Growing Beyond Building Your Brand
In this episode…
What’s your company’s mission statement? Is it full of vague promises and bulky words? Does it cover what actually matters to your brand? Most importantly, how does your mission statement encompass what your company stands for?
Brian Speciale, the Co-Founder of The Comfy, is Eric Stopper’s guest in this episode of the Relationship Commerce Podcast. Eric and Brian talk about Brian’s experience being on Shark Tank, the importance of a cohesive mission statement for your company, and why it’s not always in your best interest to expand your product line. Keep listening for more insights from one of Shark Tank’s most successful entrepreneurs!
Brian Speciale is the Co-Founder of The Comfy, a cozy brand selling wearable blankets. The Comfy was founded alongside Brian’s brother, Michael, in 2017, when he stumbled upon Brian’s son wearing an oversized hoodie. Just six months later, Brian and Michael were presenting their venture on ABC’s Shark Tank and struck a deal.
Since then, The Comfy has been sold across the world on Amazon and retail storefronts like Costco, Sam’s Club, and Target. The Comfy is now one of the five most successful companies in Shark Tank history.
The Power of Taking Action
When Brian Speciale and his brother, Michael, first had their idea for a wearable blanket, the same thought crossed their minds: someone has definitely done this already.
So, they let the idea marinate for the next few weeks and started doing some research. They discovered that there was no wearable blanket on the market and got straight to work looking for a prototype maker in Arizona. Six months later, they were standing in front of the judges on ABC’s Shark Tank.
What if they never made it further than that first thought? This is something we all face as entrepreneurs: the fear of not being unique enough. Brian says to combat this for himself, he’s borrowed his mother’s mantra and applied it to his own ventures: “Why not you?”
What’s Your Core Mission Statement?
For Brian, there may be nothing more important for your brand than an effective core mission statement. All too often, entrepreneurs create long-winded mission statements full of confusing words that don’t really mean anything. Your mission ends up reading more like a statement for your shareholders than a message to your customers—which isn’t the point.
Instead of focusing on flowery language, Brian says that your mission statement has to reflect what your brand truly stands for. Not only that, but it should speak to every part of your business: customer-facing and behind-the-scenes.
That’s why the Comfy’s mission statement is four simple words: we make people happy. The company focuses on treating customers, workers, and vendors the way they want to be treated, so an integral part of their marketing is handling their reviews with care, empathy, and respect. Frankly, if you have happy customers and you get good reviews, business is better. And now, The Comfy is up to almost 25,000 reviews and has 4.8/5 stars on Amazon.
Why You Shouldn’t Always Expand Your Product Line
Once your product is doing well, it can be tempting to start adding more products to your product line. You have to spend money to make money, and with a brand that’s becoming so successful, you want to make a move while the iron’s hot!
But, according to Brian, you shouldn’t expand your product line just for the sake of “building your brand.” Earlier, QVC approached The Comfy to order 200,000 units of a sweater they had created, sight unseen. They didn’t really believe in the product and it wasn’t a part of their mission statement—but they were so excited by the potential for success and QVC’s order that they fulfilled it anyway.
Guess what? The sweater didn’t do well. Their buys flatlined after the disappointment of the new product when compared to the previous year and it cost them a year of growth. Long story short, consider what your company is about and make your products based off of that—and you won’t have to pay for it in the long run.
Resources Mentioned in this episode
- Worth eCommerce
- The Comfy
- Brian Speciale on LinkedIn
- “Should Your Brand and Brand Partner Share the Same Values?” with Lindsey Wilson
- “The Benefits of Creating an Emotional Connection with Your e-Commerce Customers” with Jay Levitt
- ABC’s Shark Tank
Sponsor for this episode...
This episode is sponsored by Worth eCommerce.
Worth eCommerce is a small mighty team of eCommerce email marketers who help businesses of all sizes dramatically grow revenue with lifecycle email marketing. It is made up of copywriters, designers, strategizers, and marketing extraordinaires who specialize in nurturing relationships and guiding sales through the sheer power of email.
Worth eCommerce's sole focus is creating a lasting relationship between eCommerce sellers and their customers through the most personable form of digital connection: email. Businesses that send personable, interesting, and helpful emails earn the trust and continued business from that same customer.
Worth eCommerce’s mission is to help small medium-sized e-commerce businesses generate more than a million dollars a year each in revenue using their own marketing channels.
To learn more about Worth eCommerce, visit https://worthecommerce.com/.
For all of your eCommerce needs, here are our top recommendations:
For the ultimate eCommerce marketing platform for eCommerce email and SMS messaging, make sure to check out Klaviyo.
For the AI Visit Conversion Platform, go with Justuno. They provide intelligent lead captures, personalized website messaging, and audience analytics to convert more visitors into customers.
And if you’re looking to create, launch, and manage your SMS marketing program for your growing Shopify store, there’s no better way to do that than with Postscript. Unlock a new marketing channel guaranteed to drive revenue, not just clicks.