Lisa Ravenel

Payoff.com is a website aimed at helping individuals set and reach short term savings and debt payment goals.  The website combines elements of social networks, gaming and goal setting in a simple tool which allows users to compile all of their accounts into one location.  They aim to help users understand where they are spending money then educate and incentivize them into making intelligent saving and debt payment decisions. 

I signed up for Payoff.com just today, so haven’t gotten a chance to go through their entire retention and referral lifecycle.  But on initial glance at the website it is clear that they are running several tactics in both of these areas.

Retention:  Payoff.com is attempting to retain users by incentivizing them with prizes for using the service frequently.  Whenever a user completes a task such as defining a savings goal, they receive a badge.  For every badge earned, users are entered into a drawing to win a “sur-prise” which is a cash prize from one of the Payoff.com sponsors.  The more badges you earn the more chances you have to win every week.

Payoff.com also tries to retain customers by ensuring that they fully understand the value proposition and uses of Payoff.  The front page of the website uses simple language to walk you through the process of what payoff does.  In addition, the first e-mail that is sent states clearly at the top:  “Have feedback or questions? You can reach us directly at support@payoff.com or ask us a question on our Facebook page!” followed by the questions “what should you do next”.  This information helps users know where to go to ask questions and what they need to do in order to get started on the website.

Referral:  Payoff appears to rely on social networks for referrals.  After completing a task on payoff you are always given the option to share what you have completed on Facebook or twitter.  In addition, they have a “refer a friend” tab in which you invite new users via your social networks.  Upon referring friends you receive badges which will enter you in the weekly drawing.

This week we had our first brown bag lunch series at the HUB, and were fortunate enough to get an amazing first speaker, Ralph Simon.  Ralph was the co-founder of the Zomba  group of music companies, former vice president of Capitol Records, founder of Movioso, one of the first ever ringtone companies, and expert in mobile and social communication.

He came to the HUB to conduct a lunch time discussion about innovation – what it means and what role the HUB can play in helping to drive innovative thought.  Ralph is one of those natural speakers that easily inspire everyone in the room.  So by the end of his time we were all motivated and reminded of why we are doing the work we are doing.  He spoke about how we can’t predict the future – we can never see where technology, communications, and the way we relate to each other  is headed.   He then posed the question,  “why do we let people tell us that our ideas aren’t possible?”  The very root of innovation is going into space that others won’t, imagining the unimaginable and looking for a way to make it happen.

I think what I came away from the talk with was a renewed vision of my own role in social enterprise.  It may not be that I myself am ever going to engineer technology to help a city better their recycling system or take the risk to start a business with a new form of solar energy, but I am a connector.  I can help bring those people together, help provide them with tools.  Help people see and realize their dreams and vision.

And the end of his time at the HUB Ralph had our team buzzing about bringing a world wide innovation conference to Bogota.  Complete with Ralph asking “If I had Shakira call the mayor would that help make this happen”.   ” truly hope it does happen, because Bogota is filled with intelligent and innovative people and it is time for them to show this to the world.

I Just completed my first week as a Frontier Market Scout at The Hub in Bogota Colombia.  And what did I learn?

I learned that the HUB is a great place to work.  (and I learned that listening to Spanish while super tired from being at a high elevation is hard).  So, what The HUB does is basically offer a space and community for entrepenuers.  The Hub in Bogota is specifically focused on Social entrepenuers, meaning that they want to foster, support and provide space for entrepenuers that are wanting to create social change throughout Colombia.

Here is an example: Right now they are working with a project called Basura Cero (Zero Garbage) and I am sure that you can guess what the project is about.    Coming from Seattle the concept of recycling and keeping our public spaces clean of garbage seems to be such a embedded part of our daily activity that I don’t even think about it.  But, there is no way to not think about garbage when you are in Colombia.  This is one of the most beautiful countries I have ever seen.  They have jungles, beautiful beaches, snow topped mountains, lush green hillsides, and TRASH.  So much trash, everywhere.  Expecially here in the streets of Bogota.  People finish drinking a soda and then through the can on the ground where they are walking.  I asked a girl that I work with if the majority of people here care about this issue.  She said that most people really do care, they don’t want the trash, and seeing it makes them sad.   She says that it has improved so much in the last 10 years because people have been taught to care about and value Bogota again.  But, still so much trash remains.  I think this is for many resaons, force of habbit, people thinking their one addition of garbage won’t make a diffrence, lack of systems for cleaning the garbage, a large homeless population and more.   So that is trash talk – now what about recycling?  In some areas I have seen very progressive recycling with three seperate bins one for organics one for paper and one for other iems.  But in other places, such as the apartment we are living in there is no recycling – So the country seems torn, but willing to make changes.

Ok, that was a long winded explanation of the problem, right?  But the good news is now I am working somewhere that is trying to do something about problems.  That is where Cero Basura comes in.  How?  I am not entierly sure yet because they are a start up company and because so far everything has been explained in Spanish.  But, the point is here is a problem that I have seen, and I am working in a place where people are actively having meetings to talk about how to change this, how to fix this!  And just that alone,  makes me happy.  Yah!