The True Cost of Managing Faire In-House Versus Hiring a Faire Consultant
Are you looking to grow your business by selling your products on Faire? You've made a smart move because Faire helps you get in front of more retailers, which in turn increases your consumer reach and boosts your revenue. But to truly succeed on Faire, you need to decide whether to manage your Faire account in-house or hire a specialized Faire consultant. Let's dive into the true cost of each approach and why hiring a Faire consultant might be the best decision for your business.
Why You Need to Manage Your Faire Store
Selling on Faire is all about growth. You want to get your products into more stores and make more money. However, if you only put half the effort into managing your Faire account, you’ll get half the results. Having someone on your team who truly understands Faire—someone whose primary role is dedicated to this platform—is crucial for achieving your sales goals.
The Struggles of Managing Faire In-House
Consider a CPG brand I recently spoke with. They were selling about $300,000 per year on Faire but aimed to hit $600,000. They didn’t have a dedicated Faire team member; instead, two team members with other roles were managing Faire sales. They wanted to grow the brand's Faire sales but couldn't give it the necessary attention. For example, they weren’t following up with retailers, a simple yet crucial task that doesn’t even require much work because it can be easily automated in Faire. They lacked a deep understanding of Faire and wholesale, which hindered the brand’s sales and their success.
Another example is a CEO of a CPG brand who told me he has an Amazon vendor but needs the equivalent for Faire. He wanted more consistent revenue without having to learn yet another platform. This illustrates the importance of having someone who knows Faire inside and out.
The Hidden Costs of Managing Faire In-House
Managing Faire in-house may seem cost-effective, but it often prevents you from making more money. Here’s why:
Divided Focus: Team members have other responsibilities and can’t dedicate enough time to learn and manage Faire effectively. For instance, a marketing manager or social media manager handling Faire alongside their primary duties will never be able to give Faire the full attention it needs.
Lack of Expertise: Without a wholesale expert, your team might miss out on essential strategies and tactics. They don’t know what they don’t know. The marketing team I mentioned earlier wasn’t even doing basic things like following up with existing retailers, simply because they didn't understand the importance of these actions in a wholesale context and they didn’t know it can be automated in Faire.
Missed Opportunities: Simple tasks like retailer follow-ups are often neglected, leading to lost sales and growth opportunities. This is a common issue when the person managing Faire isn't focused solely on it.
Inefficiency: Managing Faire in-house can lead to inefficiencies, where the person handling Faire isn't performing optimally in their primary role either.
The Benefits of Hiring a Faire Consultant
Hiring a Faire consultant can transform your business. A Faire consultant brings specialized expertise and can:
Optimize Your Store: Ensure your Faire store is set up correctly from both a strategic and technical perspective. This includes everything from key messaging and SEO to creating engaging graphics.
Increase Sales: By focusing on retailer-focused SEO, messaging, and graphics, a Faire Consultant can help you show up in search results, attract clicks, and convert to sales. For instance, using my Faire 360 Optimization Method, I help brands show up in searches, get clicks, and convert these clicks into sales.
Provide Expertise: With in-depth knowledge of Faire and wholesale, a Faire Consultant can identify and fix what's not working, leading to increased revenue. They understand the nuances of the platform and the needs of retailers, which is crucial for success.
Save Time and Resources: Allow your team to focus on their primary roles while the Faire Consultant handles Faire, leading to overall better performance and efficiency. Your team members can excel in their main duties without the distraction of managing Faire.
Ideal Scenario for Growing Your Sales on Faire
Imagine hiring a Faire Wholesale Consultant for your initial setup. They conduct a deep dive into your business and optimize your entire Faire store—front end and back end. They can also provide quarterly refreshes or train your team on maintaining and refreshing the shop. This way, you can sit back and watch sales grow, get into more stores, and reach more consumers.
In this ideal scenario, you would see a significant improvement in your Faire performance - AKA you make more sales! The Faire Consultant would ensure your store is set up to attract and convert retailers, leading to a steady increase in orders and revenue. The consultant’s expertise would also mean fewer mistakes and a more streamlined process, saving you time and money in the long run.
The Faire 360 Optimization Method
I developed the Faire 360 Optimization Method to address these challenges. You’re dealing with a different audience on Faire - retailers. And retailers need to know different things to make a decision about whether or not they want to carry your brand. Show them why they should choose you and watch those sales roll in. Here’s how it works:
Unique Retailer-Focused Angle: Identify what sets your brand apart and how it appeals to retailers. This involves understanding your unique retailer-focused angle and communicating it effectively.
SEO-Rich Messaging Matrix: Define your messaging to ensure it’s optimized for Faire’s search algorithms. This includes using the right keywords and crafting compelling product descriptions that speak to retailers, and help you show up in search, too!
Attention-Grabbing Graphics: Create visuals that not only attract attention but also educate retailers and work to convert them to customers. This involves using high-quality images and graphics that showcase your products in the best light from a retailer’s perspective. Hint: stop using product photos and lifestyle images from your website.
The Shortcomings of Other Consultants
Some consultants might think they can help you, so they offer to reach out to more retailers for you or suggest adding lifestyle images to your listings. While some of these tactics can be part of a larger strategy, they often miss the mark if your store isn’t optimized to convert in the first place (plus lifestyle images are not what retailers need to see to say “yes!” to carrying your products.) You’ll spend money on outreach without seeing a return on investment if your Faire store isn’t set up to attract and convert retailers.
Conclusion
Managing Faire in-house might seem like a cost-saving strategy, but it often leads to missed opportunities and inefficiencies. Hiring a Faire Consultant ensures your Faire store is optimized for success, leading to increased sales and growth. If you're ready to take your Faire presence to the next level, book a Fit Call with me to see if we're a good fit.
