Living under a rock? 🪨

Unless you actually are, you possibly are already hooked to Shark Tank India, regardless of whether or not you like it.

But among the reality show format, the show is changing the minds of new age brands and is filled with valuable learnings for every brand! And that’s what we are going to cover in this issue of The Brand Advocate

What we are covering on today’s issue:

1. Lesson 1: Storytelling🗣️

2. Lesson 2: Harnessing Emotions😮

3. Lesson 3: Authenticity wins🤝

4. Lesson 4: Retention > Acquisition🙆‍♂️

5. Lesson 5: Do Digital Marketing(better, duh!)🙄

Lessons from the Tank 💡

Every time Shark Tank India starts airing, Instead of discussing the latest fashion trends or gossip, words like equity, brand value, and TAM become a part of the daily conversation over family meals and friends outings. There is something to learn for everyone especially if you are a business or starting a new one.

We dissected the best pitches of Shark Tank India and listed 5 key insights that you can use to elevate your brands’ marketing efforts.

#1 Storytelling sets the tone 

Content is no more a new thing, everyone and their mothers are creating content and you as a brand are possibly trying to find your footing in it.

Long story short, It's a real challenge!

Regardless of a product's quality, its journey to consumers must be guided by a compelling narrative. And that’s exactly what compelling storytelling does.

Take the Dorge Tea pitch, for example; the focus was more on the story than the actual product. The pitcher painted a vivid narrative for each tea variety, transporting the sharks to the scenic landscapes of Darjeeling and immersing them in the tea-making process, ultimately securing a deal.

In another instance from Season 3, Quirksmith, a silver jewelry brand, didn't clinch a deal, but the sisters used Hindi poetry to pitch their products. Each piece of jewelry, adorned with inspirational messages and rustic designs, was accompanied by a captivating narrative that left the sharks impressed.

In today's world, storytelling in marketing is a crucial skill that not many possess. However, if mastered, it offers a compelling way to leave a lasting impression on consumers.

#2 Emotions: The ultimate marketing weapon

Emotions are key for making people recognize and remember a brand, building a bond with them, and keeping them coming back. 

Among the myriad pitches showcased, one entrepreneur stood out for the genuine emotions he conveyed. Ganesh Balakrishnan's emotional journey in Season 2 resonated deeply, catapulting him to overnight success. Despite founding his brand in 2019, the pandemic posed significant challenges, leading to personal and financial strain.

Ganesh's heartfelt breakdown during his pitch, disclosing his firm's struggles and personal investment of Rs 35 lakhs, struck a chord with the audience.

Though Ganesh declined investment offers from two sharks, Peyush Bansal and Vineeta Singh, his resilience and optimism left a lasting impression.

Vineeta and Anupam Mittal commended his determination, garnering admiration from both the sharks and viewers alike. Within 48 hours of the episode airing, Ganesh's entire inventory was sold out, illustrating the profound impact of emotional marketing. Additionally, he secured an angel investment outside the show, underscoring the potential success when emotional storytelling is executed with authenticity and sincerity.

#3 Authenticity and Transparency are the new keywords

Being honest and genuine is crucial in marketing. When you're transparent about your beliefs, products, and values, customers trust you more. If you dodge questions or hide information, people won't trust you. Even if the truth isn't what they want to hear, it's better than being misled. That's why transparency is valued in business.

A recent incident on Shark Tank showed how dishonesty can destroy trust. One deal ended up causing a lot of trouble because the company was accused of lying about their numbers. It's a clear example of how mistrust grows when a brand isn't honest.

On the other hand, there was an entrepreneur named Amey Desai who pitched a device to help people with Parkinson's disease walk better. At first, the sharks were unsure about his product and claims. But Amey stayed honest and confident, answering every question openly. His conviction and transparency won the trust of the sharks, especially Anupam Mittal, who was initially skeptical. Although Namita Thapar didn't offer a deal due to trust issues, Amey reassured her by mentioning top neurologists who advised him.

Thanks to his authenticity and transparency, he got offers from three sharks.

#4 Retention Marketing is the new playbook

In the most recent season of Shark Tank the most asked question - what is your retention rate?-  a key metric in marketing.

According to Shark Amit Jain, he bets on the founders who build 10 times better products which get customer retention and are visible in increasing profit pools and lower CAC (customer acquisition cost) over a period of time. 

One memorable example is Recode Studios, a makeup brand. They tackled the challenge of selling makeup by educating college girls through live sessions with makeup experts. This not only built trust but also addressed the doubts many Indian girls have about makeup brands. When the pandemic hit, Recode Studios adapted by holding flash sales, offering products for just Re.1 to clear inventory. This boosted customer interest and led to more sales during COVID. Aside from flash sales, Recode Studios uses influencers and referral marketing to attract new customers. They also organize offline makeup classes in fancy locations, giving attendees free products and meals.

These strategies helped Recode Studios grow their customer base and achieve impressive sales despite the pandemic's challenges.

#5 Play to the power of digital marketing

This might feel like a no-brainer but Digital marketing is crucial for modern businesses. Period.

Recently a pitch that got everyone’s attention was for an influencer-based app. The pitchers give an insight into their influencer-based payment card brand. With their unique business model these pitchers showed the true power of digital marketing. In a post-show chat, Anupam Mittal said, “Social media Influencers have become integral to brand marketing"

Another notable example is the Nomad Foods Project, founded by Aditya and Advaith, known for their bacon thechas and relishes. Initially, a significant 95% of their sales came from Instagram ads. Surprisingly, their Instagram advertisement caught the attention of Shark Tank India, earning them a coveted spot on the show and they went on to receive an offer from all 7 sharks!

The conclusion: As a brand’s founder or marketer, you always have to keep trying out new ways to integrate the right, authentic storytelling that makes people stick to your brand in the long term.

A Quick Message from Team Spreadd 🙌

Hi, We are Spreadd, a content-first company helping new-age brands leverage the power of social media distribution through hand-crafted content, relevant creators and owned distribution.

If you are looking to explore new ideas to get your brand the right online distribution and get more customers, we would love to speak with you,

We are waiting for you on the other side,

Team Spreadd.

Thanks for reading this issue of The Brand Advocate, we are bringing you hand-crafted marketing insights from the world of startups and businesses and delivering them straight to your inbox, every Tuesday.

See you next week,

Team Spreadd