ASSESS
Data:
Dumbgood should first be looking at sell throughs around the MVP and then the cut and sew collections if they moved forward. Dumbgood should be analyzing customer conversion rate, analyzing the sales funnel on the website and checking ad performance for each new license release. We should also see customer satisfaction rates go up by analyzing traffic on social media around both the MVP and cut and sew product releases.
Dumbgood should be looking to increase speed to market on new licenses utilizing the DTG capabilities, to print and test t-shirts with new licenses with its customers. This should be considered the MVP of the brand for each property on the calendar. Using this MVP strategy they should be able to reduce liability in inventory and reduce stress on overseas partners. This will also allow Dumbgood to better understand the type of licenses that its customers are interested in which should lead to a higher conversion rate / increased revenue and better sell throughs.
Customer Feedback:
If we are truly taking into account the customer personas when selecting the licensed properties we bring to market, we should see a dramatic swing in customer satisfaction and retention. If Dumbgood follows its MVP strategy and allows the customer to be the voice of the brand through their purchases we will see an increase in social media buzz and organic hype created by the customers. This strategy should also be reducing the amount of customer complaint tickets and increase the AOV and return customer rates. We should also analyze the email signup and followers across all social media to determine customer satisfaction.
Launch Findings:
Based on this development strategy, Dumbgood should learn who its customers really are. We should be learning what types of licenses they react best to, and what their interests are. This should be evident in the success metrics outlined in previous sections. The design and development strategy incorporating the MVP should be helping to reduce the amount of un-sold inventory on hand and reduce the amount of discounted product we sell on the site.
