We are looking to grow our business and are currently
going to the market for Accelerator funding.
iBleat - Your One Customer Care App
R 5,000,000 (ZAR)
There is a massive gap for a dedicated customer care channel. One app to be used whether you are standing in a banking line, shopping, at a restaurant, in a hotel, on a flight and now even in the traffic!
So we developed it. iBleat - One app connecting every customer to any company – easily!
In doing so we have already created a new “social” word. With Twitter you “Tweet” and with iBleat you “Bleat”
We would like to raise R5 Million (ZAR) to grow our business for a 20% equity share, valuing the business at R20 Million.
There are many great apps making our lives that much easier, such as Facebook, Twitter, Uber, Airbnb, Trip Advisor and others. So influential that looking back we wonder how we survived without them. We also wish we had the opportunity to have been an early investor in those apps as we would all love to be part of the next big thing.
So what could be the next big thing? Well think about this - there is no universal Customer Care App on the market. Surprising? We thought so!
Even more surprising when you realise that 67% of all social media posts relate to customer care (Sykes). You know why? Simply we love mobile, and seeing as there was no alternative or universal customer care app we started to use Facebook, Twitter and WhatsApp, hoping that the companies we wished to communicate with did in fact have a social presence.
In fact in doing so, we the customers, forced the companies to listen for us on these channels. Sadly, this solution is simply not that effective and many posts remain un-responded to.
We fervently believe there is a massive gap for a dedicated customer care channel. One app to be used whether you are standing in a banking line, shopping, at a restaurant, in a hotel, on a flight and now even in the traffic!
Bleat it – and be heard!
iBleat - One app connecting every customer to any company – easily.
Report by Radiant Insights Inc
The Global outsourced customer care services market is estimated at USD 84.7 Billion by 2020.
The Global outsourced customer care services market was valued USD 62.5 Billion in 2014, with estimation of USD 84.7 Billion by 2020, growing at 5.2% from 2014 to 2020.
The Global demand in customer interactive service activity was USD 51.6 Billion in 2014 which is probable to exceed USD 68.6 Billion by 2020, growing at a CAGR of 12.1%.
It consists of communications across various channels such as e-mail, instant messaging, telephone, social media and SMS. The need for interaction through non-voice channels is estimated to boost global demand over the forecast period.
(A key portion of their report below is exactly why we believe iBleat will be successful on the International markets!)
"The focus on efficient and effective mobile customer care is increasing, with buyers looking for mobility services across various platforms. Growing cloud and host based services, along with trends such as social media and big data, are expected to strengthen the industry competition over the forecast period. Aging workforce in developed markets coupled with escalating demand from the Asia Pacific region is acting as growth opportunities". (Radiant Insights Inc)
iBleat was conceived by two brothers over breakfast and a cup of coffee.
They had just received friendly service from a waitress with a great attitude and welcoming personality. She deserved recognition. They started chatting about how to let the franchise owner know. The conversation led to them realising that great service is often not recognised just because it’s not easy to do so.
They discussed writing an email… but that takes some effort. They discussed using Facebook… and tried it. Surprisingly, it’s not as simple as you think!
First, they searched for the company and got multiple results for the franchise in different cities around the world. Eventually, after searching further, they found the correct outlet but then they couldn’t post directly to their page. So, they decided the best way was to post on their own page and tag the franchise. To this, the one brother laughingly said that he didn’t really want his friends to know that he was having a laid-back morning and not actually at the office! So that was scrapped.
They discussed Twitter. Guess what, the same applies!
Jokingly one suggested that there should be an app for this. An app for compliments and complaints. It’s still being debated who suggested it first!
For you the User
At last, one App to contact any Company or Business directly. In addition, rating and reviewing your customer care experience is easy.
With iBleat you use one App whether you are standing in a banking line, shopping, at a restaurant, on a flight and now even in traffic!
iBleat allows you to select - Compliment & Complaints or My City.
Compliment & Complaints
It's never been easier to ‘Bleat’ any positive or negative issues quickly and effectively. Up to two thirds of social media customer care posts are not responded to!
