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Aseem Badshah. He\\u2019s the founder and CEO of the company called Socedo. Before that, he built his own full-service marketing agency called Uptown Treehouse that leveraged social media and digital channels to reach current and potential customers. He\\u2019s upgraded and improved that initial business model with his current company, Socedo.

Famous Five:

• Favorite Book? \\u2013 Crushing the Cashman
• What CEO do you follow? \\u2013\\xa0
• Favorite online tool? \\u2014
• Do you get 8 hours of sleep?\\u2014
• If you could let your 20-year old self, know one thing, what would it be? \\u2013 Aseem wished that he would have prioritized building relationships

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Time Stamped Show Notes:

• 01:15 \\u2013 Nathan introduces Aseem to the show
• 01:50 \\u2013 Aseem noticed that there was so much data on prospects for B2B marketers in an agency
• • 02:07 \\u2013 Socedo\\u2019s goal
  • 02:13 \\u2013 Lead generation is what Socedo uses to get more customers
  • 02:45 \\u2013 Socedo provides behavioral data
  • 02:56 \\u2013 Socedo makes money from their software license
  • 03:03 \\u2013 Clients sign-up from 6 months to 1 year of license usage
• 03:11 \\u2013 Average pay the company gives to Socedo monthly
• 03:25 \\u2013 Socedo started in 2013
• 03:37 \\u2013 In social media marketing, everything was setup for B2C marketers
• 04:25 \\u2013 Social media is like a big CRM so Aseem leveraged it in a way to help B2B marketers
• 04:45 \\u2013 There are 200 paying customers
• 04:50 \\u2013 Socedo has raised $1.5M
• 05:00 \\u2013 Socedo\\u2019s revenue has tripled in 2016
• 05:10 \\u2013 Average contract price
• 05:25 \\u2013 Socedo started with SMB
• 05:50 \\u2013 2016 total revenue
• 06:05 \\u2013 Socedo has 25 people
• 06:20 \\u2013 2017 goal
• 06:30 \\u2013 Aseem is targeting 2x for 2017
• 06:41 \\u2013 Aseem wants to focus on their current customers
• 07:17 \\u2013 \\u201cIt\\u2019s not necessarily about growth at all costs; we want to focus on the fundamentals, focus on the relationship with customers\\u201d
• 07:35 \\u2013 All 25 members are in Seattle
• 07:53 \\u2013 The round was an equity round
• 08:32 \\u2013 Socedo is currently cash flow positive
• 08:50 \\u2013 Socedo is willing to take in new capital if they are ready
• 09:11 \\u2013 Socedo has almost broken even
• 09:23 \\u2013 How Socedo drives new customers
• • 09:37 \\u2013 Socedo doesn\\u2019t spend much money on marketing
• 10:30 \\u2013 The data source which Aseem thinks is the most accurate
• • 10:39 \\u2013 \\u201cEveryone is accurate in their own way\\u201d
  • 10:52 \\u2013 How Socedo matches data
  • 11:10 \\u2013 Socedo\\u2019s goal is to get metrics as high as possible
• 11:31 \\u2013 \\u201cWe don\\u2019t guarantee an accuracy rate, but our accuracy rate is pretty high\\u201d
• 12:00 \\u2013 The data sources that are connected to Socedo\\u2019s API are Full Contact, ClearBit and SellHack
• 12:34 \\u2013 Socedo\\u2019s unique data advantage
• • 13:30 \\u2013 As a B2B marketer, there\\u2019s a bigger chance of a higher conversion rate
• 13:50 \\u2013 Data sources that have the most accurate revenue numbers are Marketo and Salesforce
• 14:22 \\u2013 Socedo doesn\\u2019t have the marketing budget for each lead
• • 14:45 \\u2013 Socedo has the company size which can be used as a revenue basis for each lead
• 15:15 \\u2013 Gross customer churn
• 15:36 \\u2013 CAC
• 15:45 \\u2013 LTV
• 16:10 \\u2013 The Famous Five

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3 Key Points:

• Social media is a big CRM that can be leveraged to build a better marketing space for B2B businesses.
• Focusing on fundamentals and customer relationships can be more advantageous than focusing on just growth.
• Each data source out there is accurate in their own way.

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Resources Mentioned:

• Acuity Scheduling \\u2013 Nathan uses Acuity to schedule his podcast interviews and appointments
• Drip \\u2013 Nathan uses Drip\\u2019s email automation platform and visual campaign builder to build his sales funnel
• Toptal\\xa0\\u2013 Nathan found his development team using Toptal for his new business Send Later. He was able to keep 100% equity and didn\\u2019t have to hire a co-founder due to the quality of Toptal
• Host Gator\\xa0\\u2013 The site Nathan uses to buy his domain names and hosting for the cheapest price possible.
• Audible\\xa0\\u2013 Nathan uses Audible when he\\u2019s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books.
• The Top Inbox\\xa0 \\u2013 The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
• Jamf \\u2013 Jamf helped Nathan keep his Macbook Air 11\\u201d secure even when he left it in the airplane\\u2019s back seat pocket
• Freshbooks \\u2013 Nathan doesn\\u2019t waste time so he uses Freshbooks to send out invoices and collect his money. Get your free month NOW
• Show Notes provided by Mallard Creatives