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Global Marketing

Is global luxury brand management worth the money?

2

Answers

Dan Lok

The King of Closing™

There's a lot of money to be made in the luxury space, but you need to bring something unique to the marketplace. That means studying BEYOND that just what you learn in school.

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Lee von

Unique Insights, Creative Solutions

You answered your own question yourself. You need some kind of, "data such as adwords conversion rates, cold calling success rates and things like this which would back up your claims" Without any kind of data which you've collected on your MVP, you can't make any statements on growth potential that any investors will actually believe. Without data you're just pitching an idea. While good ideas are needed, the investors need to see that _you_ are the right person to make and sell your idea successfully. You need your own personal data on your own MVP to prove that. You can't just say, "these smart guys from company Y were able to do X growth, so that means I'll get X growth too".

Shaun Nestor

Content Marketing Advisor & Agency Consultant

Are some of your friends online marketing experts? Do they study the trends and understand the dynamics of content creation? I am guessing your friends read a ton of fashion blogs, they just don't know it. The short version of the advice would be: use your WordPress blog as the hub of your entire online presence. Then use the social platform of the week to build and connect with your audience, and give them reasons to come back to your site. Whether this is SnapChat (stories, filters, etc), Instagram (featuring highlights of a fashion shoot, etc with more details on your .... you guessed it: blog), or Facebook teasers with links back to your site. Nearly every major content producer understands the importance so maintaining your own platform (your blog, in this case). Social media trends change, the ability to access your audience changes (Facebook is always changing their algorithm, and rarely in favor of brand pages), there will always be a new Snapchat, Pinterest, Instagram, etc .... but when you control the main hub, your website, you can stay connected to your audience much more efficiently over time. Your assumption is correct: use social as the "spokes" that lead visitors back to your hub. -Shaun P.S. If you want to discuss more in detail, I would be happy to help. Just book a time that is convenient for you and we can go over exactly what your next steps should be.

John F.

Authentically Interested in Digital Marketing

Have you thought about suggesting existing Customer Relationship Management (CRM) platforms? While they all have learning curves to tackle, they will still surely be time savers compared to starting from scratch. I'm a big fan of Infusionsoft and a Certified Partner but if a robust solution like that is too big for your needs then there are others like Hubspot CRM or even Insightly. They each manage contacts like a boss however they will each also have certain pros and cons that you'll want to research for your specific needs as well.

Dr. Shishir

Angel Investment, Venture Capital, Idea Validation

Revenue alone will not depict the traction. US is a huge market and highly competitive environment for business exists there. A detailed analysis is required to recommend the appropriate amount of funds required. I would encourage you to set up a call with me to do it professionally.

Joseph Peterson

Names, Domains, Sentences and Strategies

How to monetize your blog? There are all sorts of ways, all of which entail their own challenges – paid advertorials, banner ads, contextual PPC ads, pre-packaged affiliate programs, negotiated sponsorships, etc. Now, listen; don't take this the wrong way, but not everyone will be smitten by the brand name "The UNXPSD". As things stand, I find it a bit unwieldy, since any time the site is mentioned in conversation – i.e. without a visual – it involves a cumbersome explanation about spelling. That does inhibit word of mouth growth, which ultimately holds you back. The creative misspelling may also be an obstacle for sponsors and customers. Some will like the style, but some will see it as "cutting corners". So I can't help wondering if this will lower your chances of attracting sponsorships and advertorials. Obviously this is no reflection on the quality of what you're doing, content-wise. But books ARE judged by their covers. I'm not necessarily suggesting that you ought to rebrand. But it might do you a world of good to obtain the naturally spelled domain name and forward it to your website. That way, there's no longer any concern if people don't "get" the weird spelling. It's not uncommon for startups to begin with deliberately misspelled brand names, since this enables them to find a cheap domain. Likewise, it's not uncommon for the more successful brands to circle back later and buy the "upgrade" version. If you eventually decide that this may be worth pursuing, I can help you save time, effort, and possibly money – either advising you on how to proceed or even negotiating a domain acquisition on your behalf. Domain names are what I do professionally. So your situation – with all its pros and cons – is a common situation for entrepreneurs to be in.

