SaaS Interviews with CEOs, Startups, Founders
VisitorQueue Hits $270k Revenue, Powers Your Sales Team ABM
20 Jun 2020
Chapter 1: What is VisitorQueue and how does it work with Google Analytics?
We added about 30 new customers last month, like actually paying ones. The big thing there is we don't see our average conversions about 45 days for an account to convert. So the ones that were converting last month would have been signups in, what is it, that August, late September at that point, yeah.
So 300 customers at a $75 ARPU puts you at about $22,000 a month right now in revenue?
You got it, yeah.
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Chapter 2: What unique benefits does the partnership with Google Analytics provide?
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Hello everyone, my guest today is Nick Hollinger with a company called VisitorQ. He's the CEO and founder and really what they're focused on is a B2B SaaS company that have partnered recently with Google Analytics to identify the companies visiting a website.
They're bootstrapped, currently works with 5,000 companies across the globe, also the game day director of one of Canada's most successful junior hockey teams. Nick, you ready to take us to the top?
Let's do it.
All right, so VisitorQ, what's the partnership with Google look like and why is that unique to you?
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Chapter 3: How does VisitorQueue identify companies visiting a website?
The partnership really ties into their Google Analytics APIs and allows us to gather information from Google Analytics about the company's visiting and other company's website, allows us to integrate easily with any website because most websites across the globe have Google Analytics attached to their website already. So getting set up is super easy. and really adds a benefit for us.
You don't have to add any code to your website.
I mean, is this basically an IP address hits your website, you do some back channels, some data enrichment and figure out what company it is? You got it.
Yeah. And then we provide that to B2B companies so they can follow up with the ones that don't convert.
Okay, so I'm on getlaka.com. I am trying to close more founders to pay for my data. An IP address hits me. They don't sign up, so I don't capture their email. But you sent me an email and say, hey, you just got a visit from IP address 1936156111. It's company X. How do I go to actually reaching out to them? Do you give me an email or what?
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Chapter 4: What strategies did VisitorQueue use to acquire its first customers?
Yeah, we would provide you with firmographic information. So a phone number that would be included in that. So you could give them a cold call. Or we also provide the key contacts there. So the key employees that you could say, hey, we would probably sell to the marketing director or someone in information. So I want to follow up directly with them.
Okay, where are you getting your firmographic data? Are you paying kind of full contact or discover org? Or what's your what are your sources there?
Full contact is our number one source there, but we use another. Like most, data is a commodity at this point, so we're pretty much sourcing it off of each other.
Yeah. I mean, yeah, the secret about the space is basically everyone buys everyone else's data. And then sometimes you have your own engineering team that adds a little bit of your own flavor, but it's generally all the same.
Correct.
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Chapter 5: What are the current revenue figures and growth metrics for VisitorQueue?
Yeah, we do have a team that we work with, an outsource team that will go through and enrich any records and so on. But generally, most of it's coming from full contact.
So what's your full time full time team size today?
About eight full time equivalent. That is six full time and then a few contractors here or there.
OK, how many engineers?
That's three engineers.
And any quota carrying sales reps?
No, most of our, so our ARPU is at a level where it doesn't really make sense to have an outbound team.
What level is that?
$75 per month.
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Chapter 6: How does VisitorQueue optimize its marketing channels today?
So you're going after mass marketplace, not an enterprise.
Exactly. Yeah. Everything's marketing driven. Everything's inbound.
Yeah. Yeah. Okay. Interesting. So 75 bucks a month. Now, when did you launch the company?
So post revenue as of April, 2018. Yeah. Started working on the original idea about June of 2017.
Between 2017 and your first dollar revenue, how much did you sink into the MVP?
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Chapter 7: What financing options has VisitorQueue explored for growth?
Oh, that was probably all of my money that went into that and burned a bit of money there, but probably closer to 15, 20 grand.
Okay. I mean, and so that was mostly your money or did you raise angel stuff early on?
No, completely bootstrapped. Nothing outside of my finances or a personal guarantee that I put on a loan has gone into the company.
Yeah, that's interesting. So, I mean, most people, that's the hardest part, right, is getting the initial cash to get started. So it sounds like you took a loan out from a bank and personal guaranteed it?
No, I was fresh out of school. I had some cash that I'd saved up and put that into the company to get started. I found a co-founder who had the technical piece that we needed so we could really do this thing incredibly cost effective. And then once we started hitting some revenue and finding those growth channels that we needed, we went and got a loan from what's in Canada.
It's called the Business Development Bank of Canada. And they do business loans for smaller companies and take a personal guarantee on them. But that was already after we had revenue to kind of increase our marketing spend.
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Chapter 8: What are the future plans for scaling VisitorQueue?
That loan, how much was it for?
45 grand.
Okay, 45K. And so, okay, so that's the original story. That's how you get some of your momentum going. How did you get your first customers? Where did you find them?
Uh, first customers, that was, that was a bit, I have a terrible memory, but I'll try to, I'll try to go back that far. Uh, so not far.
It's only two years ago.
Yeah. I barely remember what I had for dinner last night. Um, so the, the first customers were mainly just us testing channels. Uh, we use, uh, we use different, uh, Google analytics, uh, sorry, Google AdWords, Facebook, uh, all these different channels to actually, um, to actually, you, uh, generate signups on our beta.
Uh, and then we also reached out to friends that we had within the industry and got a few customers.
Like what keyword early on worked really well for you or actually tell me like the real channel that the first couple of customers came from.
Uh, so the first ones would have been Google AdWords for the most part. We tested out a bunch in the, in the beta, uh, that we had, and we signed up about a thousand accounts in the beta. So We use a number of different channels. And for AdWords, it would be website visitor identification. It would be a big one for us. Product Hunt drove us a ton of different signups.
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