On a crisp autumn morning in the mid-1970s, a 30-year-old man named Roy Raymond walked into a department store to buy his wife lingerie.
What he found in the store were, tacky designs and unappealing nightdresses that stuck out like a sore thumb under the fluorescent lighting…
Add to this the piercing stare of the saleslady who made him feel like a filthy pervert just for being there…
The experience was truly appalling.
However, it was this horrible experience that sparked a wonderful idea in Raymond’s mind…
After finding out that his male friends felt the same way when shopping for lingerie, he saw an opportunity to establish a market where basically none existed.
He got a hare-brained idea to build a lingerie store that would make men feel completely comfortable.
He essentially designed a lingerie store, FOR MEN!
Imagine you start a business and in the first 28 days you hit more than $1,000,000 in sales…
And then by the second month, you’ve already hit your first-year revenue you target….
You then precede to sell out of every last piece of inventory in your warehouse….
You literally can’t keep up with demand…
You then start receiving calls from A-List movie stars like Leonardo DiCaprio who want to invest in your business…
Sounds like a stretch? A Dream?…
Not legalised Marijuana….
But Venture Capital…. is the drug that flows through the veins of most Silicon Valley’startup’s…
As fresh-faced founders are having money thrown at them, in hopes that their company will rise to unicorn status and be the next Uber, Dropbox or Facebook…
Seed round, pre-revenue, pre-product, no patents, no team… doesn’t matter.
So much so, that recent years have everyone saying “we’re in another bubble”…
“This can’t be sustained much longer”…”It’s looking like the dot com crash 2.0″…
Still VC money flows like Niagara Falls….
In today’s age, starting a new fashion brand online is very, very difficult. Fashion is the most competitive industry, hands down.
According to McKinsey Global Fashion Index, the global fashion industry is estimated to be worth $2.4 trillion.
Not only is penetrating this market incredibly competitive, but then once your business does get some legs…competing in a global industry plagued by copycat rivals and ruthless competition is not an easy fete.
Couple this with the huge amount of start up capital required to not only fund your first run of production, but advertising in an industry that spends $1.01 billion on advertising each year.
Insurance is the most brutally competitive industry on the planet.
Especially when it comes to digital marketing.
Insurance companies spend more on digital marketing than any other industry, and because of this, they are plagued by:
- The highest average Cost Per Clicks
- The fiercest competition on SEO
- Tough regulations on what you can and can’t say
- Ever increasing competition across all channels
So, what better place to look than this most fiercely competitive landscape in digital marketing, than insurance – to find out what the top players are doing to choke out their competition and make them ‘tap out’.
Is your business considering an online store?
With more and more people choosing to shop online it is becoming increasingly important to ensure that your business has an online store.
Having an online store not only makes your products and services more accessible to your clients and customers, but it is also much easier to manage orders and customer information due to the many programs and software that are now available.
The holiday season is the busiest spending time for most consumers, which means that your business needs to be ready. This is especially true if you operate a B2C or an e-commerce site.
B2B’s should also not exclude themselves from this equation as there are plenty of opportunities for B2B brands to also get ahead at this time of year.
2016 is quickly coming to an end and if you want to meet or surpass your sales goals for the year, you still have time to make an impact.
Depending on your business, the end of the year may be your busiest or slowest time. But no matter what your projections are for the rest of 2016, there are some fail-proof ways you can drive a huge wave of sales to your business.
When it comes to setting up your eCommerce store, writing a business plan is probably not the first thing on your agenda.
Most eCommerce store owners are fixated on writing tantalising product descriptions, uploading pretty pictures and ensuring that their checkout page is optimised.