Growing Your Social Capital

Market expert: 
1.) I interviewed someone in my sorority who holds a leadership position in the club Green Greeks on campus. I chose this person to fill the market expert slot because although they aren't similarly targeting the same people I am to sell a product, they know a lot about this market and group of customers because they target them to join their club. It promotes environmentally friendly practices and discusses ways to fight climate change. I contacted her through the phone and she told me more about what she knows about the types of people I want to target with my product. Based on how environmentally-friendly my product is, she said people would definitely be interested and curious to know more about how it works. I would need to be prepared to answer more questions about that because the market, or at least club members, would definitely fact check me. 

Domain expert:

I emailed someone from Hummingbird Straws about the kinds of reusable, eco-friendly straws they make. After researching other straw alternatives online, I found Hummingbird Straws. They are domain experts because they have successfully created a glass straw that is reusable, very aesthetically pleasing (lots of cool colors and the glass is great), and good for the environment. I just asked for more information on what makes their straws the best on the market. I was told that their straws have many great features, one of them actually being that there's no BPA or toxins that seep into your beverage which usually happens with plastic straws! I didn't realize that. They are also made from a special type of glass that is shatter resistant and even stronger than normal glass so it can hold very cold or very hot drinks. 

From this expert, I learned that I need to fine tune my straw idea even more. I didn't even think about how very cold or very hot temperatures would affect the straw and need to make sure this straw would be able to hold up in any temperature. Their marketing was so good that even I wanted to buy one. Their straws even come with a cleaning brush.

Industry expert:

After some research, I found that there is only one big manufacturer of paper straws in the country--Aardvark straws. They are struggling to keep up with how many people are placing orders. I couldn't get a hold of someone at the company to reach out to, so instead I asked to call one of my friend's parents who works at Target, dealing with suppliers and distributing.  She is an industry supplier because she can manage and control what products Target chooses to carry and roll out in their stores, some of these products including straws!

She told me that Target has started carrying paper straws and plant-based straws, but from her experience people still purchase a lot of normal plastic straws. Individuals who are very environmentally-conscious have reached out to Target and asked for more straw alternatives in the past. After hearing my idea, she wondered how it differs from the plant-based straws that she has seen. Target also sells steel straws, and of course, plastic straws. On their website, there is a 100-pack of the plant-based compostable straws for sale for $3.99, while I remembered Hummingbird Straws sold four glass straws for around $20. Knowing the market I am targeting, I think I would have much better luck with prices similar to the plant-based straw company. 

Reflection:

This was the first kind of 'targeted networking' I've ever done and it was difficult! In future networking events, I want to be better prepared to answer questions that they ask back to me and also go into it knowing more of what I want to get out of them. Some of the conversations I had ended pretty quickly and I wished I had known more of what I wanted to specifically leave the conversation with. In the past, my networking experiences have been generally more friendly and not focused on a specific product. In the past, I've been more trying to just get some sort of internship or simply meet new connections for the future, so I've never marketed and discussed a specific product like this.