The influence board is a platform where sales executives can meet some of the most established business leaders by paying a fee that is given to a charity. This helps the sales personnel complete their first big step of getting the meet and on the other hand, helps business leaders fulfill their philanthropy goals.
Influence Board is a very unique concept. It allows the salespeople to meet with over 52,000 business leaders for an hour-long meeting, in return for a donation to the executive’s charity. The idea is very creative and efficient for all the parties involved.
The company has competition with the traditional cold calling/ messaging methods. The company model has numerous advantages over traditional cold calling, the major one being the time reduced to reach the concerned person for pitching.
The revenue model includes administrative fees (17% per transaction, average transaction size of $425), premium services ($8k-12k/month), and vendor subscription fees ($49-$500/month). The company has secured a strategic partnership with one of the largest sales training companies Sandler. It is in the process of being issued a Process Patent for "Securing Meetings by Donating to Charity".
The product has strong market adoption, with the number of executives growing from 1,500 in 2022 to over 57,000 to date. Salespeople have seen 20% - 40% meeting acceptance rates which is unheard of for "cold outreach". Vendors are seeing up to 100% positive meeting outcomes. The company reached $60k/month in revenue in May 2023. The company almost has breakeven in operations. It intends to become profitable in 2023.
