Indie Brand Builder: How To Build A Successful Business Online podcast

#Business #Entrpreneurship #Indiebrands #Retail #Smallbusiness #Wholesale #Marketing #Consumerproducts #Dan Chadney: Creative entrepreneur #Amp; SEO Expert #Online Business

27:29

Gary Sinise is an award winning actor, on the stage, TV and big screen. He is best known for playing Lieutenant Dan in Forrest Gump. Inspired by this role and his family members, Gary is now the head of the Gary Sinise Foundation, which offers support for service members who need help with mental wellness, trauma, physical recovery, and loss. He Also plays concerts worldwide for our nation’s defenders and their families, boosting morale and offering gratitude for their sacrifices as part of the Lt. Dan Band. Jay and Gary discuss the changing needs of American service members and their families, the many services the Gary Sinise Foundation provides, how Gary’s work helped him through personal loss and much more. Today's episode was produced by Tani Levitt and Mijon Zulu. To check out more episodes or to learn more about the show, you can visit our website Allaboutchangepodcast.com. If you like our show, spread the word, tell a friend or family member, or leave us a review on your favorite podcasting app. We really appreciate it. All About Change is produced by the Ruderman Family Foundation. Episode Chapters (0:00) intro (1:11) Veterans’ changing needs over the past half century (7:57) Veterans’ appreciation of Gary’s portrayal of Lt. Dan (10:25) By helping others, we step out of ourselves (11:46) The Lt. Dan Band (15:29) How the death of Gary’s son Mac impacts his activism (17:33) Bringing services to American heroes wherever they are (19:45) Accurate portrayals of veterans in film and TV (20:58) How can people get involved with the Gary Sinise foundation (24:24) Goodbye For video episodes, watch on www.youtube.com/@therudermanfamilyfoundation Stay in touch: X: @JayRuderman | @RudermanFdn LinkedIn: Jay Ruderman | Ruderman Family Foundation Instagram: All About Change Podcast | Ruderman Family Foundation To learn more about the podcast, visit https://allaboutchangepodcast.com/ Looking for more insights into the world of activism? Be sure to check out Jay’s brand new book, Find Your Fight , in which Jay teaches the next generation of activists and advocates how to step up and bring about lasting change. You can find Find Your Fight wherever you buy your books, and you can learn more about it at ⁠⁠www.jayruderman.com⁠⁠ .…

Indie Brand Builder: how to build a successful business online

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Each week we interview successful entrepreneurs and industry experts while reflecting on our own experience building e-commerce brands. Topics include selling consumer products wholesale, SEO, e-commerce, marketing, and business management. Whether you’re just getting started in developing a consumer product-based brand, or are looking to build an existing brand, you’ll find a ton of useful, actionable information both in the podcast and at indiebrandbuilder.com.

21 episodes

Indie Brand Builder: how to build a successful business online

updated 4 years ago

Series home•Feed

21 episodes

#Business #Entrpreneurship #Indiebrands #Retail #Smallbusiness #Wholesale #Marketing #Consumerproducts #Dan Chadney: Creative entrepreneur #Amp; SEO Expert #Online Business

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Indie Brand Builder: how to build a successful business online

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22: How to develop a hardware product - even if you have no engineering experience. 27:42

4 years ago27:42

27:42

Kevin Mako is a leading expert on hardware startups. He is the Founder of MAKO Design + Invent , the pioneer firm for providing world-class end-to-end physical consumer product development tailored to inventors, product startups, and small manufacturers. Est 1999, Mako Design is a 30-person team with offices in Austin, Miami, San Francisco, & Toronto, has developed over 1,000 products for clients and has earned over 25 design and business awards including Red Dot, Inc5000, Entrepreneur360, Indigo Gold, Creative Pool Gold, Best Places to Work, Lux Magazine Best Design Firm in North America, and many others. Kevin lectures at the Masters of Engineering program at Ryerson University, sits on a number of entrepreneurship and education boards and holds the Duke of Edinburgh Gold Award designation. He is the host of The Product Startup Podcast , the hardware development industry’s leading podcast.…

Indie Brand Builder: how to build a successful business online

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21: The Financial Formulas For Scaling a Consumer Product Business 19:00

4 years ago19:00

19:00

The financial formulas for scaling a consumer product business are really only applicable if your goal is to build a scalable venture. If you're just looking to run a lifestyle business you can disregard this article - but if you want to build a scalable consumer product business, these are the numbers that you need to understand. Use the financial formulas to compare the efficiency of each channel in your consumer product business and increase or decrease your resource allocation to the most efficient channel or customer segments.…

Indie Brand Builder: how to build a successful business online

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20: What is a Tech Pack and why do you need one? With technical fashion designer Belinda Jacobs. 14:52

7 years ago14:52

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So you’ve got your amazing product idea, and maybe you even have a prototype. But now you’re considering larger scale manufacturing and you’re speaking with factories that are halfway around the world where English is not the native language. You’re also talking about spending tens of thousands – or even hundreds of thousands of dollars on your production run, and it’s starting to dawn on you how much could potentially go wrong – and how much those mistakes could cost you! One of the most important factors in the factory/designer relationship is how you communicate your product requirements. And that’s where TECH PACKS come in. Belinda Jacobs is a technical fashion designer from London (now based in California). She had her first job in fashion at the age of 15, stapling swatch cards together! Belinda has been designing & creating tech packs for more than a decade for household brands and independent designers alike…

Indie Brand Builder: how to build a successful business online

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19: Behind the Scenes: What It’s Like to Appear on Shark Tank / Dragons Den 18:11

7 years ago18:11

18:11

Thinking of auditioning your business to appear on a show like Shark Tank or Dragons Den? In this episode, I cover SoYoung's experience from the audition to taping to the deal itself.

Indie Brand Builder: how to build a successful business online

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18: A 9-Step Hiring Process for Small Business 14:13

7 years ago14:13

14:13

Hiring decisions are some of the most crucial decisions you will make as a small business owner. A great employee can take your business to new heights and open up new opportunities for growth, while a poor hire can set you back months and thousands of dollars, causing undue stress and frustrations. In this how-to podcast, I’ll lay out a step-by-step hiring process for small business that will help give structure to your decision making and increase your odds of bringing on a great employee.…

Indie Brand Builder: how to build a successful business online

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17: From the basement to an 8-figure exit: the Mabel’s Labels Story with Julie Ellis. 20:55

