Hi everyone --
I hope you're all doing well. I'm writing to update you on two topics:
(1) Sales performance since our campaign began.
(2) Investor activities (inside and outside of WeFunder) since our campaign began.
I'll jump right in.
Sales and Subscriptions
The early indications of demand for Ketona have been excellent.
We've sold approximately $7,000 worth of product since this campaign began a little less than one month ago. And, since commencing sales operations in December 2017, we're excited to report that our monthly revenues have increased at an average rate of 78% month-over-month:
(Sales through our webstore)
(Sales through Amazon.com)
We've been particularly pleased with the rise in our "returning customer rate." To date, more than 40% of our customers have either signed-up for our auto-delivery subscription program or returned to place additional orders. This rate is considerably higher than what we forecasted in the cash flow and budget projections that we provided to WeFunder in connection with this campaign.
Our paid online marketing efforts (focusing on platforms such as Facebook, Twitter, Google Adwords, and Amazon Sponsored Products) only began in earnest during the last ten days of March. So the great majority of our sales growth thus far has come from word-of-mouth and return business. As we scale our advertising campaigns up to our full monthly marketing budget of $10,000/month in the weeks and months ahead, we expect our monthly website traffic to at least triple and for our sales and subscriptions numbers to continue to grow rapidly.
We are on a very exciting trajectory. If our revenues continue to grow at a month-over-month rate of 78% for the remainder of 2018 (far from a guarantee), total annual revenues for the year will exceed $2.8 million and our expected run rate for 2019 will exceed $20 million.
As I write this update (just under one month into our campaign), we have raised approximately $15,000 of our $50,000 WeFunder goal. We're well on our way.
That said, if you are considering investing in us, I strongly urge you to consider doing so today. If we can reach $20,000 in total investment over the next few days (a goal well within our reach), WeFunder will include us in its weekly newsletter to more than 100,000 investor-subscribers. This would be a huge boon for the campaign as it would dramatically increase our visibility among professional investors.
It seems that increased visibility among professional investors would serve us well, judging from the positive response we have received to date from the venture capital community outside of this WeFunder campaign. Our management team has held substantive, productive discussions over larger investment rounds with all of the following firms, just since the launch of our campaign:
- VMG Partners
- Sankaty Associates
- Cirrus Group
- Triphammer Ventures
- GPS Investment Partners
Discussions over prospective investment are ongoing with the majority of these firms, but as yet no deals have been finalized.
That's all for now. Thanks for your interest in KetoNatural Pet Foods. We hope you'll join us and help to usher in a new era of pet food.
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