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MyBump Media

MyBump Media is an adtech platform powered by the crowd

Malaysia
Market: Information and media, Services, Mobile applications
Stage of the project: Operating business

Date of last change: 23.08.2021
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Idea

MyBump Media is an advertising technology platform powered by the crowd to provide brands with 360° reach.

Brands leverage on the power of the crowd to advertise, promote and market their products/services via ambassadors matched using geolocation, demographic and consumer behavior data.

Our services range from car wrap advertising, crowdstorm or merchandise advertising, offline and online endorsements as well as consumer feedback/surveys by brand's own ambassadors.

Current Status

MyBump Media was developed and built using the lean startup methodology. The co-founders, both lean startup mentors; strategized the development of the MyBump Media platform and operations based on a built-measure-learn principle prioritizing features on client feedback. The Company has worked with multiple clients from different industries to understand industry based advertising needs and identify deficiencies that may be filled or supported by the MyBump Media technology.

MyBump Media's past clients:
Multinational companies: Shell, Starbucks, York, Pixar - Disney Studios, Dequadin - Aspen Pharma, TESCO
Publication house: Advertising+Marketing - Singapore
NGOs: PAWS, WWF, NGO Hub
Local companies: TNG Digital, Etiqa Group, Astro, PIKOM, Flexiroam, Lim Tayar,
Education Institution: University Malaya, Taylors College
Startups: StoreHub, WORQ Co-working Space, DACSEE
Regulators: Malaysia Digital Economy Corporation (MDEC), Jabatan Pengangkutan Jalanraya (JPJ), Police DiRaja Malaysia (PDRM)
At this time of submission, we are currently running crowd advertising campaigns for Astro Malaysia and Al-Fitri, a clothing business.

On our traction, we have over 50,000 registered ambassadors and have had a steady revenue growth. Our total revenue to date is RM2,000,472

Market

MyBump Media's general target market are B2C businesses and segmented into two smaller and more identifiable groups:
1. Demographics
- Marketing officers in B2C companies; annual advertising budget of RM100,000 and above; has specific target audience/user
- Media planners for B2C companies; campaign planning budget of RM500,000 and above; in charge of full advertising campaign planning
2. Psychographics
- Marketing officers in B2C companies; wants brand to relate to high end services or products looking to raise brand awareness; prefers innovative advertising solutions.
- Media planners for B2C companies: prefer omni-channel campaign strategies, looking for creative and award winning campaign executions
3. Behavior
- Marketing officers in B2C companies: appreciates data backed advertising campaigns, particular about measurable advertising campaigns, likes innovative advertising solutions
- Media planners for B2C companies particular about campaign performance reporting

Our client acquisition efforts will go hand in hand with expansion of our tech features and automation of our new services as well our own branding and marketing initiatives to build MyBump Media's brand value.

Problem or Opportunity

MyBump Media services aim to address the issues faced by the advertising industry; reaching a target audience in the most effective and cost-efficient manner. Changes in consumer behavior, diversification of media channels and advancement in technology has shifted consumer's consumption as well as trust of advertisements.

Few notable excerpts from the media industry include:
- 40% of media spend is wasted on the wrong channels due to advertisers not being able to identify the most effective channel to reach their target audience - MediaPost
- 60% of brands struggle with brand message due to not knowing who their target audience are - LinkedIn
- 49% of users in APAC use ad blockers which means almost half of digital spend never reach their target audience - Global Web Index
- 70% of users find irrelevant ads annoying and this negatively affects a brand's image - Hubspot

As a platform, we also address the ongoing issue of the general public who are looking for passive income opportunities.

Solution (product or service)

MyBump Media is a two sided platform that provides an innovative solution to both advertisers and income seekers.

MyBump Media promotes crowd advertising by matching advertisers with income seekers (who are also end consumers) using demographic, geo-location and consumer behavior data. We believe leveraging on the right consumer to promote and advertise for products and/or services is more effective and cost efficient compared to other general media channels and by utilizing the crowd, advertisers gain the benefit of mass advertising approach and enjoy a targeted, reliable and cost-effective advertising solution.
Our services covers the following:
- outdoor/offline media via
- car wrap advertising,
- offline endorsements or merchandise advertising
- crowdstorm (think human billboards)
and
online media via
- online endorsements
- consumer feedback and
- targeted surveys
Our range of services is carried out by a crowd of end consumers, hence the term crowd advertising!

Advertisers can monitor and measure the performance of their crowd advertising campaigns via our online Client Dashboard which includes real-time analytics and actionable insights to increase a brand's growth and improve campaign strategies. Our services come with a performance guarantee as well. Advertisers are also able to target campaigns based on location and target audience just as they would with digital solutions such as Google Ads or Facebook Ads.