8 years ago20:55

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Julie Ellis a co-founder of Mabel’s Labels, one of Canada’s greatest small business success stories. Back in 2002, Julie and her three partners Julie Cole, Cynthia Esp and Tricia Mumby decided they could do better than the scribbles on masking tape that were being passed off as labels to keep track of for kids clothing and personal items. So, after much research, they brought a brand new product to market in the form of personalized waterproof name labels and tags. From its humble beginnings Mabel's Lables has grown into an award-winning, market-leading company loved by Moms and kids alike. Mabels labels was recently sold to paper and label giant Avery Labels which lead to Julie’s exit from the business she had founded and run for nearly 15 years Julie is now entering a new phase of her career as she shares her experience and expertise with other entrepreneurs helping them gain clarity and accelerate their success. Mabels Labels hadn't been looking to sell the business when they were approached by Avery but quickly realized that the idea acquirer “checked all the boxes” and helped them address some big questions: how they would finance further growth and who of the 4 founders would ultimately lead the company. Julie adds that what’s best for the business may not be what’s best for you personally and what you would do as an autonomous leader is much different than what you would do as part of a 4-person team While selling a business is often the end goal for many entrepreneurs, the experience can be bittersweet as it was in Julie’s case. As someone who is used to giving 110%, she says it took her at least 3 months to accept the idea that she was able to take some downtime.…

Indie Brand Builder: how to build a successful business online

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16: How to Grow your Global Distribution Channel 13:25

9 years ago13:25

13:25

Want to quickly ramp up your sales while generating extra cash to finance your next production run? Then it’s time to grow your global distribution channel. Finding distributors for your products in foreign territories may seem like an overwhelming prospect if you’ve never done it before, but it’s certainly possible. SoYoung now has distribution in 8 territories including Mexico, Australia, The Netherlands, and Korea – with more in the works. In this week’s post, I cover the pros and cons of distribution and outline some of the best ways to find distributors in foreign markets. What is distribution Distribution means granting the rights to sell your products in a specific region to another business entity or individual. This is typically done to cover a part of the world in which you have a limited presence and lack the internal resources or knowledge to cover the region. In essence, you are outsourcing the management of your brand in that region to a 3rd party who will handle all sales, fulfillment and management of customers in the defined area, for a defined period of time. The pros of distributing your products Increased Sales Revenue The most obvious benefit of growing your global distribution channel sales is that it increases your bottom line. These tend to be large bulk purchases that can instantly add zeros to your revenues. They also tend to be repeat purchases. Since the distributor has more skin in the game than your typical retailer skin, they will be more invested in growing your sales in their territory, leading to predictable increases over time. The ability to establish your brand in new markets without an upfront cost Distribution gives you access to new markets with relatively little investment. Typically your distributor in the region is assuming all the risk for launching and selling the product in that territory. This allows you to increase your overall brand presence while outsourcing most of the work involved. While the agreement may be exclusive, typically a distribution contract includes a clause that allows you to end the agreement with a certain amount of notice and or at the end of a certain time. You may continue to maintain the relationship indefinitely, but if you plan to eventually own the region yourself, you will have already established a brand presence as a foundation for further growth. Increased buying power and cash flow Unlike a wholesale relationship, a distributor will typically purchase your products in bulk and have them shipped directly from the factory. Usually, a distributor will pay you a deposit towards an upcoming production run that you can take to the factory to help finance production. With the net new sales that the distributor is projecting, you will also be able to increase your minimum orders which may increase your buying power with your factory, lowering your manufacturing costs or simply making a manufacturing run possible. The cons of distributing your products Distributors require time and effort to manage While it is tempting to view distributors as a low maintenance sales channel, this may not be the case. All relationships require some level of administration and management. Distributors may negotiate for better pricing when they get some traction or may have issues specific to their region that you have never dealt with before. Also, if a distributor is underperforming, you may be tasked with the uncomfortable process of ending the agreement. Negative impact on gross margins While distribution is a generally a lower risk channel – since you are taking distributors orders and deposits to the factory – it is also a low-margin channel. Distributors will typically ask for a discount off of your wholesale price that can range from anywhere between 25% to 50%. Assuming you have the margins , this is the price most brands are willing to pay for guaranteed sales. However, when looking at your overall financial results, you will see a serious hit to your gross margins as a result of increased distribution sales. Increased Legal Costs Because of the size of upfront investment a distributor is making in your products and building his own infrastructure to sell them, distribution agreements tend to require a much higher level of legal rigor than a standard wholesale agreement. Also, in entering foreign markets, you may be required to purchase trademarks and website domains in those regions as well as actively defend them when necessary. How to find foreign distributors Trade Shows Many distributors attend trade shows looking for new products to represent in their home market. If you are able to attend some of the leading international trade shows in your industry, you may find yourself being approached by foreign distributors interested in your product. This is also a rare opportunity to meet face to face with people who live far away and get a better sense of whether they are a good fit for your brand. Web Research Another way to find distributors is through online research. Look for complementary brands – not direct competitors – and research who they are working within various regions. If they are doing well, they are likely attracting the most successful distributors in foreign territories. Find the distributor’s website, reach out and see if there may be a fit. Retailers If there is a retailer in a target region that you feel would be a good fit for your products, ask them who the best distributors are. Retailers are on the front line with consumers and make the ultimate decision whether to stock products, so they will have a good idea of the landscape and which distributors are doing well. If possible, you might consider securing an anchor retailer in a region in advance of a distributor. This will allow you to test the market and hopefully provide extra incentive to distributors by proving there is demand there. Personal References As you attend more trade shows and get to know the lay of the land in your industry, you will make contacts with other brands in your space. Leverage these relationships to trade industry knowledge and see who other people are having success with and how they are approaching the question of distribution. You may get some good contacts and feedback on what is working and what is not Have them find you Finally, SoYoung receives unsolicited distribution inquiries from people who have heard of the brand and visit our website. Have a page or paragraph that speaks to potential distributors and who to contact, then have a process in place for vetting and dealing with distribution inquiries. What makes a good distributor Experience Nothing trumps experience when it comes to distributors. While a new company may have a lot of enthusiasm and gumption, they may be unrealistic about what it will take to launch a new brand in a new market. I would strongly suggest looking for people with a track record to work with when entering a new market. An established network The biggest value of a distributor is their ability to get you into retailers that can quickly establish your presence in a new market. An established distributor will have a network of retailers that they are already working with and to whom they can sell your products along with the products they are already representing Category Experience Make sure that the distributor has experience in your product category and has dealt with complementary products. There is not much value in working with the distributor who will be peddling products that compete with yours or are in a completely different category. Passion for you products Get a feel for what the distributor really thinks of your products. Has some detailed questions about what they think of the product and make sure that they have a good understanding of what makes your product unique and different. Are they just looking for a quick sale or are they truly passionate about the products? Do they believe in the brand vision to the point where they will weather adversity to ensure the products are successful in their market.…

Indie Brand Builder: how to build a successful business online

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15: How indie consumer brands can best manage Amazon with Joseph Hansen of the Prosper Show 31:32

