PitchIt started with an idea between Paolo and Benoît, the two co-funders ofE-Literature.When they were 15 years old, they always wanted to write a brand newsci-fi novel, shoot an epic movie and of course, change the world .But as many ideas they had and as good were their story, it was noteasy to involve a potential reader as deep in their story as they wanted,and it was frustrating.Years after years, they went in school together, engineering degreeand always tried to create brand new concept through programmingactivities. At 25, they both created the Rocket Team.And one day, came an idea : What if the book you’re reading, your book, would be alive ?Not alive like what you see in movies, but enabling the possibility to interact in a brand new way ?To merge yourself in a story like you never did before ?What is the story itself could make you interact with a real world map ?Sending a mail to you, the reader ? Having a story adapting to your environment (current weather of the place ofreading...) ?Illustration of a text effect?Edit history following an action of the player (an input code validation)
Fundamental Problem • Brand new eBook reader devices (Kindle, Kobo, …) are sold everyday. But for the moment, as human readers, we’re only involved as static spectators in the story we’re reading with these devices. Today, an eBook is just a single digitization of a physical book. • On the other hand, brand new tablets (like Android, IPad, Windows Surface) are bringing to the user a new way to interact from both visual and gestures point of view. • How can we take the best of the two worlds in order to create the ultimate reading experience without altering the genuine reading action ?We imagined a new reading format. It could enhance eBook reader devices experience by injecting current tabletsinteractions and capabilities. This new format enables books to interact with the readers environment through thereader device :The story itself can be tailored thanks to the reader geolocalization (gps chipset inside the device)At key story points, the story contains triggers that send messages to the readers address (email, phone,…).Ability to create dedicated bookmarks in the story, even if the reader did not do anything.Having a story adapting to the environment (current weather of the place of reading…)Illustration of a changing text effect (Bold, Underlined, changing fonts,..)Edit history following an action of the player (an input code validation, specific hyperlinks in the text, text written asa comment,…)
Our PrototypeWe’re currently working on a physical prototype : an eBook on a ePub Format, readable on every open readerdevice.The device must contain : Touch enabled screen, GPS Chip for geolocalization, Wifi/4G Data ConnectionSee http://www.slideshare.net/klorydryk/ebook-v3BEFORE AFTER
Business Model - Sales and Marketing Strategy How would we sell our product? Channels: The new eBook concepts would be sold through current eBook markets (Amazon, Fnac, Barnes & Noble, ITunes Store,…). Furthermore, we could also add a dedicated selling platform of our eBooks, in which every product/platform would be present, thanks to a dedicated selling website.W ord-to-mouth : According to a recent study published on the website Actualitté, “8 0 % o f the bo o k s a le s a re re a liz e d thro ug h wo rd -to -m o uth” . As a consequence, as our top targets are tech trend setters (techies from 19 to 35 years old, college graduates, earning well), we’d provide our books not only on simple click-to-pay procedure, but also through a select invitation. Only readers with an invite would be able to purchase the book. With this specific scenario, we’d create rarity and demand. Gurus /Trend –Setters : We’d send dedicated invites to influential people, like main IT journalists (Gizmodo, Verve, Mary Jo Foley…) bloggers, and also cultural icons (Stephen King, J.K. Rowling, …)
Business Model - MarketingWe targeting 2 specific customer segments :Target 1 : For now, as the typical buyer of eReader in the USA, wed target a femalebetween 30 and 49 years, college graduate who earns a very good living (http://actu-des-ebooks.fr/2012/01/23/2-x-plus-de-possesseurs-de-tablettes-et-readers-depuis-noel/).Target 2 : Another sub segment would be tech trend setters, techies from 19 to 35 yearsold, college graduates, earning well too. Considering the technology evolution of thisproduct (which might be related by technology medias - blogs, websites -, this tech trendsetters sub segment would also be attracted by the features of our product.
Business Model - MarketingSocial Breadth Strategy : creation of dedicated Facebook / Twitter / Pinterest / YouTube Fan Pages with Social MediaManager in order to present key messages.Facebook – questions to potential customers, interactions.Twitter – day to day life of the creators of the productPinterest – Daily pictures of creators officeYouTube Fan Page – Videos of concept explanations / value proposition / video pitch of upcoming books# Cost : 1500€/Month for Community Manager including Video/Content creationDepth Gurus /Trend –Setters strategy : based on current identification of main bloggers.# Cost - Pricing between :-100€ (cost of eBooks to be sent to these top customers in an original way)-5.000€ (cost of French PR agency for 3 months activity)W ord-to-mouth strategy : based on high visibility on Rocket Website, thanks to AdWords investments.Objective set up at 20K Monthly UU at a dedicated price of 50 ct / click.# Cost : 10K€ / Monthly.
Business Model - Sales – our engagement funnel Today Adwords – 20K Monthly UU Discover Page Click Ratio Buy Button Click 20% Click Ratio Ratio of 5% = 4.000 monthly UU 200 monthly UU Product at 15€ 3K€Objective Overall market evolving from 15Million € in 2012 to 54 Million € in 2015. Forecast at 250K€ in 2015
Business Model - Partners and Allies The new eBook concepts would be sold through current eBook markets (Amazon, Fnac, Barnes&Noble, ITunes Store,…). Furthermore, we could also add a dedicated selling platform of our eBooks, in which every product/platform would be present, thanks to a dedicated selling website. We could start a partnership with exclusive local distributor : Fnac, wellin reader device with Open EPUB Format.W could provide to this partner a new kind of readers and expand the ecurrent tablet market.
Business Model - Funding Selling our eBooks to platform manufacturers, then perceiving a percentage of each book’s sale. Were also thinking about selling the exclusivity of our eBooks to a single platform manufacturer in order to increase awareness of our product on the dedicated platform (GIVE : exclusivity of our eBook on the platform; GET : more visibility on the e-store). Concerning the funding of the company, we’re currently setting up the cost structure in order to provide the correct ROI plan to present to Business Angels.
Next Steps We’re currently looking for investors to help us launching a physical prototype This is the perfect moment we’re looking for : the ecosystem is ready ! Technology capability Maturity of French Market Specific Demand from customers But more than a simple project, this is a journey about friendship !