Passes grows creator relationships with break-even events

Transcript

Transcribed by machine (Whisper) from the episode’s audio, so a word may be off here and there.

1. 18:09

   thrown some big things you've had big activations i just saw that you guys did an event at the jake Paul fight with better how have you like how have you managed to strategize at least brand activations and getting creators together and creating this flywheel of like hype and coolness yeah so we try to not do big parties very often because then it loses it's like you know magic to it um and the hype but uh I've honestly given my marketing team like zero dollars so a lot of um Pretty much all our parties come out to break even or like net positive, which is nice.

2. 18:48

   And we can just do this based off of parties that like I've thrown by myself. I remember like our first party that like we actually tried to get sponsors for. It was because I had thrown a birthday party that I paid for by myself. And we had insane guests, like insane musical performances, etc. And just based off of that, sponsors are willing to come in and do our next party. So every single party gets better because we have more money to put into it, which is awesome.

3. 19:12

   and then yeah like we just invite our creator friends like usually you have special guest DJs and that is enough to bring people out I think that because we don't throw a bad party or we haven't thrown a bad party people are just willing to show up like they beg to show up we've had people offer to pay like 10 grand for to come and they're not on the guest list would you say that the lines for your parties are very long we try to not have lines um in terms like we want like efficient security right um a check-in process but they like sometimes we mess up there on logistics right and it becomes long like there was definitely in a party where a very very famous person i can't say was stuck outside for 40 minutes and then ended up leaving oh no Yeah.

4. 20:00

   Oh my gosh. So besides that, I do know that you throw some serious activations for the creators, and it's on a weekly basis, right? So how does that work? And how do you manage helping them create a larger brand and make sure that they're doing things and are being engaged? What are those smaller activations look like? And how do you keep up the cadence? yeah so for smaller activations um because it's a relationship-driven business we want to make sure that like every single week we're at least taking care of like a subset of our creators so for example um this week happens to be the f1 so we're inviting a bunch of creators to the f1 with us um and again it's really nice that they're creators because we're able to get them free hotels free flights and free tickets not on company dollar but it's also like they don't

5. 20:45

   have the relationships like a lot of these creators don't have the relationships to be able to do that on their own because they are like, you know, the creators with less than a million followers that might live in Alabama, for example. And they're just not plugged into the LA scene like we are. Right. Yeah. Right. And those kinds of events really elevate their brand and what they're associated with. So then, you know, you get more followers, you get more paid subscribers and that kind of thing. Exactly. And then other activations you try to do are always just like group dinner so then they can get to know us better um we try to do collaborative photo shoots because the number one way to gain new followers is to collaborate with someone um because you guys just you know your followers intermingle and then they become fans of both of you guys um i think

6. 21:30

   there's like a common misconception where like if um a fan like a fan spends on one creator and it moves to another creator they spend less on like the previous one but we've seen that they just end up spending like double. So when Passes was originally created, it was a Web3 company.