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Fanminder Presentation






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  • My name is Paul Rosenfeld and I’m the Co-Founder and the CEO of Fanminder.Like many passionate entrepreneurs, Tracy Grover and I quit our jobs in the teeth of the recession at the end of 2008 with the vision of harnessing power of mobile and social marketing to help local, small businesses not just survive but thrive and beat the big guys.
  • As the General Manager of QuickBooks Merchant Account and QuickBooks Online Edition I saw first hand how local restaurants and retailers spend $130 Billion a year to acquire new customers using expensive marketing, but spend much less to keep those same customers coming back.That’s because they don’t have time, they didn’t go into business to be a marketer they went into business to be a chef or a masseuse, and their fans keep getting harder to reach as they spread their attention and contact preferences among Facebook, Texting, Twitter, and yes, even email. They’re not minding their fans.Because of this, the local shopkeeper is in acute pain of leaving money on the floor, not growing as fast as they could.This is a $4BN opportunity awaits to be unlocked for the RIGHT company who has a DEAD SIMPLE WAY to help local businesses easily market to their customers.What they do: a little bit here and there: punchcard here, a Fb post there, an email newsletter over here every six weeks.falling response rates from their investment of time and money. Slower revenues and wasted money is a big problem so they get into deeper water by doing expensive Daily Deals.The root cause of this problem is that their price promotions rely on PAPER (stale offers, printed emails, no tracking so they don't know) which is totally out of touch with how the modern consumer is online and on their phones.And the problem is getting worse, because there’s more social ways than ever to get promotions out there, and competitors (like déjà vu) force you to keep up.Everyone is looking for killer geo loc app for local
  • Fanminder is creating today what most of you believe is impossible:Who's the first set of customers, then next set? First, restaurants, we're proving this out in the toughest end of the segment, then moving to personal servicesSo think ofFanminder as beginning where Groupon ends for small, local restaurants, retailers and services firms:We create simple, instant, promotions to existing customersIt’s completely do it yourself for one easy month price averaging about $50 for unlimited promotions.Here’s how it works.
  • First, we help them grow their fanbase by giving them a turn-key signage store, sign-up widgets for their website, and viral sharing on Facebook.Fans sign-up by whipping out their phone in the store and texting the business’ name to a special 6 digit number, or the fan can like the business on Fb or twitter.
  • Then the merchant can create an unlimited number of one-time use, trackable coupon or other promotion in about 60 seconds.
  • Thecoupon or special is published to the merchant’s mobile list via text message.
  • It’s published to the merchant’s Fb wall. And you’ll notice each promotion has a link to “grab this offer” to their phone.
  • They can place a Grab to Phone Button in their Email Blasts.By the way this is a real email and a whopping 1600 people clicked this button.
  • And they can place it on their own website.Do you see where I’m going with all this?
  • Every Offer creates a corresponding, dynamic Social Page.Each Grab to Phone button in email or their website, or the grab offer link in Facebook posts, they all link to the merchant’s very own Social Page.It’s easily branded by the merchant and virally shared by fans.And most important of all, it’s massively convenient for fans who would MUCH rather walk around with a coupon in their pocket than have to print an email or remember they saw something on the merchant’s wall.
  • And when they walk around with the merchants’ offers in their pocket, our grab-able coupons drive many more redemptions.Soimagine you and you buddy rush the store, show the coupon to the clerk, and the clerk asks you to simply text back the unique 4 digit code.Fanminder will check to make sure the coupon is still valid and send back this congratsmessage. This virtually eliminates any coupon fraud and enables the merchant to offer the very best savings possible.There’s no POS Integration needed.
  • Back in Fanminder, we track how much money the merchant is making with every promotion.I just showed you merchants easily create instant and trackable promotions that reach their fans anywhere and are redeemed in-store.
  • Traction: Actual customers/partners (or trials/beta list them w/ logos)I can also share how it’s creating revenues for our merchants and deeply engaging their fans with amazing response rates, redemptions, and ultimately store traffic.Savvy – 33% redemption ratesGiordanos– 520 mobile couponsEl Pelon – 45 person flashmob in 20 minutesVideo Rental – 40X response rate of emailWhat is customer satisfaction?
