How Eclincher CEO Gilad Salamander grew Eclincher to $5.7M revenue and 5K customers in 2024.

hello everyone my guest today is Gilead salamander he's an entrepreneur executive and enjoys visioning and creating innovative solutions for cloud mobile and web technologies he's co-founded eat clincher a platform to manage and analyze social media and online presence get out are you ready to take us to the top yes of course I'm ready all right good tell us about the company what do you do and what's your revenue model how do you make money all right so equally sure is a social media management platform and recently we integrated more online presence channels we helping businesses all over the world to manage everything from one integrated platform so they can connect to Facebook Twitter Instagram make the move applause with my business and many more channels it's really helpful for them they save tons of time every day rather than logging in to view of the networks they can manage everything's in one place we help them with publishing engagement analytics sorry you helped who a consumer or business or what we help businesses so our platform really helps businesses from all sizes from the micro small business all the way to large corporation government and so on surprised a lot of SM B's a lot of us abused and on average easily add what are these companies pay you per month for this so we we have three three main plans that we we offer and it's a based on monthly subscription or yearly subscription and the basic plan starts at 49 $49 a month premier $4.99 in 18 from 199 a month and that allows them to manage up to a hundred profiles to get it what's I don't want to go down every customer cohort what's the average so average payment yeah the average what is the average customer pay you per month about forty nine months okay about okay call it 50 bucks a month great and then give us more the history here when did you launch the company so we launched the company or this concept of social media management platform in 2014 and since since then we we developed and added features we really known for best ROI tool we were nominated Bhaiji - crowd lots of reviews and users as the best ROI tool in the market for social media management and marketing presence okay and have you bootstrap to serve you raise capital we did both so we have some angels investors so how much total have you raised to date from angels' total total capital how much have you raised to date I sorry okay well I mean I can just look it up real quick because you have to file with the SEC [Music] okay so okay you okay you raised $300,000 great and that wasn't on a convertible note you said our our straight equity it was a note okay great and what was this like I mean when did you raise that capital I know I think you're based in LA did you raise from local Angels or did you go to the Silicon Valley or what okay great did you use like a safe note a convertible note or what actually so yeah actually it's an equity equity base this was done back in 2013 okay so now it's not a note it was equity yes that's correct okay and I thought you said the company was created in 2014 but you raised in 2013 how's that work we cooperated that's okay 2012 we incorporated the company we'll start with a different concept and then we pivot in 2014 to social media management platform I see that's why I said that this company which is about more of a social media presence management really started in 2014 I see and what have you scaled to today in terms of total customers on the platform okay now those are actual paying customers or users Fraser's okay yeah yeah so what I'm curious about is how many paying customers do you have now on the platform okay couple can we say give me arranged can we say between a thousand and two thousand is that fair over five thousand okay that's great but put it put it put a lid on that for me so between five thousand and ten is that is that okay sure okay okay good that just helps you know it could be a million or 5,000 but saying between five and ten is is way more definitely is still in the startup category right so we're still building the company expanding we're getting you know expanding the team what's the team size today about twenty people okay I mean if I take just to be clear if I take that a five you said five thousand minimum customers at a fifty dollar price point that means you're doing about two hundred fifty grand per month is that accurate okay great and what are you growing at year-over-year so if you go back a year ago what were you doing so we're doing over a hundred percent year-over-year okay that means about a year ago you're doing about 125,000 bucks a month is that accurate yes whereas most that growth come from is it new customers or is it up selling your current customer base most organic we do have some paid but I would say over ninety five percent of it is organic more to mouth people or Farrell's you know like I said being you know we were nominated as another one platform in the market so being as such you know even Gilley I'm sorry what does that mean that could mean anything what does that mean so it means that users going to let's say to to crowd or cap arrow some other platforms and they write review about their experience and but you know how to use Equator and they say basically that this is you know the best tool that they use so far for what I really have why would they use you over HootSuite so it's just a lot easier it's more complete more features less expensive okay that's pretty much it right so why are you why are you speaking suits we yet why it just take time to grow a company you know in this kind of great is why are you talking about over ten percent month-over-month essentially right so that's that's a huge growth and it takes time to scale and grow company you know train people spend the money well it needs to be this takes time how will you they'll continue to take market share from HootSuite if that's indeed the case and they were founded in 2008 you know today tenure they're doing over a quarter of a million bucks you know annually super-healthy company sorry 250 million annually right so how do you keep stealing market share sure that's a good question so essentially you know when we do a demo or when a customer or a client start a trial you know a hundred percent of them or the vast majority of them will say wow this is the best platform that I use so far so this is a very big thing the conversion rate is extremely high for us what's our what's what's high it's it's way over 20% and that's from our free trial to paid correct okay so that's really high so that shows the satisfaction of the of the product and it really answered their pain points and solving their problems they require credit card for a free trial no look at HootSuite HootSuite does is an example yeah so other companies they do or they requires you to speak to sells the salesperson we don't have that it's kind of a shelf product we do support 24/7 so we help our trial users leads and customers 24/7 and that's something that they don't get in other platforms what is churn what is churn look like today it's very low it's a single-digit it's like are we talking like 2% logo churn per month sure 2% yes okay how is it to person I mean that's that'd be very rare in the SMB space usually it's four or five six percent because SM B's nine out of ten bought a business so yes so we get we get constellations a lot of them is mostly related to closed business or you know change plans but not not necessarily because of you know product did not meet their expectations yes so what it so what is your monthly turn so about two percent okay I know I just found it surprising that the number I guessed is exactly what yours was so it actually is two percent logo turn per month that's okay and and what do you know you have to get a new user to do in the first you know day they sign up to make them sticky what do we have to do yeah from an activation metric perspective what do you have to do in your platform the first day to get value from it so that you make them really sticky so yeah so in terms of value I mean it's really a few minutes and set up to connect on your accounts and then schedule or post and you ready to go so in terms of you know return on investment they're getting it within a few minutes of using the platform and then as they use it every day they discover more and more things that they can do with it you know like the inbox which is a great way to combine all the interactions with with users or consumers between the business and the consumers into one inbox so they kind of it's a discovery process for them during the first 14 days which is a trial period and you know if they need you know additional help we also have tutorial videos and we have the life support so typically you know customers if they're not savvy they may ask for help you know how do I connect Instagram account how do I convert it to a business account and questions like that so we're very helpful with that and and this type of questions is or or challenges those are the same for everybody out there including good suite give me a let me ask a different question how many people start paying but don't connect an account in the first week so typically they get the 14 days free trial and a lot of them you know most of them will convert in 14 or 12...