9 years ago31:32

31:32

Over the last seven years, Joseph Hanson has built and sold four e-commerce based companies and is currently a managing partner to three businesses that help sellers succeed on Amazon Buy Box Experts, Prosper Show, and Marketplace University. It was Joseph’s experience as an Amazon expert that put him on my radar, So I’m excited to get his insights on what for SoYoung is of one of our single biggest revenue sources also the most frustarting and confusin channels and platforms that we deal with. Critical issues for brands Brand equity: Brand equity on amazon comes through Search Reviews Long term history and traction on the channel 2) Managing counterfits and knockoffs 3) Having transparency or understanding how profitable their SKUs are and how each product is performing can give you a big competetive advantage. If your product is good and desirable, it’s going to be sold on amazon If you want to control the way your products are displayed on amazon you need to either Invest the time required in really owning your Amazin presence Develop an exclusive relationship with an expereince 3rd party seller 55% of consumers start a product search on Amazon, so you need to be there At the end of the day price is going to be the biggest determining factor in where people choose to purchase their products. If they’re prime members, that will be a huge incentive for them to purchase directly from amazon How amazon pricing actually works Amazon prices reactively and you can’t set a MAP with amazon. If you’re having MAP pricing issues on Amazon, it tends to be because you have distribution problems, selling to grey market people who are then not honoring map, forcing Amazon to do the same. Key to controlling your Amazon channel is having airtight distribution and reseller agreements in price. The prosper show James founded the Prosper show to address the needs of Amazon sellers and help them with an educational based show with a level of transparency that discourages self promotion in favour of real objective education on how to best leverage Amazon.…

Indie Brand Builder: how to build a successful business online

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14: Google vs Facebook Advertising - Comparing the 2 Biggest Players on the Net 21:57

9 years ago21:57

21:57

If your products have a proven audience and you are ready to start driving serious traffic to your site, the 2 biggest games in town are Google and Facebook. In assessing Google vs Facebook advertising for consumer product brands, I’m going to share my experience in marketing our line of lifestyle bags. Other products and businesses may experience very different results How and why we use Google and Facebook advertising We primarily rely on Google and Facebook for top-of-funnel activities. In other words, this is where we first lure a potential customer to visit our site. To align with this goal, we set up all of our campaigns to prioritize click-throughs to our products. For a full explanation of the marketing funnel and some examples of other techniques we use see the post: How to increase website traffic and conversions Some other context We do not have a good way to track the ultimate effectiveness of various types of traffic, since we assume that a first time visitor will make several more visits before actually purchasing a product. So, by the end of the sales funnel people may have come through one channel, been retargeted by another and then Googled our brand name to make their actual purchase. We also use a service called Criteo for retargetting, which does offer better tracking of purchase activity. However the majority of our “new” traffic comes through Facebook and Google. I will not be covering Criteo here but may in a future post. Google Advertising for Consumer Product Brands I’ll start with Google because they are the incumbent, and for many years have dominated the online ad space. The Pros of Google Advertising Search Intent Google’s unassailable advantage is that it owns the world’s most popular search engine, giving it the ability to target people as they seek a product just like yours. Someone who enters a search query tends to be a much more motivated buyer than one who happens to stumble upon an ad the you’ve served. Because of this, some businesses can build a very valuable stream of traffic off of just a few key search terms. Reach Google’s advertising products have the ability to reach 90+% of the sites on the internet. Accurate analytics Because it is free and extremely powerful, Google analytics has become the defacto standard for tracking your online traffic and performance. Google’s ad products integrate seamlessly with Google Analytics to provide a single dashboard for assessing your campaigns, though you will probably end up spending a significant amount of time in the Adwords dashboard also. Variety of products Google’s wide variety of products can get a bit confusing, especially as they continue to evolve under new names and with enhanced features. I’ll just cover the main concepts/products that would be relevant to indie consumer product brands. Adwords/Text Based search campaigns This is Google’s “classic” product: campaigns that serve up a text based ad alongside organic search results. This approach can be extremely effective if you are selling a niche product that does not have a lot of competition for keywords. Google Shopping/Image-based search campaigns Like AdWords, this is an ad with a product image that is served in response to a specific search query, where you control the keywords. This is best for lifestyle and fashion products, where a visual image can be a key differentiator. Since you will only pay for click-throughs to your site, it can be more cost-effective if you have a product that will only appeal to a certain segment of the audience for that keyword. For instance “Leather tote bag” – will only attract buyers who respond to your preview image in the search results. Video You can use video both as pre-roll to a requested youtube video and as a banner ads. We have tested video on youtube but did not see a lot of click-throughs. I think the issue is that people are interested in seeing the selected video – not yours – so they are unlikely to leave the site unless you have an unusually novel product or video ad. I think this channel would be best for established consumer product brands, who want to reinforce their brand image without needing to drive website clicks. Remarketing Remarketing, also called retargeting, is a key component of any online marketing campaign. Once you’ve paid to get someone to your site the first time, remarketing places a cookie in the visitors browser allowing you to continue to serve ads across numerous websites. Google has a product that can automaticaly serve ads for the specific products that a visitor has view. It can be a little complicated to set up, but if you are using Shopify, there is an app that makes it fairly seamless. Support Google does offer phone support and will even assigned an account person to help you optimize campaigns. My experience with their support has been mixed however (see conclusion below). The in result for me was spending a lot more money to achieve essentially the same results – despite the best of the ad words team. The Cons of Google Advertising Expensive I’ve found Google to be significantly more expensive than other platforms, however, we are in an extremely competitive category. Terms like “backpack” and lunchbox are simply too expensive and generic to be effective for us. This will likely be true for many lifestyle products that are differentiated primarily on the bases of style or design. Search marketing can be very valuable to a brand targeting more niche/less competitive terms. If you fall into this category, you can use google Adwords to get a better understanding of which search terms are most valuable to you and double down on those to reach the most valuable traffic. Complex Part of the reason google has become more proactive whit their customer support is that their interface has become monumentally complex as they’ve layered in more products and features. (apparently, a redesign is in the works) While the AdWords is learnable with some coaching and dedication. Many people who don;t see results end up wondering if google simply ineffective for their products- or don;t know how to run them right. Conclusion I did fall into the camp who was wondering if there was something I could do to achieve better results, so when Google called and offered to help me build optimized campaigns, I jumped at their offer. Unfortunately. The campaigns Google built were a complete dud and Google’s account team came off as a bunch eager sales beavers who, while they understood the interface, did not show a good understanding of marketing. They also overspent on our assigned budget and offered poor account management to address the issue. Facebook Advertising for Consumer Product Brands Facebook’s advertising platform has come very far in a short period of time and continues to evolve at a rapid pace. For anyone looking at advertising online, Facebook deserves a serious look. The Pros of Facebook Advertising Ease of use Compared to google, the facebook ads interface is surprisingly simple. This is largely because facebook advertising is built around audience demographics, which are a predefined set of attributes, rather than keywords, which are potentially endless. Facebook’s ad interface also allows you to reach other platforms such as Instagram and third party sites. You can easily upload videos or create ads with multiple images. Facebook’s mobile app for advertisers is surprisingly good and allows you to make quick edits to your campaigns on the fly. Demographic targeting If you have a clear idea of your audience characteristics, as we do, facebook offers powerful tools to target them. For instance, I can target women age 27 – 45 with kids between the ages of 3 and 10 who have a university degree, enjoy shopping online and appreciate fashion. Facebook also has a feature that allows you to upload the email addresses of past purchasers called lookalike audiences. This, in turn, will scan Facebook’s database for the unifying characteristics of your audience and look for other potential users that will match with them. I’ve used this feature and, while it sounds cool, it has not delivered a lower cost per click. Inexpensive For us at least, facebook traffic is much less expensive than Google’s. According to facebook, our cost per click is a low as $.35 – but in reality, only about half those clicks translate into website visits, at least according to Google analytics. However, even at twice the cost, a click from a Facebook ad (some of which may appear on sites beyond facebook) is still less than half the price of a Google ad. The Cons of Facebook Advertising Limited ad formats Facebook only allows you to upload images in sizes that fit its platform’s strict format. Also, your image cannot have more than 20% of its area covered with text or your ad will not be approved. Headlines and text must confirm to facebook’s standard format. Since our products sell primarily on visual appeal I’ve found that our lifestyle images do well on facebook. I haven’t had much issue with the limitations, whose intention is to keep ad quality high and non-spammy. Depending on Inaccurate analytics What Facebook calls traffic and what Google calls traffic are not even close. I have more trust for Google analytics then what Facebook cause a click to our side. Essentially we see a large proportion – like 50% or more – of clicks unaccounted for, leaving me feeling a little bit skeptical of Facebook’s reporting. Pixel integration Facebook tracking code – or “pixel” – seems spotty and mostly useless in terms of tracking convrsions. However, we are using the old version of the pixel which has since been updated. I’m in the product process of migrating to the new pixel and may update this post if and when it is up and running No Support There is absolutely no way to contact Facebook by phone. Any issue you might have will require submitting an email through a standard form, to which you may or may not receive a reply. I did receive a call back from a Facebook person at one point after sending an email inquiry and she extended an offer to call her anytime I had a question – I have often a regretted not noting her number. Conclusion In the battle of Facebook vs Google advertising, Facebook has proven a more cost effective way to drive new traffic for our business. While there is no definitive across the board answer as to which is right for your brand, my impression is the Facebook is better suited to brands like ours, who are able to arouse interest with compelling lifestyle images or a catchy and novel value proposition. If you have a very strong content strategy and are publishing regularly around your products, you might also find that Facebook is a good way to build relationships by promoting your content – this is not something we have invested much in, but I have seen other brands very successful with this approach…

