So let’s talk about a case study of BB client in the second stage. The adapter the adapter merchant had a vision a strong entrepreneurial spirit and a credible business concept. They wanted to scale with $2.5 million in annual revenue. Does this sound familiar to you. What are your ideas that come to mind in this stage as an adapter.
You’ve already got the ball rolling. Now it’s time to begin optimizing your online business as the data comes in for merchants at this stage of growth we recommend building a test and learn approach into every area of your business. This fail quickly but always forward mentality will help avoid larger mistakes that can derail your path forward.
Just wasn’t investment dollars are precious. Identifying and rewarding. Your most loyal and plugged in customers is key since they provide word of mouth that amplifies your brand messaging and reaches new customers. Now as you collect data and begin to see patterns emerging. Consider tweaks like offering additional payment options showcasing user generated content
and refining your brand voice across your site and all of your other touch points. Your site is a valuable space to conduct user research. So leverage a A/B testing more to see what works and then invest accordingly. At this stage I typically don’t recommend tackling complex back end systems
or jumping the gun on things you might hear in the market like big data and personalization. Beyond some simpler customer modeling unless these are things that are dictated by your product and vertical it can also be tempting to accelerate expansion of your product catalog. But again I typically urge merchants
to ensure they have a solid foundation with a small number of high performing products and then to add related products that naturally go with the original offerings. Before you try to scale up too quickly nothing kills momentum like having warehouses full of slow moving inventory or confusing customers with too
many choices. So back to our case study. I used our engagement to enable the brand to increase marketing agility that provided the brand’s team with the levers and tools necessary to garner new funding and build additional momentum before scaling.
There was a collective decision to spend less time investing in the finer details and instead center more on velocity to achieve results.