Lee von

Unique Insights, Creative Solutions

Option 1: Generally when you're first testing out an idea, you want to build a first functional prototype cheaply and quickly. The easiest way to do this would be to use existing tools that facilitate what you want to do. For instance, you could make a web-based version (which you could embed in an app too if you want) using Marketify, as described here: http://goo.gl/2kSkUm. ---------------------------------------------------------------------- Option 2: If you want to skip straight to investing a lot of time and energy into testing the idea, then you'd want to find, or be, a developer for the platform of choice. Either iOS, Android, or React Native (both iOS and Android). Find someone that has experience in databases (would be needed for saving profiles, products, etc.), or, if possible, in marketplace type apps. Whenever you assign them a task, break down the task into small chunks. Make the chunks as small as you can (within reason, and to the extent that your knowledge allows), and tell your devs that if any chunks seem large, that they should further break those chunks down into bite size pieces. For instance, for the overall task of making a new webpage, _you_ might break it down as follows: 1) Set up a database 2) Make a form that takes user email, name, and phone number and adds them to database 3) Have our site send an email to everyone above the age of 50 each week When your devs take a look at it, _they_ might further break down the third step into: A) Set up an email service B) Connect it to the client database C) Figure out how to query the database for certain users D) Have it send emails to users over 50 You can use something like Trello to assign tasks and keep track of progress. In Trello you'd set up 4 columns titled, "To Do", "Doing", "Ready for Review", "Approved" (or combine the last two into "Done"). Then pay them and track their progress.

Shaun Nestor

Content Marketing Advisor & Agency Consultant

Yes, my agency uses 4-5 freelancers at any given time. We create marketing and social strategy plans for freelancers, consultants, and experts. I'm happy to connect, if you'd like. Best of luck, -Shaun

David C

I help you buy, sell, plan, value a business

Hi there, I know this can be a frustrating problem.. I've been on Clarity since 2012 when its creator, Dan Martell, invited me and several others to the launch event and asked us to sign up as experts. For the first few years, I had hardly any calls. Also, it seemed like only those in the IT startup space were getting any traction. This was frustrating for a small business advisor like me who mostly works in the world of bricks and mortar. Things started to change for me after a few key things: 1. I started to drive my own 'tribe' to call me on Clarity. This increased my reviews and call stats on the platform and I believe this made my profile more attractive to Clarity 'native' traffic. 2. Clarity has been growing its reach. I'm meeting more and more callers who are not in the 'online startup' space who found me on Clarity. 3. More and more of the 'online startup' people are actually creating real businesses and have real business problems that I can help with... meaning they're actually having sales, organizational problems, partner concerns, etc.. not just chasing Angel Investors with their ideas. 4. I started to regularly check for public questions I could answer and I know this has led to several calls. I hope this helps, If you'd like me to review your Clarity profile and give some specific direct feedback, just arrange a call. Thanks David www.DavidCBarnett.com

Brian Seim

The DEV Team Coach

I'm a developer of over 20 years experience and I've been building relational databases the whole time with varying degrees of normalization. I like it best when the problem is given to me as you stated above. From your statement, it seems like you are trying to design the database. Instead, you hired a developer, and that is what they do. Have him or her design the database. Give them all the information you have and answer all their questions in a timely manner and you'll get what you need. I'm not sure of your area of expertise or the relationship with and faith you have in your developer, but I would provide him the information from your question above. From that he/she should fire back a bunch of questions to you such as: 1. does every product require every choice? 2. Can a product have multiple options for a given choice? 3. Are the options for choices different dependent on the product? 4. Is there a higher level to consider of product categories? ... I think you get the idea. Using this dialog can help you both think of concepts or situations you both have missed and provide you with a more robust solution. I'd be happy to get on a call with you to discuss this further but it sounds like you have everything you need except maybe confidence in your developer(s). Best of luck.

