Perch Funded $123.5M to Accelerate Quality Brands and Expand its Platform

Brands

Perch based in Boston, MA. This company is a technology-enabled consumer quality brands that acquire and operate Amazon Marketplace businesses to win products in their respective categories.

Perch was funded $123.5 million in a new round of financing. Spark Capital led the funding with participation from past investor Tectonic Ventures and new backer Boston Seed. Perch intends to use the capital mainly to acquire category-leading products and companies, make out its core team, and invest in its technology platform.

Third-party sellers are growing gross revenue at a rate greater than 50% in 2020. Yet, even though 86 percent of third party sellers are profitable, there are often limited options and resources available for these entrepreneurs to take their products to the next level. That’s where Perch comes in. Perch acquires high-quality consumer products and brands that have a steady history of strong customer reviews. They are consistently one of the top products within their category and demonstrate the opportunity for continued growth.

Said Chris Bell, the CEO of Perch; they currently count women’s athleisure brand Satina, kitchenware from Flathead and Aulett and others, health and personal care brands among its stable companies. There are just ten on the platform today. The funding is getting on the back of success and ambitious plans to grow 50 by the end of 2021, eventually hundreds or thousands of brands.

Bell adds that technology is the most crucial part of our model because some 40% of the startup’s team works on its platform, which is used to onboard. Eventually, thousands of brands at scale in an e-commerce-native environment.

The platform helps run analytics on sales, determine pricing and ad strategy, inventory positioning, and other marketing decisions. Longer-term, it will also use to help figure out how to sell and balance products on social and retail channels.

Said Alex Finkelstein, General Partner of Spark Capital. The Perch team has the M&A, eCommerce, and Amazon experience to know what makes a quality and scalable consumer product and take those products to the next level post-acquisition. Moreover, they exceed excited to begin this round because Perch is already off to a solid start. Given the booming eCommerce market, he expects they will continue to see record numbers and added acquisitions this year.

By: K. Tagura

Author statement:

Funded.com is the leading platform for accredited investors network worldwide. We monitor and provide updates on important funding events. Angel Investors and Venture Funding can be a key growth for a startup or existing business. Whether it is a first, second or third round financing having a strategic alliance with an Angel Investor or Venture Capital financing can propel a business to the next level and give the competitive edge.

How to Avoid Financial Problems for Your Startup?

Startup

There is no denying that starting your own business in an established niche is exhilarating. However, at the same time, you cannot eliminate the risk factors involved. As a startup, you have to deal with a plethora of problems, with an endless stream of administrative tasks. Not only does it require a lot of your attention but also time and critical thinking to manage business finances.

When you launch a new business, you require sufficient capital to cover all the expenses, and also funds to run your business before it turns a profit. This reason is why it is important that you work with a proper financial plan that can ensure your leap into the business world that is secure and realistic. Once you are sure that your business has enough finances, you will be able to maximize the chances of success.

Here are some tips to help startups and entrepreneurs manage financial problems:

Tips to Avoid Financial Problems for Startups

Avoid Taking Expensive Credits

Whether you’re an established brand or thinking to set up a startup, you need to make optimal use of your business funds. You need to establish some financial goals that can help you build a progressive business portfolio to benefit your business.

Remember that it is the growing period of your business, and the credit cost plays an important role. Your foremost financial goal must be to set up interest core at a minimum price to attain profitability and reduce costs.

Keep Expenses Low

Business is in the survival stage in the initial phase, so keeping expenses fixed or low is a wise move. Expenses play a critical role in helping you maintain steady business revenue. 

Always try to plan large expense, including taxes, payrolls, and cost materials for products, interest, utilities, and operating expenses in advance. Managing these expenses may help you reduce the financial burden. Moreover, low expenses will ensure your cash flow is running smoothly, even on a tight budget.

Keep a Balance between Personal and Business Finances

This important step can help you avoid financial problems. Once you register your business, make sure you set up a commercial business account. To put it simply, use different banks for your business and personal accounts.

