”
Unlocking Data as a Service
When asked about Source Medium’s strengths, Feifan immediately points to
customer success.
In his words, squeezing customers into an impersonal support portal and
unending email chains to resolve minor issues will only harm the user
experience. Instead, Source Medium establishes relationships with the C-suite
and Head of Growth for each client individually.
Taking the point even further, there’s no formulaic training via manuals or
instructional videos. Rather, team members onboard in a per-customer
consultative fashion, diving deep into brands' pre-existing issues, helping
them eke out unidentified business problems, and demonstrating what analytical
questions can then be asked and solved through the Source Medium product.
Critically, this model of doubling down on support as a service has paid off.
According to Feifan, virtually zero cash has gone toward marketing
post-launch. Yet the Source Medium brand has taken off by word of mouth and
become widely known not only for its depth of technical capability but its
commitment to servicing and tailored solution-building as well.
“Our platform becomes so much more powerful when we can guide customers through our modular onboarding process, rather than dropping them with the default product straight out of the gate.”
Customer-Led Product Design
Source Medium’s mission of turning high-level analytics into digestible,
actionable feedback for clients is largely inspired by his own background in
eCom.
Through Feifan’s direct experience in growth and product analytics, his
previous brand’s run rate jumped from $10 million to $100 million within a
year, which meant data adjustment was needed every two to three weeks.
His insider knowledge of the challenges brands face, from managing,
running, and decision-making based on endless data is directly funneled into
Source Medium’s product development.
Feifan adds that additional product input comes from their customer solutions
team which is integral to their R&D and iterative process for improved
platform design. He’ll also frequently elicit feedback directly from clients
throughout their hands-on onboarding process.
“The dominant voice across Source Medium is the customer. They completely guide our approach to product design and development. We’re always returning to one question: how can we provide more and more utility to our customers?”
Scaling Accessible eCom Data
In terms of what’s on the horizon, Feifan notes that brands can expect even
more integration options across their suite of sales channels, including an
Amazon analytics product and further expansions into retail analytics
solutions.
Coupled with the depth of their existing support capabilities, Feifan hopes
to continue scaling both the data engine and Source Medium and its
accessibility to growth and enterprise brands
While Feifan’s team is zeroed in on perfecting Source Medium’s experience for
returning clients, Source Medium is on the lookout to reach more new users in
the ever-growing eCom landscape.