Scott Colenutt

Clarity Expert

Here are some things I would try. 1. LinkedIn Advertising. Why? Because it seems like your app is designed for a very specific type of person and on LinkedIn you can target users with ads by job description (amongst other things). In short, if you've got a pretty good idea of the job titles, skills, industries your target audience is in, LinkedIn might be a good option. You could send users to a company page (where you register interest in a product). Build your network (by building up your audience on LinkedIn). Or send users to a dedicated landing page where they can download the app/register their interest. 2. LinkedIn Group Discussions - Find and sign up for groups on LinkedIn relevant to the app you're considering - Propose the solution you're considering testing - Ask people if this sounds like something they would be interested in - Ask for beta testers to sign up (by emailing you or to a mailing list) 3. Facebook Ads. This approach would be similar to the LinkedIn Advertising. Set up a simple landing page (using something like Unbounce or Leadpages) or whatever you have access to, create some niche audiences using Facebook ads and see what happens. 4. Podcast shout out. Look on iTunes for a podcast related to your audience/industry. Set up your landing page. Pay the podcast a small fee for advertising/referencing your service and give listeners an exclusive discount. 5. Twitter ads. Same as Facebook/LinkedIn but with Twitter. You might want to use the "lead gen" option to collect email addresses and then go from there. If there are common keywords that people in this industry are likely to put in their bios or reference in their timelines, you can use a tool like Followerwonk to build a niche targeted list of 100 users to target with advertising on Twitter. 6. Reddit could work. You'd follow a similar process to that noted above but instead of finding users on Facebook, Twitter, LinkedIn, you'd have to spend some time finding relevant SubReddits to post in. 7. Google Ads. If there are specific, niche keywords people use in this industry you could set up a landing page and then send traffic via AdWords. The key would be making sure your keyword research is super tight. You might just want to use exact match keywords for a campaign of this nature. 8. If you have them already, message your LinkedIn connections. Ask them if they would be interested in the product you are offering and if not, would they have any recommendations for people who might be interested. You can connect with the people they recommend on LinkedIn, or just ask for a bit of word of mouth support. 9. Meetup.com If it helps to keep things small scale, maybe you could go local. Use meetup.com to find groups that are relevant to your audience. Attend their event. Demo your product/service and see if anyone will buy or is interested in testing. This is a really useful way to get direct feedback. 10. Target followers/users of any competitor products. You can do this in most of the advertising platforms noted above in one way or another. You can also do this on Twitter. -Find a competitor account. -Put their Twitter account name in the tool Followerwonk - Download their follower details - Go follow and engage with some of their followers - See if you can build up a small audience who you already know are paying for something similar to what you've created 11. Another Twitter option. - Download Tweetdeck - Set up a column that filters by keywords related to your product,service,app or industry. If anyone shows any indication they might be looking to buy a product like yours or maybe you can just help them in some way, start Tweeting them. Costs you nothing but your time on this one. Hope these ideas help! Good luck with your app!

Jeremy Gregg

3-time TEDx speaker. Nonprofit Guru. $40M+ raised.

Can you provide more details? Who is your target - age, gender, geographic location, etc?

Dr. Shishir

Angel Investment, Venture Capital, Idea Validation

You can search Google for a list and then I can help you in developing a strategy for data extraction and rest of the process. Let's setup a call.

Flt.Lt. Sridhar

Start up mentor and speaker

The biggest challenge is not finding money but finding viable livelihood options for the poor. I suggest you study Prof. Yunus work. First work with the poor and let them come up with local opportunities for generating income. Take a few viable cases and fund them. Once these ventures are viable, you have a proven business plan for the investors. Why investors? You may even go through the regular banking system. Your margin will be what you charge extra above the lending rates. VC funding will put extra pressure on you to charge very high rates and it can be regulated by the govt, as it has happened in India. Such high rates also defeat the core purpose of your business. All the best.

