November 22, 2024

Lost Causes? Think Again—How We Revived 67 SKUs and Made $19,730 in 7 Days

Every business challenge is an opportunity in disguise—if only we care enough to look closer. For me, this realization hit during a quiet evening at my desk, scrolling through SKU performance reports.

One number caught my eye—a crepe maker with zero sales in weeks. Zero. For a product with undeniable potential, that was a gut punch. It was tempting to write it off as a loss, but then came the question that changed everything: Why?

Why wasn’t it selling? What were we missing?

I remember calling my team the next morning. “Let’s dig deeper,” I said. And we did—pouring over performance metrics, customer reviews, and even competitor listings. The results were illuminating:

  • Poor SEO had buried the product on search results.
  • Pricing wasn’t competitive.
  • The product photos were, frankly, unappealing—dark and uninspiring. The description? Generic and forgettable.

This wasn’t just a crepe maker issue. It was a broader pattern across several SKUs. But I decided to start with this one. Why? Because it felt personal—a challenge I couldn’t walk away from.

A Simple Change with Big Impact

With a small team, we made quick, thoughtful updates. Bright, inviting images replaced the dull ones. A rewritten description highlighted the product’s premium quality and versatility, making it easy for customers to see how it would fit into their lives.

And then, we waited.

The results were almost immediate. Sales trickled in, then surged. Within a week, this stagnant SKU was no longer a liability—it was a top performer. That small win lit a spark in me: small changes can unlock big results, but only if you take the time to identify and act on what matters.

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The Five-Step Plan That Followed

Inspired by this success, we built a framework to systematically address underperforming SKUs. Here’s how it worked:

  1. Data-Driven Prioritization
    We categorized SKUs into:
    • High-priority: Quick fixes with high potential.
    • Medium-priority: Moderate effort, promising results.
    • Low-priority: Time-intensive, long-term opportunities.
  2. Optimized Listings
    For high-priority SKUs, we revamped the basics:
    • Enhanced images to grab attention.
    • Rewritten descriptions that addressed customer pain points.
    • Competitive pricing adjustments.
  3. Improved Visibility
    We reallocated ad budgets and fine-tuned SEO to get these products in front of more customers.
  4. Test and Adjust
    Limited-time discounts tested price elasticity, helping us refine broader pricing strategies.
  5. Unified Collaboration
    Marketing, sales, and fulfillment teams worked in sync, ensuring seamless execution.

The Results: Numbers and Beyond

The impact was undeniable:

  • 67 SKUs sold within a week
  • $19,730 in revenue
  • A scalable framework for future inventory challenges

But beyond the numbers, this experience reaffirmed a truth I’ve carried throughout my career: adaptability and focus can turn even the toughest situations around.

Lessons for Any Business

What did this journey teach us?

  1. Start Small, Think Big: Begin with quick wins to build momentum while crafting a broader strategy.
  2. Let Data Guide You: Metrics don’t lie—use them to identify and prioritize opportunities.
  3. Collaboration Is Key: When teams align, outcomes multiply.

The Takeaway: Challenges Are Invitations to Innovate

At Ergode, we exist to solve problems and create opportunities. Sometimes, those opportunities are hidden in plain sight—in an underperforming SKU, a missed market trend, or a process that needs rethinking.

So the next time you face a seemingly insurmountable challenge, don’t avoid it. Embrace it. Dig deeper, make thoughtful adjustments, and take action. You’ll be amazed at what you can achieve.

So, dear readers, what challenge are you ready to tackle today?

Cheers,
Rupesh Sanghavi