There are multi-million dollar companies that have all of the resources, great products, and the best people in the industry but yet they still go out of business. Look at the Pebble Watch, Pebble was valued at $720 Million and a year later they went out of business selling all their assets for pennies on the dollar. Sometimes in business “stuff” happens, timing, circumstances, mistakes you made, the market, or maybe the wrong business partners.
When I started my business I didn’t ever expect to ever stop selling our products. I mean this was my baby, I designed our products, lead the prototyping, testing, and manufacturing processes. I thought I had an amazing product and everybody was just going to love it as soon as I launched it.
I did what most businesses do, I hired marketing company so I can focus my time on building my business. I actually worked with 3 different companies over the first couple of years. Each of these companies did an amazing job reporting on our campaigns (with the information they decided to give us). They would report about how our traffic was up, how many clicks we had, or which banner ads were performing the best. They focused on reporting data that would make them look like they were doing a good job verse actually trying to help us grow our company.
The last company I worked with sold 100 units (59.95 each) with a $33,000 budget, needless to say, I was not very happy about this. This was the best thing that could have happened to me because after that I decided that I was going to do all of it myself.
Well, when I say myself I mean my wife and I. My wife is my one of my business partners and graduated from the Missouri school of journalism the #1 J-School in the nation. With her writing skills and my knowledge of our customer we thought we could figure it out. We set out to learn everything we could about digital marketing. Through trial, error, and more money than I care to mention we created marketing materials, made marketing videos, took photos, developed and tested our website, ran social media campaigns, blogged, set up email drip funnels, ran google ad words, and managed out Facebook ads. We then hired our first full-time employee our web developer who also our best friend. He was the missing piece! His skill set in data analytics and ability to make changes to our website in real time base on the data completed our sales funnel. One month after hiring him we had our best month yet and gross over $100,000 in a month! This was insane to us!
Over our five-year period, I started getting a lot of people asking about web design, video production, and how we were having so much success selling our products online. I would give people advice, sit down with them and show them how to manage their campaigns, and help with video production here and there. I never tried to bring them on as a client, I mean I didn’t have time to do everything I needed for my company let alone someone else’s.
Even though I was able to generate over $1.2 Million in revenue with a great marketing plan, messaging, content, and sales funnel, I ran into some major issues as many start-ups do. With my company in a “transition” period, I needed to find a way to pay my bills! So, I did what any good entrepreneur does… Innovate and Pivot! I took what I knew about marketing and focused on helping other businesses with some of the problems that I had experienced and already solved. The first company I had a chance to work with, I was able to increase their revenue by 100% over the first 4 months. So, with that success, I decided to start a Media Company called KCMO Media with my business partner.
The difference between KCMO Media and other marketing companies is our business strategy approach to our marketing campaigns. We want to know your company’s business goals so we can set key performance indicators that are actually going to positively affect your profits or gross margins. We want to know your metrics so we can find out what a successful marketing campaign is for you depending on your goals. Once we know that we can then dive deep into the value you are creating for your customer, who your customer is, and how we deliver that message in the most cost-effective way that will generate results.
We have officially launched and are taking clients on! You can read more about our services at KCMOMedia.com.
Now, I still think I had some really great products with my start-up but after seeing the success I’ve had with our clients and my ability to execute the marketing strategy. I realized that I just might be a better marker than my products were good. So, check out our media company, KCMO Media. It’s dope! It’s fresh! It’s awesome diving deep into other companies, saving them money, and growing their revenue.