An Interview with Joe Oltmann, CEO PIN Business Network, February 3, 2017
Listen to the full interview.
Announcer: This is Business for Breakfast with Jimmy Sengenberger on KDMNT, Denver’s Money Talk 1690 AM. Business Spotlight, where we are highlighting different businesses in the community here in Colorado in the Denver metro area and in and around the state that really are doing some great things and you know, they’re becoming movers and shakers. They’re doing their things every day. They are really trying to boost their own opportunities to succeed every day and that sometimes takes, okay it takes a lot of time a lot of risk for a lot of reward. Sometimes it’s challenging, sometimes it’s very rewarding. Joe Oltmann is the chief executive officer and founding partner of PIN Business Network and he joins us now here on Business for Breakfast. Joe good morning how you doing?
Joe: Good, good.
Jimmy: It’s good to talk with you. Thanks for joining us.
Joe: Yeah, absolutely.
Jimmy: So, PIN Business Network let’s kind of just tee it up. What is this company? What do you do?
Joe: So, we’re data marketing company. We’re actually one of the fast data marketing companies in the country. We basically combine the intelligence of what marketing does with data. Data tells us what to do so we use scientific methodology or math to dictate where and when we put messages and intent in front of people that are likely to see those messages. It just makes anything from SMBs all the way up to enterprise level clients more effective and how they spend their ad dollars in the marketplace to reach the right people at the right time.
Jimmy: So, it’s data-driven, data specific and that’s interesting how you’re able to now, especially with online marketing coalesce so much data together and put together these compilations to really make for a more effective marketing strategy, right?
Joe: Yeah, so everyone talks about what data has the ability to do and it’s kind of the big buzz word now in the marketplace, is big data and so you have big data companies that are out in the marketplace that share their data amongst each other and it’s almost become this thing that people talk about that all this is really creepy. “I get out there in the marketplace and I start looking at something and all of the sudden, I see ads based on what I like.” We’re different in that, probably other people do that, we use multi-channel approaches so we are kind of like a DSP or managed platform that allows for us to combine channels in an environment where we can use off-line and online data at the same time and so we don’t concentrate on any one particular advertising type so, we are more like a full suite or a full stack solution that allows for us to combine anything from email, text, social media, on-line, a DSP play, and some of the stuff that I’m actually, saying people like “I don’t even know what that is.” It’s the ability to just serve up messages anything from traditional sources even up to all the way up to to any digital sources that are in the marketplace.
Jimmy: So, when we talk about digital that really is sort of the bread and butter of so many businesses today there’s a lot of ecommerce going on. There’s a lot of websites that are just trying to get their message out there or trying to sell their product or service and harnessing data is obviously just the key to making that happen. How effective is this online marketing approach that businesses are taking? Is it really as impactful as everybody saying in terms of being really the number one way to market or do you find that traditional avenues are just as effective?
Joe: Well I think you have to have a healthy mix of both. The problem is that marketing itself has a bad name, right? So, lot of businesses get in the marketplace and they are sold opportunities you know traditional has always been TV radio and print and that still represents a lion share, forty/fifty percent of the market as far as what they spend their advertising dollars on and I think that there’s a healthy mix you have to have on traditional versus this digital. But if you are a small business, and you know you are more likely just concentrate on digital strategies, but the problem with digital strategies is everyone is trying to sell you a field of dreams right, everyone is telling you that if you build it that they will come. They try all these different marketing message or someone comes up with this single channel of “Hey look, I’m gonna put you on this website or I’m going to have use this tool and it’s going to drive business to you,” and the reality of it is, that most SMBs, small to medium businesses specifically don’t have an opportunity to see any success because they are not in a broad enough market because the market is so on the digital side so diluted and it’s so big that typically they are not reaching enough people that are like the people that are likely to engage with them that they’ll see any effect. So, we really try to concentrate on what we call the three D’s, the three D Strategy, so discipline, data and deployment. We deploy data with discipline in the marketplace, almost mimicking the DNA of what a business currently does or is currently reaching to find other people that look like the people that are already engaging with them and as a result, we are actually not a business that just deals with a SMBs of small to medium businesses, we actually deal with a lot of enterprise clients or big business clients across the nation as well.
Jimmy: We’re talking to Joe Oltmann. He is the chief executive officer and a founding partner of PIN Business Network and you know, you have said that PIN is essentially a data company that happens to do marketing. What does that mean and why take that particular approach in this strategy of marketing today of data management?
