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If its time to sell your SaaS, app, or other digital product business, listen to or watch this episode of Growth Stage now! Podcast Full Interview: Audio Listen online or find it on more podcast services. So it’s a marketplace, it’s a platform. Jump to video. | Jump to transcript.
It may seem like a simple decision, but there is a lot of complexity in a two-sided marketplace where people are expecting to get paid. The marketplace was doing well. We were growing, but there was still a lot of friction in the product. Why don’t we take Atlanta, a smaller market and just test it there?
For example, a minimum number of maintenance technicians would be critical if you sell a field service app. Productmarketing and sales enablement teams need to work with knowledgeable people across the business to capture this information. Marketing or productmarketing. Product management.
It starts with self service. We don’t call up travel agents, we book it ourselves. And I think our ability to deliver those experiences without barriers, creates that conversation with the product. And so that was really about giving an even playing ground for for companies to navigate the policy market.
Across social platforms like Facebook, Instagram, Twitter, LinkedIn, and Youtube, standard placements for display ads are: Stories Timelines Video feeds Right column (Facebook) Marketplace (Instagram) Explore section Messenger inbox and sponsored messages. Think of it as your typical marketing funnel. Image courtesy of Kajabi.
The current product led growth (PLG) trend didn’t come out of nowhere, and neither did the more general direct-to-consumer business model. If we time travel back about ten years, we can see the roots of both of these movements, which harness data to power marketing and drive growth.
Mark has been in and around productmarketing and sales for over 30 years. So we do a lot of work where brands or retailers come and say, “Hey, we want to get some free product out into the marketplace and have some folks actually build reviews around it.” I can’t travel.”
We are a business travel management and a new model for corporate T&E. We are very much a different model in that we’re one platform where you have your booking travel, your consumer-like interface married to your world class travel agents all in one. Second, productmarket fit. We have a map.
At the time, there may be four or five other firms doing this same strategy of investing somewhere between $500,000 and $2 million into companies that were just getting started we would call it pre productmarket fit. But we think of it as being sort of CO conspirators with the founders pre-productmarket fit.
Whereas Facebook’s overall vision relies heavily on third-party developers having access to user data, Workplace wants to be the app that’s connected to all your other apps and a highly curated marketplace that has the best SaaS applications in the world. Different visions for different products. We do have integrations with some apps.
Early stage, there’s going to be demand risk and productmarket fit risk, but later the risk is about the ability to scale. What do we think will happen when there’s a conflict around direction of product? Or how the customer service team is going to deal with companies that aren’t renewing as planned?
The biggest companies on earth spend billions of dollars on this service no one’s ever heard of called freight forwarding and they all hate their vendors. So we never should have even been a, we’re in multi sided marketplace. So we have this enormous market. And the reality is we’re in a service business.
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