Marketing Darwinism: Steven, it’s been a while since we caught up but I know you are doing something very interesting and relevant now. Can you tell us about your new project?

Steven: Thanks. The last 15 years have been very interesting for me and have culminated in the new stealth startup I’m building. As you know, I cofounded Ascentium and we grew it from zero to 90M in a little less than 7 years. Our entire focus was technology in context and a relentless focus on customer needs. We build the entire company around the customer in our “surround” strategy. When we sold it, I moved into an area that always fascinated me- hospitality, where I partnered with some of the most incredible technical talent to build and nurture systems for hotels, casinos, and other hospitality ventures. My new startup is connected to that space.

Marketing Darwinism: Isn’t the timing for that, well, awkward given the 80% decline in hotel stays and the pandemic situation in general.

Steven: On the surface, yes. But when you dig deeper, you see that when the industry recovers- even if not 100% or even close- it will need flexible systems that can elastically throttle up and down. In addition, as assets get repurposed and value is derived from new modes of business, the currently rigid systems will have to flex. That’s the key to a post- Covid 19 scenario.

Marketing Darwinism: Fascinating. When you talk about repurposing, in some ways that is the key. Transformation, Pivoting, Repurposing….these are buzzwords. Is there something more to them?

Steven: It’s a great point. For many, the “pivots” they’ve announced are hardly interesting. I mean going from serving a sandwich in a closed environment to offering it for pick-up is necessary but not super-innovative. But imagine converting a hotel into a hospital or into temporary work space? Imagine a physical business that transforms itself into a digital, ether-based business. These are the sorts of things that deeply vertical solutions will have to accommodate going forward.

Marketing Darwinism: So, given that, what is your focus now?

Steven: We start with the customer. Customers have been telling me for a long time that they need modular solutions that allow them to scale up and down and don’t require a complex and impacted process or culture curve to adopt. My goal as a technology builder is to start with these needs, to deeply contextualize myself in the culture, and only then to architect the technology. So, as we launch, we will be sure to continue to give you, Paul, the exclusive insight into our plans!

Marketing Darwinism: Steven, how does Marketing fit into your new startup’s plans?

Steven: I’ve always been a big believer in Marketing. All effective companies must communicate clearly and often, and I believe Marketing is the key here. Products are great to build but they can “sit on the shelf” without an effective strategy to win influential people to avail of their benefits. While I am a technologist in the first instance, I am a Marketer in the second; I’ve never built a company without a superb Marketer in the first 3 hires.

Marketing Darwinism: Any thoughts about the future of hospitality and hotels?

Steven: I believe that the industry will find its footing. While we cannot say that this pandemic came out of nowhere, it certainly caught many industries flat-footed. But in the past 2 months I’ve seen story after story of positive transformation – as I alluded to before- and have seen that the entire ecosystem that supports the industry is ready to retool. As such, I think that our job as technologists is to enable and accelerate the processes by which this reinvention takes place. I don’t necessarily believe we’ll be back to the “glory days,” but I’m clear that the new scenario will not be as bleak as was thought in the first waves of this pandemic. Success will be had again!

Marketing Darwinism:  Pulak, tell us about Pepper.

Pulak:  Thanks Paul.  Pepper was conceived as an end-to-end platform for Asset Managers who seek simplicity in a deeply complex world.  Asset Management is indeed complex; think of the questions Asset Managers have to answer:  What investments should I make?  How should I optimally manage the investments I have made/my portfolio?  What are the regulatory and data frameworks that govern the different asset classes in the portfolio?  How should I get real-time intelligence on my investments?  How should I report to my investors?  How do I differentiate from other Asset Managers?  These questions lend themselves to a platform- approach to this space.  So we built Pepper.

Marketing Darwinism:  Tell us more about Pepper’s origins.

Pulak:  I’ve spent my whole career in and around this space.  What appears to be a perfectly working machine from the outside has the usual issues when viewed from the inside.  We are talking about the management of trillions of dollars across a plethora of asset classes and a complex and dynamic international system of rules, regulations, compliance, and risk tolerance.  When I realized there are ways to simplify this, to help Asset Managers focus on client-return and not the perspiration and minutiae they have to spend much of their time on, Pepper was born.

Marketing Darwinism:  So is Pepper just an idea like so many startups or are you in market?

