At Power Digital Marketing, we only work with winners.
We specialize in driving revenue and performance for our clients by exclusively aligning ourselves with brands that have, or are extremely close to having product-market fit. Doing so allows us to use our talents strategies, and resources to exponentially grow their companies.
Time and time again we have proven that our unique data-driven audit and analysis process can help companies grow by 20 to 30 times their size in just a few years. By evaluating the potential client and their industry agnostically, we are able to assess how they are currently positioned, what advantages they already have in the marketplace, and how to further utilize those advantages while identifying new opportunities.
Brands We Work With
WHAT IS IT?
So, what is product-market fit?
Put simply, product/market fit means being in the right market with the right product. When you achieve this fit, your product is satisfying a need the target market has. And here’s the best part – if you have achieved product-market fit, your target audience will actually SELL THE PRODUCT FOR YOU by telling their friends, family, co-workers, classmates, and random acquaintances about your product. And this word-of-mouth advertising is not easy to get.
Those companies that struggle for traction in their market will simply fail faster while those with product-market fit will grow rapidly. You can feel when product-market fit is or is not happening. Think of brands like Instagram who had 25,000 signups on its first day live. That’s product-market fit.
Our system for identifying product-market fit works.
HOW DO YOU DO IT?
Here’s an example of a client we were *so* close to turning away…. Then turned into a million-dollar company.
In 2016 a brand who had minimal traction in their marketplace, only seeing about $250,000.00 in revenue each year, came to Power Digital looking for help. Specifically, they asked for assistance with their search engine optimization on a $2,000.00 budget. At first glance, most agencies would have turned them away citing a minimum required investment. However, we decided to do more research on their company and found that they had something special: key indicators of product-market fit.
Precisely what we saw was an unsaturated market, a unique competitive edge, a highly sticky product with recurring revenue, and elevated virality (word of mouth). With such a high virality score, we could market to consumers 1:3 as opposed to 1:1.
Seeing this, we decided to work with them and crafted a detailed growth marketing strategy. The plan ran over 2 years and took them through phases of growth which we called the crawl, walk, run plan. Ultimately, we helped this client increase their annual revenue from $250,000.00 to $8 million in just 2 years.
HOW DO YOU KNOW?
How do we know if a brand has 20x potential?
When evaluating a company’s potential for 20x growth, we use our sophisticated algorithm and black box target market analysis process to know if something will be a hit. Some of these components will already be built into the business, but the others we are able to implement into their marketing as well as the DNA of their products and services to solidify their potential for exponential growth.
This process does not only apply to new or emerging brands either. We help large, enterprise brands do this by evaluating new products coming down their pipeline or identifying new product opportunities. Power Digital has helped many big brands craft go-to target market strategies and find the niche market they can be most profitable in.
Our Tried & True Method
These are some of the components that go into our algorithm for determining whether a company can achieve 20x growth:
Marketing 1:3 vs. Marketing 1:1
If you are trying to market to your target group at a 1:1 rate, it will be impossible for you to scale quickly. Instead, try reaching your customers at a 1:3 rate. This means utilizing your existing customers to perpetuate your message further than you would be able to on your own. Common 1:3 marketing practices include influencer marketing, referral programs, and viral content.
Looking Down the Line
As we assess a potential client, we look towards the future. Do we believe their industry will be relevant in 10 years? Do they have the potential or ability to be an industry leader? Are they on the cutting edge of something? We believe in the old adage that if you are not first, you’re last – so we always look for indicators of future success.
Customer Sentiment & Feedback (User Generated Content Score)
If your customers are already leaving feedback and reviews organically, this is a major plus. When we see this activity already exists, it shows that your customers are already willing to participate in the conversation with you. By putting some strategy behind these activities, we can utilize them to increase your overall growth.
We also look for organic media coverage, not PR-generated or paid coverage. We want to see that people are already talking about your brand or product on their own. This shows us that you are already on people’s radar and are receiving coverage for a groundbreaking or innovative product or service. With that kind of natural momentum, we can strategically amp up your presence in the market and increase your existing word of mouth marketing.
At Power Digital, we use a very specific and clear formula to determine your unit economics. Ultimately, this comes down to the relationship between your cost of quality traffic, the stickiness of your product, and the value of each customer. We have the tools and unique algorithm across acquisition channels to generate a score which assess the likelihood of what it will cost to acquire new business. The lower this score, the faster we can help you to grow.
Finally, we take a deep look at your audience and their demographics. Where do they live? What social media sites do they use? What publications do they read? What television shows do they watch? By answering these questions, we can create target audience marketing mechanisms that we can use to funnel them onto your conversion pages and what the cost would be to do so. Mapping your audience in this way helps to confirm if the product is priced correctly or not, in addition to identifying other potential obstacles to conversion.
We know what you're looking for
Do You Have a Product With 20x Growth Potential?
When it comes to our process, this is only a sliver of what we can do. We have over 20 other core points that we use to audit potential clients and determine their positioning for exponential growth.
Out of the hundreds of inquiries we receive, only 15% are selected for this process with only 10% of those coming out at the end as winners.
We are extremely well-known for the thoroughness of this process. In fact, that we have clients who were on the hit show Shark Tank coming to us for help. And while we would love to work with every client, we can’t due to our commitment to those we work with. We truly become an extension of your team because we don’t believe you can win if you are half-assing your efforts.
However, this process isn’t just for us. We value our clients and their time – so we aren’t the agency that is going to beat around the bush. We’ll give it to you straight, the good, the bad, and the ugly.
We want to be part of your process and ensure that you aren’t investing your time or money into a product or service that will ultimately fail. Both internally and externally, transparency is one of our core values as a company and is key to how we engage with new clients. If we feel a client isn’t open to this, we will not partner with them.
We also practice what we preach. Following the same agile methodology we deploy for our clients, we launch $1 million plus products internally every year. As a company, we now have product worth of $10 million when we starting with nothing in 2013.