Brand leaders in the existing social media platforms have to fight against ads and the algorithms to truly build and engage their online community. Followers and potential customers are overloaded with content rather than focusing on what they actually opted-in to see. The platforms are inundated with information; consequently, that creates a large gap between the brand and follower. This hinders brands from closing more sales and for potential customers to stay up to date with their favorite brands. Grouped is a platform where brands get full control over their audience and are able to create online communities that promote lifetime customers. In turn, the audience can receive a truly personalized feed of information and get exclusive information about the brands they love.
The business model Grouped has is a two-sided marketplace. This is a type of platform that brings sellers and buyers together to create and exchange value. They have become increasingly popular over the years - think Lyft, Airbnb, DoorDash. This article explains the two-sided marketplace in more detail. The main challenge Grouped faces is the infamous chicken-or-egg problem that comes with a two-sided marketplace business model. How do you get the sellers to use the platform if there are no buyers, and vice-versa? Building that initial community of buyers and sellers to kick it off is the most difficult problem Grouped faces today as they prepare to launch.
Co-Founders Finn Hodgins and Claire Nolan approached NineTwoThree with the concept and together created the foundation. Grouped is now in the midst of bringing it to market as fast as possible and that in itself is a solution to the two-sided marketplace challenge they face. Obtaining the first functioning version of the app - the MVP - with little money and time investment allows for it to rapidly get in front of the target market. Research is then quickly gathered, which aids in finding the appropriate niche for the platform. This is used to address any obstacles keeping buyers and sellers from utilizing the platform.
Grouped provides a more authentic way for brands and potential customers to interact. This greater sense of community builds trust and loyalty that results in more sales, higher lifetime value and better customer retention. To learn more on how Grouped is doing be sure to visit their LinkedIn for updates.