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Recom-online

Online Recommendations

Ukraine, Kirovohrad region
Market: Internet and IT
Stage of the project: Operating business

Date of last change: 15.04.2021
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Idea

We are going to become a collecting recommendations aggregator:
1. Provide recommendations on www.recom-online.com.ua
The place where people are looking for an independent site to read the recommendations before buying;
2. Provide recommendations
On your personal website, through our plugin;
3. Provide recommendations on your social networks,
by linking to the ad.
Therefore, having started collecting recommendations on www.recom-online.com.ua, you will be able to provide access to them on any of the listed sites.

Current Status

We already have a finished product. At the moment, the product is being tested, we are correcting technical part of the project, and market analysis.

Market

Based on research from many sources, as well as: geniusmarketingofficial
If we consider a trend as a direction of development in
any area of ​​life, then below are my trends that I use in marketing to give clients a result.
In 2021, the following trends will be relevant:
1. Reviews ✅
2. Video content✅
3. Messengers✅
4. Augmented reality✅
5. Alternative advertising sites✅
Based on the above information, the company's growth potential is very large, because both small and large businesses can generate recommendations systematically.

Problem or Opportunity

- The market is oversaturated with offers, the low threshold of entry for business in social networks has provoked the rapid growth of "micro-businesses" and "fraud", and therefore people have little confidence in buying what they have never heard of. Therefore, more often and with a large check they buy in "trusted places that they advised", or read in reviews.
- When creating RO, we came across a lot of services, and freelance services for writing reviews for money. For a certain amount, your business can both be trampled into the mud, and you can get dozens of positive reviews.
Consumers don't trust reviews because there is no confirmation of them!

Solution (product or service)

Based on our cashback system:
The business gives a unique code after the purchase;
The consumer applies it after writing a recommendation;
From this it follows that there was a fact of purchase and the presence of both parties.

Also on RO, recommendations are thoroughly moderated.
On RO, recommendations with the received cashback are more important when forming the list.

Competitors

Various review sites.

Advantages or differentiators

Extensive functionality of a personal account for business and consumers;
Cashback system;
Verified recommendations.

Finance

Structure:
Source of income 1
Subscription fee 200 UAH / month;
Active management of customer recommendations;
When using the cashback system, commission = 10% of the cashback amount;
Source of income 2
No monthly fee;
Active management of customer recommendations;
But when using the cashback system, commission = 25% of the cashback amount.
Source of income 3
Advertising on the website: 200 UAH / month
Source of income 4
Affiliate programs; attraction of large advertisers
In the next 5 years, our company strives to reach the peak of popularity in the Ukrainian market.

Business model

Advertising in social networks;
Promotion by the sales department;
Word of mouth;
Radio;
Partnership programs;
Carrying out various promotions, lottery;
Public projects.

Money will be spent on

Implementation of technical support by recruiting IT specialists;
Marketing;
A set of a full-fledged team for monitoring and promotion.

Offer for investor

We are ready to discuss the offer for investors at a personal meeting with potential investors.

Team or Management

Risks

Lack of high traffic on the website;
The absence of a full-fledged team for monitoring and promotion;
Lack of funds.
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Product Video