Entrepreneur Nick Stevovich discusses marketing strategies

By: Adam Schabel

Oct. 29, 2018

The American Marketing Association hosted Nick Stevovich, founder of Nikola Innovation, at Cleveland State University Tuesday, Oct. 16. Stevovich talked about his experiences with entrepreneurial marketing, what is needed for a successful startup and the challenges of attempting to start a company.

Nikola Innovation manufactures bike pedals for people with knee issues. According to the company’s website, the pedals are “designed to optimize your power and reduce your knee and hip pain.”

“What makes startups successful?” focused his speech. Stevovich identified four main themes regarding the production of successful startup companies.

He said the first step is to have a good idea, noting that without a good idea, you won’t get too far in the process. The second step Stevovich identified is to have a product and the third step is to have a team.
Stevovich explained that the team must figure out a plan to properly manage the money it must raise for the startup.

The last step is marketing and this entails reaching the customer, he said. Stevovich added that a company’s message constantly grows and evolves as the company develops and changes.

Stevovich then discussed the importance of a unique sales proposition and the value that it brings to the company. For example, Nikola Innovation’s slogan is “It feels natural.” Stevovich said that this statement increased sales because customers liked the idea that his product was “natural.”

Stevovich then spoke about two books he considers worth reading for people on the creative side of marketing who have to deliver the message.

The first book, “Scientific Advertising,” by Claude Hopkins, explains how to sell and how that is the most important aspect of a company.

The second book discussed, “Traction – How Any Customer Can Achieve Explosive Growth,” by Gabriel Weinberg, discusses how to build a product and get “traction” at the beginning of a startup.

“You will crash and burn a million times,” Stevovich said. “You just have to pick yourself up and keep going.”


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Entrepreneur Nick Stevovich discusses marketing strategies


 
 
 

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