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283 | Brand Loyalty: Creating Value Beyond Price | with Nicholas Hernandez

Honest Ecommerce
Honest Ecommerce
Episode • Jun 24, 2024 • 35m

Just two weeks after graduating from high school, Nicholas plunged into the vibrant world of television, initiating a career that would meander through the exhilarating realms of entertainment and entrepreneurship. 

After 7 years in “the business” the transition into married life marked a significant turning point, prompting Nick to navigate towards the startup ecosystem in search of a more balanced schedule. As the third hire at an emerging startup, he was instrumental in expanding the company to a powerhouse of 40 dedicated employees, steering it towards remarkable growth and success. 

Nick's professional narrative is highlighted by his key role in establishing major partnerships with entertainment juggernauts such as Disney, Paramount, and CBS. Through his expertise in negotiation, innovative merchandising, and strategic market introductions, Nick masterfully brought extensive collections to the forefront of the industry. 

Currently, Nick is channeling his profound experience in startups to aid The Felina Group in its quest to dominate the direct-to-consumer (DTC) sector. His mission is to fortify customer relationships and spearhead the established B2B company's dive into new, uncharted waters, promising groundbreaking opportunities and growth. 

When he's not revolutionizing business strategies or leading his team to new heights, Nick cherishes driving through the serene Malibu canyons or sharing the magic of Disneyland with his daughter, finding balance and joy in these precious moments away from the hustle and bustle of work.

In This Conversation We Discuss:

  • [00:42] Intro
  • [01:33] Shifting from wholesale to direct consumer sales
  • [02:47] Blending direct sales with drop ships
  • [04:03] Starting in the television industry
  • [05:08] Discovering a knack for product development
  • [06:22] Finding a high-growth fit at Felina
  • [07:55] Recognizing smart hiring decisions
  • [09:33] Handling high-pressure situations with ease
  • [10:45] Making choices and failing fast in startups
  • [11:33] Electric Eye: your true Shopify expert
  • [12:30] Cutting unnecessary expenses from P&L
  • [14:22] Implementing immediate impact initiatives
  • [15:55] Optimizing bottom-of-funnel retention
  • [17:45] Navigating internal KPI complexities
  • [19:26] Optimizing retention strategies
  • [20:47] Volatility in paid media performance
  • [22:08] Ecommerce for customer relationship ownership
  • [22:55] Prioritizing organic growth initiatives 
  • [24:03] Organic and paid media for scalable growth
  • [25:55] Customer feedback through post-purchase surveys
  • [27:43] Transforming product value into online appeal
  • [29:49] Building brand value beyond price
  • [31:04] Aligning product value and pricing 
  • [33:55] Identifying and fixing cracks in the funnel
  • [34:47] Testing and learning from failures

Resources:

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