Insight
Gerard: Influencers monetize via brands while creators monetize audiences directly
“I think influencers probably make most of their money from brand partnerships and sponsor posts and sponsored content. Creators are people who are directly monetizing their audience, selling subscriptions, selling content you know, tips and that kind of thing.”
Insight
Gerard: Cold investor outreach should remain ultra-short with exactly one link
“Do, you know, five minutes of research about the person that I was emailing, try to figure out something about them, write a subject line that tied in what we were doing and something that I thought might interest them and then give them an interesting link to…”
Prediction Not checkable as stated
Gerard predicts software companies marrying tech and culture will win SMB SaaS
“And I think those are the companies that are going to really win in this category over the next couple of years.”
Assertion Not checkable as stated
Norby tripled trial conversion rates across every cohort over two months
“In the last two months, we've tripled our conversion during our trial, but we have an entirely paid product. We have no free tier and we have tripled the number of people that we are converting in every cohort.”
Insight
Gerard: Adopting a second product feature guarantees conversion for Norby trials
“As soon as they reach for that and as soon as they reach for that tool, as soon as they reach a certain threshold of engagement, we know that we're going to convert that person.”
Assertion Not checkable as stated
Gerard: Norby Has Hundreds of Paying Customers and Thousands on Waitlist
“I'll say that we have hundreds of paying customers. We'll keep it. We have a, we have thousands of people on our wait list.”
Disclosure
Gerard: Norby raised just under $4 million in July 2021
“So we raised just under four million dollars in July.”
Disclosure
Gerard pitched lower-priority investors eight times daily to practice
“The first two weeks I talked mostly to people that I didn't really care if I won or lost because I'd never done this before. And I just did like eight meetings a day for two weeks and just you know, practiced and fell on my face a lot and got a lot of very qui…”
Assertion Not checkable as stated
Norby average monthly revenue per customer is $18 to $19
“Average I'll say average revenue per customer per month is like 18, 19 dollars.”
Insight
Nick Gerard: Absorbing rather than projecting in new environments is undervalued
“I think it's a really, really undervalued skill to be able to walk into a place and absorb instead of project.”
Disclosure
Gerard: Norby charges $5 monthly for creators and $20 for brands
“Yeah, so we have two tiers called the creator tier and the brand tier. The creator tier is a five dollar a month tier, and the brand tier is 20 bucks a month.”
Assertion Not checkable as stated
Gerard: Norby Customers Split Evenly Between $5 and $20 Monthly Tiers
“It's pretty evenly split actually.”
Assertion Not checkable as stated
Gerard: Norby generates hundreds of signups per customer event
“Every time we do an event, every time we do programming or anything of that kind, we get hundreds of signups.”
Disclosure
Norby raised around $500,000 from Notation Capital in 2020
“We raised, honestly, we raised like half a million dollars. And that was basically just so that Sam, Steve, and I could go full time.”
