Startups Magazine chats with Magalie Belmo, Head of Marketing at Primo Toys.
For those of you who are unaware, Primo Toys is the startup which broke Kickstarter's record back in 2016, three years after it was founded in 2013, when it raised $1,596,457 with its product Cubetto, a hands on wooden robot teaching programming children aged three and up.
What initially started as a 'scrappy prototype', ended up raising over $1.5m on Kickstarter. The funds were used to expand into e-commerce, grow the team and create a global shopping and distribution team. It sounds like a startup's dreams come true - so what's the secret?
Magalie Belmo, Head of Marketing at Primo Toy is responsible for the topline revenue and generating content marketing campaigns, turning traffic into conversions. Belmo's focus is on acquisition but her top priority is community management and brand.
Belmo offered her four top tips for startups:
- Have a great co-founder and team up early for a difficult journey
- Get loads of feedback, negative and positive
- Be absolutely passionate about the product - people will say no, so solve the problems they have with the product
- When you look into seed rounds, think about proof-of-concept fast
To succeed with crowdfunding, you need to have, well, a crowd of supporters. Primo Toys had 6,553 backers in its campaign. So how do you build a community as a startup?
"Have proof-of-concept ready for user testing, it is the fastest and cheapest feedback, you then also have a long-standing customer audience ready for commerical release," said Belmo, who went on to explain that a startup's priorities should be to operate a tight budget and build brand approval for a segmented group of people - your commercial audience.