INDUSTRY
Games and Entertainment
CHALLENGE
Lack of visibility into performance data plus limited funding meant wasted spend and stymied growth.
RESULTS
Doubled net sales using the Sellers Signals analytics tool coupled with Working Capital for inventory acquisition.
SOLUTION
“I did a lot of research and I loved the way that SellersFi had other components beyond the funding they could offer. These tools allowed me to see my numbers. Now I have data I can use to compare performance and show my growth. Sellers Signals makes it easy because it’s connected to the marketplace so I always know what’s going on.”
—Jon Drummond, Founder of Drummond Gaming & Tech
On a mission to create financial freedom, Jon Drummond kicked off his entrepreneurial journey by selling collectible toys on Amazon and Shopify. Drummond not only had a nose for business, he also had his finger on the pulse of what collectors wanted. In a short time, Drummond Gaming & Tech became the go-to-store for “Masters of the Universe” fans.
Given the passion of collectors, Drummond’s stores quickly hit $1M+ in sales and established Amazon customer bases in both the US and Mexico.
But continued e-commerce success is not a given. Merchants need to seek new opportunities, anticipate threats, dominate the competition, and be agile in order to scale. In short, success brings challenges. In order to grow, Drummond needed to dig deep and go big.
“I was looking to expand and scale my business. The problem is, with e-commerce, you can’t just go to a bank and show them your numbers. They don’t understand. I needed new ways to get my information and and show it to get funding for my Amazon store.”
—Jon Drummond, Founder of Drummond Gaming & Tech
With demand overtaking supply, Drummond realized that in order to meet demand and level up, he needed funding for inventory and systems. But he didn’t know exactly how much he needed and how to best use it.
Drummond wasn’t taking chances with his budding online empire. He knew that in order to use funding wisely, he needed the right amount and type of capital as shown by the data. Before he could solve his funding needs, he had to dive into his numbers and make sure they were reliable and of value.
When Drummond approached traditional banks for funding, the banks didn’t help. They didn’t understand e-commerce performance or Drummond’s vision. Not only did they not provide funding, they didn’t give Drummond any information on how to prove to them that he was already successful and worth funding.
With traditional banks not meeting his needs, Drummond began researching lenders specializing in e-commerce businesses and online brands. What he found was that many lenders offered exactly the same services and rates as banks and each other. None seemed to offer Drummond a differentiator or a competitive edge . . . until he found SellersFi.
SellersFi tailored a solution of funding and analytics. Drummond went all in on the data. With his entrepreneurial spirit, his finger on the pulse of hot trends, and powerful data and actionable insights in a single platform, Drummond found his superpowers (and got in touch with his inner data geek).
As this new world of insights and funding opened to Drummond, he acquired all of the inventory he needed, anticipated demand and was always prepared for it, and leveraged the power of data-driven insights mto maximize sales.
Using his unified SellersFi platform and easy-to-navigate dashboard, Drummond could access funding as he needed it and he had a 360-degree view of his business in terms of:
“Everything I need to know is in Sellers Signals. The information in Signals clearly showed me how my business was performing. I used Signals as a solid predictor of what was going to happen going forward. I haven’t seen a tool like this anywhere. And the integration with the flexible payment options makes everything easy.”
—Jon Drummond, Founder of Drummond Gaming & Tech
For Jon Drummond, gross sales and net sales percentage are the two most important KPIs for scaling his business.
“Every day, I’m looking at a net sales percentage of 54% or better. I’m a stickler for that. If I can average 50% net sales on all my inventory, you’re gonna see me on the Forbes list,” Drummond says smiling.
One month, Drummond logged into the SellersFi dashboard. He checked Sellers Signals and realized he had beaten this goal and reached a 60% net sales percentage. With SellersFi funding and analytics on his side, Drummond is truly a master of the e-commerce universe.
“Everything I need to know is in Sellers Signals. The information in Signals clearly showed me how my business was performing. I used Signals as a solid predictor of what was going to happen going forward. I haven’t seen a tool like this anywhere. And the integration with the flexible payment options makes everything easy.”
—Jon Drummond, Founder of Drummond Gaming & Tech
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