Mike Lindell is a smart guy and an excellent businessman; look what he’s done with a plebian product (pillows) and leveraged them into an empire. He really hasn’t put a foot wrong….good usp, good selection, leveraging pillows into associated products, guaranteed success with the product, good customer experiences provided. OK price points, but the value is there, so it works.
One also senses Mike has been around the block more than a few times.
On the other hand, there’s Tom Patterson and Erin Fukimoto, also trying to take a plebian product (mens and women’s underwear) into the big time. But the value proposition isn’t there (their products are about twice as expensive as others on the market), there’s no guarantee of success with ‘best pair you’ll ever wear’ (which is good, but there isn’t a free trial period and guaranteed success….free returns. Only money off, which is just part of the promotional equation.
One senses Tom and Erin still have a lot to learn, but they’re out on a limb with the underwear. Where Lindell did his market research at county fairs, it’s not clear T & E have done much. Even at 25% off, my research suggeests that their underwear is still much more expensive than the competition.
T &E could offer a money back guarantee…none of our clients has EVER had more than 10% of sales returned, which is not too bad. 60 day trial would be good. Free returns with a 60 day trial would work. In other words, go look at the Lindell playbook. OK T&E, Christmas is coming, you’re sorta stuck where you are, but you can fix things for the New Year.
The bottom line for all you readers is that when you’ve got a product idea, do some customer focused research, be guided by it and use all the promotional elements. Make sure they’re all considered before you even launch.