You subscribe to the software monthly for $5, $10 or whatever the price is. Microsoft will get a cut. Maybe 10%-20% and Verb gets the rest.
I think the pitch here is it's a quick and easy way to send someone a personalized and interactive video without sending a big file, nothing to download, etc.
Just with Outlook, it has the potential to go viral. If you get one and it's interactive, people are going to ask, how the heck did you do that. They tell two friend, etc.
I am always sending screenshots marked up with red circles, arrows, etc. to help people learn or fix something. Bunch of times a day.
Now what if I could just fire up a video, open the app, show them where to click and be done in 30 seconds. Much faster and I know the recipient would love it. Half the time the biggest issue is, people don't read the email to begin with.
ROI can easily justify the subscription fee and the use case I shared isn't even about sales so think about all the user cases around communication, education, etc.
Now if this takes off like crazy, Microsoft could just make it a standard feature but that wouldn't be in the near-term. If they did, Verb would licensing it to Microsoft or just buy Verb.
Keep in mind Microsoft already has Teams, Stream, Skype so the fact that they are allowing Verb to plug straight into Outlook is telling. Now you could say, they have a ton of other apps that do too, but they do vet who they want/allow.
Some vendors don't. Take a look at Google Play store vs Apple's App Store. Apple doesn't approve a lot of apps that Google will just because they set the bar higher.
Not for the rest of what was said on the earnings call.
Verbs Hyper-growth Initiatives. Since there isn't a name yet I'll just make one.
1. verbAttribution
2. verbAffiliate Marketing
The implication of these two initiatives is mind-boggling and I am pretty sure that didn't come through on the call. At least not for me and I needed to read it.
Let's take a direct sales example. I could be a top level distributor and hold a conference and tell all my downline to invite their family/friends/etc. to the call. Before, why would I want to do that? Maybe that person would sign up with them. Now everyone I invite, I can benefit if they signup, buy, etc.
Let's say I run a landscaping business. I could use this to reward every customer referral. Dentist, dealerships, hospitals, stores, etc.
Companies that sell loyalty and rewards software exist and have for a long time. None that I know are connecting with video. Most do the email thing and then track if you clicked. That's so 2020.
To do what Verb is doing around these two initiatives in not easy and hard to duplicate. They also have some patents around this and I suspect will continue to update them.
How does all this work. Does it know when I forward the invite I automatically get credit? I bet this is a little complex behind the scenes.
in-App Purchasing
Good to hear they have a few apps in the verb App Store for in-App purchasing. I suspect that will grow over time but not the top priority resource wise
verbTEAMS
Has been a long time coming. Part waiting on the uniting of Verb & Solofire. The ability to self-purchase and get up an running yourself is a big deal as you can't keep hiring people to do the selling, setup, training and support. Self-service means margins go up
verbOUTLOOK
Already talked about this, but one thing worth mentioning is contacts. For what Verb, Salesforce, Microsoft and others do, easy access to your contacts is king. What could be any easier than to be in Outlook where your contacts are?
verb New Division
Not discussed, but anyone that read Matz post and looked up Kym Nelson's profile has a hit of what is coming.
"One thing I would add to that, Brian, we’re really beginning to see some big logos, big businesses join. This quarter, we added Market America, which is huge, huge, huge enterprise, and we also added Shaklee, which I think—I think we have a press release that you’ll see in the morning tomorrow."
Market America (shop.com)
To land this company and Shaklee as customers is telling. These huge companies are watching the success of Verb over the last year and are signing up. Really hard to get one of these big brands to chain and they are signing up. Rory talked about the base value of those contracts. I wouldn't be surprised is the base value is just the tip as these feel like $1M type of clients and they are open to Verb upselling to their distributors
Shaklee
I like watching Shaklee.TV. Watched it for an hour yesterday. Was thinking about verb.TV coming. Shaklee did sign up for the sampling. They were demo-ing how to do it and then paused on the call for 5 minutes while everyone actually did it for real. Sampling will continue to grow and Verb gets a nice fee on each. Oh and Shaklee has a number of apps, but they are very excited on what their Verb app can do.
https://shaklee.tv/search/perform?search=app
I think the pitch here is it's a quick and easy way to send someone a personalized and interactive video without sending a big file, nothing to download, etc.
