GROW reposted this
Had the pleasure of attending the Grow NYC Conference recently (great booths from a few of SuperAngel.Fund’s portfolio companies: Status, PostPilot, and Revenue Roll). Below are some takeaways from the incredible speaker panels that I attended: Colleen Johnson: ▶ Partnering with a complimentary brand and selling their items on your website (and vice versa) can be a great customer acquisition strategy. For example, BlendJet® sells protein powders like KOS and Sunwarrior on their website...and when orders come in, the brands do the fulfillment. Kelly Murphy & Jen Gray: ▶ If you are a subscription business…think beyond just “how can I get another subscriber?” but reframe this to “how does my product fit into my customers daily or weekly routine…and what can I do to meet them there?”. Doing this will allow you to create products/ versions of existing products that better fit into people’s lives. Cody Plofker & Varun Kundra: ▶ Analyzing shopping carts to see what people are buying together is essential to effectively upsell. For example, recommending a cucumber scented deodorant at checkout if a customer has that same scent body wash in their cart is a great strategy. This pointed tactic significantly increases conversion and ultimately AOV. Rick Cadotte ▶As a consumer product company, you don’t need a sophisticated and expensive tech stack in the early days. If you have something that is working well, software tools can make it work really well. But, software tools will not be what makes the product/ service perform well in the first place. Nail down the product and business fundamentals first, and then start to invest in technology to improve operations Michelle Song & Tony Tran ▶Relationships are the only thing that are recession proof, and something that AI certainly cannot replace. David Baker, Jordan Sack, Michael Epstein, & John Hickey ▶If you want a relatively inexpensive marketing channel (w/ a high ROAS) and the ability to effectively cross sell products, give direct mail and PostPilot a try!
Great meeting you!
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Thanks for the insights Ryan McGarvey
Wow! Great stuff, thanks!
Producer at Superdigital™
2moSuch interesting takeaways — thanks for sharing!