Link to the webinar.
Super insights by Sunil Nair.
- Marketplaces give the reach and visibility but also keep the customer ownership with them (along with compromising on margins). They are optimising for selling "some" product and not necessarily "your" product
-Spending money on ads give results in the short term but those customers tend to have lower LTV compared to spending money on building a community that is long term but helps in acquiring higher LTV customers
- Community is the evolved focussed groups to enable conversations and eventually sell to highly engaged people. Generally takes 6 to 9 months of cadence to share content and bring people regularly to one place
- Building for a swipeable generation: short vertical videos for content + on-site buying experience (evolved from horizontal to vertical video consumption with lower attention span)
- Leveraging live streaming as an emerging medium to sell (metric to track: add to cart/ people on stream)
- Customers are intelligent, they see through what is being told. Being honest + sharing stories enable trust. The founder is the biggest ambassador of the brand (even over professional anchor) given the knowledge for products and deep empathy for customers
Content example for a home decor/furniture brand:
- a type of furniture + decor that goes well for a family with kids of a certain age
- showcasing customer's home with your products (enables more trust > ad with influencer)
If you are an early-stage (or aspiring) founder, worth following Pushkar Singh for his posts on startups and fundraising.
disclaimer: am not related to any of the brands mentioned in the webinar. this is just a small act of paying it forward hoping it will help the founder build a strong DTC brand