This video tells us how Amazon, Apple, Facebook, and Google have become so valuable and integral to our lives. In a nutshell, their offerings get better every time someone uses them because they collect data that allows them to feed back into improving their offerings. This is in stark contrast to a consumer product that offers [...]
This is a Quora questions that I was asked to answer. Here is my answer. That will depend on a lot of factors - your volume, distances, consistency, speed of delivery, does the product require cooling, how is it packaged (case and pallet configurations), carrier, etc. For 8+ figures in annual sales, I have gotten [...]
An example using AI and deep learning to create customized food products for each one us. There are huge problems with getting to this end goal, which this article does a very nice job of exploring. But this article might give you ideas for how to incorporate AI and deep learning into your efforts.
There are two things this company is doing. One is using events to create an emotional connection between the product - music - and the end consumer. Events provide experiences, and experiences are what touch our emotions that can create powerful bonds between us and a product. Second thing they are doing is promoting discovery. [...]
This is a high level overview geared towards large CPG firms, but still good to cover and capture some learnings for small brands.
This is an excellent article summarizing the different branches of AI, where they are most applicable, and use cases. I copied out parts of the article and pasted below that are relevant to consumer products. But it is still recommended to read the entire article. AI-driven logistics optimization can reduce costs through real-time forecasts and [...]
In general, I have found that it is at least five times cheaper to retain a customer than acquire a new one. But often that multiple is higher. I know this because I maintain detailed customer transaction records and track my marketing campaign activities, costs and conversions. As a result, I work hard on my [...]
I highly recommend subscribing to this list put out by Scott Galloway at L2. Scott writes about consumer products in the context of consumer trends. In this particular email he talks about subscription/recurring revenue models and how they command a higher price to sales value in the marketplace. That is the case for many brands [...]
I've not yet worked directly in the beauty industry, but know it is pretty tough. This article has some great insight and intelligence into tradespend and margin requirements to sell retail.
Some good discussion on this subject area and emerging business models.
