Australian growth marketing agency Ammo helps startups calibrate their efforts

When you are the founder of a young startup, it is always very hard to gauge the right amount of effort to dedicate to marketing. Botch it and you risk looking unprofessional. Hire a traditional agency and you might be wasting time and money.

Australian growth marketing agency Ammo, in contrast, wants to make sure that its clients aren’t overinvesting nor underinvesting. Geared toward tech startups, it boasts that it has “supercharged the growth of over 200 innovative businesses,” from fintech and SaaS to hardware.

Ammo is based in Perth and an active member of Western Australia’s startup community, where it is “very highly regarded,” in the words of the survey respondent who recommended it to TechCrunch. But if that person decided to work with Ammo, they said it’s because “their results spoke.” (If you have growth marketing agencies or freelancers to recommend, please fill out our survey!)

After reading this, we reached out to Ammo’s director Cam Sinclair for insights on early-stage brand development, marketing readiness and more. Check out our interview below:

Editor’s note: The interview below has been edited for length and clarity.

Can you give us an overview of Ammo?

Cam Sinclair: Ammo is a growth marketing team based in Perth, Western Australia. We work with startups and innovative businesses to help them set and reach their growth goals.

Cam Sinclair

Cam Sinclair. Image Credits: Aline Kuba(opens in a new window)

We’ve been in this community for seven years now, and have a small, lean team from a variety of backgrounds — none of which are traditional marketing.

As a nerdy kid I loved tech and was fascinated by how business works. I always knew I wanted to find some way to help founders and innovators get their great ideas out into the world. After working in political campaigns, I realized that many of the skillsets overlapped with what startups need: moving fast, being lean, communicating well, being adaptable and staying flexible.

That inspired me to grow an “anti-agency” where startup founders could genuinely feel like they had someone on their team who understood their challenges and the risks they were taking.

How do you collaborate with startups?

Our services cater to every stage of the founder journey. When you’re starting, you’ll need a brand, strategy and the marketing infrastructure to reach early customers. As you’re growing, you’ll need ongoing marketing campaigns and automation that bolsters your funnel. As you’re maturing, you’ll need the broader reach that PR and ongoing strategic advice provides.

We like to keep engagements as flexible as possible because startups are always discovering new marketing opportunities or customer needs. Some relationships are ongoing, others are quick projects completed in a week. Our long-term relationships start with a growth strategy workshop, where we identify a north star metric so that everyone is pulling in the same direction from day one.

Our workshops help startup teams design a customer journey using the pirate metrics framework and turn that into a clear, step-by-step action plan which they can implement or outsource.


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There’s a survey on your site that encourages companies to check whether they are “ready for growth marketing.” What are the high-level points that make a company ready?

It’s really about having a small number of early fanatical customers — evangelists. Many people call it product-market-fit, but it’s really customer fit.

There is little point in lighting a rocket under a startup to grow and reach a wide audience without a clear, confident direction. Sure, you might get somewhere fast, but where are you going?

We’ve made the mistake of taking on clients who were too early for growth, so we know how important it is to say “no” when it’s not a good fit. We can direct all the traffic in the world to your website, but without customer fit you’ll be fighting for every sale.

Startups need to get a few things right to be primed for growth. Not every startup will be ready for what we can do for them. We’re focused on our own customer fit too.

For one-on-one work, who are your typical clients? 

Our most successful relationships are with startups who have already established customer fit and are looking to grow quickly. We work with B2B and B2C SaaS companies, as well as more traditional businesses who are looking to disrupt the way things are done in their industry.

We’ve grown startups in Australia and abroad, including neuroscience startup Humm, based in Berkeley, California. We worked with them to identify early customers and preorder channels while they were gathering initial investment, build a learning/experimenting system within the team as they grew and, more recently, provide advisory at a strategic level.

What mistakes do you help startups avoid when it comes to branding? 

After working with over 230 startups, we know what works and what doesn’t. Our clients work with us because they know we can help them avoid the pitfalls that inexperienced founders regularly fall into and make the most of the tight budgets that startups run on.

Marketing agencies are taking money that startups don’t have to build brand identities that startups don’t need. We would much prefer to see those resources invested into building their product and talking to their customers.

That said, it’s important for a landing page or slide deck to be believable to customers, investors and partners — and when startups underinvest in their branding, people are less likely to hand over their attention, email address and money.

For example, some clients often don’t even have suitable logo files or a wide enough color palette to create websites that effectively convert people into customers. If someone can’t clearly see your “sign-up” button when they land on your website because everything on your website is blue, it doesn’t matter how good your product or service is.

Can you explain why you advise startups to create a “minimum viable brand”? 

The temptation in the startup world is to use a freelancer through an online marketplace (or even worse — letting an overenthusiastic employee create a logo in PowerPoint). But this usually results in a surface-level logo design without any consideration for how it might develop over time or fit within a larger brand identity.

Other startups might work with an agency to create a brand identity, and this can lead to brand overkill — stationery kits, photography, lofty mission statements and endless meetings. None of which pre-seed startups need yet. This process wastes time and money better spent elsewhere and traps pivoting startups with an expensive brand that can’t evolve as they do.

We take branding processes used by world-class agencies and distill it down to the core parts of the brand you need right now. This leads to a minimum viable brand identity that’s built to grow and created with the expectation that it will change as your startup does. It’s inspired by lean methodology and the minimum viable product (MVP) — it’s built to challenge assumptions and catch the attention of customers without overinvesting.

What’s the process you follow to help startups develop their minimum viable brand?

Initially we help them come up with a name.

Naming is important so we generally invest time into this part to avoid changing it in the future if possible. We want to make sure it meets the basic principles of distinctiveness, brevity, appropriateness, easy spelling and pronunciation, likeability, extendibility and protectability (based on Marty Neumeier’s branding-in-business book Zag).

From there we design a logo. A good logomark (the “icon” part of the logo) is generally figurative and not literal. It should be scalable, simple and work in multiple environments including single color black or white. The logo is then complemented with brand color selections, fonts and simple imagery direction to create a basic but useful brand guide.

Most importantly, we believe your startup’s brand guidelines should be available publicly online, rather than in a PDF hidden in a folder on your Dropbox. Somewhere that you can direct your team members and partners to so you can ensure everyone can maintain brand consistency.

How does Ammo compare to having an in-house CMO?

Like a CMO, we’re strategic. But unlike a CMO, we have experience with hundreds of startups across dozens of industries — we can pull insights and lessons from unexpected places when we’re working with clients.

While we align closely with commercial goals like an in-house CMO, we also know the importance for startups to move quickly. That’s why everyone at Ammo rolls up their sleeves and gets things done for our clients.

We don’t have the mindset of taking months to develop an annual marketing strategy, we want to help our clients get in front of customers quickly, collect valuable data along the way and stay nimble to adapt when they need it.

How do you and your clients measure your impact?

At Ammo, we don’t measure time, we measure outcomes. At the start of every project we define what success looks like with the client. Every client is different, and we’re responsive to that. We check back in with ongoing clients in monthly meetings to see how we’re tracking toward the success metric we agreed on, adjusting as necessary.

All of this is measured through quantitative analytics, qualitative feedback from customers and gut instinct.

In the past we have described our role as making ourselves obsolete — that our clients would grow large enough to be able to hire their own in-house marketing team. Today we still retain many of these client relationships in different ways, by providing more strategic advice. Those long-term relationships are the greatest indication to us that we’ve had a valuable impact.

#australia, #brand-management, #growth-marketing, #lean-methodology, #marketing, #perth, #startups, #tc, #tc-experts, #verified-experts

Tips for managing growth across iOS updates

“I’ve seen startups spend thousands of dollars inefficiently as a result of not having optimal signal in their paid acquisition campaigns. I’ve also spent millions at companies such as Postmates refining our signal to the best possible state,” says growth marketer Jonathan Martinez in a guest column for Extra Crunch this week. “I’d like every startup to avoid the painful mistake of not having this set up correctly, instead making the most of every important ad dollar.”

The TechCrunch team has been busy this past week, especially with Disrupt next week and the iOS 15 release date quickly approaching. If you haven’t already registered for Disrupt, it’s not too late to get a ticket. We’re excited for all of the sessions, including “The Subtle Challenges of Assessing Product-Market Fit” on Tuesday, September 21 from 2:05 PM – 2:45 PM EDT the Extra Crunch stage. The marketing world was full steam ahead this past week, Martinez covered how to optimize signal and Miranda Halpern spoke with Vivek Sharma, CEO of Movable Ink about the impact that iOS 15 will have on email marketers. We also had guest posts from Bryan Dsouza of Grammarly and Xiaoyun TU of Brightpearl. More details below.

Help TechCrunch find the best growth marketers for startups.

Provide a recommendation in this quick survey and we’ll share the results with everybody.

If you didn’t already hear, we’re giving away one free ticket to Disrupt, through the Experts survey. Check out the schedule for Disrupt, and read on to learn about the giveaway details:

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Marketer: Andrew Race, Juice
Recommended by: Orin Singh, Merchant Industry
Testimonial: “We were referred to Juice by a family friend of my company’s owner and as a personal courtesy they said they were giving us their best guy. Naturally we thought that is what everyone says but they were not kidding. Andrew was singularly leagues above our previous marketing company. Having someone so knowledgeable and willing to learn a new industry proved to be the turning point for us.”

In growth marketing, signal determines success: Martinez learned from his mistakes, and share the lessons learned with us. From selecting the signal, to how to enhance it, Martinez covers key aspects including how to take advantage of iOS 14. He says, “So how do you stay ahead and continue moving the needle on your growth marketing campaigns? First and foremost, constantly question the events you’re optimizing for. And second, leave no stone unturned.”

Marketers should plan for more DIY metrics as iOS 15 nears: The release of iOS 15 will change that playing field for marketers. They’ll have to rely on metrics that use zero and first-party data rather than relying on email open rates as the main metric. Miranda spoke with Sharma about how this release will impact the industry and what marketers should focus on. One tip from Sharma is, “Focus on down funnel metrics like clicks and conversions — that’s what it really comes down to and that’s the truest indicator of engagement.”

(Extra Crunch) Demand Curve: How to get social proof that grows your startup: Nick Costelloe, head of content at Demand Curve, dives into social proof and how startups can use it to their advantage. On social proof, Costelloe says, “Have you ever stopped to check out a restaurant because it had a large lineup out front? That wasn’t by chance. It’s common for restaurants to limit the size of their reception area. This forces people to wait outside, and the line signals to people walking past that the restaurant is so good it’s worth waiting for.”

(Extra Crunch) 5 things you need to win your first customer: Dsouza, product marketing lead at Grammarly, walks us through how to win your first customer. He includes explanations, how-tos, and practice use cases. Dsouza says,” . . .ask any founder what really proves their startup has taken off, and they will almost instantly say it’s when they win their first customer.”

(Extra Crunch) 4 ways to leverage ROAS to triple lead generation: TU, global director of demand generation at Brightpearl, walks us through ways to use return on advertising spending (ROAS). She says, “When you choose a return metric, you need to make sure it matches your company goal without taking ages to get the data.”

Tell us who your favorite startup growth marketing expert to work with is by filling out our survey.

#advertising-tech, #ec-growth-marketing, #growth-marketing, #growth-roundup, #marketing, #startups, #tc, #tc-experts, #verified-experts

Demand Curve: How to get social proof that grows your startup

When people are uncertain, they look to others for behavioral guidance. This is called social proof, which is a physiological effect that influences your decisions every day, whether you know it or not.

At Demand Curve and through our agency Bell Curve, we’ve helped over 1,000 startups improve their ability to convert cold traffic into repeat customers. We’ve found that effectively using social proof can lead to up to 400% improvement in conversion.

This post shares exactly how to collect and use social proof to help grow your SaaS, e-commerce, or B2B startup.

Surprisingly, we’ve actually seen negative reviews help improve conversion rates. Why? Because they help set customer expectations.

How businesses use social proof

Have you ever stopped to check out a restaurant because it had a large line of people out front? That wasn’t by chance.

