Analysis of ICO Plentix
Plentix is a blockchain platform offering automated referral programs to businesses. Using the app Plentix users will be able to recommend certain goods and services to their friends. Companies will be able to connect to the platform via API keys and offer their referral programs to users. Referrers will be rewarded with tokens that can be used to receive discounts, etc.
Platform Plentix is also addressed to programmers, who will be able to develop a variety of referral applications on its basis, and offer them to business.
Plentix is one of modern digital marketing tools.The product looks quite interesting against this background, although it is not the only one in this niche.
MVP was developed in August 2017. The release of Plentix test beta-version is scheduled for July 2018. The full launch of the platform should take place in November 2018.
The hard cap of the project is $ 10 million.
PTN token is a utility token.
It is said nothing about the sources of Plentix income. The platform is likely to earn on user transactions.
According to experts of the Expert-coin rating the business plan of this project is not sufficiently designed.
There is no description of the marketing strategy. And it looks very strange, because the developed product is a marketing tool. It would seem that the founders of the project should understand that the project needs a marketing strategy. It is only mentioned that 15% of the raised funds will be spent on marketing & customer development.
The project team consists of 9 people. Team members have experience in IIT-industry, blockchain technologies, they worked in such companies as Cisco, Accenture, Telstra and Microsoft. However, there are too many technical specialists and only one specialist in marketing and business development among the team members. The team clearly lacks understanding of specialized marketing tools.
The Vision of the Market
The founders of the project provide us with data on the behavior of consumers willing to make a purchase on the recommendation of friends or relatives. There are more than 80% of such consumers. There are the review of methods of interaction with consumers (social networks, loyalty cards, NPS, etc.) and the description of several competing platforms.
The founders of the project believe that modern business uses the power of "word of mouth" not in full. Accordingly, the development of the platform and applications for referral programs give businesses additional opportunities to establish contact with the audience.
In general, the founders of the project have a vision of the market. But the analysis of the market and competitors is not detailed enough.
Understanding of the Target Audience
The target audience of the project are companies and marketing agencies primarily. Consumers may also be interested in the product as a source of additional income.
However, there is no detailed analysis of the target audience
The creators of the project see its benefits in the following:
- Interesting remuneration model that creates more motivation for consumers. Not only a referrer is rewarded but a referee too.
- You can connect to the platform through API and integrate it into POS or CRM systems;
- Thanks to the use of blockchain technology, companies will be able to monitor the effectiveness of their referral programs.
It is possible that these benefits will be evaluated by the target audience of the project. However, the founders of the project need to think about the positioning of the product more clearly.
Plentix has a couple of strengths:
- Interesting concept of the product
- Positive market trend.
The shortcomings of Plentix are as follows:
- No detailed market and target audience analysis
- No marketing strategy
- The business plan is poorly designed.