Ep 169 Laura Roeder, the creator of the social media scheduling software Edgar.  Listen as Nathan and Laura talk about the importance of online marketing and getting connected to influencers in a particular market.

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3 Key Points:

1. Software developers need the services of online marketing experts as much as marketers need the services of software developers.
2. It’s important for new businesses to get connected with influencers in their specific market. This can be achieved through social media among other means.
3. Edgar is a social media scheduling tool that automatically publishes content from libraries at set times in the day to maximize audience interaction.

 

Time Stamped Show Notes:

• 01:00 – Nathan’s introduction to today’s show
• 01:32 – Laura joins the show.
• 02:19 – Edgar is an automated way to showcase a library of content on social media sites.
• 03:20 – The main reason businesses in the info-marketing space don’t go into software is that the development side can be intimidating.
• 04:25 – Laura is married to a Ruby on Rails developer so she got lucky being able to make Edgar. However, those with online marketing expertise have much to offer in a partnership with a software developer.
• 05:22 – Developers need marketers in the same way marketers need developers.
• 07:10 – Before Edgar, Laura had already built a list, but she also went around getting connected to influencers in the market. Twitter was useful for this particular reason.
• 08:25 – Edgar was launched in the middle of 2014 and her list was about 80K from her previous business.
• 09:11 – If you want to learn how to build a list, go listen to episode 35 of The Top.
• 09:21 – Edgar was intentionally priced higher than its competitors for two reasons
  • It was bootstrapped and couldn’t support loads of customers using the service for free.
  • They wanted to differentiate that Edgar was a business tool, not just a social media tool.
• 11:24 – The business currently has just under 4K customers, making a topline revenue of about 180K a month. Most customers pay about 49$ a month.
• 11:58 – Edgar spends money on content marketing and paid acquisition (mostly Facebook ads.) They spend about 30K a month on Facebook ads.
• 12:40 – Edgar’s retention rate is about 95% month to month.
• 13:26 – Laura talks about why a bootstrap company has to be careful calculating lifetime values.
• 15:06 – Edgar’s biggest concern is helping customers utilize its services in an easy-to-use manner.
• 16:42 – Using Edgar for the past 6 months, Nathan’s gotten 3,286 clicks from Twitter updates that were published through Edgar.
• 19:00 – Famous Five

Resources Mentioned:

 

• Edgar – Nathan uses Edgar instead of other scheduling tools for Twitter because Edgar cycles through content over and over (buffer/others you have to re-input content over and over – time consuming). In the last several months, Edgar has driven Nathan over 3728 clicks that he didn’t have to work or pay for. Here isNathan’s Edgar Content Calendar

 

• LKR Social Media – Laura’s personal website
• @lkr – Laura’s Twitter
• Scaling Up – Laura’s favorite business book
• Slack – Laura’s favorite online tool

Famous 5

• Favorite Book?— Scaling Up by Verne Harnish
• What CEO do you follow?— Laura likes chatting to business owners and entrepreneurs.
• What is your favorite online tool?— Slack
• Do you get 8 hours of sleep?— Yes
• If you could let your 20 year old self know one thing, what would it be?—Even the most successful business owners are human – you can do what they do. 

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