5. How Privy Works
1. Existing
Assets
Website
2. Ad Spend
Pick a Promotion. Distribute. Get Customers.
6. What We’ve Learned
• Merchants Need Inertia
– 62% didn’t know what promotions to create
– 53% couldn’t choose 1+ locations to distribute
– 91% didn’t know what to expect
• Merchants Want Solutions (Duh!)
– 80% close rate for in person sales
– 43% create multiple campaigns
– 250% month to month growth over 8 months
7. Key Insights
1. Suggestions yield confidence, nothing more
2. Power to choose is crucial
3. Qualitative expectations are as strong as
quantitative
4. Interface is more important than functionality
to start
13. (And Deliver)
• 126 claimed offers in 4 weeks
• 90%+ were new email addresses
• 60% redeemed within 5 days of claim
• <5 minutes to create and distribute
14. So What’s the Takeaway?
“Local advertising sucks.”
Local Business Owner
Offers Ad Networks Social Inbound Directories
14
15. Our Solution
CLOSING THE
LOOP AD CREATION
Offers customized
Claim/buy offers online against data &
and redeem in local business intent
stores with smartphone
AD
DISTRIBUTION
“Business-first”
consumers
Contact information – will show this again at the end
Privy – automating advertising for local businesses. Syndicated distribution of “business first” offers based on business data.
Lots of attention on: Serving local consumers through useful search/serendipity functions (e.g. Foursquare)Then creating ad networks and buyable products (like advertisements) that SMBs “ought” to buyNot a lot of attention on:Creating sustainable advertising services that actually help the SMB (like Constant Contact did for email)
Very, very simple. Takes fewer than 2 minutes to complete.
Business said:They didn’t know where to startDidn’t understand which places to distribute and whyHad a qualitative understanding of what would be successful but not quantitative.
Confidence is the name of the game with merchants. If they aren’t confident they are afraid and if they’re afraid they won’t use your product.It’s their business. They don’t want to do more work, they want to make better decisions.Numbers don’t matter as much as anecdotes.If it isn’t fun, it isn’t going to happen.
We added data-driven suggestions by vertical so they have a starting place.This offers them context
Allow the merchants to edit if they want. Very few actually do.
Our merchants understand that there will be a certain number of customers from each distribution point. It trains them to come back and look (which gives us validation).
Stone Hearth loved how this looked. Seeing it on their site made it real for them.
Solid numbers for this customer.
Too many options makes it overwhelming to start – it’s scary. They need help navigating this market.
