The next book our Bridge team may read is John List’s book The Voltage Effect. List, who is a behavioral economist at the University of Chicago, shares a variety of suggestions to grow a business. He warns us about false positives, such as what the “Just Say No” drug campaign experienced. He suggests we look for businesses with scalable ingredients. (People are not scalable, but good news for Bridge: software is!)
I'd add to List's advice this simple maxim: show ...
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My friend works at the Swiss running shoemaker ON. She recently texted me and suggested I try their running shoes. Three weeks later, I was handling two boxes of their Swiss engineered shoes. On one ON shoe, there is a little Swiss flag and the words “Swiss Engineering” printed. When I get a pair of Nike’s, they don’t say "Beaverton-engineering" or "US-engineering." Nor do Adidas shoes proclaim “German engineering.” ...
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While eating a slice of coal-fired pizza at Arturo’s in Soho yesterday, and getting an occasional whiff of Houston Street garbage, I had to admit: I was at a loss for insight to share with my coworkers this week. Each week, I send out a motivational message to my team that precedes a summary of what they accomplished. We call this report the Brick report. This would be my seventy-second Brick introduction: What else could I say--and would they miss it if there was not an introduction...
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Businesses like Walmart, Disney, and Discovery are bundling services and adding the “+” suffix to denote them (e.g. Disney+, Discovery+, W+, etc.). In a recent article in RetailDive, we learn that Walmart is giving its customers free, six-month trial Spotify accounts. I think W+ bundling services is smart. Last week, I compared running a gym to offering software. I spoke about bundling services with things that people like to increase their usage, such as work ...
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In the movie 'We’re the Millers,' a character played by Jason Sudeikis interviews a teen boy wooing Sudeikis’ teenage daughter. Sudeikis interviews the boy about his interests and compatibility with his daughter. (Watch the scene here: https://www.youtube.com/watch?v=rjkLKKgOMRY .) The boy’s neck tattoo reads “No Ragrets.” When Sudeikis inquires about this tattoo, the boy confidently claims that he has no regrets, to which Sudeikis asks, "Not even&...
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This past weekend on the way to Florida to visit my brothers, I read about Squarespace’s advertising history. (Read the article: https://www.nytimes.com/2022/02/13/business/how-did-squarespace-know-podcasts-would-get-this-big.html). In 2009, Anthony Casalena, the founder of Squarespace, paid $20,000 to advertise on a tech podcast. While that was a lot for a small, young company (Casalena had started his business just six years earlier in a dorm room in 2003), Casalena said the ...
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Your Bridge has a new feature: you can now easily promote financing to your customers. Next to products, you can now display the text alert, "We offer financing for purchases. To learn more, please call our store [insert tel.] or message us here."
We added this feature because the service of 'Buy now, pay later' (BNPL) has been gaining popularity online.
By default, jewelry and watch products will show this financing alert.
If your stores wish, it can turn off this text alert....
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Scott Galloway, in his Chart of the Week email, shares that Amazon often ships an order within 45 minutes of receiving it. How long does it take your store?
For indie store to compete, we have to offer competitive pricing and shipping times. Bridge's goal is to help retailers offer the same or lower prices and offer the same or faster shipping.
In the book Great by Choice, Jim Collins posits that processes are key to an organization's success. As an example, he cites John Wooden, the NCAA championship-winning UCLA basketball coach, who trained athletes on processes that included everything from shooting to tying one’s shoelaces. In practicing, a player may perfect their shoelace tying and do thousands of repetitive free-throw shots. When we watch a game from the nosebleed seats like me (...what can I say, I’m ...
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Scott Galloway, an NYU marketing professor and soon-to-be CNN host, suggests that when we assess a market, we start by asking how much one's experience using the service has changed in the past few decades. For example, when you go to your doctor’s office, if you were to spin around and pretend it’s 1990, how different is your experience today vs. 30 years ago? Scott often critiques doctors' offices, hospitals, and colleges because he believes they have not evolved enough in services...
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Watch this video to learn five proven steps to grow web sales. Join me and Gina Thesing from Ivystone as we pull back the curtain on industry trends and delve in to solutions indie stores are using each day.
Webinar includes:
Five key steps that a store must take.
A homework check list that you can tailor to your store.
While watching Salvage Kings, a Hulu TV show about a Canadian salvage company, I learned that the Nash automobile company’s 1920s slogan was "Give the customer more than he has paid for.” From Wikipedia, I learned the cars lived up to their slogan:
“Innovations included a straight-eight engine with overhead valves, twin spark plugs, and nine crankshaft bearings in 1930....A long-time proponent of automotive safety, Nash was among the early mid- and low-priced cars ...
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I've watched brands use social media to do an end-run around retailers. A recent article from RetailDive substantiates this. Excerpt:
"75% of social media users said they increased their purchases from brands they follow... A 2021 study from NPD found that 51% of survey respondents said they bought items thanks to content in their Facebook and Instagram feeds."
Translation: 75% of shoppers bought more from brands directly--which is bad for retailers. The article ...
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