How Adding Value Can Revolutionize a Simple Product
In this episode…
Have you been thinking about creating an innovative product to serve a certain audience? Is there a similar — but boring — item in the market that could use a boost in value to create a better product?
In this episode of the Relationship Commerce Podcast, Kara Goldin, the Founder and CEO of Hint, joins Dean Dutro to explain how something simple and boring can be re-created to produce a revolutionary product for the market. Kara talks about her journey to founding Hint, the challenges she faced along the way, and why she focuses on direct-to-consumer sales for her brand.
Kara Goldin is the Founder & CEO of Hint Inc., a healthy lifestyle brand that produces award-winning, unsweetened flavored water as well as scented sunscreen that's oxybenzone and paraben-free. She has received numerous accolades including being named EY Entrepreneur of the Year for Northern California in 2017, one of Instyle's 2019 Badass 50, and one of Fortune's Most Powerful Women Entrepreneurs.
Kara is also the author of Undaunted: Overcoming Doubts and Doubters and host of The Kara Goldin Show.
What Can Added Value Do For Your Product?
Entrepreneurship can be triggered by a lot of different things. Some people become entrepreneurs out of necessity while others transition in search of better business opportunities. Some also do it because of a desire to help their loved ones solve their personal problems.
Kara Goldin started her flavored water company, Hint, out of a desire to create a tasty and healthy alternative to plain water. She looked for creative ways to add value to water and, in the process, ended up creating a revolutionary product that was not available in the market. Out of that, she has built a thriving business and her brand is now easily available in different retail and eCommerce stores.
If you are also planning to go into entrepreneurship, you may consider adding value to an existing product to make it more attractive and valuable to customers. You don't always have to create new products from scratch — but you can make good use of what exists in the market to come up with a better product.
How Listening to Your Doubters Can Be Beneficial
When Kara started Hint, many people discouraged her. She came across many doubters who didn't believe that her business idea was viable or that she could build a thriving business out of it. This is because most of the drinks sold in the market were sweetened and despite all the health talk, no one seemed to care that soft drinks contained a lot of calories and sugar. However, through determination and belief in her product, Kara persevered.
Many entrepreneurs who create a new revolutionary product often experience this. Those who strongly believe in their ideas move forward and sell their new products, but some give up because of the negative talk.
Kara’s advice is to listen to your doubters and pay attention to what they say. They can provide some useful insight that entrepreneurs can use to create better products for their target customers.
The Benefits of Selling Directly to Consumers (D2C)
If you run an eCommerce brand and most of your sales come from either big retail stores or you rely on one major buyer, then you may need to reconsider. Instead, diversify to sell directly to consumers. Why? Your major buyer may decide to drop your products and this could have far-reaching consequences for your brand.
This is what happened to Kara when she received a call from Starbucks. The company had changed its business model and decided to drop her products. This had a big impact on her business because 40% of her sales were from Starbucks. To remedy this, she decided to diversify and start selling directly to consumers (D2C).
D2C also helps brands learn more about their customers. Kara found out that her Hint customers were also interested in health-related products and equipment, which helped her look for ways to reach out and communicate directly to her customers.
Resources Mentioned in this episode
- Worth eCommerce
- Hint on Amazon
- Kara Goldin on LinkedIn
- Undaunted: Overcoming Doubts and Doubters by Kara Goldin
- The Kara Goldin Show
- Centers for Disease Control and Prevention (CDC)
- "Why Delegating Too Much Can Take Away Your Control" with Neely Woodson Powell
- "The Value of Investing in Repeat Customers" with Pete Williams
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 ecommerce businesses generate more than a million dollars a year each in revenue using their own marketing channels.
To learn more about Worth eCommerce, visit http://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.