22 Jan 2024
How to Take An Established Brand to New Markets
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Moonpig's Director of New Markets & Ventures, Alexander Toft, shared invaluable insights during the conference session on "Taking an established brand to new markets." Here are the key takeaways:
- Start-Up Mindset for Expansion: Established brands venturing into new international markets face the challenge of adopting a startup mindset. Experimentation and finding the right product-market fit become essential in unfamiliar territories.
- Overcoming Low Brand Awareness: Moonpig encountered hurdles such as low brand awareness and transitioning offline card purchasers to online platforms. The solution involves identifying target segments and effectively communicating the concept of online cards.
- Back to Basics Marketing: To address challenges abroad, Alex stressed the importance of returning to marketing basics. This includes focusing on a specific customer segment and promoting a singular, compelling use case, such as the ability to add photos to cards.
- Influencer Marketing Impact: Moonpig found success in international markets through influencer marketing. Leveraging influencers effectively demonstrated the online Moonpig experience and showcased the emotional impact of customized cards.
- Preserving Significance Amid Adaptation: Moonpig's triumph in global expansion lies in preserving the intrinsic significance of greeting cards while adapting digital features to suit the maturity of diverse markets.
🎧 Listen to the Full Session
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