Four Tips for Thinking Like a Startup
By ANA Staff
Many big brands are struggling to keep up with the pace of change that the digital transformation has brought about. Meanwhile, startups are popping up throughout the marketing landscape. These small and agile companies are developing innovative products and services, using technology in new ways, and growing fast.
How are startups navigating the wave of change so readily, and what practices do they employ that big brands can benefit from? Here are four tips for embracing the startup mindset.
- Stick to your roots. Airbnb, the digitally native hospitality company, was facing slow awareness and consideration growth. To build the business, the brand needed to broaden its market beyond its core audience of early adopters and adventurous travelers. In its “Don’t go there. Live there” campaign, Airbnb was able to stay true to its status as a hotel alternative but simultaneously connected with a new cohort: risk-averse customers and older generations seeking the comforts of home while traveling. Read the detailed case study of the award-winning campaign.
- Blend technology and humanity to create a positive customer experience. Boxed.com, a mobile-first wholesale club, used data to serve its millennial customer base an exceptional digital experience. Despite the company’s tech-forward strategy, Boxed.com included personal touches in product shipments, such as handwritten notes or fun instructions for turning the cardboard box into a child’s castle. Such courtesies helped Boxed.com marketers uphold the brand’s purpose: to deliver joy. To learn more, read the recap of the CMO’s presentation at the ANA’s Shopper Marketing Members-Only Conference.
- Make startups part of your strategy. Large companies often seek to be as agile as startups, but internal bureaucracy can slow down decisions and innovations. CEO and Co-Founder of Evol8ation Joe Jaffee encouraged marketers to partner with up-and-comers in their brand’s space. Because startups are often in need of funding, the relationship can be a win-win dynamic if the right partnership is formed. Learn more about brand collaboration in Jaffe’s Innovation Day Members-Only Conference presentation.
- Don’t fear failure. Big brands are often risk-averse. While sticking with the status quo may work for now, that strategy could become a downfall as technology, consumers, and the world change rapidly around us. DoSomething.org takes risks and embraces failure as part of its culture. The nonprofit startup invites employees who have self-nominated or have been nominated by their managers to present at the company’s Fail Fest, an event held every six months. Each nominee shares the story of a failed project, three personal learnings from the experience, and three learnings for the company. Watch CMO Aria Finger speak on this and more.
Source
"Four Tips for Thinking Like a Startup." ANA, 2018.