The solution MyBump Media provides to advertisers in turn benefits the general public that participates in MyBump Media's brand ambassador program by earning active and passive for advertising. MyBump Media's target beneficiaries are income seekers who are known as brand ambassadors. Brand ambassadors that register on MyBump Media's platform earn an income of between RM5-RM500 per job by participating in our advertising campaigns.

MyBump Media is also a partner of MDEC eRezeki platform that assists to levitate the socioeconomic status of the B40 income group through job opportunities and micro tasks. This is in line with MyBump Media's aim to provide continuous income opportunities for everyday people through advertising.

Competitors

Analysis of the Competition and USP

Car Wrap Advertising
Rodeo: Compared to Rodeo, MyBump Media's platform is fully built in-house with scalable system architecture. MyBump Media has a more extensive operational SOP and technology platform supported by three web based platform and two mobile apps.
Grab: Advertising is Grab's ancillary business unit with only Grab cars being the utilised assets. MyBump Media's car wrap advertising service is supported by ehailing drivers directly, logistic fleet owners and private car owners

Offline Endorsements/Merchandise Advertising/Crowdstorm
Offline merchandise advertising and crowdstorm equivalent services by competitors are majorly being managed by low tech event and talent management companies with no real time performance tracking capabilities

Online endorsements
Various competitors in the market ranging from influencer platforms to boutique agencies. Notable competitors include StarNgage, SushiVid and BigCast. Our key differentiator compared to competitors is our type of ambassadors that are mostly nano influencers and end consumer influencers with an average of 1k followers. The advantages include highly niche group of followers and close network which are well suited for targeted advertising strategies. Given the niche number followers, the cost per online endorsement is also lower for clients and they can opt to go for volume

Consumer feedback and Targeted surveys
Various competitors in the market ranging from survey platforms to low tech survey companies. Notable competitors include MOBROG, YouGov and Vase.ai. Our key differentiator compared to competitors is our tech adaptation and background data on our ambassadors to enable highly targeted survey and feedback respondents to our clients as well as management of add on survey scope such as collection or delivery of product samples and assignment of tasks.

Advantages or differentiators

Overall, where our competitors' scope of services are limited to one core service and limited application of its database of users; each user/ambassador of MyBump Media can carry out multiple advertising jobs i.e. an ambassador that participates in car wrap campaigns can also participate in consumer survey campaigns. This makes MyBump Media the one platform focused on multiple advertising-related jobs as well as provides us with enriched data on each ambassador, continuous engagement and various advertising job opportunities for our ambassadors

Finance

MyBump Media pricing model is based on service fee chargeable for management of crowd advertising campaigns.

MyBump Media charges the client the following fees:
- Media Rental Fee for the rental of ad space which varies between campaign type, number of brand ambassadors and the duration of a crowd advertising campaign; and
- Production Fee for the manufacturing and installation of stickers on cars for car wrap advertising and merchandise production and supply for endorsements

In terms of payment structure, the full Production Fee is payable upfront prior to the launch of a campaign while 50% of the Media Rental Fee is payable before campaign launch and the remaining 50% after the delivery of the campaign.

Where Production Fee applies, the fee is paid to third party sticker installer and/or manufacturer at an apportionment of 70:30 respectively, MyBump Media makes a gross profit margin of 30% the Production Fee.

The Media Rental Fee is apportioned between the ambassador for payment of ad space rental and MyBump Media for service fee at a rate of 40:60. Where clients are referred by Media Agencies, an agency commission rate of 15% is deducted by the Media Agency and, depending on whether there are other creative agency or intermediary media agency involved; the agency commission rate may go up to 30%.

The apportionment Media Rental fee apportionment where an advertising deal involves Media Agency is 40:30:30 as between the ambassador, MyBump Media and the Media Agency.

Business model

As a two sided platform, we act as an intermediary between clients and ambassadors. Based on clients' marketing goal, we plan, strategize and execute the crowd advertising campaigns via our ambassadors and charge clients service fee.

MyBump Media's marketing strategy is focused on becoming the advertising channel for B2C companies and brands. MyBump Media provides crowd advertising solutions for clients looking to raise product/service awareness or to build brand presence using above the line (ATL) and through the line (TTL) advertising strategies.