Indie Brand Builder: how to build a successful business online

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13: How to Create Stellar Product Videos on the Cheap 19:38

9 years ago19:38

19:38

Budget for 5 videos: Professional Voiceovers: $200 We hired a premium voiceover artist. There were others out there that were much less expensive that probably would have done a comparable job. Background Music: $50 – through premiumbeat.com Equipment and Software: Sony A6000 Camera: Aprox $600 – shoots great stills and video, and includes autofocus in video mode Amazon Tripod: $30 Final Cut X Video Editing Software: $300. You could easily use iMovie instead, free if you own a Mac. There are plenty of windows video software options, many for less than $100. The process we used to create our product videos One: Write your Script The first task is creating the script that will form the voiceover of your video. You should cover all the distinguishing features of the products and your brand. If possible you should aim to keep your video less than 60 seconds in length as attention spans on the web are short! This works out to about 100 – 150 words. As you’re crafting the script, focus on demonstrable benefits and facts. Avoid superlatives, (“amazing” “incredible”, premiere”) as they tend to undermine credibility when coming from the brand or manufacturer. Be conscious of how the script will flow by picturing the accompanying shots. Order the descriptions of features appropriately to any scene you might shoot. Two: Record your Voiceover I would suggest checking out a service like https://www.fiverr.com, where you can preview a number of voiceover artists and choose the one you feel is best suited to your brand. A pro will generally cost more than $5 but will still be a relative bargain. They should provide you with a fully edited, professionally recorded file which can be inserted directly into your video. Three: Plan your Shoot There are three tasks associated with the planning phases List of Shots You should be able to make a list of shots based on the video script, since you are essentially just shooting a quick demonstration of each of the product’s features. Location Scout You may already have a setting in mind, but if you don’t, scout out a few potential locations and make sure they have everything you need to support your shoot, including appropriate space, backgrounds and light (natural light is best). Note where you might place the camera in each location and do a general plan of your shots. List of Props, People, and Wardrobe (if applicable) For Soyoung this meant deciding what items we would show being put into the bags in order to demonstrate their carrying capacity. There were some shots of people wearing the products also but we were able to shoot these on the tail end of a photo shoot. Four: Shoot your Clips If you want to elevate your video to the next level, I would strongly suggest shooting each major scene from at least two angles. For instance, we shot Catherine packing each bag from the side and the top, which allowed us to cut the shot in the middle of a movement, giving the video a more professional look. You will need to be aware of consistency between the two shots by rehearse the series of movements being performed. Lighting is the other thing you will have to check. If you can find a space with natural light that is ideal. If not, you may want to bring a floodlight that can be pointed at the shot. If using natural light you will again have to keep an eye on consistency. If the light changes you may have to reshoot previous scenes. Finally, review all of your shots on a computer before you wind up the shoot to insure you have the shots and quality you need. It’s a lot easier to redo a scene. Five: Create your Edit This is potentially the most time-intensive part of the process. However, if you’ve planned your shoot well it should be fairly straightforward. Once you get the hang of it, editing is a lot of fun, so consider this a great opportunity to learn a cool new skill. If you are on a mac, iMovie is perfectly adequate for editing your video and is bundled free with your system software. If you are on a PC there are a number of inexpensive options available. Here is a list of video editing applications under $100 http://www.tomsguide.com/us/best-video-editing-software,review-2167.html I won’t get into the basics of using video editing software as there are many tutorials out there, including this one for imovie https://www.youtube.com/watch?v=GKu5p4e4CbY ) However I will give you some tips on the general workflow we used specifically for editing a product video: Start by importing the voiceover recording, and use this to define your timeline. This will provide the guide for all your edits. Next import all of the clips associated with your video assemble them on the timeline so that they roughly correspond with the voiceover Tweak each of the individual shots so that they begin to form a polished edit Time each cut to fall on a the first word of the voiceover describing the specific shot, so that the image is clearly aligned with the commentary If you have some longer shots/scenes, combine 2 angles to give the video more depth. Try to match the cut to a movement within the scene to create consistency Once I have a rough edit, I usually will put it aside for a while and then come back with a fresh perspective before making a few final tweaks. Six: Add Background Music Background music will add mood and polish to your video, tying it all together. There are a huge number of stock music providers online. Feel free to do your own web search, but the one I use most frequently is www.premiumbeat.com . It has a great search function, allowing you to search by genre and mood. Tracks are typically about $50. I like to test the track using the Premiumbeats.com preview player while playing my edited video in a separate window. You can adjust the volume of the track and get a pretty good idea of how the final piece will feel. Seven: Upload the Video to your Video Hosting Service Uploading your videos to Youtube is a no-brainer because it is the world’s second largest search engine potentially sending new traffic to your site. Some hints for Youtube: Include a link to your product page in the video description to insure viewers can find you Use your main keywords in the product title, description and tags to insure your videos appear in relevant youtube search results Consider adding subtitles to your video for those watching with their volume off. Youtube makes this easy using their advanced editor. You should already have your entire script typed out, which you can upload and tweak to match the timing of the video The down side of embedding a Youtube video on your site is that, at the end of the video, it will prompt visitors to watch other videos on Youtube’s platform – potentially distracting them from the sale. While we do upload our videos to YouTube, the videos on our product pages are actually hosted on a platform called www.wistia.com. It is a paid service, but there is a free tier for up to 5 videos. Eight: Embed the Videos on your Product Pages You can place the videos anywhere on your site, however I would suggest also having them on the product page, since that will typically be where the visitor will make their buying decision. If you are using Shopify, there is a video embed button in the editor that allows you to easily add a pop up video. However, nearly every platform allows for easy embedding of video. Conclusion Product videos are a valuable tool to have in your marketing arsenal. In addition to enhancing sales on your own site, product videos can be shared on many other platforms and via your retailers to help you inform new audiences about the benefits of your products. Finally, the process of creating your own product videos can be very cost effective if you are willing to take it on yourself.…

