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Vikingpod Episode 4: Startup Spotlight – RevRise

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Welcome to the Vikingpod. This is the fourth episode of the podcast. Today I am happy to announce a new segment. It is called Startup Spotlight. Very unoriginal and inspired, right? Regardless, in this segment a startup, probably located in Sweden or the other Nordic countries, will be analysed and discussed. Below are moderately complete show notes.

Check out the podcast below, or on iTunes.

[PowerPress]

Startup Spotlight: RevRise

RevRise.com #1

RevRise.com #1

”Maximize your conversion rate”

RevRise is a form analytics tool based out of the SUP46 (Start-Up People of Sweden) coworking space. They have really understood how to market their business. The benefit of using RevRise is clear from the onset, just watch the graphs! They go up!

They list three main benefits of using the product, insurance (reduce risk), maximized conversions (increase revenue) and better customer experience (reducing customer service costs and increasing revenue).

Beyond that RevRise presents a case study, where they helped Swedish merchandise and print company Medtryck.com increase their orders by 67% (!).

RevRise #2 - MedTryck.com

RevRise #2 – MedTryck.com

 

RevRise is still a young startup and has only received 100,000 SEK in funding from STING, Stockholm Innovation & Growth, an incubator. They have funded some fun companies and you should definitely check them out. Below is their basic financials for 2012 and 2013, they are sparse but they have got customers on a, hopefully, recurring basis. The data is from publicly available from allabolag.se.

[EDIT: I got my notes messed up when preparing the podcast. The 100,000 SEK funding came from Almi Invest. Click here for the press release]


RevRise AB Financials. Silly colour coding by Vikingpod.

The company does show a growth in revenue but it is still not much to speak about. Hopefully business will pick up with many happy and recurring customers.

RevRise does one thing right, above all, and that is how much they charge. Forget $10/m. Their primary product is $749/m and up.  Now $749 is a lot of money but imagine increasing conversions by just a few percent if a business does $10,000,000 in sales per year. Suddenly spending $749 seems cheap.

RevRise - Price

RevRise – Price

RevRise’s clients reflect this, they got customers like energy giant Vattenfall, phone retailer PhoneHouse and the PR/press release company MyNewsDesk. For these guys 750 bucks per month is nothing.

Let’s go back to that case study RevRise presents on their website, increasing conversion by 67% is impressive. The case study does a clear before and after study and stresses the fact that conversion optimization is continues and never done. This is true but it is also great news for RevRise’s bottom line.


AAAStjärna AB (Medtryck.com) financials. Silly colour coding by Vikingpod once again.

Medtryck.com increased their revenue by roughly $1,170,000 (~7.5m SEK) and doubled their earnings to 1,091,000 SEK. In addition to hiring two new employees they managed to increase their profit margins, suggesting healthy economics of scale in their business. I don’t know how much of that is due to RevRise but at the very least a fair bit of the revenue increase comes from the optimization done by RevRise.

In addition to their SaaS offering pretty much does conversion optimization consulting as a complement to their SaaS offering. A great way to earn more money from the clients that don’t feel they got the knowledge in-house to optimize yet have deep pockets.

All in all, RevRise takes a page out of Patrick McKenzie(patio11)’s book: Do B2B and charge a significant amount of money for services and products that directly affect the bottom line. Clients will be happy to pay $750/m if their revenue (and profit) increase by more than that.

All in all: check out RevRise if you want to optimize your conversions, especially sales forms.

Thank you for listening, this has been Patrik Lönnström with the Vikingpod. Be sure the check us out on vikingpod.com, iTunes and on Twitter, @Vikingpod and @Chronoo. If you enjoyed this episode, be sure to leave a review on iTunes, it helps immensely.

Vikingpod <3 #STHLMTech

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Vikingpod Episode 3: Hosting

Episode 3 of the Vikingpod is here! The topic of the day is (web) hosting. What should you really choose? There are so many options!

Check out the episode below!

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You can also check it out on iTunes by clicking here.

The following are my notes from the recording, they are moderately accurate but also jumbled:
What is your requirement?
Personal, Enterprise, SME?
What are you going to run?
High performance custom software or just a blog or simple website.
Depending on your needs, a simple website is usually enough
Shared hosting such as BlueHost or SiteGround
VPS/Dedicated servers such as Linode, Hetzner, DigitalOcean
Specialized hosting such as WPEngine.
Do you value Reliability? Pay more.
Specialized hosting for enterprise blogs -> Go with WPEngine.
Hosting matters! NSA, reliability, Security.
What is your time worth?
In conclusion: What is your budget? What is your requirements?
Based on that, Choose your provider.

I hope that you liked this episode! Be sure to leave a comment below or send me a tweet at @Chronoo

Vikingpod Episode 2: Standardized Software

Episode 2 of the Vikingpod is here! Today is about standardized software and why you should probably just use a standardized solution instead of paying for/creating a custom piece of software.

Check it out below!

Play

You can also check it out on iTunes by clicking here.

The following are my notes from the recording, moderately accurate:

Standardized Software

Why use standardized software?

