In this episode of The SaaS Brand Strategy Show, DashLX co-founder Adam Stepanovic relays the struggles and breakthroughs associated with defining and establishing the Lived Experience (LX) category, and how the work of DRMG assisted in that journey.
How is it that a category-founding idea, with product-market fit, paying customers, and an all-star advisory board gets zero bites from 150 funding pitches?
Then what changed that helped them secure a $2.5 million seed round in a down market?
DashLX (formerly PWR Lab) had identified a real need, develop proprietary technology to enable the solution to that need, and had caught the attention of major brands, but how they were telling and selling their story failed to engage and excite the types of investors that a disruptive, tech-based, category-defining idea should.
No one was buying what they were selling, because they were selling product, technology, features, and short-term market opportunities. That disconnect was crippling their ability to evolve and grow, because that’s not what funders fund.
With help from DRMG, DashLX’s team was able to develop the proper context from which to tell and sell the story about the idea and the opportunity. Through the work, they were able to name the new category, Lived Experience (LX).
In this episode of The SaaS Brand Strategy Show, DashLX co-founder Adam Stepanovic relays the struggles and breakthroughs associated with defining and establishing the Lived Experience (LX) category, and how the work of DRMG assisted in that journey. We discuss the history of DashLX, from the inception of the business idea, to the road to their first customers, to our collaborative creation of the Lived Experience (LX) category in tandem with Christopher Lochhead from Play Bigger, Category Pirates, and The Lochhead on Marketing Podcast.
Strap in for the ride as we grill Adam on his team's most recent peak, their $2.5 million seed round, and the very beginning of their road to even more legendary greatness. If you're curious about the benefits of SaaS Brand Strategy, Adam's tale will help clear up any questions or concerns.
Similar to how UX sits on top of tech stacks, LX is a human ETL layer for wearables, sensors, and apps. LX captures and combines disparate data from health, behavior, atmospheric, and equipment into one seamless stream of holistic intelligence; Between and among the brain, the body, the equipment, and the environments in which we live, work, and play.The company they founded is DashLX, incorporating the category name in order to further own the category. The exploding adoption of wearable technology use has turned humans into living, breathing, real-time sources of our most personal and precise data. The applications of which are endless. A new layer of understanding.
In the world of B2B SaaS, the excitement of creating a new category must be tempered with the reality of clients' immediate needs. By balancing long-term vision with short-term solutions, companies can ensure their category strategy supports, rather than hinders, their sales efforts. This approach not only helps in closing deals but also builds a foundation for sustained success in the new category, enhancing SaaS positioning effectively.
Read More →Following the launch of the Spatial Computing category, Personal Intelligence System is the second recent example of Apple embracing and crushing category strategy.
Read More →Schedule an in-person clinic on DRMG's Category Strategy.
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