Indie Brand Builder: how to build a successful business online

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12: How to Increase Traffic and Conversions on your eCommerce Site 13:32

9 years ago13:32

13:32

Just as Rome wasn’t built in a day, we didn’t put all of these strategies together over a weekend. It’s been a slow steady, incremental layering of tactics combined with a whole lot of trial and error. A marathon rather than a sprint. However, the combined effect of having these systems in place has helped us dramatically increase eCommerce traffic and conversions, which continue to grow upon themselves. In this article, I’ll lay out a complete playbook of strategies we use to promote our online store at www.soyoung.ca and increase eCommerce traffic and conversions. I’ve grouped the strategies to increase eCommerce traffic and conversions in terms of where they fall in the marketing and sales funnel sequence. For those unfamiliar with the concept of “the funnel”, top funnel activities are designed to attract new visitors who are unfamiliar with our products to our website. Mid-funnel activities are designed to build a relationship with the user, who is still warming up to our brand. Bottom funnel activities are intended to convince people who have an interest in our products to actually make a purchase. Top Funnel Strategies to Increase eCommerce Traffic and Conversions While SEO is the best way to get traffic, it is generally only going to deliver substantial traffic when you are selling an extremely specialized product that has very little online competition. For everything else, you will need another strategy to increase eCommerce traffic and conversions. As the purveyors of lunch boxes, backpacks and diaper bags, there was no way we could compete for these valuable keywords in organic search, so here is what we do to get new visitors to discover our products: Paid Blog Placements Being featured on the blogs of influencers is a great way to generate traffic and build instant trust in your products. While we do a fair bit of PR and get free coverage on many sites, some of the biggest hits we’ve gotten have been paid placements with well established bloggers who align with our audience. While not cheap, in some cases we have seen our traffic temporarily increase by a multiple of 10 with a single mention on a blog. This can be a very effective way to drive traffic and reach a new audience. Facebook and Google shopping ads There are a lot of ways to do banner advertising online, however we have found that Facebook and Google Shopping are most effective for reaching people who have no awareness of our products. Facebook allows for very tight targeting allowing us to reach exactly the type of profile that we have found are most interested in our products – mainly mothers of children between the ages of 3 and 10 with some university education. The “lookalike audiences” feature in Facebook allows us to upload lists of our past customers so that Facebook can use its algorithm to find similar targets. It’s been a very cost effective way to generate valuable new traffic. Google Shopping is great because, given the visual appeal of our products, prospective customers see an image of our designs in response to a specific search query. Mid Funnel Strategies One of the biggest mistakes you can make is to pay for traffic to your site, then fail to capture the opportunity to continue marketing to that visitor. Rarely will people purchase a product they have just stumbled upon, so you need strategies for keeping them in the loop once they’ve visited your site and have an idea of what your brand is about. “Win this” email call to action In order to capture email addresses, you need an opt in offer that is compelling enough for a first time visitor to fill out. While we have used coupon codes in the past, the most effective strategy we’ve used is a pop up offering the potential to win a substantial prize: 5 of our products valued at over $300 to anyone who subscribes . We use a third party service called Opt-in monster to create pop-up with an “exit intent” trigger. This is a popup that appears as soon as the user’s mouse scrolls up to the top left corner of the screen (the movement that they would make before entering a new URL or hitting the back button – thus the term “exit-intent”). [ Try it out: go to www.soyoung.ca and spend a second on the home page. Then move your mouse up towards the back button in your browser – then see what happens next!] It is extremely effective and has multiplied our opt-in rate for newsletters. Marketing the contest to our social media followers has also been a great way to convert those followers into newsletter subscribers. Retargeting You may find it annoying when you see ads for a website that you recently visited following you around the web, but I can tell you from first-hand experience that is an extremely effective form of advertising. If you have spent money to bring a visitor to your site, and they don’t fill out a subscriber form, you have essentially wasted your money unless you have a way to continue reaching out to them. Retargeting is great because it constantly reinforces your brand with previous visitors, but you only pay for actual clicks back to your website. This is by far the most effective way to keep non-subscribers in the loop, so that you can increase their relationship with your brand and products. Bottom Funnel Strategies Bottom funnel strategies are designed to “seal the deal” with visitors who have already visited your site and built a relationship with your brand, but have not yet made a purchase. Subscriber and purchase Automation Sequences We have two main email sequences that we send to subscribers. The first occurs as soon as they join our email list. They get a series of emails over 3 – 4 weeks including a welcome email with social media links, an email containing a list of testimonials from satisfied customers, an email with pictures of celebrities using our products, and an email with a list of our most popular products. These are very effective at getting people to come back to the site and consider purchasing our products. The second email sequence is triggered by a purchase on our site. The buyer will receive a thank you email letting them know that we are here for them should they have any issue with the product and thanking them for the purchase. The second email encourages them to share a photo of their purchase on our Instagram account with an incentive for a discount off their next purchase. A third email requests a review of the product on our site. And finally they will also receive an email highlighting our most popular products should they choose to make another purchase. Customized Cart abandonment Sequences Finally, we have upped our game when it comes to shopping cart abandonment. Shopify has a basic responder built into the software, but the settings are limited and it is a simple plain-text email. Recently we decided to start sending two emails to anyone who submitted all their purchase information but did not complete the sale (also known as “cart abandonment”). The first arrives just 10 minutes after they leave the site with a full cart, and a second email arrives the next day. Both of these emails utilize the buyer’s first name in the copy, feature appealing hero images and include a personalized message from a member of our staff encouraging them to get in touch if they have any questions. Conclusion This has been a gradual process so it’s easy to overlook the dramatic changes from last year. When looking at the data however, our first month of 2016 saw traffic on our US site increase by 25% over the same period last year and sales increase by nearly 70%. If you have any questions about the 6 strategies to increase eCommerce traffic and conversions, please leave a comment and I’ll be sure to answer!…

