- Aug 21, 2017
Bitcart has hit a milestone by completing the development of v4.0 this week with a launch date set for this Friday, 25th of August. This enters Bitcart into Phase two of our Roadmap with Dash which is to scale up. We are currently trading in the region of $100,000 per month. We aim to increase the volume of orders and number of Bitcart users by implementing version 4.0. Phase two will automate much of Bitcart allowing streamlined purchases and more Dash to be transacted. To accommodate for the ever growing demand of Bitcart and Dash we have decided to run an advertising and marketing campaign. This will commence in September and run until December 2017.
Dash have exclusivity on Bitcart meaning that any promotion of Bitcart will directly benefit Dash. This benefits the Dash ecosystem by requiring people to adopt Dash in order to be able to shop on Amazon with 15% discount. The entirety of Bitcart’s assets and capital is stored in Dash. This dedication to Dash has lead to Bitcart’s decision to not trade any profit it makes. Therefore Dash remains in the ecosystem. Our cashflow shows 3-years income, all of which will be in Dash and all wages will be paid in Dash as a company policy.
Utilising digital and print promotional methods it will be vital for Bitcart to target not only Amazon customers but Dash users too. Dash has exclusivity on Bitcart so it is the only cryptocurrency that is accepted. Crypto exchanges where Dash is sold would be an ideal location for the online promotion of Bitcart. Analysing alternate Dash touch points would also present opportunity for Bitcart promotion where appropriate. In relation to the Amazon market segment, the amount of target market research and analysis required would be relative to the size of the market itself. A budget for market research will reveal more about this demographic’s behaviour.
Expected Outcome: To advertise Dash as a service to purchase on Amazon with 15% off. The outcome of this is to turnover of more than $100,000 equivalent in purchases with Dash per month/ $1.2 million per year for this service and thus increasing exposure and adoption for Dash which has exclusivity on Bitcart.
Total Budget Request: 117 Dash for 3 months (performance-based)
Bitcart Cashflow 2017 - 2019
Approximately 60% of households in the United States have Amazon Prime memberships and 82% of this number earn over $112,000 per year. Customers are therefore highly valuable for Bitcart and Dash.
Online Marketing Strategies
Online channels include Exchange banners and newsletters, Social Media strategies, Media Outlets. Keyword Strategies, Search Engine Optimization methods and Paid online advertising.
The largest crypto exchange place supporting Dash is Bithumb. There is a pending Bitcart and Dash advertising campaign which will be hosted on Bithumb. Because of this, we would prefer to use the budget for other means. Other large crypto exchanges trading Dash include Kraken, Shapeshift, Poloniex and Bittrex. Research and investigation into these alternative exchange places supporting Dash could lead to more promotional opportunities, albeit not a priority for now.
Coindesk are the largest media outlet reporting on blockchain-only news. Online banner advertising can be purchased for up to $5,000 for 3 months and special advertising can be acquired for amounts over this.
Forbes magazine have the largest readership out of any mainstream media outlet covering blockchain news, with millions of online and printed readers globally. Bitcart CEO was featured in Forbes in an interview with senior editor Laura Shin announcing Dash exclusivity. Given the regular coverage and kind of readership, Forbes magazine would be an excellent outlet for an advertising campaign. The Korean market is the largest for Dash and increasingly for Bitcart. Forbes Korea is the cheapest Forbes to advertise. Back page advertising for one issue is $25,000. Bitcart have a partner in Seoul, Korea who is assisting us there. Bitcart's second largest market has always been South Korea and since we exclusively switched to Dash in April 2017 all our customers adopted Dash for it's low rate compared to bitcoin, which suffered high margins at the time.
Utilising methods of Search Engine Optimisation such as adwords, keywords / longtails and meta tags will be essential in exposing Bitcart to an ever increasing target audience. We have partnered with Google EU Headquarters based in Dublin, Ireland, who work with high potential advertising partners in the EU, to assist us. This resource will be invaluable for insights and customer behaviour. From this we can gain a deeper understanding in the behaviour of Amazon shoppers and create good content and keywords based on this.
Amazon ranked 9th in ad spend on the non-branded grocery keyword group, spending $134,000 from June 2016 through May 2017, while ranking 9th in clicks with a 2.8% click share. Whole Foods ranked 18th in ad spend with $51,000 spent on the keyword group over the last 12 months—a decrease from the $57,000 the company spent on the same keywords from June 2015-May 2016—and 19th in clicks with a 1.2% click share.
This market in groceries will soon be dominated by Amazon given it’s investment in this industry and its interest to disrupt.
Prior to acquiring Wholefoods in 2017, Amazon were among the smallest advertisers in the grocery market. This trend will predictably change with their $13.5 billion acquisition into the grocery industry which is valued at approximately $700 billion. We will research opportunities to advertise in an industry that Amazon will undoubtedly conquer for years to come. Targeting the grocery industry, specifically Wholefoods and competitors to Wholefoods in Seattle, is a priority. Example of supermarket ads are trolley’s, floor advertising alone aisles, external advertising. We will explore every option and dedicate a budget to making a big impact in at least one supermarket in Seattle to show 15% savings when you shop with Dash.
The exposure is worth hundreds of thousands of people in South Korea and Seattle with the aim to shop on Amazon with 15% using Dash exclusively. This will increase the perceived value of Dash and will drive interest to Dash for Amazon customers.
Bitcart Development Roadmap
Screenshots// bitcart v4.0