Just with Outlook, it has the potential to go viral. If you get one and it's interactive, people are going to ask, how the heck did you do that. They tell two friend, etc.
I am always sending screenshots marked up with red circles, arrows, etc. to help people learn or fix something. Bunch of times a day.
Now what if I could just fire up a video, open the app, show them where to click and be done in 30 seconds. Much faster and I know the recipient would love it. Half the time the biggest issue is, people don't read the email to begin with.
ROI can easily justify the subscription fee and the use case I shared isn't even about sales so think about all the user cases around communication, education, etc.
Now if this takes off like crazy, Microsoft could just make it a standard feature but that wouldn't be in the near-term. If they did, Verb would licensing it to Microsoft or just buy Verb.
Keep in mind Microsoft already has Teams, Stream, Skype so the fact that they are allowing Verb to plug straight into Outlook is telling. Now you could say, they have a ton of other apps that do too, but they do vet who they want/allow.
Some vendors don't. Take a look at Google Play store vs Apple's App Store. Apple doesn't approve a lot of apps that Google will just because they set the bar higher.
Not for the rest of what was said on the earnings call.
Verbs Hyper-growth Initiatives. Since there isn't a name yet I'll just make one.
1. verbAttribution
2. verbAffiliate Marketing
The implication of these two initiatives is mind-boggling and I am pretty sure that didn't come through on the call. At least not for me and I needed to read it.
Let's take a direct sales example. I could be a top level distributor and hold a conference and tell all my downline to invite their family/friends/etc. to the call. Before, why would I want to do that? Maybe that person would sign up with them. Now everyone I invite, I can benefit if they signup, buy, etc.
Let's say I run a landscaping business. I could use this to reward every customer referral. Dentist, dealerships, hospitals, stores, etc.
Companies that sell loyalty and rewards software exist and have for a long time. None that I know are connecting with video. Most do the email thing and then track if you clicked. That's so 2020.
To do what Verb is doing around these two initiatives in not easy and hard to duplicate. They also have some patents around this and I suspect will continue to update them.
How does all this work. Does it know when I forward the invite I automatically get credit? I bet this is a little complex behind the scenes.
in-App Purchasing
Good to hear they have a few apps in the verb App Store for in-App purchasing. I suspect that will grow over time but not the top priority resource wise
verbTEAMS
Has been a long time coming. Part waiting on the uniting of Verb & Solofire. The ability to self-purchase and get up an running yourself is a big deal as you can't keep hiring people to do the selling, setup, training and support. Self-service means margins go up
verbOUTLOOK
Already talked about this, but one thing worth mentioning is contacts. For what Verb, Salesforce, Microsoft and others do, easy access to your contacts is king. What could be any easier than to be in Outlook where your contacts are?
verb New Division
Not discussed, but anyone that read Matz post and looked up Kym Nelson's profile has a hit of what is coming.
"One thing I would add to that, Brian, we’re really beginning to see some big logos, big businesses join. This quarter, we added Market America, which is huge, huge, huge enterprise, and we also added Shaklee, which I think—I think we have a press release that you’ll see in the morning tomorrow."
Market America (shop.com)
To land this company and Shaklee as customers is telling. These huge companies are watching the success of Verb over the last year and are signing up. Really hard to get one of these big brands to chain and they are signing up. Rory talked about the base value of those contracts. I wouldn't be surprised is the base value is just the tip as these feel like $1M type of clients and they are open to Verb upselling to their distributors
Shaklee
I like watching Shaklee.TV. Watched it for an hour yesterday. Was thinking about verb.TV coming. Shaklee did sign up for the sampling. They were demo-ing how to do it and then paused on the call for 5 minutes while everyone actually did it for real. Sampling will continue to grow and Verb gets a nice fee on each. Oh and Shaklee has a number of apps, but they are very excited on what their Verb app can do.
https://shaklee.tv/search/perform?search=app
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