It is common for businesses to run the extra mile for marketing campaigns and attractive discounts. However, we will soon learn from this story that these actions need comprehensive and strategic planning before execution.
In the beginning, Bonobos focused on selling the best quality pants; the company was committed to helping its customers find perfectly-fitted jeans.
However, in an attempt to instantly grow the online apparel, Andy and Brian received a challenge they were definitely not ready for. Bonobos offered up to 60% discount and got involved in numerous newsletters. And while the sight gained overwhelming traffic, this led to it crashing and customers complaining.
But once they sorted out this major issue by improving their web hosting and increasing their supplies, they learned that intense promotions call for intense preparation. In the end, Bonobos was able to earn over $100,000 in revenue in its first year of operation.
Since then, Andy Dunn and Brian Splay expanded their business to offering men's suits, polos, shorts, and more.