PRODUCT(S) AND/OR SERVICE(S)
We all know how important reviews are. They have become a critical factor in helping us decide where we stay, where we eat and which products we should buy.
The problem many businesses face is that there are often hundreds if not thousands of customers who interact with their business but never leave a review. This is the “Review Gap”.
TextReview targets the Review Gap by giving customers an easy way to leave a review which is as simple as typing and sending an anonymous text message.
In order to maximise the number of reviews, the whole process will be incentivised. Each reviewer will receive an Instant Win Game direct to their mobile phone. This will give them the opportunity to instantly win a range of in-store vouchers and star prizes.
Our intelligent software is designed to take the review and identifies which reviewers are most likely to be business or product advocates, which reviews needs immediate attention in order to protect the business’s reputation and who needs further nurturing.
Make it easy for small businesses to gain reviews
We have found that SME’s often find it difficult to gather reviews from their customers. Many SME’s will not have a review capture strategy in place and therefore are missing out on important reviews that can help grow their business. TextReview aims to offer SME’s an off-the-shelf solution that will immediately help them capture reviews in a virtually maintenance free, fun and automated way.
Help retail businesses generate footfall
We believe, many SME’s depend on repeat business, but struggle to create a digital dialogue with their customers. Existing customers are rarely contacted to increase repeat business, typically due to the difficulty in capturing the details that might facilitate this.
By using TextReview the customer has already interacted with the business through sending in a review, therefore, the relationship has already been established. Businesses will be able to build on this through the TextReview platform, for example sending relevant text promotions to generate footfall.
Rewards customers for their contribution
Customers will be able to review a business by simply sending in a text message. No app to download or site to register with. As a reward they will get a chance to instantly win a pre-defined prize or vouchers for the chosen store.
Help businesses and brands gain additional feedback
As part of the review gathering process, TextReview seeks to present the customer with tailored questions from the business. This will help businesses understand their customers better, securing simple, but valuable, qualitative feedback.
SUBSTANTIAL ACCOMPLISHMENTS TO DATE
Through feedback we have constantly refined the TextReview proposition and platform allowing us to move from concept to Beta.
We now have a product in place and are ready to commence a full marketing program for our full launch. Accomplishments include:
> Ownership of the TextReview.com, TextReview.co.uk, Textreview.it domains.> Front end website with payment processing completed
> Comprehensive admin panel for clients to manage their feedback
> Ability for businesses to respond to reviews whilst both parties remain anonymous
> Integrated with SMS provider that brings full UK coverage and International expansion capabilities
> Two games fully developed to engage retail and service based customers
> Three more games in early stage development
> Management team experienced in the areas of building an online brand from start-up and delivering commercial software development projects across the corporate, public and SME sectors
USE OF PROCEEDS
We have identified the need to move the technology from server based into the cloud and develop its capabilities as a SAAS (Software As A Service). We believe this will gurantee scalability, increase performance and allow rapid development of the core functionality.
We also want to bring online the number of Instant Win Games available that are more tailored to some of our verticals that we wish to approach.
Part of the investment will be to fund a 12 month customer acquisition campaign. We have a roll-out plan pushing the Freemium model for quick market penetration. This will require a stock holding of the initial signup packs (marketing material) and funding the initial trial.
Fees and Payroll
TextReview is a lean business, with much of the development managed in the UK but developed offshore. However, the business will need to invest in people to hit the acquisition and revenue targets set out in our Business Plan.