During my period of study abroad I've launched a startup as one of 3 amazing co-founders, developing a modern web
platform for influencer marketing.
Our goal was modernizing the relationship between social media creators and brands.
My role in the team was analysing the market feasibility of the project, define innovative strategies and ultimately
design the user experience of our services and product.
Problem definition
Skills and tools applied
Figma
Data visualization
User feedbacks
Charting libraries
One of my colleagues had been working in the marketing and advertising industry for several years, particularly in close contact with content creators.
Noting the difficulties of communication between brands and influencers he decided to come up with a more effective solution, one that could leverage digital tools and ease the steps required for brands to market their products through influencer marketing.
With his expertise we started analysing the actual market need and possible solutions of this challenge.
Market analysis
Skills and tools applied
Trend analysis
Problem statement
As a first step we decided to analyse market trends and the actual space in the segment.
Although market data are not always easy to come by, nor provide an ultimate source of truth it was interesting to note how the market expanded and was expected to grow in the next years.
After this initial step, we set out to look for the competition in the market and find new insights.
We realised that the major investments in the influencer marketing industry were mainly between big corporate brands and extremely popular content creators or influencers, which have millions of followers on their social media pages.
This kind of collaborations comprised the production of sponsored contents or advertising from the influencer, in exchange of a high monetary compensation from the brands
Two main problems emerged from this analysis:
- Brands would have to pay top dollars in order to reach top influencers
- Top influencers tend to underperform in terms of engagement with their followers
Addressing these two challenges seemed an interesting opportunity to develop our business idea.
In particular we decided to evaluate whether this advertising model could be applied also to a smaller scale, both from the brand and influencer's side.
The next step was to gain primary insights on these challenges through interviews of possible customers and users, and evaluate a possible business model.
User research and idea validation
Skills and tools applied
User interviews
Group testing
The main activity we performed during this stage was contacting as many as possible small-medium influencers (from 1k to 100k followers) on the principal social media platforms.
Thanks to our co-founder that had previous connections in the industry, we managed to create a consistent group of content creators that were interested in the project and were eager to answer our questions about their work.
After gaining insights from interviews
, observations of their daily work and group meetings
we developed our hypothesis on the needs, pain points and possible solutions that our tool should provide in order to be successful.
User personas emerged from the interviews - Influencers
The second step we took was analysing the brand side. For this part we focused on small, medium and large brands that were already present on the main social media platforms and were actively sponsoring their products.
Also regarding this side we directly contacted the brands asking for interviews and questions about their marketing strategies, pain points and needs.
User personas emerged from the interviews - Brands
Concluded this phase we realized that there was an actual need from possible customers and users, so we set out to define a business model that could be sustainable.
During this time we also were invited to our first startup accelleration program!
Business model and competition
Skills and tools applied
Business model canvas
Competitor analysis
During the initial 2 weeks of our first acceleration program we were able to define our first business model and elaborate a differentiation strategy from the competitors already in the market.
In particular we decided to focus our efforts on providing a simpler and much more efficient way for small and medium enterprises to collaborate and create marketing campaigns with emerging influencers.
As we developed our business model we had the opportunity to analyse the competitors already in the market, in particular in the Finnish and Baltic region.
The main competitor was a startup based in Helsinki, Boksi, that had raised a couple of millions in funding and that operated with a similar business model, but focused on much bigger customers.
Another competitor was Promoty, a platform for marketing campaigns that focused on providing consulting services to corporate companies.
As a result we decided to focus on the top right sector of the competition matrix, delivering services to a specific niche (small sme's and emerging influencers) and making our product very easy to use and start making marketing campaigns.
MVP - Minimum Viable Product
Skills and tools applied
Journey maps
Figma prototypes
After this first validation we started developing our product and defined all the features and characteristics emerged while talking with the potential users.
In this phase I prototyped different mockup
versions of the platform, both mobile and web. Consequentely I evaluated them with the influencers and brands, in order to get feedbacks
on the main features and the overall journey through the service.
Thanks to the expertise of our technical co-founder Kelvin we were able to develop a first version of the platform and have a minimum viable version online in a couple of weeks.
From here we started validating with real customers and opened the signups to our service.
Mockups of our platform
Market validation and bootstrap
With our platform up and running we started actively engaging customers and users that we had been in contact previously.
Here we ran our test campaigns with a couple of brands and fine-tuned the process through our service. We made small adjustments around features and simplified the signup process.
The first campaigns were a huge success both in terms of engagement, metrics evaluated and customer satisfaction.
With only a few influencers creating content our first customers were able to reach more than ten thousand people and increase traffic to their social media pages and physical stores. All of this only by offering sample products to the influencers, that they reviewed and posted about on their social media accounts. Also the engagement of each post was extremely successful, with hundreds of comments each.
From these first campaigns we learned how sample products could replace in part monetary rewards for emerging influencers and thus make sustainable for small brands to collaborate with them.
Some of the campaigns held with our platform
Consequent to our launch we were accepted in several accelerator programs, including the NorthboundStartups hold in Tallin and the StartupJourney held by Boost in the Turku region.
Here we had the opportunity to meet mentors that helped us scale our operations. In a few months we reached hundreds of active influencers on our platform and ran several campaigns with brands in the baltic region.
We were then able to pitch in front of a pool of investors and compete for a 200k investment with other startups.
Final stage of the Sparkup contest in Finland