Indie Brand Builder: how to build a successful business online

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11: How to Get your Pricing Right - step by step training episode 11:55

9 years ago11:55

11:55

Are you a craftsperson or an entrepreneur? This is a personal lifestyle choice - but be clear on which you have chosen. As a craftsperson, you can be perfectly content creating handcrafted products in low volumes and selling them to a niche audience. If this describes you, you can ignore the rest of this post. You just need to cover your material and living expenses in order to continue doing what you love. However, if you are an entrepreneur with a vision of building a scalable venture, you need to understand and adhere to established business principles, such as standard markup pricing. Even if you’re small now, you need to plan for big. If you’re just starting out, you may not realize how much margin you will need to build into your retail price in order to build a viable, long term business. While selling solely through a website is a great first step, most brands need to explore other channels to accelerate their growth. If you get your pricing and margins wrong, you’ll be in for a rude awakening when you start approaching retailers (and you’ll probably end up with a greater appreciation for why so much stuff get’s manufactured overseas!) Combining standard markup pricing with market research. If you’re basing your price strictly on a multiple of your costs -also known as Standard markup pricing you’re starting at the wrong end of the equation. I strongly suggest starting with a target retail price and working backward to see if your product will be viable. You will still need to ensure you are able to generate a sustainable profit margin - thus the need for standard markup pricing - but you’ll be imposing an additional level of discipline by aligning your numbers with the reality of the marketplace. Here is a step by step guide to using the Indie Brand Builder Margin Calculator to determine standard markup pricing: STEP ONE: Research your industry and competitors to determine high and low retail price thresholds You will need to determine how the quality, features and benefits of your product measure up against both direct and indirect competition. By direct competition, I mean any other product that has similar features and is used to solve the same problem or address the same desire of the consumer. By indirect competition, I mean products that aren’t in your category but provide a similar outcome or function for the consumer (ie - a book vs. an e-reader). Make a quick spreadsheet listing each competitor’s name, product features and retail price. STEP TWO: Pick your target product price After doing your research, you should have a reasonable idea of the general price range you expect consumers will be willing to pay - also known as the MSRP (manufacturer's suggested retail price). You will now need to choose a target price that you think represents an optimal balance between generating revenues and generating demand. At this point, the price is simply a hypothesis as you will still need to factor in manufacturing costs Keep a laser Focus on your gross margins. Anything less than 50% - 60% and you may be headed down a slippery slope STEP THREE Plug the numbers into the Pricing and Margins Spreadsheet Calculator Input your target retail price in on the far right to match your figure Next, plug in your target wholesale price at half of your retail price. You will now see your “retailer” margin at 50%. Adjust the freight and duty percentage as required. By default, it is set to 20% - which is a conservatively high ratio (SoYoung's freight and duty is typically around 17% coming from China) . Before making any final decisions, you should validate this by talking to shipping and customs brokers. You can also use this estimator tool . Start playing with your manufacturing cost numbers to see what they should be to get your gross margin to 60% This will allow you to target an acceptable manufacturing cost STEP FOUR Negotiate with your factory or suppliers. Now that you have a target cost, you can take this to your factory or use it as an internal target for producing your goods. If you are manufacturing internally, note that this number is just meant to capture your Cost of Goods : that is the cost to produce one unit of product. While it will include labor cost related to manufacturing, it should not include overhead costs associated with running your business such as administration, marketing or selling your products. STEP FIVE Negotiate with retailers and distributors. Your target wholesale price is just that: a target. If you are negotiating volume transactions, retailers will typically ask for a discount. When they do, you can simply plug this into your spreadsheet to see how it affects your margins. If you’ve calculated for 60% margins, this will give you some room to maneuver and still make a reasonable profit. Distributors will expect at least a 20%-30% off your wholesale price - though sometimes they will be able to give you an order that can be taken directly to the factory (if applicable) and shipped straight to them, which reduces your risk and cost of carrying the products. Why you need to target a 60% profit margin when pricing products: You will likely have other selling costs such as marketing, paying commissions to sales reps, shipping merchandise and providing samples. Larger retailers will ask for a discount off your wholesale price You need to cover all of your business overhead, including your own salary Your business needs to generate a profit in addition to your salary in order to be viable over the long term. You may have to sell a portion of your inventory at a discount or write it off completely You will need to generate enough cash flow to continue financing the business. Other Factors to Consider Economies of scale In the short term, you may be willing to settle for slightly lower than standard markup pricing margins as you build your volume up to a point where you can realize efficiencies in your manufacturing costs. Just be sure these cost projections are based on solid agreements with your suppliers, rather than wishful thinking. Business Model What I’ve proposed here is based on a traditional wholesaling model - but the world is changing quickly. If you are committed to an online-only approach, integrating with your own retail location or going the multi-level marketing route, then these rules may not apply. Other entrepreneurs have been very successful blazing their own trail - but having more margin always allows you more flexibility if things don’t go as planned.…

Indie Brand Builder: how to build a successful business online

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10: How to master your business with an Entrepreneurial Operating System - with Mike Paton of EOS Worldwide 26:59

