The average storefront is spending 10 -15,000 dollars a year on advertising. I know because I grew up in a family with two small businesses owners, and watched them waste tons of money on Yellow Pages and other crappy services with no clear outcome. If you ask any of them how many customers they get, they literally have no idea.
With Privy, there’s never a doubt. We deliver customers, not clicks. In fact, 30% of the leads we generate walk into our merchant locations and spend real money.
And merchants are certainly willing to pay for customers. On average, our merchants pay us $3,000 per year and we recoup the cost to acquire our merchants in the first 3 months of beginning a recurring subscription
So how does it work. From start to finish, the process takes 2 clicks. All a business needs to do is upload their specials
And set their advertising budget. That’s it
Behind the scenes we use the specials to automate ad buys across search, social and mobile and interested consumers can redeem the specials in-store using their phones, fully closing the loop
Our results are focused on customers, not clicks –merchants can easily understand how many customers they got, wether they’re new or repeat, where sales came from, customer names and email addresses for remarketing, and whether or not they came in to one of their locations and spent real money
Take Jonathan – the owner of Stone Heartth. He’s our sweet spot customer. Multi unit operator with 4 locations, money to spend, but doesn’t know what to doSo far, We’ve driven 480 customers at an average visit of $25 which nets $12K in revenue. At a cost of $400 a month for 6 months, that’s a total of $2,400 paid to Privy. Thats a 5X ROI. Jonathan’s pumped because now he can focus on what he really likes to do – making awesome pizzas
Since october, with one inside sales person, we’re doing $100,000 in annualized subscription revenue.
In 12 months with 3 inside sales people, we’ll be generating $1.7 M in annual revenue across 330 merchants and our average subscription will climb to over $4,000 per year
We’re currently raising a million dollar seed round of which $800K is already spoken for. We’re bringing together the best in the industry including founders and execs from homestead,Hubspot, Wildfire, and constant contact.
If you want to help close the loop in local merchant advertising, come talk to the guys in yellow shirts: Founders @getprivy.com