This month’s edition of my “everybody’s an insider” update is very sweet …
Marketing – Member and Investor Growth
20,000 Members. Lowered cost of acquisition.
Lots of great stuff going on. The most satisfying is that this past week we broke the 20,000 shareholder hurdle. We were able to do that because our cost of member acquisition continued to improve. We’re upping our marketing budget as quickly as our finances will allow. We believe in the old adage of “strike while the iron is hot.”
We’ve invested a lot of time and energy into our Change the Faces of Wall Street campaign. It feels good to see it working so well. Thousands and thousands of people have shared their faces with us and their friends because they believe the 99% can build a great business in a new way. They also appreciate earning an additional 100 shares per new shopper they recruit!
While it is too early to definitively measure the shopping behavior of these new members, it appears that they are shopping more, and shopping earlier, than our projections. We think that on average a new member is paying for themselves in less than a year.
This week we launched the first of our compensated influencer campaigns. Notable individuals who believe in changing the faces of Wall Street are speaking out on our behalf. We intend to roll out one or two similar campaigns each month.
We want to dramatically increase our rate of membership growth. That requires us to raise additional financing – buying ads takes cash. We’ve begun testing various marketing messages in support of attracting members and others to invest in our stock.
We’ll be giving members a chance to invest before we close our offering and probably raise our share price. We’re so proud that we got the minimum investment amount down to $25.
Investor Marketing
We’re testing investor focused advertising, and beginning to reach out to our members to make sure they can take advantage of our current share price, before it probably gets raised later this spring.
One of our goals is to get the 99% involved in public company ownership. Building a new company in a new way. The $25 minimum investment is unheard of for companies at our stage of growth and financing. Interestingly, while lots of new investors are coming in at the minimum, many are choosing to invest more. The average is $125.
Financing & Regulatory Compliance
Cash, FINRA (Easier Trading), and the SEC
As mentioned above, we’ll need more cash to fund an increased marketing budget to grow more quickly. At the same time, we need to comply with some arcane FINRA procedures in order to receive a ticker symbol and move forward with our stock being quoted.
This means that later this month we will be closing our current offering. That means no new investors until we submit (and get qualified) a new SEC offering later this spring. I anticipate that the new offering will reflect a higher price for our stock, in keeping with our increased growth. The SEC is taking about 60 days to qualify new offerings, but there are no guarantees.
Looking Forward
SEC regulations require us to file an annual report this month – a Form 1-K. It’ll contain our audited financials for last year. As always, you can see our latest SEC filings here.
Shareholder Education
We’re constantly adding to the material on Shareholder Academy and in our Knowledge Base to help you understand investing, and more important to us, investing in iConsumer. Many of our shareholders have never been involved as investors in a business before. The more we can help you with information, the brighter our future.
Become an Investor
We’d love for current member / shareholders to consider investing cash to help us grow. The $25 minimum is a wonderful way to get your feet wet. Learn more.
Disclaimer
AN OFFERING STATEMENT REGARDING THIS OFFERING HAS BEEN FILED WITH THE SEC. THE SEC HAS QUALIFIED THAT OFFERING STATEMENT, WHICH ONLY MEANS THAT THE COMPANY MAY MAKE SALES OF THE SECURITIES DESCRIBED BY THE OFFERING STATEMENT. IT DOES NOT MEAN THAT THE SEC HAS APPROVED, PASSED UPON THE MERITS OR PASSED UPON THE ACCURACY OR COMPLETENESS OF THE INFORMATION IN THE OFFERING STATEMENT. YOU MAY OBTAIN A COPY OF THE OFFERING CIRCULAR THAT IS PART OF THAT OFFERING STATEMENT AT https://www.iconsumer.com/offeringcircular.
YOU SHOULD READ THE OFFERING CIRCULAR BEFORE MAKING ANY INVESTMENT.