Keeping business and personal financial accounts separate can make accounting straightforward throughout the year. Also, you can easily calculate your taxes as well as eliminate the cash crunch situations startups face due to unexpected withdrawals. This also means you need to avoid withdrawing money for personal use from the business account.

You can use different credit cards and loans for your startup but avoid using them for personal expenses.

Consider Insurance

You might not like the idea of insurance and paying a big amount for your startup, but you cannot deny that your business actually needs it. Do some research about what suits your business needs for managing business finances and building a profitable portfolio. This step is imperative to evaluate which type of insurance can provide your business with long-term financial security.

Prioritize Payments

To keep financial problems at bay, entrepreneurs need to draw a line between less important and essential costs for at least the first six months. This helps entrepreneurs project where they need to inject the cash flow. They can start by reducing unnecessary expenses and adjusting the budget.

Prioritizing payments may also help you determine the key issues, such as business overspending. Once entrepreneurs take a closer look, they will find ways to become more cost-savvy with their business expenditures.

Invest in Advanced Technology

The next important thing to avoid financial problems is to invest in the right technology. To retain a prominent position in the business world, analyze your competitors’ strategy, and upgrade business operations. Use online software to track finances and also establish a strong online presence.

Using bookkeeping software for developing budgets, paying taxes, and understanding your business financial position is a great idea. Almost, all large-scale businesses have a separate finance department that uses professional software.

However, your business is in its infancy, but if you don’t embrace technological advancements gradually,   running a business efficiently will become challenging.

Manage Money Movement

Regardless of what stage your business is at, outlining payment terms is important to manage business finances efficiently. The best way to do this is to track money movements, from supplier costs to product purchasing. Make sure you consider both the legal and the financial sides of monetary transactions to trace money movements.

This way, you can figure out which business areas are performing efficiently and where you need to invest fewer funds. The data is useable for not only tracking progress but also developing a reasonable budget.

Negotiate Your Business Needs with Vendors before Finalizing a Contract

Don’t hesitate to negotiate whenever you are signing a deal. Successful entrepreneurs know what rates can benefit their business and how they can achieve them. They carefully examine purchase terms, such as grace periods or payment penalties, which can help them negotiate a great deal.

Maintain an Emergency Fund

Once you know how important it is to negotiate the right prices with vendors for managing business finances, you need to set aside emergency funds to ensure the success of your startup entity. Know that your sales will not be consistent throughout the year. This part is where you need to have some emergency funds, particularly for the off-season, to maintain a steady cash flow. 

For emergency funds, take out a proportion of your profits or income every month (particularly during high sales) and keep it for off-month expenses.

Bottom Line

While starting your own business is exciting, it entails a myriad of challenges, especially when it comes to handling business finances. If you’re facing these same issues and want to be prepared, try implementing the tips mentioned above to help you move towards a bright future.

Financial stability in business leads to better money management and success opportunities, and thus, these factors are crucial for the success of any startup.

Access our network of Investors, get instantly matched with a Lender, or get a business plan by visiting us Funded.com

Yotascale Funded $13M for Next Cloud Innovation

Cloud

Yotascale, a Menlo Park, CA-based the industry leader in next-generation cloud cost management software, was funded $13 million for its Series B round funding.

The round was led by Felicis Ventures’ Aydin Senkut, with existing investors’ participation in Crosslink Capital, Pelion Ventures, and Engineering Capital. This funding intends to continue to expand operations and its business reach.

When you encountered a startup, you don’t go out and purchase a rack of servers. And you don’t produce an in-house data center team. Instead, you spread out your infrastructure needs to the major cloud platforms, namely Amazon AWS, Microsoft Azure, and Google Cloud.

That’s all fine, but any startup’s cloud setup will become more complex, varied, and perhaps multi-provider over time. Start in microservices, and one can turn up with significant confusion and an even higher bill. That’s the difficulty that Yotascale wants to beat.

Most startups they expand, so too does their outflow of dollars to the major tech companies. So paying less on AWS or Azure would be best for startups.

