{"id":81161,"date":"2025-02-11T03:57:38","date_gmt":"2025-02-11T03:57:38","guid":{"rendered":"https:\/\/peraltafinancing.com\/analytics\/kevin-hillstrom-minethatdata-prices-leadership\/"},"modified":"2025-02-11T03:57:38","modified_gmt":"2025-02-11T03:57:38","slug":"kevin-hillstrom-minethatdata-prices-leadership","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=81161","title":{"rendered":"Kevin Hillstrom: MineThatData: Prices &#038; Leadership"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"post-body-7105000917003143970\" itemprop=\"description articleBody\">\n<p style=\"text-align: justify;\"><span style=\"font-family: arial;\"><a href=\"https:\/\/headphones.com\/products\/truthear-hexa-in-ear-headphones\" target=\"_blank\">In my world, it&#8217;s the Truthear Hexa &#8230; you&#8217;d find it for $79.99 at full price last year. In the past two weeks? It&#8217;s now $89.99 (click here)<\/a>.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: arial;\">Yeah, that&#8217;s a 12.5% price increase on this Chinese iem. It&#8217;s happening on countless iems.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: arial;\">You went through an inflationary environment back in 2022. You already know the playbook.<\/span><\/p>\n<ul>\n<li><span style=\"font-family: arial;\">When prices increase, customers cut back on units purchased.<\/span><\/li>\n<li><span style=\"font-family: arial;\">Selling fewer units &#8220;can&#8221; work with your loyal customer base.<\/span><\/li>\n<li><span style=\"font-family: arial;\">Selling fewer units seldom works when trying to acquire new customers.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: arial;\">I mean, you&#8217;ll make the math work, you&#8217;ll raise prices. And in the p&amp;l below, your marketing campaign will &#8220;work&#8221;. Demand\/Sales can equal out, profit can equal out, your ROAS will be fine.<\/span><\/p>\n<p><span style=\"font-family: arial;\">Now, look in the table below &#8230; what is the one metric that struggles to meet expectations?<\/span><\/p>\n<div>\n<div class=\"separator\" style=\"clear: both; text-align: center;\"><a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEg_x5_ohvSW2VpheEESUmT2_ttY-2TRZtG8KWT19QxLREeUHLS6WBJNSJugSEsg1T8vHgXQ7u4Wp_JztrwH_YM6L7Swlq15QHLRUysRW2vSgZ3UWhiqbzH-ipQgvcOggJSF5PI2Gchixpg3GkhEmX4Nr264QKSetLI5afmvdVsqlK-t1ZrZTIaCeg\/s1280\/mtd_20250209.jpg\" imageanchor=\"1\" style=\"margin-left: 1em; margin-right: 1em;\"><img loading=\"lazy\" decoding=\"async\" border=\"0\" data-original-height=\"720\" data-original-width=\"1280\" height=\"225\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEg_x5_ohvSW2VpheEESUmT2_ttY-2TRZtG8KWT19QxLREeUHLS6WBJNSJugSEsg1T8vHgXQ7u4Wp_JztrwH_YM6L7Swlq15QHLRUysRW2vSgZ3UWhiqbzH-ipQgvcOggJSF5PI2Gchixpg3GkhEmX4Nr264QKSetLI5afmvdVsqlK-t1ZrZTIaCeg\/w400-h225\/mtd_20250209.jpg\" width=\"400\"\/><\/a><\/div>\n<p><span style=\"font-family: arial;\"><br \/><\/span><\/div>\n<p><span style=\"font-family: arial;\">Yeah, units sold. And when it comes to new customers, units = customers. It&#8217;s a direct relationship.<\/span><\/p>\n<p><span style=\"font-family: arial;\">This happened, all across my client base, ever since 2022. When prices went up, new customers went down. Because &#8230; math. When customers went down, growth didn&#8217;t happen as easily.<\/span><\/p>\n<p><span style=\"font-family: arial;\">In other words, stop worrying about prices. You can&#8217;t do anything about &#8217;em (other than respond appropriately or give up profit).<\/span><\/p>\n<p><span style=\"font-family: arial;\">However, worry deeply about the impact on new customers. You knew this was coming. You likely had a plan for how you would respond, right? What was the plan your marketing team crafted in response? They should have communicated their plan with every single salaried employee.<\/span><\/p>\n<p><span style=\"font-family: arial;\"><b><span style=\"color: #0b5394;\">What are the Action Streams you&#8217;ve scheduled, streams that s<\/span><\/b><\/span><b style=\"font-family: arial;\"><span style=\"color: #0b5394;\">how customers merchandise that is still cost effective (especially among lapsed buyers)?<\/span><\/b><\/p>\n<p><span style=\"font-family: arial;\">Encouragement:\u00a0 You&#8217;ve been through an awful lot in the past twenty-five years. Business is hard, you are a seasoned professional who knows how to navigate challenging situations. Be a Leader! Society is sorely missing Leadership (capital &#8220;L&#8221; leaders). Nature abhors a vacuum. Fill the void, folks. It&#8217;s time to be a Leader.<\/span><\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>In my world, it&#8217;s the Truthear Hexa &#8230; you&#8217;d find it for $79.99 at full price last year. In the past two weeks? It&#8217;s now $89.99 (click here). Yeah, that&#8217;s a 12.5% price increase on this Chinese iem. It&#8217;s happening on countless iems. You went through an inflationary environment back in 2022. You already know [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":81162,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12033],"tags":[13773,13772,11655,13774,11567],"dealstore":[],"offerexpiration":[],"class_list":["post-81161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analytics","tag-hillstrom","tag-kevin","tag-leadership","tag-minethatdata","tag-prices"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Kevin Hillstrom: MineThatData: Prices &amp; Leadership - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=81161\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kevin Hillstrom: MineThatData: Prices &amp; Leadership - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"In my world, it&#8217;s the Truthear Hexa &#8230; you&#8217;d find it for $79.99 at full price last year. 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