How to transition your service business to a product business?
Andrew Torba is the co-founder and CEO of Kuhcoon. Kuhcoon is a Facebook Ads management and optimization tool used by thousands of Facebook advertisers worldwide. Kuhcoon enables you to monitor your Facebook Ads from the palm of your hand.
What is your business background?
I studied Philosophy and Entrepreneurship as an undergraduate at The University of Scranton and Co-Founded my first startup when I was a Freshman. I spent a year, thousands of hours, and a lot of my savings to learn some valuable lessons about business, life, and leadership. In 2011 I Co-Founded my second company, Kuhcoon, with Charles Szymanski, who has been my best friend since the 8th grade.
Why did you decide to start Kuhcoon?
Kuhcoon started out as a social media consulting agency. After working with clients from around the world we discovered a lot of problems in the industry that we wanted to solve with technology. Specifically we wanted to build mobile-first, industry agnostic marketing tools for advertisers of all sizes. The ecosystem of third-party social advertising tools is really centered around enterprise advertisers, leaving a massive gap and unmet need for millions of small business advertisers. We believe that mobile is not only the future of paid media placement, but also of paid media management. Our goal is to empower social advertisers around the world to manage, monitor, and optimize their social ad campaigns from the palm of their hands.
How would a business use Kuhcoon?
Businesses who advertise on Facebook can use Kuhcoon to:
-Monitor Facebook Ads from the palm of their hand.
-Optimize campaigns to cut costs and increase conversions with the push of a button.
-Favorite Ad Sets and Ads to track top performing campaigns.
-Search, sort, and filter to find every campaign and ad.
-Track performance and results with campaign insights.
-Pause and start ad campaigns from their mobile device.
We’ve simplified the complex process of managing, tracking, and optimizing Facebook Ad campaigns to save businesses time, money, and frustration. Kuhcoon Optimized Ads automatically improve the performance of Facebook Ads through powerful data-driven technology. Our goal is to save advertisers money and time while making Facebook Advertising easy, mobile, and fun.
How is Kuhcoon differentiated in the market place?
There are a few reasons we are different from anything else on the market.
1. Automatic optimization. -Many tools on the market right now are really just glorified versions of Facebook’s Power Editor. They add a few bells and whistles, change the design a bit, and still make you do all of the work. Kuhcoon ads automatically optimize your campaigns to increase conversions and lower your costs.
2. Mobile. -Kuhcoon is the only company on the market with a focus on mobile applications. Take your ad campaigns with you on the go to manage, monitor, delete, pause, edit, and optimize all from the palm of your hand.
3. Price. – We only charge users monthly based on the total amount of ad spend being optimized. We offer pricing solutions for advertisers of every size and have the most competitive pricing on the market starting at just $9 a month for up to $1,000 in optimized ad spend.
How did you validate your idea?
We started with a few problems that we had internally as advertisers:
1. Why can’t I control my social ad campaigns from the palm of my hand?
2. Why is it so difficult to optimize campaigns for the best results?
3. Why is there no software solution for smaller advertisers?
We spoke with other advertisers and learned that there was a massive need for a mobile product in the marketplace.
How many business are using Kuhcoon?
We launched out of beta in June of this year and now have over 4,000 advertisers worldwide using Kuhcoon. We are growing by about 40-50 new advertisers a day.
What is your revenue model?
Kuhcoon monitors the spending habits, bid price, and results of your Facebook Ads around the clock. Kuhcoon Optimized Ads are constantly making adjustments to your campaigns automatically in order to find the highest converting audience segment for the lowest price. We do this by discovering the best time of day to run your ads, adjusting your bid as the price fluctuates, and finding the right people in your target audience who engage with your campaigns.
Kuhcoon is free to use for advertisers who simply want to monitor, pause, and edit campaigns on the go. We only charge users monthly based on the total amount of ad spend being optimized. We offer pricing solutions for advertisers of every size and have the most competitive pricing on the market starting at just $9 a month for up to $1,000 in optimized ad spend. We also offer two other packages for larger advertisers and custom pricing options for enterprise advertisers.
What is your marketing strategy?
We use our own product to run optimized mobile app install ads on Facebook to convert new users. We also leverage Facebook’s Custom Audience targeting to keep our users engaged and go well beyond simply sending an email when we have a new product announcement or content to share. Retargeting ads on Facebook and Twitter have performed outstanding for us in terms of keeping our users engaged. Outside of this we create content on Slideshare, Medium, and also use Twitter advertising to acquire users and educate the market on the value of our product.
What marketing channels are the most effective?
Facebook and Twitter ads are by far our most effective marketing channels. We believe social advertising is the future of paid media and we are certainly eating our own dog food when it comes to our marketing efforts internally.
Check out Kuhcoon.
The post How to Transition Service Business to Product Business – Interview with Kuhcoon CEO Andrew Torba appeared first on iPromoNews; Local and Social Networks Marketing & Advertising for Small Business.