Allen Gannett talks about integrated marketing analytics, why marketing is looking less and less like a funnel, and the growth strategies he developed for a unique startup.

Today’s guest, Allen Gannett, is a leader in the science of marketing and creativity, and a sought-after investor in innovative technology companies. He is the Founder and CEO of TrackMaven; a General Partner at Acceleprise Ventures; and he is a frequent writer on creativity, leadership, and marketing with his work appearing in Fast Company, The Washington Post, The Next Web, and more.

TrackMaven is a marketing data and intelligence platform used by some of the world’s biggest brands, including General Electric, Microsoft, Marriott, Fidelity, and other Fortune 500 companies.

Acceleprise Ventures is an early-stage fund that invests in emerging software companies. Through Acceleprise and his personal investments, Allen has invested in nearly fifty startups ranging from language learning disruptors to next-generation artificial intelligence technologies.

Gannett has also been honored as a Forbes “30 under 30,” a World Economic Forum “Global Shaper,” a Washingtonian “Tech Titan,” and an Ernst and Young “Entrepreneur of the Year” Finalist.

We’re going to learn about content marketing and analytics, why marketing is looking less and less like a funnel, and how Allen developed growth strategies for a new kind of business.

“You can’t get ROI without engagement.” (click to tweet)

“Price is the ultimate decider of how you have to build your business.” (click to tweet)

In this episode, you’ll learn from Allen

• 5:00 – Give us an overview of the company and product, going into detail on some of the things that it offers.
• 5:10 – Their long-term vision is to be an integrated marketing and analytics platform. They want to provide all of the marketing and analytics solutions in one place.
• 6:00 – In a world where marketing is less and less like a funnel, it’s really important that your analytics are integrated and horizontal.
• 8:00 – Allen interviewed 15 people when he was validating Track Maven, and all 15 said they wanted to pay for the service.
  • “Our biggest lesson early on is that we weren’t charging enough. That is, I think, a classic entrepreneur’s mistake: you tend to undervalue what you build.”
• 11:00 – There’s a content marketing death spiral right now.
  • There’s an overwhelming amount of content, and high-quality content is starting to outperform
  • Marketing teams are starting to realize that content marketing and social media marketing are not a panacea, but just another arrow in the quiver
• 13:00 – Less is more. Just do things you know you can be great at. Even if you that means you’re not on every channel or maximizing the audience you think you can build, it’s way more important to focus on quality.
• 13:55 – One of the biggest issues is measuring impact and ROI on content and social media marketing. Allen thinks about analytics in two camps, and people make the mistake of only focusing on one of these two camps (usually ROI).
  • Leading metrics will help you in real time understand what your audience is reacting to at the top of the funnel
  • ROI metrics is showing you what revenue or return you’re getting from a piece of content
•  18:40 – Likes, follows, etc. aren’t vanity metrics, because they indicate that someone is engaging with your content.
• 19:25 – On B2B, closed one is a lot more important than pipeline generation.
• 21:55 – If you can’t get that first million in recurring revenue, then there’s usually something deeper that’s wrong with your product-market fit. Even if you only have a minimal amount of product-market fit, you should be able to reach that through grit and determination.
• 22:50 – To scale up, TrackMaven developed a two-pronged growth strategy:
  • Content Marketing – TrackMaven produces resources including reports and insights based on their database.
  • Event-driven approach – Because their product was in sort of a new category, TrackMaven got in front of people by going to as many trade shows as possible.
• 24:40 – Your marketing channels will be chosen by your price point. The higher the price of your product, the more hands-on and face-to-face your marketing will be.
• 29:30 – Quickfire Q&A

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Resources mentioned in this episode:

• TrackMaven
• Acceleprise Ventures
• Inbox by Gmail
• The Hard Thing about Hard Things by Ben Horowitz (affiliate link)

Answers to Quickfire Q&A:

1. If you could chat with anyone, dead or alive, who would it be and why?
   1. I think the standard answer for entrepreneurs these days is Elon Musk, and I’m just interested in how he learns and how he’s able to go into all these different industries.
2. Name a tool, app, or website that you can’t live without and why.
   1. Inbox by Gmail
3. Tell us something unique and interesting about you that not many may know.
   1. Allen had a period in his life where all he wanted to do was get on a game show, and he auditioned for Wheel of Fortune. He thought the process was a lot of fun, so he applied to a lot of reality shows and eventually was featured on Movers and Changers. He lost both. “So I am a serial reality TV and game show loser.”
4. What is your favorite business book and why?
   1. The Hard Thing about Hard Things by Ben Horowitz (affiliate link)
5. What is the top characteristic or trait that you look for in people you work with?
   1. Complete ownership
6. What is something you believe, but few others agree with you?
   1. I think the concept of genius is overrated, and people have a lot of latent ability to be better versions of themselves.

How to contact Allen:

You can learn more about TrackMaven at TrackMaven.com, follow them on social media @TrackMaven, and you can follow Allen on Twitter @Allen.

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