Interview With Andy Choi
Describe your product or service & the problem it's solving:
“Do Good Points is the first-ever digital loyalty program for doing good and the only platform where you don’t have to spend a single dollar to do good.
Mission: To activate and empower the next generation of do-gooders.
Problem: Most active donors today are aging out — the average donor in the US is 64 years old. Meanwhile, nonprofits don’t have the means to reach a younger audience — over 50% don’t have a digital marketing budget.
Solution: Using proven methods of gamification, Do Good Points wants to grow charitable giving by activating the desire to do good that exists in all of us. We reach and engage a younger generation to take action. And our scalable marketing solutions allow nonprofits to reach this audience more effectively.”
How did you come up with and validate your startup idea? Tell us the story!
“When I was young, my parents decided to pursue their calling to serve others and plant a church. I didn’t understand why — they sold their business, which was my family’s only source of income, and had to care for my oldest brother, who was born with cerebral palsy. Though I struggled with it for a long time, I now see the endless sacrifices they made and see them for the heroes they are and the example they’ve set for me.
Before starting Do Good Points, I was comfortable at my corporate job, but I always knew God had a different plan for me. I thought giving back would happen after reaching a certain level of success, but starting Do Good Points felt like a calling — one that I honestly resisted at first. But that calling was simple, give from what you have now and do what you can today.”
How are you funded? I.e. type of funding, number of funding rounds, total funding amount.
Feeling inspired? Learn how to launch your company with our guide on how to start a startup.
Who is your target market? How did you determine this?
“Based on extensive research:
- In their 30s
- Has a full-time job
- Digitally savvy and always using mobile for everything
- Thinks of donation as a way of doing good while can't spend time volunteering and working directly on the ground
- Follows and supports some issues and causes local to their region
- Follows brands and businesses that support the cause/s they support
- Reads articles related to the cause/s on social media
- Donates to their friends' fundraisers
- Learns and follows the causes endorsed by their peers, celebrity idols, and favorite brands”
What's your primary marketing strategy?
“Good Points Loyalty Program:
Doing good should be fun, easy, and accessible for everyone, no matter what their financial situation is. As the first rewards program of its kind, for every action you take on the platform, you earn Good Points that can be redeemed towards a monetary donation., which means you don’t have to spend a single dollar to make a charitable donation on our platform.
When a user donates through our platform, a portion of every dollar is re-invested through the Do Good Foundation, which works with organizations to drive more awareness and engagement for their cause, helping them achieve sustainable growth.
This serves as our growth hack for good, as the reinvestments drive compounded growth by providing solutions and resources to support nonprofits and further drive awareness for their cause, which will ultimately help to bring in more do-gooders to the platform to create even greater collective impact.”
How did you acquire your first 100 customers?
“Cause marketing through mobile gaming.”
What are the key customer metrics / unit economics / KPIs you pay attention to to monitor the health of your business?
What was the biggest obstacle you encountered while launching your company? How did you overcome it?
“That the business model for Return on Giving (ROG) is too different, therefore, people might have a difficult time understanding it and, ultimately, not support it. Also, the ROG fund will be primarily used for marketing, and breaking the stigma behind nonprofit resources being used for marketing will be a difficult challenge.”
What is something that surprised you about entrepreneurship?
“The pressure of being responsible for others, more than the business itself.”
What is your #1 piece of advice for startup founders?
“Start with WHY and focus on finding people that share the same ‘why.’”
More on Do Good Points
Do Good Points exists to facilitate charitable giving by, among other things, aggregating important information about nonprofits in one place.
Andy Choi, founder of Do Good Points, joins the podcast chat about his mission-driven startup and how he found the 'why' behind his company.