GE 283: How Conversocial Crossed the $10M Revenue Mark and Continues to Grow (podcast) With Josh March

Josh March, the CEO of Conversocial
Hey everyone! In today’s episode, I share the mic with Josh March, the CEO of Conversocial and the Author of Message Me.
Tune in to hear Josh share how he started iPlatform that became one of the first Facebook app development agencies, how Conversocial developed their business model, and why social messaging is so effective.

Time-Stamped Show Notes:

  • [00:40] Before we jump into today’s interview, please rate, review, and subscribe to the Growth Everywhere Podcast!
  • [01:20] Josh had an ecommerce company right out of college that failed.
  • [01:57] He started iPlatform that became one of the first Facebook app development agencies.
  • [03:00] As communication moved towards mobile phones, Internet, etc. Josh thought it would be smart to create software that would help businesses communicate with their clients using messaging and social networks.
  • [04:00] Conversocial bridges the gap between traditional needs and new forms of communication.
  • [04:35] At its peak, iPlatform was making a few hundred thousand in revenue per month.
  • [05:52] “In business there is never a right answer; There’s never one way of doing things.”
  • [07:05] Conversocial crossed the $10 Million revenue mark last year.
  • [07:20] They work with Google, Alaska Airlines, Macy’s among others large airlines and retailers.
  • [09:45] Conversocial allows for seamless consumer experiences.
  • [10:55] They have full automation when it comes to messaging consumers.
  • [11:46] They intregrate on Facebook, Instagram, Twitter, Google Plus, and YouTube. They also do custom integrations and are looking to include WhatsApp in the future.
  • [13:45] Josh is a big fan of the book Four Steps to Epiphany by Steve Blank.
  • [13:56] He used this as his handbook to figure out how to approach his business.
  • [16:10] Josh saw his business as a disruptive innovation.
  • [17:45] Brands were confused as to how to treat customer complaints: Was it crisis management?
  • [18:25] Generally, Conversocial charges per seed.
  • [20:40] As the social channels became bigger and bigger, so did the task for Conversocial and the companies they served.
  • [22:00] They originally approached the relationship from a product perspective, but they weren’t really understanding the business objectives of their clients.
  • [24:05] Pricing depends on the type of needs you have.
  • [24:25] Their lowest package starts at around $20,000 per year.
  • [25:47] As companies are now using social messaging instead of email, it has opened up more opportunities for customer care.
  • [26:26] Mark Zuckerberg launched Messenger by announcing the end of phone calls.
  • [26:55] Unfortunately, most of the messenger bots were not great and didn’t function well.
  • [27:22] However, people realized there was potential value in messenger services and bots.
  • [30:15] Josh has gotten into Mind Maps and believes they are a great hack.
  • [32:15] Josh recommends the book The Hard Thing About Hard Things.

Resources from the interview:

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