JLab Audio is on a mission to provide high-performing audio products at affordable prices. Think $49 wireless earbuds and $20 headphones. CEO Win Cramer is frank about how they keep prices down. “We are okay with making less money from a product sales perspective. We make up for that margin with a really hungry and lean team.”
“Lean” means 50 people running a company that sells a product almost every two seconds at such stores as Walmart, Target, Best Buy, Amazon, and smaller retailers. The team is exceptionally talented, hard-working, and innovative, Cramer says. They are also determined to put their customer above all else. This mindset is evidenced by JLab’s prices, continuous product development cycle, and huge product portfolio, designed to give customers choice, with an emphasis on fit, features, and fashion, as well as performance.
Same Name, Better Product
While they were struggling to find their path just five years ago, JLab Audio has been named to Fast Company‘s 2020 “Most Innovative Companies” list. Cramer explains they were aligned with a group of companies that didn’t have their best interest at heart. In 2015, they severed ties. Then, they defined their brand, mission, mindset, and process. Cramer calls it their rebirth.
Since then, sales have increased by almost 1,000 percent, to just under 50,000 units sold daily. Cramer sees the chance to delight many customers by doing things the JLab way.
Most consumer technology companies release a product, sell it for two or three seasons, then roll out the next version. JLab improves products even after launch, adding features and improving specs as part of a never-ending iterative development cycle. Cramer likens it to Tesla’s approach. In 12 months, the same Tesla model will be different than today’s, because Tesla has been working to improve it. Likewise, today’s Epic Air Sport True Wireless Earbuds is better than the pair you bought six months ago.
“You don’t even tell customers you are doing—you just do it,” explains Cramer. “You give them more, and you roll it into the product line.”
Sometimes, an idea or new technology warrants more than a product improvement—it is grounds for new invention. Because JLab is a small company with no red tape, it can bring new products to fruition fast. It is also quick to implement trends in fashion and fit. Headphones and earbuds are a form of self-expression, and, since people wear them so of ten, performance is almost secondary to comfort, he explains. JLab gives customers a breadth of options so they can find their ideal fit and style. This sets the company apart from other consumer audio brands.
This spring, JLab will further differentiate itself by expanding into new markets. Cramer believes they have an opportunity to accessorize gaming in the mobility space and to lower the barrier to entry for podcasting by unveiling a line of affordable podcasting accessories. With a tireless team, constant iteration, and customer best interest forever in their purview, JLab is ready to take its “awesome product, awesome price” mindset to new ground.