Duck9- Deep Underground Credit Knowledge Larry Chiang Founder Duck9 Case Study “Digital Underground Credit Knowledge 9” July 11, 2008 Case Study: Lead

Duck9- Deep Underground Credit Knowledge

Larry ChiangFounder Duck9Case Study “Digital Underground Credit Knowledge 9”

July 11, 2008

Case Study: Lead Generation on a Shoestring Budget

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Larry Chiang Foo CampJuly 11, 2008

State of the Industry

Money Out > Money In

Shark Fin isn’t jumped when bridging to real world lead generation

Facebook apps are NOT virally spreading utilitarian apps

UGC, WOM all affect our brand (UGC- user generated content. WOM -word of mouth)

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Agenda. 3.7 yrs boiled into 18min

Leveraging the social network effect with user generated content

Catalyzing brand participation from sponsorship or logo display

Teasing consumers into a brand experience (slide will have p0>p10)

Tickling a call-to-action with "Second Supplier Gambit" (SSG) in mind

Battling “banner blindness” to get to awareness (and even engagement)

Leveraging C.A.T (consumer advocacy truth) when buying online media

Bite size-ify-ing your message morsel with buzz, viral, WOM brand platform

Branding in the negative attention economy with online/offline contests

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Lead Generation Treasure Map

1. ACQUISITION

Banners

SEMO

Government Affairs

FICO Contests

Email

PR SSG

Sponsorships

CSS

UGC Wiki

Tabling

Direct Mail

3. RETENTION

Second Stage

Premiums

SMS & email alerts

24 months to FICO over 750

2. Activatio

n

No Comm on Referral Program

FICO Prep

4. REFERRAL

Coupon to Cut Waitlist

Bite size the C.A.T.

message

5. Revenue $$$

GoodwillApps, Lead Gen, Loans, etc

duck9.com

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Duck9 in a nutshell

New brand for college vs the 20 credit card ad messages students see per hour

Duck9 sends SMS reminders to college students to hack credit score

Get reminded and manipulate your FICO score to 750

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Duck9 uses Mentor Marketing to Tease and Redirect Internet Traffic

Adopt a Consumer Advocacy Truth (CAT)

Get emotional Develop an Educational Angle

to promote your CAT Cut it into bite-sized pieces

(Cut & Pastes) Make it temp- Come Grow Go Become #2 (Second-Supplier

Gambit)

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Duck9 Ranks and Migrates Online Prospects

Levels P1 to P10

Level P7 bought something

Prospect Heat Maps Prospect Level vs Cost per lead Prospect Level vs Revenue per lead

Migrate by Mentoring

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Leveraging CAT in Online Ad Buys

CAT, consumer advocacy truth, leads your banner campaign to solve ONE problem

Banner blindness for teaser offers or low rates

Rope clickers into doing something educational

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Converting Clicks into Contestants

Pre lead, lead generation

Easy to do

Tie your contest to brand activation

Work your lead funnel by…

…ranking

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Duck9 Prospect Ranks

P2 is jeopardy user (contestants enter here)

P3 is registered web user P4 is logged back in once or interacted

with Duck9 email P5 is conveyed credit data, debt data,

etc P6 is does something P7 is “buys” something P8 is refers P9 is writes, blogs, invites, hosts P10 is buys something as an adult

P1 is trying to unsubscribe P0 is hates Duck9

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Newsletter Your Contestants

Reinforce your “truth”.

Enter late and leave early

Make it easy to recite

Holy grail is becoming a second supplier

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Good News: You’ve Won

Contestants win in stages

Migrate up the prospect ranks

Drive them into you CAT

Holy grail is becoming a second supplier. And set aside your need to sell them something

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Newsletter example

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Keys to Copying Duck9’s program

Connect with real world (seminars)

Do a contest (schwag in stages)

Rope contestants into doing something educational

Hone your unit economics We pay $3-5 and have a 50% of netting $20 in 90 days By providing phone support, we need to make $15-$100 per phone call

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Contest Form

.edu only

Ping cell before they leave with pizza

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Contest Form

.edu only

Ping cell before they leave with pizza

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Duck9 Campus Process

1. Contest that collects name, email, cell phone in person on campus

2. Provide immediate service reminding student to pay bill

3. Simultaneous SMS / email increases user task urgency

4. Second supplier gambit. Get to be the #2 supplier!

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“Danger Danger Will Robinson!”

Make it temporary

Keep it short

Don’t sell anything

Keep to your mentorship message

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Contest: where’s the credit app and the beer

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Get in. Get out. Let them get back

Unlike five digit short code, The 650-566-9600 # can be called back

Give them ‘Light’ at the end of the tunnel, “this is 17th of 24”

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Contest Form

Keep it simple

Get their pen to paper

Rewarded with Pizza after they show us SMS

Pick a prize (they win all three but we profile them. No debt, some debt and I don’t get it.)

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Samples

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Contest Form

Wealth of info!

No debt, Some debt, I don’t get it

Add’l “info”

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Deal emotionally with unsubs

We can take you off our list of successful people

We’re building a list of 1,000,000 college students with a FICO of 750

“Don’t ya wanna be a part of this?!” Service your unsub with one more service

Take it personally

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Refocus on Prospect Movements

P1 is trying to unsubscribe P0 is hates Duck9

P2 is jeopardy user (contestants enter here)

P3 is registered web user P4 is logged back in once or interacted

with Duck9 email P5 is conveyed credit data, debt data,

etc P6 is does something P7 is “buys” something P8 is refers P9 is writes, blogs, invites, hosts P10 is buys something as an adult

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Fraud –Add lead value by weeding

Age of email— quality of lead Match email to social networks

subscriber list Age of cell phone number

Match with carriers issuing Assume no transport by college

student Are they friends and family...?!?

Non typical profile of debtor Highly tech competent fraudsters

SMS from a landline! Semi-automated genius fraudsters

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Bibliography

Dave McClure at http://500hats.typepad.com

Josh Koppelman http://redeye.firstround.com/

Scott Rafer http://rafer.wirelessink.com/

Mark McCormack 1930-2003

90+% of my material is from the above four sources and applied to helping college students with their

FICO score


**** Contest: Play Bingo to win free stuff! Details Duck9.com/Bingo ****

Larry [email protected]

125 University Avenue, Suite 100Palo Alto CA 94301

Documents

Duck9- Deep Underground Credit Knowledge Larry Chiang Founder Duck9 Case Study “Digital Underground Credit Knowledge 9” July 11, 2008 Case Study: Lead