It’s common for restaurants to limit the size of their reception area. This forces people to wait outside, and the line signals to people walking past that the restaurant is so good it’s worth waiting for.

But for Internet-based businesses, social proof looks a bit different. Instead of people lining up outside your storefront, you’re going to need to create social proof that resonates with your target customers — they’ll be looking for different clues to signal whether doing business with your company is “normal” or “acceptable” behavior.

Social proof for B2B

People love to compare themselves to others, and this is especially true when it comes to the customers of B2B businesses. If your competitor is able to get a contract with a company that you’ve been nurturing for months, you’d be upset (and want to know how they did it).

Therefore, B2B social proof is most effective when you display the logos of companies you do business with. This signals to people checking out your website that other businesses trust you to deliver on your offer. The more noteworthy or respected the logos on your site, the stronger the influence will be.

Social proof for SaaS

Depending on the type of SaaS product or service you’re selling, you’ll either be selling to an individual or to a business. The strategy remains the same, but the channels will vary slightly.

The most effective way to generate social proof for SaaS products is through positive reviews from trusted sources. For consumer SaaS, that will be through influential bloggers and YouTubers speaking highly of your product. For B2B SaaS, it will be through positive ratings on review sites like G2 or Capterra. Proudly display these testimonials on your site.

Social proof for e-commerce brands

E-commerce brands will typically sell directly to an individual through ads, but because anyone can purchase an ad, you’re going to need to signal trust in other ways. The most common way we see e-commerce brands building social proof is by nurturing an organic social media following on Instagram or TikTok.

This signals to new customers that you’ve gotten the seal of approval from others like them. Having an audience also allows you to showcase user-generated content from your existing customers.

How to collect social proof

There are five avenues startups can tap to collect social proof:

  1. Product reviews
  2. Testimonials
  3. Public relations and earned media
  4. Influencers
  5. Social media and community

Here are a few tactics we’ve used to help startups build social proof.

#assistant, #cloud, #column, #e-commerce, #e-sports, #ec-column, #ec-growth-marketing, #ecommerce, #growth-marketing, #marketing, #review-tools, #saas, #social-media, #social-networks, #social-proof, #startups, #user-generated-content, #verified-experts

Choices and constraints: How DTC companies decide which strategy to follow

Companies typically have to settle on strategies that align with their customers, employees, investors, and regulators. The more they know about how the other side will decide, the clearer their own strategies become.

If regulators always prefer choice for consumers, then it is easy for a platform to allow multiple payment choices: Shopify allows multiple payment options from its partners, Apple doesn’t.

By regulatory intervention, it will have to now.

Nash equilibrium and Netflix time

Nash equilibrium is a fascinating, post-facto explanation for some of the interesting decisions you will often see in business.

In simple terms, Nash equilibrium states that if you have clarity on the other side’s decision, you can make yours without regret. In other words, there is no incentive to change strategy once each side knows what the optimal position of the other side is, in their combined transaction.

All physical products cannot escape retail, because ignoring retail means a smaller serviceable market. But it is a choice companies can make.

I see this playing out every weekend at home. I don’t mind reading a book alone or watching Netflix with my kid, but when I am available for Netflix and my kid decides to read a book, it is a bummer.

DTCs, DNVBs and game theory

In DTC, how companies decide their omnichannel strategy depends on how well they know what their customers’ choices are and what their ideal strategy will be. In many transactions, constraints are actually good forcing functions — they narrow down choices and help you arrive at an equilibrium faster and cheaper.

The marketing and public-market filing languages make for a fascinating read into the minds of companies.

When Warby Parker filed its IPO prospectus last month, the company referred to its digitally-native status in the past tense. The model was effectively flipped in 2020, as its share of online sales to total sales dropped from 65% to 40%. Meanwhile, its physical store count increased from 126 to 145.

#d2c, #direct-to-consumer, #dtc, #ec-column, #ec-ecommerce-and-d2c, #ecommerce, #growth-marketing, #marketing, #marketing-strategy, #merchandising, #omnichannel, #online-shopping, #startups, #verified-experts

4 ways to leverage ROAS to triple lead generation

Businesses that don’t invest in their future may not have a future to look forward to.

Whether you’re investing in your human resources or in critical tech, some outlay in the short term is always needed for long-term success. That’s true when it comes to marketing as well — you can’t market your product or service without investing in advertising. But if that investment isn’t turning into leads and conversions, you’re in trouble.

A “good” ROAS score is different for each company and campaign. If your figure isn’t where you’d like it to be, you can leverage ROAS data to create targeted campaigns and personalized experiences.

It’s vital to identify and apply the most suitable metrics based on business goals, and there’s no one best practice or one-size-fits-all method.

However, smart use of the return on advertising spend (ROAS) data can triple lead generation, as I discovered when I joined Brightpearl to restructure the marketing campaigns. Let’s take a look at some of the ways Brightpearl used ROAS to improve campaigns and increase lead generation. The key is to work out what represents a healthy ROAS for your business so that you can optimize accordingly.

Use the right return metric

It is paramount to choose the right return metric to calculate your ROAS. This will depend partly on your sales cycle.

Brightpearl has a lengthy sales cycle. On average it’s two to three months, and sometimes up to six months, meaning we don’t have tons of data on a monthly basis if we want to use new customer’s revenue data as the return metric. A company with a shorter sales cycle could use revenue, but that doesn’t help us to optimize our campaigns.

We chose to use the sales accepted opportunity (SAO) value instead. It usually takes us about a month to measure, so we can get more ROAS data at the same time. It’s the last sales stage before a win, and it’s more in line with our company goal (to grow our recurring annual revenue), but takes less time to gather the data.

By the SAO stage, we know which leads are good quality­ — they have the budget, are a good fit, and our software can meet their requirements. We can use them to measure our campaign performance.

When you choose a return metric, you need to make sure it matches your company goal without taking ages to get the data. It also has to be measurable at the campaign level, because the aim of using ROAS or other metrics is to optimize your campaigns.

Accept that less is more

I’ve noticed that many companies harbor a fear of missing out on opportunities, which leads them to advertise on all available channels instead of concentrating resources on the most profitable areas.

Prospects usually do their research on multiple channels, so you might try to cover all the possible touch points. In theory, this could generate more leads, but only if you had an unlimited marketing budget and human resources.

#advertising-tech, #column, #customer-relationship-management, #ec-column, #ec-how-to, #ec-marketing-tech, #lead-generation, #marketing, #roas, #sales, #search-engine-optimization, #social-media, #sql, #startups

5 things you need to win your first customer

A startup is a beautiful thing. It’s the tangible outcome of an idea birthed in a garage or on the back of a napkin. But ask any founder what really proves their startup has taken off, and they will almost instantly say it’s when they win their first customer.

That’s easier said than done, though, because winning that first customer will take a lot more than an Ivy-educated founder and/or a celebrity investor pool.

To begin with, you’ll have to craft a strong ideal customer profile to know your customer’s pain points, while developing a competitive SWOT analysis to scope out alternatives your customers can go to.

Your target customer will pick a solution that will help them achieve their goals. In other words, your goals should align with your customer’s goals.

You’ll also need to create a shortlist of influencers who have your customer’s trust, identify their decision-makers who make the call to buy (or not), and create a mapped list of goals that align your customer’s goals to yours.

Understanding and executing on these things can guarantee you that first customer win, provided you do them well and with sincerity. Your investors will also see the fruits of your labor and be comforted knowing their dollars are at good work.

Let’s see how:

1. Craft the ideal customer profile (ICP)

The ICP is a great framework for figuring out who your target customer is, how big they are, where they operate, and why they exist. As you write up your ICP, you will soon see the pain points you assumed about them start to become more real.

To create an ICP, you will need to have a strong articulation of the problem you are trying to solve and the customers that experience this problem the most. This will be your baseline hypothesis. Then, as you develop your ICP, keep testing your baseline hypothesis to weed out inaccurate assumptions.

Getting crystal clear here will set you up with the proper launchpad. No shortcuts.

Here’s how to get started:

  1. Develop an ICP (Ideal Customer Profile) framework.
  2. Identify three target customers that fit your defined ICP.
  3. Write a problem statement for each identified target customer.
  4. Prioritize the problem statement that resonates with your product the most.
  5. Lock on the target customer of the prioritized problem statement.

Practice use case:

You are the co-founder at an upcoming SaaS startup focused on simplifying the shopping experience in car showrooms so buyers enjoy the process. What would your ICP look like?

2. Develop the SWOT

The SWOT framework cannot be overrated. This is a great structure to articulate who your competitors are and how you show up against them. Note that your competitors can be direct or indirect (as an alternative), and it’s important to categorize these buckets correctly.

#business, #business-intelligence, #column, #customer-experience, #ec-column, #ec-how-to, #growth-marketing, #market-research, #marketing, #startup-advice, #startup-tips, #startups, #tc, #verified-experts

In growth marketing, signal determines success

Unlike a weak phone signal solely causing a grainy sound, in growth marketing, it can mean the difference between a successful program or a massive cash bleed. As we move toward an increasingly privacy-centric world, it is even more necessary for companies to nail down signal early on.

So what exactly is “signal” in growth marketing? It can carry many different meanings, but holistically speaking, it’s the event data in our arsenal to help guide decisions. When it comes to paid acquisition, it’s vital to optimize and pass back the correct event data to paid channels. This is so that targeting and bidding algorithms have the most enriched data to utilize.

I’ve seen startups spend thousands of dollars inefficiently as a result of not having optimal signal in their paid acquisition campaigns. I’ve also spent millions at companies such as Postmates refining our signal to the best possible state. I’d like every startup to avoid the painful mistake of not having this set up correctly, instead making the most of every important ad dollar.

The selection

When starting out, it may seem obvious to optimize toward a north-star metric such as a purchase. If spend is very minimal, that could mean that the conversion volume will be low across campaigns. On the flip side, if the optimization event is set at a top-of-funnel event such as a landing page view, the signal strength may be very weak. The reason that the strength may be weak is due to passing back a low-intent event as successful to the paid channels. By marking a landing page view as successful, paid channels such as Facebook will continue to find users that are similar to these lower-propensity users that are converting.

Let’s take an example of a health-and-wellness app with a goal of driving memberships to their coaching program. They’re just starting out with exploring paid acquisition and spending $5,000 per week on Facebook. Below is a look at their events in the funnel, weekly volume and cost per event:

Example of a health-and-wellness app and their weekly conversion volume at $5,000 spend. Image Credits: Jonathan Martinez

In the above example, we can see that there’s significant volume for landing page views. As we go down the simplified flow, there is less volume as users drop off the funnel. Almost everyone’s instinct would be to optimize for either the landing page view, because there’s so much data, or the subscription event, because it’s the strongest. I would argue (after extensive testing across multiple ad accounts) that neither of these events would be the correct pick. With landing page views as an optimization event, the users have an egregiously low propensity since the landing page view to subscription conversion rate is 0.61%.

The correct event to optimize for here would either be sign up or trial start because they have sufficient enough volume and are strong signals of a user converting to the north-star metric (subscription). Looking at the conversion rate between sign up and subscription, it’s a much healthier 10.21%, versus the 0.61% from landing page view.

I’m always a huge proponent of testing all events, as there can definitely be big surprises in what may work best for you. When testing events, make sure that there’s a stat-sig baseline that’s being followed to make decisions. Additionally, I think it’s a great practice to test events regularly early on because conversion rates can change as other channel variables are adjusted.

Flow adjustments

In certain cases, the current events that are set up aren’t optimal for paid acquisition campaigns. I’ve seen this happen frequently with startups that have long windows of time between conversion events. Take a startup such as Thumbtack, which provides a marketplace of providers who can help with home repairs. After someone signs up to their app, the user may place a request but not hire someone until a few weeks later. In this case, making flow adjustments could potentially improve the signal and data that you collect from users.

A solution that Thumbtack could implement to gather a stronger signal would be to add another step between the request being placed and hiring someone. This could potentially be a survey with propensity check questions that could ask how soon the user needs help or how important their project is from a 1–10.

Example of in-app survey responses to “How important is your project?” Image Credits: Jonathan Martinez.

