Tim Tierney, a student and member of the Tribe, was highlighted in an early episode of Freedom Fast Lane TV. In this episode, I give a quick update on Tim’s progress.
Tim’s brand, Mommy Knows Best, was doing about $50,000 a month. Then, taking some of the advice that we talked about in Episode Two, he grew that and his last 30 days have been $120,000 in sales.
So he has more than doubled business sales as a result of implementing the strategies that we talked about here on Freedom Fast Lane TV.
Guess what? This stuff works.
So, if you want to see the old business, you can head over back to the second episode of FFLTV and just note that they implemented what we talked about and they more than doubled business sales.
Tim also has a second brand that sells fitness equipment. They’re currently doing about $200,000 a month.
Awesome job, Tim!
By the way, Tim is inside of the Tribe, which you can join at FreedomFastLane.com/tribe. That’s where we put our seven figure brand owners, retail partners, investors, and we do all kinds of cool things and create opportunities and relationships for them to grow.
So, this is my recommendation today, Tim. Tim, you’ve done some things really, really well in this fitness brand. But everything that you’re selling from the outside, from my experience, looks like really, really low margin products.
I made this recommendation to the Zigler’s on the episode where we analyzed the business I love where I said, the next step for you is rolling out really high margin products. That’s the advice that I’m going to give to Tim as well.
Right now they’re selling a lot of entry level products. So, the place where the profit is really going to grow the fastest is if we can roll out either a different line of products or a line of products on top of, like a premium version of what we’re already selling.
In order to do that, I would put all of your attention for the next 90 days on getting as many of your existing buyers to be repeat buyers in the form of leads.
So, one of the things that we talk about inside of the Tribe, one of the trainings we put together, is about turning sales into customers. When someone buys on Amazon they’re a customer of Amazon. They’re not really buying from you unless they typed in your brand name and they’re buying from you specifically.
So, since Tim’s products are ranking really well but they’re also very low priced, my assumption is that most customers are just shopping for the products themselves, buying and saying, I got this on Amazon.
So, it’s my recommendation that you put the next 90 days of effort into putting inserts into your packaging, to retargeting them on Facebook, to getting in front of them so they know about your brand and they become fans and subscribers of the brand. If you do that, you’ll start to collect an email list that you can launch higher margin products to.
If you do that and you have both the low end of the market and the high end of the market covered, you’ll get more customers and you’ll also get better customers buying the top end of the product line. There’ll be higher margins so you’ll be able to spend more on marketing and it’ll make your profits a lot healthier.
The other thing that I might suggest doing at this point is this is where you could spend some money on outside traffic. Since you’re already at that $200,000 a month mark, this is the part where you could start bringing in influencers.
This is the part where you could start putting some cold traffic onto Facebook, onto Instagram. What I’d recommend is that you give your products to people who either have the look of the customers you’re trying to attract or to celebrities and influencers.
Get them to take pictures of them using the product and then use that as the asset and the ad that you’re going to run on Instagram and you’re going to run on Facebook. What you’ll do here is you’ll drive that traffic to a landing page talking about your products.
I’d suggest making a bundle of your products so that you get the maximum price point of everyone who sees it and then either collect an email address offering a 10% discount code or simply asking for the order on that sale and then retargeting them with other images and videos of people talking about why they like your products.
This is the part, you’re at that final stage of growing a business where you’ve got profit, you have margin, you have a customer base, so you can afford to spend money on that type of advertising.
And that’s the type of advertising that I’ve seen be effective for a business of this size.
So, role out some new products with higher profit margins and also spend some of that profit on getting people using your products, specifically influencers. Take their images and videos, run them on Facebook and Instagram, drive them to a landing page, and then retarget them with other images and videos of people talking about why they love your products.
That’s what’s going to grow your exercise brand to the next level.
Hey, if you’ve been watching the show and you see all of these case studies and you’re like, well dang, there’s all these people doing so well with these physical products businesses, we have a training called The Brand Builder Bootcamp, you can check it out at FreedomFastLane.com/bootcamp, where we take people through a 90 day process from idea or no idea to having their first product up and selling successfully within about 90 days.
It’s basically a 90-day bootcamp to take you through the process of what it requires to have one of these products up and launched and building a sustainable, scalable brand.
If you’ve already got your first product up and selling successfully, I’d invite you to apply for the Tribe. The Tribe is where we put our best people together. They invest in each others’ businesses, they start new businesses together, we help people get into retail, we help people get funding if they need it.
We even will take our successful students who are making an impact and we’ll write about them on www.capitalism.com.wpengine.com or feature them here on the show.
So, that’s at FreedomFastLane.com/tribe if you’re ready for the relationships and the opportunities that will grow the business that you have.
MORE GREAT BUSINESS CASE STUDIES WITH RYAN DANIEL MORAN:
• Hitting the Million-Dollar Mark with Dog Products – #FFLTV Case Study
• Perky Perky is Coffee with a Purpose – #FFLTV Case Study
• Baby Making: Raising Capital to Promote Natural Fertility Products | Case Study #FFLTV Ep. 14
