Companies overwhelm their engineering teams with features and never invest any engineering resources outside their roadmaps. Any technical investment not related to the product seems wasted. Often ending up building plenty of features for products that are struggling to acquire customers while trying to fix the problem with investing more in ads. Want more clicks? Spend more.
Successful product companies like Google, HubSpot, Wordpress, and DuckDuckGo place their engineering teams at the center of their growth strategy. By building free complimentary tools that solve a specific problem for their core audience, HubSpot generates a significant portion of its 50,000 leads per month from a single tool called Marketing Grader. The case for spending engineering resources on marketing becomes much stronger when you think about the resulting tools as assets. And during the times of COVID-19, this is exactly what product companies need - marketing investments that will generate leads over an extended period of time rather than never-ending cost per click budgets.
At Payhawk, our biggest competitive advantage is our superior engineering team and talent that we acquire from the thriving Bulgarian tech ecosystem. So we are opening our internal hackathon called “Hack the marketing” to the public with a live behind-the-scenes stream. We will build tools to help raise the awareness of hidden bank fees, and wasted management time dealing with company spend and expenses.
[Update May 21]
We are happy to share our two winners in the internal hackathon:
The Cost of Expense Reports - Calculator and Card Hidden Fees Calculator.
Both tools will be available for free on our website and will compete with a marketing budget of 1,000 euros for 10 days to generate the most leads. The winning team will get some undisclosed awards!
Hristo is the compass guiding Payhawk's journey. With a rich background in engineering аnd product management he is a stalwart advocate for our products and customers, bringing a mix of innovation and user-centricity to everything we do. Outside the office, you'll catch him enjoying camper and sailing trips, shredding slopes on his snowboard, or simply soaking up precious moments with his family.