After accumulating the data, if there’s a high correlation between survey answers and someone starting their project, we can start to explore optimizing for that event.

In the above example, we see that users who responded with “9” have a 7.66% likelihood to convert. Therefore, this should be the event we optimize for. Artificially adding steps that qualify users in a longer flow can help steer optimization targeting in the right direction.

Enhancing signal

Let’s imagine that you have the most ideal flow that captures large volumes of event signal without much of a delay to your optimization event. That’s still far from perfect. There are myriad solutions that can be implemented to further enhance the signal.

For Facebook specifically, there are connections such as CAPI that can be integrated to pass back data in a more accurate way. CAPI is a method of passing back web events server-to-server rather than relying on cookies and the Facebook pixel. This helps mitigate browsers that block cookies or users who may delete their web history. This is just one example. I won’t run through all the channels, but each has its own solution to help enhance event signal being passed back to it.

iOS 14 signal

This wouldn’t be a column written in 2021 without mention of iOS 14 and the strategies that can be leveraged for this growing user segment. I’ve written another piece about iOS-14-specific tactics, but I’ll cover it here on a broad level. If the north-star metric (i.e., purchase) event can be triggered within 24 hours of the initial app launch, then that’s golden.

This would bring large volumes of high-intent data that would not be at the mercy of the SKAD 24-hour event timer. For most companies, this may sound like a lofty goal, so the target should be to have an event fire within 24 hours that is a high-likelihood indicator of someone completing your north-star metric. Think of which events happen in the flow that lead to someone eventually purchasing. Maybe someone adding a payment method happens within 24 hours and historically has a 90% conversion rate to someone purchasing. An “add payment info” event would be a great conversion event to use in this case. The landscape of iOS 14 is constantly changing but this should apply for the immediate future.

Incrementality and staying ahead

As a rule of thumb, incrementality checks should constantly be performed in growth marketing. It gives an important read on whether advertising dollars are bringing in users that wouldn’t have converted had they not seen an ad.

When comparing optimization events, this rule still applies. Make sure that costs per action aren’t the only metric that’s being used as a measure of success, but instead, use the incremental lift on each conversion event as the ultimate key performance indicator. In this piece, I detail how to run lean incrementality tests without swarms of data scientists.

So how do you stay ahead and continue moving the needle on your growth marketing campaigns? First and foremost, constantly question the events you’re optimizing for. And second, leave no stone unturned.

If you’re using the same optimization event forever, it will be a disservice to your campaign performance potential. By experimenting with flow changes and running tests on new events, you’ll be way ahead of the curve. When iterating on the flow, think about user behavior and events from the user’s perspective. Which flow events, if added, would correlate to a high propensity conversion segment?

#column, #digital-marketing, #facebook, #growth-marketing, #marketing, #online-advertising, #social-media, #startups, #targeted-advertising, #tc, #verified-experts

Constructor finds $55M for tech that powers search and discovery for e-commerce businesses

One of the biggest problems in the world of e-commerce is the predicament of shopping cart abandonment: when shoppers aren’t getting to what they want fast enough — whether it’s finding the right item, or paying for it in a quick and easy way — they bounce. That singular problem is driving a wave of technology development to make the experience ever more seamless, and today one of the companies closely involved in that space is announcing some funding on the back of healthy growth.

Constructor, which has built technology that powers search and product discovery tools for e-commerce businesses, has picked up $55 million in a Series A round of funding. Constructor says that it powers “billions” of queries every month, with revenues growing 233% in the last year. Customers it works with include Sephora, Walmart’s Bonobos, Backcountry and many other big names.

The round is being led by Silversmith Capital Partners — which coincidentally, just today, led another round for an e-commerce startup, Zonos.

It is joined by a long list of notable individual investors. They include David Fraga, former president of InVision; Kevin Weil, former head of product at Twitter and Instagram; Jason Finger, founder of Seamless; Carl Sparks, ex-CEO of Travelocity; Robyn Peterson, CTO at CNN; Dave Heath, founder of Bombas; Ryan Barretto, president at Sprout Social; Melody Hildebrandt, EVP engineering and CISO at FOX; Zander Rafael, co-founder of Better.com; and Seth Shaw, CRO at Airtable. Cap Table Coalition — a firm that helps underrepresented-background investors back up-and-coming startups — was also involved. Fraga is joining Constructor’s board with this round.

The last year and a half has been a bumper one for the world of e-commerce — with more traffic, transactions and retailers moving online in the wake of social distancing measures impacting in-person, physical shopping. But that has also exposed a lot of the cracks in how e-commerce works (or doesn’t work, as the case may be).

One of the more dysfunctional areas is search and discovery. As most of us have unfortunately learned first-hand, when we search for things in the search window of an online store, it’s almost always the case that the results don’t have what we want.

When we browse as we might in a physical store, because we are not sure of what we want, all too often we are not prompted with pictures of things we might actually like to buy. They may be there — we typically visit sites because we either already know them, or have seen something we like elsewhere — but nevertheless, finding what we might actually like to buy can take a lot of time, and in many cases may never happen at all.

Eli Finkelshteyn, Constructor’s CEO and founder, says that one of the issues is that search and discovery are often built as static experiences: they are designed to meet a one-size-fits-all model where site architects have effectively guessed at what a shopper might want, and built for that. This is one area that Constructor has rethought, specifically by making search and discovery more dynamic and responsive to what’s happened before you ever visit a site.

“One of the things wrong with product discovery was that prescriptively sites show you what they think is valuable to you,” he said. “We think the process should be descriptive.”

As an example, he talked about Cheetos. Sometimes people who might want to buy these start out by navigating to the potato chip category. In many static searches, those results might not include Cheetos. Some people might abandon their search altogether (bounce), but some might navigate away from that and search specifically for Cheetos and add them to their carts. In a descriptive and more dynamic environment, Finkelshteyn believes that these two flows should subsequently inform all future chip searches.

“We take into account as much data as we can learn from, and that list is always growing,” he said. “The goal is anything we can learn from should become part of the user experience.”

Google is the current, undisputed leader in the world of search, and it too uses a lot of dynamic, AI-based tools to learn and tweak how it searches and what results it produces.

Interestingly it hasn’t extended as much of this to third parties as you might think. The company wound down its own site search product in 1997 and now if you look for this you are redirected to the company’s enterprise search suite.

There are however others that have also stepped into that void to provide services that compete with Constructor, including the likes of Algolia, Yext, Elasticsearch and more. Finkelshteyn believes that among all of these, none have managed yet to provide a service like Constructor’s that learns and adjusts its results constantly based on search and browsing activity.

This is one reason the company has stood out with its customers, and with investors.

“Constructor has built a search and discovery platform that is truly making a difference for enterprise retailers. They are providing customers with comprehensive and optimized search and discovery that is unmatched in the market,” said Sri Rao, Constructor board member and general partner at Silversmith Capital Partners, in a statement. “We are excited to partner with the Constructor team as they continue to revolutionize search and discovery capabilities for retailers across all platforms.”

Looking forward, there will be some interesting opportunities ahead for Constructor to take its search and discovery tools to new frontiers. These could include ways to bring in and account for shoppers on third-party platforms — currently Constructor does not power experiences on, say, social media, so that is one potential area to explore — as well as more offline experiences, critical as retailers and shoppers take on more blended approaches that might start online and finish in stores, or proceed the other way around, or find users walking around with their phones to shop even as they are in physical stores.

#algolia, #artificial-intelligence, #better-com, #board-member, #bonobos, #carl-sparks, #ceo, #co-founder, #constructor, #cto, #david-fraga, #e-commerce, #ecommerce, #founder, #funding, #google, #google-search, #invision, #jason-finger, #kevin-weil, #marketing, #merchandising, #online-shopping, #partner, #president, #retail, #seamless, #sephora, #shopping, #silversmith-capital-partners, #social-media, #sprout-social, #technology-development, #travelocity, #yext, #zonos

Sustainable e-commerce startup Olive now ships beauty products, in addition to apparel

Earlier this year, a startup called Olive launched its new shopping site and app with the goal of making e-commerce more efficient, convenient, and sustainable by offering a way for consumers to aggregate their orders from across retailers into single shipments that arrive in reusable packaging, not cardboard. If items need to be returned, those same packages are reused. Otherwise, Olive will return to pick them up. Since its February 2021 debut, the company has grown to include over 100 retailers, predominately in the fashion space. Today, it’s expanding again by adding support for another 25 beauty retailers.

Launch partners on the new effort include brands like Supergoop!, Kora Organics, Pai Skincare, Erno Laszlo, Jecca Blac, Sahajan, Clark’s Botanicals, NuFace, Purlisse, Cover FX, LYS Beauty, SiO Beauty, Peace Out Skincare, Koh Gen Do, Julep Beauty, In Common Beauty, Indie Lee, Glow Recipe, Ursa Major, RMS Beauty, Ceremonia, Sweet Chef, Follain, and BalmLabs.

They join Olive’s numerous apparel and accessory retailers like Adidas, Superga, Rag & Bone, Birdies, Vince, Goop, Khaite, and Veronica Beard, among others.

To support the expansion, Olive also developed a new set of reusable packaging that has protective elements for more damageable items. While before, the company had offered a variety of packages like soft-sided garment bags and various sizes of more rigid containers (see below), it’s now introducing its own alternative to the air bubble strips you’ll find in most Amazon boxes these days. Olive’s version is integrated into its reusable packaging and can be easily deflated by the customer when it’s time to return the package at pickup.

Image Credits: Olive, founder Nate Faust

The idea for Olive is a timely one. Due to the Covid-19 pandemic, e-commerce adoption has soared. But so has consumers’ guilt. Multiple packages land on doorsteps every week, with cardboard and plastic to recycle — if that’s even available in your area. Delivery trucks — Amazon, UPS, FedEx, and others — are now a daily spectacle on every city street. Meanwhile, market leaders like Amazon and Walmart seem largely interested in increasing the speed of delivery, not necessarily the efficiency and sustainability. (Amazon allows shoppers to pick an Amazon Day delivery, for consolidated shipments, but it’s opt-in.)

Olive founder Nate Faust says he was inspired to build the company after realizing how little interest there was from larger e-commerce players in addressing some of the inconveniences and inefficiencies in the market. Faust had previously served as a vice president at Quidsi (which ran Diapers.com and Soap.com and sold to Amazon), then co-founder and COO at Jet, which was acquired by Walmart for $3.3 billion. Before Olive, he was a senior vice president at Walmart.

After some soul searching, he realized he wanted to build something in the e-commerce space that was focused more on the social and environmental impact, not just on driving growth and consumption.

Image Credits: Olive

“I had an epiphany one evening when taking out the trash and recycling,” Faust explains. “It’s pretty crazy that we’re this far into e-commerce and this is the status quo delivery experience —  all this waste, which is both an environmental issue and a hassle for consumers,” he says. “And the bigger issue than the packaging is actually the fact that the majority of those packages are delivered one at a time, and those last-mile emissions are actually the biggest contributor of carbon emissions in the post-purchase e-commerce supply chain.”

Consumers may not think about all the issues, because many of them are hidden, but they do struggle in other ways beyond dealing with the waste. Returns are still a hassle — so much so, that Amazon now allows customers to go to Kohl’s where it’s partnered on in-store return kiosks that also help the brick-and-mortar retailer increase their own foot traffic.

Plus, consumers who shop from different sites have to set up online accounts over and over, entering in addresses and payment information many times, which is an annoyance. Olive offers the convenience of an Amazon-like one-stop-shop experience on that front.

Meanwhile, Olive addresses the return issue by allowing consumers to simply place their unwanted items back in Olive’s packaging then leave them on their doorstep or with the building’s doorman for return. It works with both the USPS and a network of local carriers to serve the customers in its current footprint, which is about 100 million U.S. consumers on both coasts.

While customers don’t have to deal with packaging, it hasn’t been entirely eliminated from the equation at this point. Olive today partners with retailers who ship packages to its own west coast and east coast warehouses, where they repackage them into the reusable containers to deliver to customers. Right now, that means Olive is responsible for the recycling issues. But it’s working with its brand partners to have them pack orders directly into the reusable packaging from the start — before shipping to Olive’s consolidation warehouses for delivery. Today, it has a few retailers on board with this effort, but it hopes that will eventually expand to include all partners.

