21 min
Genius Viral Strategy: Growing Our Live-Music Vertical SaaS to an Incredible $6M+ ARR B2B SaaS Podcast
-
- Entrepreneurship
In this episode host Upendra Varma welcomes Matt Ford, co-founder and CEO of Prism FM, a vertical SaaS solution for the live music industry.
Here are the talking points,
Product:
Prism FM organizes all elements of planning live events, including financials, paperwork, payments, and accounting.
Understanding the Customers:
Prism serves various customer profiles, including music venue owners, performing art centers, Broadway organizers, and talent agencies.
Origins and Background:
Matt's journey into building Prism stemmed from his experience as a concert promoter and tech entrepreneur.He identified the industry's need for a software system to streamline operations.
Initial Growth and Challenges:
Matt initially closed the first 20 deals personally, leveraging his network and attending conferences.Transitioning from founder-led sales to a team-based approach, Prism explored channels like SEO/SEM and traditional marketing.
Sales Process and Pricing Strategy:
Sales cycles vary, with smaller deals closing quicker and larger deals taking longer.Prism employs a sophisticated sales pitch focusing on price validation and showcasing value through time and efficiency gains.
Product Marketing and Network Effects:
Word of mouth plays a significant role due to inherent network effects, with existing users advocating for Prism within their networks.Product marketing emphasizes the platform's ability to connect and streamline workflows between venues and talent agencies.
Team and Product Development:
Prism's team consists of 26 members primarily focused on product development, engineering, sales, and customer support.Matt underscores the importance of in-house product development, emphasizing quality over outsourcing.
Funding and Vision:
Prism recently closed a $5 million Series B round, totaling $15 million in funding.Matt envisions Prism becoming an industry standard within the live music sector, with plans for expansion and potential acquisitions.
Future Growth:
While specific revenue targets remain uncertain, Matt believes Prism has the potential to reach hundreds of millions in recurring revenue.The focus remains on evolving the product to meet industry needs and capitalize on network effects.
In this episode host Upendra Varma welcomes Matt Ford, co-founder and CEO of Prism FM, a vertical SaaS solution for the live music industry.
Here are the talking points,
Product:
Prism FM organizes all elements of planning live events, including financials, paperwork, payments, and accounting.
Understanding the Customers:
Prism serves various customer profiles, including music venue owners, performing art centers, Broadway organizers, and talent agencies.
Origins and Background:
Matt's journey into building Prism stemmed from his experience as a concert promoter and tech entrepreneur.He identified the industry's need for a software system to streamline operations.
Initial Growth and Challenges:
Matt initially closed the first 20 deals personally, leveraging his network and attending conferences.Transitioning from founder-led sales to a team-based approach, Prism explored channels like SEO/SEM and traditional marketing.
Sales Process and Pricing Strategy:
Sales cycles vary, with smaller deals closing quicker and larger deals taking longer.Prism employs a sophisticated sales pitch focusing on price validation and showcasing value through time and efficiency gains.
Product Marketing and Network Effects:
Word of mouth plays a significant role due to inherent network effects, with existing users advocating for Prism within their networks.Product marketing emphasizes the platform's ability to connect and streamline workflows between venues and talent agencies.
Team and Product Development:
Prism's team consists of 26 members primarily focused on product development, engineering, sales, and customer support.Matt underscores the importance of in-house product development, emphasizing quality over outsourcing.
Funding and Vision:
Prism recently closed a $5 million Series B round, totaling $15 million in funding.Matt envisions Prism becoming an industry standard within the live music sector, with plans for expansion and potential acquisitions.
Future Growth:
While specific revenue targets remain uncertain, Matt believes Prism has the potential to reach hundreds of millions in recurring revenue.The focus remains on evolving the product to meet industry needs and capitalize on network effects.
21 min