DittoDisk allows people to make memories, rather than worrying about preserving them.
DittoDisk will provide data protection that combines a real-time back-up drive with advanced and automatic backup to the cloud. We are offering a product that no other company is providing, yet millions of people need. The research draws attention to the fact that 6% of all PCs will suffer an episode of data loss in any given year which means that, on average in just the United States alone, 250,000 hard drives crash each week (Fisher, 2014). Even more staggering, hard drives that are more than one year old have a 1 in 10 chance of failure each year – at this rate 1 out of 2 hard drives are predicted to fail over a 5-year period – and viruses cause an additional 4-7% of data loss (Budman, 2009). Despite these statistics, only 6% of people perform daily backups, 51% backup less than once a year, and 35% admit to never backing up their data (Backblaze 2016).
Based on our 6-week feasibility research with potential customers, they admit to personally experiencing data loss due to hard drive failures, malware, or data corruption. They also confess to having back-up capability such as an external hard drive but they do not back up their data because they do not remember to or it is not a priority in their daily lives. They would be willing to pay for a system that was effortless to purchase, easy to use, and automated.
DittoDisk’s patentable back up system can meet customer’s desires. DittoDisk greatly reduces risk of losing computer data using a real-time hardware-based Redundant Array of Inexpensive Discs (RAID) that fits in a single 3.5” or 5.25” drive bay. DittoDisk will offer tiered pricing options to fit customers’ needs, additional service offerings such as automated cloud based anti-virus service, IT customer service, and automated cloud-based online back-up service.
Financially, DittoDisk is forecasted to earn between $110 – $187 gross margin on each sale, depending on the tiered pricing option chosen by the customer. This represents a gross margin percentage between 32% – 47%. Forecasted sales projections and forecasted gross profit margins for each of the tiered priced options have DittoDisk achieving breakeven in the 3rd quarter of operations.
DittoDisk will initially have three main distribution channels to provide purchasing options to consumers – sell directly to the customer via the DittoDisk company website, Amazon, and eBay. The strategic partnership with Amazon and eBay will offer customers payment options (credit card, PayPal, e-check, etc.), ability to read product reviews by other consumers, and have an array of shipment options (Amazon Prime, 2-day shipping, standard shipping, etc.).
Consumer awareness and education will be key to DittoDisk’s success. As mentioned, although consumers are aware of the risk to losing their data, they are not motivated to remember to save their
data. DittoDisk will invest in a strategic guerrilla marketing plan that will consist of a big impression about DittoDisk to create a world-wide buzz. Marketing techniques will include establishing key relationships with the industry’s top journalists, reviewers, bloggers in order to evangelize DittoDisk in technology magazines, social media and blog sites, and the top internet forums.
Recommendations from potential customers and industry professionals from our feasibility study indicate the time is now to invest in this disruptive technology that will change the industry. Technology changes rapidly and customer expectations for 1-click or no-click automation and no-hassle customer service are rising. DittoDisk has the ingenuity, technical capability, and flexibility to navigate these market trends.
When life events happen or Murphy’s Law suddenly strikes, DittoDisk and accompanying software complete a simple to use suite of solutions providing automatic redundancy, security, and backup. DittoDisk will keep a live copy of user data in real-time without any additional time or effort. Simply put, DittoDisk yields significant time savings, cost savings, and peace of mind.