The company generates revenue on an affiliate commission model, which works for now. But over time, it may need to evolve that business model over time, as its customer base and partnerships grow. At present, around 10,000 consumers have used Olive, ahead of any large-scale marketing and customer acquisition efforts on the startup’s part.

For now, New York-based Olive is growing its business by way of a fundraise of around $15 million from investors including Invus, Primary Venture Partners, and SignalFire.

#adidas, #amazon, #birdies, #diapers-com, #e-commerce, #east-coast, #ecommerce, #fedex, #goop, #kohls, #marketing, #nate-faust, #new-york, #online-shopping, #primary-venture-partners, #product-management, #quidsi, #retailers, #reuse, #soap-com, #startups, #united-states, #usps, #walmart, #west-coast

Sendoso nabs $100M as its corporate gifting platform passes 20,000 customers

Corporate gift services have come into their own during the Covid-19 pandemic by standing in as a proxy for other kinds of relationship building activities — office meetings, lunches, and hosting at events — that have traditionally been part and parcel of how people do business, but were no longer feasible during lockdowns, social distancing and offices closing their doors.

Now, Sendoso — a popular “end-to-end” gifting platform offering access to 30,000 products including corporate swag, regular physical gifts, gift cards and more; and then providing services like logistics, packing and sending to get those gifts to the recipients — is announcing $100 million of funding to capitalize on this shift, led by a big new investor.

New backer SoftBank, via its Vision Fund 2, is leading this latest Series C round of funding. Oak HC/FT, Struck Capital, Stage 2 Capital, Craft Ventures, Signia Venture Partners and Felicis Ventures — all previous investors — are also participating.

The company has been on a strong growth trajectory for years now, but it specifically saw a surge of activity as the pandemic kicked off. It now has more than 20,000 businesses signed up and using its services, particularly for sales and marketing outreach, but also to help shore up morale among employees.

“Everyone was stuck at home by themselves, saturated with emails,” said Kris Rudeegraap, the CEO of Sendoso, in an interview. “Having a personal connection to sales prospects, employees and others just meant more.” It has now racked up some 3 million gifts sent since launching in 2016.

Sendoso is not disclosing its valuation, but Rudeegraap hinted that it was four times higher than the startup’s Series B valuation from 2020. PitchBook estimates that to be $160 million, which would make the current valuation $640 million. The company has now raised over $150 million.

Rudeegraap said Sendoso will be using the funds in part to invest in a couple of areas. First, to hire more talent: it has 500 employees now and plans to grow that by 30% by the end of this year. And second, international expansion: it is setting up a European HQ in Dublin, Ireland to complement its main office in San Francisco.

Comcast, Kimpton Hotels, Thomson Reuters, Nasdaq and eBay are among its current customers — so this is in part to serve those customers’ global user bases, as well as to sign up new gifters. He estimated that the bigger market for corporate gifting is about $100 billion annually, so there is a lot to play for here.

The company was co-founded by Rudeegraap and Braydan Young (who is its chief alliances officer) on the back of a specific need Rudeegraap identified while working as a sales executive. Gifting is a very standard practice in the world of sales and marketing, but he was finding a lot of traction with potential and current customers by taking a personalized approach to this act.

“I was manually packing boxes, grabbing swag, coming up with handwritten notes,” he recalled. “It was inefficient, but it worked so well. So I dreamed up an idea: why not be able to click a button in Salesforce to do this automatically? Sometimes the best company is one that solves a pain point of your own.”

And this is essentially what Sendoso does. The startup’s platform integrates with a company’s existing marketing, sales and management software — Salesforce, HubSpot, SalesLoft among them — and then lets users use this to organize and order gifts through these channels, for example as part of larger sales, marketing or HR strategies. The gifts are wide-ranging, covering corporate swag, other physical presents, gift cards and more, and there are also integrations you can include to share gifting across teams of salespeople, to analyze the campaigns and more.

The Sendoso platform itself, meanwhile, positions itself as having the “marketplace selection and logistics precision of Amazon.com.” But Sendoso also believes it’s better than someone simply using Amazon.com itself since it ultimately takes a more personalized approach in how it presents the gift.

“There are a lot of things we do uniquely in terms of what we have built throughout our software, gifting options and logistics centre. We really personalize our gifts at scale with handwritten notes, special boxing, and more,” something that Amazon cannot do, he added. “We have built a lot of unique technology and logistics software that would make it hard for Amazon to compete.” He said that one of Sendoso’s integrations is actually with Amazon, so Sendoso users can order through there, but then the gift is first routed to Sendoso to be repackaged in a nicer way before being sent out.

At its heart, the startup has built a way of knitting together disparate work practices — some codified in software, and some based on human interactions and significantly more infused with randomness, emotion and ad hoc approaches — and built it all into a technology platform. The ability to scale what feels like an otherwise bespoke level of service is what has helped Sendoso gain traction not just with users, but investors, too:

“We believe Sendoso offers the most comprehensive end-to-end gifting platform in the market,” said Priya Saiprasad, a partner at SoftBank Investment Advisers. “Their platform includes a global marketplace of curated vendors, seamless integration with existing tools, global logistics, and deep analytics. As a result, Sendoso serves as the backbone to enterprises’ engagement programs with prospective customers, existing customers, employees and other key stakeholders. We’re excited to lead this Series C round to help Sendoso accelerate its vision.”

#amazon, #amazon-com, #business, #ceo, #comcast, #companies, #craft-ventures, #dublin, #ebay, #economy, #enterprise, #felicis-ventures, #funding, #gift, #gift-card, #giving, #hubspot, #ireland, #marketing, #partner, #salesforce, #salesloft, #san-francisco, #sendoso, #signia-venture-partners, #softbank, #softbank-group, #stage-2-capital, #struck-capital, #vision-fund

Use creative automation software to amp up your brand’s lower-funnel assets

With the holiday season around the corner, growth marketers are gearing up for their busiest time of the year. E-commerce brands are now leaning heavily on social sales and digital advertising, but should also expect an omnichannel shopper — 62% of shoppers plan to purchase both online and in-store this holiday season, according to Celtra.

The marketplace is crowded. Digital marketing requires high volumes of on-brand creative assets, and it is tough to produce them fast enough without compromising on brand equity or storytelling. While marketing channels have exploded in volume, most creative production workflows are the same as they were 50 years ago.

But marketing is a monster that feeds on creative assets, requiring more and more each quarter.

The reality is, any paid impression is also a brand impression and a chance to differentiate in the market. In fact, paid impressions are often the only chance you get to influence some shoppers. That’s why creative — your brand, your design and your message — matters. In growth marketing, traffic, subscriptions, direct-to-consumer channels, testing and, ultimately, revenue all rely on creative to succeed.

Yet, lower-funnel assets are rarely brilliant in branding or even remotely interesting. Teams are limited in meeting global demands across more channels than ever, and the creative they produce is suffering. Brands don’t have the luxury of spending time on design craft and storytelling at scale. Conversely, most creative automation solutions that can assist with efficiency aren’t currently equipped to scale high-quality creative that prioritizes branding and design excellence.

Enterprises are suffering from a creative gap where their content and asset needs are growing fast while team resources and budgets are stagnant or even declining.

Unfortunately, there isn’t a magic AI bullet to solve the challenge. You can’t just buy creative technology in the hopes that it alone will bridge the gap. You need to rethink workflows and team collaboration. If you’re serious about elevating your growth marketing creative, you need to invest in tools that are built for scale and brand governance at once.

#advertising-tech, #artificial-intelligence, #brand-management, #column, #digital-advertising, #digital-marketing, #ec-column, #ec-ecommerce-and-d2c, #marketing, #marketing-automation, #online-advertising, #tc

Trade promotion management startup Cresicor raises $5.6M to keep tabs on customer spend

Cresicor, a consumer packaged goods trade management platform startup, raised $5.6 million in seed funding to further develop its tools for more accurate data and analytics.

The company, based remotely, focuses on small to midsize CPG companies, providing them with an automated way to manage their trade promotion, a process co-founder and CEO Alexander Whatley said is done primarily manually using spreadsheets.

Here’s what happens in a trade promotion: When a company wants to run a discount on one of their slower-selling items, the company has to spend money to do this — to have displays set up in a store or have that item on a certain shelf. If it works, more people will buy the item at the lower price point. Essentially, a trade promotion is the process of spending money to get more money in the future, Whatley told TechCrunch.

Figuring out all of the trade promotions is a complicated process, Whatley explained. Companies receive data feeds on the promotions from several different places, revenue data from retailers, accounting source data to show how many units were shipped and then maybe data directly from retailers. All of that has to be matched against the promotion.

“No API is bringing this data back to brands, so our software helps to automate and track these manual processes so companies can do analytics to see how the promotions are doing,” he added. “It also helps the finance team understand expenses, including which are valid and those that are not.”

What certain companies spend on trade promotions can represent their second-largest cost behind manufacturing, and companies often end up reinvesting between 20% and 30% of their revenue into trade promotions, Whatley said. This is a big market, representing untapped growth, especially with U.S. CPG sales topping $720 billion in 2020.

“You can see how messy the whole industry is, which is why we have a bright future and huge TAM,” he added. “With this new funding, we can target other parts of the P&L like supply chain and salaries. We also provide analytics for their strategy and where they should be spending it — which store, on which supply. By allocating resources the right way, companies typically see a 10% boost in sales as a result.”

Whatley started the company in 2017 with his brother, Daniel, Stuart Kennedy and Nikki McNeil while a Harvard undergrad. Since raising the funding back in February, the company has grown 2.5x in revenue, while employee headcount grew 4x over the past 12 months to 20.

Costanoa Ventures led the investment and was joined by Torch Capital and a group of angel investors including Fivestars CTO Matt Doka and Hu’s Kitchen CEO Mark Ramadan.

John Cowgill, partner at Costanoa, said though Cresicor raised a seed round, the company was already acquiring brands and capital before releasing a product and grew to almost a Series A company without any outside capital, saying it “blew me away.”

Cresicor is the “perfect example” of a company that Costanoa would get excited about — a vertical software company using data or machine learning to augment a pain point, Cowgill added.

“The CPG industry is in the middle of a rapid change where we see all of these emerging, digital native and mission-driven brands rapidly eating share from incumbents,” he added. “For the next generation of brands to compete, they have to win in trade promotion management. Cresicor’s opportunity to go beyond trade is significant. It is just a starting point to build a company that is the core enabler of great brands.”

The new funding will be used mainly to hire more talent in the areas of engineering and customer success so the company can hit its next benchmarks, Alexander Whatley said. He also intends to use the funding to acquire new brands and on software development. Cresicor boasts a list of customers including Perfect Snacks, Oatly and Hint Water.

The retail industry is valued at $5.5 trillion, and one-fifth of it is CPG, Whatley said. As a result, he has his eye on going after other verticals within CPG, like electronics and pet food, and then expanding into other areas.

“We are also going to work with enterprise companies — we see an opportunity to work with companies like P&G and General Mills, and we also want to build an ecosystem around trade promotion and launch into other profit and loss areas,” Whatley said.

#advertising-tech, #alexander-whatley, #api, #artificial-intelligence, #brand, #business-intelligence, #costanoa-ventures, #cresicor, #enterprise, #food, #funding, #john-cowgill, #machine-learning, #marketing, #recent-funding, #software, #software-development, #startups, #tc, #torch-capital

Data remains a vital part of the marketing world

“One of the biggest things that brands struggle with is figuring out attribution, and how you continue to spend money even though you may have lost some signal into the platform,” says Greg Gillman, chief revenue officer of LA-based performance marketing agency MuteSix, “If Facebook skews too heavily, and Google is on last click, then sometimes it looks like things are never working. To help companies make informed business decisions, we are building statistical models that show information at higher-than-the-platform level.”

