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!