The Company's marketing strategy is based on MyBump Media's superior performance in the following areas: product/services strategy, pricing strategy and promotion strategy

Product/Services Strategy
Our range of services allow advertisers to create 360 degree consumer outreach campaigns. Each of our services can be coupled and customised according to campaign purpose or strategy:

Brand awareness: Car wrap advertising, Crowdstorm and/or Endorsement
User Acquisition: Endorsement (Online) and/or Targeted survey
User Engagement: Car wrap advertising, Crowdstorm, Endorsement and/or Consumer Feedback
Brand Loyalty: Endorsement and/or Consumer Feedback

Based on a 2017 survey by Advertisers Perceptions, one of the major issue amongst advertisers is measurable campaign performance and reliable reporting standards. MyBump Media provides measurable campaign performance using GPS location tracking and Google Maps traffic condition data as the baseline measurement for campaign impressions as well as campaign performance reporting upd ated in real time and accessible by clients anywhere via MyBump Media's Advertising Dashboard

Pricing Strategy
Service pricing is based on offering high value to MyBump Media's clients. Cost-effectiveness of crowd advertising campaigns is measured based on advertising spend vs return of advertising impressions generated by advertising mediums. Our crowd advertising services is made available to SMEs and MNCs and is highly customizable following campaign budget with minimum buy starting from RM4,000 onwards. The unique nature of our platform that is driven my end consumers (the crowd) allows for compensation structure in the form of service or product bartering via coupons or discounts, this gives clients/brands added advantage when launching campaigns with MyBump Media as they can ensure their ad spend goes back to utilisation of their services/products.

Promotion Strategy
The Company will market MyBump Media's business using the following mediums:
1. Digital Marketing
Email marketing to connect with customers and potential customers and promote sales and events.
LinkedIn, Instagram and Facebook to feature MyBump Media's events and sales and other related crowd advertising information and news
Google Ads and SEO optimization to redirect leads to MyBump Media's website
2. Traditional Marketing
Engaging brand ambassadors to drive with MyBump Media advertisement targeting city centers and business districts to reach companies and corporations
Business magazines or newspapers such as Advertising+Marketing, The Edge with write ups on MyBump Media and the Company's services to reach specific reader audience namely marketers and brand owners
Printed promotional materials such as brochures and flyers which will be distributed to B2C company offices to promote MyBump Media's services and sale offers

Partnerships
1. Media agencies as the preferred B2C advertising platform. Preferential rates and campaign priority will be given to partner media agencies
2. Business associations such as Malaysia Advertiser Association, Malaysia Outdoor Advertising Association, Malaysia Retail Chain Association to increase brand credibility and client reach
Selected brands/businesses for sponsored or highly discounted crowd advertising campaigns to build client portfolio and brand credibility

3. Exhibitions
Se t up information booths at business events and trade shows to raise brand awareness and raffle off crowd advertising campaigns
Participate in advertising and technology competitions or events to increase brand visibility

4. Referral programs
Client referral programs with commission rewards of 5%-10% of advertising contract value for successful client referrals

Money will be spent on


Funding Utilization Overview:

Team : 40%
Development Expenditure : 20%
Product Commercialization : 20%
Advertising/Promotion : 10%
Initial Expansion: 10%

Offer for investor

10% - open to negotiation with strategic investors

Team or Management

Risks

SWOT Analysis for MyBump Media

Strengths
Scalable and fully built inhouse technology platform
No investment in assets as MyBump Media leverages on users (ambassadors) for asset supply i.e. vehicles, presence, opinion
Able to cater to variety of ad budget from RM500 upwards
Data-centric advertising campaigns
Measurable and trackable advertising campaigns
Compliance with applicable regulations

Weaknesses
Crowd advertising is relatively a novel concept in Malaysia and globally, need to build awareness
Tight network of advertising industry players, need to build rapport
Various and continuous education for ambassadors
Seasonality of advertising
Client payment terms which may extend up to 90 days (industry norm)

Opportunities
Increase of supply coinciding with the rise of Gig Economy
Clients are looking for innovative advertising solutions
Increasing demand for trackable and data-backed advertising campaigns
Increasing trend for car wrap advertising
Increasing trend for consumer feedback and surveys

Threats
Competitive pricing / price war with competitors
Price pressure from clients
Fluctuations in the economy that may affect ad spending (especially Covid19)
Change of regulatory requirements which may affect operations

Incubation/Acceleration programs accomplishment

Runner Up - Project Brainchild Corporate Pre-accelerator 2015 by Khazanah Nasional
Top 10 Startups Stanford-MaGIC Go2Market Program 2016
Top 20 Startups Alliance BizSmart Academy 2017
Cradle CIP300 Grant Recipient 2018
Top 10 Scale Up Malaysia Cohort 2 Program 2020
Top 5 Startups Social Impact Challenge Accelerator (Driving Impact the Startup Way) 2021 by Malaysian Global Innovation & Creativity Centre

Won the competition and other awards

Top 45 Startups of SLUSH Singapore
Top 100 APAC Startups Echelon by e27
ASEAN Youth Digital Business Summit - Malaysia Delegate
Leadership Award for Innovation in Advertising by CMO Asia

Invention/Patent

Trade Secret - our automated matching and monitoring tech platform

Photos

Photo 1 - MyBump Media is an adtech platform powered by the crowd

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video