Sramana Mitra: Let’s start with introducing our audience to Motus as well as yourself.
Craig Powell: I’m the President and CEO of Motus. Motus is a company that serves mobile workers who drive for work. In that, we have the most accurate mobile enterprise solution for fairly and accurately reimbursing employees who drive more than 3,000 miles for work. We’ve been in existence since the early 2000’s and underwent a rebranding in 2013, which was the time I arrived with several other senior leaders.
Sramana Mitra: Tell us a bit about how this works. What is the usage model? Architecturally, how is this structured?
Craig Powell: We service both large and small companies that have large distributed sales forces that drive non-specialty vehicles for work. What I mean by non- >>>
The entry of Amazon in the Indian e-commerce market has drastically changed the market landscape. Snapdeal’s market share has dropped to 14% from 19%, while Amazon’ market share has increased to 24% from 14%. Flipkart’s market share has dropped from 43% to 37%, and while it still continues to lead the market, its valuation has taken a drastic beating. >>>
Jagan built a niche software that solved a very specific problem and started selling it to enterprises for a lot of money. This story is a textbook case study of how well you can scale with no outside financing if you can identify a burning pain point in customers who are willing to pay a LOT to solve that pain.
Sramana Mitra: Let’s start at the very beginning of your journey. Where were you born, raised, and in what kind of background?
Jagan Reddy: I was born in India. All my schooling was done in India.
Sramana Mitra: Where in India?
Jagan Reddy: In Chennai. My schooling was all done in Chennai. >>>
The Nobel Prize for Literature and Economics were announced last week. This feature from The New York Times looks at the radical decision of awarding the highest literary award to Bob Dylan, the poet laureate of the rock era. For this week’s posts, click on the paragraph links. >>>
Sramana Mitra: Customer acquisition strategy-wise, what works for you the best?
Andrew Witkin: I’m in a few tech groups that are very strong SaaS businesses. For them, it’s very much that whole customer on ramping process. Of course, the sales team is very much responsible for that. They need to acquire customers when you’re a SaaS model because the value of each customer is so high. We’re more marketing-driven to send traffic to inspire people to come to the website and realize the solutions they can now afford using our platform.
Marketing is really there to drive a lot of that awareness and mid-funnel conversion whether it be through search. Our sales team is not built to go out and cold call. Once people come to the website and they want help, we built up a team to be able to, one-on-one, accommodate a customer’s unique needs. >>>
Sramana Mitra: We haven’t really talked about the ramp curve. You launched the business in 2010?
Andrew Witkin: Yes, in February 2010. By the fall of 2010, we made it a little more accessible for do-it-yourselfers. We allowed people to do templates so they can make a page of circle stickers only and not have to have die cut shapes. After we did that, about a year and three months later, we released the business version in 2012.
That’s when we started to see not only some incremental growth, but also some more substantial growth in terms of average order value and customer retention. All of a sudden, we had to revise our business plan. At the end of 2012, we were starting to hit very different types of forecasts which we hadn’t been able to do up until that point. >>>
Entrepreneurs are invited to the 326th FREE online 1M/1M roundtable mentoring session on Thursday, October 20, 2016, at 8 a.m. PDT/11 a.m. EDT/8:30 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.