Yotascale wants to be the supporter for many companies to understand and attribute that spend to the right part of their platform or service, perhaps reducing aggregate spend at the same time.

Yotascale’s software provides engineering teams, the subject matter experts, for their cloud workloads and applications. Complete visibility of cloud costs, making more cost-effective decisions, and independently validating planned usage for faster buying cycles increased savings of 50%.

Yotascale’s next-generation approach to cloud cost management provides three pillars for a genuinely collaborative, optimized framework: unified cost management, joint cost optimization, and predictive capacity planning. Yotascale’s solution focuses on understanding cloud spend seamlessly and builds trust with engineering teams. Not just providing piecemeal reports requiring manual administrative configuration and sealed communications.

Yotascale has widely adopted industry-wide by leading fortune 1000 companies globally, such as Zoom Video Conferencing, Hulu, and Doordash, driving its revenue growth year over the year.

According to Aydin Senkut, founder and managing partner at Felicis, Yotascale provides complete visibility and significant savings and allows for accurate cost attribution, including usage of microservices. That’s why they are pleased to be a partner and to invest with Yotascale on their journey.

By: K. Tagura

Author statement:

Funded.com is the leading platform for accredited investors network worldwide. We monitor and provide updates on important funding events. Angel Investors and Venture Funding can be a key growth for a startup or existing business. Whether it is a first, second or third round financing having a strategic alliance with an Angel Investor or Venture Capital financing can propel a business to the next level and give the competitive edge.

A2 Biotherapeutics Funded $71.5M for Clinical Development Tumor Cell Platform

Biotherapeutics

Agoura Hills, California based A2 Biotherapeutics is a biotechnology company developing innovative cell therapies for stable tumor cancer patients, was funded $71.5M Series B financing.

The investors in this financing are The Column Group, Vida Ventures, Samsara BioCapital, Nextech Invest, Casdin Capital, Euclidean Capital, UC Investments, and Hartford HealthCare Endowment. The fund will proceed to the advancement of its Tmod (T-cell module) platform and the clinical development and in-house manufacturing of its three near-term product candidates.

A2 Biotherapeutics, established in 2018, is an entirely integrated discovery, development, and manufacturing organization that is applying its cell therapy Tmod platform for the treatment of solid tumor cancers.

Said Scott Foraker, the CEO of A2, is the first company to create vital engineered T cells that can combine two signals to harness the incredible power of immune cells to attack tumors that have lost specific genes while sparing normal cells whose genomes are intact.

Tmod design and proof-of-concept paperwork explain the Tmod dual-targeting system and demonstrate its ability to recognize and selectively destroy tumor cells that have lost expression of defined target molecules.

Tmod provides a practical solution to cancer research’s two significant problems: distinguishing tumor vs. normal cells and accessing new cancer targets. The Tmod platform can provide many products using various activator/blocker combinations.  By allowing these combinations, the Tmod platform has the potential to treat nearly all solid tumor cancers.

A2 has an accomplished team of previous Amgen and Kite Pharma drug and cell therapy developers to fulfill these vast potential therapies. Said Alexander Kamb, co-founder of A2, they have first-rate discovery scientists who can deliver on pioneering cancer programs and technology. Professional development and manufacturing staff allow us to innovate on both sides of the cell-therapy product—the Tmod target/receptor system and the T cells.

By: K. Tagura

Author statement:

Funded.com is the leading platform for accredited investors network worldwide. We monitor and provide updates on important funding events. Angel Investors and Venture Funding can be a key growth for a startup or existing business. Whether it is a first, second or third round financing having a strategic alliance with an Angel Investor or Venture Capital financing can propel a business to the next level and give the competitive edge.

ButterflyMX Funded $35M for New Smart Intercom Systems

Intercom

New York-based company ButterflyMX a smart intercom creator, a secure and convenient smartphone-based technology, was funded $35 million in a growth equity round.

This newest round was led by Volition Capital, with support from Egis Capital, RiverPark Ventures, and Stifel Venture Bank. As part of the financing, Roger Hurwitz and Robert Chefitz of Volition Capital and Egis Capital will join ButterflyMX’s board of directors.

