Happy New Year, 2020!

For the FigWiz, it truly is starting anew. If you hadn’t seen on my LinkedIn yet, I am now a Sr. Brand & Product Manager of Loot Crate, a new subsidiary of Loot Company! What do I do exactly? I’m setting the business direction and product curation of the Anime, Wizarding World (Harry Potter), Sanrio, Rick & Morty, Freight, and Sci-Fi crates. Not to mention a few of the specialty crates including the My Hero Acadamia and the Batman 80th Anniversary one-offs.

Not only is it a fresh start for me getting back into the hobby industry professionally, but also for my company which had some, shall we say, speed bumps earlier in the year. Having filed for bankruptcy in mid 2019, the company had gotten acquired by the owner of NECA toys. This is a marriage of hobby industry heavyweights that couldn’t have been better.

What’s happened so far? The infusion of money gave Loot Crate the financial leverage to play catch up on all the crates that have dropped in the last few months insuring looters will get all their crates originally ordered. It’s still taking some time due to making sure all is proper with curation and licensing. Having learned from the company’s past mistakes, its my job to make sure everyone plays by the book and strictly within budget. Looter’s first.

In addition, the funding has allowed our offices to move out from the awkwardly settled warehouse HQ in Lincoln Heights to the strategically centered pit of all business action in So Cal, downtown LA. Minutes away from the Convention Center, Staples Center, Little Tokyo and countless massage parlors, our new HQ will bring the nerdy hipness long needed in the area.

There’s a lot of data, and the Brand group is needing to read, digest, interpret, report, analyse and decide on it all. Thankfully, my time cracking away at my Bellwether portion to FigWiz came in handy as trendline study over time is going to be a big part of our daily conversation. It also helps that my system reads new, upcoming licenses about to make splash in the figure scene.

My new company has an amazing stable of talent, and although I sense I just might be able to outnerd a greater portion of them, I feel their sense of spirit firm and dedicated to putting smiles on hobby fans’ faces. I’m glad to be a part of it.

Here’s to the new year: may it be joyful, safe, fun, prosperous and full of success!

Introducing The Bellwether

I see online that many professionals share artwork, animation samples, video edits, TED talk speeches, seminar sound bite platitudes, and incredibly well thought out articles on everything from how to score big on an interview to the top ten newest pronouns to hit the workforce this week.

These are things I wish I could add to my portfolio, but alas, my real calling is none of these.  What I do is harness the powers of everything that I’ve been and fold them into an ever evolving blob of processing code that I feel has finally started to come to fruition. 

This I am calling ‘The Bellwether,’ a system built that reaches across the web to aggregate data to track and rate hobby collectible products.  Of course, the details are so much more than my single line introduction… I’m still working on that…. but while I do, let me give you a little tour of the elements used to create this data churning entity.

Mission: to collect sales data across a number of sales channels on hobby collectible figures so as to be able to have a growing history of the viability of various hobby collectible product types from a variety of manufacturers working with various licenses down to the actual character selection. 

I’m putting all these elements on point.  Having worked in the marketing field and interacted with some of the brightest veteran toy marketing managers transitioning to hobby collectibles, I found the toughest questions to answer were ‘Will this toy type sell?’ ‘Who’s the number one in this segment?’ ‘What brands are hot for this demographic?’  I knew quite a bit since I had some pretty deep empirical data, but there weren’t numbers to show for it.  It was viewed as simply my ‘gut feeling,’ which is was, and it normally lean in reasonable direction, but numbers are what moved the businesses. NPD reporting was the bible by which decisions were derived, and even they were still trying to figure out how to report on the niche hobby collectibles genre.  Very much in the same way Amazon grouped hobby collectibles in the ‘toy’ category, NPD had no way of differentiating either.  For the two years we had them over for reporting, I asked the reps if there was a timeline for this info and they were ‘working on it.’ To be fair, traditionally, growth in hobby collectibles would be insignificant in the toy business, but a player like Funko broke the mold.  Every toy manager was scrambling to replicate the same idea in the mass retail segments not understanding that the strategy Funko used was carefully grown over time from collectors to mass.  Most toy producers wanted to instantly leverage their buyer connections and tried going from mass to collectors, which resulted in complete and utter failures across the board from large chain retailers to top brand toy manufacturers.  Inventory saturation due to over production was one of the very first problems presented to me that was plaguing my new corporate employer as it had become a massive stain that took years to wipe clean.

