The North Star Metric for Retention

In this week’s episode of The Breakout Growth Podcast Sean Ellis and Ethan Garr chat with Kevin Yip, Blueboard’s Co-Founder and Chief Operating Officer. Blueboard is a platform that allows companies to reward employees with amazing experiences; anything from a skydiving adventure to dinner at a Michelin-rated restaurant is fair game. How does a company with such a unique business concept not only achieve product/market fit but stay dynamic enough to retain it through challenging times? In this episode, we find out.

While entrepreneurs often dream of bringing new ideas to market that nobody else has thought of, it can be a huge challenge to get from zero to one with a completely new idea. Kevin and his co-founder had their work cut out for them in their early days. They literally went door-to-door to try to get companies and their HR teams excited about the value of Blueboard experiences.  An intro into GoPro proved to be a boon for the fledgling business, and eventually, Blueboard’s vision of an experience marketplace came to life. 

The team continued to dial-in product/market fit. They learned how to more effectively sell into HR, they developed feedback loops to ensure that as employees enjoyed Blueboard rewards they were able to effectively share their experiences with their colleagues and more. The company had found its footing and was on a roll and then Covid hit. But Kevin’s team understood their product/market fit and quickly figured out how they could continue to bring value to employers and their employees in the new stay-at-home environment.

Take a listen, and please subscribe to our new Breakout Growth Podcast YouTube channel: https://www.youtube.com/channel/UC-K_CY4-IrZ_auEIs0j97zA

We discussed:

* “Rewards really matter;” how Blueboard makes an impact (08:29)

* Customer vs. investor conversation; why it’s not just about giving employees more money (38:41)

* Door-to-door; finding product-market fit one company at a time  (26:01)

* The James Bond Experience (32:01)

* What happens when the world shuts down; product/market fit and COVID (33:55)

* Feedback loops; amplifying the Bluebaord experience (42:28)

And much, much, more . . .