Success Wear Sneakers
The Evol8tion team attended Success Wears Sneakers to find out why big brands should take notes from bold startups. The event, hosted at Vivaldi Partners Group headquarters, allowed the team to mingle with brands and meet new startups. The pinnacle of the night was the stellar panel composed of Maryann Bekkedahl (Keep), Liz Wald (Indiegogo), Andrew Lin (Caviar), Mona Chaudhuri (Chartbeat), Chris Paul (Squarespace), and Marie Cosnard (Happn.) Here are the high points from the discussion!
Follow the data! Large brands are addicted to using data to gather insights, but don’t move quickly enough to properly use the information to their advantage. When using data, brands need to perform like startups. Brands must “find a metric that matters” and pivot how they address everything encompassing that metric instantaneously. Teams within the brands must be given the autonomy to pivot quickly and take advantage of trends or unexpected data points.
There is nothing more obvious than the obvious. Chris Paul told a story of a company that only wanted to reach customers interested in a particular brand. The company used countless digital marketing strategies targeted at customers based on data algorithms. The algorithms were not accurately predicting customers. Until one day while working with a startup the company had partnered with, a member of the startup asked “why don’t you just ask customers if they like your brand? This simple question brought the brand the consumers it was looking for. The point of the story? Brands need to interact and engage with consumers because consumers want to engage with brands. The days of speaking at customers are over! It’s not rocket science. It’s common sense.
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