Positive ROI. Data-driven tests. Unique strategy for every project. Transparent pricing. Focus on ecommerce. Full-stack marketing. Solutions instead of services.
If it doesn't scale it doesn't work.
Conversions or it didn't happen.
Get in touch and after we figure out your objectives, we will propose a marketin mix. If you are looking for a particular competence - check out marketing kit below.
dream about taking up fashion ecommerce so if you have one in mind tell us
I like thinking about marketing in terms of acquisition channels (i.e. getting new customers) and distribution channels (i.e. communicating with your existing or wanna-be customers).
Thus the effort to build it is an ongoing process. I like the metaphor of tuning piano here - you act, listen for the result, evaluate and make the next step.
The end result should be a living ecosystem comprised of tuned acquisition and distribution channels mix.
1 Transparent budgeting & deliverables Budgeting is agreed and explained beforehand. Key metrics defined with you.
2Boutique agency approach Hand picked projects. Good vibes. Enough time to truly hear our clients.
3Solutions instead of services You don't need online store per se, you need sales
- 10 most prevalent fallacies at the start of a new business
- Mistake 1. Creation first, marketing later
- Mistake 2. Positioning: “nice-to-have” product
- Mistake 3. Сonsumer feedback deficiency
- Mistake 4. Scoring points with investors, rather than consumers
- Mistake 5. You think you have no competition
- Mistake 6. “We have a great idea. It’s viral just by itself!”.
- Mistake 7. You think growth hacking is all you need.
- Mistake 8. “Marketing requires huge budget, so we’ll think of it, when we attract investors”
- Mistake 9. “We are going to explode the market!”
- Mistake 10. Burning money instead of investing
10 most prevalent fallacies at the start of a new business
A MARKETER, AN INVESTOR AND A PHD, DONATAS JONIKAS UNDERTOOK A GLOBAL STUDY, RESEARCHING 1500 STARTUPS AND THOROUGHLY INTERVIEWING SEVERAL HUNDREDS OF THEIR FOUNDERS TO SORT OUT THE MOST COMMON MISTAKES ALONG WITH SUCCESSFUL TECHNIQUES AND APPROACHES TO MARKETING STRATEGY.
LATER JONIKAS WROTE A BOOK ON THE RESEARCH — “STARTUP EVOLUTION CURVE”, WHICH BECAME SORT OF A STEP-BY-STEP MANUAL TO STARTING A VIABLE BUSINESS.
BELOW IS GRIN TECH’S SUMMARY OF 10 MOST PREVALENT MARKETING FALLACIES DESCRIBED BY D. JONIKAS.
Mistake 1. Creation first, marketing later
It is one of the most common and costly errors. With an approach like that, chances are good you will create a product nobody needs. The last thing you want to do is waste all your effort and precious funds on a product with no demand. A lot of tech startups consider the creation of an innovative product to be the most important part of the deal, but it is the mindset of 1960s. It probably made sense back then, but these days in the 21st century, not many businesses fit into that concept, especially startups. The most important goal is for market to accept your product.
Mistake 2. Positioning: “nice-to-have” product
Your product has to have exceptional value to it. If your product solves problems you think consumers have and not those they actually have, you’re just creating another thing that is “kinda” good to have. Solve problems consumers actually have. That creates great value for them and the higher the value, the higher your profit margin can be, since it makes consumers more willing to pay for such products.
You can’t sell what consumers don’t consider to be important.
Mistake 3. Сonsumer feedback deficiency
Over 40% of startups that aspire to bring new solutions to the world either don’t perform market tests, or do it improperly.
Saying and buying are different things. Receiving a promise to buy your product is not a feedback. Real feedback comes with the money consumers pay. It is important what they do with your product and not what they say. Market testing is impossible without your clients actually paying for your product.
Mistake 4. Scoring points with investors, rather than consumers
Once you’re well received by your clients, the rest will follow: media coverage, investors and sales. Too often startups concentrate mainly on attracting attention of investors. They focus on pitching their idea and putting on a show — sadly, some investors approve and even take liking to it.
Yes, investors are important, but aim for consumers instead — make sure you product has value.
Mistake 5. You think you have no competition
The global research indicated zero startups without competition.
Those of you who are familiar to marketing know that there are direct and indirect competitors. In case your startup works on an innovative product you won’t have direct competitors until someone copies you. On the other hand, if your startup works on solving existing problem, chances are good there already are existing methods to solve it. The later are your indirect competitors. Even a client’s decision to ignore your product is an indirect competitor. Interviews of founders of startups showed they conduct a very shallow competition analysis. The author recommends asking yourself questions and finding out who you compete with instead of nurturing the illusion of competition-free market.
Really? In reality, that’s just called “hope marketing” and it means you mostly do nothing, but hope for the best. Years ago, Eric Ries, the author of ‘The Lean Startup’ already outlined three of the fundamental growth mechanisms. The sooner you apply one of them, the better. You should take action and be careful with hopes.
Mistake 7. You think growth hacking is all you need.
About 66% of interviewed startup owners stated they wish to benefit from growth hacking — a strategy, in which every decision is exclusively growth-oriented. At the same time, only half of those startups made sure their product meets market needs. You need a foundation for growth. Make sure your product has value, work on cross- and upsell strategies.
Mistake 8. “Marketing requires huge budget, so we’ll think of it, when we attract investors”
Not all marketing tools require lots of money. The author recommends taking some time to read a couple of books on “rogue marketing”. The research showed that out of 47,9% of startups already present on the market only 17,4% had consistent marketing plan and only 39,4% developed their own brand and product positioning.
Positioning and marketing plans require effort, not money! And remember that every investor wants to see traction. Investors need proof that your business model is viable and durable, and you cannot prove it without marketing. It’s fine if you don’t want to spend large sums of money on marketing on early stages, but you can develop marketing plans and even commence marketing experiments to find out if your product meets market needs, to gather required data, choose suitable growth mechanism and test your distribution channels. Later you can prepare a complex marketing plan factoring in potential profit and start looking for investors to make it work.
Mistake 9. “We are going to explode the market!”
As Jonikas notices it’s not working anymore. Big launch strategy may work well for traditional business, but startups better avoid it. It usually leads only to excessive expenses and lack of sales. Startups are innovative and they need to perform a reality check on their product value: if it satisfies market needs, if first clients purchase the product, if there are tech evangelists among those people. Startups should test their distribution channels and choose the right growth engine. Don’t forget: feedback first.
Mistake 10. Burning money instead of investing
Sounds like madness, right? Unfortunately, a great many of startups fall victim to this.
They spend funds provided by investors on things which add no value to neither a product, nor their business. Startup founder gains nothing by paying himself high salary, renting comfortable modern office space or participating in major events. Yes, there are personal gains but it is at best. In reality, it just burns the funds your investor gave you and provides no real benefits for your startup. The faster you burn money, the less time you have left to make your startup into profitable business. Learn to distinguish between the money your startup receives and the money it actually earns. Stop wasting money and invest in what is profitable and benefits your business.
Loved the list?
- WHO GETS WHAT — AND WHY BY A. E. ROTH
- CROSSING THE CHASM BY G. MOORE
- BE OBSESSED OR BE AVERAGE BY G. CARDONE
- THE E-MYTH ENTERPRISE BY M. E. GERBER
- THE SUBTLE ART OF NOT GIVING F*CK BY MARK MANSON
- CREATIVITY INC. BY ED CATMULL
- ZERO TO ONE BY PETER THIEL
- NEVER EAT ALONE BY KEITH FERRAZZI
- GOOD TO GREATE BY JIM COLLINS
- The Lean Startup by E. Ries