Sales
Strategy
Tactics
& Actions
Your Reality-Check
on
Creative
Business
Development
Sales
Strategy
Tactics
& Actions
Your Reality-Check
on
Creative
Business
Development
www.CreativeBusinessDevelopment.com
is an interactively supportive community of
CREATIVE BUSINESS DEVELOPERS
Agencies, Consultants, Advisors, Sales People
~ ~ ~
Helping each other navigate their role in this new era of AI, Blockchain, and the more open, cooperative mindsets/methods of Web3
Click to see our previous site:
DavidCutler.net 617-331-7852 david@davidcutler.net
This
Deck
is at:
Your Simplest Flywheel
I apply lessons learned
with some Great Brands
and their “Innovation Labs” ...
To the individual needs of:
BizDev Track
➤ For: B2B “Disruptors” … All of us.
➤ Who Need A: 1:1 Coach for their P2P sellers and teams
➤ Who Want To: Pump up salespeople to find and solve
the RIGHT client problems and close the RIGHT deals
Communication Strategy
& Sales Tactics
On-Demand
DavidCutler.net 617-331-7852 david@davidcutler.net
STEP ONE - Assess
Fee = $1,000
ROI
Get Started!
Support Sales
Understand Options
Understand Your Possibilities
STEP TWO - Playbook
Fee = $2,500
ROI
Product / Market Fit
Validate Promise
Build Prospects List
Deploy, Assess, Refine
Direct deals from “Beta Testers”
STEP THREE - Scale
Fee = $7,500
ROI
Customize Collateral
Amplify Network
Expand With Next Salesperson
Partner Channels
Over 26 $500k deals in pipeline
Case Study - B2B SaaS
Your Sweet Spot is how you provide the best value where others can’t
More,
On
How
We
Got
There…
Product Terms
Not: Blockchain,
NFT, AI, CRM,
Go-To-Market
Go-To-Ecosystem
Direct
Indirect
Our Capabilities
- Platform Functions
- Services Management
UVP - SSS - P/M Fit
Wheel of Focus
1) Decide - Inner
2) Define - Outer
Digital Passports
Loyalty Engines
Liquidity characteristics
Assets with Programmed superpowers
Cooperative Business Models
Performance Partnerships
Research for priorities & Who Really Cares?
Current models that can leverage our UVP
Where we can be a competitive advantage
Multi-Functional Assets
Passport Journeys
Unlock Benefits
More accurate reengagement
ID Authorized Ownership/Access
Community Co-Earning
Speed to Revenue
Packages
Test Deal
License Fee
Revenue-Share Brackets
ROI Assessment
Content Strategy & POE Actions
Multimedia Hooks & Be Found
Outbound - ABM Sales
Inbound - Content Machine
Our CRM to assess and optimise
Target Personas
Direct = CMO, CEO, CTO
Indirect = CTO, Product, CMO
Problems We Solve
Relationships
Revenue
Acquisition / Retention
Integration
Augmentation
Onboarding Their:
Customer Marketing
Performance Partners
Implementation Process & Promise
Business Models
Test Scenarios
Production
Other Services
1st - Choose a Sector For:
2nd Pass - for
the Message
Community Growth
Incentives to Share
Co-Earned Experiences
Acquisition
Exclusive Access
& Rewards
Retention
Personalized Journeys
Power of Platforms and Passports!
Customer
Momentum
Engine
Share Our Experiences
Be Found
Be Real
Close QUALIFIED Deals
Commit To Marketing
Communicate to the right prospects
with the right message
at the right time
Encourage Our Persistance
Take Actions
Discuss Reactions & Iterate
Discover Opportunities & Optimize
Business
Development
2023
Overall Summary of Our Sales & Marketing - 3 Elements and 3 Categories
Focus by answering these questions specifically for each of our target market sectors: Lodging, Food, Destination...
(Cool Uncle)
Sales
Strategy
Tactics
& Actions
DavidCutler.net - Inform & Connect
Marketing
Business Development
Technology
Consulting
Your First Sales Prep Questions:
Why You? Why Now?