Joe: Well I think the biggest thing for us is, by the way we didn’t start off becoming a data company, we started off being community-based environment We developed offer strategies, announcement to discounts in the marketplace. Based on a micro to macro model. So, we reached in to one community. We knew that 81 cents on every dollar was spent within three to five miles of a person’s home. So, we tried to concentrate on those strategies. And then we saw mixed results, so some clients would have really good results and some clients wouldn’t. but PIN means power in numbers and so the idea is that marketing as a whole has become, it’s very difficult. I mean businesses jump from solution to solution. From marketing opportunity to marketing opportunity and the results are typically mixed at best right, and so when we developed a strategy that we have, we wanted to make sure that we had the ability to and in a cost-effective way, give businesses all the way from small businesses to large businesses, the opportunity to reach enough people to see a return on investment. Our strategies that we developed as a business, are meant to kind of give businesses the best opportunity to be successful and by using data as a platform or backbone behind that, not on the traditional sense of “Hey we are going to just use data that you have or we are going to go out there and find data for you or put it in front of you,” now we’re using a more thoughtful or measured approach of okay, what do your customers actually look like, right? Who’s dealing with you…do they like cats, do they like dogs? Did they drive a Honda? What market they live in? So, we’re not, we’re actually combining the psychographic with the demographic information around them to become and give a better profile and that better profile allows us to give the customer and the business a better user experience. The same type of principles that Google uses, we use on a more focused approach in the marketplace, depending on whether that client is or whether our client serves a small area like Lakewood or Parker or Castle Rock or all the way up to the macro of an entire Denver region or even some of the other states we’re in today.
Jimmy: I don’t want you to give away your secrets and what these secret sauce is so to speak. But what kind of data that is collected in order to make these strategies get put into effect in a successful way? I mean so many people are wondering when they go online and they’re on Facebook they’re doing Google searches they’re doing all this data is collected by these companies. There’s no doubt about it. What does that look like?
Joe: Well the reality of it is your data is everywhere. So, everyone says there isn’t any privacy and things like that. To a certain degree you have control of that. You have ad blockers and things like that. So, there is a healthy dose no matter what you do from your device characteristic of using your phone or your Ipad or your laptop all the way down to your desktop. You’re always, when you’re on the Internet, you’re giving up information. From a website, you actually visit to the content that you actually read and so, that’s enough to creep you out at all by itself, right? How do you tie all those devices together and so a lot of these companies out there they tell you that they are collecting data from you and they are really not telling you how they’re using it, but they’re out there selling in the marketplace and Google’s is the biggest data company in the and the world, right? And you get information from them and they also give you information and so I think one of the differences behind what we do as a company and what a lot of these companies to is that we privatize the data for clients and we build persona or shadows so we never actually collect any anybody’s private information so social security numbers even down the names, because that’s not as important as the characteristics behind that particular individual so a lot of the companies out there that do data, I know that people are like “I don’t like my data out in the marketplace.” You know that what can be used obviously for good can be used for bad, but there are organizations out there and even federal organizations that control the flow of data. So, it’s not as a creepy as you might think it is and the reality of it is, as consumers we want the best product in the marketplace as well, so as long as the product meets the need or intent that you’re looking for, I think that having that much information about people is actually healthy.
Jimmy: It seems like Joe Oltmann of PIN business Network that it’s really about building a profile of the consumer that you are targeting and is a company and being able to effectively put that profile that you’ve developed into use using different marketing strategies.
Joe: Right, so I mean we’re again, we’re the only company entire country that does what we do and the ability so that we have to create those profiles allows us on I micro level to get to know a people’s habits in a very quick way. So, we use intelligence, we use reason. An intelligent brain, so to speak. In the middle of everything that we do and by building out those personas or those profiles, we are able to reach more people with the right message basically driving down cost and increasingly the effective their reach of the business. So, it’s a pretty neat process and again, we have billions and billions and billions of data points that we collect and those data points help us get a clearer picture for both the companies that we serve and the clients or the consumers in the marketplace.
Jimmy: Very interesting well what is the website for PIN Business Network and how can people get in touch with you guys? It’s PIN Business Network dot com and P I N Business Networks dot com and there is a form fill online and there’s a phone number there as well but it’s 720.949.7377 is our phone number. But you know we have got some pretty neat capabilities. We went from one state to six states and now we’re by far I think one of the most impressive companies in the marketplace. We’re definitely the most fast growing and here here’s another thing about us, all of our employees of which we have of a about seventy/seventy-five employees, are located here. Right, they are in the U.S. so we don’t use any outsourcing outside the country. Everything that we’ve been able to build, we’ve built using a very smart group of people, but they’re all located right here. Actually, the majority are right here in Colorado.
Jimmy: Wonderful, well Joe Oltmann, chief executive officer and a founding partner at PIN Business Network, PIN Business Network dot com. Thanks so much for taking some time to join us on our business spotlight this morning.
Joe: Yeah, appreciate the time Jimmy. It was great talking to you.
Jimmy: Great talking with you as well.