We help in converting website traffic into revenue: Matt Dyor, Payboard

Matt Dyor is the CEO of Payboard, where he helps customers generate more business value from their existing website traffic. Prior to Payboard, he was the Managing Director for the Microsoft Accelerator powered by Techstars, where he helped 20 fast-growth startups improve their business models, identify and optimize core metrics, and raise capital.

In an interview with Dataquest, Matt tells us about Payboard and the customer problem that his firm is solving

Can you tell us about Payboard and the customer problem you are solving?
Payboard helps businesses convert website traffic into revenue. We have a unique focus on understanding, experimenting with, and building the perfect customer journey.

So is this really a way to make websites more effective?
Correct. We make websites better at delivering business value. It is the first step towards an intelligent web, where websites learn and adapt to the needs, expectations, and capabilities of the visitors.

From your experience what are the main reasons why websites fail?
Great websites have three qualities in common: premium offering + traffic + conversion.  More specifically, great websites: 1) offer a premium product or service; 2) find or build an audience that cares about that product or service; and 3) monetize that audience. A business that fails to deliver on 2 of these requirements will fail.

Is Payboard thus an essential part of any digital marketing suite?
Yes it is. Payboard is essential for customer journey optimization, and customer journey optimization is essential for conversion optimization. As companies get more effective at traffic acquisition, the competition for and expense of traffic will increase. Great websites will need to focus more of their time and money in conversion optimization (and continue to invest in building premium products and services).

Why did you create the company after being in large companies and that too as a trained IP lawyer?
I love building products and services that make the world a better place. But, like a lot of builders, I had a "build it and they will come" mentality, never focusing on the traffic + conversion aspects of building a great company. While at the big company, we came up with some awesome prototypes. Because we failed to focus on traffic and conversion, each of these prototypes failed. There are a lot of great services for getting traffic. There are fewer services in conversion optimization, and no tools that help businesses understand, experiment with, and optimize their customer journeys. We saw this as a great opportunity to build a new startup to help other companies build the perfect customer journey.

Can you describe your ideal customer?
We love Small- to Medium- Sized businesses, between $1MM to $20MM in annual revenue, who have a premium product or service, who invest in telling that story (e.g., content marketing), and who are looking to improve the business performance of their website.

Can you leave us with some parting thoughts on Payboard’s next steps?
Payboard is taking off. We have companies like Microsoft, Moz, Pacific Science Center, and over 60 other companies using our software. We have worked really hard to make it simple to get started, gain insights about what is happening on your website from a conversion perspective, and conduct experiments to see if you can improve conversion performance. If you are busy or you do not have the conversion-optimization expertise in house, we have an affordable full-service offering where our experts set everything up and manage the service for you. We would love to have you try it out.