Introduce your business and what you do there.
I’m the co-founder and CEO of a social networking app called Grouped, which is designed to enable leaders to create communities.
OPPORTUNITY / CHALLENGE
What challenge were you trying to address with NineTwoThree Digital Ventures?
We needed help with building our prototypes, digital architecture, user stories, and wireframes. Basically, we wanted someone to help us create something concrete with our ideas.
What was the scope of their involvement?
We first shared our designs with the team. NineTwoThree Digital Ventures then delivered all the technical documentation we needed to build our app natively on iOS, Android, and the web.
Then, the team built a prototype, which included over 100 user stories. They used Figma and designed a logo, color scheme, brand identity, and several screens. We regularly provided feedback, which they used to finalize their deliverables.
Finally, NineTwoThree Digital Ventures then helped us conduct customer discovery and research by conducting interviews with potential users.
We then presented their plans to our in-house development team, who used NineTwoThree Digital Ventures’ plans to develop the app.
We plan on launching it on the App Store in April 2022. The app has a unique chat function and features in-app payments.
What is the team composition?
Our main point of contact was Andrew (CEO), who managed the project. We also worked with Pavel (CTO), Sasha (UI/UX Designer), a teammate who built the user stories, and another person who helped us conduct research.
How did you come to work with NineTwoThree Digital Ventures?
We found them on Clutch when we were searching for development agencies. We interviewed a bunch of vendors, but NineTwoThree Digital Ventures stood out because they were very personable.
On our initial call, both Andrew and Pavel were present. They promised to be heavily involved in the project, which said a lot because they were the owners.
How much have you invested with them?
We spent $250,000.
What is the status of this engagement?
The project lasted from August–November 2021.
What evidence can you share that demonstrates the impact of the engagement?
Ultimately, they helped us raise money. Our investors were very impressed with their work.
Furthermore, our in-house developers were thrilled with the documentation the technical documentation they provided. NineTwoThree Digital Ventures freed us from having to conduct research and focus on app development.
How did NineTwoThree Digital Ventures perform from a project management standpoint?
Their excellent project management was the best part of working with them. NineTwoThree Digital Ventures was very quick and kept us involved in every step of the process.
It was a six-week process. We had biweekly Zoom meetings where they presented us with what they had done in their latest sprint. Additionally, we used Monday.com, Slack, and Figma.
What did you find most impressive about them?
NineTwoThree Digital Ventures treated our project like it was their own, which we really appreciated. Their communication skills were also fantastic.
Are there any areas they could improve?
Sometimes they made some feature suggestions that we didn’t necessarily want. However, they were a very passionate team who cared about our product, so that wasn’t really a bad thing.
Do you have any advice for potential customers?
Be very open and honest with the team. I recommend reaching out and laying everything out for the team. They’ll be flexible with you and give you the best experience.
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.