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And this highlights the conundrum I think, trying to max profits without spending advertising money or discounting product.
Being an internet business is actually hellishly expensive. The cost of staying on page 1 is enormous and the googles of this world change the criteria to how that happens fairly frequently causing never ending and increasing cost (hence influencers appeared, now influencers charge a fortune....)
It's a balance and Cheryl C seems to tuned to playing the game effectively.
I agree Bishman that social media influencers on YouTube and Insta is definitely where the brand should be positioned not only on the telly should be a mixed approach... Emma Sleep is all over it on Instagram promotions sharing via discount codes and influencers getting a slice of commission for every buyer. Influencers come at a big price tag nowadays tho.
I've said it before, EVE needs to get the product promoted by social media influencers on YouTube and Instagram. These lifestyle and design channels have vast audiences, primarily aspirational women who I think will respond well to EVE's brand. Women also control most discretionary household spending and make most of the decisions on such things. Generally.
EVE mustn't and shouldn't discount. That is never sustainable in the long-run and degrades the brand.
I think our CEO knows all this stuff. The appointment of the new agency is a very positive step. Cheryl wants to make her mark, not just be a custodian.
100% confident the results will be good. I suspect the uptick in sales provided justification for the agency spending.
It's just nice to follow their marketing :-)
Keep tabs on how hard they're trying.
hmmm..... too late for the figures....talk about trying to read the runes....
Talk of the Devil: Discount code promotion in The Independent (including £50 for referring a friend, Samkk?, 2 for 1 pillows etc)
Summer entertainment 2020: Best discount codes from Ideal World, Eve Sleep and more
Keep the boredom away with these deals
ADVERTISEMENT FEATURE
30 minutes ago
https://www.independent.co.uk/extras/indybest/deals/summer-entertainment-2020-discount-code-garden-home-disney-groupon-audible-a9615856.html
What I'd give for a nice long sleep for a week - it;s goning to feel a long week waiting for the trading update. For me, it's a case of how positive, not whether or not it is positive. I hope it starts to attract a new breed of investors.
I think Eve need to be highly competitive with pricing (buyers look for value, esp now) but wish do that without inflating their prices first, only to discount heavily in order to look like a 'bargain'. She seems to want Eve to be a highly credible & profitable company, that's not just a mattress company. I think her horizons go way beyond mattresses. The trading update should be good or we've all been mislead; it's just a matter of how good, and whether he sp will respond positively and whether it sticks at any possible higher level for very long.
I think also, by EVE not going for the Mass market and with it a desire to be a "funky" brand means it wants to carve out for itself a niche whereby it can charge more than its rivals. For that to be successful it needs a demonstrable USP over the SIMBA/EMMA product. That is where the Sleep wellness thing comes in, but its tricky because I imagine not many mattress manufactures design these things to be uncomfortable....
makes the update ever more interesting!
Tricky position for EVE: has to sacrifice turnover because it won't discount product like its rivals but at the same time has to show growing business. Its not enough to improve profitability if turnover is not sufficient to generate overall profitability, but equally no good selling more product if not sufficient to generate overall profitability.
Clearly the demand for online mattresses has not diminished over the last 6 weeks so it will be fascination to see how EVe have done.
Regarding discounts, found this
https://www.t3.com/news/eve-mattress-discounts
The best cheap Eve mattress discount codes and deals in July 2020
'.... Eve doesn't seem worried about matching the bigger discounts offered by competitor brands (the best Emma mattress discounts and Simba mattress deals can knock 40% off, for example). But it's cut-throat market, so there's certainly scope for the price cuts this year to be a little bigger' – so sales are not as important as profitable sales is the implication.
eve sleep Reviews 5,413 • Excellent
Kayflex Pocket Plush 2000 Series Mattress: 203 reviews • Excellent
Samkk, you're catching up, keep going.
That's my pal, by the way
You get what you pay for
do you get a sloth with that?
Don't underestimate the power of a fluffy toy.
The latest which winner and less than half the price
https://www.mattressnextday.co.uk/kayflex-pocket-plush-2000-series-mattress
am i missing something - why pay £500 upwards?
Interesting to track interest in search for discount codes as a proxy for buying intention:
See Compared breakdown by subregion on Google Trends for emma discount code, eve discount code, simba discount code - United Kingdom, Past 12 months - https://trends.google.com/trends/explore/GEO_MAP/1594379400?hl=en-US&tz=-60&geo=GB&q=emma+discount+code,eve+discount+code,simba+discount+code&sni=3
Eve doing better than Simba... but not as well as Emma.