Alex Frank, FCP euro, case study @ open commerce conference 2016
-
Upload
spark-solutions -
Category
Business
-
view
2.272 -
download
1
Transcript of Alex Frank, FCP euro, case study @ open commerce conference 2016
![Page 1: Alex Frank, FCP euro, case study @ open commerce conference 2016](https://reader035.fdocuments.in/reader035/viewer/2022081502/58aa71431a28abbc1e8b4e7f/html5/thumbnails/1.jpg)
Est. 1986
2
![Page 2: Alex Frank, FCP euro, case study @ open commerce conference 2016](https://reader035.fdocuments.in/reader035/viewer/2022081502/58aa71431a28abbc1e8b4e7f/html5/thumbnails/2.jpg)
![Page 3: Alex Frank, FCP euro, case study @ open commerce conference 2016](https://reader035.fdocuments.in/reader035/viewer/2022081502/58aa71431a28abbc1e8b4e7f/html5/thumbnails/3.jpg)
Decade of double-digit top line growth
$10 million in annual revenue
Abundant opportunities
A pile of cash
A 40% growth plan
The 2011 Plan
![Page 4: Alex Frank, FCP euro, case study @ open commerce conference 2016](https://reader035.fdocuments.in/reader035/viewer/2022081502/58aa71431a28abbc1e8b4e7f/html5/thumbnails/4.jpg)
40% expense increase
5% revenue growth
$1 million of profit lost
$750k bank line called
45 days to bankruptcy
2011 Results
![Page 6: Alex Frank, FCP euro, case study @ open commerce conference 2016](https://reader035.fdocuments.in/reader035/viewer/2022081502/58aa71431a28abbc1e8b4e7f/html5/thumbnails/6.jpg)
Growth
Death
InflectionWe had to make a notable change to our business
That change had to be different than everyone else
![Page 7: Alex Frank, FCP euro, case study @ open commerce conference 2016](https://reader035.fdocuments.in/reader035/viewer/2022081502/58aa71431a28abbc1e8b4e7f/html5/thumbnails/7.jpg)
We were on a legacy white-box ERP/CMS
We had stretched ourselves too thin
We were disappearing into a commoditized market
What we were doing wrong
![Page 8: Alex Frank, FCP euro, case study @ open commerce conference 2016](https://reader035.fdocuments.in/reader035/viewer/2022081502/58aa71431a28abbc1e8b4e7f/html5/thumbnails/8.jpg)
We could not develop anything on the platform
We needed a viable Rails eCommerce solution so we could quickly prototype
We needed flexibility for integrations and customizations both for UX & backend logic
We were on a cumbersome & inflexible platform.
![Page 9: Alex Frank, FCP euro, case study @ open commerce conference 2016](https://reader035.fdocuments.in/reader035/viewer/2022081502/58aa71431a28abbc1e8b4e7f/html5/thumbnails/9.jpg)
We could not develop anything on the platform
We needed a viable Rails eCommerce solution so we could quickly prototype
We needed flexibility for integrations and customizations both for UX & backend logic
We were on a cumbersome & inflexible platform. We immediately integrated
deeply with industry data formats
We developed custom features to build catalogs in mass
We abandoned our white-box website and transitioned to the Spree site
We Integrated With Spree
![Page 10: Alex Frank, FCP euro, case study @ open commerce conference 2016](https://reader035.fdocuments.in/reader035/viewer/2022081502/58aa71431a28abbc1e8b4e7f/html5/thumbnails/10.jpg)
We were operating too many websites
We were selling through too many channels
The team was scattered across to many projects
We were distracted
![Page 11: Alex Frank, FCP euro, case study @ open commerce conference 2016](https://reader035.fdocuments.in/reader035/viewer/2022081502/58aa71431a28abbc1e8b4e7f/html5/thumbnails/11.jpg)
We were operating too many websites
We were selling through too many channels
The team was scattered across to many projects
We were distracted
We consolidated extraneous channels
We put our employees on the projects that contributed the highest value
We abandoned existing revenue in favor of potential performance
We focused
![Page 12: Alex Frank, FCP euro, case study @ open commerce conference 2016](https://reader035.fdocuments.in/reader035/viewer/2022081502/58aa71431a28abbc1e8b4e7f/html5/thumbnails/12.jpg)
There was a massive amount of competition
There was clear commoditization of the products in the market
Market boundaries were solidified and stable
We weren’t standing out in the market
![Page 13: Alex Frank, FCP euro, case study @ open commerce conference 2016](https://reader035.fdocuments.in/reader035/viewer/2022081502/58aa71431a28abbc1e8b4e7f/html5/thumbnails/13.jpg)
There was a massive amount of competition
There was clear commoditization of the products in the market
Market boundaries were solidified and stable
We weren’t standing out in the market
We observed what was causing our customers trouble
We identified what the competition was afraid to offer
We implemented a lifetime replacement warranty on all car parts
We differentiated
![Page 14: Alex Frank, FCP euro, case study @ open commerce conference 2016](https://reader035.fdocuments.in/reader035/viewer/2022081502/58aa71431a28abbc1e8b4e7f/html5/thumbnails/14.jpg)
We focused on catalog expansion & optimization
We marketed our value propositions
We focused on the speed and usability of our website and backend
The next 2 years
![Page 15: Alex Frank, FCP euro, case study @ open commerce conference 2016](https://reader035.fdocuments.in/reader035/viewer/2022081502/58aa71431a28abbc1e8b4e7f/html5/thumbnails/15.jpg)
25% Revenue Growth
Double earnings
Bring our differentiator to the community
Bring in experts in automation & data
Focus and convert to 90% web sales
The 2016 Plan
![Page 16: Alex Frank, FCP euro, case study @ open commerce conference 2016](https://reader035.fdocuments.in/reader035/viewer/2022081502/58aa71431a28abbc1e8b4e7f/html5/thumbnails/16.jpg)
95% online sales
50% growth on the website
First meaningfully profitable year
Hires for data & automation are building apps to monitor market and competitor trends
New FCP race team
2016 Results
![Page 17: Alex Frank, FCP euro, case study @ open commerce conference 2016](https://reader035.fdocuments.in/reader035/viewer/2022081502/58aa71431a28abbc1e8b4e7f/html5/thumbnails/17.jpg)
Integrate with systems that keep you nimble
![Page 18: Alex Frank, FCP euro, case study @ open commerce conference 2016](https://reader035.fdocuments.in/reader035/viewer/2022081502/58aa71431a28abbc1e8b4e7f/html5/thumbnails/18.jpg)
Have the discipline to abandon distracting activities
![Page 19: Alex Frank, FCP euro, case study @ open commerce conference 2016](https://reader035.fdocuments.in/reader035/viewer/2022081502/58aa71431a28abbc1e8b4e7f/html5/thumbnails/19.jpg)
Differentiate
![Page 21: Alex Frank, FCP euro, case study @ open commerce conference 2016](https://reader035.fdocuments.in/reader035/viewer/2022081502/58aa71431a28abbc1e8b4e7f/html5/thumbnails/21.jpg)