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A. P. Donnelson, North Jersey trade reporter: When did your relationship with SolidTies begin?
Victor K. Lee, Marketing Director, SolidTies.com: July, 2019.
APD: What interested you in SolidTies.com?
VKL: I was attracted to their growth story. But what moved me was the character of their family-run business. They have dedicated their lives in making this company what it is today.
APD: Care to share a career highlight that is relevant with what you're doing now?
VKL; (Leans forward) At Citibank, while owning their e-commerce reward sites with over 40K+ SKUs, I helped nurture a printing products partner unit. That business went from $600K in sales to over $10 million inside of a few years.
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APD: What was your secret there, and how would you apply it to where you are now?
VKL: Being able to quickly identify their highest margin products, but which also proved to have good demand, and is very buzz-worthy via social media. Nurturing channels like Facebook really helped. Work hard at diversifying your marketing channels. Don't be a one-trick pony.
APD: I'd like to hear more, please.
VKL: (Sits back in thought) Then, we simply kept throwing working capital back into digital marketing initiatives that supported those kinds of products. (Animating his hands in the air) We threw out the bad performing products into the biggest commercial dumpsters I've ever seen.
APD: What do you recommend growing companies spend on digital marketing as a percentage of sales?
VKL: 10 to 30%. But it depends on many things.
APD: Any more advice for growing companies?
VKL: The sooner you cut losses with your loser products, the sooner you can begin to heal and make money. Don't be a Captain Ahab and take your crew down with your ship just because your warehouse is full of loser products. Think objectively and act fast like a life saving doctor.
For more information, please visit https://SolidTies.com.
Victor K. Lee
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