Latest / The SmallBizChat with Melinda Emerson / Data Driven Brand Growth with Romina Brown

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Data Driven Brand Growth with Romina Brown · The SmallBizChat with Melinda Emerson

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  My my strength is in analytics and numbers, but my background was in marketing.
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  I feel like this is a perfect intersection for my skill set.
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  I am able to now use the marketing background along with the numbers and analysis to really
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  drive insights contextual insights in a way that no other company has been able to do.
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  321
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  0 ignition, liftoff.
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  Ending small business failure.
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  Welcome to the Small Biz Chat podcast with the number one small business expert, Melinda
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  Emerson.
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  Melinda's goal is and small business failure, and she'll give you the information you need to
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  succeed and live the life you dream of.
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  Now here's your host, the small biz chat lady her self, Melinda Emerson.
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  Calling all author speakers, coaches, and consultants.
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  Join me in Philadelphia September 21st to 23rd for bringing in demand live.
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  Learn how to dominate on the national stage.
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  It's time for you to unleash your brand's power.
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  Register today.
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  Welcome back to the small biz chat podcast on Melinda Emerson, your host.
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  Hopefully, you are watching us on my small biz lady Facebook Ben page or our YouTube channel.
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  Please be sure to leave us a comment if you hear something that is worthwhile, or if
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  there's a topic that you would like us to address on small pitch chat podcast.
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  Please feel free to lead that as well.
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  We wanna make sure that we are serving you because our mission is to end small business
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  failure.
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  Now it's time to have our discussion about how to use data to boost your brand.
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  Let me introduce my next guest, miss Romina Brown.
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  She is the president of Strategic Solutions International, and she is the only female led
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  black owned category management firm on the planet.
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  At SSI, Romina is supported by a global diverse team of trained analysts, marketing, research,
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  and technology, ex consultants, with a proven track record of making tremendous impact.
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  Romina has served in various executive marketing and sales positions for well known
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  brands including Eastwick Kodak, Sarah Lee, and L'Oreal USA.
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  In 2004, she formed SSI experienced in both corporate and entrepreneurial environments
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  Umita provides context, insights, and guidance in the development of strategies for diverse
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  industries and levels of business for more information Go over to SSIconsult.com.
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  Romina, welcome to the Small Bishop podcast.
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  Thank you for having me here today.
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  I appreciate the opportunity to be here to share with you.
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  Oh, wonderful.
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  So let's just get into it.
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  Tell us, How did you get into category management?
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  How did how did you become an entrepreneur?
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  Well, I was rote into category management.
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  But I became an entrepreneur because I always knew I would.
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  It was something there inside of me that just made me a felt like the walls couldn't hold me
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  anymore.
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  The walls of corporate America.
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  But I started my career in sales, and then I moved into marketing.
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  Quickly recognizing my strength in research and numbers and logic and analytics that I was
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  moved over more to retail strategy.
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  And the business development portion of that, which is really mining the numbers, analyzing
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  the data to understand really what's going on in the business and how we can, shift the
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  numbers around, understand the numbers in in a way that will align with the growth strategies
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  for the company.
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  So I started out doing it in companies.
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  I really my major was in marketing, and I really wanted to be on the sexy side of the
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  business, the the marketing, the product development, the naming, deciding which colors,
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  the photo shoots, the commercials.
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  That's all I wanted to do, but I was better at the analytics.
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  So as I say, I was roped into it, but it has become sort of my life's work and, happy to do
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  it.
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  Now so you're basically known as a data geek in other words.
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  So what is the most important data point or that a business a brand should always know and
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  and have access to.
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  You need to know your sales.
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  You need to know your numbers and that of your competitive set.
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  So I I'd say maybe your the the the most important number is your sales, your goal.
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  You know, what are you trying to achieve?
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  What number are you reaching for?
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  And then you take that and you work back from that.
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  You you build a plan and milestones So if you're going for $10,000,000 and you're at
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  1,000,000 now, you want 10,000,000 by within the next 3 years.
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  So in year 1, you'll be here, year 2, you'll be here.
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  And then unpack what it is that you'll need to do in order to achieve those to to achieve
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  those milestones ultimately for the goal.
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  So I'd say the number one number that you need to know is your bowl, but also your where are
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  you now?
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  Mhmm.
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  Right?
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  Cause if you don't know where you are, you certainly can't get get where you're going.
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  Talk to us about category management.
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  You you mentioned that you're you're company is the only black on category management firm on
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  the planet.
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  So why don't you help the rest of us understand What is category management?
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  Well, you know, that that is true.
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  And I I think they sent
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  you that in the bio, but I don't like to leave with that.
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  That is really just a matter of fact because we are really the best category growth
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  management partner for our our
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  clients in the beauty and personal care in industry, irrespective of ownership,
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  irrespective of, you know, the fact that we are a minority owned, that happens to be a matter
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  of fact.
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  But the truth of the matter is that we have been committed to this space, committed to this
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  consumer, committed to growth in this category for the last 20 years.
