E231: Focusing on a New Product When Existing Ones Aren’t Selling Well: A Baby Brand StoryMarch 14, 2019 in Ecom-Crew-Podcast
This Under the Hood episode is unique and perhaps unexpected. I’m joined by Speck Hansen of earthMonkeys, a brand that sells plush stuffed animals. The company’s underlying mission is “for moms that wanna get their kids using less screen time and getting out and doing more physical activities through adventure.”
You might say that his products are in direct competition with those sold under one of our brands. However, I’m a firm believer that there’s enough business for everyone out there. And by having the opportunity to talk to him about his business and answer his questions, we would be providing greater value to those who are interested in entering the baby niche with these products or those who want to expand their existing product line to include plush toys.
Here are some of the salient points from the interview.
- Word of mouth is an important marketing strategy when selling plush toys. New parents will often befriend other new parents. New moms, in particular, may get advice on baby products from other news moms in their circle.
- In some cases, you can earn a much better profit by having quantities of products for one SKU and selling them at higher prices.
- Having a promotional strategy that can tie into plush toys and help kids develop an affinity for them is always a plus.
- Include 1-2 images on your listing that functions like an infographic. It should go into detail about the features that the toy has.
Under the Hood is a segment where we do an hour-long coaching call with one of our listeners. We take a look at their businesses, provide honest feedback, offer our best business advice, and answer whatever questions they have. In exchange for the free coaching, we will turn the call into a podcast episode so that our community can benefit as well. It’s a win-win!
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