by Matt Weik
Tai Lopez isn’t any stranger to constructing on-line companies. For a lot of, the identify could not ring a bell, however I’m keen to guess for those who Google “Tai Lopez Right here in My Storage,” you’ll know precisely who he’s.
Now, a lot of it’s possible you’ll be questioning how Tai Lopez, who began out as a social media influencer, received concerned with Bodybuilding.com. In a latest video, Tai talked about that not solely was his dad an expert bodybuilder, however he has been a fan of Bodybuilding.com for about 20 years.
Transferring on from his social media influencer standing, Tai Lopez received into actual property and cryptocurrency, that additional helped him construct his wealth. Not like most millionaires, Tai Lopez wasn’t handed a silver spoon rising up. He lived in a trailer and mainly got here from nothing. Finally, his wealth grew, permitting him to accumulate massive manufacturers at a reduced worth because of their income slipping when bodily retail places started drying up, and e-commerce began taking up.
When taking a look at his present portfolio, Tai Lopez presently owns manufacturers reminiscent of Modell’s, Dressbarn, Radio Shack, Pier 1 Imports, Stein Mart, MentorBox, Linens ‘n Issues, Ralph & Russo, Franklin Mint, and FarmersCart. Primarily what Tai did was purchase these manufacturers and assist them enhance their on-line gross sales to regulate to the adjustments in client buy behaviors.
So, how does Tai Lopez truly match into the equation with Bodybuilding.com, did he truly buy the model, and is it doable for him to avoid wasting them from their struggles?
Did Tai Lopez Truly Purchase Bodybuilding.com?
There appears to be some confusion on the market on what precisely came about between Tai Lopez and Bodybuilding.com. When the deal broke, I used to be getting texts left and proper asking what my ideas had been. I needed to go do my very own investigating to know what came about since there was some confusion.
Tai Lopez went to his social media and talked about he purchased Bodybuilding.com whereas getting back from a visit to Spain. Nevertheless, not one of the press releases that I’ve learn mentioned something about him “buying” or “buying” the model, however fairly “partnering” with Bodybuilding.com.
Whereas I don’t have all the precise particulars (I’m unsure anybody really is aware of how the deal was structured), it appears that evidently Tai Lopez could have bought a part of the model and never totally acquired them. In all of the statements I’ve learn, executives of Bodybuilding.com have talked about they’re thrilled to “companion” with Tai Lopez and his firm Retail Ecommerce Ventures (REV).
The technique of REV is to take struggling manufacturers and make the most of their identify to recreate them on-line by internet online affiliate marketing applications.
Bodybuilding.com CEO Karl Walsh mentioned, “REV’s experience in e-commerce, digital advertising and marketing, know-how, and community-building is a big value-add to our platform and can additional catalyze our development each domestically and internationally.”
That is attention-grabbing to me as I’ve labored with Bodybuilding.com for a few years as a author and on some behind-the-scenes work the place I used to be labeling contest posing pictures and such, after which once more with them once I managed their account whereas I used to be working for MET-Rx. Truthfully, at these factors, Bodybuilding.com was working like a well-oiled machine earlier than the wheels appeared to fall off after Ryan Deluca departed the corporate and offered it off.
I slowly began to see individuals I used to be working with and knew personally both leaving the corporate or being let go. These had been model and account managers, content material managers, and a part of their advertising and marketing staff. While you have a look at these jobs that had been eradicated, it’s fairly simple to see why issues went downhill pretty shortly. These facets had been their bread and butter to get visitors over to the location and herald income.
Complement manufacturers had been compelled to get new Bodybuilding.com account groups, the fee to do enterprise with Bodybuilding.com was astronomical so as to do any kind of advertising and marketing, and general, the entire really feel of the Bodybuilding.com model misplaced a few of its luster.
You then had Amazon slowly changing into a monster within the trade and promoting sports activities vitamin merchandise on their web site. Truthfully, each dialog from a model perspective when speaking with the Bodybuilding.com staff concerned Amazon and their pricing and the way they’re promoting approach under their very own web site costs. Amazon grew to become an actual risk to Bodybuilding.com, and when the luster and hype of Bodybuilding.com pale, so did its gross sales.
Can Tai Save Bodybuilding.com?
I’m pretty sure that Tai Lopez is just eager about their database. With that, he can do lots of various things. Sadly, I don’t really feel like Bodybuilding.com has the enchantment it as soon as did. With so many on-line shops promoting merchandise, manufacturers and rivals creating content material for their very own web site, and the time period “bodybuilding” being thought of very area of interest, I’m unsure the model will be saved.
Tai would wish to do a bunch of celeb collaborations by Bodybuilding.com to get extra individuals over to the web site, leverage their social media higher, and create higher content material for his or her web site and YouTube channel. If he can get BodySpace up and working to the purpose the place individuals truly use it (it has just about sucked from day one), which may be a solution to get individuals to frequent the location extra typically.
So, my ideas? I’d have a look at Tai Lopez because the underdog on this battle, and I’m at all times one to root for the underdog and by no means depend them out. Will this be a problem and an uphill battle? I believe so. However at this stage, what does Bodybuilding.com actually should lose after its revenues have been tanking? I hope Tai Lopez brings Bodybuilding.com again as much as the highest of the sport, and whereas he’s at it, he can convey me again on to put in writing for Bodybuilding.com as soon as once more (simply saying).