Intercom: Revolutionizing Customer Communication: The Journey by Founders Des Traynor, Eoghan McCabe, and David Barrett.
Company profile
Company business details
Motivation to build the product
The founders were motivated by the need to improve customer communication and support in the digital age. They recognized that traditional customer service methods were often inadequate and sought to create a solution that would enhance engagement and satisfaction.Problem that their product solves
Intercom solves the problem of ineffective customer communication and support for digital businesses. The end users are companies looking to improve their customer service and engagement. Solving this problem is crucial as it directly impacts customer satisfaction and retention, which are vital for business growth.Their unfair advantage
Intercom's unfair advantage lies in its innovative use of AI technology to automate customer interactions, allowing businesses to handle inquiries more efficiently and improve response times compared to traditional customer service solutions.Strategies
Pre-Launch (Product Development & MVP)
Community Building through Events
The founder of ODF, through the Deep End podcast, hosted live conversations with influential figures like Owen McCabe, CEO of Intercom, to engage with the startup community. This initiative was aimed at fostering connections among aspiring entrepreneurs, helping them find co-founders, and providing insights into the startup ecosystem. The event was part of a broader strategy to create a supportive community for startups, encouraging applications for the next cohort and showcasing the value of networking and mentorship in the entrepreneurial journey.
Network-Based Customer Acquisition
In the early stages of Intercom, Eoghan and his team leveraged their personal networks to acquire initial customers. They reached out to friends, previous clients, and industry contacts, asking them to try out their new product. This approach allowed them to gather valuable feedback and refine their offering before launching it publicly. They managed to secure around 30 customers from their own connections, which provided a solid foundation for product development and customer insights.
Launch Stage
Content Marketing for Education
In the early days of Intercom, Eoghan McCabe and his team focused on educating the market through content marketing. They created a blog where they shared insights and learnings about their product and the industry. This approach helped them to build awareness and establish their brand in a crowded market. They produced numerous blog posts, which eventually led to a library of over 600 articles, helping potential customers understand the value of their solution. This strategy was pivotal in generating interest and demand for Intercom's services, as it allowed them to connect with their audience without traditional sales tactics.
Free Educational Resources
Intercom offered free eBooks on topics such as hiring a great VP of Sales and raising capital. These resources were designed to provide value to their target audience while subtly promoting Intercom's expertise in the SaaS industry. By sharing knowledge and insights, they established credibility and trust with potential customers, which ultimately contributed to their growth. This strategy of providing free educational content helped to attract leads and nurture them through the sales funnel.
Pay What You Want Pricing Model
For the upcoming ODF 23 cohort, the organization decided to implement a 'pay what you want' pricing model. This innovative approach was designed to encourage a diverse range of applicants, regardless of their financial situation, to join the program. The strategy aimed to foster inclusivity and generosity within the community, allowing those who could afford to pay more to help subsidize the costs for others. This model was a direct response to the community's previous successes and aimed to enhance participation and engagement.
Learn more about Intercom
SaaStr Podcast #183: Eoghan McCabe, Co-Founder & CEO @ Intercom on The Right Way To Structure Your Org Chart
#191 CEO and Co-Founder Intercom, Eoghan McCabe
Eoghan McCabe: moving to USA to build Intercom ($1B+) and benefits of naivety, hard work, rejection
