Two weeks ago, we launched a new design for Postling (and many thanks to Jess and Kevin for their amazing design talent). Three weeks prior, I had written a blog post about how I raised $200k in 6 days at SXSW (including from Dave McClure in the time it took him to smoke a cigarette). I think it’s time to explain in more detail what happened and where we are going.
Postling v1.0 was a social media management tool for small businesses. It was $9/month with a 30 day free trial, and you could manage your blog / Facebook / Twitter / Flickr all in one place. We got several hundred users but not a lot of conversion into paid.
Postling v2.0 was the same thing, but expanded to allow multiple people to manage multiple brands, and targeted at enterprises. We made the single user version free, and it cost $30/month/license. We got several thousand free users and ~$1000/month in recurring revenue, but sales cycles were 4+ months, investors didn’t see anything interesting, and we were pretty inexperienced (and uninterested) in enterprise sales.
With this launch of Postling v3.0, we are getting back to our roots with small businesses but expanding the vision a bit. My goal for Postling is to be the dashboard for local businesses that brings together the best tools they need and teaches them, via community and algorithms, how to use those tools effectively, resulting in driving more people through the door. (Hat tip to Greg Battle for forcing me to write that positioning statement. It’s an incredibly helpful exercise.)
Another way of saying this is we want to solve two problems for local (brick & mortar) businesses: What tools should I be using for my business? How do I become an expert at using them?
It should be fairly obvious why we (and investors) like this idea so much better, but I’ll count the ways: bigger market, less competition, more potential for secondary (and tertiary) products, better alignment with our experience and passion, and stronger network effects.
With this new focus, we redesigned our site, launched Sidewalk Collective in NYC (coming soon to LA, SF, and Philadelphia), and have some seriously awesome stuff in the works. I’ll be describing those in more detail over the next few posts.