Pricing Engine Brings Big Business Marketing To Entrepreneurs

Pricing Engine Brings Big Business Marketing To Entrepreneurs
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  Pricing Engine Brings Big Business Marketing To Entrepreneurs  When you’re running a small business, your primary focus is just doing your day to day work. Serving customers, making  your product, etc. Usually the last thing you want to worry about is marketing, even though that’s a vital part of the process. What’s more, marketing these days is more than just a few ads in the local paper or phone book. You’ve got to market online –  and there is a dizzying array of choices for marketing when  you try to do that. That’s where  Pricing Engine hopes to fill the void. The company, which launched its marketing platform on Friday, aims to be a “one stop shop” for small business marketing. “We looked at the market,” CEO Jeremy Kagan told me. “And we saw that there was plenty of stuff out there to help big companies. But they’re expensive.”   Saving Customer Service With Social Media - And A Song   “If you’re the pizza guy down the road,” he continued. “He’s competing with Domino’s and other big chains. But they can spend millions.”    Kagan told me that when they conducted focus groups with small businesses, many of them only visited their online ads once per month or so. They would rewrite them –  or have a college intern or family friend rewrite them –  but they had no point of comparison to see how they were doing. It was with this average small businessman in mind that the company approached their problem. What they created was a platform where someone can go, place ads across Google, Yahoo and Bing, and then get a simple letter grade to see how well their ads are doing. Those grades are based on anonymously comparing the data for all of Pricing Engine’s customers, so that  businesses are graded in comparison to their peers. The platform also creates action lists that small businesses can follow to quickly do the marketing that they need to.  Although the platform officially launched on Friday, it’s been in beta since the summer. Before the launch, they already had over 600 customers. Most of their customers are small businesses, but they also do work with advertising resellers, who have adopted the platform for use with their clients. The data gathered so far has provided a platform that Pricing Engine hopes will grow their business. They also already have a strong partner. XO Group Inc., parent company of the Knot, the Bump, and other similar websites has invested $1 million into Pricing Engine’s Series A funding. David Liu, the company’s CEO, will also have a seat on Pricing E ngine’s board of directors. However, XO’s interest in the company is non-controlling –  so Pricing Engine is free to seek out whoever they want as a customer. Pricing Engine uses a freemium model to garner its revenue. The basic platform is free, but there are different options to upgrade at different pricing levels. So far, the company has seen a 25% conversion rate from free to paid services. Even while they were in beta, the company was earning over $10,000 a month in revenue. Not that Kagan’s satisifed w  ith that. “We want to be the start page for small business for internet marketing,” he said. “Our goal is to be pulling in millions per month.”  
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