While direct-to-consumer growth has exploded over the past year, some brands feel there is still plenty of room to build more direct relationships with their customers.
Sydney-based Okendo has made a splash in this world by building a popular customer review system for Shopify sellers, but it aims to expand its ambitions and tackle a much bigger problem with its first external funding – allowing brands to manage their own business. Helping you increase quality first-party data and loosen your reliance on tech advertising kingpins for customer acquisition and engagement.
“Most DTC brands are still heavily dependent on Big Tech,” CEO Matthew Goodman tells ClearTips.
Collecting more customer review data directly from consumers has been the first piece of the puzzle, with its product that helps brands manage and display customer ratings, reviews, user-generated media, and product queries. Going forward, Okendo wants to help firms manage more of the web of cross-channel customer data they have, standardize it, and allow customers to have a more personalized experience when they shop with them.
Merchants have goals and want to better understand their customers. Goodman says. “As soon as a brand reaches a certain level of scale, they are dealing with cumbersome data.”
Goodman says Apple’s App Tracking Transparency feature and Google’s pledge to end third-party cookie tracking have prompted some brands to get more serious about scaling their own data sets so that any To save himself from sudden movement.
The company, which needs more coins in its coffers to meet the challenge, raised its first funding since its launch back in 2018. They have raised $5.3 million in seed funding led by Index Ventures. 2020 was a big growth year for startups, as e-commerce spending increased and sellers took a more careful look at how they were scaling up. The company tripled its ARR and doubled its workforce during the year. Goodman says the bootstrapped company was profitable at the time of its growth.
Today, the company boasts over 3,500 DTC brand customers in the Shopify network, including giants such as Netflix, Lego, Skims, Fanjoy, and Crunchyroll. Goodman says the startup will look like its next product launch, but plans to jump into two new areas over the next 12 months.