PJW: Tell us about big wins and big learnings you have had since setting up?
The single most important thing I have learned from setting up a startup is to fail fast and generate sales as quickly as possible. You can quickly validate your offer by finding out if anyone is willing to pay for it. There is a temptation to want to continue to refine your offer before you take it to market, yet there is so much value in getting your product or service to market quickly, so that you can learn what your clients really need.
When raising our pre-seed investment, we thought that we had found product market fit, but the more sales we did the more we learned exactly what clients needed. For example, we initially focussed on the sourcing of content for clients and would provide them access to all the raw files received from their customers. But we noticed that our clients were overwhelmed with the amount of content generated and lacked an understanding of what to do with it. This meant that we decided to pivot the business to not only focus on sourcing content but also deliver the final video assets that would be shared in the digital channels and become experts in what content performed best and how to curate that into a multitude of formats from social, programmatic, DOOH (Digital OOH) and many more.
PJW: Do you have anything else you want to add?
A key factor in the success of Stitcht is our ability to educate the market that something new exists. It’s easy for brands to deploy creator and influencer-based strategies because they have greater control, and it can be fairly quick to deploy. However, while this content works well at the top of the funnel, as consumers explore a brand, seeing content that speaks to the diversity of the community, their customer needs and believable genuine customer stories around the brand will do more to increase acquisition, engagement, and loyalty in the brand. We’re really excited about the opportunity to partner with Carat and work with Carat brands to bring genuine customer content to exciting campaigns and build customer content into a brand’s content marketing strategy.
Finally, here are some examples of content we have created featuring genuine customers who have replied to our clients via our threads.