With this in mind, I wanted a tool that could gather information on products selling out in the wild and get a read on its popularity through site rankings and sell thru. In addition, apply my dormant brain trust of hobby figure knowledge to the definition of what demographics brands really cater to, and what related brands might go well with riding on the success of others.  I see this missing in even Amazon’s site where its common to see figures from a mature rated anime title being advertised as a pre-school toy for toddlers (Magica Madoka is cute and all, but definitely not for kids). Appreciation for niche category insight of this type is difficult to earn in the mass market crowd as it takes a fan to know what a fan wants, and to know why fans want it.  Apply this know how to a computer learning system, and you’ve got a kick started analytics system that can drill down to the selling success and failure of any collectibles of any character from any series by any manufacturer.  I do believe in time, systems will begin to learn more about the license associations, but over 20 years of having been a part of every angle of niche genre categories from being a fan to owning my own store, to working in a lead managerial role in a corporate office, I feel I have a unique head start.  In short, when the data comes in, you’ll still need someone who can speak geek.

I do see other sites trying to do something similar like hobbydb which feels too broad and poppriceguide which seems way more niche than I want.  Part of my angle is to roll up products to see who the most effective manufacturers are in a particular sector.  I don’t feel that from these other guys even though I really like what they’re bringing to the table. 

For the one person that got through all the dribble above, thanks for reading. Let me know your thoughts on the system as I’m always looking to improve its features.

I pulled out all the stops on this one by smashing together every platform and coding language I’ve ever practically used in the last 10 years.  And, yes, I and I alone designed, programmed, and currently manage the entire system from back-end database grooming to Google Chrome Extension development to applying a weight to the likelihood someone will like Lobo if they’re into Wolverine.

Platforms:
WordPress
– wooCommerce
MS-SQL Server

Coding Languages:
PHP
Python
ColdFusion
– Dynamic Image Generation
JavaScript
-JQuery
MySQL
T-SQL
HTML
CSS
XML/JSON

Automation:
Python
– DataMining – (Node.js in the future)
ColdFusion

Databases:
MySQL
MS-SQL Server
– Views
-Stored Procedures

API Connections:
WooCommerce – Python
Amazon – Python/ColdFusion
Google Chrome Extension API
eBay – TBD

Brand Burnout – A stream of thought

Having been in the hobby industry of nerds for the last 20 years and a life long fanboy of all things geek before they were chic, its been an incredible ride to see all those childhood escapes come to the forefront of popularity. These were brands that at time I’m sure were to be simply a one-and-done wonder that simply followed the standard product lifecycle which eventually dribbles into obscurity, but now seen as icons and old gold. You hardly see the reruns that burned these brands into the brains of bumbling boys and girls. Its more reboots which honestly never really hold a candle to the originals for some reason.

Unsurprisingly, some of the biggest business acquisitions in recent memory in addition to tech is entertainment holdings companies for the stable of brands. I’m talking not only in the Mouse’s purchases of Fox, Lucas, and Marvel, but also of Hasbro’s pickup of Entertainment One. The thing that tipped me off on the license grab bag dash was the fact that Hasbro now owns the Death Row Records with the IP collection that is eOne. A traditional toy company really has no need for such a brand, but its valuable nonetheless.

It’s the mental real estate that they’re after. These big companies understand that that nestled deep down in the neurological nexus of the pre-internet children is a dry wood tinder that can light at the slightest flicker of a brand blaze.

And its limited.
I asked my kids, and outside of the few titles that I’ve tried very hard to get them into (someone should pay me for this), they essentially shrugged their shoulders and continue to watch whatever spoon fed content was coming in from YouTube. Brand loyalty seems to be disappearing with the newer generation. Ask kids now if there are brands that they’re loyal to and its more personalities than a carefully crafted and calculated brand. Personalities are hard to cash in on as the volatility is too extreme unlike the control of rock solid IP.