Begin with enterpirse/business scale and move onto Web, starting out.

Core business

Cost

Proccesses, is yours better?

Streamline

Automate

But I hate SAP/Oracle/Bloated Legacy System!

SAP is good for certain business but there are alternatives!

WordPress, WooCommerce, Shopify. Make it simple.
I hope that you liked this episode! Be sure to leave a comment below or send me a tweet at @Chronoo

Vikingpod Episode 1: A business case against BitCoin

Vikingpod Episode 1: A business case against BitCoin. The very first episode of the Vikingpod is here! Check it out below!

Play

You can also check it out on iTunes by clicking here.

The following are my notes from the recording, moderately accurate:

MtGox -> RISK -> Lost bitcoin, customers are out of money. Didn’t pay out for several months.
Tax liabilities
Why on earth would you pay employees in BTC?
Bad Customers
Hyped to the sky.
Tesla -> Taxes?

I hope that you liked this episode! Be sure to leave a comment below or send me a tweet at @Chronoo

Three Amazing People to Follow into 2014

Three Amazing People to Follow Into 2014

It is soon 2014 and that means it is time to pick up a new habit. Vikingpod’s recommendation is that you follow the following three, amazing, people into 2014. We all need inspiration from time to time and I can guarantee you, these three will not disappoint you.

Enjoy!

1: Patrick McKenzie (patio11)

Patrick McKenzie AKA patio11 runs Kalzumeus.com and an amazing mailing list that primarily is on online sales conversions and other technical stuff. No matter if you are a software developer, CEO, or a call center employee, subscribe to patio11. His insights are amazing. Recent newsletters including Stomp The Heck Out Of Your Customer’s Main Objection and How Much Optimization Is The Right Amount?.

The newsletters are somewhat infrequent but always mind blowing. Patrick is currently planning a new course on the subject of software conversion optimization and if that is something you or your company needs, sign up! It is not cheap but patio11 has done this kind of stuff as a consultant for years.

(Disclosure: I am in no way affiliate with patio11 nor am I getting anything in return for recommending his new course)

You can find Patrick McKenzie on Twitter: @patio11, Hacker news: ‘patio11 or on his website Kalzumeus.com

2: John Lee Dumas

John Lee Dumas is crazy. He produces the seven (7!) day a week podcast Entrepreneur On Fire. That is 7. Days. A. Week. with entrepreneur interviews. He also does a monthly income report, detailing all his revenue and expenditures. Talk about transparency. The roughly 30 minute long podcasts are amazing and inspiring. You may not be interested in all the entrepreneurs he interviews but those 7 days a week adds up to a lot of interviews and there are always something interesting to listen to when it comes to John Lee Dumas.

In addition to EOF John has launched a lot of side projects like Podcasters’ Paradise, with in depth guides, suggestions and tips to launch your own podcasts. This information product sells for something along the lines of $500 for a lifetime membership. And it sells like lemonade on a hot summer’s day. With $100,000 in revenue per month in about a year, this is success.

You SHOULD listen to his podcast if you got some free time or feel the need to be inspired, you will not be disappointed. They are cheesy in an adorable American way, but they contain valuable insights from successful entrepreneurs. Most interesting is when the interviewees share their failures.

You can find John Lee Dumas on Twitter: @johnleedumas and on his website: entrepreneuronfire.com

3: Ramit Sethi

Ramit, author of the utterly cheesy titled website IWillTeachYouToBeRich.com, is the last person to be on this list. Ramit’s copywriting is second to none. His extremely long form copy is amazing. Read it and you will feel the need to fork out thousands of dollars on his courses and information products.

Luckily, most of his content is in fact free. Ramit’s newsletter is conversational and amazing. He constantly provides good advice while motivating the readers. If you are going to subscribe to one newsletter, subscribe to Ramit’s.

I have read his book (same title as his website) on personal finances. It is simple, easy to read while offering proper advice that will help you stabilize your finances. It is not about stopping you from drinking that Starbucks Latte but rather get big wins that matter.

You can find Ramit on Twitter: @Ramit and on his website IWillTeachYouToBeRich.com.

As a bonus: patio11 and Ramit have created two podcast episodes together that you MUST listen to. You may not be interested in software consultancy/freelancing or sales but these two podcasts (40 and 50 minute long respectively) are probably the best way you could spend your time. They are mind blowing and amazing.

The first is called Ramit Sethi and Patrick McKenzie on Getting Your First Consulting Client and the second one is Ramit Sethi and Patrick McKenzie On Why Your Customers Would Be Happier If You Charged More.

Listen to them, you will not be disappointed!

 

I hope you enjoyed this blog post, the first on Vikingpod.com. We aim to produce a set of podcasts on Business, Knowledge and Technology from a Nordic perspective. We <3 startups & #STHLMTECH. But in the mean time, We hope that you’ve enjoyed this blog post. Got any people who you think the Vikingpod readers should follow? Leave a comment below!

Feel free to follow @Vikingpod on Twitter!

Yours truly,

Patrik (@Chronoo)

 

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