Entrepreneur Spotlight

 

Benoy Tamang, Founder & CEO, HookSell

 

HookSell Founder and CEO Benoy Tamang was born in Singapore to Nepalese parents and has spent his life learning, working and traveling all over the world.

His previous work and life experiences led him to a personal set of six criteria making for a successful business. Tamang believes his new venture, HookSell (http://www.hooksell.com), excels in all six categories.

Savvy Web marketers know 2 to 4 percent conversion rates (the percentage of eCommerce Web site visitors who become customers) are the norm. HookSell has built an easy to implement system for online marketers using direct marketing techniques allowing most of its clients to at least double Web site conversion rates.

HookSell's products, including its popular HookTour offering, are even producing upwards of 30 percent conversion rates for some of its clients.

The entire HookSell philosophy is built around getting a Web site's visitors immediately interested in a client's product or service. HookSell offers its services under a pay-for-performance model, thus sharing the risk with its clients.

 

Launch recently sat down with Tamang to talk about HookSell.

 

Launch: Tell us about your background.

Benoy Tamang: I was born in Singapore, but both of my parents are from Nepal. My father was in the British Army, so we moved around to various countries wherever my father's battalion was assigned. My parents were in Singapore when I was born.

I went to Secondary School (Jr. High and High school were combined in the English system) in Hong Kong. I then studied Computer Information Systems at BYU-Hawaii where I received my bachelor's degree. I later earned an MBA with a marketing focus at BYU-Provo and then moved to California to work.

 

Launch: Why did you come back to Utah?

BT: Outside of the MBA program, my wife and I didn't think we would ever be making a permanent home in Utah. When my wife was pregnant with our third child, the riots in Los Angeles during the early 1990s got out of control and made us reconsider. After five years of being away, in 1993 we came back to Utah because we felt it to be a safer environment for families.

 

Launch: What other companies have you been involved with in the last 10 years?

BT: Viewpoint Datalabs (3D computer models) - sold to Computer Associates; Caldera Systems (Linux operating systems) - IPO and purchased SCO; BlueRiver Direct (direct mail business for health newsletter and products) - sold to competitor; DMPG (video marketing for movie studios and magazines).

 

Launch: What problem does HookSell solve?

BT: Too many businesses have invested in Web traffic and design to only get between 2 to 4 percent conversion rates of traffic into qualified prospects/sales. You can only buy so many relevant pay-per-click words or invest in organic link building or e-mail campaigns. There comes a time when everyone wants to convert that investment into higher conversions. With no change in traffic volume, HookSell solves the problem by doubling conversions under a pay-for-performance model.

 

Launch: Why did you see the need to start HookSell now at this point in time?

BT: DMPG was losing money, and I was looking for another business vehicle.

Since I had already worked in direct response mail, copy and video, a good friend, Chris Cottle, recommended I could apply the same discipline, along with proprietary technology, on the Web. It has turned out to be the perfect medium, the right problems that needed solving and great timing.

 

Launch: What about the HookSell business model gave you so much confidence in its potential success?

BT: I look for the following six attributes in my ideal business model:

 

1) Product-based business (versus service-based).

2) High margins (I've worked in the low-margin world, you can't breathe).

3) Large market (I've worked in a niche market, not much headroom).

4) Repeatable widget to sell.

5) Internet-based (can't beat the online cost of goods model).

6) Significant value or service that is offered where I can feel good and have fun.

 

HookSell's business model scored 10's in all of my requirements.

 

Launch: How hard is it for you to convince sales prospects to try your products?

BT: It is not difficult. Our sales team only has to mention that our business is focused on doubling sales based on existing Web traffic under a pay-for-performance model, and we generally get appointments. Plus, our clients do not have to do anything but provide us 30 minutes, digital assets and then to create an appropriate link to the finished HookTour.

 

Launch: Some HookSell clients have seen a 30 percent conversion rate. How does HookSell accomplish this?

BT: We have a patent-pending solution that combines the best of direct response discipline, rich media, proprietary analytics and continuous improvement.

 

Launch: What types of companies/industries would benefit most from using HookSell?

BT: Technology companies, financial, education, automobile dealerships, high-end vacations, mail order, seminar/coaching and any business that has a product or service that requires education prior to closing a sale.

We help companies, regardless of size, if they have invested in their Web traffic or online marketing. That's our only pre-requisite. So far, we have been lucky to have great customers who have ordered multiple products from us.

 

Launch - Winter 2007

 

 

For the full "digital magazine" version of Winter 2007, visit: www.nxtbook.com/nxtbooks/growutah/launch_2007winter