#03_events

Wonderful to see everyone who joined the August Innovation Roundtable today. Big thank you to @Nathan Bucci @Brian Bohley and @Trevor Robinson for capturing highlights from each breakout group.

SUMMARY

• We voted, then discussed the top two topics.
• Key takeaways for each topic were:
◦ (1) Brand Building and Storytelling:
▪︎ Recognize the distinct challenges between building a brand from scratch and entering an established market
• When building a marketplace, balance addressing existing market interests with introducing new value propositions
▪︎ Craft compelling narratives that resonate with your target audience to attract high-quality leads
• Consider geographic challenges, especially with distribution and financing
◦ (2) Identifying Optimal Revenue Channels:
▪︎ Deeply understand your Ideal Customer Profile (ICP) to inform your marketing and channel strategies
• Personal experience with your target market can be a significant advantage
• Consider not just profitability, but also your preferences for working with certain channels
▪︎ Align your milestones with specific channel requirements
• Factor in customer retention and quality of service when selecting channels
• Some channels require a critical mass before they become effective, so timing is crucial
◦ General Insights:
▪︎ When pivoting, consider moving towards markets or problems you understand well or have personal experience with
• Avoid the "spray and pray" approach in marketing; instead, focus on identifying and targeting those who resonate with you and your brand
▪︎ Revenue channel selection involves multiple considerations and should align with your overall business strategy
• The choice of industry and vertical can significantly impact your success