A company spokesperson said that the fresh capital would expand into new markets, hire on 80 new employees by 2021, and introduce products that extend ButterflyMX’s intercom experience from the front door to the rest of the building.

The company started in 2014. Their mission is to let people open and manage doors from a smartphone. ButterflyMX does design to eliminate the unnecessary building wiring and in-unit hardware that comes with common video intercoms, significantly reducing installation costs for property owners and developers.

ButterflyMX enables easy property access control from anywhere at any time. With ButterflyMX, tenants enjoy seeing, speaking, grant building access to visitors via their smartphone, and building staff benefit from simplified property operations and management — allowing their teams to focus on higher-value tasks rather than managing and granting property access.

Cyrus Claffeey, the founder of ButterflyMX, said, Their smartphone-based platform does build to provide a better living and working experience by solving the access challenges associated with modern properties. Their products also simplify building staff by enabling them to focus their time effectively and efficiently, which has never been more important.

He is also thankful to their investors that allowed them to continue to develop products and services that help the real estate world move away from antiquated keys, fobs, and keycards for managing property access.

ButterflyMX is installed in more than 4,500 properties across the U.S. and internationally. It has adopted in buildings developed, owned, and operated by the most trusted names in real estate, including Greystar, AvalonBay Communities, Bozzuto, CA Ventures, Lennar, Lincoln Property Company, and Equity Residential.

By: K. Tagura

Author statement:

Funded.com is the leading platform for accredited investors network worldwide. We monitor and provide updates on important funding events. Angel Investors and Venture Funding can be a key growth for a startup or existing business. Whether it is a first, second or third round financing having a strategic alliance with an Angel Investor or Venture Capital financing can propel a business to the next level and give the competitive edge.

How Soon Should You Start Talking About Business Idea

IdeaSome people are just itching to launch their own business. But all they have is an idea.

It is true that being passionate about your idea is critical to establish a business. But should you discuss it with your friends and family before you have anything concrete?

When is the Right Time?

Naturally, all entrepreneurs are very protective when it comes to nurturing and protecting their business idea. Every entrepreneur initially fears that someone would steal his or her idea.

For that reason, it is important that you don’t share a business idea with people around you, without translating your idea into a viable business.

But in some cases, you can’t take things any further unless you share your business proposal with an investor who can finance your business. Seasoned experts recommend that you must never share any business plan or idea without getting a confidentiality and NDA agreement signed by the other party.

These legal documents are generally drafted by attorneys and must be signed before you discuss your idea.

How to Start Talking about your Business Idea?

An idea is fragile in its infancy stages. It must be developed into an elevator pitch or a business proposal before you could share it with other people. Don’t be discouraged if your idea doesn’t get the attention it deserves. Some of the best business ideas were once turned down by giant investors and people in general.

Believe in Yourself

Did you know that Chester Carlson, who was the inventor of the Xerox machine, received a rejection letter that stated ‘Who wants to copy a document on paper?’ Most of us still don’t know that his idea was turned down by 20 companies between 1939 and 1944. Today, Rank Xerox Corporation earns millions of dollars in profits.

The problem is not that you want to share your idea with people. What’s more important is who you want to share your business proposal with. Many start-ups and entrepreneurs simply abandon their business idea if they are rejected initially. But if you have worked on producing a quick and affordable solution to your target consumers’ problems, never doubt the potential of your business idea.

Many entrepreneurs or companies have re-located to other countries where there is more demand for their products or services. Every city and town has unique government-funded business development offices. You can get free or inexpensive resources to work on your business idea and find your target market.

Connect with Positive People

While keeping your business idea to yourself initially is the best policy, sometimes it helps sharing your ideas with motivated and positive people. Self-motivated individuals offer good advice and offer the best emotional support to help you launch a promising business.

But stay away from people who always bring you down. These people not just steal your energy, but can also rob you of your incredible business ideas.

