Problem:
An Asian fashion technology startup was looking to expand its business into Europe, but the CEO was hesitant to invest without certainty of success. Despite commissioning studies from leading research agencies, the resulting reports provided little concrete information.
Solution:
We advised the CEO to test the hypotheses from the research reports in the real world. We suggested using Facebook Live to host sales events, allowing the startup to showcase its products and have one-on-one conversations with potential customers in real-time. With the technology to support this traffic, the Asian technology fashion startup was able to connect with thousands of viewers and collect valuable data on customer interests and habits.
Results:
The startup's daily sales increased by six times, and the real-time conversations provided the CEO with 90% new information that was not included in the research reports. This data gave the startup the confidence to expand into European countries and make informed decisions about its roll-out strategy.