What Problems Do You Solve? Do you cause other problems?
Who Are You Talking To? Who Cares?
What Should They Do? Your Promise = Your Process
Their REAL Options? (The other ROI is Risk Of Inactivity)
Could be my podcast promise
Sales3
Web3
Could be my market
promise
Top 5 AI Use Cases Among Marketers:
customer journey
channel experiences
What’s on the Mind of Marketers…
Priorities:
Challenges:
“High Performer” Marketers
are more likely to create
more relevant experiences
with customer data.
Flip Your Funnel
Accommodate decision-makers at each step
of your buyer’s journey
Inform
Connect
Get even MORE real.
Do you want to …
make better content,
grow your following,
find a dream job,
& be happier
?
One word: IKIGAI…
More: www.TruthRefinery.com
Read
Write
Own
Encourage Their Passions
Empower Their Participation
Enable Their Value-Sharing
Very Web3
Experiential Marketing
Evolves With NFTs
Into Web3 Loyalty
This Presentation by David Cutler is at:
https://bit.ly/Slides_Experiential_Loyalty
The inspiration for this presentation began a few weeks before at
the Rhode Island Startup Week Session on Web3
Feel free to read this coverage at
The Innovation
Intersection Between
Startups & Corporations
Nov 3, 2022
Shared
Dashboard
for
Common
Goals &
Collaboration
Here is more prep for when we discuss your Web3 options…
https://bit.ly/NFTs_For_Your_Customers
http://bit.ly/Customer_Success_NFTs_Now
The NFT enabled Content and Customer Management Marketplace Platform - www.NuArcaLabs.com
Thank You!
More.
There’s Always More
During constant change,
With our mutual commitment to being fair, open and curious, we are the right people to
figure it out together.
No surprises… unless they are new opportunities (see DAO)
See more of my hands-on discovery and sharing of what works … and doesn’t
The key to building products is customer success. Provide any level of value so you better understand them. Learn by observing, asking, and collecting data. Then iterate functions towards your best customers.
Focus on the critical functions of a Minimum Viable Product with Product / Market Fit.
Innovating Towards Value at Each Step
Sales3
Web3
You
Us
Your Best Sales Process Starts Simple...
Direct Actions Get Results & Inspire Reactions, Conversations, Ideas!
https://bit.ly/Customer_Success_Advocates
Sales Skills =
7 Sales Prospect Criteria (Question: How can we tell if they are a sure thing? … Mindset & Models
The goal of sales is to validate NFT use-cases and models for the prospect’s opportunity for: 1) Revenue 2) Demo of our capabilities 3) Exposure
GOAL: They are curious to explore solutions AND will commit resources… We want ACTIVE USERS FOR REVENUE & TO TELL OUR STORIES
Next Steps:
Alan re-focusing Sales & Marketing on the (now attainable) big picture.
Matchmaking “Agency”
Artists < > Brands
Web3 Mindset = Transparent = ID, Content, Revenue-Partnerships
Acknowledging how business goals intersect with real feelings
Where Learners Learn
You
Paid
Owned
Earned
Community
OPTION$
Shared
Creator Economy < > Platform Economy
Experience < > Value
Your own branded online Portal and Marketplace
Easily manage activities and revenue opportunities around NFTs - buying, selling, sharing, Quests, unlocking VIP access to "meet and greets," discounts, physical merchandise, earning loyalty points ... Anything.
"Experience Management" integrating with your existing marketing campaigns.
Now your best assets are NFTs and have the superpowers of digitally programmed functions
AUTOMATE interactions… permissions, eCommerce, Membership services, upgrades, adding loyalty points, fulfillment, distribution, and promotions...
No procedures. No barriers. No waiting.
