How to Start Small and Grow Your Niche eCommerce Brand
In this episode…
Are you in the process of starting an eCommerce business? Do you have a great idea or concept for your product? And importantly, is it niche-specific?
Simon Booth, the Owner and Director of Kiddimoto, sits down with Dr. Jeremy Weisz in this episode of the Relationship Commerce Podcast to share his advice on how you can start small and grow your eCommerce brand by creating a niche product. Simon shares his experience pitching on BBC's Dragons’ Den, meeting the Queen of England, and the benefits of kids riding balanced bikes.
Simon Booth is the Owner and Director of Kiddimoto, a company that makes balanced bikes, helmets, scooters, and more for kids. After building a superbike-inspired wooden balanced bike prototype in his flat, the idea for the first Kiddimoto balanced bike was born.
Now, Kiddimoto has sold over 1 million bikes. With accessories lifting the business to the next level, they’ve also sold over 2 million helmets. Simon has created a company that is the leader in fun, well-crafted, and super cool ride-ons, safety wear, and accessories for kids. Simon holds a degree in Automotive Engineering from The University of Bolton.
The Benefits of Starting Small
When Simon Booth launched into entrepreneurship, he decided to make his balanced bike products himself. He was creating a new revolutionary product and entering a niche market where few people knew about the product. Because of this, he decided to produce the product in small batches as he grew his market.
So if you’re looking to start an eCommerce business in a niche market, you might want to consider starting small. At this point, the demand for your product is low and you have to work hard to reach more people and get customers. Staying small at first will give you the time and resources you need to improve on your product.
After you get to a point where you can no longer juggle between producing more units of your eCommerce product and handling the marketing, sales, and other business duties, then you are ready to find a manufacturer to take care of the production process.
How Introducing Product Accessories Could Increase Your eCommerce Sales
If you’ve been in business selling your first eCommerce product for some time and you have grown your market size, it may be time for you to get creative again and introduce accessories for the product. These are the products that your customers would need to use together with your initial product.
Simon decided to introduce bike accessories into his product line 5 years after introducing his first niche bike into the UK market. Helmets, gloves, and other gear needed to ride their balanced bikes were added to their store—leading to an increase in demand, sales, and profit.
Before introducing any new products, you need to take your time and build the market for the first product you created, especially if you target a niche market. Use this time to figure out the best marketing strategies for introducing the new accessories to your audience. For Simon, demand for his products substantially multiplied after he appeared on BBC's Dragons’ Den.
How a TV Appearance Can Dramatically Lead to Increased Sales
To grow and scale your eCommerce business, you need to market your products effectively. If you produce and sell a revolutionary eCommerce product that isn’t well-known in the market or by your target consumers, a TV appearance could help with creating awareness around the product.
When Simon Booth made an appearance on BBC's Dragons’ Den, a UK version of Shark Tank, he saw an increased demand for his balanced bikes. Even his competitors were happy because the exposure meant that more people would be searching and buying bikes from them. His inbox was full of emails the next morning from different buyers—and from there, the business grew by 400% in the first year.
But, before making an appearance, you have to be prepared to mass-produce your eCommerce product because of the increased number of orders that will be coming in. Most large retailers have high demands and expect to have the products delivered to their stores in the shortest time possible.
Resources Mentioned in this episode
- Simon Booth on LinkedIn
- Dragons’ Den
- Duncan Bannatyne
- Hilary Devey
- "How to Grow Your eCommerce Brand Through Brand Ambassadors and Partnerships" with Rob Fraser
- "Educating Your Customers and Increasing the Market" with Dane Chauvel
- Dr. Jeremy Weisz on LinkedIn
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/.
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