01 Jan Startup Spotlight: Payboard
We love entrepreneurs, especially ones that have great work ethics and drive disruptive businesses. In our first Startup Spotlight I caught up with one of TrepScore’s earliest adopters Matt Dyor, CEO and Co-Founder of Seattle-based Payboard, to learn more about what he and his team are building.
Payboard is making the web smarter. That’s no small feat, and we’re certainly onboard with their mission. Their simple to use software acts as a plug-and-play sales funnel that uses a website’s existing content to increase engagement and conversion. Enjoy!
What is Payboard?
“Payboard is a simple way for entrepreneurs to never have to think about their website sales funnels ever again. We have created a plug-and-play sales funnel software that uses existing content to increase engagement and conversion that can be added to any website in 5 minutes. Our system predicts and recommends what a specific visitor might find interesting based on information that the website already knows such as what pages they have viewed before. As more people navigate the site our system gets smarter to generate more interesting experiences for the visitor and more revenue for the owner”.
How does it work?
“Instead of forcing visitors to click around and search for content, Payboard helps site owners do a better job of surfacing their best products, content and opportunities to visitors. Each visitor gets a customized experience based on what Payboard already knows from past visits to guide them down the path to a purchase”.
“For the website owner, it’s super easy to get started. You just drop a script or WordPress plug-in into your site, using something like Google Tag Manager, and right away we start gathering data about successful visitor behavior.”
Why did you decide to build the product and ultimately start the company?
“I previously ran the Microsoft Accelerator (powered by TechStars) and worked with some phenomenal startups. During that time we realized how hard it was to keep track of data let alone take action based on that data. To track website traffic we were using everything from Google Analytics to MixPanel to KISS Metrics but it was very difficult to actually improve your business using these analytics platforms”.
“We identified a significant gap between the tools that were available, so we worked alongside these early stage startups to find ways to convert non-customers to customers. We noticed that companies were drowning in data and what was needed in the space were expert tools to help increase sales conversions. I constantly remind myself that we’re not building tools for experts, we’re building expert tools”.
Who should use Payboard?
“We primarily work with businesses that create content to drive commerce. These companies generally have a unique/premium product or create a unique experience for their customers (museums, etc). These businesses develop passionate followings and get significant traffic”.
What is a major challenge that you face as you build your business?
“One of the biggest challenges we have faced so far has been finding our value proposition. We have had to work pretty hard to find one that is simple that really resonates with customers. Because the problem we solve is not at the tip of the tongue of site owners, this has been tough”.
What are some of your goals heading into 2015?
- Deliver value that’s measurable and appreciated by customers already on platform
- Demonstrate that we can successfully bring new customers onto our platform at scale
- Bring on 1,000 customers
- Close our seed financing early in the year
- Expand our offering with more plug-ins and more marketplaces
How much does it cost?
$90/month for websites up to 100,000 monthly visitors
Where can we find it?
For more information on Payboard…
Stay tuned for their appearance on Business Rockstars coming soon!
Want exposure for your Startup?
More About TrepScore Startup Spotlights…
TrepScore has an exclusive media agreement with Business Rockstars that allows us to offer our top performing companies FREE media placement in front of a national audience with more than 4,000,000 daily listeners and viewers. Each week we select 2-3 of the most active members to conduct an interview, then we place them on the show. It is just that easy. If you would like to be a spotlight company on TrepScore and Business Rockstars, simply signup for our beta and become one of the top performers. Simple!