After five months and four grueling rounds of pitching our business based on specific brand pain points, SimpleRelevance is proud to claim victory of the Brands+Startups™2014 Challenge. Back in April, 31 startups presented their business concepts and marketing plans to a panel of Fortune 500 brand marketers and early-stage investors – the brand coaches. Each brand coach selected startups for their team moving forward. We were ecstatic to be chosen to join Best Buy’s team.
This competition went through four rounds focusing on targeting consumers, positioning for differentiation, and finally creating awareness and gaining loyalty. Over the past two years, SimpleRelevance has worked hard to hone its messaging in each of these areas and is seeing the fruits of that labor. Our customers are happier than ever with the results they’re seeing leveraging SimpleRelevance to offer their customers individually personalized communication. Our technology, made of five key products that offer best in class data ingestion, normalization and predictive analytics, allows our clients to offer drastically smarter messages. And finally, we’re winning and keeping major brand named clients such as Allstate and Gannett Online.
While we see these three points of business maturity play out every day, this challenge was an interesting opportunity to test our messaging one-on-one with a brand that is the perfect client profile for our service. We’re happy to say that the victory proves yet again that our business is ready to take a seat at the table, no matter which brand is on the other side.
Recap of the events:
More than 30 Chicago startups were given 60 seconds to earn the attention of a panel member. If a coach’s interest was piqued, they’d turn around and give the startup two more minutes to explain its value proposition. SimpleRelevance earned Best Buy’s interest and made it to the next round – Targeting People.
In the second round, each startup was given three minutes to explain how their technology helps brands target individual consumers. Following the presentation, the brand panel hit the startups with the hard questions about actual application of their technology. Each coach could only select two to three startups to move on to the next round. SimpleRelevance prevailed.
The third round was a knockout round focusing on positioning. Each startup was challenged to present how they effectively communicate their point of differentiation. Although a tough battle, SimpleRelevance came out on top yet again.
The finale. SimpleRelevance and its final three competitors discussed how they effectively promote their products to gain awareness, trials and loyalty. SimpleRelevance won the grand prize: $25,000 and continued conversation with the Best Buy marketing team.
We are very thankful to the Heartland Mobile Council for putting the event on and the team at Best Buy for spending time mentoring us and helping coach us to the win. It was an absolutely fantastic experience!