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Interview with Rustin Banks (CEO & Co-Founder) and Holly Hamann (Co-Founder & CMO) of TapInfluence
Do you recall the first time you heard the word ‘blogging’? Holly Hamann does. She’s been working with social media and blogging practically from the get-go. Since TapInfluence was founded in 2009, the TapInfluence team has been molding the blogging industry into a reputable and profitable business, as well as bringing the same respectability back to the advertising industry.
About ten years ago, advertisers had fully integrated and exhausted all of their resources and were receiving minimal in return. If you recall watching college football games around this time, some companies even bought the digital ad space on the field that moved along with players. If that wasn’t ineffective (and annoying) enough, knowledgeable and skilled writers were spending large amounts of time composing reviews and articles on products and experiences without recognition (or a dime) for their efforts. It was this exhausted industry that held a gem for the founders of TapInfluence. Since then, their software has reinvented and monetized the blogging industry, championed digital-based enthusiasts, as well as become a catalyst for a new wave of advertising.
TapInfluence is built on a marketing strategy that merges real-life experiences and interests with digitally-based marketing to focus advertising efforts. Everyone knows that word of mouth and personal referrals are the cream of the crop when it comes to attracting and retaining new customers. This is what is so innovative about TapInfluence’s marketplace. Advertisers can reach niche industries and engage a captive audience directly through bloggers, or influencers, which permits advertising to actually become relevant to the consumer. Interested foodies read about products they actually care about,. Thus, ideally, the impact of the blog post actually materializes into a sale because the interest is not one-sided. And, if the product is as good as the blogger says it is, the quality of the product speaks for itself and the company retains a new customer. (In an ideal world this would also increase the quality of the overall marketplace. But I digress.)
But TapInfleunce isn't done expanding and improving their technology into new markets just yet. They’re piloting their B2B influencing capability and also making software developments to make it easier to manage their influencers.
Below are insights gained and advice for those Colorado entrepreneurs from top Influencers, Holly and Rustin:
1. Persistance, Creativity, and Innovation should lead in everything you do.
With all of the emerging applications and startups flooding the market, there has undoubtedly been some overlap (this goes for bloggers too). I can find over 100 iPhone sound machine apps to create white noise. “Creativity and persistence and innovation works no matter what youre doing. You have to be more persistent and creative than your competitors You better work at a startup and pick an industry that you truly care about because if you don’t, someone is going to eat your lunch.”
2. Be a champion for your audience.
Teach, inform, educate, and entertain your audience even before you have a product. Let content be your product and speak for your ingenuity.
Search and identify influencers distribution component
3. Follow Suit
The entrepreneurial community was and is a champion for each other. Boulder and Denver leaders take an active involvement in the college scene, even Senior leaders mentor students. Take time out of their day to make introductions, educate, and be willing to offer your help to others.
4. Hire Locally
According to Holly, Coloradans already have a "tolerance for risk- people don’t move out here if they aren’t willing to take some kind of risk". Plus, we have a technically-savvy educated talent pool that is full of leaders.
5. Learn from the Past
Holly has seen the startup community evolve for the last 18 years into the hub of energy it is today. She has seen individuals "work for startups, create their startups, become leaders in the community, exit and become angel investors." Invest in your community and work to maintain the network of trusted entrepreneurs in the community.
