Quarterly updates include a curated list of the best content, tools, resources, and potential investments that I have published or come across. Content Posts New posts I published. Format for consumer product feedback surveys and how it can correct for problems with getting accurate and reliable data What factors should I consider in deciding [...]
This is a Quora question I was asked to answer. You are going to generally size based on the competing products already available to consumers. The reason is because that is what consumers expect and in many cases, supply chain, warehousing, e-commerce operations and store shelves are already optimized for the sizing sold. If you [...]
Here is a format for consumer product feedback surveys that I use. I take consumer product feedback surveys with a big grain of salt, for reasons listed here. But they have been useful for me when I follow the format below. Interview Format Could be a voice call, in-person/video or over email. Interview Process Describe [...]
This is a Quora question I was asked. My answer as follows. That depends. You really need to maximize your average order value (AOV), ideally above $75 in order to make the e-commerce operation pay for itself and earn a profit. If you can do that, then yes. Subscription orders and repeat customers will help [...]
If you want better results, then forget about setting goals. Focus on your system instead. You do not rise to the level of your goals. You fall to the level of your systems. Via James Clear and Atomic Habits.
This is a Quora question I was asked to answer. By margins I am going to assume net margin, which is net income. Think of the flow of money in a consumer goods business as a way to help you improve margins. I have a spreadsheet model accompanying this graphic here. In the [...]
Here is a simple model to determine success of product sampling in e-commerce. I was presented with some quick performance metrics on an e-commerce product sampling campaign for a supplement startup, which included the cost of the sample plus shipping ($.70), the average order value ($39) and the response rate at 20%. That got my [...]
This is a Quora question I was asked to answer. I don’t look at ROI in terms of consumer products or ecommerce because that number is not as meaningful due to its wide range across categories, channels and geography. EBITDA, net profit margin, payback period, and revenue-to-funding are metrics I prefer. Based on that, [...]
This is a Quora question I was asked to answer. There are a few reasons: Help differentiate the brand better against competitors. You want to capture attention so you use packaging to do that, and if you look like everyone else, then it is hard to do that. Take a walk down a retail aisle [...]
This is a Quora question I was asked to answer. Here’s how I would go about finding customers who will pay the highest price for my products. Direct-to-consumer (DTC) The first thing I would do is create high quality products that customers will rave about. I would create a highly polished brand that looks good [...]
