Route to Market

Our initial strategy was to enter each market with the REYEDR App, develop a threshold level of community and then release the HUD. Since then, having received sage advice from our Specialist Mentor for growth hacking Andy Ford, regarding the sizable resources needed to build a community; it was decided to debut the HUD first. The objective being to focus scarce resources during the start-up phase to develop the HUD, the primary revenue earner. In the interim, we will continue to validate, build, test and perfect the App and its UX.

Purchasers of the HUD will be able to download the App for free as it is the OS (Operating System) for the HUD. These HUD buyers would be key influencers and will be instrumental in driving adoption of the App (and building the REYEDR community) by promoting use of the App to their mates when on group rides; as the App also functions independently of the HUD and will be available to non HUD purchasers for a fee.

From Chinese smartphone manufacturer Xiaomi’s business model and their success against  Samsung and Apple; it is clear that online sales is a viable go-to-market channel, when applied in conjunction with an effective customer engagement program.  The internet is a proven disintermediation tool for bypassing inefficiencies and high costs of the conventional store based distribution channel therefore to take the HUD direct to our B2C customers; we will initially use online sales channels such as product crowdfunding, company website and social media ecommerce.

3PL (third party logistics) will be utilised to move stocks of the HUD from our offshore CM (Contract Manufacturer) to 3PL warehouses in our country markets with ‘pick-n-pack’ distribution; for fulfilment of customer orders.

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B2C Route to Market

By observing the success of various emerging technology products through crowdfunded sites and social media we believe the online sales channel is ideal for entering global markets, however this may only hold true for early adopters and at the early stages when demand outstrips supply. Some foreign markets and customer segments though may prefer a ‘touch and feel’ experience prior to making a purchase decision. When needed we will modify the business plan to a multi-channel distribution model by partnering with distributors and retail channels.

Crowdfunding: validation & growth hacking tool

Having researched extensively the crowdfunding process and the value it can provide in terms of a validation strategy it is evident that for the REYEDR HUD, this is the preferred mode of market entry. Through Specialist Mentor Richard Conway’s network; I have also determined that the odds in favour of a successful KS (Kick Starter) campaign increase considerably if a concentrated PR campaign is put into play about 6 months prior.

Crowdfunding would also be valuable as a growth hacking tool; a successful campaign can go viral within days, with extensive coverage in the press and social media. As per the current HUD development roadmap, we are looking to debut through crowdfunding in mid Q4 2016.

CES (Consumer Electronic Show) January 2017

Following on from our crowdfunding campaign we plan to exhibit at the CES, in our main market USA. “CES has been the launch pad for new innovation and technology that has changed the world. Held in Las Vegas every year, it is the world’s gathering place for all who thrive on the business of consumer technologies and where next-generation innovations are introduced to the marketplace”.

Accomplishments Week 9 (GBUR)

Good: 

  • Jens figured out a solution for a problem which blocked software development progress for a while
  • Jens finds it working better now with less distraction/disruption (as fewer LL workshops) and gets faster (can now catch up with planned schedule)
  • We are slowly getting more focus on PR and growth hacking
  • RAG (Reyedr Advisory Group) now at 80 people – we didn’t realise we had that much interest already!
  • Kal approached the NZ author of a trip advisor book for scenic rides (to use his routes in the REYEDR App) and he’s keen to work with us. Discussions to follow soon.

Bad:

  • Our app design; according to feedback from our Specialist Mentor Jonny Lim needs to be simpler, more clean
  • Also means new app mock-ups for webpage and pitch product shots
  • Rendering of 3D images takes too long, need more powerful computers in the future

Ugly:

  • Our wordpress website wasn’t functioning properly – problems with the clear DB MySQL database in the background (fixed for now after endless mails to provider)
  • Therefore new work on the list for Jens to setup a virtual server to host our own DB and wordpress instance, which should speed up loading times as well
  • Our app icon designs upset designers (whom we asked for feedback) and we need to find a good looking design that is pleasing for them and recognisable 

Rock:

  • Still waiting for ATEED approval (but no way to speed it up, just patience needed)
  • Same for HAX accelerator (waiting for answer, can barely contain curiosity)

If you missed any previous weekly roundups (link to our archives below):

Week 1 What is REYEDR?

Week 2 The Market

Week 3 Our Mission

Week 4 REYEDR Community; Revenue Streams

Week 5 REYEDR: at the cusp of key Macro Trends

Week 6 Validation; Marketing & Sales Strategy

 

Lead Mentor profile: Ken Erskine Entrepreneur, Investor

Ken-Erskine

 

 

 

Ken Erskine,  entrepreneur, investor with extensive experience across New Zealand and international startup ecosystems. Ken’s previous roles include Director of ICE Angels and The Icehouse Incubator. An active investment committee member for GD1 and Return on Science he has personally invested in over 50 startup companies and advised many hundreds more.

Previously Ken held sales and marketing Director roles at Hewlett Packard and Compaq NZ.  Born in Scotland, educated in Europe he holds a Corporate MBA from EAP (now ESCP) business school in Paris. 


 

Regards

Kal Gwalani, CEO

mango teQ Limited

CEO & Founder