2. Promise Phelon
CEO, TAPINFLUENCE
As CEO of TapInfluence Promise has evolved the
company from a high-touch agency to a data and
technology-driven platform with 400% gross
revenue growth in 26 months.
TapInfluence is the only influencer marketing
platform with eight-plus years of data that is used
by more than 500 of the world's top brands and
the biggest & baddest agencies.
Serial entrepreneur. Successful IPO, tens of
millions in venture capital raised, two successful
founding and exits. The Silicon Valley Business
Journal named her a Woman of Influence for
leading high-growth technology companies.
4. Most of you will dramatically
change your target market,
ideal customer profile,
revenue model two to three
times in your first five years.
Transforming Your Business Model
6. 6
Transformation Timeline
2009
TapInfluence is founded
as an influencer agency.
2015
Promise joins TapInfluence
as CEO to accelerate
transition and growth.
2013
Brought in venture capital to
convert from agency to SaaS.
2016
Complete biz model transition.
Closed $14M Series B-1.
Tested Ideal Customer Profile.
2017
Moved TapInfluence HQ
to Silicon Valley (MTV.)
Refined ICP.
2018-2020
Marketplace scale. Influencers
earn 3X more than drivers and
makers. The average active
monthly influencer income is:
$1,000-$1,700
7. 7
1Phase of the Transformation (Pre-PP)
TapInfluence attempts to convert from
Services to SaaS in 2013, spent two
years trying to make it happen. It’s hard:
need SaaS experience, new product,
willingness to start-over (#fail.)
9. 9
Define ideal customer and MVP. Built self-
service “on” and “off-ramps” to platform.
Signaled change to the market and the
impact on pricing, product and experience.
Introduced phased transition plan to
customers (based on their contract value,
potential and profitability.) Primed our
marketing and product teams.
2Phase of the Transformation
10. 10
Lesson | Active Product Marketing
Startups are vessels for market
exploration. You’re always actively
looking for your Ideal customer,
it’s not static. Create personae and
iterate on values, readiness and
baseline unit economics.
11. 11
Retained most of our strategic accounts.
Grew several customers through self
service product developments, sales
& marketing, positioning, pricing. Off-
boarded others to agency partners.
3Phase of the Transformation
12. 12
When your transformation creates
a change in customer behavior,
the most important function is
proactive Customer Success.
To be honest, this was bumpy.
Lesson | True Customer Success
14. 14
Two years of data means real unit
economics. Ideal customer was 180° from
who we thought in 2015. This is ok!
Customer profitability and unit economics
should improve over time. LTV:CAC,
Engagement and Adoption are essential.
4Phase of the Transformation
15. 15
If you are making a model
conversion or looking to growth,
your instinct are to scale when you
see the early results. Do not! Get
scalable unit economics. It’s better
to wait, preserve capital. 6.5 v. 2:1.
Lesson | Get Economics Right
16. 16
Get aligned with your board,
investors and key team. Make the
transformation quickly. Set iterative
milestones. Over-communicate.
Lesson | Manage BOD Expectations.
17. 17
5Phase of the Transformation
2014 2015 2016 2017 2018
Tap Net ARR - In-Year vs Trailing Qtr
Trailing Qtr In-Year
18. 18
• Treat all of this as a learning experience.
• Culture is easier to create than change.
• Our personal shadow qualities limit our business. Get a
coach, do what you love in the business.
• Have a No-Vampire Rule.
• When in doubt, lean on discipline and not motivation.
Real Lessons | Self Care
19. Thank You!
T A P I N F L U E N C E . C O M
ceo@tapinfluence.com
@PromisePhelon@TapInfluence
Promise Phelon
CEO, TAPINFLUENCE