Building the world’s first savings account for travel: Week 33
Matt here, the new co-founder of Moneycado. I’m excited to be writing this week’s update and even more excited to be co-founding Moneycado with Oli. Firstly thank you to those of you who have already gotten in touch, I’ve received a lot of encouragement and I’m enormously grateful for the support.
I’ll be focusing on sales and marketing for Moneycado; reaching potential users and building partnerships with travel operators. I’ve worked in digital marketing throughout my career and I’m a travel junkie (29 countries and counting…). If you want to know a little more, check out this article on how I came to join Moneycado.
What we did
Oli has been away mountain biking in Bulgaria this week. He made a lot of noise about going ‘off the grid’ but somehow my inbox has been full of messages when I check it each morning.
This week I’ve been getting setup at TechHub, building our marketing strategy. On the social media front I’ve established our instagram, using a combination of our business story, personal story and savings and travel inspiration. It’s challenging to strike the right tone for a product which is both financial and travel related, especially as we’re still developing it.
To build a community we’ve also decided to host a series of #TravelTuesday meetups, where would-be travellers can come to hear about amazing trips and the planning behind them. For our first event on Tuesday 17 July I’ll be talking about my latest trip to Peru, where I completed a 9 day, 109km trek to Macchu Picchu and visited the Amazon from Iquitos, the biggest city in the world inaccessible by road.
My immediate goal is to build a waitlist of 1,000 potential users by 1 September. After one week we’ve increased from 31 to 82 without any marketing spend, I’m constantly surprised by how positive the reaction is once I’ve explained the proposition. When Oli is back next week we’ll be setting and executing on our first marketing tactics. Watch this space!
What we will do next
- Introducing a rewards-based waitlist to incentivise sharing
- Targeting and pitching to prospective travel partners
- Designing the prototype with collaborators Mark and George
Problems we are facing
- Confirming a developer/technical lead to build the prototype
- Getting meetings with travel operators to help them reach new customers
- Building a 1000 person waitlist in a cost-effective manner
Thanks To
- Oli, for handing over the marketing reins
- Tyler Goin, Product Marketing Manager at Google
- Mom and Dad for your support in launching a start-up
Until next week!
Matt
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