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How To Scale While Pulling Back on Ad Spend
Manage episode 407071471 series 3553569
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Ali Kaminetsky is the Founder of Modern Picnic, a DTC brand offering high-end, insulated, vegan leather lunch bags for women. In 2018, she launched the brand to provide women with a chic alternative to the traditional lunch box. Modern Picnic has been featured on Shark Tank, the Today show, and Oprah and in publications, including Forbes and Vogue.
In this episode…Shopify stores grew by 201% from March 2020 to January 2022, so consumers have more options than ever about where and how to spend their money. With so much saturation in the market, how can emerging brands position their products in front of consumers?
Armed with a revolutionary idea, Ali Kaminetsky took her brand concept to Shark Tank for funding opportunities. Yet the sharks insisted that Ali’s high ad spend was compromising her brand’s early-stage profitability. In response, she stopped investing in paid ads entirely. Ali maintains that you can still gain brand recognition and drive sales through organic efforts like creating social media content to fill the marketing funnel. You can also employ post-purchase surveys to encourage feedback and word-of-mouth marketing, fueling the next stage of brand growth.
In today’s Ecom Experiences episode, Samir Balwani chats with Ali Kaminetsky, the Founder of Modern Picnic, about how she applied her lessons from Shark Tank to scale her brand. Ali provides strategies for penetrating the market, tips for new founders, and the backstory behind Modern Picnic.
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