And… Integrating all of the above:
for fractional ownership and earning access to
VIP experiences and community participation activities
(Those last two are unique functions of the engagement capabilities with the NuArca Labs Blockchain NFT management platform)
Accommodate your ecosystem in a single
Marketplace with dynamic combinations of:
Sales
Marketing
Business Development
Persuasion
1. Reciprocity: We are obliged to give if we have been given something
2. Scarcity: If it's scarce, we want it more. Use this by highlighting the Benefits, Uniqueness and Possible Loss
3. Authority: We are more likely to comply with a request if it is coming from a perceived authority/expert
4. Consistency: We want to be consistent with our past commitments, even if the initial commitment is much smaller
5. Liking: We like people who are similar, who give us compliments and who cooperate with us
6. Consensus: If others (especially similar others) are doing it, then we are more likely to do it ourselves
Six Principles of Persuasion
5 benefits from Hiring a Partner
with an external perspective
(and not years of experience in your specific business)
Structure of our working together
Internal - Keep us on the same page ... Next steps ... No surprises
External - Collateral to impress and test - Expose the steps ... Build trust ... No surprises
Consistent narratives that demonstrate your specific value, benefits, and being easy to work with
Demonstrate you understand THEIR situation, needs, process, etc.
Example: Toolkit Page with all links for the buyer’s journey
Details at bit.ly/Structure_of_Engagement_Cutler
Refine Labs - Website Content vs. Dark Social Content
DO NOT combine all your sources as the same intent
Seperate plan, content, expectations
Leads Sources vs
Qualified opportunity win rates:
50 Employee Referral
41 Website demo request
21 Show badge scan
19 Field Market event
13 Gift card incentive
8 Affiliate Referral
Is There a Disconnect between your Sales and your Buyers?
Ask Them!
Match your selling process and metric goals to
prospect’s overall process, research needs,
and official/unofficial buying journey
12 Ps of Product and Profit
Track KPIs that actually match buyer journey
- ROI by channel
- Deeper account-based marketing metrics
- ROI by content influence
- Lifetime Value of a customer (LTV)
- Customer acquisition cost (CAC)
- Closed-won deal analysis
Obsess on Customer Success
Demonstrate Insights with Testimonials
Data Gems
Disclose to differentiate
Creative Business Development:
The product is your marketing
Product development = marcom budget
Remember:
Acknowledge their process and options beyond you (they are!)
Solve problems and fill gaps
internal, customer expectations, competitors, etc.
Deliver market insights and adjacent tech disruptions
4 Steps of Sales Success
from
Thinking Beyond Sales
Business Models from all combinations of:
And… Integrating all of the above ...
22. NFT Buying/Reselling/Renting/Showing
23. The Co-Ownership Economy... a definition:
(That last one is reference to the “velocity of Trust” capabilities of t
Example of Models: Conferences
10 Prep Questions to help define priorities on our path to profit
DETAILS: 10 Prep Questions to help define priorities on our path to sales success
7. Who is selling for you now?
8 . Creative Business Development hooks with Marketing?
9. Got Gaps? How can I add value to your sales people?
10. If you had a magic wand…?
What do you want prospects
to do next?... and then?
Webinar Insights … Have them Friday Mornings
Why?
Why David?
… Speed of change
Catching up, keeping up, staying ahead …
… FYI, blockchain delivers Velocity of Trust
Buyers Rely on Specific Media at Specific Phases
Buyers Rely on Specific Media at Specific Phases...? NO, it’s complicated
Support Buyer’s Own Research
& Their Path
of Understanding
Gartner B2B Buying Cycle … It’s Complicated…
Start
Buy
Start
Gartner B2B Buying Cycle
Buy
Organization Maturity Assessment” (CHROMA) https://link.springer.com/article/10.1007/s13132-022-00917-y
Thanks
https://bit.ly/Customer_Success_Advocates
Tips,
Tools, & Techniques
Two Slides on
Referral
Thinking
What Used to Convert…. Now Real relationships and Referrals are more important than ever
Referral Thinking = Actions/Reactions
Align with their network
Make their business your business
1) Take Action - you are a referral-based business … Earn it
2) Ask - Be specific - The right stories at the right time
3) Feed the Beasts - Help them do THEIR job by promoting any results
David Cutler (partner with altexsoft) - www.DavidCutler.net david@davidcutler.net 617-331-7852
Who are your suppliers, partners,
strategic alliances?
