LeadBolt is a new online and mobile advertising and monetization platform. The company was founded in 2010.
SUB: Please briefly describe the services LeadBolt offers.
Carr: LeadBolt offers anyone, from website owners to mobile applications developers, a better way of earning money from their site, online content or mobile apps than they would through conventional advertising mechanisms like Google Adsense. In simple terms, Leadbolt is the new wave of monetizing content online and on mobile.
SUB: Who do you consider to be your competition?
Carr: As we are in the online advertising space, any online company from a CPA network to a CPC network could claim to be our competitors. Those networks though are focused more on offers not on the actual technology and optimization we perform that increase revenue for the web or app owner. We do more than just web and we truly believe with our innovative leading edge technology and expertise, that we don’t have direct competitors.
SUB: What differentiates LeadBolt from the competition?
Carr: Our revenue performance, user functionality, optimization capabilities, and multivariate testing, give us a strong competitive advantage against any networks. Our technology implements a revolutionary algorithm that automatically prioritizes the best ads for a particular website or app better than any networks out there. LeadBolt also provides exceptional customer service to its members helping them make more. As a collective of visionaries and pioneers, we not only aim to trump the competition in our market but to tap previously unexplored territory as well.
SUB: What are your target markets?
Carr: LeadBolt targets any website owners, developers, content owners, bloggers, forum administrators and online properties that have unique web content including videos, music, e-books, flash games, and other valuable assets looking to monetize better. On the mobile side, we target app developers and mobile site publishers.
We have a large international focus so typically anyone from any part of the world looking to make more online is our target market.
SUB: How are you marketing your services?
Carr: We are fortunate that a lot of the growth of our company has been generated virally. People found out about how much more they could make with is, implemented, were so impressed with the results ended up telling their friends and the cycle continued. Other than that we have of course tried some light advertising through the search engines but found nothing works better than word of mouth.
SUB: Where did the inspiration for the idea behind LeadBolt come from?
Carr: There were so many sites and content owners out there who were literally giving away highly valuable IP not making one cent from it. Many tried using the ‘traditional types of advertising’ like Adsense but were disappointed with the results. I felt there must be a smarter way that would generate returns if the advertising becomes more an interactive experience. Out of this desire, came an innovated and fresh solution that was built out into what you see today as Leadbolt.
SUB: What were the first steps you took in starting the company?
Carr: Having gone through the startup environment previously I knew the most important part to starting the business was coming up with a business plan. This helped me plan not only the model of the business but the resource requirements too. Once I knew the scale and magnitude I started putting the building blocks in place to make it happen.
SUB: What have the biggest challenges you’ve faced so far to building the business?
Carr: The biggest challenge so far has been in handling the exceptionally fast pace of growth within the company. I had planned for a slower ramp up but as the viral effect of happy customers kicked in we had more and more customers to satisfy. The technology kept pace but the resources required to service customers were very stretched as we rushed to cope with the demand.
SUB: Have you raised outside funding? Do you plan to raise some (or more) in the near future?
Carr: We are a private company so besides initial internal investors, we have not raised outside funds. Certainly with the growth we are working towards, raising external funding is not entirely outside of the question.
SUB: Where do you see LeadBolt in a year from now?
Carr: Leadbolt will become a preferred method of monetization by many of the mainstream website owners. We will be recognized as a viable option to those currently using in-house solutions to run their own ad space. After all, who knows how to monetize your site better than the experts in the field?
SUB: As an entrepreneur who has guided his company though the economic downturn, what advice do you have for entrepreneurs just starting out now?
Carr: Don’t let people tell you the market space is too crowded. There is always room for one more online. As long as you have thought through your plan, have faith in yourself, and know where you are going you can achieve anything. Remember too, technology is an enabler but does not replace the hard work, blood, sweat, tears and countless hours it takes to make a company successful. Good luck!
LeadBolt – www.leadbolt.com