Pulak:  Great question.  There are so many claims made in the “Fintech” space that are theoretical and not tried and tested.  So I appreciate the question.  We are very much in market.  We are a revenue generating company with a blue-chip client base.  But I will say that my background is deep product design so I over-indexed on building a resilient comprehensive platform.  So we are now launching a massive marketing push to expand our customer footprint.

Marketing Darwinism:  Marketing is “music to my ears.”  Tell us more about your plans.

Pulak:  We are in a sector that requires very strategic marketing and not scatter-shooting.  First of all, given the impact of this sector- with the trillions of dollars at play- we should not exaggerate or embellish.  We plan to use a very clear, authentic messaging strategy in the voice of a peer.  After all, the idea is to be clear that we built this on the backs of our own experience and from within the cauldron not from the outside.  We will certainly leverage the tools of modern marketing- LinkedIn and others to get our message out but ultimately we know the true potential of Pepper will be realized when organizations trial it and see its power.

Marketing Darwinism:  Pulak, you have mentioned “Fintech” a few times.  What do you think the future of the space is?

Pulak:  I think the future of Fintech is very healthy but as entrepreneurs we have to help make it healthy by building truly useful products and truly helping customers adopt them in their own contexts.  No technologies are silver-bullets without context and culture surrounding them.  We have to think about those aspects of our industry and then devise and hone products that are in keeping with those principles.  I’m very bullish but also very clear that we have to work hard for that bullishness to be warranted.

Marketing Darwinism spoke to an old friend and associate, Vivek Bhaskaran, Founder and CEO of QuestionPro.

Marketing Darwinism: Vivek, some big changes in QuestionPro I see. Can you tell us more?

Vivek: Paul, thanks. Yes, we’ve moved the company to Austin, Texas and are ready for our next large phase of investment and growth. We hit 200 people and I realized that we were no longer the scrappy startup full of hungry, footloose folks. We are now an established brand with world-class talent and as such wanted to find a city that would sustain us as we double revenue and increase the team substantially. Austin has proved to be a perfect location for QP.

Marketing Darwinism: Other than the move, what else is new and exciting at QP?

Vivek: Well, we’ve been asked by customers, partners, and users to help them use research, information gathering, and other elements to provide amazing experiences to their customers and ecosystem; as we thought about their feedback, we realized that while twenty years ago, we were a “survey” company, we are now truly a company that facilitates what we call “e(t)” or “experience transformation.” The markets are simply too crowded for any organization to NOT help its customers provide experiences to their customers. We are very happy with this concept, which we see not so much as a pivot but as a continuation of our QP proposition.

Marketing Darwinism: Vivek, QuestionPro has a set of “sister” companies that you’ve helped create. Tell us about them.

Vivek: Well, even though we try to be humble, I must say that when I look at the family of companies that I’ve helped build, lead, and grow, I think first of my incredible partners in crime- the team. QuestionPro has people all across the globe- who think about the mothership as well as Ideascale and TryMyUI, both lead by incredible friends and leaders. There are so many synergies in the QP family of companies and each has grown magnificently. We know it’s a combination of hard-work and luck so every day we thank our customers and amazing associates for their contributions to this.

Marketing Darwinism: What are some of the factors that aren’t captured in the numbers? Is there some sort of secret sauce?

Vivek: Well, I could say it’s our culture but so many organizations have great cultures. Frankly, I think it’s our business model which has always been predicated on ease of adoption, intense listening, and frictionless service. When your mantra is that you have to shave all friction out of the company in order to do what’s right- at the right price- for tens of thousands of customers then you’ll be successful irrespective of other factors. Well, you do need a great product too!

Marketing Darwinism: How does Marketing fit into your growth planning?

Vivek: Throughout our history, we’ve oscillated on this question but now, we take marketing and the marketing community incredibly seriously. In fact, my mentor is a marketer who lives in the Seattle area and he has always beat me up on this matter. We’ve realized that great marketers think about audiences and experiences and worry a bit less about the numbers and ROI. They come from audience and experience. So, yes, we are investing heavily in marketing and it has paid dividends.

Marketing Darwinism: Any parting thoughts?

Vivek: Well, I want to leave your readers with just a few thoughts. First, please check out QuestionPro and send me feedback if we don’t wow you. Second, for my fellow founders out there, build the company you want to build not the company that others put pressure on you to build. Finally, simplify always. Nothing else works.