With iBleat you will Be Heard!
Traffic – ‘Bleat’ traffic incidents and become an active participant in making our roads a safer place for all of us. All Traffic Bleats are forwarded to your local traffic authority. Every driver realizing that their driving is potentially monitored, will moderate their behaviour.
Municipal Issues – ‘Bleat’ matters such as electricity faults, water leaks and potholes to your local authority.
For Businesses Owners
Whether Small or Large - list your company with us, it’s Free! Tell your customers they may use iBleat to reach out to you - and you have a Customer Care App without the cost! This is awesome for small business owners – the back bone of our economy! All ‘Bleats’ are delivered instantly to the email address you provide to us. No expensive or technical integration is required.
iBleat - Customer Care at your fingertips
Bleat it and Be Heard!
Client Web-Based Admin Panel
Client Web-Based Admin Panel
Traffic Authority Web-Based Admin Panel
Traffic Authority Web-Based Admin Panel
Product Video. Dont Cry Over Spoilt Milk
Product Video. iBleat for Companies
Product Video. Quick Snap
Product Video. Try a Bleat
Product Video. Traffic
Customer On-Boarding Strategy
iBleat will always be offered free to users and is also free to companies for the basic plan.
As our revenue model is based on companies buying our services, we encourage them to buy up to receive additional features and benefits, such as our web-based admin panel, real time map showing the location of each bleat, in app chat, and the functionality to make and receive VOIP calls.
In each country we launch in we engage data capturers to capture all major retail stores, brands and products to populate our App. This means the App is operational immediately. In South Africa we have 1490 Brands, 2223 products, and 2252 stores or companies listed (Source: Existing iBleat Database - This verified data can be shared under NDA).
We run social media campaigns to secure users. When a user "Bleats" an issue, it is routed to a company’s (that we have already captured) customer care email, together with a covering letter advising them about us and requesting they "officially" list with us for free. Once we have officially listed them we report to them monthly on the Bleats they have received.
We also monitor our server for Bleats to companies that have not yet been captured to our database. We manually route Bleats to them with an introductory letter, simultaneously adding them to our database. Our sales team then follows up.
Everything we have created to date has been done on a limited budget. This includes our corporate identity, web page, social media presence, initial product videos, marketing material and the like. The only function that was sub-contracted was the app development. Although we have been extensively complimented with what we have achieved to date, and the fact that we have a great working product in both the Play Store and Apple store, we are keenly aware of the fact that we need to scale and build on this foundation.
iBleat’s aim is to continue to draw customers away from social media and chat apps, encouraging use of our private, secure and dedicated customer service channel.
Considering what we have achieved already - imagine what we can achieve with a successful Crowd Funding. This will allow us to move form a “garage start-up” business to a dynamic and professional organisation. Our initial main focus will be on:
Phase 1 (Immediate)
A re-work of our corporate identity and branding
The upgrade of our web site.
The appointment of an in-house social media expert to re-engineer our social media pages and presence and interact daily.
Introduce a number of ongoing social media campaigns focused on new user acquisition and to encourage companies to sign up.
Build a dynamic sales team.
Phase 2 (Months 3 - 6)
Build an in-house team of app developers.
Implement a re-write of the app with a focus on a more intuitive and exciting UX/UI and the introduction of some new features and benefits, such as the ability to complete the product or brand information by merely bar scanning a product.
The upgrade of the backend and our web-based administration panel for companies, including developing API’s to seamlessly integrate with CRM systems.
Implement full data analytics and reporting.
Target new countries and successfully launch into new markets.
Phase 3 (Months 6 – 12)
During this period we will constantly respond to market feedback and adjust our strategies. We intend to remain a highly agile company and adapt our product offering, pricing and marketing strategies in line with our market acceptance and positioning. Our financial projections are based on a number of assumptions that are fluid. We are cognisant of the fact that speed to market will always be crucial. This may entail having to adjust our budgets and marketing spend. As with all start-ups it is envisaged that we may have to raise additional capital to become a significant player in international markets.
