Berrios: Socially Rich lost all revenue after Facebook algorithm changes
Ramon Berrios · 1682 How He Helps Small Instagram Influencers Make Big Bucks from Major Brands · Mar 2, 2020 · at 0:56
Trend.io founder Ramon Berrios discusses the collapse of his previous company, Socially Rich, after platform changes by Facebook wiped out their revenue.
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“Yeah, we actually lost all the revenue. We figured it was a lot to do there with those clients. We had about 5000 contact information of people that we serve free trials to and customers, about 500 active subscriptions or so, so there was something to do there”
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More from Ramon Berrios
Trend.io abandoned traditional SaaS subscription pricing for a usage-based model
“In the past, we were your traditional SaaS model, but we noticed that that wasn't going to work well in the space just from trial and error.”
Trend.io eliminated its sales team to invest fully in product
“We got rid of the sales team. We invest a hundred percent of the products into the product.”
Berrios: Searching influencer databases solves less than a quarter of workflow
“When we were looking at all these other platforms, there were sort of like a database where you would search and find influencers. But tricky part is that that is not even a quarter of the whole process of getting to work with influencers. Searching for them i…”
Trend.io's average customer lifetime value is around $2,000
“We've been with this revenue model for about six months now, so our average lifetime value right now is around the 2000 range so far.”