We want to tie together the whole sales funnel from top to bottom, so that people know this marketing channel leads to this type of customer. You can start to reduce your customer acquisition costs in relation to the lifetime value of a customer.
Here are reasons to go to Kansas City: you love eating succulent barbeque; you love to watch live baseball featuring the reigning World Series champs and the scariest bullpen in MLB; you love watching Alex Smith play quarterback because it’s the ultimate case study on conservative quarterback play; you love mustachioed football coaches that continually bumble end-of-game clock management scenarios; you were just accepted into the 2016 Sprint Accelerator powered by Techstars cohort.
For the sake of this article, we’re going to concentrate solely on the final reason because of simple (and relevant) rationale — Lehi-based Nozzle is heading to Kansas City to participate in the 2016 Sprint Accelerator powered by Techstars cohort.
“Our goal is real-time customer acquisition analytics,” said Derek Perkins, CEO of Nozzle. “We want to tie together the whole sales funnel from top to bottom, so that people know this marketing channel leads to this type of customer. You can start to reduce your customer acquisition costs in relation to the lifetime value of a customer.”
Along with Joe Bergevin and Tanner Linsley, Perkins founded Nozzle over two years ago and began the process of building out a digital marketing platform that provides companies a crystal-clear window into the sales funnel, basically defining all of the delicate nuances involved with customer acquisition.
“We want to apply these principles, so if I bring in customers from search, social media, or paid advertising, who turns into the best customers?” said Perkins. “Then we can create a feedback loop.”
Larger companies already use a variety of marketing tools, ranging from Google Analytics to Hubspot to Salesforce. Nozzle plans on being able to integrate with all of these pieces in order to get a complete view of how a company acquires customers. From a marketing perspective, this in turn allows them to clearly define the most effective ways to move forward.
“There have been a number of times when we could have launched a MVP (minimum viable product) faster, but it wouldn’t have supported our long-term vision,” said Perkins. “It’s taken us longer to get to revenue and to a significant customer base because we want the tech to support the long-term vision. Marketing technology is blowing up like crazy and there’s pretty much no end to the number of things you could integrate with.”
Perkins is hoping that the three month program in Kansas City can provide the tools and resources Nozzle needs to continue growing.
“I feel like we’re in a good spot as a company because before we get to the whole vision of the integrated sales funnel, we already have a product that is really valuable to people,” said Perkins. “We can start selling that and every time we add a new integration, that’s a new revenue piece.”