What are your and their motivations for
the partnership?
What resources do you receive from
suppliers?
What activities do you perform to build your product? What every-day activities do you do to solve problems?
What value are you bringing to your customers? What’s unique about your product? What are the different values you bring to different customer segments?
To what extent do you deliver customer care (personal assistance or self-service)? What channels for customer communication do you have?
Who is your customer? What are their problems? What’s their age, location, job? What competitor product are they using?
What physical, human, and financial resources does your business need? What assets do you need to produce and deliver your product? What resources to perform key activities and use channels?
How do you let your future customers know about your product? How do you make your product reach your customers? Which supply channels are you using? What communication channels are you using?
How is your business monetized?
What revenue models are you using?
What is the pricing strategy?
What payment channels are you using?
What costs do you have to cover to create and deliver your product? How much of your cost structure is allocated for development, marketing, and the staff?
Business Model Canvas
Designed for:
Designed by:
Date:
Version:
Key Partners
Cost Structure
Key Activities
Key Resources
Value Propositions
Customer Relationships
Channels
Customer Segments
Revenue Streams
Your Milestones of Value and Momentum
1. Mission
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4. Momentum
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2. Market Needs
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5. Mutual Participation
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3. Partners
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6. Ensure Success!
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David Cutler Network - www.DavidCutler.net david@davidcutler.net 617-331-7852
How can we use the Rudolph Framework as a foundation for our copywriting?
(your product's superpower)
(what detractors claim)
(why now?)
(whom does your customer serve?)
(how your customer becomes the hero)
(the larger market you serve)
Or Elon’s
5 Steps to a Perfect Presentation:
See Infographic Examples at:
FYI - this slide: http://bit.ly/Cutler_YourStorySlides
Insights into your Social Marketing Machine…
1) A quick and partially reliable way to see if someone shares original thoughts
instead of only reposting others (so they may be more likely to consider and
champion your new ideas)... is to check their Linkedin Activity tabs, such as “Posts”
2) For your fans, make your content shareable on a “Current Actions” page ...a web page updated for everyone in your community to easily share your latest content - text, links, hashtags, and images. For Twitter, shoot for 120 characters to allow room for customization. Also share the day. Here is an example with an image (always use one):
Save the date for #IoT reality-check at #MIT for #ConnectedThings2021 - Mon April 9, 2022
3) Always use your blinker.
Mix
https://bit.ly/Customer_Success_Advocates
Is it hard to get into decision-makers?
Of course it is… so it is smart to remember that they are busy getting stuff done.
Learn more about what they are doing and where you fit in.
Come up with insights and even recommendations that demonstrate you care and how your company intersects with partners.
They should FEEL a culture match. That you would fit in.
Be easy to work with. Not pushy and desperate. ONLY be helpful. (like you are way down the hall)
Don’t give them homework
Your insights can earn their interest … and desire to hear your deeper questions
On Getting Inside
https://bit.ly/Customer_Success_Advocates
Strategy
https://bit.ly/Customer_Success_Advocates
Strategy
https://bit.ly/Customer_Success_Advocates
Strategy
https://bit.ly/Customer_Success_Advocates
Strategy
https://bit.ly/Customer_Success_Advocates
So, you want to grow your business with Search and Social advertising...
End Point Acquisition Goals
What happens from Top of Funnel to Product
Always Be Curious
Ideas ...
Inspiration, Challenges
Join us as we engage the integrated culture of activity, play, and work.
At your destination, we unite this exceptional community
of aspiring entrepreneurs, tech hackers, and business mentors
to share, learn & collaborate with proven methods of match-making for results.
