Andrew Fischer. He’s a seasoned entrepreneur with extensive business development and sales experience in digital media and enterprise software or SaaS. He’s recently launched Choozle, a simple and digital marketing platform in the fall of 2012. Based in Denver, Colorado, Choozle is the world’s fastest growing digital advertising platform.

Famous Five:

• Favorite Book? – The Hard Thing About Hard Things
• What CEO do you follow? – Jeff Green
• Favorite online tool? — Evernote
• How many hours of sleep do you get?— 7
• If you could let your 20-year old self, know one thing, what would it be? – “I will probably reinforce the message of focus”

 

Time Stamped Show Notes:

• 01:04 – Nathan introduces Andrew to the show
• 01:35 – Choozle is the fastest growing digital advertising platform because of Inc Magazine’s annual ranking
  • 01:45 – It will be Choozle’s first year in Inc
• 02:02 – Choozle became profitable last year
• 02:16 – Choozle was launched in 2012
• 02:25 – Revenue is between $5-10M
• 02:29 – Team size is around 32
• 02:36 – Choozle raised a small round
• 02:54 – Choozle is a SaaS that installs on an agency level
• 03:07 – The lowest level of subscription is $99 for an agency with one client and up to $2K a month for unlimited accounts
• 03:21 – Average pay per customer is $300 a month
• 03:25 – Choozle has 250 clients
• 03:30 – Choozle offers hybrid-managed services
• 03:51 – Choozle is also an ad-tech company, so they take a percentage of media
• 04:03 – Media shares start at 40%
• 04:17 – Choozle is a premium player in the space
• 04:53 – 2016 revenue
• 05:00 – 2017 target revenue
• 05:34 – Majority of Choozle’s revenue are coming from Q3 and Q4
• 05:51 – Choozle has raised $8.5M to date
• 06:02 – Choozle’s grace capital is from non-traditional services like a family office
• 06:29 – The goal when they had a raise was to build a sustainable company
  • 06:51 – The raise was an equity-based investment
• 07:02 – Average churn is 5-7% per month
• 08:03 – Andrew is currently happy with their churn rate
• 08:32 – LTV to be
• 08:52 – CAC
• 09:22 – Average payback period
• 09:34 – Choozle has 10 full-time salespeople, total team size is around 30
• 11:25 – The Famous Five

 

3 Key Points:

1. The digital advertising space is quite saturated and the churn rate of a SaaS businesses is quite high.
2. Aim for your company to not just be profitable, but sustainable as well.
3. Don’t limit who you allow as investors in your company.

 

Resources Mentioned:

• The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
• Klipfolio – Track your business performance across all departments for FREE
• Hotjar – Nathan uses Hotjar to track what you’re 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 – Nathan uses Acuity to schedule his podcast interviews and appointments
• Host Gator– The site Nathan uses to buy his domain names and hosting for the cheapest price possible
• Audible– Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books

Show Notes provided by Mallard Creatives