Elevate Dive: August '23 Investor Update
To Ad or To Not Ad, That is the question?
“If you have gold bars but don’t have distribution, they’re not worth anything.” —Best advice Nikita Bier ever received (via @nikitabier 6/21/23)
TL;DR. (Quick summary)
Should every social network need to be an Ads Platform? We’re about to find out!
Current pit-stop on product roadmap: Goals & Rewards 🏆
Most current KPIs are a reflection of a non-existent user referral flow and lackluster marketing efforts.
Revamped notifications 🛎️
If you'd like to catch up and discuss Elevate’s next steps. Let's schedule a quick 30 min call here: https://calendly.com/elevate-health/30min
What is Elevate?
Elevate is a health-centric social network that revolves around speeding up how gym workouts and diets are logged by powering users' cameras with patent-pending technology. We believe our tech will become the gold standard for consumers tracking their daily fitness goals, minimizing 90% of the typing typically done on apps across the industry. We are building a new segment in digital health which we call camera-utilized tracking.
See for yourself with our new Tutorial!
🏃♀️ Experienced Elevate yet? Here’s your chance! Live on Apple App Store! 🥗
Highlights.
Goals for July:
Design, Develop & Launch Ads Platform ❌ [ designed & developed ✅ in testing ]
Designed Goals & Rewards Ecosystem 🏆 ✅
New Notifications System ✅
App updates
3 New Versions (1.3, 1.3.1, 1.3.2) — AI generated Workouts & Recipes, Haptics improvements, Tracking by Reps & Duration for same exercises, New Notifications!
Monthly Discussion:
Should we develop an Ads platform before we begin user acquisition strategies? That is the question we mulled over the past few months as we zeroed in on which initiatives to prioritize. The thing about building a social startup is very often we have to deal with tomorrow’s problems today and leave today’s problems to tomorrow. Sound off? I know, I used to feel the same way. Social startups are often like a Rubik’s Cube, you can’t solve one side until you line things up on another. Our current KPIs aren’t a lasting problem, the users we do have LOVE Elevate. SWEAR BY IT!
But we need Creators. Influencers. Experts. Thought Leaders. Celebrities. We have to attract the other side of the social ecosystem for Elevate to have a long-lasting impact. The first step for that is Ads. I know the cool thing in social these days is to get away from Ad revenue. “Unreliable”, “Brands aren’t spending”, “Too much volatility”. Well, tell that to TikTok’s 9.9 Billion in Ad Revenue in 2022.
You know what TikTok doesn’t do well? They don’t pay their influencers well at all. People with millions of followers have consistently cried foul barely making a few thousand. A fact that X, formerly known as Twitter, has begun to target recently.
We need to become the platform creators think generates them the most cash. That means multiple streams of income for creators and theres no better place to build that environment than a network focused on human growth and potential.
We start by paying creators from Day 1. Whether its 10 cents/month or $10,000. And that’s why we’ll be launching Ads in tandem with our new Elevate Partner Program later this month. All creators who meet certain requirements will be eligible to share in the Ad Revenue Profits with us.
Agree or disagree with our strategy? Let me know what you think! Oh and by the way, we’ve got user acquisition in our crosshairs also.
See you next month!
-Sean, Co-Founder
#DontWaitElevate