Micronotes.com – Merritt Mayher Interview

Micronotes.com is definitely a startup company to keep your eye on. Utilizing innovative technology, Micronotes plans to further incentivize the online bill paying process for both consumer brands and the online bill payers. On one end of the transaction, bill payers will be given an opportunity to save money. On the other end, consumer brands will be able to communicate with online users at the most opportune moment possible. With more and more people looking to save money, their technology could be a hit for all parties involved.

About a week ago, Micronotes was named one of the Top 10 finalists for Startup 2009. I interviewed Merritt Mayher, the COO of Micronotes, to learn more about this exciting startup.

Stephen Kersey: Can you explain the Micronotes.com service to our readers?

Merritt Mayher: At Micronotes, consumer brands pay cash savings that get applied directly in the online bill-pay session in exchange for sustained communications and the opportunity to make customized offers to online bill payers. Our patent-pending SaaS technology enables us to access online bill-payers through bank partnerships and to generate bank revenue for online bill-pay platforms. We create value for full opt-in online consumer interactions between banks, brands and consumers. We connect the consumer’s desire to save with the most relevant consumer brands to their lifestyles in a collaborative, uncluttered communication opportunity where savings matter: the moment of bill payment.

Our product addresses the ever present tradeoff between reach and relevance for marketers.  Unlike current interactive and print direct marketing tools, including direct mail and email, which are all interruption-based, we deliver permission based communications tailored by the consumer through their answers to segmenting questions.  Our proprietary technology transforms the time consumers spend paying their bills online into cash savings on their bills while delivering cost savings and direct marketing ROI to consumer brands. Micronotes allows consumer brands to compare, listen and measure what consumers say with what they actually do.

SK: Congrats on being named one of the ten finalists for the Startup 2009 grand prize. Are you excited about your chances?

MM: We’re delighted to be a finalist in the Startup 2009 competition, the Business Insider team has made our experience very smooth.  We’re confident that our idea, team, and presentation will be a strong contender for the grand prize.

SK: All startups have obstacles they have to overcome. What obstacles has Micronotes faced?

MM: Like most startups, we’ve been evolving our business model at a pace that rivals the life cycle of fruit flies.  Some days are very frustrating when a solution or strategy doesn’t turn out as you’d hoped.  Fortunately we have a great team and when we hit  a wall we can boost each other over it.

SK: Many people love the challenges and excitement of the startup process. What aspects do you enjoy the most?

MM: The pace is exhilarating.  Much of my previous work experience has been in very long tenured enterprises, to be working on an untouched canvas is terrific.

SK: As part of a startup that appears to be well on its way to success, what tips do you have for would-be entrepreneurs who are considering taking the plunge?

MM: Focus on your team. The idea can and will change; but the team has to have the resilience and diversity of background to handle the twists and turns.  Take care of yourselves, a startup is a marathon run at  a sprint pace.  Eat right, exercise and keep some life outside of work.  Perspective is critical.

SK: What are Micronotes.com’s short-term goals? Long-term goals?

MM: We’re focused on our upcoming field trial, which will further validate key data about customer acquisition costs and consumer acceptance.  Our longer-term goal is to launch our product with a strategic bank partner in early 2010.

Micronotes Screen Shot