As always we have tried to remain open and give you a look inside the launch of a new company with new technology and a completely unique business model.
Membership continues to grow and our users are emailing us positive stories about their experiences. It is good to read about the transactions that they are closing and that they are telling their close friends. Now if we can keep them from trying to keep their new source of leads a secret it would be fantastic. But that is not always possible.
Our representatives have all been trained up now and are finding it easier to communicate the benefits of the reverse advertisement business model. This is no small feat when we realize that when most people see Qazzoo they don’t understand the value proposition and most forget how it works soon after it is explained.
Managing expectations. The fact that Qazzoo allows up to four different agents or lenders select a profile means that there will be some degree of competition. Most people shy away from competition and therefore find themselves in the wrong arena. Qazzoo is for closers and relationship builders. Every lead is not a deal and every lead will not become a client unless the professional is willing and able to use a degree of persuasion to convince the client why working with them is the best choice.
Qazzoo has now been issued several patents on our reverse search technology which allows people to search for other people based on the interests of the people involved. Either through the persons online profile or by search terms, posts or a number of different methods. We have several other patents in the works to cover the many nuances of what Qazzoo can do and we will keep you advised as things unfold here.
We have seen a major increase of press coverage but it is still hard to get the attention of the world when you are not a goliath with deep hairy pockets over flowing with cash.
Some of the problems that we have had that are hard to overcome are in no particular order:
Garnering positive press. Even when we were recently covered by a major publication, they didn’t bother to take the time to call us or ask us any questions. They also didn’t take the time to understand the value proposition and instead took the easy road and wrote a sarcastic piece that compared Qazzoo to companies that they were familiar with so that they could draw correlations that do not exist. This is not unusual when people don’t fully understand something and are asked to write a quick blurb. People often feel that the entertainment value of being snarky is a fair exchange for accuracy or understanding.
Finding a qualified PR firm has been a real challenge. We have interviewed more PR firms than we care to count. The large PR firms often overlook the up and comers while the smaller PR firms may suffer from a lack of bandwidth to take on a serious project as they are more comfortable with local small businesses and getting them to see the bigger picture can be challenging. Keeping the company out in the press with releases and social media is an absolute necessity but small companies don’t always have the ability to take on all the outreach programs that are needed. If we could do it all internally…we would, but that is impractical and not our core competency. More on this in a later post.
Advertisement dollars are invested carefully as we are balancing quality with quantity constantly. I was recently shown a Venn Diagram by an old friend that illustrates the old adage “Quick, Cheap and Good…Pick any two” in a different way. This time it is about niche markets and how to determine if what you are building is what the people want (Desirable) and are they willing to pay for it (Profitable) and then most importantly is practical to create it (Buildable). As far as I am concerned I would like to add a third circle to this diagram, Easily understood and adoptable. This is where the perception is different from reality and when reality is not what is expected, people don’t know what to think.
The vision is to grow our membership base next year by 300% but that will only be possible if we are able to organize the issues that we have outlined above and approach each one with the same dedication that has propelled us to this point. Momentum in our friend and we need to maintain it or we will stall and regaining the lost momentum takes months.
So that is it for our current look under the Qazzoo hood.