How to bootstrap your way into 500+ customers in more than 50 countries!
Competitor Price Tracking & Dynamic Pricing Software
Who Are You & What Business Did You Start?
I am Burc, the CEO & co-founder of Prisync, the competitor price tracking & dynamic pricing software.
How Did You Come up with the Idea?
I had many friends involved in e-commerce, either as entrepreneurs or employees. Those guys have been heavily focussing on competitor monitoring within their companies and all that monitoring was terribly manual, time-consuming and error-prone. I thought automating that could be a big fix for a massive problem in a giant market (e-commerce).
Describe the Process of Launching the Business
After clearly detecting the need in the market, we got together as the founding team to complement each other in both of the business & technical areas where our company would fall. As soon as we had our core team, we worked on ways to find the very initial financing to get things going. We applied to a few R&D grants in Turkey and fortunately we got accepted into 2 programs and had the early funding to fuel the prototype development till we get our very first traction.
Since Launch What Has Worked to Attract Customers?
To attract global customers, we heavily relied on all sorts of inbound marketing, where content marketing sits at the very center. We have been blogging almost since 1 both on our blog and also on many other major industry blogs via guest blogging. That helped Prisync to rank on top on many relevant organic search results on which our customers are looking for ways to fulfill their pricing intelligence needs.
Describe a Moment Where You Had to Overcome a Challenge – Before or After Launch
Well, that kind of happens every day but to draw something in readers’ minds, I think I may highlight our decision of sticking with SMB self-service SaaS business model when we had the dilemma of catering into both segments of the market such as enterprise and SMB. We had the majority of our demand coming in from the global SMBs, but from time to time we also had giant enterprise brands & retailers signing up for our demo and were requesting further information. Obviously, when we had those calls and meetings our early product was way behind what they requested. Resisting to those custom product features for those early enterprise-ish requests and sticking with our core product vision was and actually has been a massive challenge to overcome for all our team.
What Platforms Do You Use for Your Business?
As a SaaS company, we have a decent spending on various sizes of SaaS tools/platforms. Intercom is the driving force of communication for our team from the sales to customer success. Linkedin is also the go-to platform for our sales/marketing teams where we can easily mingle with our prospective our existing customers. I believe, we use more than 50 different SaaS products in our 30-person team.
Advice for Other Entrepreneurs Who Are Just Starting out
Especially for the non-technical founders out there, willing to dive deep into the tech business ocean.. Never wait too long till your product launches. Find ways to generate feedback or even early demand from customers without having a proper demand. Never shy away from talking to potential users. Craft your sales pitch way up so that when you have a product in hand, you’ll have a clear way to overcome all sales rejections, your weakest and strongest points in selling etc.
Where Can We Go to Learn More About Your Company?
Our website (prisync.com) goes through our various solutions in the range of competitor price tracking to Magento or Shopify-based dynamic repricing. We do share quite a bit of informative stuff about e-commerce and some interesting statistics about the industry on Prisync Blog. Also, needless to say, we’re quite active on Twitter/Facebook/Linkedin and all those profiles of Prisync are worth following.