Click:Connect:Sell- A Bright Idea Turns Global: The Mathmos Story
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Transcript of Click:Connect:Sell- A Bright Idea Turns Global: The Mathmos Story
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A Bright Idea Turns Global:THE MATHMOS STORY
CRESSIDA GRANGER M.D.
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“ The Perfect Gift for one’s friends one’s relatives and dash it all oneself ”
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Manufacturing the original lava lamp in Dorset
Mathmos also designs a range of other ambient lights
Our lamps are mainly for home use, often bought as gifts
We also supply bars, clubs and sensory rooms
Most of our sales are export
Twice winners of the Queen’s Award for Export
MATHMOS BUSINESS
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WHOLESALE TO ETAILTraditionally we sold direct to retailers in some export markets
Through agents and distributors in others
We were online early with an award winning website in the 1990s
Gradually more business has shifted to online sales direct
We are now 50/50 turnover
But contribution is far higher for the etail side
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BENEFITS OF ETAIL OVER WHOLESALENo middle men pushing up prices and eroding margin
No waiting and chasing for payment
Control over your product and brand presentation
Less stock, less cash, less headache for the same profit
Direct relationship with the end consumer
No price wars eroding the value of your goods online
No wholesale costs; trade fairs, brochures, staff…
Speed of innovation and communication
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WHY BOTHER WITH WHOLESALE ?To reach minimums for overseas production
To maintain a high street presence for our products
We make some money..
To supply public spaces and business areas we can’t reach directly
To reach export markets who are behind online
To sell very low value items
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OUR ETAIL STRATEGYLocal sites, hosting, currency, languages and support in key countries
Pan European site scooping up the rest
Exclusive international etail model out of Europe
Focus on owning a niche and driving people to the sites that way
Proactive online PR, targeted AdWords spend
Amazon across Europe
We have just begun
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MANAGING THE TRANSITIONSevere pruning of our customer base
New Terms and Conditions for existing retailers
Close management of our I.P. images, trademarks etc.
Use Amazon marketplace not as a customer or route for others
Constant close monitoring of the online space
Be brutal control your own brand, products and profit
Our aim is to have the shortest route to the consumer
over as much of the world as possible.
THANK YOU