Create a Strategy

Your business idea is like a small baby that has to grow before you could introduce it other people. Many entrepreneurs have an idea of what their business ideas or products are going to do, but they fail to figure out the ‘how’ part.

Work on developing a decent product or solution, before you could pitch it to investors. Work on creating an impressive proposal that highlights the best features of your idea as well as elaborates the mechanics or the process that’s involved.

When you re-invent something, you need to show why your idea is better than the rest. There has to be something unique about your business idea or product that offers something new or inventive. Going creative saves you from disastrous pitfalls and guarantees a steady source of profits.

Work on Promotion

A solid marketing strategy offers a strong back-up for your business idea. Once you have produced a great product, marketing it right lets you reach out to a wide audience. Study and reflect on how your competitors promoted their first products and services. Did they rely more on promotion or improving their initial business idea.

Relocate to a New Location

There are many reasons why many companies and business relocate to other cities or countries. Some firms require specialized employees while other companies might need an extra and affordable place to run their business.

Ask for Help

Connect with people who listen to your business ideas without any bias or prejudice. Most entrepreneurs look up to a role model if they can’t find a mentor. A mentorship or partnership between two parties can be both formal and informal.

You can also find true strength and support from your friends and family. Reaching out to others and asking for help is never a taboo for entrepreneurs. Successful people know that they can’t do everything. In fact, some of the most lucrative businesses were never built alone.

Test your Services

If you have developed a product, test it on a sample audience to identify its best and worst features. If you are setting-up an ecommerce store, make sure your website has gone through A/B testing and does not have any glitches before you run it live.

In case you have an idea for a mobile app, make sure it goes through a meticulous Quality Assurance process to get any bugs fixed. It is not easy to fool or satisfy today’s smart consumers. Once you have materialized your business idea, you need to promote it successfully across all channels to reach out to your audience.

Final Thoughts

The best time to share your ideas with your friends and family is when you know that your idea can successfully bridge the gap between a problem and a solution. The best time to share it with investors or other companies is when you have meticulously worked on creating and testing the implementation of our ideas. Never prematurely take an idea to an investor, he will reject it. Take a product or business proposal and you have higher chances of getting an approval.

Access our network of Investors, get instantly matched with a Lender, or get a business plan by visiting us Funded.com

Veem Funded $31M to Widen the Payments Network Globally

Payments

Veem, a San Francisco, CA-based the fast-growing global payments network built for businesses, was funded $31 million Series C round financing.

Truist Ventures led the round. With the global investor base’s participation, MUFG Innovation Partners Co. Ltd., the largest bank in Japan, AB Ventures, Arab Bank, Paper Excellence, and Myer Family Investments.

It also included the existing investors, GV (formerly Google Ventures), Goldman Sachs, Kleiner Perkins, Silicon Valley Bank, National Australia Bank Ventures, and Trend Forward Capital.

This investment intends to use the funds to develop a robust channel partner program that will widen its geographic presence and expand its product suite.

The B2B payments network is booming right now so that the company’s self-described mission to become the “Venmo for businesses,” as it helps companies send and receive money internationally with its online wire-transfer service.

Veem is proliferating. Currently, about 225,000 businesses send and receive money in more than 100 countries using Veem’s platform. This company licensed and regulated in each country and state it serves, and it supports over 50 currencies. Secure, trackable transactions combined with seamless integrations with business applications such as QuickBooks, Xero, and NetSuite, enable firms to save time and money while mitigating risks associated with international funds transfers.

The statement of Vanessa Vreeland, head of Truist Ventures, inspires Veem’s management because they can resolve a critical pain point for small- and medium-sized businesses by their group of innovators and visionaries team. They are excited about the investment and the future opportunities it may bring. Veem’s strategic approach and commitment to constant improvement align well with how Truist sees technology’s role in shaping the client experience.

Said Marwan Forzley, the CEO of Veem, This funding round marks an important milestone for their company, putting them in an ideal position to build out their channel partner program and prepare for Veem’s next stage of global growth. Their channel partner network serves as their vehicle to better commercialize their product offering and further expand its market development efforts.

