The GMA Experience - Preparation Strategy - Part 2 of 3
The next day I was sent a list of questions and recommended actions to take by the network.
I learned that GMA has over 5 MILLION VIEWERS!!!
They shared some numbers with me regarding what I could expect to do in terms of sales and volume. Let's just say it was a bit intimidating. I mean, we all want to do millions of dollars in sales, but creating and managing said numbers is a whole other story.
They roughly quoted the amount of visitors to be expected to my site and recommended that we move our site over to a dedicated server for the day - That made me realize the intensity of the situation. Dedicated servers mean serious stuff people!
Most websites are on shared servers but when/if you have a TON of visitors it if best to be on your own so your site doesn't crash.
I had a phone call with all of my managers and set out to figure out how we could best prepare to properly handle this exposure.
First of all I wanted to get the entire site in tip top shape, add some new products and rebrand. I'd been meaning to do so for a while, but the pending exposure of the GMA segment was some serious motivation. Because I own multiple businesses, it is very important for me to prioritize where my time is spent. There is never a lack of things to do or projects to tackle, and there are only so many hours in a day.
So with a three week timeline I took on designing, creating and adding over 30 NEW SKU's to our site. It was crucial to get the business to a place to really take advantage of the exposure and the traffic.
Based upon the range of sales numbers they gave us from previous promotions, we calculated the materials, staff, time, cost and profit at the different tiers of sales numbers. We wanted to know what we were in for across several different situations.
The CRUCIAL STRATEGY we put in place was deciding to invest minimally until after the day of the sale. Life is crazy, and often the things you never think will happen, happen. We had no absolute guarantee that the segment would air. There could have been breaking news that took precedent thus canceling our exposure!
We did a ton of prep but did not actually purchase any materials until we knew what we had actually sold. We trained some new staff, but planned on using them in other areas if the demand was not there.
My team focused on securing sources and negotiating the best deals for the large quantities of materials that would need to be purchase. *TIP - Always negotiate, especially if you are buying anything in quantity. We were able to make up significant margins that we lost from the retail pricing by getting amazing pricing from our vendors.
We fine tuned our shipping processes, labels, not details should be overlooked within your business. Little details, become a big deal when you are moving large volume.
The most important concept for you to take away from this is that there should always be strategy behind your preparation. As an entrepreneur, you must constantly have your eyes open and BE PREPARED TO HANDLE THE UNEXPECTED.
We have a very exciting new course launching THIS WEEK for EA Members that will share with you the specific strategies that I use to gain incredible exposure for my businesses.
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