9 years ago26:59

26:59

Mike Paton has spent most of his life learning from entrepreneurs. Today, he spends all his time giving back - as an Author, award-winning Speaker, certified EOS Implementer & the Visionary of EOS Worldwide. Specifically, Paton helps entrepreneurs clarify, simplify and achieve their vision – by mastering the simple concepts and practical tools he’ll be sharing with us today. I first met Mike Paton at a digital agency conference about three years ago where he was a featured speaker. Now I'd never heard of Mike before or the entrepreneurial operating system (EOS) that he was talking about, but one of the other agencies there had – and they were at least 10 times the size of most of the other agencies in the room, so that got my attention! In this session we did, Paton reviewed the main concepts of his the entrepreneurial operating system, and then had us work through a series of questions known as the vision traction organizer (or VTO) , which had this group of creative entrepreneurs completely engaged. By the time I was on my flight home, I was already well into Mike's book, get a grip , that I had acquired a copy of at the conference, and I was eager to begin implementing the entrepreneurial operating system EOS in my business When I came onboard so young, which is the business I now Co-run with my wife, The first thing we did was the VTO exercise that Mike had us do at the conference. We also created an accountability chart, which Michael share more about in a moment, and implemented weekly meetings to review our scorecard. Having had this Entrepreneurial Operating System system in place now for the past nearly 2 years, I can sincerely say that it has transformed the way we run our business. We are now proactive about solving problems and able to consistently monitor and grow the business with confidence and clarity. 6 Key Components of the Entrepreneurial Operating System (EOS) Entrepreneurs spend so much time in their optimistic futures that they’re in danger of not tending to the foundations. This is why most business owners aren’t getting everything they want from their business. This lack of fulfillment and progress exists to the extent that they have not fully implemented the 6 key components of the Entrepreneurial Operations system. Vision Getting everyone in the organization aligned on where you’re going and how you plan to get there People Getting great people in the organization to help you achieve the vision Data running the business on facts and figures rather than opinions and egos Issues Getting good at prioritizing and solving your issues as they arise and addressing core causes rather than just the symptoms Process do the most important things the right and best way, every time Traction Instilling discipline and accountability everywhere in the organization In what order should you implement the tools? The first priority is to build the traction muscle Accountability Chart Level 10 meeting pulse Scorecard - 5 to 15 leading indicators that are tracked on a weekly basis Rocks - 3- 7 of the company's 90 day priorities Then take on the VTO The distinction between Visionaries and Integrators The Visionary Role Visionaries are inspiring and have tons of creative ideas - but don;t like to stay grounded. They live at the 30,000 ft level of the business and don't like getting dragged into the details or having to deal with the rudimentary aspects of the business. They are great at big relationships, imagining what’s possible and breaking through barriers. The Integrator Role Integrators love getting into the trenches, love listening to the 20 big ideas but then settling on the one or 2 that will move the business forward. They are the ones who are In the trenches executing on the vision every day and making what’s possible actually happen. Know who you are One key to the EOS system is recognizing who you are at the core, and making sure you have someone in the organization who can complement either your Visionary or Integrator approach.…

Indie Brand Builder: how to build a successful business online

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09: How to sell into more retailers - step by step training episode 22:12

