June 29, 2019

June 2019 Startup Update

Help Wanted/Asks:

  • N/A

Hiring: 

  • Armin on board now. He’s still at his full-time role for now.
    • Calls every other day
    • Texts throughout the day

KPIs/Core Metrics:

  • Revenue: $1.99

Product:

  • EV Insurance Experiment. Success: there is demand. Fail: Couldn’t beat prices with traditional agent network.
  • Now integrating with Clearcover API to automate quote requests.
  • Other bet: Positivity Trainer

Experiments/Hypothesis run:

  • Test Landing Page for EV Insurance

    • We know this is a problem, but less operations-intensive than tests from last month.
    • Put up landing page at https://www.electrade.app
    • Free Reddit content marketing @ /r/teslamotors and /r/electricvehicles
      • Results:
        • Took 1h to get first quote request.
        • 100 visits, 11 requests in first 3 days through initial Reddit spread.
        • 17 visits, 0 request through Reddit Ads ($8 spent)
        • 478 visits, 1 request through “Best Tesla Commercials so far” (Reddit)
        • 356 visits, 10 requests through “Why the time is right for electric vehicle insurance specialists” (72 upvotes)
        • Revenue: $0, Couldn’t beat prices with agents.
    • Paid Reddit ads:
      • Results: 8 clicks, 1 request for $8.
      • Revenue: $0, Couldn’t beat prices with agents. Fail.
    • Found Clearcover.com.
      • Supposed to be more affordable than agents.
      • Automated so no emailing back and forth.
      • Now starting integration with them.

  • Other bet: Positivity Trainer (solo)

    • Uploaded to app store.
    • Results:
      • 1 trial
      • 100 users
      • 1 paying user ($1.99 per month)

Contact / Inquire