By: K. Tagura

Author statement:

Funded.com is the leading platform for accredited investors network worldwide. We monitor and provide updates on important funding events. Angel Investors and Venture Funding can be a key growth for a startup or existing business. Whether it is a first, second or third round financing having a strategic alliance with an Angel Investor or Venture Capital financing can propel a business to the next level and give the competitive edge.

Why is Quality Content Important for Your Business Growth?

Quality

Business strategies have changed in the recent past and so have marketing strategies. Marketers are now more vigilant when it comes to applying quality content and innovative ideas in order to persuade potential customers. Similarly, analytical marketers are more inclined toward tracking metrics.

Many companies in the industry are excelling in product manufacturing; however, when it is comes to subjective elements related to content marketing, they lack the expertise. Creating high-quality content has become crucial in order to keep business flourishing and to avoid the risks that can damage brand image.

If you are an entrepreneur, you probably have experience of dealing with directives given by SEO experts, sometimes from Google itself.  But have you ever wondered what this SEO thing really has to do with the success and failure of content market strategy have you used them for your business growth? How does it affect the reputation of your business if the quality of the content is not good enough? Most importantly, what is the way to know if you have really produced great content?

If these questions seem relatable, we can help you find out the answers. We can help you walk through all the important aspects that Google considers when its assess content quality. Plus, you will find some crucial information about how quality content influences your business growth that eventually helps you improve your digital marketing strategies. The information will also help you generate relevant and quality content to grab the attention of your potential customers.

These are the key reasons that explain why creating high quality content is important for business growth?

Importance of Quality Content for Business Growth

There is no denying that powerful digital marketing can make or break your business.  According to expert marketers, a successful business greatly relies on its digital marketing strategies. From search engines to social media, it is high quality content that promotes your business effectively while maintaining your online presence.

Quality content creation is undeniably one of the most important parts of your digital marketing strategy. It does not only connect you with your target audience, but also builds trust between you and your customers.

To put it simply, high-quality content fuels your various marketing techniques. It acts as a base that promotes and endorses your business online. That is why giving attention to the content that it deserves is of paramount importance.

Let us take a look at some key reasons that make producing high quality content important for not only digital marketing purposes, but also business growth.

1.)  High-quality Content Educates Audience

Educating your audience is the very first step to reaching potential customers, especially when they are deciding whether a service or product is worth buying or not. In other words, before making a decision, having the full understanding of the options available is extremely important. That means as a seller it is your responsibility to provide the content that educates your customers properly.

Typically, educational content refers to well -maintained product pages, blog posts, and company homepage, etc.  Moreover, it may include reviews, tutorials, and any other content that can educate customers about your product or service.  It may also incorporate resources customers require to make informed purchasing decisions.

This content is only considered high quality if it is focused on educating the target audience about your business services and offerings.

In order to create valuable content to educate your customers, you need to take the concerns and questions of your customers into account. Your content needs to address the issues a customer faces.  Plus, it should reflect on how your product or service can resolve or relieve those specific issues and how it can make your customers’ life easier.

2.)  Fuel for SEO

Search engines have become the go to solution for anyone looking for an answer to his or her concern or question.  That makes optimizing the content that you create even more important if you want it to stay relevant for the customers.

It is the only way you can attract multiple new leads to your business portal.  However, it is only high-quality content that can help you fuel your SEO (Search Engine Optimization) strategies.

SEO is all about back links, website visitor and most importantly keyword placement. Your content allows you to build webpages that can fuel all these components. If there is no content, there will be no place for keywords, and for your visitors to get the information.

On the contrary, if you are producing excellent content that your customer is looking for and can relate to, reaching the top of search engines will not be difficult. The more customer flow you have, the more opportunities you will get for your business to grow.

3.)  Content is Important for Social Media Strategies

Social media platforms have completely revolutionized marketing strategies in the past few years.    They have become the easiest way to connect with potential customers. You can use it as a powerful tool to establish genuine relationships with your target audience to make a strong customer base.

