Hi all, I have a question. I'm an engineer/designer who likes to build products. I have 2: joyline.io & thriverstudio.com However, I have zero knowledge or desire for marketing. Ideally I'd like to find someone who can handle that side of the business for me, and accept payment in the form of commission and/or equity. Is commission based marketing-as-a-service a thing, or should I look into getting a loan and hiring someone? Thanks
08/14/2022, 7:01 AM
marketing is really complex that it's worth offering a fixed rate than just commission. It takes a lot of hard work seeking for the leads and converting them to hire your service or build products.
For you products, I guess, what I can recommend is to create a referral program in which your patron get either get a discount, additional freebies or a small amount of money every time they are recommending your product. Basically, you can provide the option in their profile for instance to have a referral link so every time there will be a signup through them, the points/ rewards will go to them and they will be compensate by that. Another thing I can recommend is to find a YouTube influencer/s related to your niche, make a pitch and ask them if you can send a sample of your product and that they will be promoting it on their video which is also related to the function of the product, you will provide a referral link to the influencer and every purchase, the influencer will earn a commission.
08/15/2022, 10:51 AM
Kolby, few points -
1. I have seen agencies tie their fees to the revenue that they generate. If you dig harder, you’ll find someone who can work with you in this format. Having said that, I haven’t seen anyone working at $0 per mo - meaning - most people will ask for some base payment and then, some more based on the revenue that they generate.
2. If revenue is your ask, marketing alone will not solve for it. You need to build a revenue function within your organization. Product + Marketing + Sales (product led or sales led) + Support will together bring revenue.
3. If you’re bootstrapping your business and you see a path to profitability + enough revenue (~10k MRR), don’t look into loans.
gratitude thank you 1
08/15/2022, 2:30 PM
Thank you both for the advice
08/15/2022, 4:18 PM
OK, you might see this as harsh but it is my first impressions, so you would need to answer them, not for me, but for others and yourself,
On the joyline.io, I don't understand the point of it. You are charging $5/month per person to send photos to them. And you have a slider that calculates monthly prices and 20 people per month is also $5/month - no quantity discount. So why have a slider bar at all, if it is always going to be $5/person? Why not just write $5/person? You say it is tiny prices on your website, but if I have 20 people in my family/extended family/friends, that is $100/month or $1,200 per year. How is this a tiny price? I can send photos for free via email. ohh......you MAIL photos to them......I had to LOOK for that. This should have been on the very top and easy to see. You write: "Send joy to loved ones every month
Effortlessly deliver printed photos to your loved ones - every month" Well, "delivered" is an ambiguous word. That can easily mean delivered by email - that's what I thought. So it should say "photos mailed by USPS so that they will have a physical copy of the photo" or something like that. For clarity. My thought, though, is why do I want a printed copy? I don't want a printed copy. There might be a reason, but you don't give a reason to recieve printed copies. Why wouldn't someone rather get digital only, but if they want a copy, then they can either print it on their own inkjet printer, or just get a nice print at Costco for 11 cents per photo printed, on the exceedingly rare occasion that a quality physical copy is wanted? I sure don't want an avalanche of photos from my sister of pictures of the tuna fish sandwich she ate last week.
As to your thriverstudio, you only have it for Apple and no Android????
The Kidsspace is competitive. I just looked up the first competitor that I came across and they are spending $260,000 in paid advertising. Let alone their SEO which I'm sure they have lots of people working full time on that. All that is fine, but it is a lot of hard compeition. SEO takes at least 6 months. I can't work 6 months full time for free. They are getting about 115,000 clicks per month from their SEO and 260,000 paid clicks per month. That's just one competitor. So what sets your flash cards apart? Why would someone come looking for them, and then find that they only work in Apple and not Android?
If I'm going to do that, I'd rather just start my own business and own 100% of it.
08/15/2022, 4:23 PM
There are some good points in that thought vomit 😄 Thanks for the effort, I do appreciate it
08/15/2022, 4:26 PM
I'm not sure on what you're saying. Is thought vomit a complement these days? Or is that expressing that you are annoyed?
I'm just trying to upgrade my vocabulary if it is a compliment.
08/21/2022, 1:05 PM
Hi @Kolby Sisk - I think hiring is a better solution. Commission/equity-based can only work once you’ve achieved PMF.
If you’d like to kickstart with video marketing, you will need an experienced team of scriptwriters, storyboarding artists, video editors, animators, voiceover artists, UI specialists, producers, etc. if you want to end up making professional-looking videos and ads that help you drive engagement with marketing.
If you are open to working with an agency, I might be able to help you all of that.
I work at Content Beta, a media production studio and we’ve helped around 80 B2B SaaS and software companies to create engaging product marketing content and videos to successfully generate more MQLs and signups.
We are hassle-free, affordable and deliver fast.
We can help you with everything- content design, video scripts, presentation design and creating full-fledged product videos to creating infographics, GIFs, motion design and social media shorts for your FB, IG and Google ads.
You can check out our service page to get a better understanding of our work: https://www.contentbeta.com/content-studio/