Will Bernie Sanders Favorite App Kill GoToWebinar?

Julian Martinez

Summary:
In Episode #255 Nathan interviews Julian Martinez, marketing director at Maestro Conference, the webinar platform used by Hilary Clinton and Bernie Sanders. Julian spent 7 years building marketing programs from scratch. Listen as Nathan and Julian talk webinars, and the nuts and bolts of building a marketing strategy.

Famous 5

  • Favorite Book? – Monkey Business
  • What CEO do you follow? — Eoghan McCabe
  • What is your favorite online tool? — Intercom
  • Do you get 8 hours of sleep?— Maybe
  • If you could let your 20 year old self know one thing, what would it be? — To start travelling more, date more girls, and pay more attention in class

Time Stamped Show Notes:

  • 01:20 – Nathan’s introduction
  • 01:50 – Welcoming Julian to the show
  • 02:00 – Why Julian left Bid On Fusion to join Maestro Conference
  • 02:40 – Choosing between family and work
  • 03:04 – Julian joined Maestro Conference in 2016
  • 03:20 – Hosts interactive webinars and conference calls
  • 03:45 – Obama, Hilary, and Bernie Sanders all use the platform
  • 04:14 – “A sexier version of GoToWebinar
  • 04:30 – It’s possible to generate breakout groups of 2 from a group of up to 5000
  • 05:05 – Between 1,000 and 2,000 paying customers
  • 06:00 – Julian’s the first marketing hire – most investment has been in the platform
  • 06:20 – Team of 15 full-time people
  • 07:40 – Currently around 4% churn rate
  • 08:30 – Based in Oakland
  • 09:05 – Marketing budget for February was around $3000
  • 09:30 – Julian wants to implement paid social media advertising and SEM
  • 10:00 – Currently around 10% conversion
  • 10:40 – Raised around $2 million total
  • 11:11 – MRR of $90k in February
  • 12:30 – Goal is now to follow up exposure from nominees’ campaigns with paid social
  • 15:13 – Famous Five

3 Key Points:

  1. Take advantage of all the resources you can find. Do more with what’s around you.
  2. Build a marketing strategy around the exposure you already have.
  3. If you’ve just joined a company, take time to clean the slate before kicking off your own projects

Resources Mentioned:

  • Freshbooks – The site Nathan uses to manage his invoices and accounts.
  • Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
  • Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
  • 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

Updates from Julian:

Variable for LTV estimate: Avg $/mo INPUT 100
Customers >1 year old as of November 2014 451
Of those, still here as of November 2015 338
Annual Retention % of long-term (12 mo+) customers 75%
Monthly Retention % (average) of long-term (12 mo+) customers 97.6%
LTV of 12+month customers at $100/mo $4,211
Average Retention % in First Six Months 89.92%
Total Retention Over the First Six Months 52.85%
Partial LTV: Total Value over first six months $450.23
Average Monthly Retention during 2nd six months (per month) 95.98%
Total Retention Over the Second Six Months 78.19%
Partial LTV: Total Value over second six months (of new customers, not 6-month old customers) $288.17
For comparison: 6-month retention rate for customers>12 mos old 87%
Total Retention over first year 41%
Partial LTV: % chance they become 12+month, times LTV of 12+ month $1,740
Total LTV (Revenue) $2,478
Total Average Customer Lifetime Months 25
Total Monthly Average Attrition 4.03%
Total Monthly Retention 95.97%