At All The Smartest Destinations
Confidential and Proprietary Information
At all the smartest Destinations
Confidential and Proprietary Information
Remember,
“Creative”
Business Development
Read a post on creativity applied to new methods and new models
around Blockchain’s NFTs:
Read the next 2 slides because…
The stuff that works is not measurable at first
The stuff that doesn't work is easily measurable
Do More
Of The
Right Stuff.
Per Chris Walker - Refine Labs Here are the 6 most common places B2B Marketing budgets are wasted:
1. Google Ads - by far the most money gets wasted here. It’s a mess.
2. Trade show booths or conference sponsorships
3. Gated content syndication (to pay $50 for an email address that you could get on ZoomInfo for 75 cents)
4. LinkedIn lead gen (to hit vanity “lead” or “pipeline” metrics that never become customers)
5. Excessive headcount to support low ROI programs (those programs should just get turned off)
6. Excessive investment in Marketing technology (when the real solution is doing basic marketing fundamentals)
__
Tons of marketing teams come to me and say “We need more budget”.
But here’s the truth:
You don’t need more budget. You need to make your existing budget drive significantly better ROI.
And the way you make your existing budget drive significantly better ROI is by scrutinizing all of your marketing budget & programs and making choices about what not to do.
Most B2B companies refuse to make these choices, so they end up doing a bunch of marketing programs in a mediocre way and get below average results. They spread out budget & resources & focus.
Scrutinize all those line items in a high growth SaaS company, and viola, you have millions of dollars of budget that can be redeployed to things that work WAY better:
1. Build the leading podcast for your industry or target buyer
2. Execute weekly content-driven events to create demand & fuel a social content engine
3. Hire a CFO to work on your Marketing team to be the host of your podcast & leader of your community for Finance professionals because your actual CFO is “too busy” (aka isn’t prioritizing it)
4. Execute proper Facebook, Instagram, and LinkedIn ads that actually drive demand for your category, brand, and product (instead of collecting “leads” that never close)
5. Build a community for your target audience that delivers enormous value in terms of professional development, peer support, content and professional advancement.
^^these are all things B2B companies don’t do right now because “we don’t have any budget”.
Instead they spend all their program budget on outdated tactics that pump up vanity metrics & drive awful ROI.
And for some reason they never actually measure the ROI of those activities.
#marketing #b2b #demandgen
p.s. If the Marketing was actually working, it should be super easy to get additional budget in a high growth company. Put together a business case & show how additional budget will fuel at least 3-5x qualified pipeline or 1x revenue for every dollar spent.
Per Chris Walker - Refine Labs Here's how to Build a B2B Brand:
1. Open Up an Ongoing Stream on Customer Insights that your competitors never see
Build a recurring community event where you offer free consulting to your target customers. All of the questions & data you get from this are pure consumer insights.
Identify the social networks, groups, and communities where your customers spend their time.
Don’t make assumptions!
Figure out how to be a part of those communities. Act like a peer, not a vendor.
If you approach this with the right mindset, you now have an ongoing stream of market insights every single day that your competitors never see (because they aren’t looking).
2. Build a Native Content Strategy Optimized for Dark Social
You need a completely different content strategy for dark social than you do for SEO. That’s why most companies fail at social. Because they try to copy & paste their Google search strategy into LinkedIn (and it, obviously, fails).
The difference is on Google someone searches for something and then you give it to them (they have intent to find that information).
That’s not how it works on social - there is no intent. Which forces you to create content that people actually want.
Your content needs to be so much more relevant. So much more expertise-driven. So much more customer-centric. Build your team & allocate resources accordingly.
3. Identify the Dark Social channels for initial distribution.
We initially distribute content on LinkedIn, Podcast & YouTube. We get a lot of consumption directly on those platforms.
Then there is secondary & tertiary distribution where people share the content & ideas in Slack channels, DMs, text messages, direct word of mouth, Facebook groups, LinkedIn shares, the list goes on and on.
There’s no tracking so companies don’t even realize it’s happening.
