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You don’t need a better product to succeed in D2C
Brand innovation doesn’t happen overnight and just like ‘going viral’ is not a strategy. Focus instead on creating a useful product for your target customers and continuously talk to/ engage them. As Paul Graham (of Y Combinator) says: it’s better to have 10 customers who love you, than a 1,000 customers who kind of like you. So look for those 10 c... See more
Imad El Fay • You don’t need a better product to succeed in D2C
Convenience is important, but at a certain point, more convenience does not mean better experience. So, don’t chase real-time delivery or 24x7 customer service, focus instead on solving the customer’s most urgent pain points across the purchase journey.
Imad El Fay • You don’t need a better product to succeed in D2C
When it comes to pricing, your product should be cheaper than high-quality alternatives (people love telling their friends about a new, cheaper, product they discovered). However, your unit economics need to make sense: Don’t sell them a 1$ product for 50 cents!
Imad El Fay • You don’t need a better product to succeed in D2C
Most companies build a product and then look for customers to buy this product. Brand innovators build a customer base and then develop products to sell it to them.
Imad El Fay • You don’t need a better product to succeed in D2C
You don’t need a better performing product to gain market share. Focus on improving a few features and start catering to an early niche. Iterate and improve as you grow.