imutual.co.uk

Boro Boy wrote: ↑

Sun Dec 09 2018 3:45pm

1. But I assume the organisations aim is still to always break into profit each trading year?

2. As the most recent years profit becomes future targeted expenditure, what format will this take?

The aim is to maximise the long-term return for shareholders who, in the case of imutual, also happen to be its customers Such returns can take (at least) 3 forms

1) Dividends
2) Growth in company value
3) Improved product / service

At present, I believe the focus should be firmly on increasing the number of active members, as this is the best way to achieve (2) and (3). I think if we have spare cash over and above what's needed to invest in growth, then it's better to distribute that in the form of increased cashback rather than dividends (1). It's less admin, more tax-efficient and makes us more competitive and therefore more likely to attract new members.

So next year, we'll look to spend money on improving the site e.g. more mobile-friendly and perhaps one or more initiatives to attract more members.

I wouldn't rule out making a loss next year, as that would be normal for a company at our stage of development.

Enzocas wrote: ↑

Sun Dec 09 2018 5:09pm

Have you considered a crowdfunding campaign to: 1) raise capital to up the game and be a more credible competitor for Quidco and TCB and 2) create some publicity and bump members numbers?

It's a fair question and there's no doubt that extra capital could help. To raise money we'd either need to take on debt (which I'm reluctant to do) or issue equity (which might prove poor value and would dilute our customer ownership structure). So given that we now have some funds in the bank to spend, I'd rather exhaust the possibilities for growing organically before seeking external funding. Having recently returned full time to the business, and upgraded the site such that future development should be quicker and easier, I'm keen to see what impact that has next year.

I'd rather exhaust the possibilities for growing organically....

I think there are a number of low cost and potentially good returns to be had from some simple and hopefully effective social media approaches to this, as I have mentioned before. Facebook, Twitter and Instagram need to have a lot more traffic, in my opinion, to begin organic growth there at low cost. It's about getting word of imutual out there.

Enzocas wrote: ↑

Sun Dec 09 2018 5:09pm

Have you considered a crowdfunding campaign to: 1) raise capital to up the game and be a more credible competitor for Quidco and TCB and 2) create some publicity and bump members numbers?

Not saying we necessarily should, but curios to whether this was / is being considered and what general thoughts are

Need time to think about that but great to see members are thinking of ways to promote the site

garindan wrote: ↑

Tue Dec 11 2018 9:55am

I'd rather exhaust the possibilities for growing organically....

I think there are a number of low cost and potentially good returns to be had from some simple and hopefully effective social media approaches to this, as I have mentioned before. Facebook, Twitter and Instagram need to have a lot more traffic, in my opinion, to begin organic growth there at low cost. It's about getting word of imutual out there.

Isn't it up to the members to mention imutual to people they know on Facebook etc. You do not have to keep banking them over the heads, but a mention of the quidders or toppers comp answers "from the imutual forum" reminds them of the site. A mention of cashing out with or without the amount can also be good at telling people about the site. If they want more info they will ask, might be members who forget about the site.

Richard,

Well a certain member knows how to promote our website: https://www.bing.com/videos/search?q=im ... ORM=VDQVAP

Perhaps you should be contacting him to do an English version...?

This is by far our best advert and not enough placement of this occurs: https://www.bing.com/videos/search?q=im ... ORM=VDQVAP

Any free shares for attending the AGM?

Hi Richard,

It is not letting me submit my proxy vote - says that my postcode (IM3 4EP) is incorrect. Can confirm however that it very much is correct

Cheers

You should find that your postcode has been approved now

Many thanks - works now!