How Startups Land Big Brands: Do Your Homework

Previously, I wrote about stating the Big Brand's problem that you're trying to solve.  Oftentimes I see companies try to do this backwards by wanting a discovery call to talk about our problems, and then try to fit their solution into our problem on the actual follow-up sales call.  This is an incredible waste of time for both parties, and there is no worse way to begin a relationship with a client than with a long phone call asking questions that some quick research could have answered, ie, "What does you team do?  Who is in charge of X?  What are you working on?"

The other common tactic I experience is the form pitch letter which tries to vaguely reference a hot topic that their product plays in:  "Hi Tina!  Are you trying to figure out social media?  Because XX platform does...."  As though their email is going to be my savior for my social media problems! 

Instead, I recommend taking a few simple steps to quickly figure out the problem, and use the information you've gathered to customize your opening so that it really WILL pique their interest and garner a response:

1). Read up on Macro Trends!  I guarantee you that most large, traditional Brands are trying to figure out a few key big picture challenges:

(a) Cracking the Millennial:  How do we capture higher SOA (Share of Attention) and ultimately their wallets by increasing engagement, relevancy, consideration, conversion, and purchase?

(b) Delivering personalized and customized experience to consumers:  With better technology and data, we can create 1 to 1 relationships with each individual consumer.  Coke’s “Share a Coke” campaign used this to reverse an 11 year sales decline. 

(c) Delivering a connected experience to consumers across devices:  Delivering silo-ed messaging is out.  Smart messaging across all touchpoints is in.

(d) Making ecommerce a thing: Beyond Amazon, selling and delivering their product instantaneously, anywhere, anyhow.

(e) Figuring out the Big Insights!  Not Big Data, which is already an obsolete term since there’s too much data out there. Big brands want big data to uncover major insights that they can act on and apply the data to drive solutions for all the challenges listed above.

(f) Measuring ROI on...anything:  With each new innovation test will alway come the question of how to measure it and was it worthwhile?  Answering this accurately, at scale, and relative to other channels is the holy grail. 

If your product addresses any of these macro trends, you may have already piqued the Brand’s interest – congratulations!

2). Read up on industry trends.  Your target Big Brands have challenges unique to their industry. Figure out what these are and start brainstorming what their strategic and tactical problems are.  For the beer industry, an obvious challenge is that wine and craft beers are eating into mass (read: moneymaking) brands’ image and cache.  For the packaged foods industry, it’s the increasing health conscious movement and transparency of nutrition and ingredient information that consumers can now get at their fingertips. What are some of the large scale and tactical challenges that your Big Brand client could be facing?

 3). Talk to trusted partners.  Who does your target Big Brand hire to do their media, events, creative, packaging, influencer marketing, digital marketing, etc?  Brands have key AORs (Agencies of Record) with whom they have longstanding relationships with. These AORs are so ingrained in the Brands’ strategic vision, business objectives, and tactical problems that they are an incredible source of information.  Identify the biggest names in agencyland, find their client list, knock down their doors, and pump them for information. Assuming you’re not a competitor, the good agencies will be happy to work with you, because they want to be seen as thought leaders who bring new shiny solutions to their clients. Our social agency is proactive as a startup feeder to us;  I trust their recommendations and I always take those meetings.

 Also, you surely have startup buddies who have connected with the brand. Get insights from their conversation to see what the big picture problems are!

 4). See what else they’re doing.  Check out the Big Brands' campaigns and executions.  Who’s the target?  What’s the objective?  What’s the call-to-action? What new innovation are they using to execute it?  Why are they doing that campaign versus the one they did last year?  Marry this information with what you know from the homework you’ve already done.

 5). Have a short discovery call.   As a very last resort, and assuming you've done the above, it’s okay to ask for a short and INFORMED discovery call to hone your understanding of the Big Brand’s problem, making clear you've done all possible research.  I’d rather have a startup do this than sell me a slick pitch about a product that doesn’t solve my need. Come prepared having done your homework, have smart (NOT basic) questions, and keep it to 15 minutes.

Doing thorough research also benefits you greatly.  You'll learn about a variety of industries, trends, and macro-level issues, you'll be able to brainstorm new ways to sell your product, you'll be able to identify gaps in your service.  You'll look  smarter, more competent, and valuable, and get the brands’ attention more quickly.  If you don’t know the Big Brand's problem you’re trying to solve, no amount of selling will land the partnership.

Good luck!

Tina Wung sources emerging technology and innovation and signs the best startups into long term, game-changing partnerships with iconic brands.  She’s  passionate about educating startups on how to land big brand partnerships that will rocket them to success.  All opinions are her own.  Follow her @tina_wung.  Feedback and input welcome.

Also read:  Align Your Visions, Show Your "Game Change", Show Why You're Better, Know Your Position, State Their Problem You Solve, Set The Right KPIs