March 06, 2014

Rolling Out New Products

Have you had a chance to read this little ditty about books (click here)?

In television, "binging" is the new black. Netflix releases season two of "House of Cards", and folks will watch thirteen hours over the course of a weekend. Or if you never saw "Breaking Bad", you can watch AMC and catch up over the course of a long weekend.

Now that's happening in books, too. Gotta release 'em every few months to satiate the audience.

How about your business?

I've spent nearly a year telling all of you that new merchandise is the number one problem I see, across my client base. Number one. Hands down. There's not enough new product. And when products are released, they're released in one giant clump.

What's wrong with one, giant clump of new product?

The answer is obvious ... all those new products are competing against each other for a fixed customer wallet. Most of the folks I work with release a spring assortment, and a fall assortment. So those spring items all compete in March/April for the small amount of money the customer has at that time. Then again, it happens in Fall.

Think about this, folks. Take a quarter of your new products, and release them throughout the year, where applicable. Feature these new items in your email campaigns, on your home page, on landing pages. If you have a catalog, put those new items on pages 6-7, and train the customer to look at pages 6-7 every three weeks for new items.

You, too, have "fans". And those fans need to have the fire hose of new products blasted straight at them, all year long.

Think about what I just told you. If it's happening in TV, and it's happening in books, why couldn't it be something you capitalize on?