Social media is not less than a direct way to approach your customers, maintain conversations, get customer feedback and drive new leads to your site.

However, all of this is fueled by high-quality content that basically enables you to retain your target audience. You can direct customers through your powerful Facebook post or Tweet to your website and encourage them to learn more about your services and products. This helps in establishing a better connection with the target audience. In addition to that, this is one of the ways you can make more visitors to go to your website and collect more information about your products. In other words, it can bring you more profit.

Final Thoughts

In a nutshell, there is no way an entrepreneur can deny the significance of digital marketing strategies as well as high quality content when it comes to business growth.  Keep in mind that quality content is crucial for developing connections with your target audience and driving them to your website.

Access our network of Investors, get instantly matched with a Lender, or get a business plan by visiting us Funded.com

Seegrid Funded $52M for High Demand of Industrial Vehicles

Demand

Seegrid Corporation, a Pittsburgh, PA-based the leader in self-driving industrial vehicles for material handling. As the demand for automation in supply chain operations continues to grow, so have investments in mobile robots’ suppliers.

Seegrid was funded $52 million was led by G2VP with participation from technology and robotics investors. The company plans to use the added capital to increase the size of its workforce to deliver best-in-class automation solutions for its customers and also will accelerate new product development and new product introductions. Seegrid also is considering potential strategic acquisitions.

Founded in 2003, Seegrid has created two vision-guided vehicles (VGVs) capable of moving materials in warehouses and manufacturing sites entirely autonomously. The company has two vehicles on the market a pallet truck and a tow tractor—these vehicles outfitted with stereo cameras and machine learning smarts. The VGVs created to “see just like humans do,” allowing them to navigate dynamic environments without additional infrastructure installation.

Seegrid CEO Jim Rock said they would expect to double revenues again this year and are seeing increased customer demand as the pandemic is driving many companies to greater use of automation across the material handling industry.

By this investment, they will continue to grow their market share, solidify their position as the market leader, and further disrupt the manufacturing, warehousing, and logistics industries.  Moreover, most importantly, the continued support from G2VP and its new investors enables to accelerate new product innovations and address customer needs in this rapidly changing climate.

Several of the world’s largest manufacturing and distribution brands believe Seegrid’s vision guided vehicles (VGVs), fleet management software, and industry-leading services teams to drive them forward, not only assisting with their manufacturing, distribution, and e-commerce fulfillment needs but making facilities safer and more productive.

By: K. Tagura

Author statement:

Funded.com is the leading platform for accredited investors network worldwide. We monitor and provide updates on important funding events. Angel Investors and Venture Funding can be a key growth for a startup or existing business. Whether it is a first, second or third round financing having a strategic alliance with an Angel Investor or Venture Capital financing can propel a business to the next level and give the competitive edge.

Niche Business Marketing – How to Do It

Niche

Starting up a business is an easy job to do, but making it successful is challenging, especially when you’re competing against several business rivals. In that case, targeting a niche market is perhaps the most successful idea you can work on.

To succeed in your business, you first need to determine the market and identify the customers you’re going to target. This is what all the businessmen do. Usually, they target a large group of people with various demographics.

However, a niche market is a defined group of people that have ‘particular’ needs. By keeping in view those specific needs, you operate your business to render the products or services that meet their demands. You deal in those special products or services which mainstream businesses have overlooked.

For instance, many shoe brands provide a vast variety of shoes. But, if your business deals in providing shoes for people with plantar fasciitis, you are targeting a niche; a specific segment of the market. This is what a niche market is.

Coming to the niche business marketing, it is specializing in one area of business while targeting a specific segment of the market.

You Must Know Your Target Niche Market Inside Out

Determining your niche market is crucial for operating your business. It not only helps you to set and expand your marketing budget but also give you a clear insight into where to advertise. Further, it makes you stand out above your competitors.

For selecting a niche, you need to think about what you are best at. So, you will have enough knowledge regarding the product or service you will be dealing in. To make it clearer, let’s take some ideas you can work on to run your niche business.

