Over 80% of natural brands fail within the first year. I’m committed to changing this. Many “experts” offering advice lack the creativity to grow your brand. Your sales strategy needs to be as unique as your brand. The perils of choosing the wrong expert.
Welcome. We talk a lot about brands needing to pivot and brands needing to listen to their own heart. Today’s story is no exception. This show is about a brand that was doing really, really well and then they hired an expert in the industry to help them grow sales. While the expert did that, it came at the expense of their profitability. Let’s face it, retail is expensive. It’s pay to play, and the primary reason that most natural brands fail within their first year is because of lack of money, lack of funding. They can’t get enough bandwidth or enough growth with what they’ve got to be successful. From all the conversations I’ve had with emerging brands, they either lack strategy or fail from following the advice of someone who tried to be too aggressive, someone who tried to get the brand to grow into too many places that the brand could not effectively support.
That’s what today’s story is about. This is one of the questions that brands asked me most frequently. I’m routinely asked by brands what my thoughts are about them trying to gain distribution in a distant market, in a market that they don’t have the ability to support. A market that doesn’t have the infrastructure in place to be able to support the brand and help the brand grow effectively, to be able to support the brand on retailer’s shelves and be able to promote and demo the brand as needed by the retailers. Thankfully in today’s story, you’re going to hear about a brand that was able to make that critical yet difficult decision, to fire their master broker.
Now, obviously I’m not suggesting that master brokers are good, bad or indifferent. What I am saying is that this is your brand and you need to keep your hand firmly on your ship’s wheel. It’s your strategies, your passion. It’s everything that you’ve put into the brand that’s going to help it grow and succeed. The strategies that we talked about here on this podcast and throughout my content and my mini courses are designed to give you the tools and the resources necessary to help you succeed. In my humble opinion, the best of both worlds is for you to have an understanding of what’s going on and what needs to go on underneath you, so that you can help guide and direct your team effectively. And this all starts at the top. You’ve got to know what’s possible and what’s reasonable, and then you need to help guide your team, both your internal and your external sales team, including your brokers, distributors, agencies, etcetera, to help execute based on whatever strategies you put in front of them.
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Merchandising Checklist To Grow Sales and Shopper Loyalty
Empowering Brands | Raising The Bar
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