Challenge
A new enterprise in the eCommerce space ideated a unique and revolutionary way for customers to “try on” clothing virtually by comparing new items with attire known, loved, and owned by the customer. It was getting investors to experience this vision in a meaningful, and interactive way that showcased the value of their creativity and the impact of their user experience. This startup was ready to take the next steps in their growth journey and needed a way to showcase the interactive eCommerce experience they had built.
Solution
“An investor pitch should be passionate and last less than two minutes” according to authors Peter Daly and Dennis Davy of “Crafting the Investor Pitch Using Insights from Rhetoric and Linguistics”. With this in mind, Crowd Favorite created a design that would capture the entrepreneurial spirit while fully submersing would-be investors into the user experience highlighting the key differentiating factors in this new concept.
Results
The concept for creating a new interactive eCommerce experience that reduces returned items is highly technical and relies on multi-layered business partnerships. However, technical and business agreements will not thrill investors during a pitch. The user experience captures critical elements which differentiate value to consumers and investors. Therefore, having a well-designed prototype immerses would-be investors into the entrepreneurial vision.
In "What Investors Look For In A Prototype?", Jesus Martin sums up the struggle with investor pitches succinctly, "with so many ideas and startups creating new and innovative products, investors need to be able to visualize your idea first in order to get convinced that it has potential."
"With so many ideas and startups creating new and innovative products, investors need to be able to visualize your idea first in order to get convinced that it has potential".
- Jesus Martin, "What Investors Look For In A Prototype"
According to McKinsey research, there are four components of a successful design endeavor. Namely, it must start with company leadership and investors, it must span the entire organization, it is adaptive to change, and it is about user experience. When a company is successful at all four of these components, their return on investment (ROI) for shareholders is 31-75% higher than companies that only hit some of these marks.
The ideation process captured three of the four components that McKinsey recommended for maximum returns. However, they needed to address the user experience through quality design and prototyping. Crowd Favorite chose to showcase the prototype using InVision, allowing for an interactive demonstration without the additional cost of developers to build a functional prototype.
Crowd Favorite started with a visual strategy, followed by key mockups demonstrating the unique parts of the idea, built InVision to allow for interactive prototyping and demonstration capabilities. The result was a stunning visual representation of the clothing startup's vision leading investors to understand the value for retailer partners and how the idea contributes to consumer value.
We are ready to help bring your interactive eCommerce experience to life, contact us here to get started!
What Our Clients Say About Us
“You guys nailed the design - I love it and it just reminds me of why I love Crowd Favorite. I can't wait to see it come to life!”
John Trefethen, CMO, Heru
“The Crowd Favorite Team is professional, knowledgeable and excellent at communicating, we are grateful for the opportunity to work with such a skilled team.”
Sara Mannix, CEO, Mannix Marketing
“The best thing about Crowd Favorite is that they step back and consider what your needs truly are make intelligent, considerate and creative suggestions based on their own extensive experience.”
Steve Dembo, Strategy, Discovery Education
