TV exposure still rocket fuel for businesses
The power of television can still bring hundreds of thousands of new customers to your website, according to a tech entrepreneur.
London-based Deepak Tailor succeeded in gaining investment from Deborah Meaden when he went on to Dragons’ Den in 2015. The show was broadcast a year ago.
Approached by researchers about appearing beforehand, he asked for £50,000 for ten per cent of his company, Latestfreestuff.com, a website that brings together free product offers.
Despite his stint since being labelled “the best pitch ever” on YouTube, Tailor told BusinessCloud he didn’t really need investment, having built up his business to £250,000 revenue, with £20,000 profit, without a marketing budget and from his bedroom.
“We weren’t in a situation where we were struggling, it was more to try and bring more brands in because we were doing well with the acquisition of consumers,” he said, adding that his success had come from the number of people who type “free stuff” into Google and the need for brands to road test new product launches.
Though he shook hands with Meaden on the show, the investment failed to go through following due diligence.
“We both decided not to go through with it afterwards, there were a few things she disagreed with and I disagreed with,” he said.
Yet, as is the experience of others, the exposure helped Latestfreestuff.com gain 65,000 visitors in just ten minutes – a shock, Tailor says, because “I assumed people watch everything on catch-up like me" – and 200,000 new members signed up.
The site is now used by 500,000 consumers a month and Tailor launched Latestdeals.com in October, capitalising on the popularity of voucher sites like Groupon.
Another former pitcher on the hit BBC show told BusinessCloud that tech businesses are better off shunning it as its products cannot be piled high in a supermarket like Reggae Reggae sauce.
Now based in Tower Hills, next to the Shard, Tailor said he has no regrets.
“Personally I do think it’s more difficult for tech companies on Dragons’ Den, which was something that concerned me before I went on – I’d watched all the episodes as preparation and there didn’t seem to be too many websites on there,” Tailor said.
“I didn’t know how they’d take it because I knew their expertise was in bringing products to market, but that didn’t come across in the Den and they seemed to understand it well.
“I’d definitely do it again just because the experience taught me a lot about my company. Now I can walk into anywhere and do a pitch because I’ve done it on Dragons’ Den.”
The entrepreneur behind a leading wearable technology brand has described his appearance on Dragons' Den as "the best focus group".