Typically all start-ups follow the process of first raising Angel investment to develop a working prototype, a Seed or Accelerator capital raise to enter the market and get traction (where we are now) and then a Series A capital raise to leverage off their success. We will monitor our success and consider a Series A capital raise during the next 12 to 18 months should it be applicable. This will be extremely good for all existing investors, who at this point will have the option to exit and realise their investment with significant gains or stay in for the long ride. At each successful capital raise the value of the business invariably jumps significantly.
iBleat vs existing Social Media and traditional Customer Service offerings
Social Media has rapidly become the most favored means for customers to contact companies for customer service issues. Currently 67% of all social media posts relate to customer service issues (Sykes). Customer service interactions over Twitter have increased by 250% over the last two years (Twitter). This is for the following reasons.
Typical customer care channels, such as call centres, are seen to be time consuming and mostly frustrating.
Customers care contact details can be difficult to find on-the-run.
We want to engage on mobile and it seems the easiest method to air and share our issues.
Although companies may have their own apps most of us are adverse to having a multitude of Apps on our phones, so we seek the easiest alternative.
Social media does have drawbacks
Companies have to monitor, mine and search social media for posts directed to them.
Social media posts may get incorrectly tagged and fall through the cracks, thus not reaching the company.
This compounds an existing problem as 60% of consumers who reach out to a business on social media expect a response within 1 hour or less (Sykes). Should they not receive that response their dissatisfaction increases.
Due to the public nature of social media it is not private or secure unless one can direct message. It is risky to post issues about luxury items.
Many customers don’t want their social media friends to see what they are complaining about, especially on low ticket items.
Customers still have to construct their complaint and may miss relevant data that a company requires to solve the issue quickly and effectively.
From our experience posting publicly usually occurs when an issue has not been satisfactorily resolved and posts are out of frustration, with the need to name and shame.
Following this - and likely as a result of these drawbacks - we have seen WeChat, WhatsApp and Messenger enter the market, allowing customers to contact businesses to open a chat conversation, while some businesses have launched their own chat applications.
These chat options have proved themselves for individual and group chat communication but have not been designed as a specific customer care solution. Rather, they are merely a platform to open a dialogue between a customer and business.
Chat/Messaging also has inherent drawbacks
Customers still have to search for the business.
Customers still have to construct complaints and may miss relevant data that a company requires to solve issues quickly and effectively. Typically businesses require date, time, location, store or outlet, general nature of the issue, a photo if possible and a short description.
Even though the dialogue is opened, it potentially could take time to resolve as the first number of messages are merely to gain the relevant information mentioned above.
They are therefore easy to use but perhaps not as efficient as expected.
iBleat’s dedicated Customer Service channel has the following benefits:
Every business, small or large, immediately has a dedicated customer service App.
Users don’t have to search and or look up a business's details.
The “Bleat” (compliment or complaint) is correctly and intuitively structured, with all the relevant information (date, time, location, store or outlet, general nature of the issue, a photo and a short description).
It is private and secure.
Bleats are correctly directed instantly to the business - they will receive it. Bleats are sent to the business’s customer care email. No fancy integration is required.
Businesses may instantly respond with the full Bleat in front of the agent. Having all the info increases their ability to immediately engage effectively.
This reduces first call response times. This saves the business money and improves the customer experience
iBleat retains the ability for users to share to Facebook or Twitter should their issues not be resolved timeously or to their satisfaction.
More good happens than bad and iBleat is the easiest platform to recognize good service. All businesses welcome compliments.
iBleat significantly de-clutters social media.
iBleat is easy and intuitive to use.
“The most important factor in customer loyalty is reduction of customer effort”. (Havard Business Review).
“The Berkus Method” - How to value Start-up businesses, that are Pre Revenue.”
It was designed by Dave Berkus, a renowned author and highly respected businessman and Angel Investor from California, and adopted by many early stage Venture Capitalists.
To quote Dave Berkus...
