A write up from Tambra’s notes (forgive the photography…)
The FAM‘s annual Sleep Summit may be over, but the community and connections are stronger than ever!
The FAM co-host Tara Kinsley set the tone in her opening welcome with a simple reminder: “Your net worth is your network.”
And I have to say, my net worth definitely increased! There’s nothing quite like reconnecting with old friends, making new ones and sharing ideas with people who care as much about this industry as we do.
The FAM CEO and Founder Mark Kinsley built on that sentiment, encouraging attendees to borrow, remix and repurpose ideas from Sleep Summit for their own businesses. He shared The FAM research showing that consumers looking for a good night’s sleep rank the mattress surprisingly far down their list of potential solutions. He also pointed to a “bifurcated economy,” where consumers at different income levels are experiencing the marketplace very differently. His message? Regardless of the customer’s circumstances, “Will it help me sleep better?” should be the fulcrum of the conversation. What’s in the mattress isn’t necessarily the answer. How it makes them feel is the IT factor.
The Speakers
Blue Bell Mattress CEO Derek Ritzel followed with “The Real Cost of ‘Free’ Traffic: Protecting Retail’s Role in a Hybrid Mattress Market.”
What stuck with me was Derek’s “free cheese” metaphor. Established brands and direct-to-consumer companies can drive traffic through retail doors, but retailers need to understand the strings that may come attached.
Another note I scribbled down: “Think like a dolphin.” Dolphins work together and, as a group, can take on a shark. Maybe retailers can do more of that, too. Collaborate as well as compete!
CEO Brand Advisor Warren Kornblum reminded us of the power of store brand awareness. Remember Toys “R” Us? The company toppled, but Geoffrey the Giraffe remained beloved by consumers — valuable brand recognition that helped bring him back! Warren also talked about “share of heart.” How do customers feel in your store, about your RSAs and throughout the sales process? Customers want to believe you, so keep your promises!
CEO Matt Hess inspired the group with UHP — Unlock Human Potential — a program he founded to help veterans re-enter the job market. UHP also stands for The University of Health & Performance. It is an amazing program – contact Matt via LinkedIn or reach out to The FAM. They’ll give you the 411!
Sleeptronic’s Anthony Klatt walked us through success on the retail floor with independent mattress brands. When considering exclusive supply arrangements with legacy brands, Anthony advised retailers to figure out “the cost of the cheese.” Know your obligations before building your floor around them.
He shared examples of successful retailers carrying a variety of brands, using the word “rebels” more than a few times! His point? Consumers are often looking for where to buy a mattress, not necessarily a particular brand. Plenty to think about!
Dr. Tara Youngblood, CSO at Gelisleep, has been working with AI for years (she’s an engineer, for heck’s sake!), and her knowledge and enthusiasm were contagious.
Her advice? Build an AI agent the way you would hire an employee. Train it, explain the job, establish guardrails and teach it how you want things done. AI is software, and what WE put into it determines what we get out.
There’s an art to making AI work for us, and Tara is an absolute artist!
Big Mattress Outlet CEO Kelley Charles shared what she and her team did when “price” stopped being the customer draw it once was. Important, right?
Rather than getting stuck in uncertainty, Kelley got busy figuring out what customers really needed and what her stores could deliver better than the competition. Her encouragement? See challenges as opportunities to rethink and rework something.FITO — Figure IT Out! And then DO it!
Nora Gomez, CEO at Next Generation Growth, challenged us to rethink leadership. What if the leader is actually the bottleneck? Her message was to build strong teams, trust them and empower rather than control. Success is less about the person at the top and more about the people working together.
Performance marketing specialist Kristjana “Kris” Hillberg took us into the complicated world of affiliate marketing and its frustrating “pay-to-play” landscape. She encouraged us to consider what consumers go through when searching for a mattress and how we can create meaningful human connections in an increasingly digital world.
EQ over IQ, she reminded us. And play your own game to win!
Maurice “Moe” Edwards, EVP Omnichannel Development at Katapult, picked up on that EQ theme, reminding us that affordability is an important part of the customer journey. He showed how Katapult can turn a lender NO into a YES and encouraged retailers to introduce financing at the beginning of the shopping experience, not the end. Take judgment out of the equation and give customers confidence!
Brent Batterman joined Moe to reinforce the importance of those first two minutes with a customer. His advice? “When they walk in, give them money — lead with financing!” Build trust in you and confidence in them. Nice!
Bedgear’s Nicole Coschignano and Brandy McClain-Wolfe showed us why attachment sales matter. Their message was to sell the entire sleep package, not just the mattress, and they outlined a strategy for training RSAs to make those additional sales. Good work!
Mark Kinsley sat down with Sleep EZ USA Owner (and SSA member) Larry Wolfe for a Sleep Summit version of a fireside chat. Larry shared stories from his journey through the sleep industry, and my takeaway was his fearless “ready-fire-aim” approach to business. Dive in, get moving and figure things out as you go!
It certainly worked for Larry.
Founder and CMO of Elevate Marketing Research, Nicole Bergen came armed with extensive shopper research and plenty of insights to share.
Among the gems: 68% of shoppers are replacing a worn-out bed, and NOBODY WAITS FOR A BED! Her message to retailers? Make sure customers know they’re getting great value, excellent service and support that doesn’t end when they walk out the door. Good to remember!
The FAM Impact Awards
As quoted from their website, the inaugural FAM Awards recognize the retailers, teams, and trusted partners creating meaningful impact across the mattress and sleep industry. I found this a heartwarming break in the day, and I am happy to report that 2 SSA MEMBER COMPANIES won awards. Catalyst Impact Award winners Todd and Tara Youngblood at Geli Sleep and the Family Business of the Year winners the Sunderji family at Sleeptronic! CONGRATS!
And Then There’s the FUN Factor!
Sleep Summit kicked off with a fabulous opening reception that just happened to fall on my birthday! The FAM team made quite a fuss over me — complete with a “Birthday Girl” tiara and a roomful of industry friends singing Happy Birthday. What a way to celebrate! And they certainly know how to close out a conference! A fun karaoke hour led into a fabulous ’70s-themed dance party. Everyone got into the spirit with their ’70s attire, the band was excellent, and we had a ball!
That’s what makes Sleep Summit different. The FAM understands that building relationships is as important as building businesses. They work hard to bring the fun factor into a business conference, and they do an admirable job of blending the two.
We came for the ideas, the insights and the opportunities to learn. But we also came for each other.
And that brings me right back to Tara Kinsley’s opening words: “Your net worth is your network.”
I’d say we all left a little richer!
