Our series Lessons from Startup Culture focuses on the ways in which startups have changed the business landscape through the necessity of innovation and outside-the-box thinking. While many larger companies face different challenges, there is still a lot to be learned by examining how small businesses navigate product design, branding, and marketing on a limited (often nearly non-existent) budget.
In this installment, we’ll explore the marketing strategies that pioneering startups have developed in response to emerging social media landscapes and out of a need to build name recognition and introduce new products to their target markets. Continue Reading
In our contentious political and social climate, most brands choose to play it safe and advertise their products without engaging with any issues that may alienate a portion of their consumer base. Not so with Gillette, which recently released an online ad titled We Believe: The Best a Man Can Get that courts controversy by invoking the #MeToo movement, toxic masculinity, and bullying (among other hot-button issues). The ad, which provoked a firestorm of competing editorials and news coverage, has placed Gillette at the center of an ongoing debate about social messaging from brands.
A lot has been published about the ad’s message and the public’s response. What I’d like to examine is the risk vs. the reward of socially-engaged brand content and how brands are creating a new playbook for effective social messaging. Continue Reading
In our recent blog, Lessons from Startup Culture: Learning from a Minimum Viable Product, we examined how “the creation of an MVP itself isn’t the revelation – it’s the ability to learn and adjust based on the customer response that results.” One of startup culture’s strengths has always been the ability to take a big idea and pursue it, iterate it, or change it completely in the search for an end product that resonates with consumers.
In this way, successful startups have redefined failure as a pivot point instead of an end point. For larger, more “traditional” businesses seeking agility, there’s a valuable lesson to be learned. Continue Reading
The New Year is a time to reflect over the progress we’ve made in the last year and prepare ourselves for the opportunities and challenges of the year ahead. With all of the uncertainty and volatility in our news cycle, it can be tough to narrow our focus. I find that setting simple, achievable goals helps make even the most “unsolvable” problems seem within reach.
With that in mind, I’d like to close out the past year and begin the new with a simple question: How can we do better in our sustainability efforts? Continue Reading
In our first installment of Lessons from Startup Culture, we examined the importance of building a solution, not a product. What’s the difference? Many smart people have exciting ideas for new products but fail to consider whether there is a market need for that idea. In fact, 42% of startups fail because of a lack of market need for their flagship product, CB Insights reports.
A solution, on the other hand, is created based on need: entrepreneurs identify a problem that real people have and build a solution that those people will pay to implement. Here is where one of the most brilliant facets of startup culture comes into play. With limited funding and a short runway to validate their ideas, many companies begin their journey by creating a Minimum Viable Product (MVP). Continue Reading
Richard Edelman, a leading expert in public relations and marketing, recently gave a speech at the University of Notre Dame addressing the crisis in consumer trust. His firm, Edelman, is a long-standing chronicler of consumer trust in institutions including business and government (we’ve covered past Edelman Trust Barometer results on our blog). In 2017, their global survey found that “trust is in crisis around the world” with trust in media and government reaching record lows since before the Great Recession of 2008.
The results for 2018 offer little hope for rebounding from the previous year. The most recent Trust Barometer “reveals a world of seemingly stagnant distrust” as “people’s trust in business, government, NGOs and media remained largely unchanged from 2017.” What the survey does offer, alongside Edelman’s recent remarks, is a potential way forward for those companies seeking to re-earn and re-establish the goodwill of their consumer base. Continue Reading
Startup culture is here to stay. Entrepreneurs and innovators have remade the business world in their own image over the past few decades as technological change rapidly advanced and “traditional” businesses struggled to keep up. Even once they’ve made it big, the companies these visionary CEOs started continue to live by the scrappy startup ethos that is baked into their DNA.
What separates startup culture from the traditional business practices it is challenging? What lessons can those of us in more traditional working environments learn from the success of startup culture? I’ll be looking at those questions and more as we explore lessons from startup culture. Continue Reading