This episode of Chew on This features Sahand Dilmaghani, CEO and founder of Terra Kaffe, a high-end espresso machine company. Sahand discusses his journey from investment banking and electric vehicles to creating a luxury coffee product, highlighting the challenges and successes of building a hardware business. He emphasizes the importance of strong customer relationships, community building, and data-driven marketing strategies in overcoming the unique obstacles of a high-ticket item in a crowded market. The conversation covers product development, marketing channel selection (direct-to-consumer, Amazon, retail), customer acquisition costs, community building on Facebook, and fundraising. Sahand shares valuable lessons learned, including the importance of staying close to the customer and avoiding perfectionism. β Building a High-End Hardware Brand: Sahand details the complexities of designing, sourcing, manufacturing, and marketing a premium-priced espresso machine, emphasizing the iterative design process and the importance of early market validation. π Data-Driven Marketing & Customer Relationships: Sahand showcases a unique approach to marketing a high-ticket item, relying heavily on strong customer relationships, word-of-mouth marketing (30% of sales attributed to it!), and a vibrant online community to drive sales and brand loyalty. This approach allows for direct feedback, informing product development and marketing strategies. π£οΈ Community Building as a Marketing Tool: The power of a strong, engaged customer community is emphasized. Sahand shares how he uses his personal cell phone number to connect with customers and leverage their enthusiasm for word-of-mouth marketing, creating an βunfair advantage.β π° Fundraising and Financial Discipline: Sahand discusses his approach to fundraising, emphasizing the importance of having a clear vision, setting realistic milestones, and being judicious in capital allocation. π€ Lessons Learned: Sahand shares a key learning - avoiding letting perfectionism hinder progress and emphasizing the importance of getting the product βdoneβ and then iterating based on feedback. 0:00 - Intro β1:10 - Sahand's background in hardware creation β2:05 - Transition from finance to a startup β3:08 - Personal experience with consumer preferences in the coffee market β4:20 - Building a technology moat in a visceral purchase category β6:02 - The complexity of hardware development β8:09 - Validation of product-market fit through consumer engagement β11:09 - Launching the first version of the product β12:14 - Testing new channels β15:12 - Challenges marketing against established legacy brands β17:00 - Evolution of marketing strategies over the past 5 years β18:20 - Community-oriented approaches drive significant interest β19:18 - Engaging with the community to understand consumer needs β20:27 - Customers as brand evangelists β22:13 - Importance of customer feedback through surveys β24:11 - Identifying growth opportunities to overcome market challenges β25:04 - Building social media communities to enhance customer engagement β27:02 - Amplifying marketing efforts through word-of-mouth β28:04 - Importance of fiscal discipline β34:57 - Understanding the audience is key 35:08 - Final chew Sponsored by: π¨ Sendlane - Tired of paying for hosting unnecessary contacts on your email list? Thats why we switched to Sendlane where we are only charged for the number of contacts we send to. You will unlock huge savings by signing up with them. π https://sendlane.com/chewonthis Follow us, subscribe to our newsletter, and to see our exclusive merch check out https://chewonthis.io/ Ron Shah - https://twitter.com/obviceo Ash Melwani - https://twitter.com/ashvinmelwani Chew On This - https://twitter.com/chewonthisdtc
On Purpose with Jay Shetty
Iβm Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and Iβm so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood youβre able to deal with relationship struggles, work challenges and lifeβs ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them weβve never seen before. New episodes every Monday and Friday. Your support means the world to me and I donβt take it for granted β click the follow button and leave a review to help us spread the love with On Purpose. I canβt wait for you to listen to your first or 500th episode!
Dateline NBC
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If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.