Today, many people demand diet foods such as gluten-free, low-calorie, organic or vegans. However, they rarely find it in eateries. If they find their diet food online, they prefer to buy it online rather than preparing it at home. This is because it is more convenient for them.

Similarly, certain people hardly get their size in apparel stores.  Therefore, offering plus-sized and petite clothing to these potential customers will not be a bad idea for your niche business.

Niche Marketing

Before getting down to the nitty-gritty of niche marketing, let’s talk about some businesses dealing in niche markets. Lefty’s, based in San Francisco, is a store that sells school stationery, gardening tools, kitchen goods and a lot more. What’s the best part? All their products are specialized for left-handers! Furthermore, they also offer customized gifts for the lefties in your life.

Furthermore, Vermont Wooden Toys are known to offer their specialty; handcrafted toys. Based in the Green Mountain State, the business is owned by a proprietor Ron Voake. People buy his products because of certain values- dedication, love, and craftsmanship. They place their orders on the website or over phone calls.

In the same way, you need to practice several marketing strategies to make the best use of your business.  Take a look for a few niche business marketing tips here.

User-Generated Content

The era when company ads would persuade people to buy a product is long gone. Today, they usually look for experiences. They go online and search for user-generated content before purchasing a particular product.

User-generated content works in two ways; advertises your brand for free, and increases your credibility. And what’s more? It brings new customers to you. To have a better understanding, you can study previous success stories of other brands that implemented the UGC strategy.

Advertising Platforms You Need To Leverage

As niche marketing isn’t regular marketing, you need to pinpoint specific platforms for advertising your product. Promoting your niche business on social platforms such as Facebook or Twitter isn’t a bad idea. However, the thing is these platforms are already over-populated with other business rivals hence leading to high-competition.

In that case, you can limit your promotion and brand visibility to specific demographics on these platforms to reach out to your targeted customers. No matter what tactic you choose, make sure to reach your niche market cost-effectively.

Partnering With Other Services

To reach out your business goals, develop a kind of service that not only offers a great product to your customers but also give them a fantastic experience. You can do this by providing additional services such as product delivery.

However, niche businesses are small, and therefore it can be costly for you to offer extra services to your customers. For this, you can team up with other service providers to cater to your customers in a better way.

Marketing Offline

It is crucial to determine your customers’ preferences and priorities to run your business. Well, you are required to market your product offline for two reasons. First, your targeted segment may not be tech-savvy enough to leverage internet access. Second, your customers might want to make their orders offline, depending on your product nature.

Furthermore, there are many ideas to market your product offline while adopting cost-effective methods. For instance, you can distribute your brand’s promotional materials such as business cards, coupons or pamphlets in any local events. This will boost the physical connection between potential customers and your brand.

Leveraging Influencers

To operate a niche business, you must first figure out your customers’ niche interests. Once you are done with it, look for the Instagram influencers who appeal your target segment and have a large number of followers. Approach them. Send a few of your products for free and ask for a shoutout in return. This won’t only help you in increasing your audience but also builds trust about your brand.

Segmented Marketing

Well, targeting a specific segment of the market for your niche business isn’t enough. You’ll have to gather and evaluate data on their demographics, values, and interests. Then, you further segment it and approach each group within your targeted niche. In this way, you’re able to engage with your niche market. Doing so will help you to maximize your business.

Conclusion

As compared to other businesses that target a wide audience with unspecific interests, a niche business focuses on the particular needs of a determined group of people. However, if you want your business to be flourished, you need to identify your niche market first.

While focusing on your specific customers, there are plenty of strategies you can adopt to achieve your business goals. By implementing the tactics mentioned above, you’ll be able to maintain your budgets and maximize your business.

In addition to that, you can also employ other strategies or new ways to promote your business. No matter what strategies you’re working in with, the main thing you have to keep in focus is your customers’ interests. It will surely help you adopt the right tactics for your business, increase profits and raise brand awareness.

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