LoriBeds.com, a US-based murphy bed manufacturer, shares how they navigated significant challenges including supply chain disruptions and the need for price increases that led to a rebrand. This episode offers valuable lessons on adaptable business strategies, reinforcing value propositions, and leveraging website redesigns to overcome economic headwinds and maintain business continuity.
Key takeaways
When raising prices, proactively reassess your brand and value proposition to ensure alignment and effectively communicate the updated offering to customers.
Implement a continuous improvement cycle for your website, as a strategic redesign can be a game-changer for improving customer experience and conversion, especially during tough times.
Prioritize domestic manufacturing where possible to gain more control over your supply chain, but be prepared for potential cost implications that may necessitate price adjustments and a strong communication strategy.
In times of economic uncertainty, closely analyze your supply chain for vulnerabilities and proactively develop mitigation strategies to avoid stockouts and production delays.
Continuously refine your value proposition to ensure it resonates with customers, especially when market conditions or pricing strategies shift.
It's been a tough few years for many eCommerce brands, and in this episode, we're chatting with Brenden Marquardt, owner of LoriBeds.com, a brand of really beautiful murphy beds that are functional, affordable, and made in the U.S. Brenden has built an amazing business that has also faced a pretty challenging period, over the last six months in particular, and we're diving into some of the challenges they've faced, as well as what they've done to weather the storm. Listen in as Brenden shares how the brand came to be, how raising prices led to a rebrand, and the importance of finding the right value proposition. We also get into the supply chain challenges that Brenden has faced, what he's done to overcome them, and how a website redesign turned out to be a game-changer. You can find show notes and more information by clicking here: https://bit.ly/3TgFBWT Interested in our Private Community for 7-Figure Store Owners? Learn more here. Want to hear about new episodes and eCommerce news round-ups? Subscribe via email.
What does this episode say about supply chain & operations?
When raising prices, proactively reassess your brand and value proposition to ensure alignment and effectively communicate the updated offering to customers.
What does this episode say about brand & content?
Implement a continuous improvement cycle for your website, as a strategic redesign can be a game-changer for improving customer experience and conversion, especially during tough times.
What does this episode say about dtc strategy?
Prioritize domestic manufacturing where possible to gain more control over your supply chain, but be prepared for potential cost implications that may necessitate price adjustments and a strong communication strategy.
What does this episode say about conversion & cro?
In times of economic uncertainty, closely analyze your supply chain for vulnerabilities and proactively develop mitigation strategies to avoid stockouts and production delays.
What does this episode say about supply chain & operations?
Continuously refine your value proposition to ensure it resonates with customers, especially when market conditions or pricing strategies shift.
