Making Bookkeeping Marketing Interesting: What I Learned from Pilot.com’s B2B Content Growth Strategy
I have never ever in my entire life heard a founder or a business owner say, “I can’t wait to buy accounting software. - Waseem Daher
Let’s talk about bookkeeping. No, don’t run away yet! I promise this will be more exciting than it sounds. Recently, I’ve been diving into the brains behind Pilot.com, the folks who’ve cracked the code on how to turn the often mundane world of bookkeeping, tax, and CFO services into a magnet for small businesses, especially startups.
Pilot.com is a financial services company that offers bookkeeping, tax, and CFO services tailored for startups and small businesses. Founded in 2017 by Waseem Daher, Jessica McKellar, and Jeff Arnold, the company emerged from their previous startup experiences, recognizing the chronic pain points in accounting for growing businesses. They hit the ground running with significant early traction, raising a $15 million Series A round led by Index Ventures in 2018. Over the years, Pilot has amassed over $160 million in funding, from firms like Sequoia Capital and Bezos Expeditions.
Day 0. MVP: Sell a service not software, the old school way.
On his guest episode on A16Z’s podcast, Waseem Daher, Pilot’s cofounder and CEO points out that no one sets out to buy accounting software. What they want is someone to take the time-consuming, brain-bursting bookkeeping and finance problem off them.
Note to self: As OlaCV builds out adoption for .cv domains for 3.5b professionals, we need to know that individuals do not set out to buy domains (except domain name investors), they want personal branding and desire to earn and be more.
Day 1. The Honeytrap Strategy
Pilot has mastered the art of attracting and converting their audience using what I like to call the “honeytrap strategy.” This isn’t about leading with their bookkeeping services – oh no. Instead, they’re offering irresistible bait: webinars on hot topics like fundraising and product-market fit, featuring big names you’ve probably seen on your Twitter feed. They also churn out juicy reports on things like founder salaries, which get everyone talking.
The trick here? They never start the conversation with bookkeeping. By focusing on what their audience cares about, they manage to reel them in before hitting them with the hard sell on their core services. This approach has led to sky-high conversion rates, turning curious founders into loyal clients.
It’s interesting how they’ve shifted from a founder-led low-cost high-contact strategy of selling to first adopters to the switch now that they’ve scaled. Founders get this wrong too especially those with little capital and those with too much capital. Those with too little look at Pilot and say you can’t win without a huge budget to bring all these resources together, and those with too much say we are going to be like Pilot and do all these things that doesn’t really let them improve their product with a core early buyer audience.
Pilot did things that don’t scale initially capturing a core group who knew they had accounting problems and got in the “low-hanging fruit” with precision. They are now in the growth phase
Img Credits: Tom Bartley link
Lessons Learned
So, what can we learn from Pilot.com’s savvy approach to content growth? Here are a few key takeaways:
Lead with Value: Start with content that solves a problem or answers a question your audience cares about. The more valuable the content, the more likely they’ll stick around to hear what you have to say.
Leverage Big Names: Featuring industry leaders or popular figures in your field can attract a bigger audience. People love learning from the best.
Diversify Your Content: Mix up your content types – webinars, reports, blog posts. This keeps things interesting and reaches people in different ways.
Understand Your Audience: Know who you’re talking to. Address their pain points and provide solutions they need, even if it’s not your main service upfront.
Don’t Lead with the Hard Sell: Start with engaging, valuable content. Once you’ve built trust and interest, then introduce your services.
Cheap and Easy Steps for Founders
For those of you looking to scale your customer acquisition like Pilot.com, here’s a simple playbook:
Create Valuable Content: Think about what your audience needs help with and provide it. Blogs, webinars, whitepapers – the more valuable, the better.
Partner with Influencers: Collaborate with well-known names in your industry to draw in a bigger crowd.
Offer Free Webinars: Host sessions on hot topics relevant to your audience. Make sure they’re free and packed with useful info.
Produce Engaging Reports: Regularly publish reports on industry trends, salaries, or any data that your audience will find interesting and shareable.
Build an Email List: Capture emails through your valuable content offerings and nurture these leads with more great content.
Pilot.com’s strategy shows that with the right approach, even the most unglamorous services can shine. By focusing on what your audience cares about and delivering value upfront, you can convert curious prospects into loyal customers. Now, go forth and conquer!