  • Target CustomersHow well do we know them?Campaign info for fans and merchants?Growing and converting subscribers XXMerchant usageSince launching in March,we are serving over 1,000 local restaurants, retailers and services firms and are adding about 400-500 per month from a mix of channels.We have over 100 paying customers who represent over 200 locations.We target youth oriented small merchants who are newer, looking to grow, using Facebook and other new media, and appealing to customers with promotions.Along the way we’re acquiring smaller chains who are seeking us out for our simplicity vs. more complex services.Customer UsageWe’ve sent 826 campaigns @ avg of 11.8 campaigns/customer and 52 texts/campaignCustomers have sent total of 615 texts eachCustomers are sending 52 texts per week and .36 texts per fan per weekWe manage 8,533 fans for 70 customers, an avg of 122 fans/customerOpt-out rates of 10-20%Lost only a handful of customers
  • How do we acquire them?Are channels competing with each other?We’re growing our customer base through a mix of strategic partnerships like Intuit, building our own resale channel, and expert blogging on the top small business blogs in the country. We’re crushing it in some channels and just getting started in others.We’re essentially having others finance our growth through 20-30% rev shares to the partners and resellers.We’vebuilt a growing network of 40 resellers who sell other services to small businesses like website design and hosting, credit card processing, or small, marketing agenciesWe just hired our first salesperson to call on larger multi-location businesses.And we’re building an online educational machine with being published on _______. Focus on small biz influencers, press, social gurus
  • We make money by growing a merchant’s contactable fanbase so they gain repeat revenues from Fanminder marketing.We take a small piece of this by charging a monthly subscriptionWe give a recurring rev share to the partner who sourced our customer.Our we pay a shrinking costs of goods will soon shrink to for messages…. very little as our volume scales and our marketing methods become a mix of FB, Twtr and other API-based marketing vs. solely SMS.Show pricingAnd we’re learning how to price for multi-location businesses.On the slide show customers and ASP, # of free, # paid customersEarly years: Units sold, ASP, headcount, cash burnOut years – top line revenue growth and marginsChains – if someone comes along, they have a world of mobile customers – 2011 it’s $250????? cost per customerSignificant opportunity to reduce expense by paying referral fee
  • Your sustainable competitive advantage (why you will win)Our competitors are mostly pt solutions and a few like CircleStreet that look like us, but we win becauseThere are some companies just like us:CircleStreet, SproutSocial… we beat them by:Easy to use b/c we know how to build easy to use softwareOut-executing – we’re armed with deep customer insights and traction and we know how to acquire small business customersUbiquityFanbase – Closely, CircleStreet10-20 Media15milesA.L. Phoenix Marketing & TrainingAditAll GroupAdmallAdvance InternetadzLocalAIMGroupAmdocsAmerican Consolidated Media American Press InstituteAR&DArchstream MediaAssociated Northcliffe DigitalAstral MediaAT&T Interactive/Yellowpages.comBank of America Belo Interactive MediaBIA/KelseyBizBuzz SearchBizjournalsBMP RadioBoardcertified.comBonneville CincinnatiBorder MediaBroadcast Interactive MediaBroadcasting and CableCalkins MediaCanadian Newspaper AssociationCastello Cities NetworkCatalyst InvestorsCBC New Media GroupCentroCharter MediaCitadel BroadcastingCity University of New YorkCitybizlistCitySquares.comClickable, Inc.ClickZCobaltComcast SpotlightComing Attractions TheatresCommunity Newspaper Holdings Inc.Cordillera InteractiveCoupons Inc.Cox Interactive MediaCyberInk and GoErie.comDataSphereDeluxe CorporationDigiFuturesDigital Media Metroland Media Group Ltd.Dow Jones Local Media GroupEditor & PublisherEdytor SP. Z.O.O.El ClasificadoeMarketerEmmis Interactive, Inc.Evening Post DigitalEW ScrippsFacebookFamily FeaturesFast CompanyFisher CommunicationsFox Audience NetworkGannett Co.Gatehouse Media, Inc.Godengo Inc.Gold Country MediaGoogleGrant BroadcastersGray Television, Inc.Greater Media InteractiveGrowth Spur.comHearst Media ServicesHouse & Home MagazineImagitasInergize DigitalInternet Broadcasting SystemsiPromoteJivoxJournal CommunicationsJournal Inc.Journal Register CompanyKaesu, Inc.Kelsey Family Holdings, Inc.Kenshoo LocalKeyword ConnectsKTVK/azfamily.comLangdon PublishingLBS LOCALLee EnterprisesLIN TV Corp.Local Matters Inc.Local ThunderLocal.comLocalezeLocalist.comLong Island Radio GroupMarchexMaroon VenturesMatchCraftMedia General Media Life MagazineMedia PostMediaSpan