SPORTS E-COMMERCE BUSINESS GROWS 35%, GETS ACQUIRED
With 7 brick and mortar retail locations, this $15 million business was a regional leader in sporting goods. The company’s main partners included big brands like Nike and Adidas. Facing increasing pressure from e-tail competitors in the industry, as well as from Amazon and Walmart.com, profitability and same-store sales were stagnant.
Successive years of stagnant revenue from retail coupled with a feeling of being “left behind” by online competitors forced ownership to explore their options. Internal sales and marketing efforts were handled by a founding partner, whose background was as an athlete, not a marketer. The company’s website was originally built by a local development shop. While functional, it was not actively promoted. Customers frequently asked about online price comparisons and the ability to order from the web. It was time.
- Hire a local marketing agency with online capabilities to overhaul the website and run Google ads.
- Recruit new talent to join the small management team, to focus on online sales.
- Partner with Growth Partner to develop a marketing solution that management could continue long-term.
Based on our strong history of helping mid-sized business become leading competitors online, a growth partnership was struck. Immediately, we re-did the website and invested heavily in research on the existing competition. Our ultimate strategies included increasing online traffic via Adwords optimization and SEO, as well as re-marketing campaigns to the existing customer base.
Growth Partner successfully took this stagnant e-commerce business to be the #2 e-commerce player in their industry. Online sales jumped from less than 8% of sales, to nearly 35%. During our two year engagement, the company’s online sales grew over 350% per year before they were acquired by a regional conglomerate.