Fireside Chat with Branding Expert Ben Leonard - Aggregators: State of the Union
Firing The Man
· with Ben Leonard
· June 13, 2023
· 33 min
Summary
Ecommerce success in 2023 and beyond hinges on building a resilient brand that can withstand market fluctuations. Focus on direct customer relationships, smart inventory management, and price optimization to counter rising Amazon fees and increased competition. This episode offers critical advice for navigating the current landscape.
Key takeaways
Develop a strong brand identity and foster direct customer relationships to future-proof your business against platform changes and rising fees. Leverage email, social media, and content to build a loyal audience off-Amazon.
Actively negotiate payment terms with suppliers, aiming for lower upfront deposits and extended payment windows (e.g., net 30/60 after delivery) to improve cash flow and reduce inventory risk.
Optimize supply chain and logistics by exploring options like manufacturer-held inventory with drip-fed shipments and utilizing 3PLs to minimize storage costs and improve efficiency.
Proactively test price increases for your products, especially if you've built a strong brand. While some market share might be lost, increased profitability per sale can offset this in the long run.
Focus on product and packaging innovation to reduce shipping and storage costs. Smaller, more efficient packaging can lead to significant savings on FBA fees and other logistics expenses.
On today’s episode we are joined by Ben Leonard for the second time. For those of you that missed it, we interviewed Ben back in the summer of 2021, on Episode 73, where he told the story of starting, growing, and eventually exiting his private label brand “Beast Gear.” Since then, Ben has started an eCommerce focused consulting company – Benleonard.pro and a brokerage that helps eCommerce companies bring their brands to market and maximize value. On todays interview, we are...
Frequently asked about this episode
What does this episode say about brand & content?
Develop a strong brand identity and foster direct customer relationships to future-proof your business against platform changes and rising fees. Leverage email, social media, and content to build a loyal audience off-Amazon.
What does this episode say about supply chain & operations?
Actively negotiate payment terms with suppliers, aiming for lower upfront deposits and extended payment windows (e.g., net 30/60 after delivery) to improve cash flow and reduce inventory risk.
What does this episode say about amazon & marketplaces?
Optimize supply chain and logistics by exploring options like manufacturer-held inventory with drip-fed shipments and utilizing 3PLs to minimize storage costs and improve efficiency.
What does this episode say about finance & fundraising?
Proactively test price increases for your products, especially if you've built a strong brand. While some market share might be lost, increased profitability per sale can offset this in the long run.
What does this episode say about brand & content?
Focus on product and packaging innovation to reduce shipping and storage costs. Smaller, more efficient packaging can lead to significant savings on FBA fees and other logistics expenses.
