Sramana Mitra: Let’s switch to the next piece of questioning. What do you see as emerging trends and open problems that you would recommend a new entrepreneur with expertise in your domain should be looking into? Mike Baukes: One of the things that is becoming increasingly apparent is a lack of understanding of not only
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Sramana Mitra: Fair enough. I agree with almost everything you said there. Let’s switch to the 30,000-foot industry question of what’s happening in the location-based optimization of advertising space in general. What are you seeing and what are the overriding trends? Ryan Golden: Currently, there’s not much going on in dynamic optimization. I think the
Sramana Mitra: If I understood you correctly, you are not like the FICO score in that you’re providing the software to score but in an internal mode. The scoring is not a published scoring. It’s a score that the enterprise is using to audit and improve their own security levels. Mike Baukes: We do both.
Now that you have a few paying customers, you need to figure out how to scale to a much larger customer base. Positioning is a discipline entrepreneurs need to master especially if they have aspirations of raising money. And even if you choose not to raise money, a crisp positioning enhances your odds of success.
Sramana Mitra: Let’s take maybe three customer use cases and talk us through how you have optimized their campaigns. Ryan Golden: We work with a lot of QSRs. As opposed to traditional ways of just drawing the radius around their stores, we focus on taking a macro location in finding pockets or areas where lift is occurring.
Mike Baukes: When most companies think about their transformation effort from an analog process to a digital process, they really want faster speed for delivery of those development activities. The reality is that a lot of organizations have this massive skill shortage that they really need to transform their workforce to be able to take