GroupMerchantCircleMerchEnginesMeredith CorporationMetroland MediaMicrosoftMindshareMissouri School of Journalism/Reynolds Journalism InstituteMixpoMorris Digital WorksNetNewsCheck LLCNetwork Communications, Inc.New ThinkingNew York Times Regional Media GroupNewsday Media GroupNewspaper FirstNovusNRM WEBOpus ResearchOutside.inPaddock PublicationsPaidContent.orgPaperGPetskyPrunier LLCPresslaff Interactive RevenueProfile America, Inc.RadioOneRaycom MediaRegent Broadcasting IncReply.comRGA, LLCSaga CommunicationsSalem CommunicationsSandusky Newspapers, Inc.Saskatoon Media GroupSAXOTECH, Inc.Scarborough ResearchSchurz CommunicationsSecond Street MediaShareThisShoogerSimulmedia Inc.Small Newspaper Group InternetSmartStream MarketingSNG Internet InnovationsSouth Central CommunicationsSouth Central MediaStarcomMediaVest GroupStateVentures, LLCSuburban Newspapers of AmericaSun-Times MediaSuperMediaSwift CommunicationsTactixTeenLife Media, LLCThe Berry CompanyThe Blinder GroupThe Buffalo NewsThe Cobalt GroupThe Free Lance-StarThe Laredo GroupThe McClatchy CompanyThe Observer GroupThe Poynter InstituteThe Press of Atlantic CityThe Sonoma Index-TribuneThe Tribune CompanyThe VindicatorThe Wall Street JournalThe Weather ChannelTime Warner Cable MediaTMP Directional MarketingTownnews.comTranscontinental MediaTribune 365Tribune CompanyTriton MediaTVNewsCheckU.S. Local News NetworkUniversal Business Listing.orgUSA4SALE Networks, Inc.VehixVillage SoupVMIXWashington Post DigitalWBIR-TVWBOC-TVWCAX-TVWCHL-TVWe-CreateWeather Central LLCWeb VisibleWFTV-TVWHA Publications LimitedWHEC-TVWorldNowWPIX-TVYahooYellowbook.comYodleZip2Save.com
  • Team/board – who do you have and what is their advantage/pedigree?exits, IPOs, sucessesIntuit, Amex….Team is assembled, has worked together for several years and has collectively decades of small business expertise.
  • Your “ask” or your close – what do you want? (A meeting, partners, referrals, beta customers, investors) To-date we’ve received $275,000 from 8 angels and are now ready for our Seed Round. So we’re putting together our package to raise at least $1MSo many of you are publishers and aggregators with a need for offering our simple service and we’re working now on a private label version due in January.Our main message to you is that we’re open to your opportunities. Thank you.
  • Your “ask” or your close – what do you want? (A meeting, partners, referrals, beta customers, investors) To-date we’ve received $275,000 from 8 angels and are now ready for our Seed Round. So we’re putting together our package to raise at least $1MSo many of you are publishers and aggregators with a need for offering our simple service and we’re working now on a private label version due in January.Our main message to you is that we’re open to your opportunities. Thank you.

Fanminder Presentation Fanminder Presentation Presentation Transcript

  • Fanbase Marketing for Local Businesses
  • Customer marketing is too hard – and getting harder
  • 3
    We begin where Groupon ends:
    Easily create and publish instant promotions that reach fans anywhere.
  • We Grow Their Fanbase
  • Merchant Creates Instant Promotions
  • Merchant Reaches Mobile Fans
  • Merchant Reaches Facebook Fans
  • Merchant Reaches Email Fans
  • Merchant Reaches Website Visitors
  • Fans Grab Offer to Phone
  • Offers Redeemed In-Store
  • Most Important #s Tracked
  • Validation In The Market
    Wine Retail
    600 coupons grabbed to phone
    33% redemption rate
    Video Rental
    45 person flashmob in 20 minutes
    40X response of email
  • Food & Bev
    Pizza Parlors
    Snack shops
    Quick Serve
    Serving 1,300 Small Businesses
    • Boutiques
    • Wireless
    • Wine and food sales
    • Fitness centers
    • Tattoo parlors
    • Auto repair
    • Martial arts
    • Day spas
    Surprise! Dozens of chains
  • Growing Distribution Channels
    To be named on Feb 1
    45 salespeople, agencies…
    Social + Press
    Inside sales
  • Recurring Revenue Business Model
    Fanminder pays partners & msg costs
    Fanminder charges monthly price
    Merchant gains repeat business
  • Unlocking Market With Simplicity
    Text message marketers
    Discovery apps
    Loyalty apps
    Focus on mainstream needs
    Traction from execution
    Facebook Deals
    Mobile Coupon apps
    Groupon Stores
    Google Places
    Fanbase Marketers
  • Team of small business experts
    Dustin Friel
    VP Engineering
    Experienced and Gelled Team
    Paul Rosenfeld CEO / Marketing
    Intuit, Amex
    Tracy Grover COO / Product
    LoopNet, BofA
  • How You Can Help
    Help us close our seed round
    Strategic Go to Market Partners
    Private label version launches January
    Advice, ideas, or just support …
  • Thank You!
    Paul Rosenfeld
    Call or text me: 650-544-5483