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Transcript of Money Cloud
Quemulus, Inc. also currently employs 2 interns and contracts advisors as they continue to develop the platform.
Currently, there are 3 full-time employees
Kelly M. Ogilvie - President and Chief Operating Officer
Elizabeth Willett - Chief Business Officer (MBA Graduate)
Jason Conway - Chief Executive Officer and Director
Prior to platform release, hire more full-time employees or contract workers to cover areas in finance, web design, customer service, operations, account managers, etc.
The 641 Consulting Group
- Lillian Kim
- Wendy Jeng
- Tanit Koonprasert
- Mario Molina
- Justin Young
- Janice Zhang
What is YOUR dream?
Brief product overview:
Quemulus, Inc. created a Money Cloud™ platform.
Accessible via mobile and web devices.
Send and receive money privately and securely.
Share your Money Cloud™ with your social network.
Quemulus, Inc. aims to be the premier lifestyle network through Money Cloud™, connecting commerce and community while promoting the actualization of dreams.
Licenses required without bank backing
Growing technological savvy
Popularity of online social platforms
Economic environment is favorable for creative ways to raise money
Complete Money Cloud™ beta platform.
Target date: September 2013
Roll-out to test markets.
Target date: October 2013
So What is Our Go-to-Market Plan?
Earn 10% ROI
Target date: April 2016
Release and open Money Cloud™ to a public market where social commerce transactions can be made.
Target date: April 2014
Phase 1: Focus on Montana, Washington State, college campuses
Phase 2: Focus on the West Coast market, small non-profits
Phase 3: National roll-out
Long-term: Global roll-out in emerging markets
Strategy based on competitive advantage
Trademarked: Money Cloud™
Social platform integration with Money Cloud™
Money Cloud™ can be shared publicly or privately
Money can be put into different jars aka Money Clouds™
Creates marketplace between users and service providers ("Cloud Sourcing")
Target Segments and Justification:
Ages 18-35, especially college students
- Tend to be early adopters
- Engage in social activities
- Influence others
Segmentation strategies of key competitors:
Your Money. Connected.
- 2014 year end: 30,000 users
- 2015 year end: 100,000 users
- 2016 year end: 500,000 users
- 2014 year end: On average, 6 transactions/user per month
- 2015 year end: On average, 10 transactions/user per month
- 2016 year end: On Average, 25 transactions/user per month
- Mobile payment
- The early stage of Mobile Commerce
Initially focus on Montana and Washington State
- Montana: Two large college towns
Friendly regulatory environment
-Washington: Strong network
Money Cloud™ is a bridge connecting social and e-commerce platforms
Cost-shift transaction fees:
Individual users - Free
Non-profits - Free
Businesses - $0.25 to receive payments
Bulk pricing for businesses:
$0.035 - $0.10 bulk transactions (i.e. 500 transactions for $25 @ $0.05/transaction vs. $125 @ $0.25/transaction)
Estimated first year sales budget (Year 2014)
20% of the accounts are business accounts = 30,000 x 20% = 6,000
25% of transactions are charged (Business)= 1.5/month/account
25% x 6 x30,000 x 12 x $0.25 = $135,000
Key promotion goals/tools
Create awareness through viral & digital marketing
- Facebook and Quemulus websites
Distribution objectives in terms of customer service
Distribution channel solely online
FAQ page on website
"Contact Us" link
Direct link to download app
"What's New" page
Key promotion goals/tools cont'd
Build positive images, retain & grow customers
- Market trademarked Money Cloud™ brand
- Continually assess needs of customers to cater website interface
- Visit college campuses
- Meetings with small non-profit organizations
Direct links from various e-commerce, business, and organizational websites
Highlight security features
Ease of use
Growing number of users
-Money Cloud trademark
-Flexibility due to size
-New venture knowledge
-Small online presence
-Limited cash flow
-Weak brand image
-Unproven product reputation
-Cultural shift toward social media
-Mobile and online transactions gaining ground due to increased trust in technology and security
-Higher necessity to save and raise money
-Expansion into new geographic markets
-No bank backing
-Costly regulatory requirements
-No significant online presence
-Similar existing products
-Not first to market
Venmo, Dwolla, PayPal
Pressure from competitors to finish product
Leadership has startup experience
Limited experience with mobile payments
Focus on innovator and early adopter market share
As of year end 2012, raised $100,000 of a $500,000 round from angel investors - which a portion will be dedicated to promotional efforts
This is how you can achieve it.
Reverse auction for B2P and B2B
Why is the sky blue?
- Cheaper and Safer Point of Sale (POS) system
- Increased online presence
Small non-profit organizations
-Heightened community awareness
- Higher visibility
- Direct connection with donors
- WAPI Family Services
Keys to online marketing success
- User-centered design
- Value-added content
- Customer-focused web content
- Permission-based marketing
- Search engines
"Search Engine Optimization"
- YouTube advertisements
- New press:
Short-term - Entrepreneur.com, TECHNEWSWORLD.com
Long-term - CNN Money, American Banker, Forbes, WSJ
- Multichannel marketing
...and go chase your dreams!!!
Free for you to use (unless you are a business)
Online presence and digital marketing
Start local and grow outward
Website and mobile