All during a crisis when everyone wanted to give up.
I am going to break down exactly how I did it:
๐ญ. ๐ง๐ฎ๐น๐ธ ๐๐ผ ๐๐ผ๐๐ฟ๐๐ฒ๐น๐ณ
When the "problem" hit the world and no one knew what to do, I called each and every one of my clients and told them to do one thing first:
Tell yourself you're going to succeed.
I want you to say it to yourself right now.
"I am going to succeed."
Cut out all doubt. Yes, there will be problems.
Everyone else is ready to see you fail, don't be one of them.
Now let's get to work.
1. 100% to the 20%
The entire world and their buying habits have changed.
Why should your brand line stay the same?
Go back and look through the purchase data.
Select the items that fill out the top 20% of your business.
Top 20% most profitable.
Top 20% most purchased.
Top 20% least returned.
Top 20% repeat buys.
Now refocus 100% of your attention on what is making those items rise to the top of your brand.
I guarantee this will surprise you what has changed.
๐ฎ. ๐๐ฒ๐ ๐๐ผ๐ป๐ป๐ฒ๐ฐ๐๐ฒ๐ฑ
You've seen the horror show. Brands and stores dropping like flies. Everyone complaining about how tough it is now.
Some brands however have had their best years during a time when people supposedly can't get products made, can't get them shipped, and people aren't buying.
How is this possible?
Of course it is who you know.
You can
โข cut production lines in factories
โข get VIP treatment in ports
โข secure shipping rates not offered to the public
All legal. We know because that's what we did.
Moving forward it is not enough to just have a good product or marketing.
Your fulfillment network from sourcing your product to shipping your product has to grow both deeper and wider.
๐ฏ. ๐ฅ๐ฎ๐ถ๐๐ฒ ๐๐ผ๐๐ฟ ๐ฝ๐ฟ๐ถ๐ฐ๐ฒ๐
Inflation is eating through people's margin and it's not acceptable you try and ignore it.
If you have a good product that can ship?
Raise the price.
๐ฐ. ๐ ๐ฎ๐ธ๐ฒ ๐๐ผ๐๐ฟ ๐๐๐ฝ๐ฝ๐น๐ถ๐ฒ๐ฟ ๐๐ผ๐๐ฟ ๐ฎ๐น๐น๐
Take all the information above. It is time to use that as ammo and motivation for your supplier to give you special treatment and start doing some of your work for you.
โข Any items that almost made it into your top 20%?
Go to your supplier with those details and discuss what can be done. Something not profitable enough but selling well?
Bring the data, lower the cost or drop the item.
โข Your best selling and most profitable?
Discuss a long term order for the item and what extras can be added to it without price change: additional variants, special packaging, marketing inserts, etc
โข A pattern in your top 20% repeat purchases?
Find out what your supplier can find and suggest for you that is similar. Time to build and test a bundle targeting your repeat buyers.
5. Repeat
These steps are part of a system that we had our clients repeat which led to the following results:
A) Constantly evaluating which products were working and why.
B) Regular communication with suppliers meant no surprises and kept top of mind.
C) Focused on data to continue targeting the brands best and most loyal.
All of this made the owner so much more knowledgeable about their own brand and the industry.
Their confidence levels went through the roof and guaranteed they'd succeed.
๐๐ณ ๐๐ผ๐'๐ฟ๐ฒ ๐น๐ผ๐ผ๐ธ๐ถ๐ป๐ด ๐ณ๐ผ๐ฟ ๐บ๐ผ๐ฟ๐ฒ ๐ผ๐ณ ๐ฐ๐ผ๐ป๐๐ฒ๐ป๐ ๐น๐ถ๐ธ๐ฒ ๐๐ต๐ถ๐, ๐๐ผ๐ ๐ฐ๐ฎ๐ป
โข ๐ฆ๐๐ฏ๐๐ฐ๐ฟ๐ถ๐ฏ๐ฒ ๐๐ผ ๐ผ๐๐ฟ ๐ป๐ฒ๐๐๐น๐ฒ๐๐๐ฒ๐ฟ ๐ฟ๐ถ๐ด๐ต๐ ๐ต๐ฒ๐ฟ๐ฒ
โข ๐๐ต๐ฒ๐ฐ๐ธ ๐ผ๐๐ ๐ผ๐๐ฟ ๐๐ผ๐๐ฟ๐ฐ๐ถ๐ป๐ด ๐ฎ๐ป๐ฑ ๐ฝ๐ฟ๐ผ๐ฑ๐๐ฐ๐๐ถ๐ผ๐ป ๐ด๐๐ถ๐ฑ๐ฒ '๐๐ผ๐ ๐๐ผ ๐๐ผ๐๐ฟ๐ฐ๐ฒ ๐ฝ๐ฟ๐ผ๐ฑ๐๐ฐ๐๐ ๐น๐ถ๐ธ๐ฒ ๐ถ๐๐ ๐๐ผ๐๐ฟ ๐ฑ๐ฎ๐บ๐ป ๐ท๐ผ๐ฏ' ๐ฟ๐ถ๐ด๐ต๐ ๐ต๐ฒ๐ฟ๐ฒ โข ๐ง๐๐ป๐ฒ ๐ถ๐ป๐๐ผ ๐ผ๐๐ฟ ๐๐ฒ๐น๐ฒ๐ด๐ฟ๐ฎ๐บ ๐ณ๐ฒ๐ฒ๐ฑ ๐ณ๐ผ๐ฟ ๐บ๐ผ๐ฟ๐ฒ ๐ฟ๐ถ๐ด๐ต๐ ๐ต๐ฒ๐ฟ๐ฒ
โข ๐๐ป๐ฑ ๐ถ๐ณ ๐๐ผ๐ ๐ป๐ฒ๐ฒ๐ฑ ๐ต๐ฒ๐ฎ๐๐ ๐น๐ถ๐ณ๐๐ถ๐ป๐ด, ๐๐ผ๐ ๐ฐ๐ฎ๐ป ๐ฐ๐ต๐ฒ๐ฐ๐ธ ๐ผ๐๐ ๐ผ๐๐ฟ ๐ฎ๐ด๐ฒ๐ป๐ฐ๐ ๐ฟ๐ถ๐ด๐ต๐ ๐ต๐ฒ๐ฟ๐ฒ.
ใณใกใณใ