Sramana Mitra: What kind of B2C traction were you experiencing at this point?
Matt MacInnis: Some titles performed very well. I should say that at some point in 2012, we also started doing non-academic content. Inkling is not an easy story to tell because we’ve adapted a lot.
Sramana Mitra: That’s okay. That is exactly the kind of story we want to tell. Entrepreneur journeys are not linear journeys. There’s a lot of navigation that goes on. This is really a entrepreneur’s story and that’s exactly what we want to tell. >>>
Entrepreneurs are invited to the 337th FREE online 1M/1M roundtable mentoring session on Thursday, January 26, 2017, at 8 a.m. PST/11 a.m. EST/9:30 p.m. India IST.
If you are a serious entrepreneur, register to “pitch” and sell your business idea to Sramana Mitra. You’ll gain straightforward feedback, advice on next steps, and she’ll answer any of your questions. Others can register to “attend” to watch, learn, and interact through the online chat.
Video streaming has caught on incredibly well. According to a MarketandMarkets report, the global video streaming market is expected to grow from $30.29 billion in 2016 to $70.05 billion by 2021, at a CAGR of 18.3% during the forecast period. Netflix (NASDAQ: NFLX), the pioneer in video streaming, is reaping the benefits of this trend. But the competition is also increasing. >>>
In case you missed it, you can listen to the recording here:
Sramana Mitra: Facebook is unique in its targeting capabilities. Talk about how you took advantage of that. What was the segment you were going after? What segment was converting for you? What did you learn about these nuances of positioning?
Nevin Shetty: As a wedding registry, we targeted people who were engaged.
Sramana Mitra: The status says they’re engaged, and you were marketing to that status.
Nevin Shetty: Correct. Lizzie and I would go to General Assembly classes and other online classes for marketing. Even though they’re engaged, people who live in New York are different from people in Texas. People who like Vogue are different from people who like InStyle magazine. We would then break out >>>
During this week’s roundtable, our guest Stephan Goss, CEO of Zeeto, who has bootstrapped a traffic arbitrage business to $42 million in 2015 revenue. If you are working on an affiliate marketing / lead generation type of business, this is a useful conversation to listen to.
As for pitches, Stephen Clarke from Toronto, Canada, pitched RTG Group, a concept whereby the company would have corporate “givers” buy food from RTG which would then be donated to charities.
Sramana Mitra: What about the business model? Your hypothesis at that point was that you were going to digitize these textbooks, you were going to do the customer acquisition on the B2C side, and you were going to take a commission off that sale. What was the business model assumption with the publishers?
Matt MacInnis: They were taking all the rest of the money. It was a royalty-based model where Inkling was keeping a percentage of the sale of these titles. The publishers had all the leverage. The publishers got to set the price. They unilaterally controlled the transaction value and we just got a percentage of that. In hindsight, they were totally off. >>>
Today’s 336th FREE online 1M/1M roundtable for entrepreneurs is starting NOW, on Thursday, January 19, at 8:00 a.m. PST/11:00 a.m. EST/9:30 p.m. India IST. Click here to join. All are welcome!