Another week, another growth recap. TechCrunch has been busy working to expand not only our staff editorial content, like Anna Heim’s interview with MuteSix this week, we’re also working on increasing our guest posts as well for growth marketing. In this recap, we have an article from guest columnist Jonathan Metrick, an episode of the Equity podcast that features Metrick, TechCrunch Managing Editor Danny Crichton and TechCrunch Senior Editor Mary Ann Azevedo.

Help TechCrunch find the best growth marketers for startups.

Provide a recommendation in this quick survey and we’ll share the results with everybody.

If you didn’t already hear, we’re giving away one free ticket to Disrupt through the Experts survey. Check out the schedule for Disrupt, and read on to learn about the giveaway details:

  • Have you already submitted a recommendation? That’s great — we’re counting all previous survey submissions as an entry for the Disrupt ticket.
  • We’ll also enter the next 100 survey submissions into the giveaway.
  • Do you want to submit 10 recommendations to increase your chance at winning? We love the enthusiasm, but we ask that you only submit one recommendation for each marketer that you’ve worked with.
  • Don’t know what to say in your recommendation? Start with what traits they had, what they did to help your company, how their work affected your business and go from there!
  • We manually go through all entries, so please don’t copy and paste the same response multiple times.
  • Have a question about the giveaway? Send us an email at ec_editors@techcrunch.com.

Marketer: Kevin Miller, GR0
Recommended by: Leeann Schudel, The Word Counter
Testimonial: “Super detailed analysis of the space and what keywords to target that would move the needle the most. There is a full dedicated SEO team that communicates weekly at the minimum and provides in-depth analysis. They are very transparent with their strategies and explain all moves they are making on their end and how it will benefit our company. Super easy and flexible to work with, aren’t stingy on deliverables and are always there as a consultant.”

Marketer: Subfolder
Recommended by: Hayley Sonntag, Podium
Testimonial: “They delivered an end-to-end content marketing program that drives 150,000+ organic website visitors every month.”

Marketer: Jordan Banafsheha, icepop
Recommended by: Mini Dreamers
Testimonial: “He had experience in e-commerce and impressed us on our first call with how detailed and thorough he was with his plan.”

Marketer: Mike Le, CB/I Digital
Recommended by: Tony Drockton, Hammitt
Testimonial: “In the two years of conversations I’ve only spoken to a few people that are so analytical and data-driven. His unique in-house algorithms to scale spend have allowed us to maintain the hypergrowth (60%) that we’re on.”

Marketer: Visiture
Recommended by: Stephanie Bregman, Manly Bands
Testimonial: “I have worked with Visiture in the past. They have great attention to detail and really listen to their clients. Their ability to write great optimized content and perform outreach is what makes them stand out from other agencies and helped grow our ranked keywords faster than any other agency could. They have also helped us with our email flows and strategy and have been a great partner.”

Marketer: Tuff
Recommended by: Luke Oehlerking, Zenernet
Testimonial: “We were looking for a team focused on marketing that can truly move the needle with measurable results. And we wanted a company that can function as an extension of our own team, which Tuff seems to do exceedingly well at!”


Performance marketing agency MuteSix bets on content and data to boost DTC e-commerce: Anna spoke with Greg Gillman from MuteSix as part of our TechCrunch Experts series. This interview dives into performance marketing, what differentiates MuteSix from other agencies and the importance of data. Gillman says, “There’s one other piece that I think is super important and usually overlooked: first-party data. We work with brands to try and acquire as much of that first-party data as possible, segment it and use it, because that’s what they’d be left with if Facebook shut off tomorrow.” Read the full interview to find out what other pieces of data MuteSix focuses on.

(Extra Crunch) Use cohort analysis to drive smarter startup growth: Jonathan Metrick’s guest column explains not only what cohort analysis is, but why it’s important — especially to startups, using Black Friday in November of 2020 as an example. Metrick says, “Savvy marketers can go further and leverage cohort analysis to remove biases hidden within averages or blended metrics. One way to do this is segmenting ARPU by paid and organic channels, which allows you to gauge the sustainability of your customer growth.”

TikTok, influencers on the clock: Metrick joined the Equity crew to lend his expertise about growth marketing, especially in the ever-changing COVID-19 world. This episode is a must-listen.

Tell us who your favorite startup growth marketing expert to work with is by filling out our survey.

#ec-growth-marketing, #growth-marketing, #growth-roundup, #marketing, #tc

TikTok, influencers on the clock

Alex is on a well-deserved vacation this week, so for the Equity Wednesday deep dive, we took the conversation to Twitter Spaces. Danny, Mary Ann and Jonathan Metrick, the chief growth officer at Portage Ventures, dove into growth marketing. You can listen to the full episode on the Equity Podcast feed.

This conversation was spurred by the TechCrunch Experts project, where we’re looking for the best growth marketers for startups. Metrick was recommended to us in July (you can read his featured recommendation in our growth roundup) and we were eager to learn from his experience.

Help TechCrunch find the best growth marketers for startups.

Provide a recommendation in this quick survey and we’ll share the results with everybody.

In this conversation, we cover:

  • Influencers taking on the marketing world
  • The challenges marketers face with iOS 14
  • How Metrick sees trends developing geographically
  • What holiday advertising might look like in 2021
  • How to build a growth marketing team

Equity drops every Monday at 7:00 a.m. PST, Wednesday, and Friday at 6:00 a.m. PST, so subscribe to us on Apple PodcastsOvercastSpotify and all the casts!

#ec-growth-marketing, #equity, #equity-podcast, #experts, #growth-marketing, #influencers, #marketing, #podcasts, #social-marketing, #startups, #tc, #tik-tok, #verified-experts

Meet retail’s new sustainability strategy: Personalization

We have been raised to believe in recycling, but it has mostly been a sham — only 9% of all plastic waste produced in 2018 was recycled. The beauty industry produces over 120 billion units of packaging every year, little of which is recycled. Globally, an estimated 92 million tons of textile waste ends up in landfills.

Reducing waste is key to meeting environmental milestones, and some retail firms have narrowed in on a unique approach to minimize what their customers throw away: personalization. Accurate personalization can guide consumers to the right products, reducing waste while increasing conversion and loyalty.

Reducing waste is key to meeting environmental milestones, and some retail firms have narrowed in on a unique approach to minimize what their customers throw away: personalization.

For big brands and retailers, personalization is expected to be the top category for tech investment this year. Moreover, personalization holds high appeal, with 80% of survey respondents indicating they are more likely to do business with a company if it offers personalized experiences and 90% indicating that they find personalization appealing, according to a survey by Epsilon.

Startups that deliver sustainable personalization solutions that also improve business for retailers and brands fall into three categories:

  • AR virtual try-on with shade matching.
  • Advanced virtual fitting rooms with VR/AR for fashion.
  • Smart packaging with IoT and distributed ledger technology.

AR virtual try-on with shade matching

Faces are easy to map, since it’s not difficult to virtually place a lipstick color on a face, but using AR and AI to recommend skin-tone-matching makeup products has been challenging for many AR virtual try-on companies. “I’ve been searching for an intuitive foundation-shade-finder tool since launching Cult Beauty in 2008, and nothing has lived up to the experience of having a professional match you in daylight until I discovered MIME,” says Alexia Inge, founder of Cult Beauty. “There are so many variables like light, skin tones, prevalent undertones, device, screen, OS, formula density, formula oxidation, as well as preferences for coverage levels, finish, brand and skin type,” she says.

MIME founder and CEO Christopher Merkle said, “Virtual try-on has exploded in the past few years, but for color cosmetics, the technology doesn’t help solve the primary customer pain point: shade matching. From day one, I decided to focus our company’s R&D efforts exclusively on color accuracy. I want to make sure that when the consumer receives their foundation or concealer in the mail, it’s the perfect shade once applied to their skin.”

MIME’s Shade Finder AI allows consumers to take a photo of themselves, answer a few questions, then get matched with a makeup color that pairs with their skin tone. MIME helps retailers and brands increase their online and in-store purchase conversion by up to five times. More than 22% of beauty returns are due to poor customer color purchases, but Merkle says MIME can get returns as low as 0.1%.

#amazon, #apple-inc, #arkit, #artificial-intelligence, #augmented-reality, #body-labs, #column, #cosmetics, #ec-column, #ec-consumer-applications, #ec-ecommerce-and-d2c, #ec-food-climate-and-sustainability, #ecommerce, #marketing, #new-york, #online-shopping, #personalization, #startups, #tc, #true-ventures, #virtual-reality, #walmart

Performance marketing agency MuteSix bets on content and data to boost DTC e-commerce

Warby Parker filing to IPO last week was one more sign that direct-to-consumer (DTC) is an extremely powerful e-commerce trend. But LA-based performance marketing agency MuteSix didn’t wait that long to build its business around scaling DTC brands.

Created in 2014 and acquired by Dentsu in 2019, MuteSix was recommended to TechCrunch by Rhoda Ullmann, VP Consumer at Sense, a Boston-based startup building a home energy monitor. “They demonstrate best-in-class expertise with Facebook and Google paid ad platforms. They also have a very smart and efficient approach to creative development that was critical to helping us scale,” she wrote. (If you have growth marketing agencies or freelancers to recommend, please fill out our survey!)

Besides Sense, MuteSix’s former and current clients include companies such as Adidas, Petco, Ring and Theragun, to whom it provides a full range of marketing services, including top-notch direct response videos. But regardless of whether you can afford this, we think you’ll learn interesting lessons from our conversation with their CRO, Greg Gillman. The key takeaway? In today’s highly competitive ad environment, both content and data are kings.

Editor’s note: The interview below has been edited for length and clarity.

What can you tell us about MuteSix as an agency?

Greg Gillman

Image Credits: MuteSix

Greg Gillman: We’ve been around for about nine years. We started out as a Facebook ad agency — as opposed to a lot of agencies that start out by saying they do everything, we decided to focus on what we were really good at. At the time, it was doing Facebook media buying for e-commerce companies. Primarily here in LA, which is kind of the hub of these companies, but also all over. And then bit by bit, we grew the organization.

At this point, we’re a little over 400 people, and we manage upward of $500 million in spend on Facebook and Google, including Instagram and YouTube. What we’ve grown into is a one-stop shop for DTC e-commerce companies: We manage all the channels that a DTC brand needs. And we’re a performance agency; everything we do is based on results. People come to us to drive revenue into their e-commerce businesses.

Why do you think that performance marketing is the right fit for DTC?

DTC entrepreneurs are more focused on immediate impact, because if they’re not selling product, there’s no large brand propping them up. So I think that doing DTC marketing requires you to be more performance focused. For agencies that work with large brands, usually it’s more about impression buying versus performance buying. They can say: I did a reach campaign today to hit 10 million eyeballs, and whatever happens happens, because at the end of the day, you just told us to do 10 million impressions. It’s different than working with a group like us that’s trying to optimize every small piece of the funnel, and being accountable for the entire funnel to drive as much sales or revenue.

What type of clients do you work with?

The majority of the companies we work with are digitally native DTC companies. We’ve mostly stayed in that lane, because we’re really good at it. That being said, we work with companies of all sizes — startups, companies that are already established, and very large companies that need to rework both their creative and their media buying strategy.

I oversee sales, marketing and partnerships, and my role is really trying to figure out which brands make most sense to partner with MuteSix. We’re looking for high-growth brands that we can scale, and we’ve learned through the years that what works well are demonstrable products that have cool user value props.

We’ve worked with lots of startups at different points in the funnel, starting from the ground up and working with them through various rounds of funding, all the way through acquisitions, including two by unicorns. But these days, ground up is tougher. I like them to have some proof of concept — putting through $10,000-$15,000 per month on Facebook or $5,000-10,000 on Google usually shows me that there’s some life to it. But I don’t want to limit us if it’s a cool idea. I talk to a lot of people who come back once they’ve proven it out a little bit.


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What kind of clients are definitely not a good fit?

It won’t be a fit if there’s no real unique value prop for the product. If it’s just another run-of-the-mill company, a consultant can charge them a lower amount of money and set up Facebook ads, but what we are looking for are high-growth businesses.

