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This week we caught up with John Gordon, founder and CEO of customer acquisition and retention software company, Premier Punt Group.
Can you tell us a bit about how you came up with the idea for Premier Punt Group?
Before Premier Punt, I was a Chemical Engineer posted in Trinidad. Whilst over there I was exposed to American TV adverts for the big daily fantasy sports (DFS) gambling operators. Fantasy football has a big following in the UK, but the popularity of DFS in the US is on a whole new level. I saw the opportunity in bringing this model over to the UK where traditional free-to-play season-long fantasy football was the norm. At the time there was nothing in the UK where users could play fantasy football and bet in a shorter format than the archaic season-long one.
Why did you decide to pivot away from the B2C offering?
Premier Punt entered the world as a B2C company. We offered fantasy football betting to customers through a website and a mobile app and cross-sold sportsbook and casino. We tailored sportsbook bets to each user based on their fantasy line-up.
It became clear that this game had wider potential and there was demand from other businesses in other industries. Operators in the gambling industry can expect to spend an estimated £100 to acquire a new customer, and can only expect to retain this customer for one to three months. These operators are trapped in a cycle of investing valuable time and money into a short-lived asset. As a B2B operation we assist our clients in attracting customers at a lower cost than the industry norm. We have a mobile-first user interface and a suite of social games which compel the client’s customer to return to their platform weekly.
What’s been the most exciting moment in the Premier Punt Group journey so far?
The most exciting moment was when outside people started getting involved in the business. We’ve managed to attract some big gambling and business names who have brought valuable expertise and enthusiasm to the company. Serial entrepreneurs and investors like Victor Pronk and Mike Rutterford (co-founder of Archangels business angel syndicate) have already invested in us, and recently we have recruited industry trailblazer Victor Chandler as an investor and advisor. Mr Chandler is often credited with being the first to take gambling “online” and gambling operations offshore.
How did you get industry veteran Victor Chandler on board?
Victor Pronk and I spotted an article about Victor Chandler being back after some time away from the gambling industry, so we decided to get in touch. I reached out to him and it went from there!
Since Mr Chandler has come on board the company has gone from strength to strength. He is a legend in the industry so obviously we are absolutely delighted to have someone of his stature on board. For us to have that vast bank of experience and knowledge to tap into is priceless and indicates some very exciting times ahead for Premier Punt Group.
Why are you raising capital through crowdfunding?
This isn’t our first crowdfunding round. We successfully overfunded our campaign on Seedrs last year so it was an obvious choice this time around.
We chose crowdfunding to start with because it makes customers feel a part of a company. Until recently we have been focused on our B2C operation so we were keen to have our customers involved in our journey.
This year we decided to build on the momentum and excitement we built last year by crowdfunding again. The process is smooth and we are familiar with this route to success. We have already hit our initial investment target, and we are confident of further crowdfunding triumph.
Can you tell us a bit about your background?
After gaining a degree in Chemical Engineering I worked with some of the largest energy companies in the world including BP and WoodGroup as a Chemical Engineer. I worked all over the world including a five-year stint in Trinidad and Tobago which is where I came up with the idea for Premier Punt. I decided I wanted to stop designing oil rigs and start designing apps. At this point, I quit my job and moved back home to start Premier Punt Group with my best friends from university.
What’s the best part about being an entrepreneur?
Being an entrepreneur allows you to build things from scratch, so they turn out exactly as you envisioned. So far starting Premier Punt Group has been a really positive experience because I have seen my ideas jump off the page and into reality.
What advice would you give people who are eager to set up their own business?
It can be scary setting up your own business, but having a bit of fear can be good for you as it drives you on and, ultimately, can be a key to success. It is always going to be risky going it alone, but I would say go for it if it’s a calculated risk. It was the best thing I’ve done in my working life.
Where would you like to see Premier Punt Group in a year’s time?
We are evolving and expanding our product line and in a year we would like to have a bigger suite of fully developed apps. One app in particular that we have conceptualised recently is shaping up to be very exciting. We have lots of ideas about its potential appeal and we are currently eyeing up some big names to take it on.
We are enthusiastic about gaining more clients in the future. PPG’s products have applicability across many sectors and for lots of companies, so we are excited about getting our apps in front of the right people!
We have already turned down two acquisition bids and I am sure there will be more offers in 2018/19!
If you’d like to ask John your own questions, you can do so via the discussion forum on the campaign page, where you can also find out more about how Premier Punt Group will be bringing their exciting new products to market.
Investing in startups involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and it should be done only as part of a diversified portfolio. This blog post has been approved as a financial promotion by Seedrs Limited.