🎓 Why you should differentiate your startup
🎓 Why you should differentiate your startupHighly differentiated startups raise 117% more early-stage funding and are more likely to succeed in the long-term, although they take more time to take off.New to Ariyh? Join 10,957 evidence-based marketers for 3min practical insights 💡 from scientific research 🎓 to get better marketing results 📈 Today’s insight is brought to you by… Storyblok Functional Nutrition helps people take greater responsibility for their wellness with natural products. But when Brexit hit, their clients started looking elsewhere, as products were getting more expensive due to extra costs and difficulties with shipping. So Functional Nutrition decided to relocate to the Netherlands, to update their B2C platform and achieve their vision using a headless CMS. 📝 IntroToday’s study from New York’s Columbia University and Beijing’s Tsinghua University is one of those that made me repeat in my head “Oh man, I love science”. This research would not have been technologically possible 10 years ago. Here’s what the researchers did:
And here are the results. Previous insight: The effect of [first name] in email subject lines (100+ more insights here) Highly differentiated startups raise more funding and are more likely to succeed in the long termChannels: Marketing strategy | Brand positioning | Business strategy 📈 RecommendationStrongly differentiate your company positioning from the start. You will be more likely to raise early-stage funding, raise more of it, and succeed in the long-term. For example, focus on a specific niche in your industry, a new technology, or low price (if competitors aren’t). Make sure you communicate your distinct value proposition clearly and effectively. 🎓 Findings
🧠 Why it works
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🔍 Study typeMarket observation (analysis of the websites of 12,406 startups listed on Crunchbase, founded between 2003 and 2019, and their publicly listed competitors at the time of launch) The authors made all the data and Python code used in this study publicly available on Github. 📖 ResearchMeasuring Founding Strategy. Management Science (June 2022). 🏫 Researchers
Remember: This is a new scientific discovery. In the future it will probably be better understood and could even be proven wrong (that’s how science works). It may also not be generalizable to your situation. If it’s a risky change, always test it on a small scale before rolling it out widely. Rate today’s insight to help me make Ariyh's next insights 🎓 even more useful 📈 How was today’s insight?
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🎓 The effect of [first name] in email subject lines
Tuesday, July 12, 2022
Including the receiver's name in an email subject line increases their attention. Open rates increased 6-23%, clicks by 7-32% and unsubscribes fell 11-17%
🎓 Copy the ads of larger competitors
Tuesday, July 5, 2022
Small brands should use ad creatives that are similar to those of larger competitors and consistently repeat them. Large brands should change up their creatives often.
🎓 Why you should offer free returns
Tuesday, June 28, 2022
Free returns aren't profitable in the short-term, but they are the cost of doing business if you want customers to buy from you again.
🎓 Ask “How many?” not “Want one”?
Tuesday, June 21, 2022
Conversions increased 14% and total sales 28% when call-to-action (CTA) buttons directly made people decide about quantity (eg “Buy 1” vs “Buy 2” vs “Buy 3”).
🎓 How email coupons drive sales
Tuesday, June 14, 2022
In a series of 70 experiments, 90% of the sales increase was because email coupons worked as effective ads and people bought other products, not because they used the special discount.
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