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  And we are, you know, we're not new to this.
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  We are true to it, and it's not a program for us.
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  We're not checking the box.
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  It's not We're not now doing it because it's a great initiative, but we have been committed to
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  this space and making sure that this consumer is served in a way that they are heard,
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  respected, and products are delivered in a way that really is going to meet their needs.
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  So you talked about what is category management I I mentioned earlier that my my strength is in
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  analytics and numbers, but my background was in marketing.
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  I feel like this is a perfect intersection or my skill set.
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  I am able to now use the marketing background along with the, numbers and analysis to really
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  drive insights contextual insights in a way that no other company has been able to do.
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  So talk to us about an example of contextual insights because I still think we're, like,
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  8000 feet above some people.
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  So so Help me understand when you said a potential insight, what you need.
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  So I went oftentimes when when when brands or companies think about category management, they
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  think about the numbers, the analysis of the data, and that really is a rearview mirror
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  you're analyzing what already happened.
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  So it's it's tactical.
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  You have to know it.
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  You have to absolutely understand the your grand performance and what you're going to do
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  about that at retail.
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  So that's that's really managing your performance in the category.
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  So that's what happened, the tactical data side.
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  And then there's why is this happening?
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  And that really is more the contextual insight where you have that cultural fluency.
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  You under you understand the DNA of the consumer and what's driving their behavior.
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  And it oftentimes cannot be found in the data.
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  So we're combining what happened, why it happened, And what now should you do about it?
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  So that really is a full view of category management, and we like to say that it's
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  category growth management.
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  Not just category management because we consider ourselves as stewards of growth with
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  our partners.
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  So when you start getting this contextual data, is that Focus groups?
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  Is that phone calls?
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  Is that what how do you how are you getting this data?
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  Yep.
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  So we contextualize it.
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  By speaking to consumers, by speaking to the audience that they are inviting.
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  So the audience that this brand is inviting, we talk to them.
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  We run surveys monthly.
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  We conduct girlfriend groups.
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  We conduct discussion groups.
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  We have a content corner in our office where we invite influencers in and talk to them.
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  And here recently, we've launched a new division in called Boss Beauty.
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  It's our forward facing insights capture where we are at events.
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  We show up where women are gathered and we create our own events.
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  And we talk to them about, hot button issues.
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  So many things inform how consumers buy products What styles they choose to wear or
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  shade of lipstick they choose to wear.
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  And so we really want to understand that deeply.
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  So we go where they are.
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  We talk to them at social environments.
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  We have just launched what we call boss beauty curate tour, and it's a tour where We are able
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  to capture insights because our brands told us they want interactive insights.
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  We want for you to talk to our clients or or to our invited guests about things that matter to
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  us.
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  We wanna hear directly from them.
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  So we marry our survey data monthly with our insights that we capture at live events as well
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  as at our own curated events and opportunities at in our insights quarter, our contact quarter
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  in our office.
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  Love it.
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  So that really helps me understand fully what you do.
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  So what do you believe is the secret sauce to a
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  brand's success?
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  From your company's perspective.
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  Well, I'll tell you what it has been, what has proven to be, and that is authenticity and
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  performance.
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  So our space really we specialize in beauty and personal care.
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  What matters most when you're talking about beauty items is whether or not that the
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  haircare product works in the way that it is intended and whether or not the stains match
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  properly So it's really about assortment product performance.
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  That supersedes everything.
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  But also in this digital age, in the age of social media, which has really changed the
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  trajectory of beauty.
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  Brands are now able to make an authentic connection with consumers directly.
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  Mhmm.
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  And so we we believe that's really one of the number one things, performance, then linked to
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  connection to consumer and what matters to them.
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  You've had this whole conversation around ownership and black ownership and black owned
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  brands, they represent a small pursuit of categories but they really are driving growth
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  in many categories, and we understand from consumers what matters most is whether it works
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  or not, And then what also matters is that you are aligned with causes that are important to
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  the community.
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  So those are the things that we think are important to brand performance as well as
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  authenticity and connection with the consumer on things that matter to them.
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  Well, I wanna I wanna change the script on you just a little bit.
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  Can we talk about how you can use data really to look at your competitive analysis, Trevor.
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  And sometimes we're always about our sales, our growth, our goals, But, like, how can you
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  really leverage data, to check out your competitors?
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  Well, it's absolutely critical that you do that, and that really is the essence
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  in the heart of category management, understanding how you're performing your own
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  brand versus yourself, but also your share versus the competition.
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  And the retail landscape has shifted so dramatically.
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  We understand that online people are are leaning more into that for purchases across all
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  categories.
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  But also now post pandemic, people are starting to browse more in retail.
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  So it is it the war is won at the show, but it is imperative upon brand owners to understand
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  how they're performing, not only versus their own performance, but versus their competitive
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  set.
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  It is paramount.
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  That brands outline what brands and products are in their type competitive set and that they
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  monitor the sales and moves of those brands on a consistent basis.
