This post provides a summary of consumer product growth strategies that I see, with their relative cost to successfully execute, time to successfully execute, risk of failure and manpower to execute. Predominant marketing influencing factors The three predominant marketing influencing factors are direct marketing (product centric), brand marketing (reputation centric), [...]
I had a pre-launch startup in the pet category contact me with a product idea and a website created around the idea. They were trying to raise money from investors for a seed round to produce a small number of units to sell. I personally did not think much of the idea, but what I [...]
Here are some quick email marketing benchmarks for my dog category business: The email open rate averages 50%; The clickthrough rate averages 10%; In the last 12 months, about 1/6 of my list has not opened any of my emails. Overall, I am pretty pleased with my list performance, it's open rate and engagements. [...]
It's common practice to throw up a free download as a way to build an email list ail list bait to lure subscribers to your list. I typically do not build my list of emails for marketing that way because I want to maintain a high quality list with people that are potentially serious about [...]
This is a Quora question I was asked. My answer is below. In food/consummables, manufacturers publish their price list, which in my experience does not normally include discounts for volume-based orders. If volumes are very low, then there may be a higher cost to cover the additional administrative and logistics costs associated with smaller orders, [...]
I have not done any hard core research into the success or growth track of companies following a successful Kickstarter, Indigogo or other crowdfund campaign. But anecdotally, this is what I have observed. And this is definitely what I see in many startups, even ones that do not go the Kickstarter/crowdfund route. Take a look [...]
Here is how I use agile principles in consumer product development, marketing and sales: Conduct deep competitive analysis on what is already offered in the marketplace, including features, benefits, and outcomes. Find out which products are selling well through sites like Similarweb.com - Digital World Market Intelligence Platform and through exiting online and offline distribution [...]
This is Quora question I was asked about how much does Target mark up its items.Not including produce, on average Target’s margins in my experience are 25–30%.I use margins and not markup because in the industry, margins is what is used and they are computed off of suggested retail price (SRP or MSRP). So, for [...]
This is a Quora question and here is my answer. I have not sold spirits directly so do not know of the specific nuances for that industry. But below are more general approaches for a strategy for introducing a new product. In my experience, this works across many CPG categories. I will assume you do [...]
