Introduction: Lab 916 partnered with Rapid Brands, a successful Shark Tank brand, to overcome their profitability challenges on Amazon. Despite their prior B2B success, Rapid Brands faced difficulties in harnessing the potential of the Amazon B2C market.
The Challenge: Rapid Brands, led by Chris Johnson, creator of the Rapid Ramen Cooker, struggled to build their brand on Amazon. Despite success in retail stores nationwide, they faced obstacles in direct-to-consumer (D2C) marketing and Amazon brand establishment, leading them to consider abandoning the platform.
Our Strategy: Understanding Chris’s vision and challenges, we devised a comprehensive 5-year Amazon strategy, executed over 2018-2023. Our approach included:
- Enhancing product listings to be retail-ready.
- Resolving brand name technical issues, enabling effective use of Sponsored Brand ads.
- Addressing bad reviews and controlling buy boxes to maintain brand image.
- Implementing a behavioral change in selling and growth strategies on Amazon, rooted in data-driven decisions.
Stellar Results: Our tailored strategy led to exceptional outcomes:
- Net margins increased by over 38%.
- Average selling price rose from $11.58 to $13.72.
- Average sales per order improved by 15%.
- Amazon payout increased from $602,428 to $774,925, a 28% rise.
- Net ROI improved by over 75%.
The Transformation: Rapid Brands company witnessed a dramatic transformation under our guidance. From averaging $40K per month in 2018 with unprofitability, by 2022, they were not only profitable but averaging $145K/month.
Conclusion:
This case study exemplifies our ability at Lab 916 to navigate complex platforms like Amazon and dramatically improve brand performance and profitability.
