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How Obvi Overcame it's Biggest Challenges
Aug 8, 2024
Ron, Ash, and Ankit, the co-founders of Obvi, share their journey of overcoming significant business hurdles. They discuss their identity crisis as a brand and the importance of adapting marketing strategies. Their insights on managing supply chain issues and embracing pre-order models are enlightening. They emphasize brutally honest SKU rationalization and the strategic use of credit to improve cash flow. Open communication and creative testing in advertising emerge as vital themes, offering invaluable lessons for aspiring brand builders.
54:31
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Quick takeaways
- Implementing a pre-order strategy can significantly enhance sales by generating customer urgency and optimizing inventory management.
- Brands must maintain a consistent identity aligned with their core offerings to prevent confusion and strengthen market positioning.
Deep dives
Pre-Order Strategy Boosts Sales
Implementing a pre-order strategy can effectively drive sales by creating urgency among customers. By promoting products set to launch with a delayed shipping date, businesses can generate anticipation and encourage potential buyers to reserve their items early. This strategy not only boosts sales before the product is available but also helps to sell through inventory rapidly. Such an approach has proven to be beneficial, as it often results in higher initial sales figures compared to traditional launch methods.
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