How’s anyone’s investment in Kevin Hart after ousting from the Oscars, or internet personalities PewDiePie or Logan Paul after the controversy they stirred? Most traditionally built companies would be wise to steer clear as bigger bank rolls make for bigger targets.

‘Where are we headed?’ is the riddle that keeps me excited. Will my kids grow up to look at YouTube as the next Marvel, or will it get ‘MySpace’d? I can’t think of any brands directed to kids that stay relevant as they get older as more and more strategies revolve around hyper focusing on the segmentation of KGOY. Can you think of any memorable original titles and features from 2000’s to now that can achieve the 20,25,30 year anniversaries that so many 80’s and 90’s brands are celebrating ? Its a tad depressing that we still cling to these dinosaur brands, and its sadder to think that my kids won’t have any decent original brands they can claim for their generation.

Interview Question: Prompt

This question was posed to me in a recent interview. I was given a limit of 1,500 words or less. My initial outline was only around 300 words, and with so much excess, I needed to add more flavor. I feel my response helped me land an interview, which was quite the ‘gauntlet’ as one of my friends put it. It had been a while since I had to go into essay mode, and I felt it’d be such a waste to simply sideline since the opportunity slipped by me more likely due to the interview. I was ‘too seasoned’ (aka too nerdy for the hip cats) and would get bored of the opportunity. I’m sure this was a polite way of saying I was simply to raw or rigid for their corporate rigmarole . If they truly believed I’d get bored, then they might not of realized that the business of geekdom is really my kick, and I never get bored of analyzing marketing methodology. See my response below. Maybe it’ll help one of you out some day. If you’ve got any suggestions, I’d like to hear it.

Question:
Unexpectedly, a key partner has scheduled a meeting in your office and expects a top-level presentation of marketing strategy for a game. Your manager is on vacation. What would you do, and what would you need to know to make your decision?

Answer:
Unexpected key partner visits can pose quite the challenge, but can be extremely rewarding in immediate and future opportunity. When it comes to marketing strategy, anticipation of such situations would be the greatest asset as this type of occurrence is rather commonplace in professional convention and trade events. Of course, before any other factors are to be considered, verification that a presentation in this circumstance complies with our company policy and the terms associated with the contracts of all stakeholders involved in the project. For the sake of this exercise, let’s assume the meeting is to occur in the company building and it falls in compliance with business and contract terms. As a marketing manager, having a marketing strategy at all levels is an essential responsibility, and ownership of that duty will demand a high level of understanding on the marketing direction that can be clearly communicated to the audience. The presentation of a top-level marketing strategy plan could lead to a discussion that becomes a great base for brainstorming with the partner that might lead to new business. As the visitor is a key partner, it would be in the company’s best interest to cooperate and ensure that when we present our strategy that we do so with the idea that anything less than the best rarely ends in success. To that end, though it is always a good sign to take on what might be an incredible opportunity for a strong business partnership, there are several factors that I would confirm before committing to a presentation. The key factors I find most important in this situation are authorization of materials, preparation of the presentation, and awareness of the company.

