DTC Winners: Succeeding w "Good Enough" Products
Mike Concannon
Help CEOs build scalable and sustainable growth engines to overcome sales, EBITDA, innovation, and brand management challenges. B2C, B2B, Private Equity, Consumer, Healthcare.
I just completed a deep dive analysis into 20+ DTC brands that have/are winning in the marketplace - winning, as in growing revenue, reaching profitability (not just high valuation, raising funds).
A common thread ... the core product has been intentionally designed to be "good enough".
The brands are winning with a "good enough" product by introducing "shock & awe" into the user experience - simplification, customer friendly, over-the-top service. Harry's Razors and Casper mattress are too well known practitioners of this model, but there are many others, and they are not all mega-funded.
This "good enough x radically elevated user experience" model that is winning is best summed by renowned tech entrepreneur Phil?Lessin: ?
“The thing to understand is that ‘good enough’ products aren’t purely commodities racing to the bottom.?They are a class of products where?the end-to-end experience?of?selection, purchasing, and customer service?is more important than the product itself.”
The winning brands have put themselves into customer's shoes and practice ... radical focus x radical simplicity x radical service.
O.D.O.o.O.D.B.