Building a product brand is no easy task. When you don’t have any experience selling physical products, where do you start?
Richard Phillips is facing that dilemma. Richard has been in the affiliate marketing business and his shift into actually selling a physical product to make money has proven to be very challenging.
Richard and I have a lot in common, one of which is the fact that we both got burned when Google dropped the hammer on affiliate marketing years ago. Just like me, he also realized that the way to make money sustainably is to actually offer something worthy of people’s money, and his idea of building a brand selling quality products was born.
In this episode Richard and I talk about how to best approach building a solid product brand. Some conversation highlights:
- How to handle physical inventory, i.e., how to accurately forecast how much inventory to order and avoiding running out of stock
- The pitfalls of relying on data from product research apps
- How to get market share in a very competitive niche
- Which one to focus on–product development or marketing
- How much money to allocate on product development and marketing
- Maximizing an email list and decreasing cost per email
If you enjoyed listening to our conversation and would like to be featured in your own Under the Hood episode, just fill up an application form here. We will contact you for further details.
Thanks for listening! Until the next one, happy sellling.