Ryan Rutan

Founding @Startups.com, Clarity, Fundable and more

Keep asking great questions and focusing on fixing the issues and you'll get there! Video needs some innovation to become more accessible - you're on an interesting path! Upon visiting the site - I'm not surprised that this is an issue. You are doing very little to illustrate how your product delivers value - and oddly, there is no explainer video - which for a company that produces marketing video, seems like not only an obvious move, but a requirement. You need to go beyond benefits and talk about the value, but also tie it to how you create it. Not suggesting any of the below as actual copy - just illustrating: "The marketing value of video is huge - but producing video is time consuming and expensive. We've made it easy by producing the video for you - all you have to do is pick the one you want, add text, a logo, and your call-to-action and you've got a ready-to-upload video in minutes." I'm sure you can improve upon the wording - and I may be off on exactly how it works (since we've agreed that the site isn't telling us that) - but I think you can greatly improve conversion and interest in the product with something similar. If you'd like to walk me through the product I'd be happy to provide more specific feedback once armed with the facts.

Brandi Edwards

Digital and Content Marketing Strategist

The number one thing to do is to make sure your email template is mobile responsive. If you are using a mail service like Mail Chimp, that work is done for you. But if you are using a CRM that requires you to create the template, you want to ensure it is designed for mobile. Gmail can be especially tricky with responsive. Here is a great tutorial that goes over designing for Gmail: http://webdesign.tutsplus.com/tutorials/creating-a-future-proof-responsive-email-without-media-queries--cms-23919. But if you don't have someone on staff that does your web/email design and you're technologically challenged...this is definitely something to invest some money in a good template for. Second, for email copy, you want to keep it short and your calls to action, near the top of the email. Think about how you personally read email on your phone...having to scroll down through an email, after a few scrolls, you stop and move on. Make sure you get your point across early so that people don't move on past your key message. All graphic emails and short infographics also do well on mobile. I love this website for inspiration for short or graphic emails: http://reallygoodemails.com/ Third, take advantage of the preview text in your email. Preview text is the snippet of copy pulled in from the body of your email and typically displayed underneath the from name and subject line in a subscriber’s inbox. You want to grab people's attention here so that they open your email. Here is a great article on taking advantage of this text. https://litmus.com/blog/the-ultimate-guide-to-preview-text-support

Gregory Karpinsky

Expert in Multilingual WordPress websites

The procedure of creating multilingual sites in WIX is quite complicated, as described here: https://www.wix.com/support/html5/article/tutorial-creating-a-multilingual-site Should you decide to drop WIX and move forward to WordPress, you can use the WPGlobus plugin. Everything is much easier there.

Rob Bickford

Mr. Bickford is an expert consultant

Crystal balls are never as crystal clear as we would like when peering into the fortunes of the stock market. I've worked in the market for more than 35 years and can tell you no one truly has the answer to this question. I'd be happy to talk to you about my views and give an overview of the current market valuation and factors that could create more volatility in the coming months.

Ryan Rutan

Founding @Startups.com, Clarity, Fundable and more

Conversion at the page level is often impacted by who is showing up - and could be indicative of a mismatch between the ads you are running, the audience they attract, and the messaging on the landing page on arrival. You're also asking for both a phone number and an email address - while offering very little information in return - like what cities this is available in - what it costs - how long it takes, how it's different / better than other services in this same vein. Consider narrowing the focus of your ads down to a single city, and then customize the lander to include challenges specific to that city that this would eliminate (the long Saturday lines at XYZ Market - traffic on the crosstown etc) and reference brands and stores they'll know. The more you can make the landing page a reflection of your user and the problem you're hoping to solve for them - the better. Right now, it's not reflective at all - leaving most details to the imagination. Once you've dialed in on the approach in a single locale, you can expand your campaign by repeating the process (still customizing per market). I hope this helps.

