Montana Career Opportunity – CEO – ExperienceLab

ExperienceLab http://www.experiencelab.com is seeking a Chief Executive Officer to lead the company’s transition from being a startup with a proven, patented product and a number of world class customers to being the preeminent supplier in a large nationwide market. The ideal candidate will have a strong educational background, training in a work environment proven to produce leaders and operational management experience where he/she has demonstrated the attitudes and behaviors of energy, self-motivation, leadership, intelligence, dedication to customer relations and passion for work. A preferred candidate will have experience in sales and marketing, management in the health insurance, education, or consumer product marketing industries.

Background

The target market for ExperienceLab’s offering is 100 million employees who receive health insurance from employers. For this market, ExperienceLab builds educational videos about high deductible, tax-advantaged, consumer directed health plans which it licenses through annual subscriptions to financial institutions, TPAs, brokers, and employers. The company’s approach to content development and delivery is unique and patented. Content is developed based on personality insights from the company’s national attitudinal research. Then using a 5-question personality assessment, consumers are typed into one of seven Myers-Briggs type "personalities" and then delivered personality-tailored videos about health plan enrollment and/or use of health and wellness. This patented process is built into an Oracle/RightNow SAAS platform. In-market tests have proven that this approach can drive up to 4000% improvement in response.

The company’s development of this service began in 2006 when most of 100 million employees who received health insurance from their employer had low interest and participation in their health insurance and their healthcare. Seeing an opportunity to take advantage of coming changes in the healthcare industry, the company began a national research project to build and test an attitudinal model of the 170 million consumers who are the beneficiaries of employer-provided health insurance. This 3 year research project delivered new insights into consumer choice and use of health plans and related financial products. It also delivered a set of surveys (typing tools) that, with very high accuracy, can assign consumers to unique "health finance personality groups" in a process similar to the Myers-Briggs survey. Creating a SAAS platform to automate parts of this typing process, the typing tool became the company’s initial offering – a way for employers to get new information about employee preferences so they can design appropriate health plans and educational communications about them.
The company test marketed this typing tool offering in 2009 -2010 to insurance companies, health insurance brokers, employers and financial institutions. The offering was successful at introducing the company’s unique approach and generating valuable feedback. However, it had limited scalability; it was not easy to sell, and it could not be completely automated – consulting was required to deliver it. Finally, it appeared that to have a complete offering, the company also would have to provide personality-tailored educational content that had a measurable payback.
Thus, during 2011 and 2012 the company developed such personality-tailored content using web and video and was successful in licensing it to a number of financial institutions and employers including Wells Fargo, Chase Manhattan, United Health, the State of Missouri and Google.
Based on this success, in early 2013, the company set up its RightNow SAAS platform to combine the original personality typing process with the delivery of content tailored to the health-finance personality of each consumer. The company also sharpened its business model to encourage steady and continuing revenue. Thus, the current "Video on Demand" service is offered as an annual subscription at a price of $.08 per month per subscriber. The first client for the service was JPMorgan Chase who in May 2013 prepaid subscriptions through 2014 for 100,000 consumers and recently requested a proposal for renewing their subscriptions for 2015.

The company’s activities at this time are (1) marketing the offering to additional financial service clients, TPA’s, large brokers and employers and (2) building educational videos to deliver to subscribers.

Duties

The immediate duties of a new CEO will include:

(1) Fund raising – Assisting in the process of planning for and raising money to build the company’s financial strength and support planned growth.

(2) Operations management – Dividing the work of managing product and sales with the existing CEO.

(3) Marketing Planning – Developing a marketing plan for the product

CEO Compensation and Ownership

Compensation for the proposed position is a combination of cash and stock. Cash compensation is negotiable based on the experience of the candidate, competitive rates, and available cash flow. A 20% equity position and an option to buy the rest of the company are available through a staged program. The equity program calls for the candidate to invest $100,000 in the company at the market price at the start of the program for which they will receive approximately 2% of the company’s shares. At the same time, the candidate will receive stock approximating 15% of the shares of the company, those shares to vest at the rate of 33% per year at the end of each of the following three years. Further, the candidate can receive up to an additional 5% of the shares of the company over the three year period based upon attaining mutually agreed upon performance goals.

ExperienceLab’s Existing CEO

The current CEO and founder is a graduate of Harvard Business School. He was president of Epsilon, the largest direct marketing agency in the US. He founded the first manufacturer of distributed processing CRM software and sold it to Accenture. He was a partner of Accenture, a director of First Manhattan Consulting and a managing vice president of Rosetta Marketing.

Roger M. Travis | President | ExperienceLab Inc.| http://www.experiencelab.com | [email protected] | 507 South 8th Avenue | Bozeman, MT 59715