It's gametime! The Vessel team is entirely focused on driving value to our pilot customers.
Before getting into the update, I'd like to call out a recent report published by the Publishing Executive; a credible resource of insight and analysis on the magazine media industry. The report is titled; The Top Technologies Publishers Will Buy in 2018.
As a quick recap, I included a few quotes from the report below...
- Publishers are looking for tech tools that yield audience growth, engagement, and above all valuable insights.
- Reported Audience analytics and audience engagement as the top two rated technology investments for 2018.
- When asked what motivates their technology investments, publishers drove home the point that they’re clearly focused on wringing more value out of their data assets. Indicating the business objectives they hope to achieve through buying new tech, “making audience data more actionable and monetizable” was the number one pick, prioritized by 47% of survey respondents.
- Comments from survey respondents underline the importance of upping audience intelligence. “Our readers’ behaviors onsite are invaluable to our advertisers if we are producing the right content. We are looking for technology partners to help us leverage that to grow our audience and our revenue.”
You can read the full report HERE. Now for the Q2 report:
Vessel - What we do:
Vessel produces engagement data for lifestyle internet publishers through visual content marketing tools. We make their websites more engaging for the SnapChat/Instagram generation.
- Accepted into REVTECH Venture Accelerator.
- Currently installed and live on two of six pilot customer sites.
- Received $15,000 in Amazon Web Service credits. woohoo! Savings!
Above is a screenshot of the install on Austin Food Magazine.
Update: Campaign is now live: AustinFoodMagazine.com
- Due to unforeseen intricacies (plugin compatibility), the pilot installs were two days behind schedule. Quick + easy fixes.
- We have one month of burn. I'm in numerous talks with interested investors within and outside of the REVTECH network.
- Cash: $9.4k in the bank, burning -$7k p/mo. Roughly a month and a half of runway left.
- Traction: 6 signed pilot commitments with a combined monthly viewership of 800,000+. Each pilot will run for 90days. Currently installed on two pilot sites.
- Product: Alpha was complete in two months (May/June) with just 22 patches. Currently in Beta with (so far) 12 tracked patches. We are in version 0.0.12
- Updated Pitch Deck - SEE HERE
- Updated Executive Summary - SEE HERE
- Design of analytics dashboard is not complete. It's important to have this built out and running by the midpoint of the pilots. This data is half the value of our product.
- Wordpress (WP) is the web platform that the majority of our publishers are using.... each publisher has a different WP theme for their site. Working to ensure our product plays nicely with the most popular themes presents a threat to our ability to quickly evolve.. it will take time. John (CTO) will oversee the development and scalability of this process.
- Next hire: Web Apps Developer - Jason Moxon - (part-time) - Jason will test Vessel's compatibility with other front-end Wordpress plugins, serve as a Vessel technical service (customer support) and assist the product team in any necessary development efforts.
- Next hire: UX/UI / Product Researcher - Alex Binder - (full time) - Oversee the product UX prior to and following partner launches. Bringing Alex on full-time will allow us to better define (through data+research) the product and its value for each subscription tier/buyer persona.
- Vessel Content Creator: Jasmine Garcia - (part-time, unpaid) - Jasmine will attend Austin events to capture video content on behalf of select publishers. The content will be used by the publishers to create Vessel campaigns.
- New office address: 8144 Walnut Hill Lane, Dallas Texas 75231. Drop by if you're in town.
- Aaron and John will be able to preside over the pilot tests while I shift gears back into fundraising. I'm looking for introductions to experienced media, advertising, and publishing mentors/investors.
- Aaron Allen - He did a phenomenal job on the plugin. Aaron has demonstrated a high level of work stamina and dependability.
- Jeff Saks - Our versatile attorney and legal advisor has consistently put us at the top of his priority list. Jeff is currently helping us with the plugin's Terms of Service Agreement.
We're already receiving positive feedback from our partners. One client even left a note to her viewers anticipating more use of our product...
Below is a new feature you’ll start to see in some of my posts. You can interact with the map (if you’re a visual person like me wanting to see how close a particular venue is to your home, then you’re going to love this addition)! - ATX-Bites.
More to come. Feel free to reach out anytime.
Airion Watkins-Clark | Vessel CEO