The compensation for our campaign managers is actually tied to the performance of the campaigns, so if I bring a bunch of campaigns that we can’t scale, we’re gonna have a lot of unhappy media buyers who ask: “Greg, why would we take on this brand?” It’s a business model that has helped us attract top talent, but we need to make sure that we’re bringing brands that we think we can scale.

And it’s easier than ever to start a company, but it’s tougher now to scale it and take it past the $2 million-$3 million run rate. So I always revert back to asking founders: What are five reasons why people want to buy your product? What are the five reasons that they don’t? If the entrepreneur has trouble answering this, it’s not going to work. If they can’t tell somebody why their business is good, then we’re not going to be good at selling it.

How is MuteSix different from other agencies?

I’d say the main difference is that we have a 70-person in-house video creative team; and what we’re really good at doing is shooting and coming up with performance content. Not just content that looks and feels great, but video that is reverse-engineered to sell product.

Another key component is that we have a whole data science team that is also integrated with our media buying team, and that helps companies navigate things like attribution and signal loss due to the iOS 14 update. Right now, that means focusing on looking at the whole picture rather than by channel and working on mix-modeling attribution.

What are some of the things your data team focuses on?

One of the biggest things that brands struggle with is figuring out attribution, and how you continue to spend money even though you may have lost some signal into the platform. If Facebook skews too heavily, and Google is on last click, then sometimes it looks like things are never working. To help companies make informed business decisions, we are building statistical models that show information at higher-than-the-platform level.

We are also building better segments of customer profiles that help the clients understand who their core audience is, but also helps us build predictive audiences for finding new people.

Another big thing we’re trying to solve is incrementality. We work with large brands that have a strong organic following on social media; and their question is: “Hey, Greg, why should I spend more money if I would have acquired those users anyway?” So we’ve done incrementality testing with brands that spend a lot in other channels than Facebook and Google. We helped them build out different ways to look at the data so that we continue to spend in those channels and they actually know the incremental lift that they’re getting.

There’s one other piece that I think is super important and usually overlooked: first-party data. We work with brands to try and acquire as much of that first-party data as possible, segment it and use it, because that’s what they’d be left with if Facebook shut off tomorrow.

How do you prepare and adapt for changes in the marketing ecosystem?

Because we work with so many brands, we have a lot of senior leadership on each channel level. We routinely meet across departments and share insights. The data science team also builds pretty robust reporting. We try to stay ahead of our brands and to be forward-thinking about anything that is ultimately going to impact the agency. We’re constantly trying to hack our way through things like the types of content that work and things that we know will help us scale.

That’s how we have always approached it. Every major shift in our business was done to answer the needs of the brands that we were working with. For instance, there’s a data side to our business because it’s more important than ever to use that. Facebook used to be a platform where you could throw anything at the wall, and you would get a 4x or 5x return. No one’s asking about data when you’re literally printing money out of Facebook, right? It only happens when the margins get tight. But then Facebook became a more crowded platform, and the same happened with Google: more advertisers, higher CPM and a more competitive environment. We needed to be smarter about what we were doing, so we built out our data team.

Now there’s two levers that we can pull: the data side and the creative side of the business. Again, we are a performance marketing agency, focusing on all the levers. Because platforms like Facebook are only going to be more competitive, they’re only going to get more expensive, and we are only going to lose more traffic. So the more agile agencies have to think much farther outside of what we are doing on these platforms; because we’re going to make up the incremental revenue on things like SMS, influencer marketing and organic content, to continue to drive money into the top of the funnel.

Why is your content arm so important as a lever?

We have an integrated solution where our media buyers are paired directly with our video editors and producers to allow us to be agile and quick; because as everyone knows, content is king. What we try to do is optimize around things like what we call the thumbs-up rate on Facebook — three-second video views. If I held someone for that long in their newsfeed, I can potentially get them into our flow. We do the same on YouTube, and we do things like this on programmatic, because the name of the game is to get people into the funnel and work them through it. And we’re using both our data science team and our creative team to build out and optimize on the front end around these quick metrics to get things moving.

In my opinion, there’s no close second to an SMB agency that has a content arm like we do. Leveraging our content team to build performance content is one of the biggest levers that we have. Three and a half years ago, Facebook was telling us: “If you don’t build video content, and if you don’t prioritize video in the newsfeed, it’s not going to work.” At the time, we leaned in very hard — and the pain of growing a creative team of 70 people is real, especially in LA. But it’s allowed us to scale our agency.

#content-marketing, #d2c, #d2c-brands, #dtc, #e-commerce, #facebook, #growth-marketing, #los-angeles, #marketing, #online-advertising, #startups, #tc, #tc-experts, #verified-experts

Pixalate tunes into $18.1M for fraud prevention in television, mobile advertising

Pixalate raised $18.1 million in growth capital for its fraud protection, privacy and compliance analytics platform that monitors connected television and mobile advertising.

Western Technology Investment and Javelin Venture Partners led the latest funding round, which brings Pixalate’s total funding to $22.7 million to date. This includes a $4.6 million Series A round raised back in 2014, Jalal Nasir, founder and CEO of Pixalate, told TechCrunch.

The company, with offices in Palo Alto and London, analyzes over 5 million apps across five app stores and more 2 billion IP addresses across 300 million connected television devices to detect and report fraudulent advertising activity for its customers. In fact, there are over 40 types of invalid traffic, Nasir said.

Nasir grew up going to livestock shows with his grandfather and learned how to spot defects in animals, and he has carried that kind of insight to Pixalate, which can detect the difference between real and fake users of content and if fraudulent ads are being stacked or hidden behind real advertising that zaps smartphone batteries or siphons internet usage and even ad revenue.

Digital advertising is big business. Nasir cited Association of National Advertisers research that estimated $200 billion will be spent globally in digital advertising this year. This is up from $10 billion a year prior to 2010. Meanwhile, estimated ad fraud will cost the industry $35 billion, he added.

“Advertisers are paying a premium to be in front of the right audience, based on consumption data,” Nasir said. “Unfortunately, that data may not be authorized by the user or it is being transmitted without their consent.”

While many of Pixalate’s competitors focus on first-party risks, the company is taking a third-party approach, mainly due to people spending so much time on their devices. Some of the insights the company has found include that 16% of Apple’s apps don’t have privacy policies in place, while that number is 22% in Google’s app store. More crime and more government regulations around privacy mean that advertisers are demanding more answers, he said.

The new funding will go toward adding more privacy and data features to its product, doubling the sales and customer teams and expanding its office in London, while also opening a new office in Singapore.

The company grew 1,200% in revenue since 2014 and is gathering over 2 terabytes of data per month. In addition to the five app stores Pixalate is already monitoring, Nasir intends to add some of the China-based stores like Tencent and Baidu.

Noah Doyle, managing director at Javelin Venture Partners, is also monitoring the digital advertising ecosystem and said with networks growing, every linkage point exposes a place in an app where bad actors can come in, which was inaccessible in the past, and advertisers need a way to protect that.

“Jalal and Amin (Bandeali) have insight from where the fraud could take place and created a unique way to solve this large problem,” Doyle added. “We were impressed by their insight and vision to create an analytical approach to capturing every data point in a series of transactions —  more data than other players in the industry — for comprehensive visibility to help advertisers and marketers maintain quality in their advertising.”

 

#ad-fraud, #advertising-tech, #apps, #artificial-intelligence, #cloud, #digital-advertising, #enterprise, #funding, #jalal-nasir, #javelin-venture-partners, #marketing, #mobile, #mobile-advertising, #noah-doyle, #online-advertising, #pixalate, #recent-funding, #smartphone, #startups, #tc, #western-technology-investment

iPhone inside 30 mins? Germany’s Arive brings consumer brands to your door, raises €6M

In Europe and the US we are very much getting used to groceries being delivered within 15 minutes, with a huge battleground of startups in the space. Startups across Europe and the US have raised no less than $3.1 billion in the last quarter alone for grocery deliveries within 10 or 20-minute delivery promises. But all are scrambling over a market where the average order size is pretty low. What if it was in the hundreds, and didn’t require refrigeration?

This is probably going to be the newest “15/30minute” consumer battleground, as high-end consumer goods come to last-mile deliveries.

The latest to Arive in this space is… arive – a German-based startup that delivers high-end consumer brands within 30 minutes. It’s now raised €6 million in seed funding from 468 Capital, La Famiglia VC and Balderton Capital.

But stacking its shelves with well-known brands and spinning up last-mile delivery logistics, Arive is offering fitness products, cosmetics, personal care, homeware, tech and fashion. Consumers order via an app, with the delivery coming via a bike-only fleet in 30-minutes or less.

The behavior it’s tapping into is already there. It seems the pandemic has made us all work and play from home, leaving foot traffic in inner cities still below pre-Covid levels.

Arive says it works directly with brands to offer a selection of their products for on-demand delivery, offering them a new distribution channel to a new type of customer that wants speed and convenience.

arive is currently available in Munich and has recently launched in Berlin, Frankfurt, and Hamburg. The 30-minute delivery guarantee means it doesn’t need as many micro fulfillment centers as grocery players, helping it to keep infrastructure costs low.

Maximilian Reeker, co-founder of arive, said: “While the space for hyper-fast grocery delivery is increasingly crowded, we found the brands we love are still stuck in a three-day delivery scheme. For today’s time-poor consumers, this is too long.”

Bardo Droege, investor at 468 Capital, commented: “Our cities are dynamic, fast-moving places, and people living there want the tools and services that reflect their lifestyles so it’s no wonder the 15-minute groceries category has taken off so quickly. We’re confident the arive team will take this on.”

#balderton-capital, #berlin, #business, #co-founder, #delivery, #distribution, #economy, #europe, #frankfurt, #grocery-store, #hamburg, #marketing, #munich, #tc, #united-states

Olsam raises $165M to buy up and scale consumer and B2B Amazon Marketplace sellers

On the heels of Heroes announcing a $200 million raise earlier today, to double down on buying and scaling third-party Amazon Marketplace sellers, another startup out of London aiming to do the same is announcing some significant funding of its own. Olsam, a roll-up play that is buying up both consumer and B2B merchants selling on Amazon by way of Amazon’s FBA fulfillment program, has closed $165 million — a combination of equity and debt that it will be using to fuel its M&A strategy, as well as continue building out its tech platform and to hire more talent.

Apeiron Investment Group — an investment firm started by German entrepreneur Christian Angermayer — led the Series A equity round, with Elevat3 Capital (another Angermayer firm that has a strategic partnership with Founders Fund and Peter Thiel) also participating. North Wall Capital was behind the debt portion of the deal. We have asked and Olsam is only disclosing the full amount raised, not the amount that was raised in equity versus debt. Valuation is also not being disclosed.

Being an Amazon roll-up startup from London that happens to be announcing a fundraise today is not the only thing that Olsam has in common with Heroes. Like Heroes, Olsam is also founded by brothers.

Sam Horbye previously spent years working at Amazon, including building and managing the company’s Business Marketplace (the B2B version of the consumer Marketplace); while co-founder Ollie Horbye had years of experience in strategic consulting and financial services.

Between them, they had also built and sold previous marketplace businesses, and they believe that this collective experience gives Olsam — a portmanteau of their names, “Ollie” and “Sam” — a leg up when it comes to building relationships with merchants; identifying quality products (versus the vast seas of search results that often feel like they are selling the same inexpensive junk as each other); and understanding merchants’ challenges and opportunities, and building relationships with Amazon and understanding how the merchant ecosystem fits into the e-commerce giant’s wider strategy.

Olsam is also taking a slightly different approach when it comes to target companies, by focusing not just on the usual consumer play, but also on merchants selling to businesses. B2B selling is currently one of the fastest-growing segments in Amazon’s Marketplace, and it is also one of the more overlooked by consumers.”It’s flying under the radar,” Ollie said.

“The B2B opportunity is very exciting,” Sam added. “A growing number of merchants are selling office supplies or more random products to the B2B customer.”

Estimates vary when it comes to how many merchants there are selling on Amazon’s Marketplace globally, ranging anywhere from 6 million to nearly 10 million. Altogether those merchants generated $300 million in sales (gross merchandise value), and its growing by 50% each year at the moment.