4. Strategize, Produce, Distribute, Analyze, Repeat
Build an agile loop to consistently produce & distribute content. Listen to audience feedback. Engage in the comments. Look for qualitative insights about where they’re sharing it.
The data here is mainly qualitative and not reflected in attribution software so most marketers don’t know what to do.
__
And that’s how you build a B2B brand in 2021. It’s really that simple.
If you’re a B2B company, your objective should be that everyone in the market LOVES us.
Not just the people that use your product.
And they love you because:
1. We go into things with the right mindset
2. We have a progressive, modern strategy for marketing & interacting with our customers & the market
3. We produce the best information on the internet for our buyers & we distribute it *natively* in the channels where they actually pay attention
4. We don’t spam people with sales-focused messaging all the time trying to shove them into meetings when they hate it
#marketing #b2b
p.s. In 2011, brand was built with trade show booths & banner ads & SEO. But that was a decade ago and a lot has changed since then
Per Chris Walker - Refine Labs - Here are 6 pillars to build your word of mouth strategy:
1. Product / Customer Success
Having strong-fit customers that love your product & want to tell other people about it is step 1. This one is obvious & most companies recognize it’s importance.
2. Content
I don’t think most people really understand how much content can be shared over the internet as a form of word-of-mouth.
To execute this effectively, you need (1) A content strategy your buyers love, (2) A distribution strategy that effectively reaches those people, ideally in channels with high organic reach, (3) Consistent execution for a sustained period of time. Most companies miss on 1, if not all 3, of these.
3. Events
Create an EXPERIENCE that people love & want to talk about. Most companies approach events to get “leads”. And if they changed their mindset around its purpose - to create an experience people love - they'd probably create a fundamentally different event.
It’s not about just doing events, it’s about HOW you do them.
4. Community
Whether you own the community or your participating in other communities, both can work, but OWNED is certainly more advantageous long-term. This is about being active in your buyers World, engaging like a human, building relationships & helping people in real-time.
Companies struggle with this because their metrics, attribution, and incentive structures are often in direct conflict with the behaviors required to build a community people love.
There's a MASSIVE opportunity for the few that bring the right mindset & execute properly on this one.
5. VIP Customer Evangelist Program
Identify your top customers who love your product & are evangelizing it in the market. Then building an awesome VIP program for them to continue to fuel that.
Some ideas: All expenses paid trip where they get to learn & network with their peers. Access to beta features. Limited edition swag. Participation in content/events. There are a million things you could do for this. Reverse-engineer what those people want & then deliver it to them.
6. Key Opinion Leaders (KOLs) // Influencer Marketing
Influencer marketing is not new. Tobacco companies sponsored movie stars in the 1930s. Nike sponsored Michael Jordan in 1985. I partnered with top Emergency physicians in 2017 to have them speak at conferences about how they use our product to get better results for their patients.
There are a ton of ways to do this in an authentic way to drive awareness of your brand/product/category & word-of-mouth.
p.s. You may look at these tactics & say “we’re doing all of these”. A lot of companies do events, but not many do them like us. A lot of companies do content marketing, but not many do them like us. It’s not about what tactics, it’s about HOW you do them.
The Twelve Traits of a Good Marketer (in no particular order) - https://www.linkedin.com/in/cassidyshield/
My current favorite Infographic.
More inspiration at http://bit.ly/YourStoryMap
The key to building products is customer success. Provide any level of value so you better understand them. Learn by observing, asking, and collecting data. Then iterate functions towards your best customers.
Focus on the critical functions of a Minimum Viable Product with Product / Market Fit.
Innovating Towards Value at Each Step
What is your QUALIFYING criteria for individual sales prospects?
Who should you be talking to?
Who are THEY talking to?
Get BANT!