9 years ago22:12

22:12

The key principle in selling wholesale to retailers is to invest time upfront in planning your approach and sales materials. This will allow you to prioritize and focus so that you can go deep into a few areas that will deliver the highest return on your time investment, rather than spreading yourself too thin and getting frustrated. STEP ONE: Determine your Retail Category Focus While it’s tempting to pursue every retail category for which your products may be eligible when selling wholesale to retailers, it’s best to focus on one at a time in order to make your efforts more efficient and targeted. You can always change things up as you learn more. This means setting up a criteria for determining the best fit for your business. Create a list of categories you could target Depending on your product, you may be very clear that you’re simply going to target a specific category of store. However some products will appeal to several categories. For Instance, SoYoung’s bags have been sold through gift shops, baby stores, kids gear stores and natural grocers, among others. Simply make an exhaustive list of the possibilities based on your current knowledge and best guesses. Determine the top 1 or 2 categories that you will target. To find your category focus, I suggest using a multi-attribute model spreadsheet. This approach allows you to apply a disciplined approach to choosing your initial target category. How to use the Spreadsheet Plug in the categories you are considering down the left hand “LEAD” column (replace the title “Lead 1” etc.) Determine the 3-4 criteria you feel are most relevant to creating an optimal environment for presenting and selling your products. Criteria examples include: Price Sensitivity, Similar products, Alignment with core audience . Plug them into the Attribute row (replace the title “Criteria 1” etc) Assign a weight to each criteria as it relates to your decision. The total weights you assign amongst the various criteria should add up to 100 Rank each lead category out of 10 as it applies to the specific criteria. This will give you a total score in the far right hand column >>Download the resource pack, including the Multi Attribute Model Spreadsheet STEP TWO: Determine your Top Retail Targets The retailers that carry your products reflect strongly on what kind of brand you are, so be intentional about who you target when selling wholesale to retailers. In this step you will determine the key criteria that you will use to target specific retailers. For instance, SoYoung, while not a luxury brand, does price its products at a premium, so discount stores are not a good fit for us. Again, focus is the key to remaining productive. Once again use the multi attribute model to determine which retailers you will focus on. How to use the Spreadsheet Plug in the retailers you are considering down the left hand LEADS column. Determine the 3-4 criteria you feel are most relevant to creating an optimal environment for presenting and selling your products. Criteria examples include: Eco-friendliness, Urban Locations, Boutique feel etc. Plug them into the Criteria row. The total weights you assign amongst the various criteria should add up to 100 Rank each lead category out of 10 as it applies to the specific criteria. This will give you a total score in the far right hand column STEP THREE: Determine the Specific Buyer for your Category This is by far the most time-consuming aspect of the process of selling wholesale to retailers. There are companies that offer lists of specific roles that you can purchase, but they’re expensive and I have found that often they are out of date or missing key data. To compound the issue, many buyers go out of their way to maintain a low profile online so that they are not inundated with inquiries. Getting a name I will generally start with a LinkedIn search of the company name and review the names of key personnel looking for anyone that is a buyer or “category manager”. I will then cross reference results with a site called Data.com , which is run by Salesforce. If you find a relevant name and title on LinkedIn, check the side column entitled “People also searched for”. Getting their email address Once you have a name, you can guess the target’s email address based on another address from the same company, since most companies follow a standard structure for email addresses. It’s not always easy to find another address however.The best resources I’ve found are press releases – since the press contact will often provide a personal email address and company blog posts. If I’m really desperate I may use a credit up on data.com to get any email address from the company. STEP FOUR: Build a Buyer Profile If it is a high-value target, such as a chainstore, I would suggest going a step further once you have determined who your exact buyer is. Check out their social media profiles – especially ones like Pinterest and Instagram where they may be sharing personal tastes. You don’t want to let on that you have been browsing their personal profiles, but you may get some additional insight into their likes and preferences that you can use to your advantage in your sales pitch. If you are determined to get your products into a specific national chain you may even want to go a step further in building an organizational map. This means building a diagram of all the people who report to that buyer or may have some influence over the decision to carry your products. You can then target each of the influencers with emails tin a multi pronged attack. STEP FIVE: Prepare sales materials Buyers are constantly reviewing products and don’t have a lot of time. When selling wholesale to retailers, you need to invest your time in creating a few succinct but powerful pieces that will quickly convey your product’s value and appeal. There are three main pieces you will need to prepare: Email templates Your initial outreach email should be short and to the point. Provide an introductory paragraph that points to the sales sheet, which you will attach, and a brief list of bullet points about the product’s selling points. I’ve found that it’s best not to over sell the product at this stage. You are really just looking for their opinion as to whether they have any interest and see a fit for their retail environment.You can download the exact template we use at SoYoung at the link below. >>Download a free email template example Sales Sheet The sales sheet is a one page PDF that provides everything a buyer might need to make an initial decision as to whether he or she might be interested in your product(s). Keeping it to one page will insure you focus your message so that the buyer can clearly understand your product and make a quick initial assessment. Any ambiguity about what your product is or why it’s relevant will make a poor first impression and likely just cause them to ignore your products. What your sales sheet should include: Your logo, product name and tagline high quality photos of your product including packaging (if relevant) and in-store presentation Wholesale pricing and MSRP 4-5 Bullet points outlining major selling points >>Download a free sales sheet example Pitch Presentation While you won’t always need it, you should have a more in-depth pitch presentation prepared. This can be formatted as a slideshow that can be presented either in person or remotely, once a buyer has expressed some interest. It should be short – less than 10 minutes – but fill in some of the details that you did not have space for in your sales sheets. Your pitch presentation should include: 8-10 Slides Product Features Awards,endorsements or notable users/fans Pricing Details Press coverage Current retailers and notable sales figures Your Target Audience Company History >>Download an example of a pitch presentation STEP SIX: Initial Outreach At this point you should have a good idea of who you are targeting and have all of your sales materials prepared. In some cases, your initial interactions with your target will reveal that they are not actually the buyer for your category. Ideally they will point you in the right direction, but if not you may have to go back and do some more research. Before you begin your outreach in earnest, you should have some system in place for tracking your sales efforts. A CRM (customer relations management) system is great because it allows you to set notifications and see all past correspondence with a lead in context, so you know exactly where your progress with that person is at. We use Base CRM – but there are plenty of others out there. If you don’t have a CRM yet, you can just track your efforts in a spreadsheet. However I strongly suggest you at least add some software to your email client that allows you to track whether your email has been opened by a target, as this will allow you to better determine follow up efforts. What to expect after sending an email. I have received responses from buyers based on a single email when selling wholesale to retailers, however this is the exception rather than the rule. If you’ve used the subject line I suggest in the provided email template, you will likely at least prick their interest. I find that about 50%-60% of my emails get opened. If you see that an email hasn’t been opened a few days after sending it, I would suggest simply resending it again. If you see that an email has been opened, move on to the phone call follow-up with the buyer. STEP SEVEN: Phone Follow-up with the Buyer Once you see that an email has been opened, or if you’ve sent several emails that have not been opened, call the buyer. This can seem intimidating at first but, as long as you are prepared with a simple script, it is a simple and straightforward process. Your purpose here is simply to follow-up on your email until you get a response. If you get voicemail You’ll want to keep trying until you get the buyer in person, however it doesn’t hurt to leave a short voicemail drawing attention to your email and politely requesting a response. Use the provided script to insure your message is succinct and to the point. If the buyer has not yet read your email, the voicemail may be what prompts them to look for it in their inbox. At the very least, a voicemail, if heard, puts you on their radar and lets them know that you are serious about getting a response. If you get the buyer in person Again, have your script in hand and point them to your email. This is not the time to be doing a hard sell. Your goal is simply to get a response and gage whether there is any interest on their part. Stick to the script and, if there is a moment of awkward silence while they search for your email or ponder a response, DON’T make the mistake of filling it with your nervous chatter. You’ll likely just be giving them a reason to say no. If you get any response OTHER than a firm “No” Ask the buyer if you could schedule a short 10 minute meeting in which to give them a few more details about your product. If you are able meet in person that is ideal, however if the buyer is in another city or country, this may be unfeasible. I have done successful presentations over the phone with a simple screen share. Suggest a definite time and see if you can get it booked then and there. Sometimes the buyer will request a sample at this stage, or even a small test order. This is great progress but even if they request a sample, I would still try to get a few minutes of their time to give them your full pitch. >>Download a free phone sales followup script STEP EIGHT: Pitch to Buyer I have made sales without doing this step, particularly for smaller chains. However if the buyer is interested but not yet decided, this is your opportunity to make your product(s) seem like a no-brainer for him or her to at least try out. Practice, Practice, Practice Before your meeting, go through your presentation as many times as you need to to insure you have it down cold. I would suggest making your slides as visual as possible rather than just a number of bullet points that you’re reading off the page. You should memorize exactly what you are going to say, while using the images as supporting material. Plan what you want the next step to be Don’t make the mistake of ending the pitch by asking what they thought. You should end by asking if they would be willing to try a test order. If they have any hesitancy, the next best outcome is offer to see if they will review a sample. It may also be that they are interested but they don’t know how to work the products in yet or the timing is off. In that case, ask if you can follow up with them. STEP NINE: Follow-up to Completion If you get anything short of an order or test order, you should continue to follow up with the buyer every week or two. I’ll usually do 2 or three emails to every phone call follow-up. Remember that buyers are busy, so they aren’t necessarily ignoring you because they don’t like your product. They may be undecided or have other priorities to deal with. I have had sales that took a year or longer to come to fruition. You simply have to keep politely persisting until someone gives you a firm no or you get a first order. Again, a CRM will help you keep track of all your leads and allow you to schedule reminder tasks around follow-up activities. If you get a No Getting a No is much better than not getting a response at all. It means that the buyer has seriously considered your product. Don’t miss the opportunity to get inside the buyers head to understand why they passed on your product. Maybe it’s just not a fit for their store and you’re targeting the wrong category. Maybe they have some valuable feedback on how to better position or even redesign your product. Make sure you ask why they passed on your product in a polite and endearing way – be sure not to appear defensive. Conclusion Those that are most successful at selling wholesale to retailers play the long game of consistent efforts. Very rarely are you going to pick up the phone or send an email and get an immediate response. You have to slowly and methodically persist over time with follow-up after follow-up until people realize that you are not going to go away. Selling wholesale to retailers is not glamorous, and it can be intimidating to reach out to total strangers, but if you do this on a regular basis you will be ahead of 90% of the pack. Still have some questions about selling wholesale to retailers? Leave a comment below!…

Indie Brand Builder: how to build a successful business online

1
08: How to Improve your Brand Image - step by step training episode 19:12

9 years ago19:12