And consolidating sellers — in order to achieve better economies of scale around supply chains, marketing tools and analytics, and more — is also big business. Olsam estimates that some $7 billion has been spent cumulatively on acquiring these businesses, and there are more out there: Olsam estimates that there are some 3,000 businesses in the UK alone making more than $1 million each in sales on Amazon’s platform.

(And to be clear, there are a number of other roll-up startups beyond Heroes also eyeing up that opportunity. Raising hundreds of millions of dollars in aggregate,  others have made moves this year include Suma Brands ($150 million); Elevate Brands ($250 million); Perch ($775 million); factory14 ($200 million); Thrasio (currently probably the biggest of them all in terms of reach and money raised and ambitions), HeydayThe Razor GroupBrandedSellerXBerlin Brands Group (X2), Benitago, Latin America’s Valoreo and Rainforest and Una Brands out of Asia.)

“The senior team behind Olsam is what makes this business truly unique,” said Angermayer in a statement. “Having all been successful in building and selling their own brands within the market and having worked for Amazon in their marketplace team – their understanding of this space is exceptional.”

#amazon, #amazon-marketplace, #artificial-intelligence, #asia, #berlin-brands-group, #business, #christian-angermayer, #co-founder, #e-commerce, #ecommerce, #entrepreneur, #financial-services, #founders-fund, #funding, #latin-america, #london, #marketing, #peter-thiel, #retailers, #sales, #united-kingdom

Making a splash in the marketing world

“There are three common blunders that most SaaS marketers make time and again when it comes to clarity and high-converting content,” says Konrad Sanders, founder and CEO of The Creative Copywriter, “1. Not differentiating from competitors. 2. Not humanizing ‘tech talk.’ 3. Not tuning their messaging to prospects’ stage of awareness at the appropriate stage of the funnel.”

In an oversaturated market, how can you differentiate yourself? This week in marketing, Sanders took the time to answer that, break down B2B SaaS marketing, and tell us how marketers can do it right. Anna Heim, Extra Crunch daily reporter, interviewed Robert Katai, a Romanian marketing expert, as part of our TechCrunch Experts series. If there’s a growth marketer that you think we should know about, fill out our survey and tell us why!

Marketer: One Net Inc.
Recommended by: The Good Ride
Testimonial: “Exceptional SEO expertise. My e-comm startup relies 100% on SEO traffic and three years ago we were delisted from Google because we didn’t understand about duple content. One Net fixed our site and optimized it for Google, which allowed us to get back into the SERPs. Bottom line is: They saved our business.”

Marketer: Natalia Bandach, Hypertry
Recommended by: Jean-Noel Saunier, Growth Hacking Course
Testimonial: “Natalia is someone with an out-of-the-box approach to growth drivers and experimentation, full of creative solutions and many ideas that she quickly tests through experimentation. Rather than focusing on one area, she tries to verify what makes the most sense to a business and designs experiments that are crucial not only short but also long term. She is an ethical growth manager, likes to know that the business brings real value and is ready to pivot in every direction, [which] she does fast, however, with a focus on the team’s well-being, professional growth and always avoiding burnout.”

Help TechCrunch find the best growth marketers for startups.

Provide a recommendation in this quick survey and we’ll share the results with everybody.

Marketer: Avi Grondin, Variance Marketing
Recommended by: Adam Czach, Explorator Labs
Testimonial: “They have a hands-on approach and worked with my team to not only drive results, but educate us on how we can grow our company further.”

Marketer: Nate Dame, Profound Strategy
Recommended by: Amanda Valle, Adobe
Testimonial: “They offered a robust content research, management and writing platform, which is enabling us to manage, produce and collaborate around our content better.”

Marketer: Oren Greenberg, Kurve
Recommended by: Michael Lorenzos
Testimonial: “He’s the most well-versed growth marketer I’ve met with a wide range of expertise and an uncanny ability to zoom in and out for business context and tactical implementation.”

(Extra Crunch) Are B2B SaaS marketers getting it wrong?: Konrad Sanders, a content strategist in addition to being the founder and CEO at The Creative Copywriter, wrote about SaaS marketing for Extra Crunch. He dove into what SaaS marketers are getting wrong, how to stand out in the crowded industry and the importance of how to approach each section of your funnel. Sanders says, “By creating content for every stage of the funnel, you’ll address your prospects’ concerns at the appropriate point in the buyer journey and increase the chances that when they do come to make a purchase, it’s with you.”

Romanian marketing expert Robert Katai explains how to get the most out of your content: This week, Anna profiled Robert Katai. Katai told her all about Romania’s startup scene and his views on repurposing content. When speaking about using content for carousels on Instagram and LinkedIn, he says, “The first slide should grab attention — it can be a question. The second slide can be a link to the interview so that even if people don’t click it, it will be on their minds. Then you can have slides with insights.” Read the full interview to find out what the third slide should be!

Tell us who your favorite startup growth marketing expert to work with is by filling out our survey.

#content-marketing, #ec-growth-marketing, #experts, #growth-marketing, #growth-roundup, #marketing, #saas, #tc, #tc-experts, #verified-experts

Accounting platform Synder raises $2M to automate e-commerce bookkeeping

As Synder’s two co-founders Michael Astreiko and Ilya Kisel wrap up their time at Y Combinator, they also announced their seed round of $2 million from TMT Investments.

Though the round was acquired before going into the accelerator program, the Belarus-based pair wanted to wait to publicly share the milestone. As they focus their sights on their next journey of growth and expansion, the new funding will go toward attracting more clients, visibility and sales.

The company bills itself as an easy accounting platform for e-commerce businesses. It was originally founded as CloudBusiness in 2016 and developed accounting automation and management of business finances for small and mid-size businesses.

Astreiko and Kisel started Synder, in 2018 and a year later focused on the company full-time to develop an easy way for commerce companies to shift to omnichannel sales, something Astreiko told TechCrunch can be “a huge pain” due to the complexity of different payment systems and high fees.

“There are a lot of solutions on the market, but you still have to have special knowledge to operate within accounting or commerce,” Kisel said. “For us, the simplicity means that it is worth it if you can have access in several clicks to consolidated inventory, profits and liabilities. Small businesses sometimes are not sharing this information due to competition, but if something is working and easy, they will definitely share it.”

Synder does the heavy lifting for companies by connecting sales channels like Amazon, Shopify, eBay and Etsy into one platform that users can manage with one-click operations. It also created a way to help the accounting stream so that all of the different payment methods can still be used, Kisel said.

The company is already working with 4,000 clients, and will now be fast-tracking their expansion, but will need the right people on board to help the company grow, Astreiko said.

Igor Shoifot, a partner at TMT Investments, said he will join Synder’s board after the company graduates from YC. He likes the simplicity of what the company is doing.

“Often the best solutions are economical, succinct and elegant — you can be onboarded in 10 minutes,” he added. “There is really nobody that really provides a similar solution that was that easy or didn’t require downloading or installing something. I also like their focus on growth, the fact they have no burn and they are making money.”

Synder’s business model is a subscription SaaS model that starts off as a free trial, and users can purchase additional services inside the platform to fit small and large companies.

Its more than 15 employees are spread around Europe, and the company just started hiring in the areas of marketing and sales in the U.S.

 

#ecommerce, #enterprise, #europe, #funding, #igor-shoifot, #ilya-kisel, #marketing, #michael-astreiko, #omnichannel, #recent-funding, #retailers, #saas, #startups, #synder, #tc, #tmt-investments, #y-combinator

Romanian marketing expert Robert Katai explains how to get the most out of your content

There’s a lot of advice out there on how to grab people’s attention, but there’s one aspect of marketing that Robert Katai thinks isn’t talked about as often: maintaining their attention. The solution, he says, is a combination of content strategy and positioning.

Based in Romania, Katai is known for his podcasts and speeches covering the gamut of content marketing. A product manager at online graphic design platform Creatopy, he also works with clients as a freelance content strategist, and it is in this capacity that he was recommended to TechCrunch via our growth marketer survey. (If you have growth marketers to recommend, please fill out the survey!)

Katai was recommended by multiple Romanian clients and contacts who vouched for his content strategy prowess, so we were curious to know more. Who is he? And is his advice applicable beyond borders?

The short answer is yes. In a freewheeling interview, Katai spoke about how content marketing should integrate with users’ daily lives, and how content can be repurposed across multiple formats. He also shared some insights on the booming Romanian startup ecosystem.

Editor’s note: The interview below has been edited for length and clarity.

TC: How do you help your clients as a freelancer?

Robert Katai: One of the two things I’m doing is that I’m helping clients with creating their content strategy based on their objective. You can get web traffic, but you can also create a message and build the brand. You don’t have to start at the beginning; You can rebuild the brand later.

For instance, I’m working with a Romanian outsourcing company that started in 1993. They pioneered this industry in our city of Cluj-Napoca, but lately they started to realize that they should be more attractive from a sales as well as from an employee perspective. So I worked with them to perform an internal audit to see why employees love the company, why they leave, why they stay and what they want from the company.

Robert Katai

Image Credits: Robert Katai.

From there, I got to the idea that they needed to reshape their brand to not just have people notice them but to also maintain their attention. And here comes the content: I started an ambassador program, because there are people outside of the company who love it.

I also recommended they create an internal print magazine. It’s a very well-designed magazine that their 200 to 300 employees can take home and read. It’s not just about the job; it’s also about their hobbies, things to do in the city and some thought leadership articles that can inspire them to have a better life.

What’s the second way you are helping clients?

Apart from content strategy, I’m working with clients on their positioning for their audience, community and market, but also sometimes in terms of employer branding. Content can be a bridge between the two ways I am helping clients, because I’m using a lot of content marketing here and not focusing only on performance or growth marketing hacks. I’m helping them understand that if they want to establish a memorable, long-lasting brand in the market, they have to make content marketing part of their life.

If they want to reposition themselves in the industry, they need to say: Okay, these are the kinds of content we have to create for our goals; who will amplify the content, who will connect with us, and who will consume the content. Today, content creation is free — everybody can do it. The hard part is how you distribute and amplify that. And here’s how I can help the startups: Make a big piece of content and repurpose it in several small pieces; get it in front of people so that the brand is on their minds.


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How can brands achieve that top-of-mind status?

We all know that there are four kinds of content: Text, video, pictures and audio. These four formats never die. The platform can change, but the format will stay the same. A video can be an Instagram Reel, a documentary or something else, but it’s a video. The same goes for a photo. So the content strategy I’m working with is how brands can use that content ecosystem.

When I work with my clients — and also with Creatopy where I’m a product marketer — I recommend them to use content to build their brand and be visible to their users every day in their feeds. Every morning, when their customers are waking up and checking their phones, they don’t open a newspaper. They will open Twitter, Instagram or Facebook, and maybe then when they get out of the bathroom and make coffee, they will open YouTube and connect with Alexa.

I really believe that brands should create content that can just be in the mind of the user. Snackable content, Reels, TikTok … It doesn’t matter what we call it.

You also talked about repurposing content. Can you explain that?

Let’s take the interview you’ve done with Peep Laja. You could have recorded it as a video. And he covered several topics, so you could have several short videos — 30 seconds, three minutes, whatever. You can publish them daily on your site or social media channels with a comment that says, “Here’s the link to the full article.” But remember that on LinkedIn, that link will need to go into the comments section, not the post itself.

You can also have a longer video that you can publish on social media or on Wistia, asking people to give their email — so now you also have subscribers.

Then the second type of content you can create is audio. You already have it from the recording. You don’t have to publish the full 45-minute conversation, but you can have a five-minute audio clip, and again link to the articles.

Now we have video and audio, but what if you also designed quotes with his headshot and messaging? If it’s part of a series, you should also give it a name.

And it’s not just motivational; it’s educational, too, so you should take these quotes and create carousels for Instagram and LinkedIn. The first slide should grab attention — it can be a question. The second slide can be a link to the interview so that even if people don’t click it, it will be on their minds. Then you can have slides with insights.

The last slide will always be a call to action: Asking people to share, comment or save it for later — it’s the new currency on Instagram! And once you have your Instagram carousel, you create a PDF and publish it on LinkedIn.