That’s fun to say… but the truth is the reverse:
don’t think too much… click it
$implify
The Step Back - ABI aspires to engage and leverage partners and employees but existing methods were inefficient and uninspiring
Bold Leap Forward - Idea scouting in a single custom dashboard of normalized feeds with dynamic ranking tied to ongoing corporate initiatives
Results Driven by Participation - Live accurately scored idea-flow (versus hours or days of research). Increased investment velocity by 30%
Case Study Details
inside one of my client’s needs
This is the evolution of the web
from a creator's perspective:
Read overviews and call me to
discuss your options:
This is the evolution of the web
from a creator's perspective:
Read overviews and call me to
discuss your options:
This is the evolution of the web
from a creator's perspective:
Read overviews and call me to
discuss your options:
• Personal Profile Pages
• Content delivered
to the network
• Easy onboarding and
tagging system
• Compensation every time their content is accessed
• Supporters distribute
their unique POV
• Integrate promotion
• Paid every time their endorsements are accessed
• Easy: access and search, payment, use, and sharing
• Flexible smart-contracts
Enable re-distribution and revenue-sharing
• Promote & Connect
• Manage transactions
• Update Content
• Receives commision
Revenue Sharing Content Management & Exchange
$
$
$
Speaker / Instructor
Media / Sponsors
Attendees
$
$
Partners
$
Individual
Partners and Promoters
Win or Lose… With Data
In a world where everything and everyone is represented by data, those who are best at turning data into action will win, and those who do not have access to it or cannot make it actionable will lose.
Since the volume of data already exceeds the human capacity to comprehend it, and the velocity of data is increasing and will always increase, your ability to make evidence-based decisions will be directly proportional to your level of literacy in the fields of:
distributed ledger technologies, AI, machine learning, big data, data science, computer science, automation, robotics, data privacy, cybersecurity, and the role of governments and regulatory agencies.
— CONFIDENTIAL —
Blockchain Landscape
These NFT related sections are the
shaded area from the below ecosystem
70 minute presentation with Q&A
-- Confidential --
ACCELERATING CORPORATE INNOVATION
COREIP | DESIGN THINKING | PROVEN DEVELOPMENT RESOURCES | BLOCKCHAIN EXPERTISE | FINANCE | LEGAL | PRODUCT MANAGEMENT
NAVIGATING THE COMPLEXITIES OF BRINGING IDEAS TO MARKET WHILE AVOIDING THE STUMBLING BLOCKS IN THE ‘PIT OF DESPAIR’
-- Confidential --
-- Confidential --
-- Confidential --
Pilot:
Strategy and benchmarks set for department-level
efficiencies of data: onboarding. mapping,
API Integration,
and reporting
Production Launch:
Expanding value and speed of progress across your company with
less redundancy and
more streamlined permissionless decisions and
workflows
Ecosystem:
NuArca facilitates connections across your existing clients and partners
with Smart Contracts that also allow new engagements to accelerate business development
Industry-wide
Network Effects:
You are now prepared for market disruption because the entire industry and adjacent markets can plug into your smarter, simpler, more efficient, and accommodating
value exchange
Rebuilding Right …
Value Delivered From Expanding Network Effects at and Between Every Phase
Current State
Well begins producing
Oil Company issues Division Order to Interest Owners.
Well produces and oil company records production, sale and price.
Oil company distributes checks, statements and reports to:
- Royalty Owners
-Working Interest Owners
-State/Federal Regulatory and Tax Agencies
Owners and Agencies record required information from statements.
Distribution of this data to multiple parties is redundant, burdensome and expensive and leads to mistakes, disputes and costly maintenance resolving issues across multiple parties.
Confidential and Proprietary Information
How it works:
A private distributed ledger allows different node holders across banks, oil companies and regulators to track relevant detail around well ownership, oil production, oil company expenses related to oil production, oil sales and payment of royalties back to mineral rights owners. Currently this is managed through several distinct software systems owned by the oil companies and banks as well as county registration of ownership. To this day, there is still a good deal of paper tracking of ownership as well as hundreds of thousands of paper checks being cut to distribute payments to mineral rights holders. There is a great deal of distrust between the four major participants involved in the process and a large amount of inefficiency. There are a few major software providers that are providing custom solutions for oil production tracking and payments and they are charging other stakeholders for access to the tracking data by the line. For individual banks, this can add up to hundreds of thousands of dollars just to access the relevant data related to mineral rights payments and oil production. By creating a distributed ledger, we will be allowing for access to that data in real time and at a much lower cost. Additionally we will be eliminating the need to create unique paper checks for each individual payment as all relevant payment detail will be tracked via the distributed ledger.
