You’re fighting a complex battle if you’re a high-growth DTC fashion, beauty or health & wellness brand:
In fact, any brand with multiple product sets and high SKU counts are battling complexity.
You’ve got complexity in inventory
You’ve got complexity in margin
You’ve got complexity in operations
You’ve got complexity in new product development
You’ve got complexity in messaging
You’ve got complexity in reporting
You’ve got complexity in forecasting
You’ve got complexity in acquisition
You’ve got complexity in retention
Etc…
It’ll still be tough, but your growth will be made a lot easier if you:
> Set distinct targets for new vs existing customer acquisition, reporting on a blended business-wide perspective.
> Go one level deeper by setting distinct targets within your different product set/margin profiles, reporting on a blended business-wide-per-product-set perspective.
This will allow you to focus on the things that actually grow your business:
> Acquiring new customers
> Profit
No more making money in one area of the business only for it to be eaten up by another.
There’s a lot of data management that goes into it (and plug-&-play reporting tools often miss the mark) but properly getting under the skin like this for a fashion brand we work with has helped us help them post 49% growth YoY, and significantly increase their profits.
That’s what you’re in it for right?
You can succeed in spite of the complexity, you’ve just got to ensure you’re on top of things a little more.
Ready to conquer complexity and drive growth? We posted this on LinkedIn – join the conversation.