“For those of us who’ve invested in early stage companies, especially technology start-ups, we have confronted a universal problem. There are many ways to project the value of a company for purposes of pricing an investment, but all rely upon the revenue and profit projections of the entrepreneur as a starting point. Many formulas then discount those projections according to some set percentage or by assigning weight to elements of the enterprise. Years ago, confronted with the same conundrum, in the middle 1990’s I came up with a method of assessing the value of critical elements of a start-up without having to analyze the projected financials, except to the extent that the investor believes in the potential of a company to reach over $20 million in revenues by the fifth year of business”
If it Exists: Add to Company Value up to $500k:
Sound Idea (basic value, product risk - Add $500k - (iBleat - Yes)
Prototype (reducing technology risk) - Add $500k - (iBleat - Yes)
Quality Management Team (reducing execution risk) - Add $500k - (iBleat - Yes)
Product Rollout or Sales (reducing financial or production risk) - Add $500k - (iBleat - Yes)
Strategic relationships (reducing market risk and competitive risk) - Add $500k - (iBleat - Not Yet) With your support in crowd Funding, we will build our user base, gain traction and become a force to be reckoned with.
4 out of the 5 points above gives a Total value $2,000,000. At USD:ZAR 15.16 = R30,320,000. We have discounted this to R20,000,000.
Aside from this method of valuation we have included Financial Projections for a 3 year period.
Our financials reflect the discounted cashflow method. We have created a fully interactive spreadsheet allowing the viewer to test all the critical assumptions on a Sensitivity Analysis. The full financial model is available on request and on signature of a Non-Disclosure Agreement.
The iBleat financial management team recognizes our obligation to manage your investment appropriately. We have developed strategies to mitigate exposure to financial risk that includes a contingency budget to ensure positive cash positions are maintained, achieved and sustainable. Below is a summary
Financial Risk-Identification and Mitigation:
User Installs: (Drives Critical Mass)
As our revenue model is B2B, as such user installs have no material effect on revenue drivers. However, unless we have significant user uptake, we would find it difficult for companies to take us seriously and be encouraged to sign up with us. We refer to this as critical mass. We are therefore B2C in achieving critical mass.
We identify critical mass as achievable within 6 months.
We intend to ensure that the social media marketing budget spend is consistent with our growth plan and will be adjusted should the user installs fall below budget.
Management believes it has adequately budgeted to meet targets. Should variations be identified, immediate restructuring will take place and if utilised the Contingency budget will be replenished and maintained.
Cost Per Install: (Including social media and other marketing spend)
The lower our cost per install the higher the profits.
This is a variable that could be the most fluid. The Sensitivity Analysis allows us to adjust this substantially and still remain profitable.
Management will consistently work to ensure it is achieving the most effective market penetration at the best possible cost per install.
Revenue: (iBleat Sales Team are the driving force for achieving company sign on)
Our revenue model is B2B
Sales Team incentive packages are key drivers for achieving our revenue budgets. We have budgeted a high commission package to secure an effective sales team
It’s important to note that we price per Company, Store or per Brand listed with us. A large retail store may have 1000 stores such as a Pick n Pay or Checkers. A large food franchise could similarly have 800 plus stores. Then there are all the small businesses that might be a one store business or restaurant.
Our Sales Team will target the larger companies, as one sign on can generates our entire monthly income budget. However, small businesses will not be ignored, and our Sales Team is incentivized to sign up small businesses on a daily basis.
Product Price Differentiator:
As we are pre-revenue, we have developed a pricing model with feedback from both large and small business. We intend to launch at an attractive price point and escalate this point over time by introducing enticing new benefits.
This is a variable that can be adjusted using the Sensitivity Table and is a factor that management will constantly monitor and adjust where necessary
The Sensitivity Table allows us to reduce or discount the budgeted price point by 40% and still remain profitable.
This app will free all your customer complaint worries
Putting the "good" back into customer service
iBleat app aims to help companies manage social media fury
iBleat - a channel dedicated to customer service dialogue
How This Local Customer Service App Helps Businesses To Better Manage Customer Service Complaints