Ben Panzarino wasn’t looking for a quick buck when he bought Condomania at the height of the COVID-19 pandemic. As a digital marketing expert turned entrepreneur, he bought the company, which is one of the largest condom retailers in the United States, as a passion project. No pun intended.
His goal was to continue building an impressive brand and take Condomania on the long road to becoming number one in its industry. While some have said buying a business during a global pandemic is madness, Panzarino has discovered that it’s not so bad if you’re willing to give it your all.
First tip: get into a serious relationship
The first thing Panzarino learned is that you shouldn’t buy a business if you’re not ready to commit. Owning a business means having a special relationship with that business. It’s not a casual relationship. You must be turn or die.
Whatever the business, whether it’s a 100% online store like Condomania or a more traditional brick and mortar business, for it to be successful it needs to be an integral part of your life. . You must be willing to change some of the things you are currently doing. You will definitely have to change your schedule. You will probably need to change your mindset.
Typically, businesses do not grow on their own. You have to put the resources there. If you really want him to succeed, be prepared to go all out. You must like it.
Tip 2: Spice it up
Condomania was doing well when Panzarino bought it, but he thought he could do better. He saw an opportunity from the start and he still sees a huge opportunity to take a brand that needed some love and give it some of that love. So he took some steps to energize the business.
One of the things Panzarino decided to do was spice up the customer experience. This included a few simple steps like sending more consistent and engaging email messages to Condomania customers. After fulfilling an order, they follow it up a few days later with an email with advice on the proper way to put on a condom or what types of lubes they recommend.
Most importantly, Panzarino has taken certain steps to ensure that its customers have a great experience when they open their order. He explored what he could do to take unboxing to the next level. Now, when people receive their items, they find stickers, brochures, and word searches, making it a more exciting touch experience.
Panzarino tries to put itself in the shoes of the consumer. He asks himself: “What would be really exciting for me to enter this club? If it excites him, I hope it excites other people and they come back.
When deciding what this looks like for your business, tailor it to your personality. Panzarino has a quirky personality and he tries to put in everything Condomania does. Don’t worry about copying your competitors. Add your own fun flair to the experience.
Although such efforts take time, energy and resources, they tell your customers that you care about more than just a sale; he says you want to have a long term relationship with them.
Tip 3: Get to know your product intimately
When it comes to business, Panzarino wants to know how everything works. He believes it is essential to understand how things have been done in the past and what changes need to happen for things to be optimized. While you can’t always be the one in charge, until you get involved and figure out how to do things, you won’t be able to know who the best people are to fill in the blanks when you have to move on. to another part of the Company. Do not leave anything to chance.
One thing he did at Condomania was move their warehouse into the house. Many e-commerce brands have warehouse providers, which means the boxing is completely out of their hands. At Condomania, they had a lot of shipping issues in the first year. They responded by taking that aspect of the business in-house.
Once they brought the inventory in-house, everything became so much easier to visualize for Panzarino and his team. They knew what inventory they had. They knew what it looked like. They knew the difference between an eight ounce tube and a twelve ounce tube. They could hold a product in their hands and get an idea of the quality. If it looked like the quality was poor, they could cut it on the spot and avoid complaints and returns.
The change wasn’t just about being able to physically touch the products and see what they looked like and see what customers would experience. It was also to ensure that the company shipped products the same day they were ordered, accurately and packaged in a way that gave customers an exceptional unboxing experience.
Handling packing and shipping in house was a much better experience for Condomania than with a third party shipping company when the items were literally out of their hands. You can have a really cool original brand experience and a fun website, but at the heart of it people want to get their products and they want to get them fast. This is Panzarino’s core business and he made sure that part of his business was optimized.
Overall, you need to stay focused on the idea that the business is your baby. You need to commit to it, know it well, and help your customers experience it. If you don’t love your business, why should anyone else?
Posted on December 4, 2021