So now you have five formats of content from one piece of content.

Wow, how much do we owe you?! Just kidding, we actually do some of that for the Equity podcast, for instance. Now, what other advice do you have for startups?

I’m a big advocate of documenting the process. Just imagine if Mark Zuckerberg had done that and you could read how he launched Facebook and so on. Noah Kagan is doing that right now. I think startup founders should do it, not just from the PR and marketing perspective, but for their audience. Even if your audience is not paying for your product right now, they are staying with you and giving your brand an essence in the industry.

Just think about what Salesforce is doing right now: They launched Salesforce+, which is like Netflix for B2B. It’s to get the attention of professionals and also maintain it, and I believe this is the currency of the big companies today: People’s attention.

Do you work with any startups in Romania? And do you have any impressions to share on the Romanian startup ecosystem?

Yes, I help a few Romanian startups with their content marketing and positioning. Sometimes other startups email me with questions, so I help them, too, but I don’t charge for email advice. I work with the ones that are looking for a long-term or project-based collaboration.

Startup founders here in Romania are curious, and very courageous to experiment even if it won’t necessarily work. And Romanian startups are very smart. For instance, Planable is doing a great job with content, social media and positioning. We also have social media analytics company Socialinsider, which this year launched virtual events, and TypingDNA, which wants to get rid of needing to log in with passwords and was founded by a former colleague.

I also found that the founders here work harder than their teams and don’t just leave others do the work — at least the ones I have met. We have several startup events in Romania: How to Web, and Techsylvania here in Transylvania.

I don’t like this name, but people say that Cluj-Napoca is the “Silicon Valley of Romania.” Lots of startups have been launched here, but the city that is getting more and more traction is Oradea, where the bet on education is paying off.

(If you are a tech startup founder or investor in Cluj or Oradea, fill in TechCrunch’s European Cities Survey 2021.)

#brand-management, #content-marketing, #growth-marketers, #growth-marketing, #instagram, #marketing, #robert-katai, #romania, #social-media, #social-media-analytics, #social-media-marketing, #startups, #tc, #verified-experts, #youtube

Are B2B SaaS marketers getting it wrong?

Which terms come to mind when you think about SaaS?

“Solutions,” “cutting-edge,” “scalable” and “innovative” are just a sample of the overused jargon lurking around every corner of the techverse, with SaaS marketers the world over seemingly singing from the same hymn book.

Sadly for them, new research has proven that such jargon-heavy copy — along with unclear features and benefits — is deterring customers and cutting down conversions. Around 57% of users want to see improvements in the clarity and navigation of websites, suggesting that techspeak and unnecessarily complex UX are turning customers away at the door, according to The SaaS Engine.

That’s not to say SaaS marketers aren’t trying: Seventy percent of those surveyed have been making big adjustments to their websites, and 33% have updated their content. So how and why are they missing the mark?

They say there’s no bigger slave to fashion than someone determined to avoid it, and SaaS marketing is no different. To truly stand out, you need to do thorough competitor analysis.

There are three common blunders that most SaaS marketers make time and again when it comes to clarity and high-converting content:

  1. Not differentiating from competitors.
  2. Not humanizing “tech talk.”
  3. Not tuning their messaging to prospects’ stage of awareness at the appropriate stage of the funnel.

We’re going to unpack what the research suggests and the steps you can take to avoid these common pitfalls.

Blending into the competition

It’s a jungle out there. But while camouflage might be key to surviving in the wild, in the crowded SaaS marketplace, it’s all about standing out. Let’s be honest: How many SaaS homepages have you visited that look the same? How many times have you read about “innovative tech-driven solutions that will revolutionize your workflow”?

The research has found that of those using SaaS at work, 76% are now on more platforms or using existing ones more intensively than last year. And as always, with increased demand comes a boom in competition, so it’s never been more important to stand out. Rather than imitating the same old phrases and copy your competitors are using, it’s time to reach your audience with originality, empathy and striking clarity.

But how do you do that?

#b2b-saas, #column, #customer-experience, #digital-marketing, #ec-column, #ec-how-to, #enterprise, #marketing, #saas, #saas-marketing, #sales, #software-as-a-service, #startups

Using AI to reboot brand-client relationships

Marketing automation has usually focused on driving sales, mainly using past purchase or late funnel behavior (e.g., paid search) as a predictor of an imminent purchase. While effective at boosting sales numbers, this widely implemented strategy can result in a disservice to brands and industries that adopt it, as it promotes the perpetual devaluation of goods or services. Narrowing a brand’s focus only to aspects linked to conversions risks stripping the customer experience of key components that lay the groundwork for long-term success.

We live in a world rich with data, and insights are growing more vibrant every day. With this in mind, companies and advertisers can strategically weave together all the data they collect during the customer experience. This enables them to understand every inference available during customer interactions and learn what benefits the customer most at a given time.

But focusing exclusively on data collected from customers, brands risk falling subject to the law of diminishing returns. Even companies with meaningful consumer interactions or rich service offerings struggle to gain impactful contextual insights. Only by harnessing a broader dataset can we understand how people become customers in the first place, what makes them more or less likely to purchase again and how developments in society impact the growth or struggle a brand will experience.

Here’s a look at how we can achieve a more complete picture of current and future customers.

A critical component in re-imagining customer experience as a relationship is recognizing that brands often don’t focus enough on consumers’ wider needs and concerns.

Leverage AI to unlock new perspectives

Over the past several years, almost every industry has capitalized on the opportunity data-driven marketing presents, inching closer to the “holy grail” of real-time, direct and personalized engagements. Yet, the evolving toolset encouraged brands to focus on end-of-the-funnel initiatives, jeopardizing what really impacts a business’ longevity: relationships.

While past purchase or late-funnel behavior data does provide value and is useful in identifying habit changes or actual needs, it is relatively surface level and doesn’t offer insight into consumers’ future behavior or what led them to a specific purchase in the first place.

By incorporating AI, brands can successfully engage with their audiences in a more holistic, helpful and genuine way. Technologies to discern not just the content of language (e.g., the keywords) but its meaning as well, open up possibilities to better infer consumer interest and intentions. In turn, brands can tune consumer interactions to generate satisfaction and delight, and ultimately accrue stronger insights for future use.

#artificial-intelligence, #brand, #brand-management, #column, #customer-experience, #customer-service, #data-driven-marketing, #ec-column, #ec-ecommerce-and-d2c, #ecommerce, #marketing, #pinterest, #product-management, #social-media, #tc

Shipt’s new feature pairs members with their favorite, 5-star shoppers

Target’s same-day delivery service Shipt is launching a new feature that will pair customers with their favorite shoppers on future orders. This “Preferred Shoppers” feature will be available as a membership-only perk at no extra charge, offering customers a more reliable shopping experience, where more of their orders are directed towards people they already known and trust to do a good job.

The feature arrives at a time when the online grocery delivery market is booming due to the pandemic. But this market shift has also led to a number of newer shoppers joining the gig economy who don’t have the same level of experience as others. Today, you’ll come across some shoppers who excel at picking quality items, making great substitutions, and staying in close communication with their customers. Others, meanwhile, are checking out before you even have time to respond to their text about the product replacements they’ve made or the refunds they’ve put through. That can leave consumers feeling like online grocery shopping is an unreliable experience.

The Preferred Shoppers feature aims to change that.

As Shipt explains, customers who rate their shopper with five stars after their order is complete will be presented with the option to add the shopper to their Preferred Shoppers list. If the shopper accepts this request, they’ll be prioritized to shop for those customers in the future. (If the shopper declines, however, that won’t be shown the customer.) This list can be edited at any time, and if a customer downrates a shopper on a future order, they’ll be removed.

Image Credits: Shipt

The feature was developed in response to feedback from both shoppers and Shipt regulars, the company says. Consumers, in particular, had been asking for a way to be paired with their favorite shoppers who they already trusted to handle their orders correctly. But until now, whether or not that shopper would be available to grab the customer’s order was left mostly up to chance. The shopper would have had to see the order come in as it arrived, then grab it before someone else did.

During early tests, which included the Detroit metro, Shipt found the feature impacted its own bottom line and increased shoppers’ tips. Without providing specific metrics, the company said that customers using the feature would order more often and would rate their experience highly. Shoppers also benefitted because they were now serving customers who valued their work and who were expressing their appreciation with a larger tip.

“The more often a shopper shops for a customer, the more they learn about that customer’s wants and needs and are able to deliver a tailored shopping experience,” said Karl Varsanyi, Chief Experience & Product Officer at Shipt, in a statement. “Preferred Shoppers helps customers get the exceptional service they enjoy again and again,” he added.

The feature could also motivate shoppers to focus on building up a quality clientele, so they had a better shot at being assigned orders from customers they enjoyed working with and where they could expect to see higher tips. Over time, as customers add more shoppers to their Preferred Shopper list, the likelihood of being paired with a highly-rated shopper would improve, too. This could perhaps help to address some gig workers complaints over their work being undervalued, where bonuses are placed out of reach and customers are stingy with tips.

The idea for personal shoppers is not new. A startup called Dumpling has been developing a platform that allows gig economy workers to transition their clients off apps like Shipt and Instacart to a service where shoppers set their own rates and get to keep all their tips. But many consumers aren’t aware of Dumpling unless a shopper they know markets the service to them directly and usage of Dumpling isn’t free. In addition, while Shipt offers delivery from a number of top retailers, being owned by Target has other advantages. The service is now integrated into Target’s own website and mobile app, and Target products aren’t marked up on an individual basis, like you’d see on other services.

Currently, Shipt’s membership is $99 per year, offering free delivery on all orders over $35. The Preferred Shoppers feature will be made available to all U.S. members, starting today.

#e-commerce, #ecommerce, #instacart, #marketing, #merchandising, #online-shopping, #personal-shopper, #retail, #retailers, #shipt, #shopping, #target, #united-states

Instagram is ditching ‘swipe-up’ links in favor of stickers

Instagram is ditching the “swipe-up” link in Instagram Stories starting on August 30. The popular feature has historically allowed businesses and high-profile creators a way to direct their Story’s viewers to a website where they could learn more about a product, read an article, sign-up for a service, or do anything else the creator wanted to promote. In place of the “swipe up” call-to-action, Instagram users who previously had access to the feature will instead be able to use the new Link Sticker, the company says.

This sticker had been in testing starting in June with a small handful of users, the company said. But on August 30, it will begin to roll out more broadly.

App researcher Jane Manchun Wong first noticed the announcement which warned creators of the plan to shut down swipe-up links.

Instagram says it will begin to convert those who currently have access to the swipe-up link to the Link Sticker starting on August 30, 2021. This will include businesses and creators who are either verified or who have met the threshold for follower count. (While Instagram doesn’t publicly comment on this count, it’s widely reported to be at least 10,000 followers.)

The new Link Sticker has a couple of key advantages over the older “swipe-up” link.

For starters, it offers greater creator control over their Stories.

Like polls, questions and location stickers, the Link Sticker lets creators toggle between different styles, resize the sticker, and then place it anywhere on the Story for maximum engagement. In addition, viewers will now be able to react and reply to posts that have the Link Sticker attached, just like any other Story. Before, that sort of feedback wasn’t possible on posts with the swipe-up link, Instagram noted.

While there isn’t a change to who will gain access to the Link Sticker for now, Instagram says it’s evaluating whether or not to expand link access to more accounts in the future. The decision to expand access is one that has to be made carefully, however, as it could impact the app’s integrity and safety. For instance, if Link Sticker were to be adopted by bad actors, it could be used to spread misinformation or post spam. The shift to the Link Sticker is the first step in making it possible to broaden access to link sharing in Stories, if Instagram chooses to go that route.

Overall, the move away from a gesture to sticker is more in line with Instagram’s current creative direction, where interactive features are added to posts in the form of stickers. The new Link Sticker will join others already available in the app, including stickers for donations, music, and polls.

#apps, #businesses, #creators, #facebook, #instagram, #links, #marketing, #mobile-software, #social, #software, #sticker, #stories