Rob Bickford

Mr. Bickford is an expert consultant

A $5 Billion purchase by Verizon is hardly what I would call a "collapse".

Ryan Rutan

Founding @Startups.com, Clarity, Fundable and more

I'm in no position to advise on the cost of a Tinder-like app - having never used it myself. I can however share some thoughts on Freemium. Freemium is too often engaged because it is easy - not because it is right for the business. You'll still need to determine how'll you make money, even with freemium, so it isn't an escape hatch from figuring out monetization - knowing how you'll make money from the beginning is critical. Check out this video by Dan Martell: http://www.danmartell.com/4rulestofreemium/ I'll summarize the decision points around freemium below: 1. There are 10M+ users in your market. 2. Free distribution will give you a competitive advantage. 3. You have a simple value proposition and process. 4. The marginal cost to service additional customers is near or equal to zero.

Louis Monoyudis

Digital E-Commerce Marketing CPG, Luxury Fashion

Quality control is always a concern when working with an overseas vendor, and I can only imagine your frustration with the samples you have received. My advice having sourced from China and many other countries is that you need a person on the ground to make sure your expectations and specs are being met, so see if you can find an agent (not associated with the factory) to work on your behalf to save the time, cost and hassle of having to fly overseas. That said, unless you are at a scale where it makes sense, I have found over the years that it ends up usually being cheaper in the long run and much more efficient to produce domestically if you can. While overseas pricing can seem a lot cheaper on the front-end, if you run into issue (like you have), the savings end up evaporating. Hope this helps, and happy to jump on a call to talk in more detail.

David Favor

Fractional CTO

Talk with the folks at MyUS.com about your situation. Likely they'll be able to provide a simple + cheap way to handle this. And... overseas shipping is always expensive, so depending on your product, profit margins may not allow selling through overseas Amazon organizations.

David C

I help you buy, sell, plan, value a business

Hi, what a great question. Ever since my best-selling book, Invest Local, came out in 2014, I've been getting lots of Clarity calls about raising capital for small business. You haven't specified if you are looking for debt or equity financing. Let's discuss both. Equity: The investors you've spoke to are likely 'accredited.' This means they can make any investment they choose with their money because their net-worth makes them exempt from securities laws. They're right. Your deal is too small. In order to be interesting to investors who want a diversified portfolio, you need to find a few very small investors. This means they won't likely be 'accredited.' So how can you sell them shares without breaking the law? You need to use another exemption if you don't want the hassle of creating a proper prospectus. This means friends, family and business associates. This is sometimes called 'Love Money' because it comes from investors who are supposed to love you. Check with your provincial securities regulator about the 'capital raising exemptions' as there are some subtle differences between the provinces. You may also wish to use what's called an 'offering memorandum' which is a lite version of a prospectus. In some provinces you don't even need audited financials for an offering memorandum. Debt Financing: Borrow the money, but if this is a startup, forget about the bank unless you can personally secure a line of credit with your credit score and net-worth. Some alternatives do exist, for example, you can sometimes get an advance against a purchase order from a factoring company if your customer is solid. Most entrepreneurs who need this level of capital will put up personal assets as collateral, such as getting another mortgage on their house or pledging assets such as stock portfolios. If you don't have any assets to serve as collateral, consider doing a combination of debt and equity financing, find a partner and give them equity in exchange for them guaranteeing the loan or putting up collateral. Government programs also exist. For example the SEED program will lend $20,000 to new business ventures and it is offered via different economic development agencies across Canada. Here is a video I did last year about courting small business investors: https://youtu.be/w0pJN4QB6Jk If you want help or wish to discuss your case in particular, please arrange a call on Clarity. Thanks David C Barnett

Jeremy Gregg

3-time TEDx speaker. Nonprofit Guru. $40M+ raised.

I think a better question is: would you consider taking a free call once per month for a charity leader who could not otherwise afford to speak with you? Clarity could make a huge impact on the nation's +1 million registered charities by providing such a program.

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