Kuala Lumpur, 6 November 2023 – In a remarkable journey spanning five years, 60sec has evolved from its humble beginnings as an overstock platform into a powerhouse of influencer marketing. This milestone celebration is a testament to the unwavering commitment, innovation, and dedication that have propelled the company to its current position of prominence in the world of entrepreneurship. Founded with a mission to simplify influencer marketing for brands, 60sec has evolved into an indispensable tool for businesses worldwide.

A Journey of Resilience

However, as they entered the market, they realized the industry was highly competitive and moving toward obsolescence. In a bold move, they pivoted to focus on the overstock industry.

This new direction led them to secure partnerships with industry giants such as Nike, Adidas, Puma, and more. While the products were ready for distribution, the challenge was to effectively market them, especially online. The limited capital they had necessitated a different approach: dropshipping.

Utilizing third-party platforms, 60sec ventured into the dropshipping market. While they quickly found dropshippers and customers, they faced another uphill battle – how to boost sales. After exhaustive trials, they concluded that the dropship in the Malaysia market wasn't quite ready for online sales.

Looking forward to the individuals who could not only navigate but also thrive in the online marketplace, 60sec's pivot towards becoming an influencer marketing platform.

Overcoming the Startup Learning Curve

Like many startups, 60sec initially struggled with the complexities of building a successful business. They were determined to explore the possibilities that entrepreneurship had to offer, having seen headlines about startups reaching astronomical valuations and securing massive investments.

Fortunately, they discovered the value of the GAP (Global Accelerator Program) community, which provided them with essential education, networking, and mentorship. They learned that many successful entrepreneurs had emerged from similar communities, saving significant time and resources.

Resource scarcity was another recurring challenge. As a tech startup, 60sec initially lacked a technical co-founder. However, they eventually found a technical expert who played a pivotal role in building the platform from scratch.

Funding was another perpetual hurdle, along with cash flow issues that made it challenging to pay salaries. It was during these trying times that angel investors stepped in, believing in 60sec's mission and providing their first crucial investment.

The Path to Product-Market Fit

60sec's journey to becoming a successful influencer marketing platform was marked by continuous experimentation. They faced various questions, such as which problems to prioritize, how to monetize their product, and how to scale effectively. The pivotal question that arose was about their positioning in the market.

As they learned, customers often expected solutions with minimal or no budget, given 60sec's lack of clear positioning. Growth began when they identified and communicated their positioning, making it clear what they offered and how they solved problems for their clients.

This change allowed them to define their target customer, find them, choose the right channels, calculate customer acquisition costs, and understand lifetime value and churn rates.

As 60sec celebrates five years of entrepreneurial resilience, it shines a spotlight on success stories featuring its platform's impact on brands across various industries such as fashion, health and beauty. Using the 60sec platform, brands have been able to reach and engage with nano-influencers effectively.

A message of Resilience and Hope

As 60sec reflects on its journey, the message is clear: the entrepreneurial path is fraught with challenges, but determination, learning from the right resources, and understanding your positioning can lead to success. Today, they proudly stand as a self-sustaining business, even after navigating through the challenges of the Movement Control Order (MCO).

For additional case studies spanning different industries and showcasing the diverse range of success stories enabled by 60sec’s influencer marketing platform, please visit the official 60sec website at https://60sec.asia/. These case studies offer further insights into how businesses across various sectors have leveraged the platform to achieve their unique goals and successes.

This content is provided by Elliot & Co.

The views expressed here are those of the author/contributor and do not necessarily represent the views of Malaysiakini.