- Serial entrepreneur Gary Vaynerchuk is going after direct-to-consumer startups and established companies alike with a new e-commerce consultancy, VaynerCommerce.
- VaynerCommerce, a part of Vaynerchuk’s ad holding company, VaynerX, counts Mondelez and Flow Hydration as clients and charges on a project basis, with fees going up to $250,000.
- Vaynerchuk says startups, fueled by venture funding, have focused on short-term growth and risk hitting a wall just as the capital is drying up.
- In its pitch deck, VaynerCommerce says it uses engineers, designers, growth, product, and data experts and takes a holistic approach to customer growth.
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Serial entrepreneur Gary Vaynerchuk is starting a new e-commerce consultancy, VaynerCommerce, aimed at direct-to-consumer startups and established companies alike.
VaynerCommerce is the latest addition to Vaynerchuk’s ad holding company, VaynerX and was formed from the acquisition in February of a 20-year-old company called Lucid Fusion. Forty-person VaynerCommerce is led by former Lucid Fusion executives Zubin Mowlavi as president and Ben Fried as CTO. Shopify vet Robbie Deeks is chief commercial officer.
VaynerCommerce charges on a project basis, from fees starting at $50,000 for a “commerce transformation audit” to $150,000 for a Shopify Plus build to $250,000 for “End to End Growth + Tech Engagement,” with retainers available. Its clients include Oreo maker Mondelez and water startup Flow Hydration.
Vaynerchuk says a lot of startups, fueled by venture funding, have focused on rapid growth using social media advertising and are in danger of hitting a wall just as the capital is drying up.
“They were swimming in cash and throwing it at Facebook and Instagram,” he told Business Insider. “I’ve been yelling, what’s going to happen when you can’t raise more capital? A lot of them are vulnerable. They’re going to need sustainable e-commerce.”
His pitch is that he can help them build lasting businesses online using a mix of tech, data, design, and product experts using an approach that looks at all steps of the customer journey.
Scroll down to read the VaynerCommerce pitch deck.
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Gary Vaynerchuk is adding a new consultancy to his ad holding company, VaynerX.
His pitch is that he can help companies that have ignored customer loyalty in favor of fast growth.
He’s pitching startup and established companies alike.
Vaynerchuk says his focus is on building lifetime customer value.
The pitch is that brands are struggling to grow sustainably because their investors encouraged them to chase short-term sales.
VaynerCommerce says companies have to change how they work, measure success, and the value they’re delivering to customers.
Vaynerchuk says startups got addicted to cheap Facebook and Instagram advertising at the expense of customer loyalty.
VaynerCommerce uses the “blind men and the elephant” parable to make the point that various experts only see one part of the solution to growing e-commerce.
VaynerCommerce argues that marketers have steered brands using the wrong metrics.
VaynerCommerce claims its approach is based on two years of research into the impacts of these metrics on a company.
The consultancy argues that by using flawed measurement and accounting systems, brands have sabotaged their ability to grow customer loyalty.
VaynerCommerce says there are too many media buyers, while it has the engineers, designers, growth, product, and data talent to solve companies’ problems.
The firm claims it’s “changed the game” with a holistic marketing approach for brands to acquire and keep valuable customers.