November has been a month of building processes & procedures, meeting with investors and getting to cash flow positive. We’ll dig deeper in the update below.
Live Urban Denver begins training it’s agents on how to use virtual reality to tour homes.
Catch me up:
We use our virtual reality demo at almost every brokerage presentation we go to in order to educate agents on what they’ll be able to do with our product when we are ready to release it. Not only are we educating them but by showing our VR product at sales presentations, we usually see a increase in orders (I haven’t calculated it yet but I think it’s an additional 50%+ increase).
Whats the latest:
Although we’ve been cautious to launch our MVP of the virtual reality product publicly, one of our pilots with Live Urban has been using it as a marketing tool.
Walkthrough has rounded up several investors for their seed round and just needs a majority stake investor to lead their seed round.
Catch me up:
Throughout Q4 we’ve spent time interviewing candidates to bring onto the team and connecting with investors all across the US & Canada. We’ve lined up talent that we’d bring on after the closing of our raise from engineers, to sales reps, to a head of sales & operations.
Whats the latest:
We’ve found several different investors who are interested in participating in the round and most are looking for a lead investor with a majority stake of the round to set the terms. We’ve been on the road connecting with different firms and have also applied to both River Ecosystem and the TechStars Accelerators. We should hear back by the end of the year if we’ve made it in to either program.
Customer Love Spotlight:
What else has happened since the last update:
- We’ve explored the idea of training new photographers completely remotely with VR – haven’t done enough work here yet to know if it’s fully viable but this could save us ~$1,000+ in training per photographer.
- Added the ability for customers allow us to upload photos to the MLS for them. This was in an effort to increase customer stickiness and help with sales.
- Called 30+ churned customers to identify churn reason – thankfully the top three reasons are ones that we can improve – photography quality, availability, and delivering product without technical bugs.
- Outsourced our photography categorization & remaining photo editing to a team in the Philippines.
- Built procedures on how to handle support tickets and do our daily sales outreach – the plan is to outsource this in the coming weeks.
- Accepted and went through the due diligence process with SeedInvest.
- Tested monthly market report for agents to send to their prospects – The result: none of the agents cared for this.
- Started offering $10 off of our product for reviews on social platforms and have already started to increase reviews on Google, Facebook, and Yelp.
How you can help:
Key Performance Indicators:
Walkthrough replaces the time-consuming process of touring multiple properties with a simple and affordable virtual reality experience. (view investor slide deck)