The flow of information is now more important than ever as timing plays a critical role in the momentum of promotion and business success in general. With the incredible value of licenses today, secrecy is a highly coveted asset. As this marketing strategy would be regarding a specific game, I would need to ensure that any focused information presented including license assets, schedules, budgets and all other marketing matters be authorized to share by both internal and external stakeholders. The premature reveal of any data before its authorization may present unnecessary risk of jeopardizing our relationship with licensors, distribution partners, and possibly the visiting party if something shown be met with critical complaints when still in development. Learning this lesson the hard way a few years ago, I had built a marketing plan around one of Japan’s most popular monthly release programs of competitively priced figure collections that were originally made to be redeemable through crane game arcade machines. My division was charged with creating a domestic program that could sell figures at a retail level as crane games are not as accessible in North America. Clients and partners were eager to hear more as it involved several popular licenses in the Japanese pop culture genre that had been evergreen or were quickly gaining momentum. These products were promoted to be targeting older teens to young adults who were tech savvy, socially connected, interested in animation and gaming, and appreciated collectibles. All the marketing numbers were set including offer dates, monthly wave release schedule, product copy, negotiated costs, client specific marketing strategies and promotional opportunities. Clients liked what they heard, they liked the calculations, but clients weren’t able to actually see the products or concepts of the actual product as images were not available due to licensor restrictions. This was proclaimed by clients and by our lead sales representatives as the single most critical component of the campaign. The program worked well in Japan as the distribution went to partners who had built a trust with the company in the confidence that the product quality was always going to be of high standard. For the most part, that was true, and that enabled the manufacturer the ability to offer products simply by name in advance of a public reveal forgoing the need for an image. However, when offering this same product line to a national chain store merchandiser in a different global region, success was limited. To resolve this, we had to reassess our strategy with our key product producer in Japan, and create a plan that allowed the proper release of image assets in a timely manner. This alignment laid down a path for our sales division to successfully secure big unit opportunities for future quarterly offers.

In addition to authorization, I would also consider the preparation of the game’s current marketing strategy presentation. Though we may have all the necessary permission for showing assets, should these data points not be arranged to deliver a meaningful story of business opportunity both with visual aid and key talking points, it may not impress upon the visitors the best perception of the prize. By being prepared, unexpected situations will be much more manageable for delivering maximum business impact, and it certainly is a vital element when making any type of presentation. As an example of needing to be prepared, one of my first assignments as a Brand Manager with my previous employer was to quickly communicate critical sales information to the collective sales managers from one of our key distribution partners presenting at the New York Toy Fair, Diamond Comics Distribution. I was two weeks into the assignment, the previous owner of the project left without delivering any copy, and our distribution partner team was going to try and sell our lines without the faintest clue on figure collections’ back story. Realizing this weakness, I arranged pre-event daily stand-up meetings with the managers collectively, and coached them through key sales points that had them presenting confidently and had earned back the trust of the partner who did have concerns about the absence of information. Having immersed myself in the product line details before heading out to the trade event, the preparation allowed me the time to consider the most important elements that I could quickly deliver to our partners in the sales effort. Needless to say, that edge opened many discussions with major clients that hadn’t known the details beforehand with one client that would later sign on directly as one of our biggest customers and product advocates, Hot Topic.

The last factor I would need to consider would be my awareness of the company offices. Should a key partner visit my office, they are not only seeing me, but the company itself. By the time the audience arrives on the premises and enters our lobby, the presentation has already started. Should there be any onsite events whether it is construction, a visit from another key partner, or absence of other key stakeholders of the game property, the impression may not be of our highest caliber. By not properly notifying key internal team members on the marketing project, and by being absent minded about the company environment, we may run the risk of damaging not only the business opportunity of the game, but also tarnish the perception of our company unit. I feel a marketing presentation does not simply showcase a game title and sales numbers, but also represents the efforts of the stakeholders that have worked on it including the company as a whole, and along with that comes the trust shared that if a game is to be featured in a presentation, those who need to know should be made aware.

There are several other factors that I would consider in this situation including the relevance of the title to the key partner and showroom availability, but specifically, regarding a marketing plan for a particular game, the above factors are critical. Under extremely rare circumstances, I may entertain the idea of possibly presenting a marketing plan from a previous title that had been cleared for presentation that the client may have successfully been involved with that has a similar strategy, but this is
contingent on if that type of presentation is even available as today’s marketing opportunity is constantly changing which in turn forces strategies to evolve with every title release. Depending on the strategy in place, presenting something that may be only similar may run the risk of undermining the master plan.

Should any of the above factors not be met, I would strongly move to politely approach the partner, and being honest about the situation proposition them with a later time and date where we can more fully present the strategy with the title. From my experience, honesty goes a long way in business as its part of the foundation of trust. As the visitor is a key partner, paying it forward through openness will save time on both sides and more often supports mutual respect. To present a marketing strategy plan at a moment’s notice does come with high excitement, but high risk on many levels as well if baseline requirements are not met. Once these requirements are fulfilled, we can then follow through accordingly with the highest chances of success.