This past year I had the opportunity to go on The Profit with Marcus Lemonis. It was one of the best experiences of my life, so I decided to put together 6 lessons that I learned from Marcus.
It is very important to know your true brand identity. You must be able to choose fonts, logos, colors, patterns, a mission statement and a tagline that represent your brand. There should be a clear message from the verbiage to the ad copy. All of the brand partnerships should align with the brand vision and only amplify the story. If their is a social component, it should be highlighted and explained with a clear metric.
2. Creating products
It is not about getting things done fast and cheap. In fact, when it comes to creating products it is all about slowing down and buying into the creative process. The core of every new product is the design and creation process. The look and feel of the product will determine how it is developed. It is very important to go through a development process before jumping into production.
3. Product packaging
Use the packaging to tell your story and showcase your product. I always took short cuts and tried to keep costs as low as possible. In reality, you should spend more on your packaging than you probably think. The perceived value of the packaging will make your customer want to purchase from you again and even gift your products to others.
A great way to stand out and tell your story is by creating custom fixtures and displays. ON The Profit, Marcus taught me about the silent salesman. Meaning, your display should be able to sell the customer on your products without a store employee having to explain what it is. Another crucial aspect is working with you retail partners to create a full brand experience to match their stores “DNA”. You want your products to stand out, but fit naturally in their environment.
5. Sales funnels
It is no secret that a big part of what I do is online marketing. I am always reading and researching new methods and techniques to sell products online. Even though I did know a fair amount, it is always evolving and important to adapt. I learned that using funnels makes it easier to drive targeted traffic and find custom audiences. I have become obsessed with building optimized sales funnels and identifying the right kind of traffic.
6. Sales pitch
The most important thing I learned was creating a personal connection between your subject and your brand. Once their is an emotional connection it is much easier to have an open discussion about your product. You always want to lead with your story and be ready to demonstrate how you can execute what your pitching.