23: Course Correcting

The SaaS Venture

FULL SHOW NOTES:

[INTRO music]

00:12 Aaron Weiche: Episode 23, Course Correcting.

00:16 INTRO SPEAKER: Welcome to the SaaS Venture podcast. Sharing the adventure of leading and growing a bootstrap SaaS company. Hear the experiences, challenges, wins, and losses shared in each episode. From Aaron Weiche of GatherUp and Darren Shaw of Whitespark. Let's go.

[music]

00:43 AW: Welcome to the SaaS Venture podcast. I'm Aaron.

00:46 Darren Shaw: And I'm Darren.

00:47 AW: And I just finished eating a chocolate chip cookie. What do you think about that?

00:52 DS: It sounds pretty good. I just finished eating a salad. It's the exact opposite. [chuckle]

00:58 AW: If my wife listens to this episode, I'm gonna get yelled at, but when I got gas at the gas station, they have these big chocolate chip cookies, and, yeah, this just looked like a great afternoon snack.

[chuckle]

01:09 DS: Totally, yeah. And now you made me wanna go get one.

[laughter]

01:13 AW: I'll mail you one.

01:14 DS: Wow, I don't know if it'll be good by the time it gets here.

[laughter]

01:18 AW: So what's been going on other than salads and cookies? I know what's been going on. You spent all week last week hosting a massive virtual summit with 4000-5000 attendees. Let's talk about that a little bit before we get into our main topic today.

01:34 DS: Yeah, so it's been huge. This summit was a massive success. We had actually 5500 people register for the summit.

01:41 AW: Wow.

01:42 DS: And pretty great attendance to all the different talks, and so it was big and we've been getting nothing but a steady stream of positive feedback about it. Just people comparing it to other conferences and saying how awesome it was and, yeah, so it was a great success. People love the content, and of course, I had some of the best speakers in the world such as Aaron Weiche, Mike Blumenthal, Joey Hawkins, so we had fantastic speakers.

Basically, all the most known speakers in local search were there. Some heavy hitters outside of the local specific space like Rand Fishkin spoke. Michael King spoke. Brodie Clark, who was really building a name for himself down under in Australia, he spoke as well. And so, yeah, it was a great conference. We had huge visibility and, yeah, it was good. It was all good.

02:31 DS: It was so much work though. Oh, my God, I can't... I'm glad it's over because not only was it so much work to put it together, I had my own presentation to do, the Local Search Ranking Factor survey had to get done out there, recreated, re-pull all the data, re-analyze all the data, build a slide deck, build a presentation around it and present it. And I handed that in like Monday night. The night before we were going live with the conference, I handed in my recording, and it was just a very stressful time. Glad it's over.

03:01 AW: Yeah. Now, I wanna touch on a few benefits that we noticed in having myself and Mike both from GatherUp speaking at it. Our parent company Traject was a sponsor as well. They used their sponsor slot to tease our social product, which has been rebranded, called Fanbooster. But I wanna get back to seeing if you can quantify the work you put into it all, but on our side, the benefits with two speaking topics, we had great exposure, I can only guess you basically led off the conference with Mike, which I'm thinking was another hit. For a decade, he has been probably one of or the biggest thought leader in the space.

03:50 DS: Totally.

03:51 AW: And, yeah, a great draw and just the reason I love working with Mike is just the levels he can think on, and he gave a great talk around review attributes, which plays heavily into our platform and things like that. And then two days later, 'cause it was a three-day conference, and I talked on some things strategically related to reviews and reputation management. But for us specifically, we saw double the leads last week of what we had been averaging like the four to six weeks prior, which really great.

04:30 AW: Any time you can 2X something is fabulous, and it returned our leads to pre-COVID for a week, which is awesome. I'm probably gonna be a little maybe frowny face next week when they jump down most likely again a little bit, but maybe some of those that paid for the videos and things like that are watching in this week, and then they'll still be interested to sign up. So we had a really great experience. A lot of Twitter conversation, which is always awesome, great, in the moment mentions, new Twitter followers, things like that. So from our standpoint, it was fabulous. From yours, what was the amount of work that it took you to put this together? I guess I just wanna frame up for any of our listeners that might be considering hosting a virtual conference as a marketing vehicle.

05:24 DS: Yeah, I would love to be able to quantify the hours. It's tough to say. We've been working on it for about six months. Heavily working on it certainly through July and August, lots of recording. So there were 34 presentations, one of them mine, and then all the other ones I had to book an hour to record with that speaker. There was a ton of setting up all the speakers, doing speaker agreements, lots of chasing with regards to sponsorships too. So getting sponsors, going back and forth with them on a lot of stuff, writing up sponsorship agreements, getting the platform launched. We used the system called HeySummit, which turned out really well. But getting that whole website set up, my own team, if I think about what Jessie and Sydney put into it, it was almost a full-time job for them. And so hours, probably hundreds, a couple of hundred of hours have gone into launching this thing, and so it was a lot of work. And not only that, we worked with a company called HeySummit, and they were great 'cause they keep everything organized, and they also did all of our video editing, all the videos launched onto the site, and so...

06:40 DS: Between all of us, maybe 300 hours is what it takes to put on a conference like this. If I had to guesstimate at it, maybe 400, 300-400. So that's a big investment. That's a big expense. The expenses broke even, so it's not really a money-making venture. We took any money that we got from sponsorship and we put it back into Facebook ads, Facebook and Instagram ads, to market the conference. So our whole goal was to get that attendance list up as high as possible, and we managed to get 5500 through all of our marketing efforts. And then ticket sales are covering all the expenses, expenses of that company that we worked with and speaker gifts, and so there's really nothing left in the end. It's not a money-making venture on its own. It was completely a marketing exercise for us to just get our brand in front of more people.

07:28 AW: Yeah, and so you did that at a very large scale. You also, too, because of... The local search community is very niche and they're really... There's been a couple of attempts. MozCon created their own local event, and now they've just folded local into MozCon itself, which is a very large event in the SEO community. But I really saw it as you took the opportunity of a premier event in local search has been vacated, and you just claimed it heavily with what you did, and I think that's pretty cool.

08:03 DS: Yeah, I think it's cool that way. And it's like, this one was so successful that we can't not do it again, so it's gonna be an annual thing. There's also some talk about doing spin-off conferences. Because we have all the talks pre-recorded, we could pull in a few new speakers that are specific to, let's say, dentistry. Like we'd get some top dental marketing guys to come in, and we'd do a few presentations with them, and then we'd pull out eight good... Our...