SUAVE 1.0
Give your users a reason to share your brand
THE PROBLEM?
There is a 0.3% chance that a company post will get a like/share/retweet on Facebook and 0.1% with twitter. Social media is saturating. 45 times more content supply than demand. Brands are struggling to stand out.
Users don’t want to see boring, not contextual and blatant branded content by email or on social media. And brands can’t create content unique to each user. Engagement is on a steep decline.
If your outreach to the users is not contextual or directly relevant to the user, you won’t get their thumbs up or attention.
BIG OPPORTUNITY?
Brands are desperately looking for ways to bring users back into purchasing a new product or to re-engage them into their app. Brands are spending £££££’s on creating video campaigns by hiring creative and ad agencies that serve creative video ads to the millennials.
Emails with offers don’t convert. There is need to create content that people feel ‘wowed’ by, making their online experience emotional and powerful.
Imagine a technology that automatically creates such creative unique videos for the users and pushes the videos to the users at the right moment. That’s the big opportunity!
How? Using data. Brands are sitting on data that is gold. Data about their users activity related to their product, user generated content, logs etc.
Facebook was the first company to leverage that data smartly through ‘a look back’ and ‘friends’ themed personalised videos shown to users (highlighting their special moments).
It was the world’s first personalised video campaign to go viral amongst the Facebook 1.44b users. 50% of the users shared such videos!! It was simple, but nostalgic and personal. It triggered an emotion.
Using data and creative storytelling to create a piece of content that is emotional and contextual!
A recent study by Cisco Systems shows consumer video will account for 80% of all internet traffic by 2019.
In email marketing, video has been shown to increase click-through rates by up to 94%.
Our technology can help brands communicate with their customers as individuals rather than categorised groups, a problem that our technology is proving to address.
What have we built?
A proprietary video technology (B2B that creates videos automatically using data and user-generated content with a blend of creative storytelling.
In real-time, a brand can send a personal (unique) video for that one customer (triggered by an event such as a customer signing up) to exploit an upsell, cross-sell or more engagement opportunity using our technology.
Using their data.
Sent only 1 video per user based on a key event (that generates data that can be leveraged to create a relevant video).
Multiply this for thousands and millions of your users.
We want the users to feel good about their interaction with the brand.
Whenever they use the brand (app, website or service) and have a good experience, brands can leverage that experience using our technology to push out a video that drives direct sales, engagement or engagement.
USE-CASES (traction)
Let’s dive into the clients we are speaking with..
BURBERRY
When someone purchases a personalised product from Burberry. A personalised videos is sent to the customer to extend that Burberry experience post purchase.
Status: In talks with the COO (John Smith) on the right use-case for our technology to go with their campaign. Nothing confirmed yet but they are keen.
JUSTGIVING
When a fundraiser creates a campaign to raise money for a specific cause. Our technology can automatically create a personalised video to tell the story of the fundraiser and encourage them to share it on social media. The video aids them in promoting their cause and increases donations to achieve their target.
Status: In talks with the Marketing lead for the UK on rolling out the video technology for their millions of fundraisers.
HAIKUJAM
3 people write 1 line each on a trending topic to complete a beautiful haiku through the mobile app. Our video technology brings that haiku to life by showing how a creative haiku is written in collaboration by 3 strangers.
Status: Free trial already started.
FITWELL
Growing at 10k users per week, this Microsoft backed health tech app wants to increase user engagement for milestones achieved through our video technology by pushing out personalised video achievement badges.
Status: Integrating the technology for trial starting in September.
ISANGO
Give customer the ability to experience the world through the large range of activities they offer on their website. Book your holiday and then plan the activities of your holiday through Isango.
Status: Customising the technology to build an interactive video player for their users to enhance the experience.
Business Model
Five sectors that this technology has a strong fit for (not mutually exhaustive): Fashion, Health-tech, Travel, Fin-tech and Charities.
Depending on their user-base and use-case (from upsell/cross-sell to pure engagement increase or growth oriented goals), we have developed a demand driven subscription model.
Our API can easily connect to any client’s CRM and pulls in data to create a video automatically once the trigger and storytelling template(s) are set up.
The main cost is server processing, storage and computations per API call (cost to us: £0.07 per video). This makes our above subscription model very attractive for brands that are in the volume game.
The Pivot (history)
Suave started as B2C product 2 years ago in the content curation domain. We built together a chrome extension that can save, manage and share automatically parts of the web pages you find relevant just with a click of a button.
Traction was good but business model was hard to exploit. But we were lean and critical enough to not get stuck with the product development circle and decided to pivot.
Mid last year, the team and our board of directors made a decision collectively to use the remaining runway to pivot towards a B2B product when we saw a clear market opportunity on this big engagement problem.
We spent the last 6 months building on top of existing infrastructure to launch the video product for brands.
Investment raised, runway and burnt rate
We are extremely proud to have the most supportive and astute investors in the company so far. Ranging from CEO of one of the big PR firms to the top leading syndicate SEIS fund in UK.
Having 5 full-time team members results in majority of our burn rate and has been for the past 1 year (~£140k). We spent 30% of our funds on marketing the previous product (~£90k). This included going for technology events (WebSummit, TechCrunch), campaigns and social media marketing.
Bridge Round
Initial interest for our technology is quite overwhelming. But then it’s a B2B sales process. It takes time. We estimate it taking between 6–8 months before we start signing contracts with the big ones. Although conversations are moving fast.
We want to raise a bridge round of £60k at an existing pre-money valuation of £1.5m.
What for?
a. Create case-studies for the technology as we are in the trial phase with two brands.
b. Sustain our burn-rate for the next 9 months. i.e. March 2017.
c. Close deals with the big brands by end of this year to have self-sustaining revenue generating from end of the year realistically.
Revenue Forecast
We are looking to secure realistically 7–8 clients in the next 12 months.
The revenue forecast in the next two years would look like the below:
Year 1: £677k
Year 2: £900k
If you have any questions, please to get in touch: ripul@suave.it
