BROADCASTS.com

b'

Jeremiah Wilson. He founded Convirza over 15 years ago. As the patent-holding inventor of The Maculon, the original, passive, remote conversation monitoring device and sales management system, he shaped the call tracking and marketing analytics industry. He\\u2019s positioned the capital raises and recent acquisition.

Famous Five:

• Favorite Book? \\u2013 48 Laws of Power
• What CEO do you follow? \\u2013 N/A
• Favorite online tool? \\u2014 Salesforce App
• How many hours of sleep do you get? \\u2014 6
• If you could let your 20-year old self know one thing, what would it be? \\u2013 \\u201cI wished I believed in myself more\\u201d

\\xa0

Time Stamped Show Notes:

• 01:51 \\u2013 Nathan introduces Jeremiah to the show
• 02:22 \\u2013 Convirza acquired a portion of their competitor\\u2019s assets to expand their customer base
• 02:56 \\u2013 Jeremiah shares how they found out about the acquisition
• 03:29 \\u2013 Call tracking is what drives the calls
• 04:00 \\u2013 Convirza also listens to the calls with machine learning to check the quality of the call
  • 04:46 \\u2013 If a phrase that the sales agent used didn\\u2019t drive conversion, it should be changed
• 05:00 \\u2013 Convirza tracks the attribution rate
• 06:20 \\u2013 Convirza finds out which billboard led a prospect to call, the cost of the billboard and the actual sales made from those calls
• 06:54 \\u2013 Convirza only focuses on where the lead came from and the conversation itself
  • 07:01 \\u2013 \\u201cOur objective is strictly the audio, strictly the call\\u201d
• 07:54 \\u2013 Convirza is a SaaS business and charges a platform fee plus minutes
• 08:13 \\u2013 ACV is around $600K
  • 08:40 \\u2013 ACV is per business
• 09:27 \\u2013 Prior to Convirza, Jeremiah was a national trainer for a company in Ohio and was teaching people how to sell on the phone
  • 10:35 \\u2013 In 2000, salespeople were looking into live call recordings
  • 11:20 \\u2013 Jeremiah set-up the stick and the device that could plug into a computer and record calls
  • 12:00 \\u2013 Jeremiah started with 100 units which cost him $70K
• 12:20 \\u2013 Convirza was launched in 2001
• 13:30 \\u2013 Convirza had their first client within six months that paid $20K
• 13:47 \\u2013 2010 revenue is $3M
• 14:05 \\u2013 Convirza listened to their clients in order to improve their product
• 14:17 \\u2013 Convirza has raised $24M in total
  • 14:46 \\u2013 The investors are private investors
• 15:55 \\u2013 Convirza has over a thousand customers
• 16:09 \\u2013 Convirza has 50K unique businesses using them
• 16:42 \\u2013 2017 ARR goal is $10M
• 17:33 \\u2013 Gross logo churn is 3%
• 17:44 \\u2013 Convirza has been focused on having their net negative churn negative for the last 2 years
• 18:56 \\u2013 Team size is 66 with 7 in sales and 25 as engineers
  • 19:21 \\u2013 They have a team of 40 in India who are augmented in their engineering
• 19:47 \\u2013 Convirza has an office in Utah and California
• 20:08 \\u2013 Pre-acquisition CAC is $1200
• 21:00 \\u2013 From the acquisition, they gained around 500 customers (more than double of what they had)
• 21:23 \\u2013 LTV is 4 years
• 21:41 \\u2013 Convirza\\u2019s best source for customers is their webinars
  • 21:52 \\u2013 They partnered with similar associations and publications in the space to promote their webinars
• 22:54 \\u2013 Payback period is 9 months
• 22:18 \\u2013 Paid spend was around $6500 in July 2017
• 24:01 \\u2013 Gross margin is 60%
• 24:24 \\u2013 Convirza built their own platform
• 26:05 \\u2013 The Famous Five

\\xa0

3 Key Points:

1. Acquire a part of your competitor\\u2019s assets to grow your own business and customer base.
2. Having another team in another country can be your secret key to success.
3. Focus on one specific goal at a time.

\\xa0

Resources Mentioned:

• Simplero \\u2013 The easiest way to launch your own membership course like the big influencers do but at 1/10th the cost.
• The Top Inbox \\u2013 The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
• GetLatka - Database of all B2B SaaS companies who have been on my show including their revenue, CAC, churn, ARPU and more
• Klipfolio \\u2013 Track your business performance across all departments for FREE
• Hotjar \\u2013 Nathan uses Hotjar to track what you\\u2019re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
• Acuity Scheduling \\u2013 Nathan uses Acuity to schedule his podcast interviews and appointments
• Host Gator\\u2013 The site Nathan uses to buy his domain names and hosting for the cheapest price possible
• Audible\\u2013 Nathan uses Audible when he\\u2019s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
• Show Notes provided by Mallard Creatives