When Michael Maibach looks back on what he expected to be doing at this point in his life, music is what comes to mind. More specifically, playing in his band. Instead, he's leading Lab Society, a pioneering B2B supplier that's rocking the world of laboratory suppliers with an approach to high-quality products and excellent customer service that stands out from the crowd.
Michael Maibach's pet peeve is when businesses take advantage of their customers. So it should come as no surprise that one way Lab Society stands out, besides meeting an untapped need in the B2B eCommerce market, is providing quality assurance and extensive guidelines for using their products. They take customer service above and beyond, a quality that is too often lacking in the B2B world.
We caught up with Michael Maibach, CEO/Founder of Lab Society, to learn how he found the hole that his company now fills, how they maintain their high reputation, and how he's overcoming challenges in the industry.
What first inspired you to enter the B2B industry and launch your business?
To be honest, I didn’t know that I was going to work in this industry. At first, I wanted to do something more consumer-focused. My initial idea was to create and develop products that were designed to help the masses
Like many founder stories, the idea of my actual business began when I had a bad experience buying lab equipment. I couldn’t get any answers to my questions, and those two things drove me to create the solution myself.
What are the
main metrics you look to improve month over month?
I think that when paired with
What separates you the most from your competitors?
I think that what separates us is our customer service and our attention to detail. Even if we can’t make a customer happy, we still try to. We make every last ditch effort to make sure all of our customers are satisfied.
We also try not to release things that are faulty. If we put our logo on it, then that product has been extensively tested, and it
What tactics have you used (online and offline) to help with customer retention?
We strive to provide excellent customer service, comprehensive training classes, education and on-site consultations. We show our customers the correct/safe way to use our products, rather than let them learn off of YouTube videos or old, black-market forums. We’ve got high-end product formulation with keen attention to knowledge.
What are some of the most significant issues you've faced and the
largest hurdles you have had to overcome?
Space - we're running out of it! That and trying to plan for where the company will be in the future. It's hard to guess because we’ve seen such explosive growth. With our team, it’s also hard to find the right jobs for the right people. I try to make sure that everyone contributes to the best of their ability, and figuring that out is quite a challenge.
In general, we’ve had to overcome business organization challenges, communication between the different teams, and coordination between shipping and sales. Getting those systems in place with limited time and personnel is something we’re always working on.
Have you used automation in your business? How have you chosen to implement it?
Absolutely. We’ve used various POS systems and inventory and sales systems, and our purchasing
How do you feel your business is disrupting Traditional B2B practices?
I would say it’s
What do you think is the
biggest contributor to your success?
Foresight! Timing, the team itself, instilling good team values, and not working with the wrong people are all critical components. That and just blood, sweat, and tears.
If you've already launched your B2B eCommerce idea, it may be too late to find another untapped market. But there are plenty of other things to learn from Lab Society's success. Customer service is an
We believe that when it comes to competing in today’s manufacturing markets: “time is of the essence.”
What’s more, timely production is essential for a company to achieve positive growth in the marketplace. That’s why at Lab Society, we are constantly striving to manufacture and source the highest quality and most affordable scientific equipment on the market. We’ve done all of the hard work for you, so you can shop with confidence.