In the early months, Stitch Fix did not have enough money to do advertising. This was a good thing. Start-ups today often have A or B round money to spend on demand generation ad programs. I like the idea of running a start-up without advertising – for a while at least. It puts employees and consumers in charge of marketing. Not agents. Creative directors, media buyers and English majors shouldn’t be responsible for new product success.
When there is no start-up ad budget, there are no false prophets. Just product and consumers.
Advertising is an accelerant to be introduced when the product is right. When the product meets pent-up demand. Ads, done well, are also expensive. Ads done poorly can also be expensive, by making the company look gooberish. Unprofessional.
Just as France has a moratorium on media 24 hours before an election, start-ups should have a moratorium on advertising for the first 6 months.
April 24, 2018 in Marketing
There’s a smart business development company by the name of Lead Forensics who recently did a demo for me. I had been through the demo a couple of years ago, but they are persistent marketers and I love persistence. Lead Forensics does a reverse lookup on visitors to one’s website and marries that to a […]
April 23, 2018 in Marketing
In one of Hilary Clinton’s campaign speeches on the topic of “playing the women card’ she uses a meme-able statement “Deal Me In.” She liked it so much she used it repeatedly in her Democratic National Convention speech. In context, it was a wonderful, powerful sentiment. It became a campaign theme and meme. A […]
April 20, 2018 in Marketing
Social Media is a great tactic for marketers. But how great is yet to be determined. There’s a famous quote from John Wannamaker who once said, and I paraphrase, “I know half of my advertising is working, problem is, I’m not sure which half.” If retailer extraordinaire Wannamaker says only half his advertising is working, […]
April 19, 2018 in Marketing
The hottest advertising topic of the day is digital ad privacy. Mark Zuckerberg brought his suit to Washington last week to answer questions about privacy before Congress and now those interested understand they can turn privacy settings on. Where and how to do it may be a bit of a slog, but at least they […]
April 17, 2018 in Marketing
When I ask new clients “What is your product strategy?” I get a funny look. Typically, they respond with something like “Make the best possible product, meet the specific needs of the customer, and provide it with a level of service the exceeds their expectation.” Or some such goulash. Even service companies will use similar […]
April 13, 2018 in Marketing
Kylie Jenner’s makeup sold $420 million in 18 months with minimal advertising beyond her Instagram posts. Her lip kits and eyeshadow palettes, at one point, retailed for $27 and $42 respectively. At a street fair on Long Island teen girls were falling over themselves to buy the stuff. The police showed up after a while, […]
April 12, 2018 in Marketing
“According to several studies, showing or simply feeling gratitude has mental health benefits, including promoting a happy frame of mind.” The New York Times, Of Interest column, 4/12/2018. As I think about all the brand strategies I’ve written, I’m hard pressed to come up with a claim and proof array that ties to gratitude. […]