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  Sometimes weekly, we know you can't act on weekly, but on that tight set, you really want
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  to be watching what those brands are doing.
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  And you can align what those competitive brands are based on attributes, based on pricing,
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  based on their distribution model, where they are currently sold, or where they are intended
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  to be for sale.
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  So it is absolutely critical that brands know was their competition and who's coming up
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  behind them.
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  EVA brands that you might not exhibit your competition yet.
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  Good stuff.
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  Good stuff.
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  When we come back, We're gonna have more with Romina Brown about what you need to be knowing
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  about your data to grow your business.
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  Are you ready to become a boss?
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  Hi.
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  I'm Melinda and small biz lady.
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  Click the button below and take my free boss quiz.
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  This assessment will help you learn your entrepreneur type and find the right biz this
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  model for you.
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  Get this information about the number one asset in your business.
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  Yeah.
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  That's you.
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  Welcome back to the small business chat podcast.
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  I'm Melinda Emerson's small business lady, and we are talking about using data to grow your
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  business and your brand with Romina Brown Rameena, talk to me about how can we analyze
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  our web analytics to optimize our online brand presence and user experience.
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  We know that so much of what consumers are doing now is online centric is the the
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  omnichannel experience of them being able to purchase products online, and whether they are
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  actually purchased online or not, they are absolutely absolutely a critical part of the
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  purchase cycle.
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  So we know that consumers are searching for products on to online.
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  They're going to look at reviews for products online.
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  So as you're as you're understanding, the dynamic and the importance and relevance of the
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  online channel, you can now begin to look behind the scenes at your dashboards at your
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  analytics to see who's actually in tune with your brand.
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  Well, you can find out who your loyal consumers are just by looking at your followers you can
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  look at the engagement and understand what's up, what's down, what types of posts are they
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  responding most often to in what really actually drives sales on your ecommerce because
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  many of these brands are now also D2C direct to consumer.
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  So you can check behind the scenes and look at analytics to see who is actually buying your
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  brands, who's dropped out of your brands.
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  You can look at the demographics of those consumer groups you could actually even pull
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  them on your social media accounts.
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  We know that those algorithms control what consumers see.
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  We know that if you even think about doughnuts, you're gonna see an ad for until that's and the
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  fact that those consumers are at your fingertip, you could absolutely begin to to
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  measure the movement based on who is moving in and out of your brand.
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  So that's how you use the analytics.
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  And once you know who that is, Then you speak clear language, you invite them, and then you
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  expand the reach to that same target, to that same group of consumers.
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  Alright, Romina.
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  Tell me, what is the best business advice you have ever been given?
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  Oh, we the best business advice.
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  I I'm like a sponge when
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  it comes to taking notes and listening.
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  I'm I'm gotten a quite a few personal notes about being more bold, about allowing me to be
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  more bold to cough it in business, but I'll say the best business advice I've gotten is about
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  investing in your business.
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  And You know, we have reached a point where it's now critical for us to scale the business.
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  And in order to do that, oftentimes, you need to invest.
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  And when you are investing, sometimes that's in front of the revenue.
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  So you have to invest before you make the money when you're used to a certain cash flow, used
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  to a certain, you know, balance sheet looking a certain way.
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  So I think the best advice I got, and it's You know, it's I think it goes anyway, but it's
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  scared money doesn't make any money.
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  You have to develop the plan and work it.
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  And I think that's the best when you you become comfortable.
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  It's time to scale.
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  You've just gotta go for it and and trust your experience and knowledge that it's going to
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  work.
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  I love that.
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  Scared money.
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  Don't make no money.
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  I think that was on point on point.
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  Well, thank you so much for being here.
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  And talking with us because I think you've given us valuable insight.
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  I think a lot of times on my podcast, I tend to talk about service businesses, So I'm really
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  glad that we've had the opportunity to talk about what some of the retail folks is
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  particularly beauty, hair, and beauty folks because I know that a lot of women start
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  businesses in that cater story.
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  So I'm really glad that you gave us that valuable insight.
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  And when we come back, we are gonna be talking with an expert who's gonna help all of us bring
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  a sales team into your organization.
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  I'm Melinda Emerson Small Bus lady.
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  America's number one small business expert, and I will leave you with this last thought.
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  You never lose in business.
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  Either you win or you aren't.
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  God bless everybody.
• 17:41
  Calling all authors, speakers, coaches, and consultant.
• 17:44
  Join me in Philadelphia, September 21st to 23rd, But bringing in demand live, learn how to
• 17:50
  dominate on the national stage.
• 17:52
  It's time for you to unleash your brand's power.
• 17:55
  Register today.
• 18:03
  Thanks for listening to the small biz chat podcast with Melinda Emerson.
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  Subscribe to this podcast, wherever you listen to podcasts, and join us next Wednesday for
• 18:13
  more fantastic information and interviews.
• 18:16
  You can find more sources and small business success strategies by visiting Melinda's
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  website succeed as your own boss.com.
• 18:24
  Thanks again for listening, and we'll see you next week.