Three individual portal experiences will be created:
Mineral Rights Owner – This portal will allow a mineral rights owner to view their current ownership rights, the associated oil and gas production from associated with those rights, any payments that have been made on behalf of past production and relevant deductions or other metadata associated with those payments. Additionally, mineral rights owners can update their bank information as well as initiate updates to their ownership of mineral rights.
Oil & Gas Company – This portal will allow an oil and gas company to report on oil production, necessary expenses and oil sales. It will automatically calculate all necessary deductions and provide them with the detail necessary to process payments to the individual mineral rights holders based on their ownership stake. It will provide them with a running balance of their total owed to each bank that maintains accounts on behalf of their shareholders.
Banks – The portal will allow banks to identify the individual account payment amounts and associated detail for their accounting systems. They can use the system to update confirmation of net payment and any unbalanced payment at the end of the payment cycle. They will also use the system to manage account registration data related to mineral rights holders
Additionally, as a fourth stakeholder, regulators will have access to the data from an audit/oversight perspective. In certain circumstances regulators can also play a role in providing or certifying ownership access rights to individual wells.
In addition to the portals all data input/output will be supported through Authenticated API’s.
IMPROVED STATE - the process is shared with all parties at one time cutting steps in half
Confidential and Proprietary Information
How it works:
A private distributed ledger allows different node holders across banks, oil companies and regulators to track relevant detail around well ownership, oil production, oil company expenses related to oil production, oil sales and payment of royalties back to mineral rights owners. Currently this is managed through several distinct software systems owned by the oil companies and banks as well as county registration of ownership. To this day, there is still a good deal of paper tracking of ownership as well as hundreds of thousands of paper checks being cut to distribute payments to mineral rights holders. There is a great deal of distrust between the four major participants involved in the process and a large amount of inefficiency. There are a few major software providers that are providing custom solutions for oil production tracking and payments and they are charging other stakeholders for access to the tracking data by the line. For individual banks, this can add up to hundreds of thousands of dollars just to access the relevant data related to mineral rights payments and oil production. By creating a distributed ledger, we will be allowing for access to that data in real time and at a much lower cost. Additionally we will be eliminating the need to create unique paper checks for each individual payment as all relevant payment detail will be tracked via the distributed ledger.
Three individual portal experiences will be created:
Mineral Rights Owner – This portal will allow a mineral rights owner to view their current ownership rights, the associated oil and gas production from associated with those rights, any payments that have been made on behalf of past production and relevant deductions or other metadata associated with those payments. Additionally, mineral rights owners can update their bank information as well as initiate updates to their ownership of mineral rights.
Oil & Gas Company – This portal will allow an oil and gas company to report on oil production, necessary expenses and oil sales. It will automatically calculate all necessary deductions and provide them with the detail necessary to process payments to the individual mineral rights holders based on their ownership stake. It will provide them with a running balance of their total owed to each bank that maintains accounts on behalf of their shareholders.
Banks – The portal will allow banks to identify the individual account payment amounts and associated detail for their accounting systems. They can use the system to update confirmation of net payment and any unbalanced payment at the end of the payment cycle. They will also use the system to manage account registration data related to mineral rights holders
Additionally, as a fourth stakeholder, regulators will have access to the data from an audit/oversight perspective. In certain circumstances regulators can also play a role in providing or certifying ownership access rights to individual wells.
In addition to the portals all data input/output will be supported through Authenticated API’s.
Discover and Deliver the Paths to Profit with Next Steps in a New Market
We aligned with IBM and Oil & Gas industry leaders to transform
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PROBLEMS
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