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:
- Software developers need the services of online marketing experts as much as marketers need the services of software developers.
- 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.
- 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
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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